Summary: Forget what other reviews are saying, there is no conclusive evidence that proofs Fxsuccess is a scam or not but we agree that it might be a scam mainly because it is structured like a Ponzi.
One of the reasons we started ideasdome.com is to bring you honest reviews. And this is why it’s important. It appears most of the reviews out there only want to promote their agenda and so they go out of their way to falsify information about the reviewed platform. Don’t get us wrong. It’s okay to promote platforms because you have to monetize your website one way or another, for example here at Ideasdome we recommend these platforms here. But what’s not okay is what many investment review websites are doing. They lie about the reviewed platforms just so that they can promote other platforms. At ideasdome we promise to always bring you only factual information about all platforms that we review.
That said, let’s get on with this important Fxsuccess Honest review
First a few facts about the platform
1. It has founder(s): Many reviews claim there is no information out there about the founder(s) of Fxsuccess but that’s just a blatant lie. I checked their UK registration document and here’s what I found.
Fxsuccess is registered as Fxsuccess Trading Limited and has the company number 11314073. And the following individuals were listed as officers of the company with significant control
- Williams Anthony (Role: Secretary)
- Barnes Bryan (Born. April 1971)(Role: Director)(Occupation: Financial Analyst)
- Cornwallis Patricia (Born July 1965) (Role: Director) (Occupation: Accountant)
Barnes Bryan is the most active officer of Fxsuccess because he claims to do the trading and investments
2. It has a U.K registration: Yeah it’s registered (see above) but as I later explain it means nothing and it could still be a scam
3. Domain name details: The Fxsuccess.co domain name was registered on 2018-08-05 and renewed in 2019. Unless it is renewed again, it will expire on 2020-08-05. This means Fxsuccess has been in operation for over 2 years.
How Fxsuccess platform works
Fxsuccess is not a trading platform in the truest meaning of the term. It’s just an investment platform. It makes the unverifiable claim that it generates profit through cryptocurrency, forex, and binary options trading. Bryan does the trading and on the website, he claims to make 8-10% returns every week and keeps anything over 7% for himself. The platform tries to make itself look legit by giving a brief education on its website about cryptocurrency and bitcoin, trading, and many more. These entirely mean nothing and many scam platforms do this to try to look legit.
The starting amount for joining the platform is $1000 which we think it’s greedy on the part of the founders considering they seem to be running a Ponzi scheme as I explain below. Why should anyone join an expensive Ponzi when they could join a cheap one? Moving on, Fxsuccess claims every member can earn a 7% weekly bonus on investment. Juicy but looks very suspicious and I don’t recommend.
But many greedy reviewers may recommend because Fxsuccess.co offers a 2-level referral program where you can 5% and 3% bonus for referring others to this suspicious platform. Please do not do this
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Is a Fxsuccess a scam?
Many times it’s okay to conclude a platform is a scam if it looks like one especially if it’s a new platform. But Fxsuccess.co has been around for over 2 years which is longer than most scams. Fxsuccess looks like a Ponzi scheme as I will explain in the next section but we cannot categorically call it a scam yet because it’s been around for over 2 years and nobody has ever reported being scammed by Fxsuccess. This doesn’t mean it’s not a scam. What I feel is happening is it has not had the opportunity to scam anyone because of its greedy entry fee of $1000 which makes it too expensive for many to join.
See the next section about what I’ve found suspicious about the program and why this is a Ponzi-esque scam platform
Why you should not invest in the Fxsuccess.co platform
1. Lack of transparency: While Fxsuccess claims to invest in forex, Crypto, and binary options trading, there’s no evidence of this. No screenshots, no trading proofs, no payment profits. What proof do they have that they carry out any of these trades? Fxsuccess is suspiciously silent about all of these important issues.
2. Suspicious Testimonial Video: It reeks of falsehood if an investment platform can only boast of 1 testimonial considering the platform (Fxsuccess.co) has been in operation for over 2 years. And permit me to point out that the testimonial video on their website looks like something that was bought on Fiverr. In any case, I doubt it’s from an actual investor. It lacks details and feels off.
3. Fake Numbers: The stats on the Fxsuccess website are fake. How do I know? It’s been static for at least a year. And it looks fake considering the website does not have the kind of traffic that will support these kinds of figures. 524 Average Transactions per hour? Come on Fxsuccess! Ease up on the lies. Also why always 8 years experience? If Fxsuccess founder(s) had 8 years of experience when they started, 2 years later and still in operation will mean they should update it to 10 years. But we all know what’s going on here…lol. These are manufactured numbers.
4. Ponzi-esque structure: In addition to all of the aforementioned methods frequently employed by most Ponzi, the fact that Fxsuccess has no proof of any external profit also signposts it as a Ponzi because it appears to be generating profits for old investors using new investors’ funds.
5. U.K registration: They indeed have U.K license but it’s not a guarantee Fxsuccess is no scam. Most scam platforms also use this basic U.K registration. Other legit platforms use it too. U.K license is convenient and cheap and does not usually involve any kind of serious background check of the founders of the company which makes it very suitable for anyone trying to perpetrate scams. So the lesson is this, just because an investment platform brandishes a U.K license does not mean it’s a legit platform. Take from that what you will.
If you have $1000 to waste you can try out Fxsuccess but I do not recommend this platform.
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