What is FXProg.com? Is FXProg a Scam or a Legit?
Here, we are providing the honest review on FX Prog. So, if you are searching for the FXProg reviews in order to find out either is FX Prog a scam or a legit, what is FX Prog in real, then you don’t have to search any further FX Prog reviews for that because through our FXProg review, you are going to find out the complete truth about this company. Actually, we have listed FXProg.com within our Bad and Scams category because it is a combination of two illegal schemes, known as Ponzi and Pyramid scheme. However, if you want to find out in detail why is FXProg.com a scam, why is it a Ponzi Pyramid hybrid, then you can find that within our FX Prog review as below. But, after knowing the fact that FXProg is a scam company, if you don’t want to find out more details on it, but instead want to find out the list of legit online money making opportunities, then you can find the list of legit online works and businesses by clicking this link:- newsonlineincome.com/legitimate-work-home-businesses/
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OK, let’s begin with our FXProg.com review in order to find out what is FXProg in real and why is FXProg a Ponzi and Pyramid hybrid.
FXProg login and join in link:- FXProg.com (Not recommended to join, it’s a scam)
What is FX Prog and why is FXProg.com a scam?
Aforementioned, FX Prog is a Ponzi Pyramid hybrid, which means it is a combination of two illegal schemes known as Ponzi and Pyramid scheme which is neither a sustainable nor a legal scheme. So, this much reason is already enough to prove that FXProg is a scam company. But, may be you want to know why it is a Ponzi Pyramid hybrid. OK then, let’s find it out as below.
FXProg Limited is a Ponzi scheme because it offers to pay up to 150% profit within 15 days, 125% profit within 10 days and 110% profit within 5 days, but fails to provide the proof of its real income source from where it can make such amount of profit. Yep, it claims that it can make such huge amount of profit in such a short period of time by using the investment of members in forex and stock market. Now this is completely a bogus claim because none of the expert in forex and stock market can guarantee fix rate of return in fix period of time and that is also such high rate of return. On top of that, if any companies can make such amount of profit, then why that company will take a loan (investment) from the several people and pay them up to 110% profit within 5 days instead of taking a loan from a bank in much more lower rate, less than 1% monthly. If they are the real forex and stock market professionals, then they can easily take a loan from a bank. So, why they want to pay 110% profit within 5 days instead of paying 1% interest rate monthly? So, this proves their business model is completely bogus. The only verifiable source that coming into the company is not other than the money invested by the members which proves it is a Ponzi scheme because every Ponzi schemes pay the few members at starting by routing the money between the members and when they collect the desirable amount of money, they will just shutdown their company and run away with the money of the majority of members. That is why Ponzi scheme is illegal and that is why FXProg is a scam.
FX Prog is also a Pyramid scheme because it claims to pay multi-level referral commission same like MLM companies but without selling any real products or services, just on the sales of its Ponzi ROI plans. If you want to know in detail what is Ponzi and Pyramid schemes, then you can click the following respective links:-
Ponzi Scheme:- newsonlineincome.com/ponzi-scheme/
Pyramid Scheme:- newsonlineincome.com/2017/03/06/what-is-pyramid-scheme/
The another proof which proves FXProg.com is a scam is its “about us page” where it has mistakenly mentioned the name of its previous scam company. There use to be a company with name “Quantum Forex Options” which business model was similar to FXProg. When we check their “about us page”, we find out that they copy paste everything from “Quantum Forex Options” and even forget to replace “Quantum Forex Options” with FX Prog within some places about which you can find the screenshot as below. So, this proves that how much they are careless and this also proves that may be FXProg.com is operated and run by the same group of scammer who use to have a scam company known as “Quantum Forex Options”.
If you check the WHOIS detail or the official website of FXProg, you can’t find out any real information about who and from where is operating the website because they haven’t provided any such details except the UK Companies House registration document. Don’t fall for that company registration detail because anyone can register company in UK Companies House just by paying 20 GBP and by providing the virtual address by renting the address from a virtual address service provider which actually FXProg has did. In the past, lots of Ponzi schemes similar to FX Prog have been already turned into scam who use to have such registration document from UK Companies House. So, this proves that having such document is not the proof of legitimacy, but just a trick to make people confuse to fall for their scam.
Aforementioned, it is clear that FXProg is an illegal company with unclear owner details. That’s why it is a scam company. So, we have listed FX Prog within our Bad and Scams category.
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