Introduction
FX Trading Corp is a South Korean-based multi-level marketing company that offers investment opportunities in the forex market. The company claims to generate profits through its trading activities and share the profits with its investors. In this article, we will review FX Trading Corp and evaluate whether it is a legit investment opportunity in 2023.
The Company
FX Trading Corp was founded in 2018 by a group of forex traders led by Young Min Oh. The company has its headquarters in Seoul, South Korea, and has branches in various countries, including Japan, Thailand, and the Philippines. FX Trading Corp claims to have a team of experienced traders and analysts who use advanced trading strategies to generate profits in the forex market.
The Investment Plans
FX Trading Corp offers four investment plans to its investors, namely the Basic, Standard, Premium, and VIP plans. The minimum investment amount is $100, and the maximum investment amount is $50,000. The company promises daily returns ranging from 0.5% to 2.5%, depending on the investment plan. The investment period ranges from 200 to 400 days, depending on the plan.
The Compensation Plan
FX Trading Corp uses a multi-level marketing (MLM) compensation plan to reward its investors for bringing in new investors. The company pays commissions up to 10 levels deep, depending on the investor’s rank. The ranks are determined by the investor’s total investment amount and the number of referrals.
The Risks
Investing in FX Trading Corp comes with several risks. Firstly, the forex market is highly volatile, and there is no guarantee that the company’s trading activities will generate profits. Secondly, the company’s MLM compensation plan resembles a pyramid scheme, where the profits come from recruiting new investors rather than actual trading activities. Pyramid schemes are illegal in many countries and can result in heavy penalties.
The Red Flags
There are several red flags that investors should be aware of before investing in FX Trading Corp. Firstly, the company is not registered with any financial regulatory authority, such as the Securities and Exchange Commission (SEC) or the Financial Conduct Authority (FCA). Secondly, the company has been flagged by several financial watchdogs, including the Financial Services and Markets Authority (FSMA) and the Financial Supervisory Service (FSS) in South Korea.
The Verdict
Based on our review, we do not recommend investing in FX Trading Corp. The company’s MLM compensation plan resembles a pyramid scheme, and there are several red flags that suggest the company is not operating legitimately. Moreover, the risks associated with investing in the forex market are high, and there is no guarantee that the company’s trading activities will generate profits.
Conclusion
Investors should always do their due diligence before investing in any company, especially in the forex market, which is highly volatile. Investing in a company like FX Trading Corp, which has several red flags and operates in a regulatory grey area, is not advisable. We recommend investors to explore other investment opportunities that are regulated and have a proven track record of generating profits.
