finenom.com Review Is Finenom Inc Scam or Legit Investment

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HSBC Hong Kong investment units fined $450,000 for regulatory breaches

HONG KONG (Reuters) – Hong Kong’s markets regulator fined two HSBC (L: HSBA ) (HK: 0005 ) units HK$3.5 million (about $450,000) on Tuesday for regulatory breaches when placing money in HSBC bank accounts.

The Securities and Futures Commission (SFC) said that some of the 53 funds managed by HSBC Investment Funds (Hong Kong) Limited and HSBC Global Asset Management (Hong Kong) had placed cash deposits with HSBC’s banking operations.

While these deposits were placed in interest-bearing accounts, most did not receive any interest.

The SFC said that the two units had failed to ensure that the cash had earned interest at a rate equal to or higher than the prevailing commercial rate, as they are required to do when placing assets with a “connected person”.

They had also failed to minimize the conflicting interests of the Funds’ investors and the Hong Kong Shanghai Banking Corporation.

HSBC said in a statement that HSBC Investment Funds (Hong Kong) and HSBC Global Asset Management (Hong Kong) had “strengthened internal controls, procedures and practices for managing cash deposits”.

The investment managers had also agreed to make a voluntary payment of US$433,257 to the affected funds representing the financial impact arising from their failures, and engage an independent review into its internal systems and controls, the SFC statement said.

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Forcount Review – Legit or Scam? Compensation Plan Breakdown

One of the questions that we need to look into is if the Forcount opportunity a scam?

We are going to cover the details about the company and the owner, the compensation plan, and the products to learn if the opportunity is a legitimate program that will last.

We wouldn’t want to join an opportunity just to learn later on that it is a scam and the program either gets shut down and you stop getting paid.

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We would have wasted for a ton of time and money that we invested in building it to try to earn money.

By the end of this review, we will give you the answer you are looking for after analyzing all of the information so you can make a decision yourself.

With that said, let’s dive down and get started.

Table of Contents

What Products Do Forcount Offer?

In this section of the review, we are going to cover information about the Forcount products.

When taking a look at the company website, Forcount does not have any products or services for retail sale, but you can promote the opportunity as an affiliate member.

We haven’t determined if they would need retail products for sale at this time yet.

Here is the thing, if we determine if Forcount is structured in an MLM business design then they would need to have this in place to be in compliance.

There is not much more to talk about when it concerns Forcount products.

There are no digital or physical products that I can find either.

With that said, there will be no sales figures posted on how successful the company is doing.

The only thing that you can do in Forcount is to join the affiliate membership opportunity that you can earn commissions with.

When it comes to MLM opportunities, the ability to earn income with the compensation plan is not new, but if we find out that Forcount is an MLM company then having no retail product is a common red flag sign that is a sign that the program is a scam.

We will learn more about this in the compensation plan section below.

The Forcount Company Overview

In this section of the review, we are going to take a look at information on the Forcount company.

When looking at a company it is always a positive sign when a company owner discloses who runs it on the company website.

Unfortunately, Forcount has no information on who manages or owns the company on any of the company website pages.

Update: Francis Silva was named as the owner of the company, which seems to be confirmed in some of the social media Forcount marketing outlets.

Here is an image of the owner:

I decided to check out information on the domain of the Forcount website and here is what was found:

The domain name “forcount.com” was registered on 7-7-2020.

The domain name was privately registered.

Since the domain name was registered privately this is all the information that was found when doing a domain name lookup.

It seems like Francis also owns another company called Cointreau which is determined to be a Ponzi Scheme.

Forcount could be the second attempt of putting together a legitimate company, but what it is looking like is just another attempt to take more money from unsuspecting people.

With that said, that is all I have on the company information, let’s move on to the next section.

Forcount Backoffice Video

Here is a video that was created by one of the affiliate members.

This video is totally biased that was made by the affiliate who recorded the video but it does show what the back-office looks like.

How Does The Forcount Compensation Plan Work?

In this section of the review, we are going to take a look at the compensation plan details.

The Forcount opportunity is structured in an MLM binary compensation plan structure when it comes to the residual commissions.

For those that don’t understand how a binary compensation plan structure works here is a quick breakdown:

  • You only have 2 legs (right and left)
  • Unlimited depth on each leg.
  • You get paid by the leg that has lesser sales volume when the commissions run.
  • You have to have a personally referred member on each leg at all times.
  • Each leg grows in depth through direct and indirect sponsorships.

Residual Commissions

The way that Forcount pays the residual commissions is through the binary which they tally all the sales volume from each leg every day and pays out on the lesser volume leg.

The percentage of the amount that is tallied will depend on what package level that you joined it.

At the end of each day, Forcount sums up all the volume on both legs and pays you on the lesser leg.

The amount you can earn will depend on how much you invested as shown below:

ETH

  • Invest 0, 25 ETH and receive 5% residual commission
  • Invest 0.5 to 1 ETH and receive 8% residual commission
  • Invest 2 ETH and receive 9% residual commission rate
  • Invest 5 ETH and receive 10% residual commission
  • Invest 10 ETH and receive 11% residual commission
  • Invest 10 to 30 ETH and receive 12% residual commission
  • Invest 50 ETH and receive 13% remaining commission
  • Invest 100 ETH and receive to 15% residual commission

LTC

  • Invest 0.25 LTC and receive 5% residual commission
  • Invest 0.5 to 1 LTC and receive a residual commission of 8%
  • Invest 2 LTC and receive a 9% residual commission
  • Invest 5 LTC and receive a 10% residual commission
  • Invest 10 LTC and receive a residual commission of 11% installments
  • Invest 20 to 40 LTC and receive 12% remaining commission
  • Invest 50 LTC and receive a residual commission of 13%
  • Invest 100 LTC and receive a residual commission of 15%
  • Invest 300 LTC and receive a residual commission of 16%
  • Invest 500 LTC and receive a 17% residual commission rate

Sponsorship fees

All sponsorship fees are paid through the unilevel compensation plan structure.

Basically, there are 15 levels in this unilevel and the rules are when an affiliate pays $ 25 a month, you can get $ 1 for them.

If an affiliate pays $ 50 a month, you can get $ 2.

Rank Bonus

Forcount gives you a bonus every time an affiliate hits a new rank as shown below:

  • Sapphire Rank Bonus – Generates 50 ETH and/or LTC investments through your binary team, receive $ 200 bonus
  • Ruby Rank Bonus – Generate150 ETH and/or LTC investment through your binary team and recruit at least two Sapphires to receive $ 500 bonus
  • Emerald Rank Bonus – Generate 500 ETH and/or LTC invest and your team at least two Ruby, get laptops MacBook Pro
  • Diamond Rank Bonus – Generate 2000 ETH and/or LTC through your binary team and recruit at least two Sapphires, get a trip paid entirely in Greece
  • Golden Diamond Rank Bonus – Generate 5000 ETH and/or LTC investments across your binary team and recruit at least two Diamonds, receive a trip for all expenses in Dubai
  • Platinum Diamond Rank Bonus – Generate 20,000 ETH and/or LTC through your binary team and recruit to al minus a diamond, get a Rolex watch
  • Blue Diamond Rank Bonus – generate 50,000 ETH and/or LTC investments in your binary team and recruit at least one Diamond Platinum, receive a Ferrari or $ 200,000
  • Black Diamond Rank Bonus – Generate 100,000 ETH and/or LTC investment across your binary team and recruit at least two Platinum Diamonds, receive a villa or $ 500,000

That’s all I have for the compensation plan details and how you can make money with it, let’s move on to the next section.

Forcount Q and A Section

In this section of the review, we are going to answer some of the questions that people may have when thinking about joining the Forcount opportunity.

Is Forcount BBB Accredited?

No, Forcount is not accredited with the Better Business Bureau.

I do not usually take into consideration for when the BBB has a rating for a company to be considered a scam when it does offer some kind of accreditation just because they have been known to be susceptible to manipulation by 3rd party companies.

However, I do refer to the BBB for additional company information and to just take a look at what reviews and testimonials they offer.

What’s The Cost To Join Forcount?

The Forcount subscription is linked to a minimum investment of 0 .1 in ETH or LTC.

To be part of the MLM plan, you must enter at least 0.25 LTC or ETH.

There is a monthly fee of $ 25 or $ 50 that can be applied.

In the next section of this review will cover what many of you have been waiting for which is…

Is Forcount A Scam or Legitimate Opportunity?

When determining any company or program to be a scam their needs to be some type of products that are associated with it.

Whether having physical products or digital, the company or program must have products available.

So with that said, unless I am missing something I would determine this company to be a scam or Ponzi scheme.

My Final Forcount Review and Thoughts

In this final section of the review, I am going to share my final thoughts on the Forcount opportunity.

We have taken the time to review the details about the company, the products, and the compensation plan.

We have also shared our thoughts on why we feel that this company is not so legit and why.

At this point, you should have a really good idea about what Forcount is, how it works, how you make money with it, and if you feel if it is right for you.

The bottom line is that there are a lot of red flags after going over all the research that I’ve found with Forcount.

If Forcount was really generating a great ROI through trading which is totally fine, but the problem is…

Where is the proof?

The company claims they have over 20 cryptocurrencies that they are trading but they have no documentation to show the stability or steady profit that one can be comfortable with if they wish to invest.

For the new person just starting out that has no idea on what to look for when they are being sold by this type of opportunity, I can see why people can be pulled in.

Since they provide no evidence of this, just like many others in this niche, it makes the opportunity look just like a Ponzi Scheme and that is exactly why many of these programs get shut down after a period of time.

If you would ask me if I would join or recommend the Forcount opportunity?

I would have to say no, I personally would not.

With that said, we are adults that have the ability to make our own decision, but now that you have all the information about Forcount, you can make a decision based on facts and not hype.

Before you leave, go ahead and help others know what Forcount is all about by clicking on the social share buttons on this page to share this information with others so that others can know what this program is all about just in case they want to get involved.

Thank you for taking the time reading my Forcount review.

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