Cash FX Group Review: 200% to 400% ROI trading bot securities fraud
Cash FX Group provides no information on their website about who owns or runs the business.
Cash FX Group’s website domain (“cashfxgroup.com”) was privately registered on March 4th, 2019.
Update 13th October 2019 – CashFX affiliates are citing Huascar Lopez as founder and CEO of the company.
As best I can make out, Lopez appears to be from the Dominican Republic.
The only MLM company I was able to peg Lopez too was My Fun Life circa 2013-2014. /end update
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.
Cash FX Group’s Products
Cash FX Group has no retailable products or services, with affiliates only able to market Cash FX Group affiliate membership itself.
Once signed up, Cash FX Group affiliates invest funds to participate in the attached MLM opportunity.
Cash FX Group affiliate investment provides access to “Trade Academy education packages”.
Cash FX Group’s Compensation Plan
Cash FX Group affiliates invest funds on the promise of a 200% or 400% ROI, capped at 15% a week.
- 300 package – $300 investment
- 500 package – $500 investment
- 1K package – $1000 investment
- 2K package – $2000 investment
- 5K package – $500 investment
- 10K package – $10,000 investment
- 20K package – $20,000 investment
- 30K package – $30,000 investment
- 50K package – $50,000 investment
- 100K package – $100,000 investment
As I understand it the 200% return cap applies to passive returns.
The 400% return cap applies to the MLM side of the business.
Cash FX Group investment packages expire when either 200% in passive returns or 400% in MLM related commissions are earned.
Once either 200% or 400% in returns have been generated, investment in a new package is required in order to continue earning.
Withdrawal Fees
Cash FX Group charges a 20% withdrawal fee.
The company uses 50% of this fee to fund residual matrix commissions (see below).
Cash FX Group Affiliate Ranks
There are seven affiliate ranks within Cash FX Group’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- affiliate – sign up and invest in a Cash FX Group package
- Executive – maintain a 1K (500 PV) or higher investment package, recruit and maintain three active investors and generate 7000 GV
- Manager – maintain a 1K (500 PV) or higher investment package, recruit and maintain two Executive or higher ranked affiliates and generate 25,000 GV
- Director – maintain a 1K (500 PV) or higher investment package, recruit and maintain two Manager or higher ranked affiliates and generate 100,000 GV
- President Club – maintain a 1K (500 PV) or higher investment package, recruit and maintain three Director or higher ranked affiliates and generate 500,000 GV
- Ambassador – maintain a 1K (500 PV) or higher investment package, recruit and maintain three President Club or higher ranked affiliates and generate 2,000,000 GV
- Global Ambassador – maintain a 1K (500 PV) or higher investment package, recruit and maintain two Ambassador or higher ranked affiliates and generate 5,000,000 GV
PV stands for “Personal Volume” and is sales volume attached to Cash FX Group package investment.
- 300 package = 150 PV
- 500 package = 250 PV
- 1K package = 500 PV
- 2K package = 1000 PV
- 5K package = 2500 PV
- 10K package = 5000 PV
- 20K package = 10,000 PV
- 30K package = 15,000 PV
- 50K package = 25,000 PV
- 100K package = 50,000 PV
GV stands for “Group Volume” and is PV generated by an affiliate’s own investment and that of their entire downline.
Although not clarified in Cash FX Group’s compensation plan, I believe required GV is accumulated.
Recruitment Commissions
Cash FX Group pays a 50% commission on funds invested by personally recruited affiliates.
This 50% is calculated based on PV generated via Academy Pack investment.
E.g. recruiting a 500 package affiliate generates 250 PV, which pays out a $125 recruitment commission.
Residual Commissions (unilevel)
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Residual unilevel commissions rae paid as a percentage of funds invested across the unilevel team.
Cash FX Group caps payable unilevel team levels based on rank:
- regular affiliates earn 10% on levels 1 to 4
- Executive ranked affiliates earn 10% on level 1 to 4 and 20% on levels 5 and 6
- Manager ranked affiliates earn 10% on levels 1 to 4, 20% on level 5 and 6 and 5% on levels 7 and 8
- Director ranked affiliates earn 10% on levels 1 to 4, 20% on levels 5 and 6, 5% on levels 7 and 8 and 5% on level 9
- President Club ranked affiliates earn 10% on levels 1 to 4, 20% on levels 5 and 6, 5% on levels 7 and 8, 5% on levels 9 and 10 and 1% from level 11 onward
- Ambassador ranked affiliates earn 10% on levels 1 to 4, 20% on levels 5 and 6, 5% on levels 7 and 8, 5% on levels 9 and 10 and 1.5% from level 11 onward
- Global Ambassador ranked affiliates earn 10% on levels 1 to 4, 20% on levels 5 and 6, 5% on levels 7 and 8, 5% on level 9 and 1% on level 10
Ambassador ranked affiliates earn 10% on levels 1 to 4, 20% on levels 5 and 6, 5% on levels 7 and 8, 5% on levels 9 and 10 and 2% from level 11 onward
Residual Commissions (3×10 matrix)
A 3×10 matrix places a Cash FX Group affiliate at the top of a matrix, with three positions directly under them:
These three positions form the first level of the matrix.
The second level of the matrix is generated by splitting these first three positions into another three positions each (9 positions).
Levels three to ten of the matrix are generated in the same manner, with each new level housing three times as many positions as the previous level.
Positions in the matrix are filled via direct and indirect recruitment of Cash FX Group investors.
Residual matrix commissions are funded by 50% of withdrawal fees collected from affiliates placed in the matrix.
How many matrix levels a Cash FX Group affiliate earns on is determined by how much they’ve invested:
- invest at the 300 or 500 package tiers and earn 3% on levels 1 to 3
- invest at the 1K package tier and earn 3% on levels 1 to 3 and 5% on level 4
- invest at the 2K package tier and earn 3% on levels 1 to 3, 5% on level 4 and 6% on level 5
- invest at the 5K package tier and earn 3% on levels 1 to 3, 5% on level 4, 6% on level 5 and 10% on level 6
- invest at the 10K package tier and earn 3% on levels 1 to 3, 5% on level 4, 6% on level 5, 10% on level 6 and 30% on level 7
- invest at the 20K package tier and earn 3% on levels 1 to 3, 5% on level 4, 6% on level 5, 10% on level 6, 30% on level 7 and 20% on level 8
- invest at the 30K or higher tiers and earn 3% on levels 1 to 3, 5% on level 4, 6% on level 5, 10% on level 6, 30% on level 7, 20% on level 8 and 10% on levels 9 and 10
A 10% matching bonus is also paid out on residual matrix commissions earned by personally recruited affiliates.
Leadership Bonuses
Executive and higher Cash FX Group affiliate ranks purportedly correspond with associated Leadership Bonuses.
At the time of publication these are not included in Cash FX Group’s compensation material.
What we do know is that when a personally recruited affiliate qualifies at the same rank, the recruiting affiliate receives 50% of their Leadership Bonus.
Joining Cash FX Group
Cash FX Group affiliate membership is tied to a $300 to $100,000 initial investment.
Once a 200% or 400% return has been generated, reinvestment is required in order to continue to participate in Cash FX Group’s income opportunity.
Conclusion
Cash FX Group claim to generate external ROI revenue through “assisted trading systems with algorithms”.
No evidence of any trading is provided, nor does Cash FX Group disclose any information about their purported trading activity on their website.
Furthermore, whilst clearly offering a passive investment opportunity, Cash FX Group provides no evidence of having registered itself with financial regulators.
Instead the company states it is
Regulated by the following institutions: FAC – Financial Conduct Authority of London, DFSA – Financial Services Authority in Dubai, FSCA – Financial Sector Conduct Authority of South Africa and FSA – the Financial Services Authority of Seychelles.
Dubai and Seychelles are scam-friendly jurisdictions with little to no regulation, so we can ignore them.
The Financial Conduct Authority, incorrectly cited as the “FAC”, regulate securities in the UK.
At the time of publication Cash FX Group is not registered with the FCA.
A search of authorized financial service providers registered with the FSCA also reveals Cash FX Group is not registered to offer securities in South Africa.
Beyond the usual meaningless shell incorporation, it’s probably a safe bet Cash FX Group and its operators aren’t registered to offer securities in Dubai or Seychelles either.
More importantly, I’ve personally witnessed a number of US-based promoters hosting Cash FX Group prelaunch opportunity calls.
Cash FX Group is not registered to offer securities in the US.
Unless Cash FX Group registered with financial regulators in each and every jurisdiction it solicits investment in, the company and its promoters are operating illegally across the world.
Without legally required financial regulatory registration, Cash FX Group investors have no way of verifying the company is using external revenue to pay returns.
At some point Cash FX Group will probably provide social media videos of purported traders and trading activity, but this is not a substitute for registering with regulators.
Nor is it actual evidence of external revenue being actually used to pay affiliates.
Outside of Cash FX Group’s passive investment opportunity, the company operates as a pyramid scheme.
There are no retail customers in Cash FX Group (retail customers paying 30% withdrawal fees?), meaning 100% of commissions are tied to recruitment.
Furthermore it is in the MLM side of the business that one can confirm Cash FX Group is operating as a Ponzi scheme.
If I sign up as a Cash FX Group investor with the aim of generating a 400% return, I do so by recruiting new investors and them doing the same.
My 400% return is thus literally paid out of subsequent investment.
If recycling invested funds is happening on the MLM side of the business, rest assured it’s happening on the trading side of the business too.
Secondary to investment and pyramid fraud is “pay to play”.
Cash FX Group’s compensation plan demonstrates pay to play by restricting matrix levels based on how much an affiliate invests.
In MLM commission qualification should always be tied to sales volume, not how much an affiliate themselves spends or invests.
As with all MLM Ponzi schemes, once affiliate recruitment inevitably dies down so too will new investment.
This will starve Cash FX Group of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
I hear none other than the MAJOR SCAMMER Faith Sloan is pimping this scam!
She needs to be arrested NOW!
You can add serial scammers Luigi Bruni and Justin halladay to that list.
Along with barrel scrappers like Lee O’shea, Guillermo Joya, John Kinnear and Paul Rubinstein.
Ronald Aai’s response to Cloud Token shills jumping ship? (Facebook)
Funnily enough Luigi Bruni responded:
Justin Halladay also responded with a “focus” meme.
Sssh, nobody mention the Cash FX Group elephant in the room.
I do not know where the serial cheater Bernie Cadiz from Vancouver bought my email address, but since 2013 this crook tries to lure me into various fraud systems. This year, he is actively promoting fraud with CASHFX Group.
share-your-photo.com/1a21dd21fe
share-your-photo.com/c192c656ea
The business card of Bernardo “Bernie” Cadiz:
share-your-photo.com/f15868cfad
On linkedin.com, Bernie Cadiz describes himself as
share-your-photo.com/c6dc35431d
These poor bastards that participate will find just like in the other scams John Kinnear promoted as in Trade Coin Club the same end game rip off will be realized to late.
Once you reach your 200% or 400% cap and have to re invest to keep earning the funds you had accumulated, your initial investment and any gains you did not withdraw will be locked up in another contract and not available for withdrawals as those funds are principle investments.
Only the so called “returns” are available for withdrawal and with a hefty 20% fee.
Review updated with details on founder and CEO Huascar Lopez.
*Cory Stuart* is the name of another American serial scammer punting this OBVIOUS scam on Facebook and soliciting it by infiltrating random people’s comments.
The “COO” is Najib Kassis: snipboard.io/ulp1Nw.jpg
Although his Linkedin page says he is Sales Director, not COO: linkedin.com/in/najib-kassis-4677631a/
Previously Kassis was Sales Manager for IronFX. IronFX don’t exactly have an unblemished reputation (forexpeacearmy.com/forex-reviews/7653/www.ironfx.com)
And prior to working for IronFX, Kassis worked for Banc De Binary which similarly suffered huge regulatory issues and poor reputation: en.wikipedia.org/wiki/Banc_De_Binary
while most are discussing its flaws and accusations that they don’t “physically trade” which in fact they do and give you full access to all the trades they are partaking in which can be watched live but only those who sign up see whats going on through their back office.
whilst most talk shit other people are quadrupling initial investments. everybody in cashfx makes money those who choose to hold their dicks in there hands n watch. may the lord bless you with some common sense.
1. This is not a substitute for registering with financial regulators and providing audited accounting reports.
2. “Showing trades” is not evidence of Cash FX Group trading and actually using that revenue to pay returns.
Cash FX Group can show you any bullshit in your backoffice. Ask yourself why they choose to commit securities fraud.
Or don’t. The Lord doesn’t give a shit about your Ponzi scams.
Hey Oz, I’m just curious. If what you say here is correct, why would people like Ron Pope (Conversion Pro) and Oscar Lopez good for 2 billion dollars put their name on this company and risk their good name and reputation if this is a scam?
What do they have to gain. They sure as hell don’t need more money so what is their agenda?
One more thing. Is there any MLM that is not a scam in your eyes? I love the business model but need a company I can get behind. Any surgestions?
Same reason anyone else who’d turn a blind eye to securities fraud would. Greed.
Having money isn’t an invincibility shield against Ponzi scamming. That and you’ll probably find Pope and Lopez aren’t “good for” anywhere near $2 billion.
I don’t make personal opportunity recommendations. BehindMLM reviewed MLM opportunities as we come across them, or reader’s request a review.
Huaacar Lopez was connected to another scm conpany called Forcount. Now adter scamming all those people there, he is here.
When will these assholes be vrought to justice? and when wikl his victims get back their money?
When will this one fail hearing withdrawls are slowing down ???
Same as any other Ponzi scheme, when new investment runs dry.
So much misinformation and crap in this “review” it’s laughable if not sad. I’ve been involved since October, and my account is growing steadily. Already withdrew & upgraded once, and about to do so again.
Pretty sure you never got involved. And you sure don’t have the correct information.
CFX isn’t regulated dude, the brokers are. And CFX doesn’t claim they are. They claim their brokers are. And their brokers have backed these claims.
Also, the commission’s are totally wrong. We earn a commission based on 50% of the educational portion taken out of the package price. That is 30%. So we make 15% of any of the investments of our personal referrals, not 50% like you stated.
The 200%/400% is totally off as well. We are capable of earning 200% of the face value of our investment through passive trading.
We can make an additional 200% through referral and team growth. Might help if you really understood how the Bear & Bull side of things really work.
But, I know it doesn’t matter what I say because you will just claim I’m either brainwashed, or a scammer myself.
Truth is, you are wrong on so many points. And if you are wrong on small details, you obviously aren’t a reliable source for a “review” in full.
Do your homework next time dude.
Whether you’ve personally stolen money from people who joined Cash FX Group after you is neither here nor there.
If you have an alternative Cash FX Group compensation plan, feel free to share it.
Cash FX Group’s comp plan is the same whether you’re involved or not involved in the company.
Cash FX Group’s brokers aren’t offering a passive investment opportunity. Cash FX Group is.
Securities are very much regulated by financial regulators in practically every country.
Cash FX Group is not registered with the SEC or any other securities regulator. Therefore it is operating illegally the world over.
There’s only one reason an MLM passive investment opportunity opts to operate illegally. Ponzi scheme.
This might have changed since the review was published.
200% + 200% off the same amount = 400%. Math checks out.
We’ll still be here when Cash FX Group inevitably collapses and you pretend you had no idea it was a scam.
Seeing as you’re a reinvestment pleb, sorry for your loss in advance.
My team hasn’t grown a bit since November as none of us are recruiting, so how am I still seeing gains? Why is it that the live trading I can see in my back office lines up 100% with what I am seeing in my daily gains?
I did a lot of research into CFX before getting involved. I even sat and watched a few friends for 2 months before I finally got involved myself.
In fact, I read this review before getting involved back in October. I’m so glad I didn’t allow your misinformation to steer me away from getting involved. The fact that you put out incorrect information compared to the presentation is what helped me to disregard this review in general.
Had you got involved and not received your withdrawal, I would have listened. Instead, you have no real information, and you have no counter for the real results I have seen.
The joke is on you bud.
Because a Ponzi pays out as long as there’s new money coming in or the admins do a runner. Doesn’t matter whether you personally recruited new investors or not.
The rest of your comment is your typical “lulz getting paid, don’t care” rubbish.
After over ten years of covering scams like Cash FX Group, this is why I have little to no patience for Ponzi victims.
MLM + passive investment opportunity = securities
No SEC registration = illegal
illegal MLM offering passive investment opportunity = Ponzi scheme
It’s that simple.
Looks like you need to update your review. CashFX show lives trades in real time – even available to the public on YouTube. What an incredible opportunity.
Update what? Putting on the usual Ponzi theater is not a substitute for legally required regulatory registration.
You can’t make the claim that CashFX used external revenue to pay investors until it is registered and providing regulators with audited financial reports and disclosures.
If CashFX was in fact only using trading revenue to pay investors, why operate illegally? Obvious Ponzi is obvious.
I was sent the video of their Panama Launch in November 2019 and immediately my scam alert was in overdrive.
The first few minutes of the show was theatrical comedy worthy of immediate Federal Bureau investigation. The Lopez and Abad comedy show nearly self destructed when Edwin tripped and nearly fell as both were under the influence of narcotics.
The launch was a parody of errors and whoever did not see the obvious warning signals at the time are egotistical and chasing the title of forex investor as a boast to entice people who will be in the secondary tiers below them and have genuine tears when this SCAM SCHEME obliterates their criminal investments.
I suggest laying criminal charges now in your respective countries. Surely the investors should also be criminally charged as individuals and face civil claims for fraud.
Gregory Billings
(Ozedit: email removed)
I know Guillermo Joya personally and he does not own anything.
Someone please ask him to show his bank account. I doubt he has close to 1k on it. Bitcoin?? Not even half of one.
He works at the social security administration. He is not a big time Guru.
Interesting take! You seem determined to bring disrepute on Cash FX just for the sake of it and without proper due diligence.
After I completed my due diligence I invested some dollars and am receiving TRADING returns every week without fail and able to withdraw my funds.
This is not a scam or fraud, the broker is highly regulated across the world and openly endorses CFX.
You sir (creator of the website) are missing out on one of the best MLM opportunities ever to be seen!
Dismissing the fact that CashFX Group committing securities fraud because it’s a Ponzi scheme isn’t going to cut it.
1. Your due diligence skills are shit if you overlooked the fact CashFX Group is committing securities fraud.
2. You personally stealing money through CashFX Group is neither here nor there. Ponzis pay out until they don’t.
“The broker” isn’t offering the passive investment opportunity, CashFX Group is.
CashFX Group isn’t registered to offer securities in any jurisdiction. Securities fraud = scam.
I was signed up to this by a family member without my permission. Getting the fraudulent use of my name removed is proving difficult.
The family member has used many family names and seems to have been encouraged to do so. I am having to threaten legal action against family because of this.
Hello, can you please explain why – using CashFX as an example – if these companies are so clearly committing “securities fraud”, why the authorities are not arresting the owners and shutting CashFX down? They have had over a year to read your report.
That’s a question for the authorities.
We can only identify instances of securities fraud. Regulation is up to regulators.
So you don’t see that there may be something wrong with your logic?
You claim that companies are committing securities fraud. The companies claim they are not not committing securities fraud. They continue to do business.
The authorities whose job it is to charge companies with securities fraud do not do so. Sometimes they issue warnings not to invest (see MTI) but they do not charge securities fraud.
If the companies claim they are not committing securities fraud, and the authorities allow them to operate then …… ?
MLM + passive investment = securities offering.
Not being registered to offer securities and offering securities = fraud.
It doesn’t matter what “the companies” say, facts are facts.
That doesn’t change the fact that Cash FX Group is committing securities fraud.
Not being shut down by authorities != permission to commit fraud by authorities.
Nope, there’s something wrong with yours. You got the “if it’s not charged (yet) it can’t be a scam” fallacy.
This is a “red herring”. It neither proves NOR disproves whether _____ is a scam. There could be many reasons why the government had not acted yet. Maybe they are investigating already.
Nobody knew Secret Service was investigating ZeekRewards until receiver shut it down. Later we learned agents actually joined to gather evidence.
Nobody knew Homeland Security was investigating TelexFree until it was shut down.
Just because the government has not acted does NOT prove they will NEVER act.
And then there’s the question of WHICH government will act, when now a suspect scam is global?
Your logic doesn’t hold water at all.
CashFX do not trade they have a 3rd party company do that it is spread all over their webpage. This 3rd party company IS regulated.
(Ozeidt: recruitment spam removed)
CashFX Group offer securities. CashFX Group are legally required to register with financial regulators in every jurisdiction they solicit investment in.
Whether some third-party is registered with one regulator or not is irrelevant. CashFX Group are running the passive investment MLM opportunity.
Cash Fx is a classic scam. I have joined a group and so many will lose out.
i think they are overlooking the risk and only see 100k which they think they will get in 4 years.
its also very suspicious that payment is only in bitcoin, and cash fx claim to trade on forex.
Stay away and keep your money for something legitimate.
I think alot of you people who have not researched this opportunity believe it to be a ponzie scheme which it would be if it was soley dependant on new participants.
The company generates it’s profits by trading Forex through EverFX (a company which is fully registered). This is the “product” they offer and this is how the honor their financial commitments to the participants.
The members purchase finacial contracts with CashFX and the company adds 70% of that value to the trading pool, the remaining 30% is distributed among the members in the form of bonus’s and fast start payments.
These funds are only for members who choose to market the company and build a team underneith them the same as any other MLM or scheme.
Building a team and/or marketing the company is purely optional and you are rewarded if you bring new people into the network.
You have an opportunity to earn an additional 200% but it is not guaranteed but you can achieve it if you actually work at it.
You can simply be a passive investor without selling anyone anything and net out 60% on your investment each cycle, at current payout rates of 5% average per week it will take approx 20 weeks to be paid out for the contract.
For the math challenged that is about 2.6 cycles per years or a NET ROI of 156% after the deduction of the cashout fees of 20%, remember this is for only buying the contracts not promoting or building a team, you can earn even more, up to a max of 200% (remember this part is not guaranteed) if you decide to build your team though.
If you have a question drop me a line and I will answer them if I can. (Ozedit: attempt to take discussion offsite removed)
1. Prove it with legally required financial regulatory registration and period filed audited reports.
2. Whether EverFX is registered or not has nothing to do with CashFX committing securities fraud.
3. Companies that commit securities fraud for a year and a half have no legitimate source of external revenue.
4. MLM + securities fraud = Ponzi scheme.
I await your response to the above facts.
Believe what you wish. LOL.
Thank you for confirming you’re full of shit and unable to address actual facts. Best of luck with the scamming.
Can anyone explain how CashFX is commiting sécurities fraud?
I invested and made my money back and was thinking about telling others about it now. If this isn’t legal, please tell me how and why. I don’t have experience with this.
MLM + passive investment = securities offering.
CashFX Group isn’t registered to offer securities in any jurisdiction.
Unregistered securities offering = securities fraud.
Great website and keep up the gr8 work exposing these fraudsters.
If this wasn’t a steaming pile of shit waiting to collapse why would the ‘members’ of this great opportunity be on here defending it? Why not sit back and let the passive income roll in. ROFL timber…..
James, I do not think Cashfx is a PONZI. What you need to realize is that there are EAs that are performing very well (Ozedit: unsubstantiated claims removed, see below)
Feel free to provide audited financial reports detailing EAs and any other nonsense you want to claim CashFX Group is doing.
Failing which, CashFX Group is committing securities fraud and running a Ponzi scheme.
when you invest with cashfx and obiviously they are not regulated so they are using everfx as a registered broker… if cashfx is legit why don’t they become regulated?
And not use another company to trade on their behalf… theres just so many red cards..
I see many people defending cashfx here…. There were multiple ponzi schemes / pyramid schemes before them and they don’t last long…
At the end everyone loses their money and it’s a shame… Cashfx uses people to scam other people to join for a reward… So who ever is participating in cash fx is equally guilty…
I will come back to this thread 2 years time… And I will start a go fund me page for all these people who lost their money in cash fx.
CashFx Group’s securities offering falls under securities regulation.
Who they do or don’t use to do anything is irrelevant.
They have hired a lawyer who use to work for the SEC to help them become compliant with the SEC. It’s not that easy because of the algorithm trading and the fact that it’s in the bitcoin and can’t be taxed.
Doesn’t mean they’re not trading or not trying to become regulated. They have to deal with the SEC for mlm side and CFTC because of the use of bitcoin to become regulated, no easy task.
They’re spending millions and it’s possible they may never get approved.
I think CFX would have collapsed by now if they we’re paying out with new member money with so many people ranked up to the 100k trading packs the new member money of the $300-500 packs coming in doesn’t support the large payouts
^^ Absolute bullshit. All of it.
1. Prove it. Who is the lawyer?
2. You don’t need a lawyer to register with the SEC and start filing audited financial reports.
3. You can’t lawyer your way out of committing securities fraud from at least July 2019. That’s not how regulation works.
CashFX Group is committing securities fraud. This has nothing to do with whether bitcoin can or can’t be taxed.
If CashFX was using trading revenue to pay withdrawals, they’d have no issue registering with the SEC and providing legally required audited financial reports.
Again, since at least July 2019 this hasn’t happened. There’s only one reason MLM companies commit securities fraud:
MLM + securities fraud = Ponzi scheme.
Prove it. Because registering with the SEC doesn’t cost millions.
Nor does the SEC approve companies. Any company can register with the SEC, there is no approval process.
All Ponzi schemes inevitably collapse when withdrawals exceed new investment. When CashFX Group collapses has no bearing on it being a Ponzi scheme.
This issue is not about registering. It’s about being compliant as I mentioned to you they have to deal with SEC and CFTC. Because of the computer algorithm trading and the fact that it can’t be taxed because of bitcoin it would not be compliant.
Their legal team are working with the SEC and CFTC so that CFX would be compliant.
If they Registerd right now the wouldn’t be compliant because of what I said above hence the millions spending on legal fees to work with SEC and CFTC to structure CFX in a way to become compliant.
You can’t be securities compliant in the US without first registering with the SEC.
This has nothing to do with securities regulation. All CashFX Group has to do is register with the SEC and file audited financial reports proving external revenue is being used to pay withdrawals.
This needed to be done before a single cent was solicited for investment.
How the external revenue is generated is irrelevant with respect to securities regulation.
Prove it.
Prove it.
CashFX Group has been committing securities fraud in the US (and everywhere else in the world) from day one.
As I’ve already stated, you can’t lawyer your way out of securities fraud – the horse has already bolted.
If they registered, they are currently not compliant for reasons stated twice already. Hence the legal team working with the SEC and CFTC so when they do register they will be compliant.
I don’t know how else to dumb this down for you.
Putting aside the fact that CashFX Group’s existing securities fraud cannot be undone (and is very much a legal liability), registering with the SEC and providing audited financial reports is not some great mystery that requires a multi-million dollar legal team.
You register with the SEC, hire a financial auditor and file those reports. Again, this doesn’t negate existing securities fraud, which CashFX Group has been committing since at least July 2019. But it’s all that’s required for securities compliance in the US going forward.
I don’t know how else to dumb this down for you.
Okay let’s say CFX registers tomorrow with SEC. they get shutdown for not being compliant for reasons listed over and over again to you as their legal team has told them would happen because their negotiating for them on their behalf. Or alternatively they don’t accept members in the US.
As their currently doing while their legal team works with the SEC amd CFTC to structure CFX in a way that would make them Compliant.
If you were CFX which option would you chose? Register and get shutdown or listen to the lawyers and try to see if they can become compliant whether they’re successful or not time will tell.
You seem like a know it all which avenue makes more business sense?
That’s not how securities regulation works. In addition to registering CashFX Group would have to provide legally audited financial reports, preferably backdated to July 2019 or earlier.
This doesn’t negate securities fraud but is a start. Going forward CashFX would have to continue to file audited financial reports.
I can’t state this any clearer: There is no way to lawyer your way out of the above requirements. Nor can you lawyer your way out of already committed securities fraud.
This is the bare minimum required for CashFX Group to be legally compliant in the US. The company also has no retail offering and operates as a pyramid scheme, in violation of the FTC Act.
There is nothing, I repeat nothing, that CashFX Group can do to stop the SEC investigating securities fraud already committed.
That is how SEC works. You have to be compliant with their regulations. CFX lawyers have made clear SEC has a problem with the algorithm trading and not being able to tax because of bitcoin.
It doesn’t matter if they send audited financial reports. That’s not the problem the SEC has with them. How many times do I have to repeat myself?
Your so bent on being right that you’re ignorant. They do not accept members in the US because of the advice of their lawyers until such time they can be compliant with SEC regulations and if they can’t. They will never accept members for the US then.
As stated, all that’s required is CashFX Group registering with the SEC and filing audited financial reports.
That’s it as far as securities regulation compliance goes.
They don’t. Algorithm trading is perfectly legal in the US. There is no mention of algorithm trading in the Securities and Exchange Act.
The SEC has a problem with securities fraud, which CashFX has committed and continues to commit from day one.
As many times as it takes for you to realize that Ponzi marketing bullshit won’t fly here.
This is meaningless pseudo-compliance waffle.
Luigi Bruni, Justin Halladay, Faith Sloan and the rest of them are US residents who have been promoting CashFX Group to US residents from day one.
Securities fraud has already been committed, there’s no “getting into compliance”. At best CashFX Group can register with the SEC and provide audited financial reports – and hope the regulator doesn’t go after them for already committed securities fraud.
This of course won’t happen because CashFX Group is a Ponzi scheme and has been since launch.
The SEC has a issue with the algorithm trading being combined with mlm and bitcoin not their financial reports end of story.
Luigi Bruni lives in Montreal Canada and is under the same account as Justin halladay. That’s how he’s allowed to be in CFX. They have a corporate account that is a registered Canadian business.
The SEC regulates securities, which is what CashFX Group illegally offers.
The SEC does not regulate algorithm trading, MLM or bitcoin individually, and neither are illegal in the US.
Doesn’t matter how its set up on CashFX Group’s end, US residents are in CashFX Group and have been promoting unregistered securities to US residents from day one.
Time will prove it when copy trading is released shortly showing full transparency and proof of trading.
Try to register from a US IP address it won’t allow you.
Time will prove it when copy trading is released shortly showing full transparency and proof of trading checking off a lot of boxes for regulatory approval. Live event tomorrow in Punta Cana celebrating one year anniversary and the launch of new products such as copy trading being released
Try to register from a US IP address it won’t allow you.
No time won’t prove anything. Securities fraud is securities fraud.
The SEC doesn’t give a fuck about IP addresses or shell company shenanigans.
US residents involved? Securities fraud has been committed in the US. End of story.
Live copy trading coming soon 100% full transparency. End of story your ponzi allegations will be trumped.
I could give a shit if they’re approved in the US I don’t live there.
Like I said, you can’t retrospectively cancel out securities fraud that has already been committed.
MLM + securities fraud = Ponzi scheme.
Anyone reading this should take away the fact that nonsense talk about lawyers and SEC registration, is CJ admitting CashFX Group has been operating illegally in the US.
CashFX Group isn’t registered to offer securities in any jurisdiction, including wherever it is you live. Best of luck with the scamming.
CFX does not allow new members currently from the USA. CFX has hired (unsubstantiated claims removed)
@CJ
Taxing someone based on their “btc” income is not a problem in most of thoses 180 countries. unless your in some obscure 3dworld country just reach out to your Tax office/ Tax authorites.
I think you fail to se the forest becuse of all “your” tree.
Securites offerings must be registerd whit the authorites (be it tulips, oil, our “insert random name” get rich quick scheme.
You need 3d party verifed (thats one of the things requierd for registration) accounting, so your “epic offering” is not just paying of old investors whit new investors monies (feel free to change investor to whatever a person buiyng into the schema is called.
You do this “before” you take in any monies, and you stick whit it on a yearly basis as a company, its a good thing becuse when its “aproved” as a security the sellers of said security are able to (and usaly requierd) to have insurance , incase thay unkowingly scam somone….
whitout it the seller is personaly responisble for any loss the buyer may suffer.
Bitcoin is anonymous currency, unless its converted back into fiat currency it cannot be taxed.
Members are paid in bitcoin when they withdraw. If that member chooses not to put their btc into fiat currency it is anonymous and can’t be taxed.
I have checked with a charter accountant in Canada about this. This is a major hurdle regulators have.
Their’s no guarantee members will exchange their btc received from CFX back into fiat currency and claim tax. They can keep it as BTC and avoid tax. That is a fact and regulators have a problem with that.
While you were bashing your head against a brick wall against the definition of a security, you forgot to provide any proof of this whatsoever.
Let’s ignore for a second that CashFX is committing criminal offences by not providing this proof to securities regulators in any country it offers its investment scheme in. You also have to provide this proof to people you’re trying to persuade to invest in your scheme, unless you’re relying on your only investors being complete idiots.
Where is your proof that CashFX is (belatedly) registering with the SEC or generating returns of 15% per week? This proof could include copies of the SEC applications which could be verified as genuine by SEC officials, or monthly accounts audited by reputable accountants showing money coming in, money going into forex trading, much more money coming back and returns being paid to investors.
“We’ll be able to prove our 15% per week returns in 2021” = “we can’t prove it”.
CJ, CJ, CJ, how very wrong you are. ALL cryptocurrencies are taxable.
cpajournal.com/2019/01/24/the-taxation-of-cryptocurrency/
irs.gov/businesses/small-businesses-self-employed/virtual-currencies
canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/compliance/digital-currency/cryptocurrency-guide.html
Complete bollocks.
(a) Lots of things that aren’t money are taxed, everywhere. A lot of cryptoloons harbour this fantasy that cryptocurrencies exist outside the law, including tax law, but they’re wrong.
(b) The SEC is a securities regulator, not a tax agency. What taxes are paid on any income derived from securities has got absolutely nothing to do with them.
Worldwide, while I suppose it’s possible there are countries where taxation and securities/financial services regulations are handled by the same government agency, in every country I’ve ever heard of these regulators are separate bodies.
That’s because the two things haven’t got anything to do with each other. Even countries that don’t have income tax at all have securities regulators.
That some assets can be more easily hidden from the taxman than others doesn’t mean they’re not subject to taxation.
If I have a bank account in some offshore tax haven country, with considerable income going into it, and I don’t declare that account and that income on my tax return here in my European country, obviously I am not going to pay any taxes on it.
That doesn’t mean I have made myself exempt from taxation, it means I have chosen to become a criminal tax evader. For how long I manage to keep that fact hidden from the authorities is irrelevant.
Also, Bitcoin isn’t anonymous at all. It’s pseudonymous. The moment it’s figured out who is behind a pseudonym, all the transactions ever made by the person hiding behind it are right out there, fully documented on the entirely public blockchain, with a complete lack of deniability.
As a great many criminals, including tax evaders, have already found out.
@CJ
We went through this nonsense yesterday. You were repeatedly asked to provide evidence of your claims and instead of that, you’ve come back to regurgitate the same nonsense I addressed 24 hours ago.
If you can’t provide evidence of your claims, admit as much and we can all move on.
Nobody is claiming 15% a week. It’s averaged 4% a week for for the 12 months it’s been around
That’s what regulators have a problem about it’s easier to hide bitcoin from taxation whether or not it’s legal to hide it or not. They have a problem with that.
You net 60% of every package you purchase, there is no 500% return you guys are claiming.
That’s your ROI 60% not 500%. All members are all aware of this you keep 60%
The SEC don’t regulate tax, they regulate securities. Last time I’m stating this.
CashFX Group is committing securities fraud. MLM + securities fraud = Ponzi scheme.
Tax fraud is an issue for the IRS, and has nothing to do with securities fraud. Any further tax derails will be sent to the spam bin.
As for 15% a week, that’s from CashFX Group’s own marketing material. The review acknowledges CashFX Group market a weekly return capped at 15%.
As at July 2019, total returns were capped at 200% (passive) and 400% (passive + recruitment commissions).
200% on passive side. 20% withdrawal fee which funds the forced matrix 20%.
Your left with 160%. You have to upgrade or renew to keep earning. 100% has to be reinvested yo continue. Your left with net 60%.
Lots of members are customers and don’t promote it and don’t earn on the mlm side. They net 60%.
Earning are capped at a max 15%. Never happens. In the last 12 months you’ve been able to withdraw 4% a week on your bear capital average on which is 70% of a $1000 package.
Your earning on the 70% because 30% got paid out to the mlm side. And does everytime you upgrade or renew your package. They trade 70% of your capital which you can withdraw about 4% a week average in last 12 months.
You will not earn 500%. You will net 60%. This is a real review from a member who gets paid every Saturday and withdraws every week. You will earn 60% ROI not 500% like OZ claims.
How CashFX Group screw investors over is neither here nor there. 200% is what was advertised.
Regulators can add CashFX Group’s false advertising to their list of fraudulent claims if they wind up filing a complaint.
Nonetheless, a 15% cap is what was advertised.
These aren’t my claims, this is straight from CashFX Group’s own marketing at the time of publication.
200% gross. A little simple math can figure out the net in a few minutes like I did before signing upon you follow the money.
You can earn 500% if you signed up 1000 people. Most members maybe sign a couple up if any. They net 60%
15% is the most they could potentially pay out. Never seen it happen you can expect 4% a week after withdrawal fees.
Plenty of disclaimers letting you know that past results doubt guarantee future results and no where does it promise 15% and my sponsor certainly didn’t tell me that’s what they make.
Results aren’t guaranteed in future could be less. Maybe will see 15% but I seriously doubt it. Expect 4% a week or less.
Really not interested in nitpicking Ponzi math. Up to 15% a day and a total 200%/400% ROI is what was advertised.
Against the backdrop of CashFX Group committing securities fraud because it’s a Ponzi scheme, arguing how much CashFX Group screws over investors vs. what they advertise(d) is academic at best.
I think given how far off you are on your math (Ozedit: as stated, the “math” is figures CashFX Group advertised, derails removed)
CashFX Group commits securities fraud. MLM + securities fraud = Ponzi scheme. Feel free to address that.
Not interested in how much CashFX Group screws investors over versus their marketing claims. That’s for regulators to sort out when the time comes.
CashFX Group being a Ponzi scheme is of far more importance here.
You never did any research or due dilligence past reading an advertised headline that’s designed to get you to click on it to find out the net return. And your calling CFX the scam.
Uh no, this review is based on material put out by CashFX Group itself (comp plan, website, official marketing etc.).
CashFX Group is a scam because it’s a Ponzi scheme. Making fraudulent marketing claims is part of the package.
Nit picking certain parts of information for your opinion does not qualify a credible honest review. If it was you will show readers all the information and the net return.
CashFX Group committing securities fraud is literally the focal point of the review. It’s right there in the review’s title.
Readers will take away that you’re pointing out CashFX lies about its returns, and that you’re a Ponzi shill unable to address CashFX Group being a scam.
Best of luck with the scamming, I believe we’re done here.
Keep talking, “CJ”
You’re exposing your complete and utter ignorance of how securities laws, ponzi fraud and pyramid schemes work in the real world with every word you type.
It’s actually bloody funny watching you regurgitating the nonsense the fraudsters used to suck you in while presenting it as “facts”.
Dunning-Kruger on full demonstration: they are too ignorant to realize their ignorance when they are arguing out of ignorance.
Re. my comment #68: I see now that paragraph 6 of what appears as my own text should have been marked as a quote from CJ. Sorry.
Think I got it.
Unfortunately for the “CJs” of the world, the ponzi / pyramid industry recognizes the existence of the effect and actively encourages it’s effects on their victims.
To some the absence of a head office might seem like a trivial detail but it was held out by CFX as a symbol of their legitimacy.
In all their videos they talk about how the office shows they are established, serious and legitimate. Now it’s been a year and they are forced to lie about why it doesn’t exist.
The only measure of legitimacy when it comes to passive investment MLM opportunities, is registering with securities regulators and providing audited financial reports.
Everything else doesn’t matter.
They say they have 120,000 participants but the numbers on social media and YouTube don’t reflect that. The numbers suggest around 10% of that number.
In any case, when they decide to pull the plug and run with a hard drive full of Bitcoin, they may get away with tens of millions of dollars.
Long gone are the days when criminals needed to launder money or bury cash in the garden. Now they simply have a hard drive in their pocket containing millions of dollars.
Invested $300 with them last week. My package was returns after 24 hours. Later they asked to deposit another $299 for financial service.
I refused to pay and asked for a refund of my capital. They refused and now are saying they will only release my payments if I pay them the so called financial service amounting $299.
Maybe someone can advice me on this.
You invested in a Ponzi scheme and now your money is gone. Sorry for your loss.
Hi Oz, thanks for your review and continuing comments: CFX is the first time I’ve encountered a scheme like this ‘in the wild’ after I heard that a family member was shilling it.
Alarm bells immediately sounded, but there was no reasoning with this guy, he’s a true believer.
Interestingly, I think he has come under the influence of a dubioua ‘life coach’, judging by the ‘positive energy’ bullshit (which seems standard Ponzi language) he has been spouting for a few years, and that’s how he was recruited.
Another acquaintance was recruited by a chropractor quack – definite theme of one scam begets another.
Please keep up the good work.
Sorry to hear about your family member but thanks for the support!
EverFX is not associated with Cash FX Group
thisismoney.co.uk/money/experts/article-9046201/amp/Is-CashFX-real-trading-outfit-just-Panama-pyramid.html
I saw someone belligerently talking on this thread, about EverFX as being proof of validity. This here shoots that claim down.
If this has already been posted, my apologies that I missed it and please disregard this message.
Thank you for running this forum, I honestly did think I was crazy because I had like 4 ppl telling me that Cash FX Group is awesome.
I know about 10 ppl on FB who constantly post about their financial opportunity and how much money they are making and how awesome that is and the only thing that really stops me from going nuts is knowing I am right and they are wrong, and they are stealing money from people.
But are they offering Securities? Do you know Securities regulations?
@Q
MLM + passive investment opportunity = securities offering.
Securities regulations around the world require registration with financial regulators. Then you need to file periodic audited financial reports.
This is to verify you are doing what you claim to be and all payments in and out of your company are accounted for.
MLM Ponzi schemes like CashFX Group don’t register or provide audited reports to regulators, because they are Ponzi schemes.
@oz
So it is a ponzi scheme? Is there evidence?
MLM + securities fraud = Ponzi scheme
@Oz
Did the multiple securities commissions state CFX as Fraud? Or did behind mlm state it?
Financial regulators don’t issue securities fraud warnings unless they find securities fraud.
We also found securities fraud, as detailed in our CashFX Group review. You don’t need to be a financial regulator to identify securities fraud.
Given that you keep insisting that CashFX is committing securities fraud please note below:
Ergo there is no fraud as far as SEC is concerened.
Investopedia
The SEC regulates securities. CashFX Group’s passive investment opportunity = securities offering.
The medium a security is offered over is irrelevant. Another strawman argument, yawn.
Maybe it’s just me but maybe you have difficulty with English . The SEC DOES NOT REGULATE OR HAVE AUTHORITY OVER FOREX. It does not regard forex as a security. Therefore there is no fraud.
Your argument is null and void!
Forex is not a security! Ergo your argument is “irrelevant” to use your term.
What you are presenting is an opinion not the law! Be brave enough to add the addendum “in my opinion”!
The SEC doesn’t but the CFTC certainly does. Quick peek at their forex fraud advisory page:
cftc.gov/LearnAndProtect/AdvisoriesAndArticles/cftcnasaaforexalert.html
How much do you want to bet that CashFX is not registered or licensed.
And you seem to have a comprehension problem.
MLM + passive investment opportunity = securities offering.
CashFX Group’s MLM opportunity = securities offering.
Securities are regulated by the SEC.
CashFX Group’s MLM opportunity is regulated by the SEC.
There is no exemption for forex in the Securities and Exchange Act.
If you have to create strawman arguments you’ve already lost. Opinions don’t matter, facts do.
These are not straw man arguments. You make the claim of fraud. Just by dint of being a trading based mlm. MLM + passive income is not a fraud. (Ozedit: snip, derails removed. See below.)
I’m not claiming anything. It is a matter of fact that CashFX Group is committing securities fraud.
Nobody said it is.
MLM + passive income = securities offering.
Not registering securities offering with financial regulators = unregistered securities.
Unregistered securities = illegal.
Please hire a translator if English is not your native language.
Oz might not be happy to go as far as saying it, but i’m more than happy to.
MLMs (not selling an actual product) + Passive income is a Ponzi and will end up in fraud *BOOM*
Go ahead and prove me wrong strawking Andy C.
I’ll even be nice give you a few days to find audited and registered examples since I already know the answer to that.
See the trick is, if they don’t sell a product,but a service, and that service is financial they need to be registered and audited to do it surprisingly.
And no, education packages arent products, they are smokescreens to fool individuals such as yourself that lack critical thinking ability into believing there are products being sold. Dont be that guy.
Right, but CashFX isn’t FOREX. If I were to sell shares in a gold mining company and didn’t register with the SEC, I could hardly claim that I didn’t need to register because “gold is a commodity, not a security!”
I hope that is obvious to you, because if not, you might as well stop reading now.
Back to my gold-mining company. Let’s say that instead of selling shares, I just say, “Give me some of your money, and I’ll pay you a return from my gold mining profits.”
That’s a promise of passive returns on your investment, and it counts as a security every bit as much as selling shares does. (This is the basis of the Howey test, which you should look up if you’re unfamiliar.)
Replace gold mining with FOREX trading, and that is what CashFX is offering. They’re accepting money, claiming to do FOREX trading, and paying passive returns to investors. That is a security, and must be registered with the SEC.
If CashFX were really trading FOREX, they would have no problem with registering with financial regulators. The fact that they haven’t means one thing and one thing only: they are not doing what they claim to be doing.
They are not trading FOREX, they are using newly invested funds to pay earlier investors: a Ponzi scheme.
This scenario plays out over and over and over in the MLM underbelly, and Oz has boiled it down to a simple equation:
It doesn’t matter what the MLM company claims is their source of income. If via MLM they offer passive income, that is a public securities offering, and must be registered as such. Not to do so is de facto securities fraud.
CashFX may claim otherwise, but if they do they’re lying.
(Ozedit: strawman derail removed)
FOR CLARITY ONCE AGAIN THE SEC DOES NOT REGARD FOREX AS A SECURITY THEY HAVE SAID SO. Even so they can only regulate companies operating in the USA. CshFX is not available in the USA. You cannot register with CashFX with a USA address!
(Ozedit: derails removed)
You are SURMISING that CashFX is not trading when in fact they are. You cannot show any evidence that they are not (Ozedit: derails removed)
@Andy C., you should have quit while you were behind, but since you insist on showing your ignorance, let me educate you and hopefully it will sink in this time. You really do have a reading comprehension problem.
First, Amos_N_Andy never mentioned CashFX being MLM with his facts. Those same rules apply to “EVERY” company offering securities.
Since you said and I quote:
then they must be registered to trade FOREX in every county where they do business. NO EXCEPTIONS to this rule. They ARE NOT REGISTERED ANYWHERE to trade FOREX. This means they are operating “ILLEGALLY.”
Your problem is you cannot PROVE that they are trading FOREX. If you could you would have provided the proof, and you didn’t.
Just your usual hot air rhetoric trying to deny CashFX is a Ponzi and ironically you have proven they are operating ‘ILLEGALLY’ by your claim they are trading FOREX.
In the US, you do not register with the SEC to trade FOREX. You register with NFA (National Futures Association) and the CFTC enforces the rules of commodity trading.
As for not accepting members from the US, that is total BS. If you are from the US all you have to do is use a VPN and you are in. So that is a lie they don’t accept US investors.
You still don’t get it that inaction by regulatory agencies does not make a company legal. There have been countless warnings from numerous countries for their citizens not to get involved. They don’t issue those warnings lightly.
To have an investigation started, there have to be victims filing complaints with their regulatory agencies.
No-one knows if anyone has or not, or if an investigation is underway as I type this.
Good grief, one of the biggest Ponzi pimpettes in the US admitted CashFX is a Ponzi and it’s all she knows how to do.
Now if you still don’t get it, then you are denser than a concrete block, and I’m being polite with that observation. Somehow I don’t see you getting your head out of CashFX’s arse, or yours, and having to admit you are wrong.
I am sure you will ignore everything I have said and come back with another smoke and mirror response trying to deny what has been explained to you countless times.
All you have accomplished is to show your ignorance and refusal to accept the truth.
@Andy C
What does my being for or against MLM have anything to do with the fact that CashFX is committing securities fraud? Fraud is fraud, whether MLM is attached to it or not (though in this case, it is).
It’s fraud whether or not FOREX is a security, because CashFX isn’t offering FOREX; they’re offering a security of their own.
You give them money and they promise to give you a return on your investment. That is a security, whether they say they are trading FOREX or growing apples or buying and selling real estate, it’s still a security they are offering. That has been the law of the land in the US since 1933, and was confirmed when the SEC went after W. J. Howey in 1946 for offering unregistered securities by way of pieces of his citrus groves.
Oranges aren’t securities, yet Howey got dinged anyway. Go figure. Please stop harping on the fact that FOREX is not a security; it’s not germane.
It also doesn’t matter whether or not they are trading FOREX. Whatever they claim to be doing is immaterial. Whatever “proof” they may provide to back those claims is also immaterial.
They are offering you a passive income if you give them money. That is a security and must be registered with the SEC.
You want me to “prove” CashFX is not trading FOREX? Why should I? It’s not incumbent upon anyone to prove CashFX is not doing what they claim to do.
It is incumbent upon CashFX to register their security offering and provide regular third-party audited reports that show they are doing what they claim to do.
What? The SEC isn’t going to shut down MLM; the SEC doesn’t even regulate MLM, the FTC does.
And the FTC has gone after MLM companies they have determined were operating as a pyramid scheme rather than legal MLM. Vemma and Advocare are recent examples.
The SEC will go after an MLM that is committing securities fraud, but that would be because they are committing securities fraud, not because they are MLM.
Zeek Rewards and OneCoin are recent examples of MLM securities frauds that the SEC and the DOJ (Department of Justice) have gone after.
Has nothing to do with the fact that CashFX is committing securities fraud. Also, Advocare and Vemma had products, yet were still prosecuted by the FTC for being pyramid schemes.
Yeah, yeah, and every company is a pyramid scheme. The army is a pyramid scheme too, right? Strawman harder.
Nope, you’re just taking things out of context to fit your world view.
Your so-called passive income does not FIT within the Amway Safeguard rules that have been in effect for decades. You HAVE to sell to remain qualified. AND your download needs to sell too. And that’s got nothing to do with this scheme.
As for whether forex is considered securities is irrelevant. This is not trading forex. You’re putting money in and let someone else (the bot, supposedly) trade it for you.
You are INVESTING in trading forex. That’s securities, not forex. If you cannot see that you’re one layer removed, that’s on you on propping up a strawman and not seeing the difference.
See #107.
CashFX Group isn’t registered to offer securities in any jurisdiction. They are illegal the world over.
The onus is on CashFX Group to provide evidence of external revenue being used to pay returns. If you and them want to make such claims you need to prove it.
I know you can’t, because CashFX Group isn’t registered with financial regulators and there are no audited financial reports.
Why? Because CashFX Group is a Ponzi scheme.
FWIW AndyC attempted to reply, I hit spam as it was the same points:
1. justifying CashFX Group committing securities fraud with pseudo “we don’t operate in the US” (even though they do) compliance, which ignores CashFX Group not being registered to offer securities in any jurisdiction.
2. something about not having to sell, which has no relevance.
3. insisting CashFX Group doesn’t offer securities when MLM + passive investment opportunity = securities offering.
Andy you’re welcome to:
1. Provide evidence that any financial regulator in the world exempts passive investment opportunities that claim to derive ROI revenue from forex trading from securities law.
2. If you can’t address point 1. above, then address CashFX Group committing securities fraud the world over.
3. CashFX Group’s top promoter Justin Halladay being a US resident.
4. the US being the second largest source of traffic to CashFX Group’s website (17% as per Alexa).
I’ll be marking anything else as spam as you don’t seem to be capable of actually addressing responses given to your scam excuses.
@Oz that’s so rude,I mean can you blame a scammer like AndyC for trying to protect his income source? It’s notoriously difficult for unskilled drones to earn money in any way that actually takes effort other than playing musical chairs with fellow ponzi scammers/victims and hoping you aren’t the last asshole out.
I’d reconsider since it’s unfair to censor him just because he’s a thieving dipshit trying to legitimize his crimes.
Whew now I have that off my chest, I hope the sarcasm was obvious enough.
Someone called me from a boilerroom Yesterday. They had a stock that wud excel.
An unknown company X, formed only 2 yeas ago, based in Panama had just Invented a new drug that wud cure cancer, beating all well-known pharmaceutical companies with 100+years experience.
Their own researchers were not known at all in the professional community.
Still, the stock was a bargain at 10p/share and they promised it wud rise to 100p when it got listed…
I Spent all my life as an FX dealer in one of the biggest bank in Europe. Being a traditional dealer, I still had quant people trying to figure out (write) the best algos for all market conditions.
They wud be more than happy with 2-3% yield/month (A big bank has big muscles :-))
These guys that wrote this incredible algorithm (probably in Panama) must still be well known in the quite small FX community.
Why is it nobody has heard of them? Where did they get their training? Why are´nt name published?
Why do they want to work for CashFX for peanuts?
If their track-record is real they wud be richer than Bezos, Gates, Musk and Duke of Westminster combined within a few months with a few friendly investors…
Conclusion: If something sounds too good to be true…. IT ALWAYS IS!!
Another regulator warning. This time Saskatchewan –
saskatchewan.ca/government/news-and-media/2021/january/27/cash-fx-group-sa-cash-forex-group-cashfx-cfx
Thanks for the heads up! Wonder if they’ll go after Bruni before the inevitable collapse.
Instead of AndyC trying to convince all of us how legitimate CashFX is and it is not a Ponzi or violating securities laws, he should contact the Saskatchewan authorities and all the authorities in the other countries that have issued their regulatory warnings.
After all, they have no clue what they are doing, and he can set them straight as to how CashFX is totally legal, they are not offering securities, and they’re not a Ponzi.
I expect to see all of the authorities immediately issue an apology and acknowledge they got it all wrong and AndyC set them straight.
Be interested in your view on this !!
UK Billionaire, Jojar Dhinsa, from Coventry in the UK has recently joined CFX. (Ozedit: spam removed)
My view is legitimacy via association isn’t a thing. CashFX Group is a Ponzi scheme.
Nick, he is not a billionaire, and probably not even a millionaire. It’s all bullshit. You probably hadn’t even heard of him before his involvement with CashFX.
He is just another scam artist jumping on the bandwagon and lol @ his lawyers “due diligence” if they even exist.
Oz, but for your insistence and sticking to your guns up to this point, I would have excused your ignorance of the updates and honest changes that have taken place in CashFx since you first made your findings and publication on company.
Perhaps, your critiques had helped the founders of CashFx looked inward to finetune their system, and you would have gotten some credits for that. But now, your malicious arguments and banal denial that CashFx is into a genuine business had rather drawn more of people’s sympathy for this great, transparent and life-transforming legacy company with sure longevity.
For more that one year with this company, I’ve seen tens of thousands of individuals lives and families finances turned around.
An amazing company that has made tens of thousands duds millionaires through real live trading in the Forex Market cannot be said to be a fraud, ponzi scheme or scam. I’ve been trading in the Forex market for years before joining CashFx and I can tell when I see someone trading real live; using my MT4.
I can prove to all readers here that CashFx Professional Traders are actually trading in the Forex Market and are making real money for members.
Only fools doubt proofs. Insisting on regulations to prove its genuineness before it can be acceptable is insistence in keeping vast number of people in perpetual poverty.
This is callous and wicked exhibition of petty jealousy and not an argument borne out of genuine concern for security of people’s investment!
But Remember, that when you insist on pulling others down, you must be ready to go down yourself. Stop It!
I’m not “sticking to my guns” I’m providing you with facts.
CashFX Group is the same Ponzi scheme it has been since day one.
No registration with financial regulators.
No audited financial reports.
MLM + securities fraud = Ponzi scheme
You’ve seen dick. A few people stealing money from people who invested after them is only proof of money being stolen.
So do it then. Proof of registration with regulators and filing of audited financial reports or GTFO.
Oz, what can you say about the UK Based Billionaire (Ozedit: see #125)
I hihgly doubt Jojar Dhinsa’s lawyers did any kind of real due diligence on the alleged trading.
People handling billions of dollars invested in Madoff ponzi as well.
Everybody gangsta until ponzi collapse..
WhistleBlowerFin: Doubters are always without. Pharisees never see far because they are always myopic in judgement.
Can you offer to do the due diligence for Mr Dhinsa? (Ozedit: derails removed)
If you want to “due-diligence” Dhinsa, do it somewhere else.
This is a review on CashFX Group, which by way of it committing securities fraud, is a Ponzi scheme.
What some deadshit nobody has ever heard of does or doesn’t do doesn’t change MLM + securities fraud = Ponzi scheme.
Because I’ve seen it before. Paid lawyers are not reliable to judge these “opportunities”. They should be, but too many times they are not.
Apart from the fact that nobody in the UK or anywhere else has ever heard of Joey-Jojo Dimbulb, if he’s a billionaire why’s he living in Coventry?
How many times do I have to say it. Jojar Dhinsa is a fraud and not a billionaire, probably not even a millionaire.
If he was I would be sued for libel by now as I’ve said the same on his LinkedIn and by direct message to him.
Jojar Dhinsa would be wasting his precious resources (time, energy and money) trying to kill a mosquito with AK47 for making noise to his ear.
Keeping silent while ignoring noisemakers seem to be the best answers to f**ls and suckers .
CashFx members who didn’t have $5000 to invest were recently invited to open a Copy Trading account with just $1000.
102 CashFx members took them up on the offer. So far they have lost half their money.
latest update – prnt.sc/107jo6l
Copying the trades of the CashFx pro traders?
Manitoba –
financemagnates.com/forex/brokers/canadas-msc-says-cash-fx-not-authorised-to-target-manitobans
They’re really skirting around Luigi Bruni operating out of Qubec hey.
Will Canadian authorities ever do their job?
Search for Jojar Dhinsa on Compaines House website. What do you find?
I’ve just come across a Cash FX pimp who is on my fb list. I didn’t realise she was a pimp until now.
When I come across one I usually broadcast links to all their friends about why they should not invest in such a company.
I usually get one coming back saying why people should and its all the same bullshit. The latest one claimed to be an ex financial advisor.
You would have thought such a person would have avoided such an “investment” as its not regulated anywhere.
Nothing that pertains to CashFX Group committing securities fraud because it’s a Ponzi scheme.
@indorob 2 junk companies with no accounts, overdue confirmation statements and proposals to strike them off the register.
@RobT that’s exactly right. Chatchit ltd. Appears to be a failed telcoms company. Nothing pertaining to Athlone Group.
Athlone Group’s website looks like it was developed very cheaply. Very little info.
Appears to be made up. Some charlatan from Coventry trying to make (illegally) a quick buck.
Either that or you’ve spotted why they’re an ex financial advisor.
Harold Shipman is an ex doctor, Madoff is an ex fund manager…
I saw a video the other day of a fake corporate lawyer (con-man/fraudster/scam artist) promoting it, his name is Chris Cramer but can’t find any info on him.
@Indorob, yeah it has been put together with a WordPress theme lol and has no ssl certificate.
Here’s a video exposé of Javier, one of the CashFX “pro traders”. Enjoy.
“cashfx scam javier leito is a taxi driver” – youtu.be/apiwZupFZPw
Former joiner to CashFX breaks down the various CashFX issues and lies:
[CashFX Review | The REAL Truth About CashFX – Ru’s Two Cents]
youtu.be/_hQNfV3Blos
Wow, Matias Lappo’s English and editing skills got a hell of a lot better overnight!
Within 24 hours of that video being released there were 1500 views and he received a letter from CashFX cancelling his account, demanding he take the video down and threatening legal action.
I wonder what they could be afraid of. Lol.
Lololol, the scammer using “Angie James” in the comments of the video is seriously butthurt.
That’s enough popcorn to feed someone for a week!
edit: It’s a real person with a string of failed MLM opp vids on her channel. Makes it even funnier lololol.
Yeah, took me a while to scroll past all her pontification.
Is there anything you can do to help that video spread? It’s had a really big effect and given the maths of Ponzi schemes, it could bring CashFX to an end if enough of them see it.
Here’s a follow up video to the first – youtu.be/oOy32TyLreo
On my radar, thanks!
Mmmmm why is the CashFX Facebook page blocked in the UK?
That video has made quite a few in my downline very upset. I had 2 people that were going to invest and now have pulled out. I told them I understand why.
I had to take no less than 15 video zoom calls to calm them down. A few were going to upgrade and have now backed out.
To show my confidence I upgraded my pack. CashFx has helped so many people including myself build our dream life.
I am happy the man in the video’s account was terminated. He deserves every penny gone and then some.
I hope CFX proceeds with legal action. This certainly has caused damage for many.
I had to take no less than 15 zoom calls to calm my downline down. A few were going to upgrade and backed out. To show my confidence I upgraded my pack.
This is a betrayal for all CFX members and will not be tolerated. I am sure he will learn his lesson spreading lies.
On what grounds?
CashFX Group is committing securities fraud around the world because it’s a Ponzi scheme.
CashFX Group know as well as you and I do that if anything was filed they’d lose. Facts hold up in court.
So let me get this straight. A video is made proving that CashX “Trader” Javier is really a Taxi Driver, and proud of it, but poor Howard had to make at least 15 videos to “calm” his people down.
Let me translate that for you: I had to make at least 15 videos of lies to counter this one video of truth. You really suck at this don’t you Howard.
If CashFX was real, it would have only taken you ONE video to prove it not 15 or more to “calm my people down” BS of yours. I would love to watch your 15 or so videos. I need a good laugh.
But I do agree with you Howard, I do want CashFX to sue the person who posted the videos. But hey it sounded good, intimidating and impressive, and you bought it didn’t you.
But alas, it is all talk and no walk and they will NEVER, EVER SUE ANYONE. They are as full of BS as you are.
Good luck with this. If there is one thing you scammers don’t want to get … it is an attention of investigators and justice.
@Lynndel R Edgington
You misinterpreted my post. I did 15 separate zoom calls with each person, not 15 calls with everyone. I wanted to hear everyone’s concerns since they all had some validity.
“I need to scam you personally” tactics? Well, not so efficient, but… still working for you, Walter! Let’s take more popcorn and wait for a bitter ending!
You missed my point. You should have only had to do ONE Zoom call if your Zoom call was the truth. In short you did 15 individual Zoom calls and so you could have had 15 different stories to tell depending on who you were talking too.
As long as the Zoom call was the truth, you didn’t need 15 versions of the truth. Problem is you can’t dispute that their great trader is a taxi driver. Someone I really want handling my money making trades for me.
I also know you didn’t tell the “truth” in your 15 different Zoom calls because you didn’t tell them CashFX is a Ponzi. That’s the truth.
Instead you wanted them to keep sending money so you could get your referral commissions. My bet is you have made all your money on referral commissions and a teenie-weenie amount from CashFX trading. You did tell them that truth didn’t you?
Face it, you’re a Ponzi pimp only out for yourself. You could care less about the people you conned into joining or you wouldn’t have gotten into this Ponzi in the first place if you cared one whit about “your people.”
You’re still trying to pretend CashFX is real and legitimate.
Quiet Troll
New Zealand government warning –
fma.govt.nz/news-and-resources/warnings-and-alerts/cash-forex-groupcashfx
credit to the Facebook Group – CashFX (in association with EverFX) Scam Now What!?
So much anger and hate… Has my video touched a nerve? Further to that, please correct just 1 of my apparent lies, Walter.
Because unlike you and every other shill punting CFX, I have taken the time to investigate and gather proof before running my mouth.
Go on, I’ll wait.
Oh dear I wish I came here before investing in CashFX. I put 10K in there now I am terrified.
My GF’s brother had suggested it since he was doing really good but it looks like that is about to come to an end. He made a few hundred K since he was one of the first to get into it.
I watch your video Ru’s Two Cents. Man I should have done more research. I am furious at myself. My Financial advisor suggested to avoid these platforms and now I understand why.
So does that mean my money is all gone or can I at least recoup something? I just joined a few days ago…
So payouts are still happening correct? I think I just want to get my money back if so…
A percentage of what you invested was paid to whoever recruited you. The rest will be used to pay withdrawal requests of other CashFX Group affiliates.
Might be lucky, depending. If you do get out learn the lesson.
This idiot OZ has been burning his energy against cashfx here since 2019 while I had not heard anything about cashfx but I joined 2020 I had made a furtune over (50,000 USD in Bitcoin) OZ is still saying the same thing.
You are loosing so much energy to demote a system that you can not stop,
Whether you stole $50,000 or $500,000, CashFX Group is still a Ponzi scheme.
I don’t lose any sleep over the Ponzi schemes covered here.
I’ll cover CashFX Group when it’s inevitably shutdown or collapses. Beyond that I couldn’t care less.
You will be here in the next 10 years begging cashfx made millionaire to pay your bill.
Someone come to think about it he has predicted it will not last for a year but it is already over 2 years someone should help me teach him when to go home.
He is just misleading others.
It’s too bad you didn’t learn math at school.
CashFX Group is no different to every Ponzi before it. Once invested funds run out, kaboom.
I don’t waste time predicting when Ponzi schemes collapse. They collapse when funds run out.
The first sign of that is withdrawal problems, which CashFX Group has had repeatedly.
It’ll end on its own, its pretty fun to pick at all the lies though while victims like you come to defend theft.
Aren’t there kittens that need drowning somewhere you could rather spend your energy and stolen money on you scum of the earth bedwetter?
Not only did you fail math at school but basic reading as well? Damn man what a sad state.
I get that you can’t get an actual job with your lack of education,but at least try to not spread your brand of stupid over the internet. Stick to your cult-meetings where they appreciate a lack of intellect.
While you may have made $50,000 in Bitcoin, you sure didn’t make it in CashFX. Big difference, and trying to equate the two is laughable.
If you really are claiming that you made $50,000 in CashFX you are lying. There is no way in Hades that you made $50,000 in CashFX if you didn’t join until 2020. Heck I doubt if anyone who joined CashFX from the beginning has been able to receive that much money from it.
By the way, it is not earned money it is stolen money and you know it.
While CashFX may show you with $50,000 in your account, there is no way that you withdrew that amount of money. It is all numbers on a screen.
I will give you credit for attempting to try and fool everyone here, but it was just that an ATTEMPT. So cut the crap as no-one here with an IQ higher than 90 is buying your BS.
Hey, CashFx members! Ru found the CashFx office. It exists … in your imaginations.
youtu.be/_WziOwlVR7s
Well, well. Huascar has just released a video showing that in fact CashFx has no office.
Huascar has given us a tour of the same office space as in Nov 2019. There’s still nothing in it.
Since March last year they have been saying “it’s almost ready” and “an opening is imminent and even recently “we are looking at a first quarter 2021 opening”.
Huascar has shown us that they were lying all along. There is no CashFx office.
Philippines –
sec.gov.ph/advisories-2021/cash-fx-cash-fx-group-cfx/
Thanks for the heads up!
EverFX UK licences revoked –
register.fca.org.uk/s/firm?id=001b000003YCVKZAA5#what-can-this-firm-do-restrictions
Courtesy of the team at the Facebook Group – CashFX (in association with EverFX) Scam – Now What!?
Nice ,this should shut some irritating people up.
CashFx exit scam coming. To be announced at the end of month call. They have run out of money to pay members.
Roaches have many lives, i’ll cross my fingers it finally exits though.
CashFX has just announced a system improvement – you don’t need to withdraw any money (phew)! You can upgrade within the system.
The fools who put money into CashFX are ecstatic! They don’t realise the reason for this is that CashFX has run out of money and they are trying to stop withdrawals.
They haven’t paid withdrawal requests from back on May 15 and 22 (despite saying it will take 72 hours).
The bogus “Bitcoin volatility” excuse doesn’t really work since Bitcoin has been quite steady lately.
Allowing backoffice monopoly money does avoid paying out money CashFX Group doesn’t have.
Why anyone would get excited about compounding non-existent funds is beyond me. Numbers on a screen I suppose.
Oz – looks like CashFx has run out of money. They are dribbling out some payments, probably from the scarce money coming in.
Why do you think they bother with the charade? Why the fancy or long exit scam? Why don’t they simply disappear? For example, why did QubitLife bother ?
I rate they hope for whales to come in with fat pockets and extend the run.
I’m not surprised to hear CashFX Group is having payment problems again. The rest of the same era Ponzi schemes have collapsed.
The answer is regulators and law enforcement.
It’s all very well to make tons of money running a sizable Ponzi scheme but unless you’re Boris in Russia, Dubai or some other no laws jurisdiction, getting away with it needs planning.
Shutting down and disappearing triggers a ton of complaints. This is why we have the same exit-scam models used over and over again.
The idea is to reduce victim complaints. Less heat = less chance a regulator will open an investigation. Less chance a criminal case will be filed against you.
So Ponzi scammers string their victims along, sometimes for months on end. Over time a lot of them just give up and move on. Some are embarrassed. Some have no shame and go on to promote new scams.
The net effect is a reduction in complaints, both in overall quantity and over time.
Thanks for taking the time to explain 🙂
A number of my acquaintances are infected by this charade and the sooner it goes, the better I feel.
CashFx hasn’t paid any requests made after 29 May.
In response to a growing number of complaints they have just announced that they are going through social media and shutting the accounts of anyone who is making negative comments. Haha.
The scam exit by a thousand cuts. The multi-pronged scam exit if you will.
Checked CashFX Group’s socials and they’re being coy about it.
Can I get a copy of this message (imgur)? Thanks.
I believe this is the message you’re looking for:
facebook.com/photo?fbid=198940262131253&set=pcb.1459900324373123
Also some copies of messages regarding the social media censorship that’s going to be enforced now currently circulating online and in the
channels:
scontent.fsin10-1.fna.fbcdn.net/v/t1.6435-9/205863989_10226261778991755_1243676885409536794_n.jpg?_nc_cat=108&ccb=1-3&_nc_sid=825194&_nc_ohc=VQ9hHAj95QkAX9tUQOS&_nc_ht=scontent.fsin10-1.fna&oh=c4762464f6642036c674a37f3ffa135f&oe=60DED38A
scontent.fsin10-1.fna.fbcdn.net/v/t1.6435-9/205526907_1158024348014535_1380421068490901900_n.jpg?_nc_cat=104&ccb=1-3&_nc_sid=b9115d&_nc_ohc=ssU7QkVHKPEAX8wMX0v&_nc_oc=AQnssn8viQSdF3CegW_FTVl4FKAh6lGLUDBd5lKD3zYiqb0xlnzdUSDOFDu0u8uomGVlhok19zL6RoxeNUSSKBMx&_nc_ht=scontent.fsin10-1.fna&oh=aff71f059d0078a41f5932dd43c32009&oe=60DEA2E9
scontent.fsin10-1.fna.fbcdn.net/v/t1.6435-9/205516862_1158024358014534_3157437429185893492_n.jpg?_nc_cat=108&ccb=1-3&_nc_sid=b9115d&_nc_ohc=D6IFCSD686MAX9doUpO&_nc_ht=scontent.fsin10-1.fna&oh=50934ce1f3ec02bcb731b307003fdd8e&oe=60DEFAFB
Awww yeah. Thanks for that. Content will be out late today (real life stuff to deal with).
South Africa:
fanews.co.za/article/compliance-regulatory/2/financial-sector-conduct-authority-fsca-was-fsb/1059/fsca-warns-the-public-against-cash-fx-group-cfx/32303
Courtesy of the “CashFX Scam Now What” FB group.
Thanks for the heads up!
Ireland –
centralbank.ie/news-media/press-releases/warning-on-unauthorised-firm-cash-fx-group-5-july-2021
Courtesy of the “CashFX Scam Now What” FB group.
Thanks for the heads up!
Saturday NO PAY day again!! WEEK 6!
Welcome to the 6th Saturday that CashFX members will request a withdrawal and not receive any money.
How many weeks of not being paid is it going to take them to realise that CashFX was just a Ponzi scam?
(Saturdays of course will never be the same again. Legacy company!! Not getting paid on autopilot. Feeling considerably less blessed.)
But but but how can that be? We had one or two investors on here claiming their June withdrawal requests were paid. Oh noes!
Funny that!
There are a lot of very nervous CashFX members out there. That pesky payment processor is really causing problems. Lol
In their latest announcement they hope to get June 5 requests paid soon. They are working hard to get it done. Haha
Do you happen to have heard any explanation how the payment processor can be so far behind,but still make the odd payment? Seems like a pretty shoddy design haha /sarcasm
A nice summary of the CashFX Ponzi scam – youtu.be/QJQs7wk6HnA
BehindMLM gets a credit too.
June 5 – some scattered low value payments to keep the masses hoping. No one on large packages got paid for this week.
June 12 – no one got paid
June 19 – no one got paid
June 26 – no one got paid
July 3 – no one got paid
July 10 – no one got paid
July 17 – no one got paid
Who can spot the pattern ?
Spencer Cornelia exposes Jojar Dhinsa – CashFX’s “billionaire” member.
youtube.com/watch?v=oOCdABaTvzY
New video of the CashFX office emerges. After two years they have built … half a kitchen.
youtu.be/6DFNQUDSWkA
“I was invited by the boss to check out a half finished kitchen”.
I get there’s nothing much going on at CashFX Group but Why would you even bother making this video?
The last phase in the death of a Ponzi scam … KYC! This is the way the scammers get all your details to sell on the black market AND avoid paying you (the information you provide will never be enough for you to get paid again).
Sorry for your loss CFX members but we have been telling you since day one how this would play out. Your smart ass answers and stupidity have been excruciating at times.
Thanks for that.
I said it back in June and I’ll say it again: KYC means dick when half the world has issued securities fraud warnings against you.
Luigi Bruni? Gone to Panama. What a coincidence!
facebook.com/bitcoinsluigibruni
Richard Maude? Disappeared!
Hmmm. “Travelling” or “I’m staying here”.
For all the CashFx members who are concerned about withdrawals, here is a video explaining how much you will receive from now and an explanation of your rights.
youtu.be/M5QGkOGZubQ
Hahaha.
I’ll see your “Hahaha” and raise you one “HAHAHAHAAAAAA!”
Mmmmm, I wonder why the original US promoter of CashFX Zeb Summers has just scrubbed his YouTube channel and website of CashFX and posted a video completely denouncing our fine company?! Does he know something?
Might be getting a bit nervous seeing Luigi and Justin fleeing their countries.
Portuguese authorities have issued a warning about CashFX. Don’t they realise that CashFX has an office and that it’s a real game changer?
visao.sapo.pt/atualidade/economia/2021-09-27-sociedade-cash-fx-group-sem-habilitacao-para-exercer-atividade-financeira-bdp/
Singapore:
mas.gov.sg/investor-alert-list?rows=All&page=1&q=Cash%20Forex%20Group
Thanks mate. Picked up TriumphFX on their list too.
CashFX just announced that they haven’t been able to pay coz they were fighting a cyberattack. LOL
A thwarted hacking attempt won’t have any effect on payment requests. Those are sent to a payment processor and paid out.
The only thing that stops that is no money in the CashFX Group’s processor account.
Going to watch this one. If withdrawals are still disabled next Monday I’ll put together a report.
Fake Huascar makes a fool out of serial scammer Matt Feast (who has fallen out with CashFx and now declares they are a Ponzi scam (coz he didn’t get his commissions haha)) –
facebook.com/groups/900705770292584/permalink/1567490700280751/
YouTube has taken down the CashFx YouTube channel.
Interesting development. 404 would suggest YT took action, otherwise I believe we’d be seeing a the channel this account/video was associated with has been deleted” type message.
Can’t say for sure though as it’s ambigious.
I too have grown my account from the trading but its monopoly money.
i have a friend who claims 1.5 million business from this, I keep pointing out that commisiions weekly are not money its only money i.e. getting paid when its in your bank account.
It appears only the top end of the food chain are getting paid. I have stopped promoting this as i feel horrified that i have been conned into conning friends and family.
so james , tom and a few others on here, try to remember thatits only working if its in your bank account.
Edwin Abad is painted by CashFX as the FOREX guy. He’s the “head of trading”. But what in fact is Edwin’s background?
We can see here that Edwin was in charge of a South American Ponzi scam originating from his home town called – GDPS RED. What a surprise! He doesn’t have a background in FOREX at all. He is a Ponzi scammer just like the rest of them!
facebook.com/groups/900705770292584/permalink/1578348675861620/
And we all know what Huascar was up to! MyFunLife!!
youtu.be/qEfwMO20Exk
None of them have trading experience. They’re all MLM promoters that went under the radar because none of them are native English speakers.
CashFx is now 10 weeks behind in payments. It’s over.
Many members still waiting on October withdrawal requests. CashFx now 7 months behind in payments!
But the majority still believe it’s real.
it is almost 2 years since cash fx denied us to withdraw our money.
The Marketing director John Kinnear used to gve weekly seminars resigned because he became under severe pressure from customers not being paid.
Huascar Lopez is hiding between Dominican republic and Panama, i hope someday he gets arrested. Everyone should report and add the pressure to these scammers.