30 June 2015

[Review] Is GoldXtreme Legit Or Scam?

If you are a student, a self-employed, an OFW, or an individual who had difficulties and struggles about financial.  Then, this might help you. However, please take note that, I didn't want you to persuade on joining any investment unless properly researched and has proven legally.
Indeed, at the end of the day, you are still the one who decides — the Final Say.

Probably you are searching answers about GoldXtreme and came up here. 


This post is merely to evaluate things at hand. With that notion, I will just share information about this new investment whether you will join or not, then it is up to you.

My objective here is to share related information about GoldXtreme. And by the end of this post, you will know, determine, and conclude what GoldXtreme really is.

Note: I don't say it is scam or legit. But there are some clues here.




What is GoldXTreme?
If you happen to visit their website, you will see "Lack" of information about its gold investment. Even with some important links, you can't find one. However, in their temporary website, I found one good definition.

GOLDXTREME is a FULL Registered company in the Philippines which only ENGAGE and RETAIL Gold Jewelry Products and Eload Dealership.
  • includes but not limited to fashion accessories, prepaid cards, loads, and other related products(?).
Yes, SEC Registered, as shown below:


Critical question: Is having SEC registration certificate ensures the members not to be scammed?

There is no assurance, even if a company has a SEC Certificate of Registration, it does not really mean, it cannot cheat or scam members.

Example of those SEC registered companies that were scammers:
  •  First Quadrant, Franc-Swiss Investment, Aman Futures, NBO-Global
Why Invest in Gold by the way?
Gold should be an important part of a diversified investment portfolio because its price increases in response to events that cause the value of paper investments, such as stocks and bonds, to decline. Although the price of gold can be volatile in the short term, it has always maintained its value over the long term.


How It Really Works?


GOLDXTREME has a marketing plan.

Table Of Orders
Agreement:
reward bonus in the form of gold bar or equivalent to cash 25,000 pesos
load dealership, sim card activation only, value added services

COMPENSATION PLAN:
  • Pay In : 5,000 pesos
  • Pay Out : Gold Pendant or 25,000 pesos
  • Direct Referral / Invite : 500 Pesos
  • Unlimited Direct Referrals
  • Unlimited Accounts
  • Unlimited Names
  • Unlimited 25,000 Pesos
HOW THE MARKETING PLAN WORKS ?

Each new member will be placed on a table of orders (Jewelry/Load Delearship)
  • Level 4 : 8 Slots
  • Level 3 : 4 Slots
  • Level 2: 2 Slots
  • Level 1: You
Main Goal :To complete the table of orders 

Once completed "you" will receive 25,000 bonus or gold bar
the system has 2 table of orders
  • 1st Table Exit : 25,000 pesos
  • 2nd Table Of Exit : 25,000 pesos
once you exit on the 1st table , you will directly connected to left side of slot 4 on level 4 the account that will go down will be your "free account" the system will then give you a new username and password that can be found on your 1st account once your "free account" also exited on the 2nd table of order "you" again will receive additional 25,000 pesos. 

Note: Less 10% tax on your Payout.

How to Register with GOLDXTREME
It may be an easy one, but I find it a lil bit hard.
First, you need to deposit P5000.00 (membership fee) directly to the company's CEO, Rommell Tan.

After that, you need to send image your deposit slip with attached application form.
Then, it will verify your payment within 24 hours. If things go better, then it will send a codes to your new account.

See? a bit hard eh?

SEC ADVISORY

On June 4, SEC has issued an advisory that GoldXtreme, though registered, is NOT AUTHORIZED to SOLICIT Investments from the PUBLIC. If you remember in their compensation plan, it has a direct referrals and invites.
GOLDXTREME ISSUED A REPLY ABOUT THE SEC ADVISORY DATED 04 JUNE 2015

In an official statement made by GOLDXTREME, the company accepted that it is NOT really AUTHORIZED to SOLICIT Investments. However, they made it clear that every company has its own MARKETING STRATEGY to BOOST their product sales.

With GOLDXTREME, it has developed and introduced its UNIQUE program called  "SWAP PROGRAM" and  there is no KNOWN government agency to REQUIRE for that said program.

The company also claimed that its SWAP PROGRAM will NOT make the Company UNSTABLE and does not give any ASSURANCE/GUARANTEE to get Gold Reward.
GOLDXTREME’s SWAP PROGRAM does not in any way will make the company unstable. SWAP PROGRAM is a UNIQUE MARKETING STRATEGY  that benefits the company and its customers unlike other marketing strategy that only benefits the company. We encourage other entities to not judge goldxtreme by its cover but to analyze the content of SWAP PROGRAM

Now, in a post made by thephillipinepride, it is stated that the term SWAP PROGRAM is  merely the new word for RECRUITING.

They questioned GOLDXTREME if what's being swapped? They answered NOTHING.

Here's a good, quick way to determine whether it is legitimate or not.


Image: Korenoy



1. Is there a product?
2. Are commissions paid on sale of products and not on registration/entry fees?
3. Is the intent to sell a product not a position?
4. Is there no direct correlation between the number of recruits and compensation?
5. If recruitment were to be stopped today, will the participants still make money?
6. Is there a reasonable product return policy?
7. Do products have fair market value?
8. Is there a compelling reason to buy?
If the answer to all the questions is YES, then the company being evaluated is a legitimate company. But if the answer is NO, then there is a high probability that it is a pyramid scam.
But indeed, its a good read too: http://www.directselling411.com/for-sellers/myths-facts/

Warning from SEC and DTI:




Now, if you are victim of these scam companies, you can file a case: Steps in Filing Complaints Against Scams PH

Now, what are your conclusion about GOLDXTREME?

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