- in Not Approved by Caroline So
Is Forcount A Scam? Rehash Of Another Infamous Ponzi CryptoMLM Cointherum?!
Welcome to my Forcount Review!
In this review, we will talk about another crypto opportunity that claims to give a good return on investment. Well, we’ve already discussed more than a dozen similar companies, such as Cryptotab and GoMiner.
Unfortunately, the majority of these companies turn out as scams so the question is, would Forcount be any different?
Forcount Review Summary
Founders: Francis Silva
Product Type: Multi-Level Marketing
Price: 0.1 ETH ($60) Or 0.1 LTC ($8) + $25 Or $50 Every Month
Quick Summary: Forcount is a multi-level marketing company that comes with a cryptocurrency investment scheme and utilizes Ethereum and Litecoin for investment. It provides an opportunity to make money from their promise of a daily 0.01% to 3% ROI.
Apparently, Forcount appears to have ties with the Cointherum Ponzi scheme. Forcount claims to generate external ROI through cryptocurrency trading. However, there’s no evidence that trading is taking place, or are there any other external source of ROI revenue.
Overall Rating: 1/10
Is there a real earning opportunity offered or is Forcount just another scam?
It would be great to join an opportunity that has great ROI promises but then again, promises can be deceiving. So better investigate first thoroughly because there are indeed a lot of scams out there waiting to devour your money.
So to avoid such, one of the best things to learn more about the brand and that’s what we’re going to do in this honest Forcount review.
What Is Forcount About?
Forcount is a cryptocurrency investment platform that comes with an offer of a huge return on investment. You simply have to join and invest using cryptocurrencies, such as Ethereum (ETH) and LiteCoin (LTC), and in return, Forcount promises an ROI.
Being built on an MLM business model, affiliates can earn commissions that are based on recruitment and building a team in Forcount’s opportunity.
In Forcount’s domain, there was no information about who owns or runs the company but a few research would reveal Francis Silva as the owner. This was somewhat confirmed in some of the social media Forcount marketing outlets.
Francis somehow made a name in cryptocurrency but it’s not really a good one. A source suggests that he has launched various Ponzi schemes other than Fourcount.
Meanwhile, it is reported that Forcount is a rehash of another Ponzi CryptoMLM -- Cointherum, in which Francis Silva was also named as owner.
Also, Silva launched Forcount right after Cointherum collapsed.
The Forcount website domain “forcount.com” was privately registered on July 7, 2017, and it now appears to be expired.
At the time of this writing, I can’t access the website. What happened? Could Forcount have shut down just like what happened to its predecessor Cointherum? Well, most probably!
Forcount Product Line
Forcount is one of those cryptoMLMs who don’t have retailable products or services and what is offered here is the promise of ROI through investments made. But then again, it’s more likely that the Forcount affiliates are marketing the affiliate membership itself.
Is Forcount A Scam?
Apparently, all the details that we’ve collected points to Forcount as a scam!
From not being transparent about its owners and having no other source of income.
There are no products to sell and earn from and this means that you will solely be dependent on the investment of recruited affiliates. This makes it more like a pyramid and also a Ponzi scheme.
Considering its predecessor, Cointherum, which is a Ponzi Scheme, there’s no doubt that Forcount will turn into another scam.
It doesn’t have a record with the Better Bureau Business (BBB) plus, its website appears to have expired.
Is Forcount A Pyramid Scheme/Ponzi Scheme?
It appears that making money in Forcount is based on recruitment because of the ever-increasing number of investors. There are no retail products to sell and the only thing that affiliates promote is the membership itself.
Considering this, Forcount works like a pyramid scheme and this is illegal in almost every business regulating area. It’s also not sustainable and is bound to close anytime, especially when the recruitment stops.
Often, those in the higher tier of the pyramid are the only ones gaining most of the money but those in the lower tier end up losing it all especially if there’s no more to recruit.
It’s also a Ponzi scheme as it deceives affiliates about the true source of the revenue. They may claim there’s trading going on but there’s no proof for it.
To learn more about how a Ponzi scheme works, you can watch the video below:
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Forcount Compensation Plan
Forcount affiliates invest in the promise of a daily 0.01% to 3% ROI.
A 5% direct referral commission is paid to affiliates who invest 0.25 LTC or ETH. This increases to 10% if 20 LTC or ETH is invested.
Residual Commissions - Forcount pay its affiliates with residual commissions via a binary compensation structure.
- This is a quick and simple breakdown of how a binary compensation plan structure works:
- 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.
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:
- Invest 0.25 Eth And Receive A 5% Residual Commission Rate
- Invest 0.5 To 1 Eth And Receive An 8% Residual Commission Rate
- Invest 2 Eth And Receive A 9% Residual Commission Rate
- Invest 5 Eth And Receive A 10% Residual Commission Rate
- Invest 10 Eth And Receive An 11% Residual Commission Rate
- Invest 10 To 30 Eth And Receive A 12% Residual Commission Rate
- Invest 50 Eth And Receive A 13% Residual Commission Rate
- Invest 100 Eth And Receive A 15% Residual Commission Rate
- Invest 0.25 Ltc And Receive A 5% Residual Commission Rate
- Invest 0.5 To 1 Ltc And Receive An 8% Residual Commission Rate
- Invest 2 Ltc And Receive A 9% Residual Commission Rate
- Invest 5 Ltc And Receive A 10% Residual Commission Rate
- Invest 10 Ltc And Receive An 11% Residual Commission Rate
- Invest 20 To 40 Ltc And Receive A 12% Residual Commission Rate
- Invest 50 Ltc And Receive A 13% Residual Commission Rate
- Invest 100 Ltc And Receive A 15% Residual Commission Rate
- Invest 300 Ltc And Receive A 16% Residual Commission Rate
- Invest 500 Ltc And Receive A 17% Residual Commission Rate
Recruitment Commissions - Each Forcount affiliate with an active investment pays a monthly fee. Affiliates who invest up to 2 ETH or LTC pay a $25 monthly fee (excludes 0.1 ETH plan).
Affiliates who invest 5 or more ETH or LTC pay a $50 monthly fee. Note that monthly fees for LTC investment are not provided. Recruitment commissions, however, are paid out via a unilevel compensation structure.
Rank Achievement Bonus - Just like most MLMs, Forcount comes with affiliate ranks. It rewards affiliates who encourage others to invest with the following Rank Achievement Bonuses:
- Sapphire – Generate 50 ETH and/or LTC investment across your binary team, receive a $200 bonus
- Ruby – Generate 150 ETH and/or LTC investment across your binary team and recruit at least two Sapphires, receive a $500 bonus
- Emerald – Generate 500 ETH and/or LTC investment across your binary team and recruit at least two Rubies, receive Macbook Pro laptop
- Diamond – Generate 2000 ETH and/or LTC investment across your binary team and recruit at least two Sapphires, receive an all-expenses paid trip to Greece
- Golden Diamond – Generate 5000 ETH and/or LTC investment across your binary team and recruit at least two Diamonds, receive an all-expenses trip to Dubai
- Platinum Diamond – Generate 20,000 ETH and/or LTC investment across your binary team and recruit at least one Diamond, receive a Rolex watch
- Blue Diamond – Generate 50,000 ETH and/or LTC investment across your binary team and recruit at least one Platinum Diamond, receive a Ferrari car or $200,000
- Black Diamond – Generate 100,000 ETH and/or LTC investment across your binary team and recruit at least two Platinum Diamonds, receive a mansion or $500,000
How Much To Join Forcount?
The Forcount subscription or affiliate membership is bound to a minimum investment of 0.1 in ETH or LTC and that is about $60 for Ethereum and $8 for LiteCoin plus a monthly fee of $25 or $50. However, to be part of the MLM plan, one must invest at least 0.25 LTC or ETH which is about $120 for ETH and $21 for LTC.
Honestly, there’s nothing really to like about this opportunity. After knowing it’s a ponzi scheme and a pyramid scheme which is clearly fraudulent, would you continue to join such an opportunity which is a SCAM?
As always, if an MLM company does not openly disclose who is running or owns it, think long and hard about joining.
As with Forcount, it is not transparent about its founder or owner and what we’ve found were all from third-party research. If it’s a legitimate opportunity, they could have openly disclosed their founders unless they are doing something fraudulent which is indeed possible in this opportunity!
Reboot Of A Ponzi Scheme
As mentioned, Forcount is a rehash of the Ponzi CryptoMLM Cointherum which is confirmed as the owner is also the same person by the name of Francis Silva.
I believe such a record is already a red flag because there’s a possibility that the same schemes will happen again.
There are no retail products and the only thing they are selling is membership. It's more like a Ponzi scheme than a legal networking company.
It promises high returns but doesn’t be deceived as it’s all part of the hidden agenda to scam people!
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I haven’t seen much information with regards to Forcount’s training and support as the website is even inaccessible as of the moment. However, I’ve seen YouTube videos showing Forcount’s back office. So, just like most crypto MLM, affiliates will be enabled access to the company’s back office.
Forcount may come with a promised daily ROI and luring you with all the perks and bonuses as you recruit more people and level up your rank but don’t be deceived.
Behind that marketing, pitch is a crypto scam in disguise!
Running an MLM structured business model with no retail products is indeed fraudulent and Forcount is definitely a scam! It’s not even a legit network marketing company in the first place.
Just like its predecessor, which is also a Ponzi Scheme, it’s bound to collapse. Perhaps, they have already shut down since its website is now inaccessible.
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Thank you for reading our Forcount review.
I hope this has been helpful. If you have questions or comments, please feel free to share them below.