In this post, we will cover an unbiased review of this cryptocurrency-based MLM company Success Factory and uncover some bitter truths about whether it s legit or a DagCoin Ponzi scam.
Let us have a look.
About Success Factory
Nils Grossberg (CEO) & Kris Ress (CVO) founded the MLM company Success Factory in 2007.
Success Factory’s partner companies are Dagcoin (Cryptocurrency), skillex.com (Personal development platform), and DagPay (Digital payments platform).
Nils Grossberg is also the founder of Dagcoin and promotes Dagcoin via Success Factory. This MLM company is considered the marketing arm of Dagcoin.
|Company Name||Success Factory|
|Founders||Nils Grossberg and Kris Ress|
|Type||Cryptocurrency based MLM|
|Website Domain Registered||successfactory.com (13th Oct 1998)|
Dagcoin.org (20th April 2017)
|Highest traffic to the website (successfactory.com) is from||Ghana (32.61%)|
Saudi Arabia (19.52%)
|Compensation Plan||Latest Plan PDF|
|Scam Possibility Level |
(High/ Medium/ Low)
Read: Zeniq Coin Honest Review: TERRIBLE SCAM
Joining Success Factory
To join Success Factory, one has to register on successfactory.com.
After registering, One has to simply pay a fee of 25 Euro annually for getting site hosting, and also can refer a new member.
Registered members also need to buy products from Success Factory.
Read: Faberlic Compensation Plan 2022 – PDF Download
Success Factory Products
Success Factory offers mainly 2 types of products to their members such as.
Success Factory affirms that Forex Insiders make forex trading simple and beneficial, for novices and specialists as well.
The company likewise says that Forex Insiders give you access to information that is examined by artificial intelligence and market-driving experts.
Forex Insiders cost 49.00 Euro per month.
It is likewise referenced that on average you’ll get only one idea each day that has been carefully chosen by the calculation and moreover examined by top industry analysts.
Success Factory claims that its The View is a virtual stage where you can do all the genuine stuff in the virtual world.
One needs to pick between four different kinds of memberships. One can also buy various memberships at the same time.
- BASIC (125 Euro)
- STANDARD (250 Euro)
- SUPER (500 Euro)
- ULTRA (1000 Euro)
Read: Faberlic Review: Legit or MLM Scam
Overall Success Factory seems a lucrative investment opportunity to invest but there is a list of reasons which simply imply that Success Factory is a DagCoin Ponzi scam.
Let’s see how.
Success Factory’s founder Nils Grossberg has stayed the top promoter of the 4 Billion Ponzi scam OneCoin.
OneCoin raised itself as a cryptocurrency and permitted members to earn referral commissions. Within a couple of years, it got popularized and many millions of individuals become part of it.
At the end, in November 2019 the OneCoin trick got found out by government regulators and prime supporter Konstantin Ignatov was condemned to prison for 90 years.
From that point, government organizations of various nations including India, Thailand, and the UK are making strict action against top advertisers of OneCoin.
In such cases, people at the top of the pyramid make money, hence they promote such MLM, and behind them many large populations face trouble.
All of the products of Success Factory are worthless because here members need to pay hundreds of euros per month just for The View or Forex Insiders.
This company is not a financial authorized organization, hence the forex tips from them can bring you trouble.
Paying a subscription fee for The View is completely useless because anyone can get these services for free or at a very low price. Success factory is just selling garbage products to their members. Its members also know it very well they are just mad behind a few euro commissions.
within a short span, Success Factory received warnings or was added to the alert list by authorities of different countries.
- On 31st August, the Central Bank of Russia declared that Success Factory was a pyramid scheme.
- On 6th October, the Central Bank of Oman alerted its citizens about the use and trading of DagCoin.
Oman’s financial regulators also mentioned that it’s not authorized by any entities to run such schemes.
Other than this, there are more red flags that put Success Factory under suspicion.
Read: Beachbody Review
Is DagCoin a Ponzi Scam?
DagCoin is a Ponzi scheme because it doesn’t really have anything to offer besides the investment in DagCoin.
The first trait of every Ponzi scheme is they want people to invest more and DagCoin is none different from this.
Moreover, DagCoin wants you to bring new people into the scheme, according to its compensation plan recruitment is the only way to earn commissions and this is the biggest sign of any Ponzi Scheme.
DagCoin isn’t listed on any of the well-known digital cryptocurrency exchange platforms. So nobody will invest in it.
Like OneCoin, soon DagCoin will also collapse with its subsidiaries Success Factory.
Read: What is Direct Selling? Why it is NOT Profitable Anymore
Success Factory Affiliates Ranks
The requirements of every rank are given in below table but before that, we will understand some important terms which are used in the table:
- W/T is the total required purchase volume in the weaker team.
- T/T is the total required purchase volume from the whole downline.
- Required Member shows the need for the number of qualified members in the downline.
|Topaz||8,000 Euro||20,000 Euro||2 Gold|
|Sapphire||16,000 Euro||40,000 Euro||2 Platinum|
|Ruby||24,000 Euro||60,000 Euro||2 Topaz|
|Emerald||32,000 Euro||80,000 Euro||2 Sapphire|
|Diamond||100,000 Euro||300,000 Euro||2 Emerald|
|Blue Diamond||250,000 Euro||750,000 Euro||2 Diamond|
|Black Diamond||500,000 Euro||1,500,000 Euro||2 Blue Diamond|
|Crown Diamond||1,000,000 Euro||3,000,000 Euro||2 Black Diamond|
|Ambassador||2,500,000 Euro||10,000,000 Euro||2 Crown Diamond|
|Royal Ambassador||5,000,000 Euro||20,000,000 Euro||2 Ambassador|
|Crown Ambassador||10,000,000 Euro||40,000,000 Euro||2 Royal Ambassador|
Read: Life Activated Brands Review
Success Factory Compensation Plan
The incomes in the Success Factory compensation plan are as follows:
- Customer Acquisition Bonus
- Volume Bonus
- Leadership Bonus
- Rank Awards
1. Customer Acquisition Bonus
Customer Acquisition Bonus pays a 10% bonus to their affiliates on their personal sales.
2. Volume Bonus
Volume Bonus pays 10% over the weaker leg.
For instance, if someone referred two members one in the right leg and one in the left leg. The left member did a purchase of 8000 Euro with the whole team and the right member did a business of 10000 Euro.
The left leg with 8000 Euro is your weaker team, therefore you will get a 10% of 8,000 Euro after matching both legs.
The remaining 2,000 Euro will carry over to the next month.
3. Leadership Bonus
Leadership Bonus pays 2 to 5% based on the business volume of 10 levels deep downlines.
The leadership bonus depends on the affiliate’s rank, team size, and revenue volume generated in a specific time period.
4. Rank Awards
There are different ranks in Success Factory that an affiliate has to achieve.
Affiliates receive different awards for achieving specific ranks. These awards are for Topaz Rank affiliates or above rank affiliates.
- Topaz: Free Event Ticket
- Sapphire: Samsung Tab
- Ruby: Mount Batik Pen
- Emerald: Samsung Smartphone
- Diamond: Cruise Trip
- Blue Diamond: Hublot Watch
- Black Diamond: Mercedes Benz
- Crown Diamond: Apartment
- Ambassador: Ferrari
- Royal Ambassador: Private Villa
- Crown Ambassador: Yacht
Read: Zeniq Coin Honest Review: TERRIBLE SCAM
From what we have discussed above, this organization is a scam.
We will recommend you to stay away from such scams, do your own research, then think and examine twice before investing your hard earn money in such opportunities.