Elysium Network (Elysium Capital) is yet another Forex MLM business. They rarely last long and will for most people mean a loss of money. All of these companies are started for the wrong reasons, and with a layer of lies to make people believe they are managed by professionals.
Lets start with the lies; founder Fred Pascal Stege
Fred Pascal Stege (often referred to as Fred Stege) is the founder and CEO of Elysium Capital and Elysium Network. He claims to be an experienced C-level executive with a law enforcement background. He also claims to have a proven track record of success in Operations, Finance, Financial Markets, Trading, Marketing, Management and Sales.
None of this comes close to his real experience, which by the way is documented on his LinkedIn profile. His real work experience, according to himself, is: worked with VEMMA from 2005 to 2010. CEO of Origin Pure/Origin Unite from 2010 to 2018 (an unsuccessful MLM company). And Jeunesse from 2016 to 2019.
On the website he claims to have founded and managed several investment funds as well as his own family oﬃce, Stege – Beaufort. He has released several publications on linguistic marketing and has a recent post-MBA education, PLD, from Harvard Business School. Fred is also a frequent guest lecturer at several European top-tier universities. There is no evidence of any of this.
It does not make it look much better that he claims to have been the Principle of Elysivm (Elysium) since 2010, even if the company was setup and launched in 2019. And funny enough, the profile image that they use today was even used back in 2011/2012 when he ran Origin together with David Armstrong – Business for Home 2012 .
When a business starts with lies it will NEVER end well.
A closer look at Elysium Capital
Its nothing new with companies offering Forex investments. The problem is that most trading companies rely on fake or back tested returns when they promote their services.
The returns claimed by Elysium Capital is not like the typical investment scams which claim hundreds of percents return without any risk, they could in fact be real. This is a good thing. But these are not the returns any of their clients will get.
Elysium Network offers people to become Forex Brokers, in a virtual way. How does brokers earn their money? They earn of from trading costs, the fee the trader pay to take and hold positions. All brokers offer traders and anyone who introduce clients to them to set a markup, increase the fees. This also mean that for each trade you earn less, or lose more. The return presented by Elysium is either based on back testing (no real trading) or it’s without the markup.
This of course doesn’t mean Elysium Capital is doing anything wrong, the whole Forex industry is built around scamming retail investors in a way which is legal. But people will not get the returns they are presented. And it might not matter much, people who join Elysium are not in the business to invest, they are in the network to earn money by selling overpriced products.
Elysium Network, the MLM part
It sounds like the deal of a century, you can become a an introducing broker and dont have to spend €400 000 per year to operate your business. Instead you can pay €550 one time fee, plus €79.95 monthly to earn money like a professional. It cannot be presented more stupid than this, but I guess this is what people want to hear. The cost of being an introducing broker depend on licensing, if you work with offshore brokers the cost is zero, within Europe it requires a license but there are ways to get this for free as well (work under someone else’s license)
So what you are paying for is the business opportunity. You pay for no special software, no special access – this is a typical MLM where they had no product but added something so that they can legally claim people are selling stuff. Else its an illegal pyramide scheme – which is what is looks like to me. If you think its OK to pay €80 monthly to maybe (a big maybe) earn money, well, its your money. But you will most lightly end up with a loss.
As with all questionable MLM companies these days you can also become an owner. For a one-time fee of €299 you will become a founding member. There are no more details about how this works. They also write about a wide range of products which will be launched at a later time – have you heard it before… yes its used by MLM companies which has no real value.
To end off, it seem there business is not doing very well. They haven’t even finished their web page. This is their FAQ section, many months after their launch…
Summary of our Elysium review
We haven’t classified this as a scam yet as there is no clear evidence that it is a scam. But there is a lot that dont seem right. A founder serving lies about his background is the strongest evidence that this is not a long lasting business. And with no real products, and a very thin vision, I doubt this is a business for the future. But we will let tome decide this.