FX Prog Review: Forex & stocks management = 22% daily ROI?
FX Prog provide no information on their website about who owns or runs the business.
The FX Prog website domain (“fxprog.com”) was privately registered on October 19th, 2017.
A UK incorporate certificate for “FX Prog Limited” is provided, which corresponds to a October 23rd incorporation.
Adam Paul is listed as the sole Director of the company through an address in London.
The name is generic enough to cast doubt on whether Adam Paul, as represented by FX Prog, actually exists.
A UK incorporation is cheap and easy to provide bogus details on, making it a favorite among scammers attempting to fake legitimacy.
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.
FX Prog Products
FX Prog has no retailable products or services, with affiliates only able to market FX Prog affiliate membership itself.
The FX Prog Compensation Plan
FX Prog affiliates invest funds on the promise of an advertised daily ROI.
- invest $10 to $50,000 and receive a 10% daily ROI for 15 days (150%)
- invest $500 to $50,000 and receive a 12.5% daily ROI for 10 days (125%)
- invest $1000 to $50,000 and receive a 22% daily ROI for 5 days (110%)
Referral commissions are available on funds invested by recruited affiliates, paid out down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 7%
- level 2 – 2%
- level 3 – 1%
Joining FX Prog
FX Prog affiliate membership is free, however affiliates must invest at least $10 to participate in the attached income opportunity.
The ruse behind FX Prog’s daily ROIs is trading by a “professional forex & stocks management team”.
Amusingly FX Prog claim to “have many years of experience” with a “good reputation and popularity”, despite only being incorporated last month.
Naturally no evidence of trading of any kind is provided, much the less trading revenue used to pay a daily ROI.
Furthermore FX Prog’s business model fails the Ponzi logic test.
If the admin(s) behind FX Prog were able to legitimately generate a daily ROI of up to 22% (over 8000% annually without compounding), why would they be soliciting investment from randoms over the internet?
The reality of FX Prog is that new affiliate investment is the only verifiable source of revenue entering the company.
The use of newly invested affiliate funds to pay existing investors make FX Prog a Ponzi scheme.
As with all Ponzi schemes, when affiliate recruitment drops off so too will newly invested funds.
This will starve FX Prog of ROI revenue, eventually causing a collapse.
The math behind a Ponzi scheme guarantees that when it collapses, the majority of investors lose money.