Welcome to my review of Huascar Lopez and Edwin Abad’s Cash FX Group. There’s quite a buzz going around on how this trading group can make your money grow steadily.
It hypes you up by telling you all you need to do is sit back and wait for your profits to show up in your account.
But it has all the typical scam warning signs.
This got me suspicious, and I think that goes for you too. So in this review, I’m going to talk about what I found out about this Forex group after I thoroughly researched it.
If you’re excited to taste and see how you can make money online with Cash FX Group, read this review first to know if it’s legit or just another fancy-façade of a scam.
I am not a member of Cash FX Group.
I’m not trying to recruit you, I’m just here giving the facts and my opinion about this money-making opportunity. I don’t want to waste my time on scams and I don’t want you to either.
So let's get started…
Cash FX Group Review At A Glance
About: Huascar Lopez and Edwin Abad's forex trading platform.
Price: Initial trading packs cost between $300 and $100,000.
Pros: Complete click-by-click training that will save you a ton of time, money and frustration. Impressive student results.
Cons: Not regulated by the FCA, unproven income claims, forced matrix scheme.
Verdict: Cash FX Group is a scam. If it had been legit, it will be easy for them to comply with financial regulatory boards. Avoid at all costs.
OVERALL RATING
The way the website looks suggests that there’s a very professional team working on the company. But I recommend you read on to get a bigger and clearer picture of what you might be getting yourself into.
Let’s take a look at how the website tries to hype potential members. On the right side of the marketing video is an elaborate picture of how thriving the Forex market is. Of course, they’re mentioning that to tell you that it’s a booming industry.
Then they go on to mention that their goal is financial freedom with the help of a sophisticated mix of technical expertise and a dedicated corporate team.
The sales page uses emotional manipulation and testimonials which are not credible at all.
The Names Behind The Company
Huascar Lopez
Is a guy from the Dominican Republic with a marketing degree who has a knack for entrepreneurship. His bio claims that since focusing on trading in 2016, he has traded more than one hundred million.
Edwin Abad
Also from the Dominican Republic, Edwin developed and operated traditional businesses but later on shifted to Forex.
When the website was initially published, there was no mention of any names, no founders, no admins, and no traders- nothing.
I think this is an important part in establishing their credibility because with names and faces, people can trust them more, they’re no longer strangers and you’re not sending your money to people you do not know.
Some past negative reviews bashed them for not revealing who their traders are. If you check the website now, they’ve also dropped the names and faces of their traders.
Another plus point for me is the disclosure of their headquarters address and General Income Office Registration.
Overall, the About Us page lifts Cash FX Group’s credibility.
How Cash FX Works
First, you make an account and choose from the wide range of Trading Packs which are divided into 3 series:
- The Elemental Series
- The Advanced Series
- The Supreme Series.
The trading pack costs from $300 to as much as $100,000. If you do spend a $100,000 in this business, you better be sure its legit!
This is where a 30/70 split happens. 30% of what you paid, whatever trading pack you choose, goes to the academy pack. The remaining 70% serves as your investment.
Each trading pack has corresponding point values that determine your position in the matrix.
Yes, you got that right, there is a multilevel structure that lets you earn from others. A bit of a red flag there, but they’re claiming that the FTC can’t run after them because they have the training modules as a product to offer.
Cash FX Group claims to give a 200% or 400% ROI on the initial investment. After that cap is reached, you can choose to reinvest what you’ve earned so that you can earn more.
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Cash FX Group Reward Plans
There are two different ways: Bear Capital and Bull Capital.
The Bear Capital is where you earn from your investment and the Bull Capital is where you earn from recruiting others. The Bull Capital includes 4 types of bonuses: Fast Start Bonus, Uni-level Bonus, Matching Matrix Bonus, and Leadership rank Bonus.
Cash FX Group Dirty Secrets Exposed!
1. Not Regulated By The Financial Conduct Authority
The FCA is a financial regulator in Great Britain. Cash FX trading is global yet they were not able to comply with the financial regulations in the country where Cash FX operates in.
This means Cash FX is an anonymous entity and that is has no registration to offer securities.
This is an important factor because without that registration there is no way to validate external revenues that are said to pay the investor’s returns.
This is quite contrary to their claim that “broker partners work with regulation authorities”. If that is so, why did they not take a step further and disclose proofs of registrations and licenses?
2. Claims Without Essential Proof
Cash FX Group claims that ROI is generated from trading and investments. This is what they use to pay investing members. But, there is no proof that verifies this claim.
In my opinion, the money that goes into the company doesn’t really go to a trading pool. I think the investment allocation goes to a cash pool to pay downlines and the academy pack allocation is used to pay those up the line.
3. Forced Matrix Scheme
If you’re just interested in the trading part, you don’t have much choice. It is mandatory that you have a slot in the matrix scheme. This means that the more you recruit, the more you go up.
Plus matrix schemes are quite shady because it is linked to Ponzi and pyramid schemes.
4. Unnecessary Cryptocurrency
Since its beginning, Cash FX has been prided by its members to send them their profits on time. Lately though, delays have occurred.
They blame the problem on the volatility of bitcoin vs USD. If that is so, why don’t they just pay in dollar?
Really, profits on the Forex market are in dollars, why mess it around with cryptocurrency?
If they’re really playing dollars on the market, putting cryptocurrency in the equation only adds another risk factor for the investors and the company.
Is Cash FX Group A Scam?
Yes it is. Why am I convinced with that? Because if it’s legit, it would’ve complied with the necessary financial regulations.
If it’s legit, we would’ve seen proof that external ROI is taking place.
Sure it makes money, you receive your weekly profits without fail but it only takes time when they are no longer able to sustain payouts and things start to crumble.
Closing Thoughts
Sign-up, recruit others and get a little trickle back. Then the person above you (your sponsor) will push you to make more recruits.
In my honest opinion, they’re just trying to squeeze more money out of you by pressuring you to pull in more people to join the bottom of the matrix. When no new money comes in, the bottom starts to crumble, then everything on top collapses.
Simple Math: when withdrawals goes over investment say goodbye to your weekly pay.
If you’ve checked out negative reviews on Cash FX scroll down to the comments section and you’ll see tons of members defending the company by saying that they receive their profits without fail every week since they started.
In reality though, Cash FX may be able to payout for a little while longer, but once the cat is out of the bag, find the nearest exit. Sponsors will start to tiptoe their way out while you are they still trying to convince yourself things will sort out and be back to the way it used to.
Try checking positive reviews and they'll say there is no risk involved. Even if this legit, Forex trading is never guaranteed.
If you still want to try this, no problem if you have some extra cash for play. But it’s not worth risking your bills budget for the month. Don’t take clothes off your kids back for this, don’t risk the roof over your head. It will not be worth it and as you know, regrets always come not in the beginning but on the end.
Want my honest advice?
There's are only a few MLMs that are legit and sometimes it's tough to spot these. Although Forex trading has high ROI potential, it also involves a lot of risks. If you want to build a real income online check out this free beginners training course to get started.
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Thanks Simon for sharing your insight into this Group. I had so many burning questions that went unanswered until now.
I won’t be taking up your offer of training because I honestly don’t have the time to spare but yes keep on with your insight. It’s helpful to people like me. Clueless. Cheers.
Yet another person out there trashing a company because they have their own agenda, which is to push their product or service onto you. This is an old tactic in itself. Generate fear about someone or something else in order to funnel you into their product/service. And their product or service may or may not be a good one. I don’t question that. I’m question the motives and tactics being used which are underhand. I would want to get involved with someone who resorts to this.
You will not find Cash FX doing the same. Why? Because they have no need to. They offer such a great service for members, that those who truly get what this is about are doing very well.
Those that sit on the side lines, even members who are still doubtful or sceptical if it can really work, will get back exactly what they put in… where your focus goes, energy flows is an old maxim.
One question that no one appears to be sure about is, is cfx speculating bitcoin vs dollar and is all the reserve cash in bitcoin? That would d make it harder to pay out in dollars if the price of bitcoin has gone down because their reservoir if bit coin has gone down in dollar value. I doubt if money US kept in individual client accounts.
No they are not speculating bitcoin (BTC). The reserve is USDT (a stable crypto designed to be tethered 1:1 to the dollar). USDT is converted to BTC for payments when weekly payments are processed.
There’s a lot of complexity as you would appreciate in making payments to almost 500,000 members to date globally.
Payments in BTC are easier because the members can do what they like with it. Hold it or convert to their own currency.
Can you imagine if they had to make payments in over 100+ currencies globally? An administrative and logistical nightmare.
After long study and analysis, my conclusion about CasFX is that it is a very good option to earn extra passively. The company is apparently unregulated and it is not clear how it will be maintained in the long term. But as long as it works and you have a few dollars to invest, it pays off. What I don’t recommend is investing large sums of money and trying to make a living from it. Although you can live on this, the risk of losing everything is great. I recommend trying it with a small investment of 300 to 1000 dollars, wait until this money is recovered and then see how far you can grow.
cash fx doze what it says on the tin..
I have no problem with cfx its working well for me,
paid every Saturday,my advice to everyone is get started ,and don’t listen,
to all this crap about scams…I did and I am so glad I did..
When you say paid, what do you mean….on paper?
Or real tangible $$ into your bank account.
There’s a huge difference.
I lost about $75,000.00 to crypto investment scam just recently. The company posed as an investment company that could deliver a certain percentage in returns if you deposit your Bitcoin with them. At first, it seemed real, it worked twice. I didn’t realize they set up a bot(robot) that will completely shutdown your account after you have decided to invest high. I suddenly couldn’t access my profile, I complained to the admin, he gave a excuses that they had a downtime and needed to upgrade their website, this took over 2 months. Within that period, I begin to suspect i have been scammed. I contacted my bank to see if they could do anything about this situation, they couldn’t. Local police say it’s impossible to get my money back.
It’s a total scam!
Don’t believe one word that comes out of CashFx.
Yes they have paid so far, that is the essence of a Ponzi scheme.
Madoff did it for 20yrs!!
All explained here…
https://youtu.be/_hQNfV3Blos
That’s a great video! Thanks for sharing!
I find it interesting that you say CashFx is a Scam then have a link recommending other ‘so called legitimate opportunities. Does this mean you get paid per click or paid for hits to your Page? Hmm interesting!
Agreed
I like your website as you provide tons of value but you are totally wrong in your assessment of CashFX and you should not use the word scam unless you can validate that it is.
This is the part that everyone that does not understand the company fails on.
There are 2 parts to the company and the referral plan is optional like in most network marketing companies.
CashFX deal with crypto which is not a regulated market as well all know and provide the education part but their broker partners are of course regulated.
It easy for people to tear down something that is actually real and having a positive effect on the lives of thousands of people around the world without spending the extra time doing proper due diligence.
I however done my due by getting on a flight and spent several days with the traders, owners and their team and went to their office and can validate everything they are doing on their site is for real.
I hope this helps give a balance to your assassination of CashFX.
Nuthugger
Hi Leroy
Thanks for posting as people who follow through their due diligence are the wise ones. After losing money from my Super fund(Australia) during Covid and being offered less than 1% pa from Commbank, it is truly difficult (haha) to determine where the Scam artists lay?
Legend!!!
They wont get back to me. Tried numerous times. No phone number either.
Jurys out on this 1, i have a very small investment and my thoughts are very similar to your claims.
Copy tradeing will reveal whether they are reinvesting members money or paying for the lifestyle of the ones who got in first, who post endless video’s on how much there makeing.
Like your blog and others on Cfx you bombard us with your own agenda so makes your report as credible as others …
To me its a laugh and some of the info being spouted is hillarious…
Time will tell…..
So your making money and they are paying you out and your still thinking is a scam… OK how’s your relationships? Haha mirroring this?
The CashFX can be a legitimate business. They are listed as training company, hence their ‘Academy status’, where they claim you can get a Panamian accreditation in trading. They sell an actual product, at 30% of an initial payment (investment). But indeed, it is used to pay the upline for introduction as well as every time someone upgrades to the higher level as it happens in any pyramid type thing. This is why they get away and can last longer then other pyramid schemes.
Where the 70% goes is not clear. On their accounts, is looks like it is invested and the profits are added but as you have mentioned, there is no evidence of them having any trading account(s) in with brokers. Their so called main partner, the EverFX broker, denies any relationship with CashFX as per The This Is Money magazine, published on 12/12/2020 – https://www.thisismoney.co.uk/money/experts/article-9046201/Is-CashFX-real-trading-outfit-just-Panama-pyramid.html
It is fairly easy to make up fake trading in members accounts, no one bothers to check this out for any accuracy and real trading because ‘money are coming all the time’.
Members are so convinced and believe wholeheartedly, that even if no new members will join, money will still grow and flow. No questions asked.
It is psychologically interesting behaviour and it is well known, but people still fall in this kind of MLM trap.
The claims that Ever FX have denied any relationship with Cash FX are false.
The link below is an account manager from Ever FX saying the complete opposite.
Can someone explain this?
You will all probably say it’s fake lol.
https://youtu.be/U5gA6xQ_R5s
video not available
I made the choice to register on the platform, to allow you to earn more money you have to proceed with a sponsorship system like many platforms nowadays. The negative point for me is the response time of the platform in case of identification problem or everything else.
I have a monthly return on investment, which varies around 9% and I was able to recover all of my first investment in 10 months.
Truth
Thank you Kirss. You are the only one so far, that comes close to answering one of the burning questions I have had since joining cash fx “can I earn back my initial investment?” I believe I have a strategy now to achieve that and hopefully minimize my losses. Once again thanks heaps for your post.
Glad you are helping out others who seem to believe that nobody lies.
Hope to do what you do and or join your blogging
Thanks DJ, I get a lot of flack for what I do but I will continue regardless! My aim to help as many people as possible reach their income goals online and achieve true financial freedom. Though most will never be willing to put in the time and effort it takes to get there.
So keep at it, never quit, follow the right training and you’ll get to where you want to be!
All the best!