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CryptoLux platform does not provide any information pertaining to the owner or the person in charge of the website. This website is quite suspicious as there are a number of red flags on it such as the use of stock photos to represent “Robert Alexander” whom they claim is the CEO and Founder of CryptoLux. That means the team behind this operation is not real and if they are real, they are not offering us any life changing opportunity and so there is no need to even sign up for the opportunity.
The name and bio of Robert Alexander also appears on another website called FXTM Capital Advanced Markets Invest. So this means that CryptoLux just copied this website because they were too lazy to implement some creativity here. Again, this proves that CryptoLux is not a legit investment operation because if they were truly genuine, they would put more effort into creating their professional profiles. They would never see the need to conceal their identities. So this is possibly a scam. If you are wondering how, continue reading this review because we are about to reveal some nasty details concerning the same.
But if you want to invest in Crypto currencies right away, our recommendation is that you should consider trading them with these bots.
What is FXTM Capital? The name sounds like that of a Forex broker but believe us, this is a collapsed ponzi scheme which used to tout a monthly return of 100%. Clearly this is a dream that can never be achieved. It should also be crystal clear that whoever is or was running FXTM Capital is also responsible for CryptoLux. The website where CryptoLux is hosted at was privately created in November 2017. They went ahead to register a company in the UK called CryptoLux Ltd and all this is meant to create credibility in their operation. Does it mean that a company registered in the UK won’t steal from you? We doubt it. This means nothing, and internet thieves are nowadays incorporating their companies in the UK because it costs next to nothing to incorporate one in the UK.
This website also shows some characteristics of an MLM. It is not upfront with details of its owners, and definitely this is suspicious because if indeed it was a legit website, these details would have been available. The people behind it would be real people with professional profiles. But this is not the case anyway.
You must sign up when there is a real product or service behind their operation. If this is not available, then clearly you are clearly getting yourself into an MLM scam. Let’s face it. CryptoLux claims that users can invest $10 worth of Crypto currencies to earn 150% monthly ROI. There are 8 investment plans in total offering different levels of rewards for participants who actually invest in the scheme. We won’t list them here because they are already available on the website. Each one of these plans are supposed to run for a specific length of time and users are also promised a certain ROI for those plans.
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If you invest in CryptoLux, the platform will reward you in CLX coins, which is a Crypto currency that is not publicly trade able.
Residual commissions are paid out in uni-level compensation structure. In this arrangement, one affiliate is placed at the top of the structure, with every other personal recruit being placed directly under them. In addition to this, the company is awarding bonuses for various ranks that are achieved by the company’s recruits. These bonuses are anywhere between $50 and $80,000.
Like any other MLM, joining this one costs nothing because its business operation involves promoting memberships until people sign up. That’s how you are paid commissions. However, full participating will require a minimum of $10 which is invested in the Crypto currency. This Crypto currency is not publicly traded as mentioned above, and so you are investing in something whose value is not clearly defined.
FXTM Capital is a failed ponzi scam which used to attract those wanting to invest in Forex trading. It is often easy to spot these scams as they always share the same characteristics and if you miss them, it is just because you have chosen to turn a blind eye and not because you do not know.
CryptoLux is essentially the same thing as the failed ponzi scheme that these guys used to run. The only difference is that these scammers are reusing Crypto currency trading to give it some legitimacy. But the idea is still the same.
When asked where and how revenue is generated for CryptoLux members, they claim that this is generated through AI trading system for Crypto currencies. This has always been the claim for most Crypto currency scams that insist on building a pyramid scheme.
As always, these guys are not providing us with any evidence concerning the existence of such a trading system. On top of that, the company does not provide us with evidence of any external source of revenue. Therefore, based on the official way of ponzi operations, CryptoLux will only pay out ROIs when they have collected funds from new recruits. If the number of recruits is dwindling, the operators will simply stop issuing payouts and disappear into the thin air. To confirm that this is a pyramid scheme, look at the commissions which they are paying. Adding commissions into the equation is a confirmation that this is a pyramid scheme.
As with any pyramid scheme scam, a decline in the number of people coming in equates to a decline in revenue. This would eventually lead to a scenario where the owners will close down shop and disappear with investors’ funds.
We have always warned our readers not to waste their time on ponzi schemes. They don’t compensate time invested well, and there is always the risk of losing funds. Just trade Crypto currencies with a professional trading bot.
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I invested with them but now they are not allowing withdrawals. Also CLX is being traded at $0.0005
i fell for it and put in my 18 ltc. 2 weeks later the web site is gone. lesson learnt