Is Cash FX a Scam?

Are you asking yourself, is Cash FX a scam? If you are reading this, then you are probably doing your research to find out if the company is a legitimate entity where you can make money. We have done a good amount of research into the company and I will be sharing what I have found out about Cash FX, and whether it is a worthy investment or something that you must stay away from.

 

Cash FX Review Summary

Cash FX Group is essentially a forex focused network marketing company that uses forex training as it main product. But this is not technical forex trading that is focused on detailed knowledge of forex but rather forex hype.

Think of it as motivational speaking a motivational speaking equivalent of forex. In their daily communications, they do not talk about market specific or anything substantive, but instead focus on feel-good messaging to get you in a hype and willing to fork over money.

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What Is Cash FX Group

Cash FX Group is a financial trading education and training company that is based in Panama. The group was established in early 2019, with their website domain registered on 4 March 2019.

According to the about page on their official website:

We operate through corporate accounts that allow us to manage the capital of different parts of the world with absolute security and transparency, giving each user the opportunity to access trading programs, supported by cutting-edge technologies without prior knowledge or experience. We use software called Expert Advisors (EAs), specially designed for Cash Forex Group, with algorithms that allow you to analyze different types of scenarios in the currency markets, obtaining successful results.

Upon closer inspection, it is evident that Cash FX is basically multi level marketing company that has forex education plans as the product that they use to drive the MLM aspect. They have as much as 17 different products in a somewhat complex structure, each requiring greater investments and yielding higher returns from referrals.

While initially starting out pushing the referral system, they have changed their messaging over time to make it seem like a more education focused organization.


What Is On Offer?

To join Cash FX is a relatively simple process of signing up on their website and filling in the registration form.

Once you are a member, you have to invest in one of the educational packages. The Cash FX product range consists of 17 plans each requiring an increased level of investment. The entry level packages is the Elemental Academy Pack 90, which requires an investment of $300. The naming convention can be a bit confusing but they plans are structured across 3 classes as follows.

  • Elemental Academy Pack 90 – $300 Total Investment
  • Elemental Academy Pack 150 – $500 Total Investment
  • Elemental Academy Pack 300 – $1000 Total Investment
  • Elemental Academy Pack 600 – $2000 Total Investment
  • Elemental Academy Pack 900 – $3000 Total Investment

 

  • Advanced Academy Pack 1500 – $5000 Total Investment
  • Advanced Academy Pack 2100 – $7000 Total Investment
  • Advanced Academy Pack 3000 – $10,000 Total Investment
  • Advanced Academy Pack 4500 – $15,000 Total Investment
  • Advanced Academy Pack 6000 – $20,000 Total Investment

 

  • Supreme Academy Pack 9000 – $30,000 Total Investment
  • Supreme Academy Pack 12000 – $40,000 Total Investment
  • Supreme Academy Pack 15000 – $50,000 Total Investment
  • Supreme Academy Pack 21000 – $70,000 Total Investment
  • Supreme Academy Pack 30000 – $100,000 Total Investment

How Cash FX Group Works

You will see from the picture that there are figures that include PVCash FX Group Plans

PV stands for Personal Volume, which is points that are earned from investments that you make into the platform yourself.

GV stands for Group Volume, which is are points earned from investments made by you and everyone that falls under your recruitment line.

These points are used to maintain internal rankings within the system.
There is a ranking system for affiliates depending on how much your group brings into the system.


How Do You Make Money With Cash FX Group?

The primary way of making money is through the affiliate/referral program, although they don’t call it that. They refer to the recruitment part as the Leadership program. If you look at each of the different price, there is a value denoted PV attached to each plan.

Using the entry level plan as an example, the cost for someone to sign up is $300, and it also says Leadership Program $150PV. This means that if one your recruits signs up for this plan, you earn $150

The returns that you make from Cash FX are capped, however. The caps in place are 200% for the trading side of the business, and 400% for the MLM side. What this means is that if you invested $300 and your recruits invest, you can only earn up to 400% of that, which is $1200.

So if someone you recruited invested in the $10,000 package, you can only earn $1200 instead of $5000. For you to qualify for the larger amount, you would have to have invested more of your own money to make up for that cap.

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Red Flags


Not accepting members in the US –
Cash FX currently accepts only members outside of the US. The reason for this is because in the US they have regulating bodies which crack down heavily on suspicious trading platforms and businesses that use the pyramid scheme model.

Abnormally High Returns – The returns that Cash FX promises are highly unrealistic. They entice investors with returns of more than 15% a month, which would be considered aggressive even if that was what they promised for a yearly investment rate. When something seems to good to be true, it usually is, so tread with caution after seeing that return

Not Regulated – The platform is not regulated, meaning that they do not conform to any rules that ensure best practices and that there is nobody ensuring that the investor’s money is safe. In fact, the FCA, the financial regulating body of the UK has put out a formal notice warning investors that there is a high risk with Cash FX and they are essentially operating illegally in the UK. Cash FX Group FCA Warning
Capped Returns
– The capping of returns make absolutely no sense. The whole allure of MLMs and ponzi schemes is that you can earn unlimited amounts of money so long as you recruit more people onboard and they recruit more people. This means that unlike other MLM, where you keep getting money, once you reach the cap (which is a very small one at that) you no longer earn

The Upside

The production of Cash FX Group’s ecosystem is very high. They have a well-designed website as well as a very active social media portfolio. The also put a lot of resources into well produced content like marketing videos which they publish on their various online platforms. Everything looks highly professional and if you are promoting this to your friends and family, many will find the packaging of it all very believable.


Is Cash FX A Scam?

Cash FX looks very much like a scam from where I am standing. They have the usual hallmarks of a ponzi scheme – unrealistically high returns, a recruitment-heavy business model, and the appeared very recently.

It is essentially a forex MLM (multilevel marketing). It doesn’t even do a good job of being a MLM, considering that the returns are capped at 400%. The appeal of MLM is the possibly unlimited income. After making 400% your pan expires and you have to invest more. And where does the money you make after 400% go? Straight into the pockets of the owners of Cash FX. So it fails even as a basic MLM which is already a low bar to set.

There is a notice on the FCA website stating that the Cash FX Group is not regulated by them. What does that mean for you? Regulating bodies like the FCA are there to protect investors. They are there to provide credibility to financial institutions to help you determine if they are legit.

If they are not regulated, then no rules apply. This means that if  you Cash FX decides to disappear with your money, there is nothing you can do about it. You have no legal recourse since there is nobody to report your problem to.

Anyway you look at it, this business is not worth your time or money investment as there are many better way to make money, including those that do the same thing as Cash FX.


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What have your experiences been with Cash FX Group? If you have your own story to share, good or bad, or have any questions about the program, let me know the comments below.

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