Dealing with cryptocurrency may seem like a great opportunity, but as you probably know, there are numerous scams in the space that fail to live up to their promises.
So, is Cash FX Group one of them?
Let’s delve deeper.
In this article, you will discover what Cash Forex Group is all about, who its founder is, the required investment, and most importantly, whether your investment is secure and how much you can potentially earn.
Jump to:
- Cash FX Group Review – Summary
- What is Cash FX Group?
- Cash FX Group Additional Info
- Who is the Founder of Cash FX Group?
- Who Is Cash FX Group For?
- How to Join the Cash FX Group?
- How Much Does Cash FX Group Cost?
- Is Cash FX Group a Scam
- Cash FX Group Pros & Cons
- Conclusion
Disclaimer
This review is based on publicly available research and information online. Any recommendations and conclusions are opinions and may not apply to all individuals 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 (potentially a pyramid scheme)
Cash FX Group Review – Summary
Cash FX Group is an investment company specializing in Bitcoin trading, founded in 2019, with its headquarters in Panama.
The company claims that investors can earn up to a 15% return on their investment weekly, promising a path to financial freedom.
Does this sound too good to be true?
The trading company engages in Forex trading using Bitcoin, which is inherently risky. When combined, the risks become even more pronounced.
At present, some individuals are making profits, but it’s essential to note that these gains likely come from newcomers who have invested in the system. We’ll assess Cash FX Group’s performance, but personally, I wouldn’t invest my money in this company.
For those interested in company, I can introduce you to a legitimate firm that offers comprehensive educational materials, trading signals, and access to mentors, making it suitable for beginners.
This company is known as Forex Signals, and you can find more information about them via the link below.
They offer a free 7-day trial.
What is Cash FX Group?
Cash FX Group is an investment company that invites you to invest in the Crypto and Forex trading business, promising substantial returns in a relatively short period.
Imagine the potential of earning lots of money, possibly even a remarkable 15% weekly on your investments.
It may sound like a dream come true, with four-figure sums piling up in your account.
Sounds amazing, right?
But, as the saying goes, if it sounds too good to be true, it probably is.
Let’s take a closer look at Cash FX Group.
This company operates on a Multi-Level Marketing (MLM) model, which places significant emphasis on recruiting.
You might have come across reviews or YouTube videos where people promote this company, encouraging you to join referral programs through their referral links.
Before we proceed, let’s examine the six signs of a pyramid scheme, although I won’t claim that Cash FX Group is one. It’s essential to be aware of these typical signs.
Cash FX Group Structure
To join Cash FX Group, you can purchase a Trading Pack and Academy Pack, allowing you to:
- Earn Trade Rewards
- Access the Academy
- Participate in the Affiliate Program
There are various packs available at different price points, which we’ll explore shortly. When you invest, your money is converted into Bitcoin and enters the Forex market.
Regarding whether your funds actually reach the financial market, this remains an open question, with rumors suggesting that earnings are primarily derived from newcomers’ investments.
More About Cash FX Group
Cash FX Group was founded in 2019 and boasts over 60,000 members from more than 180 countries. The majority of website visitors hail from:
- USA: 22%
- UK: 15%
- Canada: Almost 10%
- South Africa: 7.8%
- Trinidad and Tobago: Almost 7%
The increasing number of visitors to their website indicates growing interest in their business. The company’s address is listed as follows: RBS Tower, Ave Balboa, Ramon H. Jurado St., 9th floor, Punta Paitilla.
Forming your own opinion about the company’s Panama-based headquarters is encouraged.
Cash FX Group’s Website Traffic Decline
If you’ve been tracking Cash FX Group’s online presence, you might find this noteworthy. According to SEMrush, their website’s monthly visitors have experienced a significant drop.
It went from around 100,000 visitors a month to less than 50,000.
This decline in organic traffic can be indicative of changing perceptions or interest in the company. It’s essential to keep an eye on such trends when evaluating the credibility and sustainability of any online venture.
When Will Cash FX Collapse?
Cash FX Group’s future is uncertain as a police investigation, named ‘Operation Hent,’ unfolds.
It’s a matter of when, not if, Cash FX will face consequences.
Victims have reported their experiences, prompting the Serious Crime Directorate (SCD) to intervene with a questionnaire.
Reporting these activities is a moral obligation, and the investigation signals a potential end for Cash FX.
Who is the Founder of Cash FX Group?
Huascar Lopez, who also serves as CEO, is the founder of Cash FX Group.
He hails from the Dominican Republic and gained early exposure to network marketing in 2009.
Following this, he ventured into tour operation as his first business.
He began working with cryptocurrencies in 2014, reportedly trading over $100 million in cryptocurrencies by 2016 before establishing Cash FX Group.
One note: Initially, there was no information about the founder on their website, and this addition may raise questions.
Who Is Cash FX Group For?
While anyone can join Cash FX Group, the question remains: Is it a wise investment? Can you genuinely achieve a 15% weekly profit, with returns paid in Bitcoin?
The allure of “get-rich-quick” schemes can be tempting, but caution is paramount. Many new companies in the Forex and Crypto trading niche seek to capitalize on beginners’ eagerness.
Cash FX Group, being a relatively new company (registered in 2019), has already faced issues and complaints from individuals who attempted to make money through it. On the other hand, you will encounter numerous overly positive reviews claiming it to be a perfect company.
However, skepticism is warranted. Cash FX Group has faced accusations of being a pyramid scheme.
In 2019, the UK Financial Conduct Authority (FCA) issued a warning, stating that Cash FX Group “has been providing financial services or products in the UK without our authorization.”
History is filled with cases of pyramid schemes and Ponzi schemes that seemed profitable for a while but eventually crumbled.
Cash FX Group’s limited track record, having been around for just over a year as of this writing, raises concerns about its sustainability.
Better Solution?
Here is the #1 Rule:
Never invest money you can’t afford to lose.
If you do have funds to spare, conduct thorough due diligence and invest in authorized companies.
For those serious about trading, here are authorized companies worth exploring (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?
To join Cash FX Group, you need a sponsor, which may raise concerns.
Why would you require a sponsor to sign up?
As shown above, you can’t simply log in without a sponsor, which can be seen as a red flag. MLM models, heavily reliant on recruitment, may not be everyone’s cup of tea.
For those who share my reservations about MLMs, you’ve likely reached the end of this article, and I wish you a wonderful day.
However, if you’re curious to learn more, keep reading.
As previously mentioned, Cash FX Group operates as an MLM company, requiring you to have a sponsor (or upline) to join. Using your sponsor’s link, you can register with the company. Your upline receives a commission from your initial investment.
I believe there are better opportunities than MLM companies;
E.g., compare MLM with Affiliate Marketing.
How Much Does Cash FX Group Cost?
Assuming you have a sponsor, you can sign up for Cash FX Group.
After confirming your email, you get access to the portal, where you can select a package.
For instance, let’s take a closer look at the costs associated with the Academy + Trading Pack, one of the most popular options according to their website. This package encompasses various tiers:
- Elemental Package: Ranging from $300 to $3,000
- Advanced Package: Priced between $5,000 to $20,000
- Supreme Packages: Costing from $30,000 to $100,000
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).
It’s essential to note that if you accidentally select the wrong package, you’ll need to contact Admin, but this may incur a 5% Admin Fee.
It sounds like a lot to invest, right?
No Evidence of Investor Payments
These investment amounts may seem substantial, and it’s crucial to consider that there is no concrete evidence that investors’ funds are being utilized in the Forex market.
Additionally, the company cannot offer securities in any jurisdiction.
Alternative Income Opportunities
I could introduce you to a legitimate business opportunity, but it doesn’t involve trading or MLM. This method does require some effort and time.
If you’re interested in learning more, please let me know in the comments section below.
Is Cash FX Group a Scam?
As of now, there is no definitive proof that Cash FX Group is a scam.
Nevertheless, caution is advised when dealing with this company due to several concerning signs that it might resemble a pyramid scheme.
Are people making money with Cash FX Group?
Yes, there are numerous individuals claiming to withdraw profits regularly.
However, these individuals may have a vested interest in recruiting you, as they earn commissions from your investments.
Could Cash FX Group be a pyramid scheme where people still make money?
It’s a possibility.
But how long can this last?
Let’s draw a parallel with a basic example, the Shell Game:
Is Cash FX Group still in its early stages where clients are making some money?
What I like about Cash FX Group
- At this stage, some individuals are making money, likely through recruiting new members.
What I don’t like about Cash FX Group
- Legal issues
- The potential for being a pyramid scheme, considering its age and existing legal problems
- Reported withdrawal delays
- Not registered to offer securities
- Unrealistic claims about return on investment
- Numerous complaints about customer support
- Concerns surrounding its trading pool (funds flow downward to pay downlines and upwards to compensate upline members.)
Conclusion
If you’re interested in learning how to trade, it’s advisable to engage with financial firms that are authorized and regulated.
The list provided earlier includes companies recognized as authorized forex dealers.
These reputable firms don’t promise unrealistic high returns and always acknowledge the inherent risks involved.
So, would you take a chance and join Cash FX Group? Why or why not?
Please share your thoughts in the comments section below.
If you’re already a part of Cash FX Group, we welcome your perspective, as this can contribute to a valuable discussion.
In any case, we hope you found this article helpful.
Thank you for reading, Mike.
Interested in Trading?
Check Forex Signals as the biggest forex trading community teaching proven strategies from experienced mentors.
It is great for beginners and they also offer a Free 7-Day Trial!
They promised a guaranteed return on my investment but after investing my life savings, I got nothing in return. They seemed legitimate at first, but it was all a scam. I urge people to stay away from fake platforms and not risk their hard-earned money like I did. Report scam to cybertecx net for payout solution
Thanks for the comment
hopefully they will solve your problem.
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
Dieser Ansicht bin ich auch…. seit 01.2022 werden die Auszahlungen nicht abgearbeitet und nun soll eine sogenannte Debit-Karte nach KYC bei BullBearPay die Auszahlungen ermöglichen!!! Wer die Debit-Karte anbietet ist nicht bekannt. Die Karte war angekündigt per Ende 2022 und jetzt im April 2023 läufen erste Testauszahlungen. Seit Dezember 2022 sind die Trading-Ergebnis auf ein Minimum zusammengeschrumpft – nicht wie in den Packages vertraglich progapiert.
Hände weg von CFX!
Hallo.
Thanks a lot for your comment.
Appreciate it.
Danke sehr
Gruss
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