Cash FX Group is a forex trading platform that claims to offer high returns on your investment. However, many customers have reported that Cash FX Group is a scam that does not pay out withdrawals and ignores support requests. In this blog post, we will review Cash FX Group and explain why you should avoid it at all costs.
Cash FX Group was founded in 2019 and is based in Panama. The company claims to have a team of experts who trade forex using artificial intelligence and generate profits for the investors. Cash FX Group also claims to have a partnership with a licensed broker called EverFX, which supposedly provides liquidity and security for the trades.
However, there is no evidence that Cash FX Group is actually trading forex or that EverFX is involved in any way. Cash FX Group does not provide any proof of its trading activities, such as audited reports, trade history, or live results. Moreover, EverFX has denied any association with Cash FX Group and has warned its clients not to deal with them.
Cash FX Group operates as a pyramid scheme that relies on recruiting new members to pay the existing ones. The company offers various packages that range from $300 to $100,000, promising daily returns of up to 15%. The company also pays commissions and bonuses for referring others to join the scheme.
However, many customers have complained that Cash FX Group does not honor its withdrawal requests and keeps delaying or canceling them. Some customers have been waiting for months to receive their money back, while others have lost their entire investment. Customers have also reported that Cash FX Group does not respond to their emails, calls, or messages on social media.
Cash FX Group has been flagged by several regulators around the world as an unauthorized and fraudulent entity. The regulators include the Financial Services and Markets Authority (FSMA) of Belgium, the Securities Market Commission (CMVM) of Portugal, the Commissione Nazionale per le Società e la Borsa (CONSOB) of Italy, the Securities Commission of The Bahamas (SCB), the Ontario Securities Commission (OSC) of Canada, the Australian Securities and Investments Commission (ASIC), the Central Bank of Ireland (CBI), and the Monetary Authority of Singapore (MAS).
These regulators have warned the public not to invest with Cash FX Group or any of its affiliates, as they are not licensed or regulated to provide financial services in their jurisdictions. They have also advised the victims of Cash FX Group to report their cases to the local authorities and seek legal advice.
In conclusion, Cash FX Group is a scam that should be avoided by anyone who values their money and time. The company does not trade forex or generate any profits for its investors. Instead, it operates as a pyramid scheme that pays old members with new members’ money until it collapses. The company does not process withdrawals and ignores support requests. The company has also been blacklisted by multiple regulators around the world as an illegal and fraudulent entity.
If you have been scammed by Cash FX Group or any other broker, you’ll want to seek assistance from Broker Dispute immediately. Our experts will consult with you and bolster your claim to help you get your money back. Broker Dispute is a leader in recovering your funds and will help you retrieve your funds from a broker scam