Welcome to my "What Is EmGoldex?" review!
Whether you are a new or veteran precious metals investor, it is crucial to always investigate first the various precious metals companies you are considering to invest with.
To those who did not know, most precious metals companies process and structure is pretty much the simple selling process.
However, Emgoldex is quite different as it follows a multi-level marketing structure. What is it? What is Emgoldex?
Well, you are about to find out in this Emgoldex Review!
EmGoldex Review Quick Summary
What is Emgoldex?
Let's start off this Emgoldex review by answering the most common question about it, "What is Emgoldex?"
Emgoldex is a multi-level marketing company that claims to sell gold. However, instead of doing so, it focuses more on recruiting investors.
Unfortunately, unlike other precious metals companies, Emgoldex follows a pyramid scheme. Most of the time, clients may nto benefit much from it.
But wait. Hold up. Yes I know that I said at first that Emgoldex is a multi-level marketing company. But why did I say that it is a pyramid scheme? What is the difference?
MLM vs. Pyramid Scheme
In simple terms, according to the South Dakota Consumer Protection, multi-level marketing (MLM), also known as network marketing, is a strategy that requires its members to sell products to the public in exchange for a commission.
Apart from that, they will also get commission for the sales that their recruits make. This is a legit structure.
Pyramid scheme on the other hand is a fraudulent scheme that is disguised as an MLM. Basically, it claims to possess products that its members can sell.
However, there are two main things that can define a pyramid scheme. First, there is no actual product to be sold. Second, it encourages its members to recruit people more than selling.
Most of the time, pyramid schemes promise high returns in a short period of time for doing nothing other than just handing them over your money and recruiting other to do the same.
This is a very unsustainable structure and the only ones who will get to benefit are the ones at the top of the pyramid scheme. In other words, the owners of the pyramid scheme.
But which one is Emgoldex? You will find out later on in this review.
Emgoldex claims that they sell gold. In fact, that is supposed to be their specialty. Moreover, the company's activity is controlled using Seychelles.
Unfortunately, there are no reliable information regarding its sales on gold. It seems that the company only exists exclusively due to the contributions of investors.
The company does not hold much gold. However, they do have a small stockpile in the United Arab Emirates.
It is all a trick. Emgoldex convinces its members that there is a product that is worth selling for. Furthermore, the company always tell the members that they make money by recruiting other people to become members of Emgoldex.
Also, there is a training process. However, it does not teach the members anything about the precious metals market. Instead, they will teach you ways to entice investors and invite new members!
In simple words, there are no products or programs that are worth your time and money with this company!
Instead, you can use your money to invest in legit companies. If you don't want to waste any time, you can always check out the top rated and recommended company in the industry today.
Emgoldex Red Flags
Below is an outlined red flags of Emgoldex.
- Selling products is close to impossible. You need to recruit people to earn money.
- You are only eligible to earn money once you have recruited two people.
- Emgoldex has been banned in the Philippines due to its pyramid scheme structure.
- In Massachusetts, charges were filed against Emgoldex because of civil fraud. The company told lies regarding the investment opportunities they were offering.
- Emgoldex heavily relies on the investors for money rather than selling gold.
Apart from this, there are breakdowns in various scam watch websites on Emgoldex. Due to the fact that the company is based in Dubai, Emgoldex is not subject to the same market regulations that is in the U.S. and Canada.
In other words, because of the unregulated setup, there is no way of telling what they will do with your money and investments.
One tip I have for you is to always check if there are membership fees that a certain company will charge you. Legit precious metal companies do not charge any membership fees.
Moreover, the prices of the precious metals always get updated every hour.
If you are after MLM companies, precious metals is not a good niche for it. It will be very challenging for you to sell gold and earn money.
With this, I highly encourage you to find a reputable company with an outstanding record, ratings and reviews, just like Augusta Precious Metals.
Pros and Cons
- None because it is impossible for you to earn money from this company.
- Pyramid scheme structure
- Charged with various complaints such as civil fraud
- Banned in a lot countries such as the Philippines
- Does not have any products for you to sell
- Tells lies on what it does
Is Emgoldex a scam?
To conclude this "What is Emgoldex?" review, let me answer this question, "Is Emgoldex a scam?"
Yes it is. Unfortunately, the company operates in a pyramid scheme and practices deceptive tactics, lying about their opportunities. If that is not enough, Emgoldex is already banned in a lot of countries and have a lot of charges filed against them.
That is already clear that you cannot trust Emgoldex and that you should invest in other companies like Augusta Precious Metals, which is the best precious metals company today.
Also, take note that Emgoldex changed their name to Global Intergold. Chances are, they still operate the same way, thus you can't trust them.
Thank you so much for reading my "What is Emgoldex?" review! If you have any comments or questions, feel free to leave them below.