Dealing with cryptocurrency seems like a great deal but I am sure you know there are many scams out there that don’t live up to the hype.
Does it mean that Cash FX Group is a scam?
Let’s find out more.
In the following article, you are about to learn what is the Cash FX Group all about, who is the founder, how much you have to invest, and most importantly whether your investment is safe and how much can you make.
Disclaimer
Please note, that I am not a member or an affiliate of Cash FX Group.
This review is based on research and information available online in the public domain.
Any recommendations and conclusions are only opinions and may not apply to all persons or situations.
Quick Overview
Name: Cash FX Group
Website: https://cashfxgroup.com/
Price to Join: $300 to $100,000
Recommended: I don’t recommend it (possibly a pyramid scheme)
Cash FX Group Review – Summary
Cash FX Group is a new investment company dealing with Bitcoin. It was founded in 2019 and the headquarter is in Panama.
It is said that you can get up to a 15% return on your investment weekly.
Does this sound too good to be true?
The company trades Forex with Bitcoin.
Forex itself can be risky and on top of it add the high volatility of bitcoin and you get the picture of how risky this model might be.
At this point, it seems that people do make money, but it is important to mention that this money is most likely money that newcomers put into the system.
Let’s see how the Cash FX Group will do in 2021, but I personally wouldn’t invest my money in this company.
If you are really interested in trading, I can show you a legitimate company that has plenty of educational materials, provides trading signals and members have direct access to the mentors.
It is also great for beginners. The name of the company is Forex Signals and you can find out more about this company at the link below.
You have a free 7-Day trial.
What is Cash FX Group
Cash FX Group is an investment company that offers you the possibility to invest your money in the Crypto and Forex trading business and promises you big returns in a relatively short period of time.
Imagine making 15% weekly, on your investments.
Sounds awesome right?
But whenever something seems too good to be true, that most likely is.
Let’s take a better look at the Cash FX Group.
It operates as an MLM, which means Multi-Level Marketing.
If you already heard something about the MLM (and I am sure you do), then you know that there is a big emphasis on recruiting.
I bet you also have seen some other reviews or YouTube videos where people leave comments about how great this company is and that you can join it by contacting that person.
Before we go any further I would like you to have a look at the 6 signs of the pyramid scheme:
I am not in a position to claim the Cash FX Group is a pyramid scheme. But I would like you to know what are the typical signs of a Pyramid Scheme, so you are aware of them.
With that being said, let’s go back to the Cash FX Group review.
In principle, you can join the company by buying a Trading Pack and Academy Pack.
That allows you to:
- Earn Trade Rewards
- Access to the Academy
- Be a part of the Affiliate Program
There are several different packs for different prices and we will get to that shortly.
Your money then is exchanged for Bitcoin and then it enters the Forex market.
Allegedly people behind the Cash FX Group, are professionals and can make a profit for you up to 15% weekly.
Now the question is – do your money get all the way through to the market?
This is an open question and there are a lot of rumors out there saying that your earnings are based only on the newcomers’ money.
What else do we know about the Cash FX Group?
Cash FX Group was founded only in 2019. Apparently, they have more than 60,000 members from more than 180 countries.
The majority of people coming to their website (cashfxgroup.com) are from:
- USA 22%
- UK 15%
- Canada almost 10%
- South Africa 7.8%
- Trinidad and Tobago almost 7%
Also, the number of visitors to their website grows so it indicates that more and more people are interested in doing business with them.
The company is based at the following address:
RBS Tower, Ave Balboa, Ramon H. Jurado St. 9th floor, Punta Paitilla.
You can form your own opinion about the fact that the company is based in Panama.
Founder of Cash FX Group
The founder of the Cash FX Group is Huascar Lopez and he is also a CEO.
He is from the Dominican Republic and back in 2009, his uncle taught him what network marketing is. Soon after he founded his first business as a tour operator.
In 2014 he started working with cryptocurrencies.
Apparently, since 2016 he has traded more than $100 million in cryptocurrencies and eventually founded the Cash FX Group.
One Note:
Not long ago, it was no information on their website regarding the founder of the Cash FX Group.
It just seems strange that they added this info only later on.
Who Is This For?
Well, anyone can join the Cash FX Group, but would that be a good investment?
Are we to believe that it is really easy to make a 15% profit weekly? And BTW the returns are paid in bitcoin.
I understand that the notion of get-rich-quick is really tempting and most people are willing to risk their money.
I don’t know about you but I am hesitant when it comes to such claims.
I personally do not recommend joining the Cash FX Group.
Generally, the Forex and Crypto trading niche is not for beginners and many new companies are aware of this fact and try to take advantage of people who are just about to start.
Cash FX Group is a new company (the website was registered only in 2019) and there are already some issues and complaints from people who did try to make money with the Cash FX Group.
On the other side, you will see a bunch of reviews (totally another extreme) saying that this is a perfect company.
Well, I would not be so sure.
Cash FX Group has been already accused of being a pyramid scheme.
In 2019 it was issued a warning by UK financial regulatory (FCA) saying that Cash FX Group “has been providing financial services or products in the UK without our authorization”
The problem is that most people see big returns in a short period of time.
And yes, there are folks who made money by investing in the Cash FX Group, and for time being they are probably making a profit.
But for how long?
There are many cases of pyramid schemes and Ponzi schemes that used to “work” for several years and were eventually crushed.
Again Cash FX Group has been around for only a little over a year as of this writing.
Better Solution?
Here is the #1 Rule:
Don’t invest money you can’t afford to lose!
And if you have the money you can afford to lose, do your due diligence and invest in companies that are authorized.
So if you are serious about trading here are authorized companies you might want to check out (source: Investopedia)
- London Capital Group (LCG): Best Forex Broker for Beginners
- XTB Online Trading: Best Forex Broker for Low Costs
- Saxo Capital Markets: Best Forex Broker for Advanced Traders
- IG: Best Forex Broker for the U.S. Traders
How to Join the Cash FX Group?
Do you want to know a little bit more about the company?
Well, you can’t just join the company without a sponsor, to me it is an outright red flag (is it just me?)
Why would I need a sponsor to sign up?
Here is when I wanted to register:
See, you can’t log in “just like that” and this to me is a warning sign.
You guess it right, I don’t like MLM models, since they heavily rely on recruiting. That is where the real money is.
I believe if you have the same opinion about the MLMs, you are done reading and I wish you a great rest of the day.
But if you want to find out more, you are welcome to read further.
As already mentioned Cash FX Group works like an MLM company and you can’t simply join. You must have your sponsor (or upline) and using his link you can join the company.
Your upline gets a commission that is paid from your initial investment.
I believe that there are many better opportunities than MLM companies (let alone a mix of MLM and cryptocurrency).
How Much Does It Cost?
You can sign up for Cash FX Group assuming you have your sponsor.
After confirming your email you get into the portal where you can choose from the package.
- Academy + Trading pack (most popular – according to their website)
- Academy Pack
Let’s take a look at the costs of the 1st option, the Academy + Trading Pack.
It starts with an Elemental package where the price ranges from $300 to $3,000:
to Advanced that costs from $5,000 to $20,000…
…and finally, the Supreme packages cost from $30,000 to $100,000!
Getting quite steep, ain’t it?
Here is the price breakdown of the Academy Pack:
With the Academy pack, you can choose
- Module 1 & 2 and pay $240
or choose
- Modules 1 to 4 and pay $900 + additional fees (a couple of bucks).
There is a note in case you have chosen the wrong package you need to contact Admin. That would be OK but are will be charged a 5% Admin Fee!
It sounds like a lot to invest, right?
And there is something more…
Another point that is important to mention is that there is no evidence that investors are paid by external revenue. In other words, there is no evidence that investors’ money actually gets to the forex market.
Besides, the company can’t offer securities anywhere in the world.
I could offer you another option about how to generate income, but it does not concern trading or MLM.
And the way I earn money online requires a bit of effort and time.
In case you want to know more, let me know in the comment section at the bottom.
Is Cash FX Group a Scam?
So far there is no proof that Cash FX Group is a scam.
However, I would be very careful with this company.
There are a few signs that Cash FX Group might be a new pyramid scheme.
Do the people involved in this company make money?
Yes – there are many “happy” people claiming that they withdraw their money on regular basis.
Good for them.
They probably will want to recruit you, since they make commissions off of you.
Could it be that Cash FX Group is a pyramid scheme and people still make money?
Sure.
According to their website statistics, we see that they have more and more visitors.
Based on that it is safe to assume that there is still money coming into that system.
But for how long?
Let’s use a basic example – Shell Game.
According to Wikipedia:
“Fraudulent shell games are also known for the use of psychological tricks to convince potential players of the legitimacy of the game by allowing a player to win a few times before beginning the scam.”
Isn’t the Cash FX Group still in an early stage where their clients still make some money?
What I like about Cash FX Group
- At this stage, there are people making money, probably from recruiting new members.
What I don’t like about Cash FX Group
- Legal issues
- Possibly a pyramid scheme (considering the age, and the legal issues already in place)
- Reported Withdrawal delays
- Cash FX Group is not registered to offer securities
- Many complaints about the Support
Some Thoughts at the End
If you want to learn how to trade it is advisable to deal with financial firms that are authorized.
Above is the list of companies that are authorized forex dealers.
These companies do not promise you high returns simply because they must be realistic, and they have to inform you that there is always a risk involved.
So I am curious, would you take a chance and join the Cash FX Group?
Why?
Let me know please in the comment section below.
Also if you are part of the Cash FX Group already, could you please share your opinion as well.
I am sure this will be a great discussion.
Anyway, I believe you find this article helpful.
Thank you for reading
Mike.
Interested in Trading?
Check Forex Signals as the biggest forex trading community teaching proved strategies from experienced mentors.
It is great for beginners and they also offer a Free 7-Day Trial!
I invested $20,000 in this CFX on a 6 month contract. When time to collect my 15% which would have been $18,000 I was told the IRS shut them down and I was told to open a Coin base wallet and my money would be returned without the interest of course. That was 11/17/2022. Still waiting!. I think the person who persuaded me into this scam is possible involved. He would make $750 dollars just for sponsoring me. Well the company is still running. What the hell is really going on. Please advise!
ponzi scheme, don’t fall for it. I’d be glad to share my trading experience and how I was able to retrieve my funds [email deleted]
thanks for your comment.
I have been using the platform for a year now and its going great.
Have been involved in MLMs before and this is the first one that has done what they promised.
I have not been an active recruiter but am starting to take this machine more seriously now.
Would love to prove the sceptics wrong.
[Link Deleted]
Thank you for your comment.
However, this is not a place to promote your business.
I have deleted the link, but if you really want to recruit people, I suggest go learn how to set up a website and how to drive free traffic.
Wishing you all the best
Cheers
Mike
I found that cashfx is a scam. Also invested on their platform ,after they kept asking me for kyc I got suspicious and did not invest more.
Good for you.
Thank you for your comment.
Stay out of scams
Mike
They are all scam please always be careful when choosing where to invest and trade, i was scammed over $75,500 after they convinced me to invest with them hoping to get my profit back. After depositing my first $75,000 waiting to receive my profit after 7 days I waited for over 3 weeks no profit was sent to me , I contacted their customer support team they requested I deposit another $500 before they can processed my withdrawal request. I deposited the $500 making it total $75,500 and I waited to receive my payment still no profit was sent, i contacted their customer support again this time none of my messages or calls were answered. At this point I became frustrated because I lost all the money in my savings ,in search for help on how I can get access to my fund I was directed to contact some agencies who will help me recover my money back, I never believe because I don’t want to loose more again but I was forced to contact Mr. Alexander of binary option/bitcoin/forex recovery expert. I contacted him with his team on email and i was directed after getting my mails, he and his team asked me to forward some details to prove am not an impostors, I verified my identity and he asked me to provide all the details concerning my trade, i did exactly all he asked me to do, to God be the glory within 4-5 days I was able to accessed my fund again, the total money lost was recovered successfully. I will advise all scammed victims like me to kindly contact Mr. Alexander with the email below for help, he will assist you with all information needed to get back your fund successfully, reach him via his email [Email – deleted] @gmail.com Good Luck as you contact him.
OK.
I was able to recover all my lost cryptocurrency in contrast to the popular belief that cryptocurrencies like Bitcoin, Ethereum, etc cannot be gotten back. A specialist – [deleted] G mail com – came to my rescue.
Seems like you want to spam the comment section.
please note, That is not allowed – therefore the email address has been deleted.
Oh well, 23 months and counting, no missed payments ever since I started. All I can say is the taste of the pudding is in the eating. Recruiting is optional and lastly they are still paying even though sometimes there technical glitches within the system which causes delays.
Thanks for your comment.
Mike
I have someone trying to get me to invest with Cash FX and I am skeptical, which is how I found your article. He said they don’t trade in the US, so I would have to use someone else’s address to even sign up. Do you know anything about that? This is just getting fishier and fishier as I go.
Hello and thanks for your comment.
I don’t recommend joining the Cash FX Group.
Not even using someone else’s address.
The bottom line is that this company is not registered to offer securities in any jurisdiction.
With that being said, that means just investment fraud.
Stay safe
Cheers
Mike
I think that the curtain is starting to fall
Could be.
Thanks for your comment
Mike
Hi Mike
thanks for the effort in research and putting your article out there for all to see.
Let me say that i’ve looked at approximately 30 such schemes over the past 3 months and considerable amount of research into the people behind these operations .
I have labelled 24 of these as definitely scams 5 as probably scams and only 1 that i considered as most likely genuine and worth investing in.
now 1 of the 5 is cash fx and so i invested a minimal amount in these 5 and a serious amount in the 1 I considered most likely to succeed.
I’ve not had any issues with these at this early point in time and i will not be recruiting anyone my risk alone is how i prefer it..
I can report back in a few months time and see what has occurred in this space.
oh and of course i only put in what i can afford to lose without impacting on my lifestyle.
keep on with the work you are doing it will certainly save some folk their money at some point on the road.
umbrellaharry
thanks a lot for your valuable comment.
Please get back to me in a few weeks or months.
I really appreciate it
Cheers
Mike
Hi!
Could you disclose the only legitimate project from your list?
Thank!
Hi Dean
sorry ive not responded sooner simply an oversight.At this point cash fx is still trading along but i have serious concerns.
predominately the customer service/ support is non existent. i cannot log on in most attempts and spent time trying to get a response from them.
Are the a scam? well my opinion is most likely , withdrawal fees are high support low .
i would not recommend signing up regards
Hi kapiris
yes the one i have strong confidence in is Yield nodes
these guys provide an open and honest service .
I have been with them for 9months and as promised they provide a fantastic service and pay a monthly interest or return on time every time
the returns are amazing and my ave return is 11.7% p/month to date.
this is a legit company audit briefings have been conducted by 3 you tubers and no absolute guarantees are promised but the team is small but fantastic and well worth serious consideration.
my initial investment has now doubled.
one can withdraw profits each month or allow compounding.
This has been and continues to be the best service ive ever ben involved with.
As always one needs to be cautious but the management themselves openly advise caution
Remains to be seen how the current fall in bitcoin and other cryptos impacts on returns.
cheers
Hi UmrellaHarry,
It’s been a few months now, what are you thoughts?
Also, I’m interesting in what you found as the “number 1” company to invest in?
Cheers
Dale
So glad to be part of this company.
How credible is CashFx?
1. He has a licensed broker partner named EverFX (Cyprus)(Licensed by: CYSEC, CIMA & FSA)
2. Software automation for trading is powered by TCI (US) The Conversion Pros Inc. (registered company and well known in US for crypto trading).
3. The Company is form by a group of PMP expert financial network traders. It has free education for forex study to its members. It protects their investors by notifying inside their CashFX system what websites are scammers, never been a history that the company did not pay us. Interface is users friendly and live trading u can see in your system. Easy pay, easy upgrade and easy cash out of earnings. Financial earnings and unilevel trucking system can be monitored.
Hey Stan
Glad that Cash FC Group has worked out for you.
Are you sure you are not part of a pyramid scheme?
How long have you been a member?
But anyway, thanks a lot for your comment
Cheers,
Mike
Cash fx group sounds really good and I was researching them as how I found your article. After reading this however I may take a step back from investing in this company. I had heard good things from them and a freind of mine is also a member. He stated that it was an authorized company,so to find out it isnt was a bit surprising.
For time being, members of the Cash FX Group sill make money – since there are still a lot of new members rolling in.
The money that is paid out, comes from these new members.
This is a typical sign of a Ponzi scheme.
Yes, it can go on like these for months maybe for a year but eventually, it will collapse.
That is why I don’t recommend “investing” your money into this Scam.
Let me know if you have more questions
Cheers,
Mike
Thank you so much for this review. I’ve been trying to find reliable information on CFX for a while now, I’ve been skeptical about their services because I’ve run into several programs in the past that I was not a fan of. Some of them focused very much on their MLM system. Others had different issues. I can certainly say that no program is perfect but I was still skeptical. This review has finally offered some clarity to me on CFX and I appreciate the information so very much, the fact that this has a possibility of being a pyramid scheme speaks a lot of MLM to me and I don’t like it. I appreciate this so much and the effort you put into writing this. Best regards
I am glad you find the article useful. I believe it is important to show what is the product really about.
Unfortunately, there are many fake reviews that glorify the Cash FX Group, just in order to recruit new members.
thanks a lot for your comment
Mike
Understanding how cryptocurrencies work is not so easy for everyone, which is why not too many people deal with it and it is easy for those who start a business to make a mistake with some programs that are scam and are disappointed at the very beginning. For CashFix, I’ve heard more and more people say it’s a pyramid scheme but I personally haven’t tried it. Just wanted to find out what is this program about.
That is right.
It actually a good sign that even though Cash FX Group is a new system, many people do realize that this is most likely a scam (and pyramid scheme).
Thank you for your comment.
This is well put together detailed review, thanks very much Mike.
The offer came to me to join CashFx in December and after doing some due diligence I couldn’t join.
The FCA have warned against this company as have another 5 government regulators, the magic links with European broker EverFX disappeared overnight from the website without explanation, Panama based shell company with no trace of the ownership or location, uses bitcoin to take disposits, only asks me for my name and email to invest with them, and strangely what convinced me most of all was the ‘traders’ on the website look like complete rouges and I was able to find out there full names and a little about them needless to say id expect to see them selling sunglasses on the beach not in a trading room.
Glad you like it
Thanks a lot for your comment.
I am sure readers appreciate your feedback.
Wishing you all the best
Mike
First of all, this is a pyramid scheme, where most of the money is from recruiting people. They also use bit coin, which is kind of fishy to begin with. You might as well be using fake money. You are better off sticking with more tried and true business, like Wealthy Affiliate. Here your investment will get a return, and you don’t have to put tons of money into. Cash Forex Group would definitely not be a company that would pay well on your investment.
Hello and thanks a lot for your comment.
We are on the same page here. You are exactly right about the Cash FX Group.
It is a pyramid scheme and it is strongly recommended to avoid this scheme.
Cheers
Mike