Engofor Review – Legit Business Opportunity or Another Scam?
Welcome to my Engofor Review!
Whether you are a pro in the MLM world, or you are just joining in, it can be overwhelming with the sheer amount of MLM companies to choose from.
Your best bet before choosing one to join is to thoroughly research each company.
This is one of the best ways to make sure your money is safe!
My review will give you all the information you need on Engofor, their products and their compensation plan.
Let’s learn more about it together, shall we?
Engofor Review – The Company
Engofor first came onto the MLM scene as “Cryptocoins Invest” back in June.
Last month, there was a relaunch announced under the new company name Engofor, which seems to follow the same business model.
Although I was able to find a corporate address in the Netherlands, there wasn’t any information on the company website about who owns or operates Engofor.
A little more digging and I was able to find out that Diego van der Veen is the owner, and Wendy van Dijk and David Vink are listed as co-CEOs of the company.
Alright, moving on the the products.
Engofor Reviews – The Products
Engofor does not offer any retail products or services.
Affiliates who sign up with Engofor can only market and sell the affiliate membership.
The Engofor Compensation Plan
Affiliates who want to take advantage of the compensation plan are required to invest in one of three packages that each come with an ROI:
- Package 1 – Invest $10 to $50,000 and receive a 4% daily ROI for 40 days ($500 max daily withdrawal)
- Package 2 – Invest $10 to $50,000 and receive a 0.5% daily ROI for 500 days ($500 max daily withdrawal)
- Package 3 – Invest $10,000 or more and receive a 10% monthly ROI over 730 days
There are also referral commissions that are available on money invested by down-line affiliates.
These commission are paid out through a uni-level structure down 3 levels of recruitment:
- Level 1 (Personally enrolled members) – 5%
- Level 2 – 2%
- Level 3 – 1%
Engofor also offers the Diweda Bonus which pays affiliates to sponsor new affiliates.
In order to qualify for this bonus, an Engofor affiliate is required to have invested a minimum of $100.
If an affiliate sponsors 5 affiliates who each invest at least $25, and do so within a 21 day period, they can earn a $75 Diweda Bonus.
This bonus can be earned over a rolling 21 day period.
Cost To Join Engofor
The cost to join Engofor as an affiliate is a minimum investment of $10.
EngoFor Review – The Verdict
The problem with EngoFor is the only income coming into the company for those ROI’s is affiliates sponsoring people in the business…
There is no other external incoming source coming into the company…
If that’s the case, this would be considered a ponzi scheme…
I did noticed that the EngoFor website does mention Forex, Real Estate, Binary Options and Company acquisitions as revenue sources, but there is no proof…
And that is the problem with companies that mention their external sources, they can never prove it…
The problem with EngoFor is once people stop enrolling people, the ROI’s will stop and so will the company…
Not if they truly did have external income sources, then that wouldn’t have matter.
Anyway, I hope you enjoyed my EngoFor review and if you have any questions, leave them in the comments below…
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