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CashFX Trading

  • 26-03-2021 9:25am
    #1
    Registered Users Posts: 167 ✭✭ trafficlight


    Hi,

    Just wondering if anyone has heard of CashFX and if they have gotten involved in investing. A friend of mine has told me about it and how they have had good returns from it but I feel i need to do some research before i would sign up - any info would be appreciated.

    Thanks


Comments

  • Registered Users Posts: 102 ✭✭ dubal2008


    do a bit of googling and you will quickly find out.....


  • Registered Users Posts: 351 ✭✭ OneLungDavy


    I started myself recently with the 500 pack. A few people I know and trust have made some decent money so feck it, thought I'd try. If the money you invest won't cripple you financially, then it's worth a punt.


  • Registered Users Posts: 167 ✭✭ trafficlight


    Thanks, yeah im tempted but unsure when it will come to withdrawing, paying tax on what you make etc - how does it actually work. Id suppose really am just wary of getting into something that will come back to bite later. (im not very familiar with trading)


  • Moderators, Society & Culture Moderators Posts: 17,643 Mod ✭✭✭✭ Graham


    CashFX is a scam, 20 seconds of Googling will tell you.

    It might pay out for a while until the whole thing implodes. MLM / Pyramid / Ponzi


  • Registered Users Posts: 351 ✭✭ OneLungDavy


    Graham wrote: »
    CashFX is a scam, 20 seconds of Googling will tell you.

    It might pay out for a while until the whole thing implodes. MLM / Pyramid / Ponzi


    Googling will tell you everything is a scam. It's worth a punt.


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  • Posts: 0 [Deleted User]


    My father was asking me about this last week and I saw the Google results myself.

    I think the reason they were able to show good returns lately is because of the explosion in market for since January.

    I told my father to open the CoinBase account as per the instructions but just to invest and hold the coins himself.


  • Moderators, Society & Culture Moderators Posts: 17,643 Mod ✭✭✭✭ Graham


    Googling will tell you everything is a scam.

    Particularly where it is an actual scam.
    I think the reason they were able to show good returns lately is because of the explosion in market for since January.

    The reason they're able to show a good return is there are enough suckers who think it's worth a go.


    Red Flags

    Buy more / bigger package / Level up
    Recruit more people
    Get the people you recruit to recruit more people
    Promises of consistent and unfeasibly high returns.
    Convince the army of recruits that they should ignore anything remotely negative. Put it down to jealousy, lack of understanding, cowardice, ex-employees.
    Astroturf review sites
    Players from the Banners Broker scam that worked remarkably like this before it imploded.
    'Partners' that deny being partners.
    Warnings from the UK Financial Conduct Authority plus and other regulators.


    It's a MLM scam.

    It'll keep running until:

    a) it runs out of suckers
    b) it vanishes overnight
    c) one or more of the owners get nicked


  • Registered Users Posts: 1 Charles Ponzi


    This is a ponzi scheme being marketing by serial ponzi scammers from ireland ,last big ponzi was dascoin ,the same people are promoting this,they are all over youtube etc zooming away ,stay away from Cashfx


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