BomanFX Review Is bomfx.com A Legit Broker Or Scam

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Exness Review – Is this Forex broker scam or legit?

My personal experience with Exness

I would like to base this review on my personal experience of trading with Exness. I want to share my experience with you.

Finding a legitimate forex broker is not a big issue as there are many trusted brokers in this industry, but finding one that suits your trading strategy best, can be a difficult task. You can read all the reviews you want, about a broker; it simply can’t tell you everything that you need to know.

I have joined several forex brokers, some of them are the biggest brands in this industry; and off course, I did my research before opening accounts with them. With every broker, I found something to be missing. I use different strategies in trading; one requires tight spreads, another one works only with 1:1000 or more leverage [using too much leverage can wipeout your whole account, but if you have a good strategy, you can use it to squeeze maximum profit from a trade while risking only small amount of money.] Anyway, my point is that I need certain features to use each of my trading strategies; for instance, I need fast-trade-execution for one of my scalping trading strategies.

After trying several brokers, I finally tried Exness and I am glad to have found this broker as it offers everything that I need. Following is a list of features I was looking for in a forex broker:

  1. Tight spread
  2. ECN account
  3. High leverage
  4. Supports multiple deposit/withdrawal options including Skrill
  5. Does not disallow any trading strategies
  6. Fast trade execution
  7. Good client area
  8. Fast withdrawal process
  9. Small fee
  10. Offer different types of accounts
  11. Customer Service/Support

Tight Spreads

Exness is offering fairly tight spreads in all types of accounts. I wouldn’t call these spreads the best, but they are better than what many other brokers are offering. I would give Exness 8/10 for the spreads it offers.

ECN account

The ECN account at Exness is very good. The max leverage is 1:200. Spreads are very good. Exness deduct small commission on each trade. This account is very good for using scalping strategies. 9/10

High leverage

Official MAX leverage advertised at Exness is 1:Unlimited, but this there are certain conditions to meet if you want to use it. The feasible option is to choose 1:1000 if you have a strategy that requires using such high leverage! 10/10

Deposit/withdrawal options

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Exness currently supports eight different methods [including Skrill, formerly MoneyBookers] for depositing and withdrawing funds. These include WebMoney, Wire Transfer, CASHU, Excard, NETELLER, and more… 10/10

Trading Strategies

As far as I know, Exness does not block the use of any legitimate strategies. 10/10

Fast Trade Execution

One of the reasons why I left several forex brokers is slow trade execution in their trading platform. If you are using a scalping or any other similar strategy, then you need fast trade execution. Exness trade execution is very good; it is much faster than many brokers I used. 9/10

Client Area

Out of all forex brokers I have used, Exness has the best features in client area. You can easily create multiple trading accounts, change leverage for any account, request withdrawal, and there are many other features! 10/10

Withdrawal

Exness is one of few forex brokers who offer Instant-Withdrawal options. You can receive funds in seconds, literally! Exness processes most withdrawal requests automatically. 10/10

Fee

Exness charges small fee, or commission, on trades you execute in an ECN account. Their fee is much smaller than what many other brokers are charging. 10/10

Account types

Exness is offering several different types of accounts. Each account has a different set of specifications. 10/10

Customer Support

Exness provide 24/7 support. Their live-chat representatives are very helpful. 10/10

As you can see, Exness has everything that I was looking for in a broker. It took me a while to find the perfect broker for myself, but I am glad I finally found one, namely Exness. However, it doesn’t mean that this broker is perfect for everybody; perhaps another broker will suit all your needs. It depends on what your trading strategies are and what features you are looking for in a forex broker.

My overall score for Exness is 9/10 .

Before joining any forex broker, do a thorough research; find the broker that is offering best trading conditions that suit your trading style/strategies.

There are some other features that you may find interesting; for instance, Exness, like many other brokers, is offering trading contests from time to time.

Scam or Legitimate?

You should not worry about the legitimacy of Exness. This forex broker is 100% legitimate; they can’t get more legit then this! I mean, Exness is a legit forex broker who will always pay you your own money as well as the profits you make. You should not worry about Exness scamming you as that is not even remotely possible. It is a trusted and registered forex broker.

Update: I forgot to mention the online reputation Exness have. ForexPeaceArmy is a website that I trust. If you are worried about the legitimacy of a Forex broker, then head straight to FPA. I am not asking you to blindly trust all reviews at FPA; however, they can hugely help you in your online research. Below is a screenshot of current rating of Exness at FPA:

Cash FX Group: Scam or Legit? [Review]

Welcome to one of the few honest and legit Cash FX Group reviews on the net.

I’m sure you have many questions and you haven’t found many answers surrounding this program and that’s just how it is.

You can’t tell if this is actually a legit trading platform or some kind of scam.

Heck, you don’t even know if there’s any real trading going on, like they say.

What you do know is that someone came up to you and told you that this was some crazy company that is paying them for doing absolutely nothing.

Maybe not to our front door but through social media like how every other program is marketed.

That then raises another question on why would anyone want to show you this if it was doing so great.

Lucky for you, I have had my run with these kinds of programs, so you can bet that I know exactly how they work.

I know why they exist, how the money is made, and why anyone would even promote it.

So if you want answers, this review will provide exactly that.

Now before you go back to the person who is begging you to join, let’s see what is really going on here.

They won’t tell you the kind of stuff I’m about to go over, so consider yourself lucky.

Not even some of its members know but that’s how they really want it to be.

I’m a straight to the point, no beating around the bush kind of guy, so I’m sure you will appreciate my honesty.

Without further ado, let’s get right into things.

Table of Contents

Cash FX Group Review – Product Overview

Name: Cash FX Group

Price: $90 (minimum)

Type of Business: Revenue sharing (revshare)

Overall Rating: 1/5 stars

Cash FX Group is nothing more than a recruiting based program that will make you money by doing exactly that. This is one of thousands of programs that “mine” for you, which of course comes with no proof.

Now here’s what you need to ask yourself. Would anyone do the work for you if something was making them money? Of course not. They would invest more and make more money for themselves.

But there is more to this stuff and I will be explaining everything below. Definitely far from anything I would recommend, so do join at your own risk.

What is Cash FX Group?

Cash FX Group comes off as program that shares the revenue it brings it through the trading done in the Forex market.

Hence the “FX” in their name.

Then they throw in other things like training and understanding the Forex markets and all that

However, that is not the case as this is a program that makes its money through the investments of its members.

There is no proof of any actual trading and there are many other sites like FX Trading Corp that utilize the same claims.

Those are just two other Forex trading/member investing type sites that have come and gone, leaving its members in debt.

Cash FX Group is no different and you will see that as we move further into this review.

The Product

In any business, I don’t care what it is, there is always going to be some kind of exchange for either goods or a service.

With Cash FX Group, it’s supposed to be a service that comes in the from of trading.

Now tell me this.

If you were to make money trading, would you share it with someone else so that they can make money?

You would invest more money and make more of it.

Sure they make everything seem legit by paying out its members based on the package they purchase but that’s not a way to gauge things.

These kinds of “trading” sites that share its revenue are what us make money online people know as a “revshare”.

Not an actual revenue sharing company but one that does it in a way that is not really legit.

Back in the day, the product of choice was advertising, until they all came crashing down.

These days, they like to use crypto currency and trading.

Regardless of what “product” they choose, it is all the same thing.

How Cash FX Group Really Works

The idea is that you invest some money and the company does the trading for you.

They say you’ll make a certain percentage every month and that’s about it.

Well, that’s not really what happens.

What really happens is this.

They have people put money in and offer a nice incentive to get others to join.

In the case of Cash FX Group, this incentive comes in the form of a percentage from every person that you bring into the company.

By doing so, you can bet that everyone and their mothers will promote this thing.

When more and more people join, this allows for the revshare software to pay its members based on the package they purchased.

The system is designed to put you in profit after about 30 days, which give the company enough time to recruit more members.

As long as this process continues, you can bet that you will make money.

Once newer members stop joining, you can bet that the payments will stop as well.

This will then lead to some excuses by the owners and a bunch of pissed off members.

That’s really all there is to it and if you can understand that much, you can them make a grownup decision.

But Will Cash FX Group Pay?

They actually will.

Like I mentioned earlier, as long as there are newer members joining this program, everyone will make money.

If no one joins after you, then you of course will not make a single penny.

The thing about revshares is that the owners have no intention of taking anyone’s money.

However, there is no way that any of these types of programs will last.

So whether or not you should join or if you will make a single profit is based on everything I just mentioned.

You can join and hope that you got in at the right time or you can hold on to your money and invest it into something more reliable.

Before You Join

As much as I would love to recommend various programs to you guys, I must lay down the facts before you make a move.

I was once in your shoes before and the decision was never easy when it came to revshares.

So before you go making any crazy decisions, let me show you what you need to lookout for.

Understand these things and you should be good to go.

There Are No Guarantees

If you are thinking about joining Cash FX Group or any other revshare for that matter, please understand that there is no telling what will happen.

Just because they are paying today does not mean that they will pay tomorrow.

I’ve joined revshares in the past that stopped paying after I put in over a thousand dollars and I ended up losing it.

I knew what to expect but I took the risk anyways.

Just because you put in money does not mean you will make any in return.

No Refunds

When you decide to put money in, don’t expect to get it back.

Too many people join these types of sites using their grocery money and then want to change their mind.

Don’t be one of them.

The system is designed to distribute funds automatically and it will not stop to issue any refunds.

Think long and hard before you commit to anything.

1 Month Before You Profit

Some of you might have seen all kinds of proof of earnings and they aren’t lying either.

What you do need to understand is that those people didn’t start making money right away.

It will take at least 30 days before you even get back what you put in.

From that point on, you will get any profits owed to you.

Now if people stop joining anytime in between then, you will not make any money.

A Bigger Investment is Required

Along with waiting a pretty long time to profit, you can also expect to put in a good amount of money to make it worth it.

This is also the same reason why they have their smallest package at $300.

Any lower and you will be wasting your time.

So that 6% or whatever percentage you are expecting?

You can wait 30 days.

If making $180/month is cool with you, then by all means, invest in Cash FX Group.

This is why I mention that you really need to put a nice chunk of change in to make it worth it.

It Will Not Last

I don’t care what anyone tries to do to keep these sites afloat, it will never happen.

Some revshares have gone as long as a year but 99% of them last no longer than 3 months.

If you are willing to take the risk, just hope and pray that you at least get your initial investment back.

And if you profit, more power to you.

Just understand that Cash FX Group will not last and will eventually shutdown just like every other revshare out there.

The Price

We all know that it is not cheap to join Cash FX Group and that is probably the biggest reason as to why you are looking for reviews.

There are 10 different packs that you can choose from, with the cheapest being $300 and the highest being $100,000.

That is not a typo and I’m sure that freaked you out.

Believe it or not, there are people who put that kind of money in but they are usually those that got in early.

There are some that put in the big bucks and end up losing.

  • Academy Pack 90
  • Academy Pack 150
  • Academy Pack 300
  • Academy Pack 600
  • Academy Pack 1500
  • Academy Pack 3,000
  • Academy Pack 6,000
  • Academy Pack 9,000
  • Academy Pack 15,000
  • Academy Pack 30,000

Each pack mentioned has the same cash value as its name.

90 means $90 and yes, 30,000 means $30,000.

Each level also comes with a compensation of some sort, which rewards the person who brings in another member.

It’s somewhat complicated but I don’t feel it necessary to cover a whole lot on it.

I will cover the basics so you at least know and see why others are promoting this like crazy.

The Cash FX Group Compensation Plan

Cash FX Group doesn’t just offer an incentive for getting others to join the site but they also have it setup with a multilevel marketing type of structure.

These specific levels allow you to dip into 7 different affiliate levels from which you will earn accordingly.

There all kinds of terminology like “director”, “points volume, and all the things that come with companies like Kyani and other real MLM companies.

This is strictly in place so that people like yourself can get others to join.

Forget about trading as this is nothing but a Ponzi in disguise.

Some people could not care less but I’m not one to sugar coat things.

A spade is a spade, right?

Pros & Cons

  • Can actually make you money
  • Is recruiting based
  • No real products
  • No proof of trading
  • Makes money through new members
  • Will not last

I have the most unbiased outlook on this program and that’s because I know exactly how they work.

I’ve been apart of several in my career before finding a legit program that works, which is why I no longer promote them.

They are not sustainable and will not replace your 9-5 either.

You can make money if you get in right but please don’t let that make you think that I’m telling you that this is legit.

I wouldn’t say so as I’m sure no one is trying to steal your money.

However, you can bet that this very much falls under Ponzi scheme territory.

It is what it is and you need to make good judgment when it comes to Cash FX Group or anything similar.

My Recommendation

Join at your own risk.

Not only are these programs very risky but they are not something that you want to let others know you are involved with.

Like I mentioned over and over again, this is not a legit business and they will not last.

Just like every other revshare hyped company, Cash FX Group will soon be a thing of the past.

You will then have a bunch of unhappy campers that wish they never joined.

In the end, someone is going to lose and I’m hoping it’s not you.

Those that got in early will get rewarded, while those that get in late will foot the bill.

But you have been warned and I hope you can use some awesome judgment with this one.

Other than that, thanks for reading my Cash FX Group review.

If you are still confused with anything and have any questions, feel free to leave them in the comments section below.

As a matter of fact, go ahead and add your two cents if you feel I have left something out.

Until next time, don’t forget to be scam smart and always do your research.

About John

I hope you enjoyed that post. I’m John and I am the owner of this site. I like to think I’m a normal dude just like everyone else but that wouldn’t make me unique. I do have 4 kids and I have gone through the hardest of times, most especially financially. With some learning and growing, I have managed to get back on my feet and live the laptop lifestyle most people only dream of. With that knowledge, I hope to align you with a real and legit way to make money online.

BomanFX review you need to read before registering with the broker

Minimum deposit

Bonus

20$ welcome bonus

Maximum leverage

Year founded

Regulation

Trading platform

The reputation of this broker is doubtful!

We do not trust this broker and do not recommend it to you.

BomanFX is a Forex broker that offers cryptocurrency pairs and CFDs on different trading assets. As the broker claims it was established in 2020 and has been operating successfully since then. The company that runs BomanFX FX brokerage is Boman Inc. which is registered and regulated in Saint Vincent and the Grenadines, this information should already ring bells in your mind. However, there are more signs that the broker is not legit and might be leading some kind of scam scheme. This review shows the features and trading conditions of the broker, it also discusses the regulatory background of the company to see if BomanFX is a legit broker or a scam.

Is BomanFX legit?

Let’s start from the basics- regulations. According to the broker’s website, the company that operates BomanFX Forex broker is Boman Inc. The company is registered in Saint Vincent and the Grenadines and is regulated by the local regulator with the license number (ST: 25389 BC 2020). Thus, BomanFX is an offshore broker regulated by one of the least reputable financial authorities that easily gives licenses to the scam brokerages. As the broker claims on the website, it is registered with the NFA US with the registration number 0522575. The broker is not included in the NFA’s list of the regulated entities, hence it is possible that the broker does not really have the NFA regulation.

As the broker claims, the company was established in 2020 and until now has established three branches – in Hong-Kong, Shanghai, and Cyprus. As the license from the financial authority of Saint Vincent and the Grenadines does not allow the broker to provide with the financial services to the residents of any other country, the broker should have licenses from other regulators. However, it does not have any. Moreover, the claim that the brokerage was established in 2020 should be doubted. The domain was created in May of 2020, the SSL certificate was also acquired in 2020. Also, all BomanFX reviews you can find on the internet has been written after May. If the brokerage really had 9 years of experience it would definitely have a better internet presence.

Bomfx.com review

The website of the broker has all the problems you can think of. First of all the design looks terrible and the website can easily be listed in the list of the worst designs. It looks absolutely sketchy and spammy. The navigation is very troublesome, it is very hard to find the information you are searching for due to this reason. Most of the links on the websites are broken. For example, you cannot see the information about trading assets and instruments for this reason. The broker features social media accounts such as Facebook, Instagram, LinkedIn, and YouTube. While preparing Bomfx.com review we wanted to check those as well, but unfortunately, they are either removed or have not been there at all.

Trading conditions with BomanFX

The trading conditions with BomanFX is not impressive either. The broker offers currency and CFDs trading but one cannot check what instruments are offered by the broker, because there is no information about them. The minimum deposit that is required to open an account with BomanFX is 100 USD. It is an avarage minimum deposit, considering that some of the brokers require 500 USD, but at the same time, there are international reliable brokers that make it possible to open an account for 5 USD.

Traders can trade with the leverage up to 1:200, as for the spreads as it seems the information on the website is not reliable. On the front page of the website the broker claims to have the lowest spreads from 0.9 pips. On the account comparison, it also states that the spreads are from 0.9 to 2.1 pips. However, on the page dedicated to the spreads, it is shown that spread for EUR: USD currency pair is 11 pips which is significantly higher than 2.1 or than spreads that one can see with any other broker. Spreads really lower BomonFX rating, considering that they are even higher for other currency pairs.

BomanFX withdrawal policy

The withdrawal policy is not displayed on the website, but can be seen on the page of the legal documents. The document for deposit and withdrawal policy is written so that you can hardly get a sense of it. The only payment methods that can be used with BomanFX is credit/debit cards and bank wire transfers which is very bad, as many people prefer using electronic payment systems that are faster and more convenient to use. According to the documents it takes five business days to deposit funds. That’s a lot of time, especially when other brokers have simultaneous deposits.

As for the BomanFX withdrawal conditions, they are not any better than conditions for depositing funds. It takes 5-7 business days for the broker to process withdrawal requests! It means that you might have to wait more than a week to get confirmation from withdrawals. After that, you will have to wait for the transactions that might take even more time. As it seems, there are commissions for withdrawal, however, the broker does not provide information about them as you can see below. Overall, the broker has one of the worst withdrawal conditions I have ever seen with the Forex brokerages.

Account types

The broker offers three types of accounts Micro, Standard, and VIP accounts. The trading conditions are absolutely the same for these three accounts. There are two main differences only – the minimum deposit requirement and spreads. The minimum deposit requirement for the micro account is 100 USD, for standard 1000 USD, and for the VIP account 5000. The spreads for the micro account is between 1.9 – 2.1 pips, for the standard account 1.5 – 1.7 pips, and for the VIP account 0.9-1.1 pips. However, as mentioned above, the spreads showcased on the website is much higher than this, so it makes a little sense.

BomanFX opinion

BomanFX is one of the brokers you need to stay away from. It is an offshore broker that claims to have NFA regulations. It also claims to have 9 years of experience that does not seem to be right. There are a lot of signs that indicate that BomanFX scam might be possible. Even if the broker was fully regulated it has a very poorly designed services and offerings. A lot of information that is provided on the website is either false or misleading. Trading conditions are not fully described and it is unknown what situation will the trader face after opening an account with BomanFX. Overall, our final verdict is that the broker is not legit. If you were thinking about registering with the broker, it would be better if you continue searching for a good broker that is regulated and offers high-quality services.

The reputation of this broker is doubtful!

We do not trust this broker and do not recommend it to you.

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