This Cash FX Group (CFxG) review proves that this investment scheme is a pure scam.
What Cash FX Group is about
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
When they promise you 15%+ weekly, it means 60%+ monthly, which is totally ridiculous in the real world. It means more than 28100% per year (compounded monthly), so you would need only $3,559 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.
But there is more to go through in this review.
The Cash Forex Group claims to have partners that are 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.
The FAC does not even exist, while the others (DFSA, FSCA and FSA) have not issued any license whatsoever to Cash Forex Group. And it is CashFX Group that needs to be regulated because it is offering investment services (as confirmed by the FCA, see below).
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.
Later Cash Forex Group made it also to the blacklists of regulators in Canada, Norway, Panama, New Zealand, Philippines, South Africa, Ireland and the Bahamas, the BCSC, FCAA, MSC, Finanstilsynet, SCB, AMF, FMA, SEC, FSCA, CBI and SMV issued warnings against this program.
Notice that even the regulator in Panama, where CashFX Group claims to be based, published a warning against the company!
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!
If you want to trade financial markets, start on a free demo account with a regulated broker.
You have to practice and gain an understanding of the risks of trading with real money before you can actually invest real money.