Cash FX Group withdraw delays suggest imminent collapse
Withdrawal delays suggest the Cash FX Group Ponzi scheme is on the verge of collapse.
CEO Huascar Lopez addressed Cash FX Group’s ongoing withdrawal delays in an email sent out to investors.
Rather than simply admit the company was running low on new investment to pay returns with, Lopez trotted out COVID-19 and bitcoin’s fluctuating value.
During this unprecedented global challenge, we are managing issues in several areas that affect our business model and many others as well.
One of those is within the forex market itself which we have discussed during our New Social Movement events. Another is in the conversion of Fiat to BTC for our member withdraws.
I would like to share some details regarding the process so you may better understand why some delays may take place from time-to-time due to the current COVID-19 pandemic.
Cash FX Group solicits investment in bitcoin on the promise of 200% to 400% returns.
Returns are paid in bitcoin, which Cash FX Group claims it’s routinely losing money on.
We prepare for our busiest withdraw period on the weekends by purchasing BTC at the end of the week to cover expected withdraw requests.
A BTC purchase of 100 coins for example would cost $665,000 USD.
This Saturday saw a price drop to $5,800 ($580,000 USD). This creates a shortfall of $85,000 USD to complete requests for withdraw.
At this point, we have a couple options; one is to spend an extra $85,000 USD to complete withdraw requests; another would be to wait for a price recovery, thus protecting the capital on behalf of the members and the company, and then complete the withdraw requests without such a large loss.
Multiple times over the last few days we began the process of paying out all withdrawal requests, however due to market volatility, we had to stop before being able to complete all the withdrawal requests.
So each day we would pay out several withdrawal requests, but unfortunately, not all of them at once.
How far behind Cash FX Group are with withdrawal requests is not clarified. I have however seen claims that in some instances the company is behind by a few weeks.
With carried over unpaid withdrawal requests piling up, how long Cash FX Group can continue to string investors along remains to be seen.
Cash FX Group claims returns are generated via forex trading, however no evidence of external revenue being actually used to pay investors has ever been provided.
Furthermore, Cash FX Group is not registered to offer securities anywhere in the world.
The company is primarily promoted by serial Ponzi promoters in the US. At the time of publication Alexa estimates the US is the largest source of traffic to Cash FX Group’s website (22%).
To date US authorities have taken no action against the company or its promoters.
Pending Cash FX Group’s expected official collapse, stay tuned…
Update 30th June 2021 – CashFX Group is once again experience ongoing withdrawal delays.
This is the first time delay happened and it was for less than 24h. Almost everyone got payments as soon as btc came back above 6k. I know I did.
Since April there was no delays more than 48h, it is not even a delay, they just made bad system, but they are into making their own proccessor so withdrawals are instant.
What you guys do not seem to know or you know but do not care is that not only they are one of the few projects that still pay out regularily during this crypto crash and corona, but CEO unlocked matrix bonuses for all those small package owner to be able to receive whole matrix structure (otherwise that money would stay in the company pool).
Would they do this if they were ow on money?
Also, soon copy trading will be announced by their broker and keep in mind that no US authority action is done because Ron Pope lawyers are working with SEC so CashFX enters USA.
The only reason a Ponzi scheme enters the withdrawal delay phase is because money is running low.
A Ponzi scheme pays out until it doesn’t. At that point it’s too late for the majority of investors (mathematical fact).
If they thought it would encourage new investment, sure why not.
Absolute bullshit. You don’t “work with the SEC”. You register and file legally required financial reports and disclosures.
Not withstanding Cash FX Group is operating illegally everywhere else in the world too.
Thought things were VERY FISHY when they were putting all their efforts in Promoting and working on recruiting new customers.
How can you write such a garbage?
You are a clown sharing an absolutel lies. Shame on you ! ! !
What lies? Cash FX Group very much stopped paying withdrawals and sent out that email.
The only reason a Ponzi scheme goes through withdrawal problems is because money is running out.
Gotta love Ponzi scammers running around “shaming” people.
Just a matter of time before this one goes belly up .
It is clarly illegall and have not registered any where in north america for sure . I give it another 8 6 months ….
Your all waiting for our bubble to burst, which sadly aint gonna happen.
You’re not a member and dont know the real message behind the email from Huascar, because i was personally on a leaders call with him.
My withdraw which i requested less that 18hrs ago has already been paid, theyve NEVER missed a payment and NEVER WILL!
SO take ur rumours and shove em where the sun dont shine. Oh and have a prosperous day!
If you’re part of this company and really believe it’s legal and long-term, you are part of the problem that continues to hurt our industry.
This is a 100% scam company That will only survive on new enrollments. Once that slows down, the company will collapse.
Take your money now while you can and go join a legitimate opportunity. SMH…
@Steven
Math is math. Neither you nor anyone else is above it.
Once withdrawals exceed investment, kaboom.
CashFX may continue to pay out for some time but the cat is out of the bag now. Your “leaders” will withdraw whilst trying to convince you everything is fine.
Welcome to Ponzi end-game.
Is that really what we’ve come down to? Pretending there’s hidden meaning in plain English?
My my, the lies we tell ourselves when caught up in a scam.
Take note dear reader, this is what desperate denial looks like.
What makes absolutely no sense in the explanation is that the problem is supposedly caused by the volatility of bitcoin vs. the US dollar.
If that is the case, why not simply pay out in US dollars directly? They take in investors’ money in US dollars, and claim to make their profits by speculating on the forex markets, why are they messing around with a cryptocurrency in the first place?
It just introduces a completely unnecessary additional risk factor, for both the company and the investors, and a permanent one at that, it’s not something that has suddenly appeared.
(Of course we know why, but if you pretend to believe they’re a legitimate business it doesn’t make sense.)
Never say Never! People who talk like you do usually have to learn by experience.
They dont buy bitcoin to pay people out. Their BTC Stash is running low because their fake dashboards are in USD.
When CashFX was peaking in SEPT OCT time when BTC was high, they now how to pay out double because BTC dropped and people are cashing more out. So they are having to use more BTC.
If BTC stays at the price for the next 2 to 4 weeks. CashFX will be gone sooner rather than later.
They introduced new packages to maintain the inflow of BTC. the end is near…
Plus their fake returns have dropped dramatically.
For the dumb people out their this % includes capital so it takes around 100 working days just to get your original money back.
This does not even account for the 20% withdrawal fee so add another 20 working days.. LOL
@ Ajay, you have said it best! These bozos especially those at the top, which I will not name, they are always the same 3 promoters-bozos who care not about others but themselves, are now shouting the total monthly % they were paid.
They used to shout it out on a daily basis, eventually on a weekly basis and now monthly basis.. They know that CFX is doomed.
The 20% withdrawal fee is nothing but theft. Not to mention the educational part of it …I can understand a % but hell do they need that much? (wink).
Been fully paid on every withdrawal in the past 8 months. let’s chat in a years time.
Ponzi schemes payout until they don’t. After the recent backlash CashFX Group will likely rethink a more subtle exit-scam strategy.
Meanwhile the top investors are cleaning out their accounts (as predicted) and the plebs are cheering them on. Lulz, whose money do you think they’re withdrawing?
Looks like it is desperate times out there. The promoters are really making a run for commissions.
Never before have I seen so many trying to secure their “investment” from cashing in on commissions….shut this shit down and stop fooling people.
Another attempt at getting people to reach your garbage site. ZERO facts here. I get my withdraws every time and faster than normal from cashfx.
You can transparency a claim they are a fraud. But if they werent transparent you would claim they are a fraud..Nothing wrong with reviews if they are fair and honest… cant wait to see your next one on cashfx.. whats the next story?
(Ozedit: derails removed)
hAy GuYs I gOt PaId So It’S nOt A sCaM!
And what transparency? CashFX Group is not registered to offer securities in any jurisdiction. You know nothing except new investment enters the company and returns are paid out.
As it stands CashFX Group started withdrawal delays, received a ton of backlash from investors and so will likely come up with a more subtle exit-scam (reduced daily returns?).
Our next story will be whatever happens, I don’t create the news.
Faith Sloan and Arleisha Jones are already promoting their next scam Super.one soon Justin and Luigi will be winding down..
They are already 2 steps ahead of you fools. They did the from Cloud Token to CashFX. Remember they said CLOUD TOKEN was the real deal, until it wasn’t.
Keep upgrading you fools, this is what your uplines keep wanting you to do..
These leaders are the biggest fakes in the world . i still remember hearing how great cloud token was and put in more and more and the company was the best the ceo was the best and company was so transparent what a joke.
Cash Fx is the same there is a reason they promote it all over the world but spend little time in the USA cause they know its far fom legal or ligit …
Its a shame who knows mayne the law will make an example of the leaders this time. Lets see how fast the porchse will go in jail.
Preach Brother!
This outfit is as stable as PIPS, Freeland Ops and Zeek rewards!
Sound as the £.
Honestly, buy the time most people have heard about any of these scams, the true criminals already have their money out, the top level promoters are desperately seeking to get their money out, the plods on here bragging they never missed one payment are never going to get their money out and anyone dumb enough to still be sending money in probably shouldn’t be trusted with their own accounts anymore to begin with.
Rule of thumb, if people who are not involved have ever heard of it, its over.
Can some one please explain to me why this scam is still going ????
Same as any other Ponzi scheme, new dumbasses continue to invest.
I have been sold the idea of this business in my country Nigeria where many have been investing now.
People previously scammed in forex trading now swear by this one. Is there any possibility this one might really be the real thing?
Surely not all of such businesses are scams?
If CashFX Group was not a Ponzi scheme they’d register with securities regulators and operate legally.
All Ponzi schemes are scams.
I made a withdrawal yesterday, It’s been 24 hours. Request is still pending.
Does anyone here know how to get out of it? Like take out my investment. I don’t see the option for that.
All good for me, easy to take out profits every week. No delays at all.
Sarah there is no way cause your money is being used to pay others . This is such a scam and you will see before the end of the year it will all implode.
They are already preparing for the next scam, seem Cash FX will shortly close down. This mining scam use the same website template, same fav-icon and the same address in Panama: oakminers.com
Lets see how the believers react when their hard earned (scammed) money one day is gone.
I have been paid on time every time since feb 2020, my returns are impressive snd cant see what all the negative is about ??
Whether you’ve personally stolen money through Cash FX Group is neither here nor there.
CashFX Group is committing securities fraud around the world. The only reason an MLM company chooses to operate illegally is because it’s a Ponzi scheme.
There’s nothing positive about Ponzi schemes. The business model guarantees the majority of participants lose money.
How is Cfx trading in forex from Panama, if it’s not registered by Sec. to trade?
All the forex trading shown on their training from Panama 9th floor Tower, is all fake. Pls clarify.
They’re not. Cash FX Group is run by Huascar Lopez from the Dominican Republic.
How much longer will this cash fx last and will they goverment go after the leaders like they just did with Plus token?
It’s now nearly September still getting paid every week. So laughable how people are out here to steal dreams!
Dont bash a company you’re not even a member of. If you haven’t been personally scammed by cfx who gives you the right to go out and say it’s a scam we are not a get rich quick operation so yes it takes months to get your money back on passive income from trades.
Steady growth is much better in my opinion. This is a long term thing not an overnight quick win! #laughingallthewaytothebank
Not as laughable as scammers attempting to justify theft through a blatant Ponzi scheme.
Here in the free world we don’t need permission to call out scams.
What dream? To steal money from other people? Pick a nobler dream and we’ll be more apt to cheer you on.
Passive income from trades, you say? You do realize a passive income offering is a security offering, right? It doesn’t matter if the leaders claim otherwise, it’s a security offering. And security offerings have to be registered with financial authorities in pretty much every country.
Not to do so is to commit securities fraud. Is that part of your “dream” also?
Sorry, but I’m not onboard with theft by securities fraud. You do you though, sport.
Does anyone know if cashfx Bitcoin payout can be converted to real cash?
Perhaps not directly but in the same way any bitcoin can be converted to cash, yes.
Oz, I have just read all the crap that you have been posting since April the 1st which is very apt.
I have been a member of CFX since May and have never had a delay on being paid every Saturday. The BTC is in my wallet 24-36 hours later without fail which is not bad considering we have 50,000 members now.
I listen in on leaders calls every week and let me tell you that CFX is a legacy company and is going to be around for a long time.
Now please stop posting rubbish about a company you know very little about. Join and then do a genuine review after a month or so and your credibility will go up in a lot of people’s estimation.
Whether you find the fact Cash FX Group is committing securities fraud and running a Ponzi scheme to be crap is neither here nor there.
Considering this article was published before you joined, looks like Cash FX found new gullible dumbasses to invest. That’ll keep them afloat till recruitment collapses again.
Oh and whether you’re personally stealing money currently has no bearing on Cash FX Group being a Ponzi scheme. Ponzi schemes pay out until they don’t.
Cash FX Group is committing securities fraud and running a Ponzi scheme whether I join or not.
That and you certainly don’t need to join a Ponzi scheme to identify one.
Please can you tell me about the relationship between Cash FX and Ever FX (Broker)?
Sure, said relationship if it exists has nothing to do with Cash FX Group committing securities fraud and running a Ponzi scheme.
To Oz and the rest of the clowns on this dribble site. The broker is a separate body, company that does the physical trading who are licenced in the country they trade in.
They even sponsor Sevillia Football Club in Spain who just won the Europa league final, just in case you didn’t know all you keyboard legends.
Furthermore the REFERAL of people to invite on board is strictly optional. You may join and just reap the daily, weekly & monthly interest. (Ozedit: derails and spam removed)
If Your Going To Do A Due dilligence audit on a company do every conceivable angle otherwise you will be the one caught with your pants pulled down!
Happy trading. we will sit back and watch all you dribblers go to work and get 1% interest a year at the bank, and we’ll keep trading, oh wait we don’t need too the pro”s do it for us. But we all get the option to learn how to trade as we are also be taught by the 1st World Class FX trading Academy.
Have a nice day at work. oh wait there goes the phone, your sharebroker just telling you the shateemarket crashed and the bank is taking some of your money because you didn’t think you needed siler or gold. ahahah and you think we’re fools. LIKE SHEEP YOU LOT!
That’s nice. Cash FX Group meanwhile isn’t registered to offer securities and therefore continues to operate illegally.
There’s only one reason MLM companies commit securities fraud; because they’re Ponzi schemes.
Legitimacy via association isn’t a thing.
Whether recruitment is optional or not doesn’t change the fact Cash FX Group relies on new recruits to invest to continue to pay out.
Thank you for confirming Cash FX Group’s illegal unregistered securities offering.
In case anyone is wondering as I was, the Sevilla sponsor is EverFX, the trading broker that Ponzi scam CashFX does a few token smoke and mirrors trades through.
Sevilla FC has nothing to do with CashFX the Ponzi scam.
Oz you are a 1st class dickhead (Ozedit: abuse and ranting removed)
^^ Ladies and gentlemen, this is what a scammer being hit with facts looks like. Delicious.
Pat spewed the same venom at James Pinion a few days ago on another scam-busting site.
It’s not a pretty sight, a con man breaking down like a blubbering bully with their ear held in the teacher’s thumb and index finger as they are dragged to the principal’s office by force.
Nothing like the comedy stylings of a scammer meltdown to start your day.
Thanks for the laughs Pat (four furious comments picked up by the spam filter so far).
PAT says:
Could this crackPAT sound stupider?
Why would “pro”s” (LOL) do it for an emotionally disturbed hayseed like crackPAT if they were legit?
If they could generate legit, documented returns they would have hedge funds, etc giving them billions.
CrackPAT…thanks for a long laugh.
I have a friend who is in Cashfx and thinks it is the next best thing to sliced bread. He has arranged a zoom call tomorrow night with his upline based in Toronto.
I am doing my due diligence by reading everything here and elsewhere. I have my doubts based on what Oz is saying. I will listen, but I am not investing.
I have heard that any MLM that involves cash but no actual product is a scam.
Thanks for the eye opener! Now to tell my friend…..
If your friend’s in deep enough to be hosting hosting zoom calls you’re probably going to run into the “but I’m getting paid! (unspoken: who cares if it’s a scam)” brick wall.
Good luck!
This is quite funny to look back on 5 months later and still no ‘imminent collapse’, go watch the video of everfx COO endorsing cashfx.
He mentions that he (everfx) can see the trading that they are doing. This implies that either everfx is in on the scam (with is plausible, however, extremely stupid on their part), or it is a legitimate business.
I am not here to defend or attack cashfx, but I have also ran the numbers and the amount of growth required to support such a scam would have seen the company collapse long before now.
There’s nothing funny about financial fraud. At the time this article was written CashFX had withdrawal delays.
There’s only one reason Ponzi schemes stop paying out, imminent collapse.
Said collapse can be prolonged by scammers finding new areas to pillage. That appears to be what happened.
Math is math though and CashFX Group will inevitably collapse.
Why? Legitimacy via association isn’t a thing. And social media marketing videos aren’t a substitute for registering with financial regulators and providing audited financial reports.
Unless you have forensic level access to the numbers behind CashFX Group, you know dick.
Put in 5k, cashed out 10k, put their money back in cashed another 6k so far. Playing on the houses money, if it is a scam its a really bad one.
I joined in November 2019. With the returns i earned, i upgraded my package and now on $7000 package. to date, ive withdrawn $19998.00. Way more than my investment.
Obviously this includes some comms for signing up friends and family. But point being, i have no reson to doubt them. I get paid every Saturday and know people that joined in July 2019 and still getting paid weekly. They also in massive profits already.
So i guess, unless your a member sharing the same experience as 1000s of us, I guess you missing out. Invest $300, surely this wouldn’t kill you if you lost it. Or is it out of fear & your own insecurities that you defaming CFX?
Do what most people do, 1st, withdraw your investment amount. Then use their money to keep upgrading etc and make money. If it goes bust, you would have actually lost nothing???
Unless, you invest in CFX and experience what we do, back down a little.
@James & Donovan
Whether you got in early and proceeded to steal money from people who invested after you, is irrelevant in determining whether CashFX Group is a Ponzi scheme.
Ponzi schemes pay out as long as new victims are recruited who invest. And you certainly don’t need to invest in a Ponzi scheme to identify one.
Oh and please, spare us the “wHaT dO yOu FeAr?” marketing nonsense. That bullshit might work suckering people on Facebook, it won’t here.
The facts are CashFX is committing securities fraud, with a business model that lends itself to being a Ponzi scheme.
Math is math and the majority of investors in a Ponzi scheme are guaranteed to lose money (to scammers such as yourselves).
You might be fine with financial fraud, it is what it is.
Hi Oz, do you have any actual evidence it is a ponzi scheme, or is it just a gut feeling?
Also, in the article is says that CashFX are behind in payments, you know yourself it is near impossible to stay afloat after starting to fall behind, so how can it still be up and running nearly 7 months later?
Also, do you believe AVON and ANN SUMMERS are ponzi schemes as they also have the same make-up.
As someone in trading both primary and secondary markets for many years now I can assure you that all trades lose money. That is the issue with this EverFX success in trading the Cash FX account.
Even those using algorythrms lose and that is not down to any bug in the system its down to the volumes trading on a particular day that may impact on things differently, number of closing positions etc.
If they are trading on a pair like euro bitcoin the same applies…. I know Kracken, the largest trading platform for bitcoin in the world will tell you that. They have several billion in trade.
Im not here to knock anything, damage dreams only ask that you take a balanced view and listen carefully to the guys who have raised some very valid Red flags.
@ Jeff
The big difference here is that people like me buy Avon without ever going into the structure. I by Tupperware too and I once had a dog who would only eat what I could buy from the Amway neighbour.
CashFX sell nothing anyone not wanting to make money recruiting would ever want.
Passive investment MLM companies don’t commit securities fraud unless they’re running a Ponzi scheme. This has been proven time and time again in regulatory filings.
New investors = collapse is put off a while longer. Same as any other Ponzi scheme.
No idea what Ann Summers is but I know Avon doesn’t offer a passive investment opportunity and is therefore not comparable to Cash FX Group.
Ann Summers and/or Avon is offtopic.
There’s a lot of talking but no substance behind your review. When publishing assumptions, it’s best to back it up with fact, Oz.
This is your soapbox, I get it, but you owe it to your readers to at least give an objective, unbiased and assumption-less (is that even word??) review.
The word Ponzi gets thrown around a bit here… but again, what is the basis of your bias?
There is no investment into BTC. You pay with BTC and get paid in BTC. The trading is that of Forex.
You contradict yourself because you do actually mention forex a few lines later.
Really now? Just because they have a good Alexa ranking?
Why would they? CashFX is not available in the USA. Pointless statement at best.
Have you tried the system or do you just cling to “it seems like a ponzi, so I’ll call it one”?
Curious actually… and staying tuned.
No need for assumptions. The facts are laid out in our Cash FX Group review;
CashFX offers unregistered securities. MLM + unregistered securities = Ponzi scheme.
CashFX being a Ponzi scheme has nothing to do with bias one way or another. It’s simply fact.
Calling investment “paying with BTC” doesn’t make it any less of an investment.
Feel free to provide audited financial reports filed with financial regulators proving Cash FX is engaged in trading, and using trading revenue to pay investors.
Remember, we deal only in facts. Your assumptions won’t cut it.
No, Cash FX Group is primarily promoted by serial Ponzi promoters because it is. Duh.
Because promoting Ponzi schemes in the US is illegal. This goes for each and every US resident promoting Cash FX Group.
You don’t need to invest in a Ponzi scheme to identify one.
Duh up your ass mate. Provide your proof of these serial Ponzi promoters.
You scream facts facts facts… where are your facts mate? (Ozedit: derails removed)
Justin Halladay, Luigi Bruni and Faith Sloan off the top of my head.
Right here – https://behindmlm.com/mlm-reviews/cash-fx-group-review-200-to-400-roi-trading-bot-securities-fraud/
If you want to address the facts, awesome. If you want to carry on like a porkchop, do it somewhere else.
But why can’t I register directly without being referred? That’s a red flag for me. so no.
Also say, I want to invest 1 million woth of bitcoin, how much can i make in year?
Funny enough, Cashfx still stands strong and has been paying despite when BTC fluctuated. I am a beneficiary. Cashfx rocks.
It’s not a bad idea to use a referral link. Referral isn’t a crime. The referral and bonuses just encourages members to put effort to advertise for the company. It’s a compensation.
And the referal link helps to detect who did the publicity. Human communication is better than just social media ads.
When registeres members testify, when they tell you how real it is, you become convinced than when you hear or see the advert somewhere.
To know how much you will make monthly and at the end of your contract, you will need to do the calculations. You make over 200% of your direct investment at the end of your contract with CashFX.
Like any Ponzi scheme, new recruits = money to pay people with.
At the time this article was published there was withdrawal problems.
As for referral links, MLM + no retail = pyramid scheme. That’s very much a crime.
Umm – you DO understand how ponzis, pyramids and moneygames work, don’t you ?
For all you defenders who have come here and praised CashFX Group as not being a Ponzi and demanding facts to prove it is. I give you Faith Sloan, the major US Pimpette of Ponzi’s in the United States.
Believe me Faith Sloan knows Ponzi’s. Every program she has ever promoted has been a Ponzi, and when she says a program is a Ponzi she knows what she is talking about.
Now before you go questioning her credentials, all you have to do is Google her name and her moniker QueenWiki. And she was one of you promoting CashFX Group.
Sorry for your loss, which you are going to find out very, very soon now.
CFX traders are just timeshare sales guys from Curacao, not experienced traders of foreign currency.
i.pinimg.com/564x/d7/b3/f4/d7b3f4687ed9ee4d581ef041f59d5412.jpg
facebook.com/inCruises/posts/dear-hildo-emerencianacongratulations-on-achieving-a-new-rank-marketing-director/1059038177632695/
Javier is a taxi driver.
facebook.com/GrabTheAmazingNewOpportunityWithJavierLeito/about/?ref=page_internal
It’s a charade.
What about that office in Panama? Has anyone seen any pics of it since they showed us around an empty office last November?
The latest excuse (in a video a few weeks ago) was that the materials were delayed due to Panama shutting down its ports. Panama didn’t shut down its ports.
The office doesn’t exist (and before you reply saying it does, pls send a link with the progress pics and videos of the office in construction – they say an opening is imminent so there must be pics, right?)
While the bitcoin price is rising and new members join they can continue to pay out.
Since April you people have been bickering about CFX and it’s legitimate or illegitimate statue. Yet it’s paid out its members an average of 1% a day Monday through Friday since last November.
This #legacycompany is changing lives. Have fun being angry on blogs while the “sheep” are making gains!
*since April CashFX scammers have been coming on here to defend a Ponzi scheme.
Nobody is bickering. CashFX has been committing securities fraud since this review was published, because it’s a Ponzi scheme.
Backoffice monopoly money isn’t “gains”. Sorry for your loss.
We have to admire the simple genius of the Ponzi scheme. After 100 years, the scheme is still getting people to part with their cash.
Ginger can’t see the trick. If they are paying out, it must be legitimate.
Like a toddler watching her uncle’s thumb disappear, Ginger is dazzled. This is her new business. This is her new steady income stream. It has changed her life!
CFX is her new family. Why are all these nasty people saying it’s a scam? They’re jealous!
The Ponzi scheme is at least 150 years old, Charles Ponzi didn’t invent it by a long stretch.
By rights, it should probably be called a Spitzeder scheme. Adèle Spitzeder ran the first fully-fledged Ponzi scheme known, in Bavaria from 1869 to 1872. It was so innovative, the authorities had a hard time finding something to charge her with.
Charging her with investment fraud was impossible: she had never lied about doing any actual investing. In the end, they could only convict her of running an unregistered business, and inadequate bookkeeping.
The Spitzedersche Privatbank, or Dachauer Bank, as the scheme is also known, is also probably still the largest Ponzi ever, in terms of what percentage of one country’s money supply was involved.
(There are people who have advanced other cases a bit earlier in the 19th century as being the first Ponzi, but I’ve never been convinced by them. The ones I’ve seen proposed to me always looked more like people who got sucked into a debt spiral, having to borrow more and more money to pay off other creditors. Which is similar to a Ponzi scheme in how money is shuffled around, but not the same thing.)
Live copy trading announced yesterday starting December 1st. You can now open an account with CFX broker EverFX in CFX back office and live trade with the bots!
Full transparency. CFX is not going anywhere anytime soon. Accept it.
1. You can’t have “full transparency” when you have failed to provide regulators and consumers with legally required audited financial reports for almost two years.
2. No matter what CashFX Group adds to its Ponzi scheme, it’s still a Ponzi scheme.
CashFX is the best forex trading platform powered by TCP “the conversion pros inc in US”.
Delay in withdrawal no issue with us 3-5 days maximum no issue they are consistent in paying us from the start until now.
Our capital invested have been returned already within 4-5months i have no worries about it.
That’s nice but there have been documented CashFX Group withdrawal delays.
Also your capital wasn’t returned, you stole money from people who invested into CashFX Group after you. Slight difference.
Oz, your strident and inaccurate rant is growing ever more tiresome. Back in April CFX was about to collapse due to late payments. Since then it has never missed a payment and not even been late with a payment.
Anyone who says they don’t get paid or can’t get their money out is simply being economical with the truth.
My money is held by EverFx, not CashFx, and it is returning me around 5-6% every week without fail, but, and this is one further point where your review is grossly inaccurate, nowhere does CFX promise 15% returns.
(Ozedit: derail removed)
CashFX is the real deal and they are allowing the average person to participate in successful FX trading which has in the past been the domain of wealthy people.
You proceed to dismiss the fact that CashFX Group had withdrawal delays when this article was written as a rant, but then confirm it. Alrighty then.
Their marketing capped returns at 15% a week. This is documented fact.
CashFX Group is a Ponzi scheme. If it wasn’t they wouldn’t be committing securities fraud the world over.
“Late payments” = people stopped investing. Then they found new victims in the UK, Nigeria and the US.
Numbers in your backoffice != withdrawals. Sorry for your loss.
Hi Oz,been reading through your sites on CashFX. Very interesting. I’ve been approached a few times on facebook. Will be interested to see what happens to it in the end.
David Harrison
Queensland Australia
Hey there Oz, I’ve just stumbled upon your comments about CashFX. Interesting points you make indeed.
From what I’ve researched, they utilize the 30% academy fee to remunerate all the people in the network. The remaining 70% of the deposit is traded in the forex market, (Ozedit: snip, see below)
Hi John,
You say you’ve “researched” CashFX Group generating external ROI revenue via trading.
Feel free to provide legally required audited financial reports proving your claim. Otherwise admit you haven’t done your research.
(Ozedit: derails removed) I didn’t mention anything about reviewing financial reports. I’m gathering my research from the same places you are.
Do you have any financial reports to share?
(Ozedit: more derails removed)
I’m sorry, you made the claim that CashFX was trading. The onus is on you to prove your claim with legally required audited financial reports.
I know you don’t have said reports, because they don’t exist.
Why? CashFX Group is a Ponzi scheme.
Thank you for confirming you did no research beyond swallowing the Ponzi kool-aid.
If you want to crap on about the “big banks” and the usual crypto bullshit, do it somewhere else. Have a nice day.
No – they “SAY” they utilize the fees
You DO know how ponzi and pyramid schemes work, don’t you ?
Authorities in Canada (BC), Norway, UK, Bahamas and Panama have all issued warnings about dealing with CashFX.
Thanks for the heads up. Got a bit of news to cover today, I’ll try to include the additional CashFX regulatory warnings we haven’t reported on yet.
United Kingdom: fca.org.uk/news/warnings/cash-fx-group
Canada (British Columbia): bcsc.bc.ca/enforcement/early-intervention/investment-caution-list/2020/cash-forex-group
Norway: finanstilsynet.no/en/investor-alerts/2020/cash-fx-group/
Panama: supervalores.gob.pa/component/content/article/215-informacion-del-mercado/varios-alertas-al-inversionista/10485-cash-fx-group-s-a-comunicado-publico
The Bahamas: scb.gov.bs/wp-content/uploads/2020/12/SCB-Notice-No.-13-of-2020.pdf
@Rob
Thanks for the list. I’ve got Spain down as a country that issued a warning but can’t find it.
There is a CNMV warning for “CRYPTO CASH FX”, however that’s a different scam.
I’m removed Spain from the list of countries that have issued a sec fraud warning against CashFX Group.
Courtesy of Paul from the TBBOB discussion – the “solicit investors illegally” list –
lautorite.qc.ca/en/general-public/fraud-prevention/illegal-on-line-trading-platforms/warning-list-of-websites-and-companies-that-solicit-investors-illegally
Got it. Thanks mate.
I have some errands to run that I’ve put off the last two days because of all the news to cover.
Will get stuck into it tonight.
Courtesy of the anti scam Facebook group – Cash FX Scam Now What? –
thisismoney.co.uk/money/experts/article-9046201/Is-CashFX-real-trading-outfit-just-Panama-pyramid.html
See the comment section of this post regarding EverFX –
facebook.com/groups/900705770292584/permalink/1323592118003945/
Lulz, CashFX scrubbed any mention of EverFX from their EN website.
Dumbasses left the evidence on the multi-language versions of their site though.
Why have all the references to EverFX been scrubbed from the CashFX website (now scrubbed in all languages)?
And why in the copy trading section of EverFX are members being asked to copy “AWS” (always win strategy)? Why isn’t it called CashFX?
Mmmm, why is the CashFX created video on copy trading (tutorial) not on their official YouTube site?
Why doesn’t it say that “AWS” is copying the CFX trades? Why do none of the CashFX videos on their official YouTube site mention copy trading?
Why does the official CashFX Facebook page not mention copy trading?
Copy Trading is a disaster and shows definitively that CashFX is not generating profits from trading.
Since 14 Dec CashFX has posted trading “profits” of 10% BUT Copy Trading has lost money.
prnt.sc/whg2zo
good thing i came here looking for answers. i was just trying to buy a pack and got this message on their site. i’m in the US
what bitcoin programs are there now that is legit?
CashFX Group very much solicits investment from US residents. Their top promoters are mostly from the US.
If it’s offering passive returns, one that’s registered with financial regulators and provides periodic audited financial reports.
Currently the number of MLM crypto schemes that fit this criteria, and thus operate legally, is zero.
Bitcoin or no, any “program” that promises outrageous fixed returns is a scam; most likely a Ponzi scheme.
CashFX was offering returns of 200-400%. If someone could get those returns, they certainly would not be soliciting outside investment, they’d just invest their own money and be rich in no time.
Whether offered as single-digit percentages per day or week, or multiple-digit percentages per month, they’re all scams.
They may claim to be making money by selling something or mining crypto, but all they’re going to do with your money is give to someone else who invested before you did. That’s how Ponzi schemes work.
“I could stand in the middle of 5th Avenue and shoot somebody and wouldn’t lose any voters, ok? It’s, like, incredible.” — Donald Trump.
“We could launch Copy Trading and show everyone 100% that we aren’t really trading and we wouldn’t lose any members, ok? It’s, like, incredible.” – Huascar Lopez
I’ve been reading Oz interesting comments and they are enlightening.
Please if it is true that Cashfx is promising an average of 1% per day, it means 5% per week minimum.
However, those into Cashfx in Nigeria gets returns in the region of 1% per week on their package. Are they being double-scammed?
For example, on a package of $500.00, the trade result was 1.32%, and for that package, it translates to $4.62 only for a week!?
This was the result as at Feb 9, 2021. Seems something is fishy here or am I missing something? Kindly help to clarify anyone!
Screw over Africans to pay a little more to the rest of their investors. Or it could be that returns are down across the board.
CashFX Group is after all a Ponzi scheme.
There is a generational gap! the old school doesn’t believe in new things all over the world.
Cashfx is a disruption! whether you like it or not. I will not be damn supersized to discover that the blogger even have an account in Casfx.
Generational gap? That’s a new one.
Ponzi schemes have been officially recognized since the 1920s but date back further. Your great grandfather’s generation invented them.
But uh yeah, cAsHfX iS a DiSrUpTiOn! No worries chief.
An Ex-CashFx member made a YouTube video and left no doubt that CashFx is a total scam.
Ozedit: Already posted – https://behindmlm.com/mlm-reviews/cash-fx-group-review-200-to-400-roi-trading-bot-securities-fraud/#comment-436284
It is interesting reading all doom and glom comments and the article itself is now a year old and I am still getting paid on time. Hmm..
CashFX did experience withdrawal delays. They seem to have found new suckers such as yourself to join and steal from though.
Oh well. Math is math, once invested funds are exhausted sorry for your loss.
Edit: Also seems like the payment delays never went anywhere – youtu.be/_hQNfV3Blos?t=1131
Oz – you could suggest that the Tulip bubble was a ponzi too where people were paying ever more inflated prices for bulbs, which eventually saw a crash in prices in 1637, and fortunes destroyed.
I’m sure people have been running investment scams since before 1637 😀
I cite Charles Ponzi from the 1920s because it’s probably the birth of the closest thing to the MLM Ponzi we run into today.
Also it ties into the Securities and Exchange Act, which the US still uses to go after Ponzi schemes. And which most of the rest of the world’s securities regulation is based on.
1 year after your publication… CFX is still paying out. The joke is on you
What joke? Financial fraud isn’t a joke.
CashFX Group has experienced continual withdrawal delays since this article was published. Eventually the music will stop and then sorry for your loss.
CashFx ussually pays within 7 days. In my case I am in my 8th day of waiing for the first time.
I took my risk out, so everything I get is extra.
Oz – No. 116 above. I am sure you are correct.
Scams since the beginning of time, even when bartering.
Suspect there could have been a great Monty Python sketch if they had thought about it? :o)
Hmmm… and over a year later CashFx is still thriving, continuing to earn on our behalf and paying us week on week.
As a member I don’t mind that withdrawals are a bit late when the market is extremely volatile. It means the company are protecting our interests and I’m grateful for that.
Rolling withdrawal delays isn’t thriving. It’s barely keeping the show running, made easier as long as dumbasses such as yourself keep signing up to lose money.
Crypto crashed what, barely even 24 hours ago? Please shut the fuck up.
Stop copy/pasting from your leader’s facebook page, it’s humiliating and makes you look desperate.
If CFX transfer money to a stable coin how on earth do they transfer money to EverFX and why does it matter if BTC goes down…….. because they don’t trade.
I joined CFX a year ago yesterday, i have always been paid on a Saturday, never been late.
The person who showed me the business is a friend of mine for 50 years. He has been in many MLM online businesses and has generally made money, and yes, some have collapsed.
This is the best online business he and most members have ever seen.
What gives it credibility in my mind is Jojar Dhinsa, who is a British billionaire from Coventry, joined about February and he sings its praises, its transparency, its ethics.
He sent his legal team to Panama to see if the offices that The owners `bought` not rented.
Its costing millions to bring it up to a world class `office` that anyone who is a member of CashFX can visit at any time (pandemic allowing) Jojar is the CEO of Athlone which had a turnover last year of $23.3 billion. (Ozedit: marketing spam removed)
Still a Ponzi scheme.
Legitimacy via association isn’t a thing. CashFX Group is still a Ponzi scheme and you, by virtue of stealing people’s money for over a year, are a scammer.
Unfortunately you are sounding a bit sad OZ, when I looked at the business in April last year there were 32,000 members, it’s now over 260,000 members, we must all be very gullible.
There are accountants, professional people, business owners. Did you look at Jojar’s profile and how he endorses Cashfx. (Ozedit: derails removed)
1. I cover the MLM industry. I have no skin in the Ponzi schemes I cover, it’s all entertainment for me (except low-effort crypto Ponzis, fuck those guys).
2. How many people join a Ponzi scheme is irrelevant to it being a Ponzi scheme.
3. What profession people who join Ponzi schemes have is irrelevant to to the Ponzi scheme they join being a Ponzi scheme.
4. Legitimacy via association isn’t a thing. Whether Jarjar Binks joined CashFX Group is irrelevant to it being a Ponzi scheme.
Dingdingding.
Stupid is as stupid does. You clearly failed the basic math test, along with your 230 000 fellow dunces.
Correction,260 000 dunces*
Though at this point the numbers on the screen don’t really matter
I can guarantee you there are plenty of duplicates to increase their bonuses
AntiMLM – I don’t think it was me who failed the basic maths test lol, but at least you realised the error of your text.
Are you scared of (Ozedit: derails removed)
@Danny
If you’ve got nothing to add to the discussion except waffle, because let’s face it the regulatory and withdrawal pressure on CashFX Group must be incredible at this point, I think we’re done here.
Jojar Dhinsa’s Wikipedia page is being deleted because nothing about him holds any water, it’s all self promotional bullshit.
They are not paying withdraws June 6th now June 21st have not seen it and they took a $30 fee for this madness.
It is Bitcoin should be the same day. Rather the market down or up it is up to the customer when it comes in your BTC wallet to move it to a Stablecoin while the market low or cash it out.
Not the company. Sorry this is Bitconnect all over again from 2017 they going to walk away with all the money.
Glad I only did $500 and you can never get your deposit back you put in they only give you the interest you can’t even quit. Another red flag.
You all If I knew all this would of never tried it glad I didn’t put nobody in this mess.
That`s not true No Name! If you were withdrawing the money to upgrade, you don`t have to now. If you are looking to upgrade, cancel your withdrawl, your money will go bacl into your CFX wallet. and you can now upgrade direct from your CFX account.
We have all had this situation in this last month or so, it is to do with the volitility of Bitcoin.
Just talk to your upline, that`s what they are there for. I`ve had to do the same, there was such a backlog, it`s taking a long time to sort out, but they are nearly there. It`ll be fine, trust me!
And what if I don’t want to upgrade (read: not withdraw and reinvest monopoly money instead)?
Ponzi schemes only start up the withdrawal delays and stop paying out for one reason.
They’re liable to be “nearly there” for the indefinite future before they disappear completely.
Are you deluded or lying? Doesn’t matter; we all know how this ends.
I just “LOVE” those idiots writing stupid reviews like that. It’s been almost two years since people started writing all this negative crap and company is still going.
I happen to belong to a community of members and nobody is complaining. This is a fisrt business were everybody starts earning within 72 business hrs and recruiting is absolutely not necessary (it’s a choice to get you to your goal pack quicker).
You can sit there completely passively and keep accumulating your account and upgrade only from the profits you make from your trading so you can get to your highest pack. (Ozedit: derails removed)
It’s OK. We know CashFX Group hasn’t paid you and your fellow scammers for over a month.
Whether you and your fellow scammers like not getting paid is neither here nor there.
Right. Reinvest the monopoly money that doesn’t exist to receive more monopoly money in your backoffice. Everything “works” till people want to withdraw.
Unless new victims are found fast, as of right now Ponzi go boom. And your tears are delicious.
Yeaaaah about that,for 0 complaints why now ENFORCE a policy of account terminations for any negative comments? Think you’re a tiny bit behind the news there babes,sorry about that
Go blow somebody else’s horn
Related: 2 years? Bah the best ponzis can do 15+,don’t even think your little scam factors yet for any longevity,it’s actually pathetically new – like you
AntiMLM – You seem to be the person in the know ? Please name a couple of the `Best Ponzi` schemes that have lasted 15+ years.
My `upline` is a friend of 50 years, he has a team of over 8,000 and not one person has `quit` or had anyones` account terminated for negative comments?
I don`t know why anyone joining this business, would give out negative comments, it just doesn`t make sense.
Your money is traded 5 days a week, and you get an email on Saturday telling you how much and its in your Cashfx account.
And as Maggie said, you can join and be a passive earner, it will take approx 5 years to get from the $300 package to the maximum $100k package.
Anyway, you should listen to the people who are in this business, rather than slate it, if you know nothing about it, which you obviously don`t as you`ve never participated.
Contrary to your beliefs, you`re not doing anyone a favour by slating it, you`re putting the ordinary person off who would have a very decent second income once they have invested a small amount of money.
Madoff managed 17years,care to try beat that?
You have bad friends and should look for people who understand how money works better.
8000? No wonder you’re defending him and his scam, he’s a ponzi whore.
After the notices posted on facebook and telegram warning against bad comments,i’d imagine you babies are too shit scared to say a word.
Pleeeeenty of complaints all over the net too,not everybody was born scared eunuchs like you.
Lack of getting payments for longer than a month tends to make people angry,perfectly sensible to be miffed.
You’ll need to fart out some audited financials because right now you’re just repeating the shit you’re getting fed by your “friend”.
I don’t need to get shot in the head to know that I don’t want to get shot in the head. Participating in ritual stupidity doesn’t make it less stupid,quite the opposite.
Dunno hey, the average honest person prefers to earn money without it being stolen from others. I know I know that also probably doesn’t make sense to somebody happily profiting from scams like this such as yourself, but it’s fortunately the reality.
Now run along to your cult circles to rub oil on eachother or something more productive than trying to defend a pretty simple ponzi scam.
What I do not understand is why CFX will not meet with Regulators and address their concerns to that CFX can be fully legitimate.
Because Ponzi schemes can’t be “fully legitimate”.
You don’t have to meet with regulators to register with them and file financial reports.
Ya know what, Anti? I’d like to have a beer with you one of these days.
I was introduced to this scheme by a friend earlier this year, who was open and honest, and showed me some of the negative reviews, but said she had a good feeling about it.
I invested $500 dollars, and am a passive investor. So far I’ve cashed £500 (less 20%) so I’ve virtually had my money back, and what’s left is gradually growing.
I won’t be recruiting anyone, I certainly don’t watch the “ra-ra” hype videos (they give me a headache). I just go onto my CashFX account each week and watch my “Monopoly” money creep up – slowly.
If it works I’ll make a lot more money, if not – c’est la vie.
The secret is to only invest what you can afford to lose. By the way, I should mention that, in the 80’s I lost £20,000 when the share market collapsed – and they were regulated
By “works” you mean steal a lot of other people’s money. Let’s not mince it.
Why? You losing money in the stock market in th e80s has nothing to do with you stealing people’s money through Ponzi schemes today.
You need better friends that don’t enjoy profiting from scams.
Passive theft is still theft,but hey if it helps you sleep at night call it “growth”.
No,participation in a scam,profiting from it, and then shrugging when it eventually collapses makes you a dickbag.
The insidious nature of Ponzi scams like this and the lack of financial education (which you clearly indicate) means the majority will try maximize their gains, and lose royally in the end.
Currently at least 75 days behind as of 01/01/2022.