It’s likely that you have come across EXnGlory through an email list, on social media or got it recommended by a friend or family member.
Is EXnGlory a scam? The reasons why you’re here is because you have want answers right so, that’s what I’m going to provide for you within this EXnGlory review.
First and foremost I must commend you for actually doing a bit of extra research before committing to joining EXnGlory. For all you could have known, the product could be a major scam so the fact you’re here right now, researching whether or not that’s the case is a pretty smart move on your part.
To be fully transparent with you, I am personally not a member of EXnGlory so I can assure you that I will not attempt to sell you it unless of course it’s worth investing in.
What I will aim to do is provide you with an unbiased 3rd party look at EXnGlory that will hopefully help you to make the best decision you can in the end.
PRODUCT NAME: EXnGlory
OWNER/S: not disclosed
TYPE OF PRODUCT: investment MLM
PRICE: $100 minimum
SUMMARY: Yes, I personally do think that EXnGlory is a pyramid scheme and a scam because it shows off quite a few major red flags.
These red flags include recruitment literally being the only way to make income with the opportunity, the lack of retailable products is problematic too and is considered by the FTC as a characteristic pyramid schemes display, the ridiculous returns on investment is another red flag and of course the fact the company not being registered within the trading governing bodies within which EXnGlory operates in is a major red flag too.
In short, EXnGlory is at the very least committing securities fraud and is very likely to result in many members, especially the newer affiliates, to lose a lot of money once recruitment stops and the company collapses.
FINAL RATING: 0/5
RECOMMENDED: NO!!
Table of Contents
WHAT IS EXNGLORY?
EXnGlory claims to be an Australian trading platform that has been present since 2015 however, after doing a little background research on it, I came to know that the website itself was only recently registered in September 2019 under the name of ASIC.
It’s Youtube channel with all of its promotional content was also created in September 2019 and the face behind the corporation, Christopher Alisson is very likely to be an actor too considering the layout of the promotional videos don’t make the EXnGlory come across as a legitimate entity.
Furthermore, the accent would suggest that Christopher is European and not even partially Australian so, that’s another factor pointing towards the CEO being an actor.
Then again when you consider EXnGlory are already lying about when they got started, it only makes sense that they’ll lie about other aspects of their business too.
That’s why even if there is a very small chance that Christopher is in fact the CEO, it doesn’t really come across as being all to believable therefore, I have to say that there really isn’t very much information on who runs the company. This is of course a major problem and a very common characteristics among pyramid and ponzi MLM’s.
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EXNGLORY PRODUCTS
EXnGlory does not offer any retailable products, all they offer is the opportunity for individuals to buy into the affiliate membership.
This is actually a pretty common factor among pyramid schemes which is even outlined as a red flag by the likes of the FTC. One thing that actually makes a MLM entity legitimate in the eyes of the FTC is when they sell products non affiliate consumers can buy but of course EXnGlory does not do this.
HOW DO YOU MAKE MONEY WITH EXNGLORY ?
As is the case with pretty much all MLM businesses there are 2 ways to make money with them, EXnGlory being no exception.
1. The first method is via the returns from your own investments.
2. You’ll also be able to make money through your recruits and down line through which you’ll generate residual income by following and meeting certain criteria.
HOW TO GET STARTED
If you want to join EXnGlory, it is free to do however, in order to make money from the compensation plan you will need to invest a minimum of $100.
COMPENSATION STRUCTURE
There are 2 ways through which affiliates will be able to earn money according to EXnGlory. The first methods is via the investment route where they claim affiliates can earn returns anywhere from 118% to 121.6 within a 18 day period.
This means if you decide to invest $10k, you should expect to make in the region of 12k in profit within 18 days…
Yeah this is an absolutely absurd proposition and I’m willing to bet that they either do not pay these kinds of amounts or do pay these returns but only through the money that comes in from newer affiliates.
Referral Commissions
The second way affiliates will be able to earn with EXnGlory is through referral commissions via the use of a unilevel structure. This means that affiliates will be able to earn referral commissions infinitely horizontally but vertically the earnings will be capped. The cap in this scenario is at the 10th level.
The referral commissions are paid out as a percentage of the invested amounts within each level, which is as follows :
- level 1 (personally recruited affiliates) – 7%
- level 2 – 5%
- level 3 – 3%
- level 4 – 2%
- levels 5 to 7 – 1%
- levels 8 to 10 – 0.5%
THE NOT SO GOOD THINGS
Recruitment Is Pretty Much The Only Way To Make Money
As there aren’t any retailable products, it means that affiliates won’t actually be able to earn anything without becoming a member or without recruitment.
If you don’t already know, whenever the main way to make any kind of income with a MLM company is almost completely based on an individuals ability to recruit, this is very often a very big indicator that the company in question is more than likely a pyramid scheme.
This is basically how I see EXnGlory as. The fact that the only way you can make money with the company, without relying on the very improbable returns on your investments, is through recruitment is very big issue as it would indicated that EXnGlory is operating like a pyramid scheme.
EXnGlory Has No Retailable Products
This is obviously another issue and one that the FTC regard as a factor to take note of when discussing the legitimacy of a MLM company.
The lack of retailable products is of course another huge red flag and very good reason to be cautious of this company.
They Aren’t Regulated In The Regions They Are Operating In
In the 3 countries that EXnGlory seems to have the most traffic from online, according to alexa, which includes USA (34%), Iran (14%) and Russia (10%), it doesn’t appear to be registered to any of their governing bodies regulating trading and other forms of securities which is once again a pretty major problem.
The ASIC registration for Australia shouldn’t really be taken at face value either because it’s very easy to do as it only costs $495 to do so. Besides even if the ASIC registration did cover the regulation of securities within Australia, the lack of regulation within the other regions is still a major red flag and does in fact insinuate EXnGlory is operating illegally.
THE GOOD THINGS
There is literally nothing good about EXnGlory in my opinion, it’s simply an entity that you should avoid as it is way more likely to result in you losing money over actually coming out for the better.
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IS EXNGLORY A PYRAMID SCHEME/SCAM?
Yes, I personally do think that EXnGlory is a pyramid scheme and a scam because it shows off quite a few major red flags.
These red flags include recruitment literally being the only way to make income with the opportunity, the lack of retailable products is problematic too and is considered by the FTC as a characteristic pyramid schemes display, the ridiculous returns on investment is another red flag and of course the fact the company not being registered within the trading governing bodies within which EXnGlory operates in is a major red flag too.
In short, EXnGlory is at the very least committing securities fraud and is very likely to result in many members, especially the newer affiliates, to lose a lot of money once recruitment stops and the company collapses.
MY PERSONAL RECOMMENDATION
I personally will always recommend against using a MLM business model to make money, not because you can’t make money through it (you totally can) but, the system has always seemed shady to myself and is kinda synonymous with the likes of a pyramid scheme or scams (MOBE and Digital altitude).
Instead I prefer working with something created through ones own means and is ultimately dependent on yourself and your work ethic alone.
This method I’m talking about is affiliate marketing.
The reasons as to why I recommend it over MLM based structures are because
– there is no need to recruit constantly
– it is a legitimate method that has been working consistently and continues to grow as more businesses want individuals to promote products
– and because it is free to start up, no unnecessarily large start up funds needed.
The service I recommend is Wealthy Affiliate. It’s free to sign up to and will get you set up and ready to start your affiliate marketing journey within minutes, as it did for me when I begun my journey.
If you have any questions that you would like to ask me regarding EXnGlory, feel free to do so in the comments section below and I will get back to you as soon as I can. If you have your own thoughts about EXnGlory and would like to talk about it, again feel free to do so in the comments below!
Thanks
Amhil