On its website, OneX Finance omits to list ownership or executive details. The domain name (“onexfi.com”) for OneX Finance‘s website was privately registered on May 3, 2023.
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OneX Finance offers a link to OneX Fi LTD’s incorporation status to appear trustworthy. On May 1st, 2023, OneX Fi LTD was established in the United Kingdom. An MLM company that is based in the UK or that makes that claim should raise red flags.
The UK offers incredibly cheap and essentially unrestricted incorporation. Additionally, the FCA, the UK’s leading financial regulator, does not actively combat securities fraud associated with MLM.
As a result, scammers seeking to establish, run, and publicize fictitious businesses frequently choose the UK as their preferred country. Incorporation in the UK or registration with the FCA has no significance for MLM due diligence.
Always consider joining and/or giving any money to an MLM firm very carefully if it is not transparent about who owns or runs it.
We look at 34 different data points when analyzing and rating online money-earning opportunities. Once the research on these data points is submitted, expert contributors reach out to the company’s customers and associates to get more insight into their operation. Finally, all the collected information is presented in the form of this expert review.
All the data is extracted from publicly available information and the sources are given in the transparency section at the bottom of every report.
These reports are made possible by the collective efforts of contributors like you. If you would like to become a contributor then contact us here.
Their Products
No retailable goods or services are offered by OneX Finance. Only the OneX Finance associate membership itself may be promoted by affiliates.
Their MLM Compensation Plan
Affiliates of OneX Finance make bitcoin investments in USD equivalents. On the promise of advertised returns, this is done:
| Invest | Receive (a day) | For |
| $100 or more | 25 cents | 60 days |
| $100 or more | 30 cents | 120 days |
| $100 or more | 35 cents | 180 days |
| $100 or more | 40 cents | 240 days |
| $100 or more | 45 cents | 299 days |
| $100 or more | 52 cents | 360 days |
Down two levels of hiring, OneX Finance provides referral commissions on cryptocurrency invested (unilevel):
| level 1 (personally recruited affiliates) | 2% |
| level 2 | 1% |
How to Join This MLM Scam
The OneX Finance affiliate program is free to join. The associated income opportunity requires a minimum commitment of $100 to participate fully. OneX Finance invites investors to invest in several cryptocurrencies.
How Do Ponzi Schemes Work?
A Ponzi scheme is a fraudulent investment scheme that entices investors with high rates of return and little risk. A Ponzi scheme is a fraudulent investment operation in which money is collected from later participants to pay returns to earlier investors. This is comparable to a pyramid scam in that both rely on new investors’ money being used to reimburse the previous funders.
-When the influx of new investors stops and there isn’t enough money to go around, both Ponzi schemes and pyramid schemes finally hit their bottom. The plans then start to fall apart.
-The Ponzi scam brings in new investors by promising them a substantial payoff with little to no risk, which creates returns for previous investors.
-The fraudulent investment scheme’s basic idea is to reimburse the initial backers with money from future investors.
-Companies that run Ponzi schemes concentrate all of their efforts on finding new investors because, without them, the scheme will run out of money.
-The SEC has provided advice on potential Ponzi scheme red flags, such as guarantees of returns or unregistered investment vehicles with the SEC.
Get Justice Suspicious
-Bernie Madoff perpetrated the largest Ponzi scam, defrauding thousands of investors of billions of dollars.
What is an MLM Scam?
Multi-level marketing (MLM), network marketing, or direct marketing businesses involve selling products to family and friends as well as recruiting others to do the same. However, some MLMs are illegal pyramid schemes.
Recognizing Ponzi schemes
Clients are promised a substantial payoff at little to no risk in a Ponzi scheme, an investment fraud. Companies that operate Ponzi schemes put all of their efforts towards luring new investors.
The returns to the initial investors are paid using this new revenue, which is designated as a profit from a legal transaction. Ponzi schemes depend on a steady stream of new investments to keep giving older investors profits. The plan fails when this flow is exhausted.
The Reason Behind the Name “Ponzi Scheme”
Charles Ponzi, a businessman in the 1920s who successfully persuaded tens of thousands of people to deposit their money with him, is credited as the inventor of the Ponzi scheme. Ponzi’s plan involved buying and selling discounted postal reply coupons to guarantee a certain profit after a certain period. Instead, he was using newly invested funds to settle debt from the past.
How Can a Ponzi Scheme Be Spotted?
The SEC has noted a few characteristics that frequently indicate a shady financial plan. It’s critical to realize that almost all investing strategies involve some level of risk, and many of them don’t guarantee results. if there is a business opportunity
(1) ensures a particular return,
(2) ensures the return by a specific date, and
(3) is not registered with the SEC, the SEC warns investors to invest cautiously since they are signs of fraud.
Which Ponzi scheme is the most well-known?
Bernie Madoff was in charge of the most well-known Ponzi scheme of the contemporary era. His company ran the biggest Ponzi scheme ever, bilking thousands of investors out of billions of dollars over several years.
Ponzi Scheme Warning Signs
No matter the technology employed in the Ponzi scheme, the majority have similar features. The following characteristics to look out for have been recognized by the Securities and Exchange Commission (SEC):
-The promise of large returns with little risk is guaranteed
-A steady stream of returns irrespective of market conditions
-Unregistered investments with the Securities and Exchange Commission (SEC)
-Secret investment methods or methods deemed to be too complicated to discuss
-Clients aren’t permitted to access the official documents related to their investment
-Customers had trouble withdrawing their money
OneX Finance: Conclusion
OneX Finance claims that trading cryptocurrencies are how it makes money from outside sources.
| Profit for OneX Finance is generated via the purchase and sale of digital assets. The average net profit is around 350% annually. |
Two inquiries are instantly prompted by this:
-How can an MLM firm that has just been around for a week advertise a yearly ROI rate?
-What does OneX Finance need your money for if they can already produce 350% annually?
OneX Finance does not offer any convincing proof that it is involved in trading or another form of external revenue creation.
The only remaining source of incoming money for OneX Finance is a new investment. OneX Finance is a Ponzi scam since it uses fresh capital to repay previous investors.
As with all MLM Ponzi scams, the fresh investment will cease as soon as affiliate recruiting does. As a result, OneX Finance will eventually collapse from a lack of ROI revenue.
The arithmetic underlying MLM Ponzi schemes ensures that the majority of participants lose money when they fail.
This website is FRAUD, not letting me withdraw my money.
Please stay away from them as this platform is run by scammers.
I have tried various cryptocurrencies and online platforms. But this was the first time when I got scammed by this website. Having lots of experience in trading, I would not recommend this platform to anyone. They are just prompting the Ponzi schemes and scamming various investors. There was a lack of transparency and no proper information was given to the investors regarding their investments. I get nothing in return for the money that I invested in this platform.
They are a shady cryptocurrency platform, their main intention is to dupe naive investors.
I signed up on the website, but it was unsecured for the investments.
The support staff tried to mislead me. They were unable to clear doubts regarding cryptocurrency. They cannot be trusted at all. Iām unable to recover my amount.
It would be best to research it properly before going for further steps. Beware of these crooks.
There were login errors, transfer errors, and late withdrawals. Please do not use this fake platform.
Complete worthless schemes, a total waste of time, and horrible customer service. Try at your own risk.
I would not recommend anyone to invest in this bogus website. They are claimed to be a cryptocurrency trading firm but in reality, they are not.
I withdrew some amount from this website but the amount was not credited to my bank account.
When I called their customer service they were not picking up my phone.
I was still waiting for their reply.