This is a review of Swissgolden. What is Swissgolden? a scam or legit? What do they offer you? Is it for you or should you look at other options instead? This and more in this short review!
Name of the company: Swissgolden
Overall rating: (2 / 5)
Recommended?: Not recommended
Important to mention before we go into more details of this review:
We always strongly recommend doing your own research online before you choose a company to invest with. There are so many reviews online of clients being ripped off and scammed. So please investigate thoroughly before you make your decision.
==> Learn about our Top 5 recommended Gold dealers on this page <==
With that being said, let´s continue with the review on Swissgolden!
What is Swissgolden? Is it reliable? Can anyone rely on it to make an income? Herein, I will be addressing these issues in a bid to help you get a clear perspective about Swissgolden. The main areas that I will highlight include the following:
– What is Swissgolden?
– What does it offer?
– How does this company compensate investors?
– Is it a genuine company?
– What are its main pros and cons
What is Swissgolden?
Swissgolden is a company that has its headquarters in the United Kingdom but is registered under the British Virgin Islands’ laws. This company is legally authorized to market gold for a couple of gold manufacturers. Some of the companies that Swissgolden works with include: Umicore, Metalor, Heraus, and Argor. These companies are well-recognized on a global scale, and those who have relied on them know that they are genuine. Can the same be said of Swissgolden? Let us proceed and find that out.
Swissgolden has so far managed to capture an international audience in nations like Mexico and Nigeria. This company’s mode of operation has unfortunately been put to question. It has actually made headlines in nations like Nigeria where close to 7000 Nigerians were conned of their money through an MLM scheme.
Swissgolden markets the products it receives from gold manufacturers through an MLM approach. You cannot simply buy directly from them. You have to be part of their Multi-Level Marketing program for you to gain access to what it has to offer. The funny thing is that this company does not focus on the redistribution of gold. Those who swallow the bait are made to embark on a very active recruitment mission in order for them to earn commissions.
What does it offer?
Swissgolden offers gold bars that are sourced from manufacturers such as Metalor, Umicore, Valcambi, and Argor. The Valcambi bars that Swissgolden claims to distribute is 99.9% pure. All the gold this company stocks is usually sold through an e-commerce platform. You can either store the gold in Germany or Switzerland, where there are storage facilities in which you can pay 1% of the total value of your precious metals. There is also an option to have the gold shipped to you, but you are required to pay the shipment fee.
A 10% processing fee is charged on every single order that customers make. This fee may seem quite negligible if you are buying a small amount of gold, but can quickly add up for the bulk purchases. Swissgolden promises to cater for part of these fees when you join the leadership reward program. If you purchase gold from this company, you can also resell it to them at any time that you need your money.
How does this company compensate people in the MLM business?
You will not be charged to join the Swissgolden recruiting program, but you have to ensure that you make sales in order to join the leadership program. Those in the leadership program usually reap several benefits, including a 10% discount on the gold purchases they make.
Swissgolden has created policies that see to it that you spend the cash you earn on the products on their e-commerce site. You can get bonus credits, but these will only come if you sell lots of their products. The standards set for one to start getting the bonuses are quite high. For instance, you have to sell not less than 7000 euros worth of Swissgolden’s gold for you to fill the Main Table matrix slot.
You can also sell your gold back to Swissgolden to make an income, but you will only be compensated 100% of the product. There is entirely no cash to make through the resale process.
Is it a Scam or Legit and Genuine?
So far, I am inclined to say that Swissgolden is a scam. This company’s objective is to ensure that you part with your money in exchange for your time as you embark on a fruitless mission to run a Ponzi scheme on your colleagues.
You are required to submit your order for gold bars, whose minimum value is 7000 euros. As opposed to making a complete payment for the gold you need, Swissgolden asks you to pay an initial investment. The preliminary level investors pay 220 Euros and those who want to be part of the VIP PLUS level part with 9850 Euros. Upon making this initial investment, an investor is usually placed in this company’s payout structure, and are required to bring in more people to earn commissions.
One person can make separate “initial investments” in this company.
One finally gets their account activated, but they can only receive any payment if they bring in two new investors to the program. The same happens to the new recruits: they can only be paid if they bring in two new recruits.
If you simply wanted to buy your gold and exit, you can see the kind of frustration that you have to undergo. Essentially, this is a Ponzi scheme that is only out to take money from investors.
There are MANY alternatives I would recommend as better ones, none of them are MLMs but rather real and serious gold investing companies, I have listed the top-rated ones on this website, but there is one that stands out from the crowd.
The #1 recommendation I can give you is to purchase from any of the companies on our top 5 list
They got (by far) the highest ratings and pretty much flawless reputation and testimonials from investors, so if you haven´t already checked them out, make sure to do so if you are a serious precious metals investor.
Pros and cons of Swissgolden
It might be wise to compare the positive sides against the negative ones to get a better overall view of something, right? As always in our reviews we provide you with some clear points on both sides of the spectrum:
– No upfront costs
– Can buy back your gold
– It is a Ponzi scheme
– Has formed headlines by robbing people of their money in Nigeria
– Registered under the British Virgin Islands’ laws despite being headquartered in the UK. This makes it very suspicious.
– Has a very complicated compensation plan
– Lacks sufficient information on its official website.
Do You Own or represent Swissgolden?
If you are a representative, or associate of Swissgolden and have found something not to be correct in this review please, feel free to tell us and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or simply by sending us an e-mail to firstname.lastname@example.org.
Final words and verdict
Verdict: Not Recommended
Overall rating: (2 / 5)
Ok, I think that sums up the overall view of Swissgolden. Sure, some might call it a legit service, however, many would call it a scam as well. What do you think?
If it is the right one for you or not is something you have to decide yourself. It is always a wise thing to educate yourself as much as possible in the areas you are interested in. It might be a good thing for you, however, make sure to get your info from more than one source.
You made a wise decision to read this review and you are a smart person so I am absolutely sure that you will find the right company to do business with that suits your particular needs the most.
What I would recommend?
There are many great investment services out there. We have many Gold Mining investment opportunities and services, coin dealers, IRA service providers, and financial services in general listed on this website, mostly for precious metals and Bitcoin but also for other alternative investments.
You can find the best from 2 worlds that we can recommend below:
I hope you found this short review of Swissgolden to be helpful and that you now have a better understanding of what it is and if it is something for you or not. Please, if you have used any of their services then share your experience in the comment section below as it can help others! Also, if you got any questions about this review I will be more than happy to answer them below!
I wish you success!
founder of: Goldretired.com