ATMxNet Review: Forex trading Ponzi scheme
ATMxNet provides no information on its website about who owns or runs the business.
The company does provide a UK corporation number, which corresponds to ATMXNET Limited.
As per Companies House records, ATMXNET Limited was incorporated in May 2017 and dissolved in October 2018.
The stated reason for dissolving the company was compulsory strike-off.
Note that UK incorporation is dirt cheap and for the most part unregulated.
It is a favored jurisdiction for scammers looking to incorporate dodgy companies.
ATMxNet’s website domain (“atmxnet.com”) was registered in May 2017. Thomas Prince is registered as the owner, through a street address in London.
No information on Prince exists outside of ATMxNet’s UK incorporation data. Whether he actually exists is unclear.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
ATMxNet has no retailable products or services, with affiliates only able to market ATMxNet affiliate membership itself.
ATMxNet’s Compensation Plan
ATMxNet affiliates invest funds on the promise of an advertised ROI.
- Basic Plan $10 to $500 – receive a 2.2% daily ROI for 70 days
- Basic Plan $501 to $1000 – receive a 2.3% daily ROI for 70 days
- Basic Plan $1001 to $3000 – receive a 2.5% daily ROI for 70 days
- Standard Plan – $500 to $1000 – receive a 3% daily ROI for 70 days
- Standard Plan $1001 to $2000 – receive a 3.3% daily ROI for 70 days
- Standard Plan $2001 to $5000 – receive a 3.4% daily ROI for 70 days
- Premium Plan – $1001 to $2000 – receive a 150% ROI after 30 days
- Premium Plan – $2001 to $3000 – receive a 160% ROI after 30 days
- Premium Plan – $3001 to $90,000 – receive a 175% ROI after 30 days
ATMxNet pays referral commissions on invested funds down three levels of recruitment:
- 5% on level 1 (personally recruited affiliates
- 3% on level 2 and
- 2% on level 3
ATMxNet affiliate membership is free.
Full participation in the attached income opportunity however requires a minimum $10 investment.
ATMxNet claims to generate external ROI revenue via “multi-currency trading on the Forex market.”
Naturally no evidence of trading is provided.
Furthermore ATMxNet’s business model also fails the Ponzi the logic test.
If ATMxNet’s anonymous owners were able to consistently generate a 175% ROI every thirty days, why would they offer access to that kind of money for free?
Surely the smart thing to do would be to invest their own capital and retire as the richest people on the planet after a few years?
With no verifiable source of external ROI revenue, all ATMxNet can do is recycle newly invested funds to pay existing investors.
This is otherwise known as a Ponzi scheme.
As with all MLM Ponzi schemes, once recruitment dies off so too will new investment.
This will starve ATMxNet of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.