MarfinFX Review: 4% a day “we do everything” crypto Ponzi
MarfinFX provides no information on its website about who owns or runs the company.
MarfFinFX’s website domain (“marfinfx.com”) was privately registered on June 18th, 2021.
Despite not existing until a few months ago, MarfinFX falsely claims it has been around since January 2020.
In an attempt to appear legitimate, MarfinFX provides a UK incorporation number for Wardham LTD.
An MLM company operating or claiming to operate out of the UK is a red flag.
UK incorporation is dirt cheap and effectively unregulated. On top of that the FCA, the UK’s top financial regulator, do not actively regulate MLM related securities fraud.
As a result the UK is a favored jurisdiction for scammers looking to incorporate, operate and promote fraudulent companies.
For the purpose of MLM due-diligence, incorporation in the UK or registration with the FCA is meaningless.
MarfinFX also contradict their claimed UK incorporation in their website FAQ:
Is Marfinfx officially registered?
Marfinfx ltd is legally registered. It is a listed investment company in Greece and It’s incorporated in Cyprus.
The company’s shares are currently listed on Athens Stock Exchange.
This appears to be an attempt to rip off Marfin Investment Group Holdings (dba Marfin Investment Group), an unrelated company based out of Greece.
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.
MarfinFX has no retailable products or services.
MarfinFX affiliates are only able to market MarfinFX affiliate membership itself.
MarfinFX’s Compensation Plan
MarfinFX affiliates invest cryptocurrency on the promise of advertised returns.
- Plan A – invest $100 to $19,000 and receive 1.6% to 2.2% a day for 10 days (116% to 122%)
- Plan B – invest $20,000 to $49,000 and receive 2.3% to 2.8% a day for 20 days (146% to 156%)
- Plan C – invest $50,000 to $79,000 and receive 2.9% to 3.5% a day for 30 days (187% to 205%)
- Plan D – invest $80,000 to $100,000 and receive 3.6% to 4% a day for 50 days (280% to 300%)
Note that while the above investment amounts are quoted in USD, MarfinFX solicits investment in bitcoin and etherum.
Also note that MarfinFX charges a 3% fee on all withdrawals.
The MLM side of MarfinFX pays on recruitment of affiliate investors.
MarfinFX pays referral commissions down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 7%
- level 2 – 4%
- level 3 – 2%
Global Representatives earn 10% on level 1, 6% on level 2 and 4% on level 3.
Note that MarfinFX do not provide Global Representative qualification criteria.
MarfinFX affiliate membership is free.
Full participation in the attached income opportunity however requires a minimum $100 investment.
MarfinFX solicits investment in bitcoin and ethereum.
MarfinFX claims its the “best trading platform”. To that end MarfinFX represents it generates external revenue via the usual suspects:
There is no evidence MarfinFX is engaged in any of these activities. In fact there’s no evidence MarfinFX generates external revenue at all.
Not withstanding if MarfinFX was able to generate 4% a day, they wouldn’t need investment from the public.
As it stands the only verifiable source of revenue entering MarfinFX is new investment.
Using new investment to pay affiliates a daily return makes MarfinFX a Ponzi scheme.
In addition to running a Ponzi scheme, MarfinFX is also committing securities fraud.
MarfinFX fails to provide any evidence it has registered with financial regulators. Instead it abuses the name of an unrelated company, the name of which it has evidently stolen.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve MarfinFX of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when hey collapse, the majority of participants lose money.