EssenceFX Review: Pyramid Scheme Underbelly Trading Niche

There is no proof to back the claim that EssenceFX is involved in Forex and commodities trading. The only source of income is the recruitment plan. This makes it a Pyramid Scheme.

EssenceFX has mentioned no names regarding who operates the company or who owns it. The website does say that the company is incorporated in Vanuatu. Vanuatu is known for breeding scams specially for companies operating in the MLM niche.

If EssenceFX is not based out of Vanuatu, which it doesn’t based on the Alexa estimates, the company is surely planning a scam. According to the Alexa scam, the maximum traffic of about 98% comes from Malaysia. This indicates that the company is from Malaysia.

The company does not have any products or services that can be retailed. The affiliates can only connect with the company through their affiliate membership plans. To join their membership plan and to enjoy full participation, one must pay a minimum of $100. For beginners, the membership comes free though but with restricted benefits.

EssenceFX does not provide proper information about the company and isn’t transparent to its investors. This puts the company in the high risk zone. You must think wisely before giving your money to anonymous admins who have no face or name.

EssenceFX – The Compensation Plan

According to the company’s terms, an investor has to deposit fund for receiving passive returns.

  • Standard Plan: One must invest between $100 and $10,000
  • Elite Plan: One must invest between $10,001 and $50,000
  • Prime Plan: One must invest $50,001 or more

As you can expect, the more you invest the higher you get paid through their return plans.

EssenceFX – The Referral Commission

The company uses uni-level compensation plan to pay referral commission to its affiliates. In a uni-level compensation plan, an affiliate is placed on the top order. The ones who are recruited personally are placed directly under the one who recruited them.

For example, the affiliates who are recruited by the top affiliate are placed on level 1. The affiliates who are recruited by the level 1 affiliates are placed on level 2 and so on.

The cap is made at the eight level. Also, the company determines the referral commission based on the amount one persuades others to invest in the plan. Accordingly, there are two tiers of referral as follow:

  • Introducing Broker: One must recruit a minimum of 30 affiliates who invest $100 or more each. And, generate a minimum of $5000 in personally recruited affiliate investment volume as well as at least $15,000 in cumulative of entire unilevel team investment volume\
  • Master Partner: One must recruit a minimum of 100 affiliates who invest $100 or more each. One must own at least 5 Introducing Brokers in the uni-level team. And, maintain at least $1000 in downline monthly investment volume and $3 million cumulative of uni-level team investment volume

Residual Commission

  • Plan 1: One earns $2 per lot investment by their personally recruited affiliates
  • Plan 2: One earns $5 per lot investment by level 1 Introducing Brokers
  • Plan 3: One earns $0.60 per lot investment by level 2 Introducing Brokers
  • Plan 4: One earns $0.30 per lot investment by level 3 Introducing Brokers
  • Plan 5: One earns $0.20 per lot investment by level 4 Introducing Brokers
  • Plan 6: One earns $0.10 per lot investment by level 5 till level 8 Introducing Brokers

EssenceFX – Reviews

Diana C: Trust me, these guys are monsters with no empathy. They will take your money and will never look back as if you never existed.

P Shaw: Fraud. I invested and still cannot see the money in my account. The customer care never listens.

The Conclusion from the above Reviews

As you are see, the company is not trustworthy and people are facing trouble getting their answers back from the customer care. Not just that, it seems fishy as the company operates from Malaysia and incorporated in Vanuatu.

The Verdict

If you will visit their website, you may be confused by the plethora of information they have tried to put regarding their fake claims. If you will look deeper, all you will find is a pyramid scheme underbelly trading niche.

As there is no proof that the company is engaged in forex and other financial trading, the only source of revenue left is the recruitment investment. So, once the recruitment will dry, the ROI will stop as well.

The ones joining at the beginning of the scheme may get something back. However, the majority of the affiliates will lose money. If anyone would be making any benefit, then it will be the anonymous admins.

Hence, I would suggest not investing in this fraudulent plan and decide wisely.

 

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1 comment on EssenceFX Review: Pyramid Scheme Underbelly Trading Niche

  1. John Paul Jones

    pfft,these reviews made by you or you copypasted from behindmlm,it seems you guys are just the same company thats jealous of one,and are afraid of losing customers,im an investor,and each transaction is recorded in deposit and withdraw history,no forex proof?,I even used another brokers MT4 to use the EssenceMillennium server to trade in forex,minimum depo is 10$ and depoing doesnt even give you passive return,either you trade yourself,or use their copytrading services,pretty much same as MQL5 community,you depo 100$ its not going to do anything,their charts are similar to the FCA,ASIC and VFSC regulated brokers,you know of per lot but dont even know that per lot in forex is 1.00lot,how to get lots?either open order either buy or sell and with knowledge get profit,after finalising you get lot based on your order size hahahaaha,you guys are idiots if you have never learned forex,even in form 4 you already learn accounting,whats a money exchanger? its a physical version of forex,called Foreign Exchange