Cash Forex Group is a Big SCAM
The Cash Forex Group is run by a company named CFxG which allegedly was founded by a team of experts in all sorts of areas, mainly education in the financial trading field and network marketing.
These experts and their automated trading system will supposedly help you to make lots of money. In trading only you can allegedly make 15% weekly on your investments. Then there are referral programs and multi-level structures that can boost your income even more. Is that true?
Cash Forex Group scam
Let’s start this Cash Forex Group review by stating the obvious, this scheme is a total scam, you just have to look at the numbers.
When they promise you 15%+ weekly, it means 60%+ monthly, which is totally ridiculous in the real world. It means more than 5600% per year, so you would need only $18,000 dollars to become a millionaire within year. And this is plain impossible.
No legitimate business can make you a steady 15% weekly, no financial markets are that predictable and that easy to trade. It might seem simple to you, but it really is this straightforward, a program promising 15% weekly must be a scam, there is no other way, the Cash FX Group is a scam.
What Cash FX Group is about
The Cash Forex Group claims to be regulated by the following institutions: FAC – Financial Conduct Authority of London, DFSA – Financial Services Authority in Dubai, FSCA – Financial Sector Conduct Authority of South Africa and FSA – the Financial Services Authority of Seychelles.
But guess what, the FAC does not even exist, while the others (DFSA, FSCA and FSA) have not issued any license whatsoever to Cash Forex Group. So not only Cash FX Group is not regulated at all, it also is lying big time about its regulatory status.
The reality is that it has no license whatsoever, so it cannot offer investment services legally in most countries.
This is also why they want you to deposit cryptocurrencies, they want to stay as anonymous as possible, so that they can run away with your money.
Not long after we published our analysis, the Financial Conduct Authority (financial regulator in Great Britain) came up with its own warning.
The regulator said that CashFX is providing investment services without the necessary authorization and advised the public to stay away from it. This is a very serious argument.
It would be very unwise to deposit money with an unregulated and basically anonymous entity, because it would not be protected in any way. No matter where the money ends up, this program is promising you impossible returns on investments, which in itself confirms that something is wrong.
How it works
Let’s finish this Cash Forex Group review by explaining the basic principle of this investment program. It is a Ponzi scheme that does no real economic activity. It just collects money from people and might pay out some profits, but the latest clients’ deposits will be used for that.
This will have an inevitable outcome, the system will sooner or later crumble. It is just a matter of time when there will be not enough deposits to cover withdrawals and the inevitable end will follow.
Cash FX Group review conclusion
The Cash Forex Group is a brutal scam that is going to collapse. It is not regulated, stay away from it!