Welcome to my FX Farms review.
If you have recently chanced upon this forex trading company, and are wondering about its legitimacy, you have landed at the right place. Here, I hope to answer all the questions you may have.
Even though its website looks very professional and credible, I have some serious doubts about this new firm.
I will point out all the red flags that make me question its trustworthiness, and show you the evidence wherever possible, so that you can make the best-informed decision for yourself.
Ultimately, what you do is your responsibility. I simply offer my opinions for you to make your own judgement about this opportunity.
Without further ado, let’s dive right in now!
FX Farms Review Summary
Product: FX Farms
Creator: Paul Miller
Product type: forex trading and investment platform
Price: $25 minimum investment
Rating: 1 out of 5
Scam / Legit? : I don’t want to call it a scam as of now, but I have serious doubts about its legitimacy
Recommended or not? : NOT recommended
FX Farms portrays itself as a foreign exchange investment platform. But to me, its operating model looks too much like a Ponzi scheme. It is very new, less than a year old at the time of this writing. Most importantly, it is not registered with the US SEC (Securities and Exchange Commission) even though it supposedly operates in the US, UK and some other countries.
What is FX Farms
To find out what is FXFarms, let us first take a look at its website:
At first glance, it seems like FX Farms trades in foreign exchange, commodity, and cryptocurrency.
In that case, clients should be able to decide on the currency pairs that they would like to trade in, or whichever commodity is available on the platform, depending on their preferences, knowledge, confidence level, etc.
But, no. This is not how it works on FX Farms.
It seems like you will be leaving everything to their “experts”.
And simply entrusting them with your money blindly, leaving complete control to them and believing they will earn you 1.5% returns daily for 140 days, just because they say so.
How FX Farms Works Exactly
FX Farms offers investment plans based on how much you put in.
At the base (lowest) level, these are the returns on your investment that you will supposedly get.
Though it sounds very promising to be earning 1.5% over 140 days, remember you are just relying on the people behind FX Farms keeping their word.
What if the investment strategies of the “experts” fail them? No investment is without risk. In fact, forex trading is very high risk. No one can guarantee any profits, not even the best investors in the world.
What, then, when they lose your money?
In fact, my instincts tell me that this works more like a Ponzi scheme. There are no actual investments taking place.
When you hand over your money, they use it to pay earlier “investors”. For you to get your money back, along with some profits, you will have to depend on newer investors joining the program.
Hence the focus on its referral program.
The more people who join the program with your referral link, the more you earn, as a percentage of their investments.
Beyond the Base Level investment plan, there are the Trader, Lead, Eagle, and President plans.
To invest at the President Level, you would have to fork out at least $55.5K, to earn daily returns of 2.45% over 205 days.
Again, it sounds very lucrative and enticing. People behind such schemes will often even persuade their clients to borrow money just so they can invest at a higher level, for higher promised returns.
This is unethical and very dangerous.
What are FX Farms clients saying?
At the moment, there seems to be more positive than negative feedback about the trading platform.
But do not take this as a signal that this is a safe trading platform.
In such Ponzi schemes, they frequently pay out in the beginning, to earn the trust of investors, so that they can easily pool in even more money.
In fact, they will genuinely want this scheme to last for as long as it possibly can, since it will be to their advantage too. So long as there are new investors joining the program, they will be able to pay out to earlier investors.
After some months, or sometimes years, the scheme is bound to collapse, when recruitment of new investors come to a standstill, and everyone who is possibly interested to join the scheme has joined.
At that point in time, majority of investors will lose money. That is how the mathematics of Ponzi schemes is structured to work out.
For anyone to make money out of this, many more will have to lose money.
The ones laughing their way to the bank are Paul Miller, his team, and some of the early investors.
You may be wondering what made me so sure about my allegations.
Red Flags in FX Farms
On the whole, my sensing about FXFarms is that they are trying to portray themselves as a very established company when they are not.
Did they really set up offices in five countries?
Their website domain was registered only in November 2019. That makes the company 10 months old at the time of this writing.
How would they have set up offices in numerous countries in such a short time? These supposedly include UK, the US, Spain, Greece, and Hong Kong, according to their website.
I did a simple check on the Hong Kong address, and found many other unrelated organizations using the same address. So that is likely to be just a virtual office or postbox that they bought.
Harping on irrelevant things
So, their website has got an SSL certificate. And they have to say it explicitly in one of the Youtube videos, in trying to convince people to choose FX Farms over others.
I seriously do not know what to say about this.
A secured website is such a basic part of any company’s infrastructure that it does not make any sense to highlight it.
Even I, as a solopreneur, have an SSL certificate on my website, what more an investment company that deals with millions of dollars?
Do they not have any other credentials to showcase?
Not registered with the US SEC (Securities and Exchange Commission)
Since they operate in the US, among other locations, it is one of the most basic requirements for FX Farms, being an investment and trading company, to be registered with the SEC.
For the life of me, I just cannot find any evidence of its registration.
On its FAQ page, there is a statement that addresses this in a slipshod manner.
With this single sentence, they expect us to take their word for it.
To round up this article, let me recap and summarize the pros and cons, before I finally make my conclusion.
Pros of FX Farms
1. Possible to make some money
While it is possible to make some money if you’re lucky enough to enter the game at the right time, the risk is too high. Be prepared that you may lose everything too. So never ever invest using money that you cannot afford to lose.
Cons of FX Farms
1. It is a Ponzi scheme
Ponzi schemes are illegal, because they exploit the ignorance of most investors who hold on to false hopes that they would be able to profit out of this, when in fact these schemes are designed for the majority to lose money.
2. For one to win, many have to lose
There is no real revenue generation – no real products, no real investment in foreign exchange, commodity or cryptocurrency.
Where will the earnings come from?
The only source of income is from the pockets of investors.
So for even one person to make money out of this, many more who join after him will have to risk losing their money. It is a simple numbers game.
Paul Miller and his gang are the only ones who had a sure-win from day one, the moment they started operating this business.
Is FX Farms Scam or Legit?
FX Farms is not the investment and trading platform that it makes itself out to be.
Whether it is a scam or not, I will leave it to you to decide.
All I can say is – if you will heed my advice, stay far away from this. It is no good.
Yes, people may be earning right now, but schemes like that will die a natural death way too soon, and you do not want to be caught in a financial situation with it when that happens.
I know you want to be rich. Believe me, I do too.
It’s a very natural thing, that’s just human nature. I mean, find me someone who doesn’t want to get rich fast, and with minimum effort.
I wasn’t spared of all the temptations on the internet, hopping from one shiny object to the next.
But when I realized those empty promises are only going to make other people rich, and not me, I stopped looking for shiny objects.
I found a dull-looking one, but I knew in my heart that is the real deal. And from then on, I have never looked back.
An honest, down-to-earth method that will get you there. It’s not going to be easy, but it will get you there.
Versus the fast and easy way to empty your pockets and get you nowhere.
Which would you choose?
I think I can guess your choice. 🙂
So now, let me extend my humble invitation for you to join me on this online journey.
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You can do this too.
Here’s a peek into my daily earnings:
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Check out this training platform that provides all the resources, tools, along with an entire community of aspiring as well as already successful online income earners:
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If you have any concerns or questions regarding this FX Farms review, do comment below, and we will start a conversation from there.