My personal experience with Genesis Mining has been anything but positive. I put in around 0.05 BTC to mine in 2016, and I only made around 50% of my initial investment back. After that, my contract was terminated straightaway. There are plenty of other cases like this.

Trust is a big issue with cloud mining. You don't know if a company is actually mining, even if they show clips of their mining farm, it really means nothing. You don't have control over the hardware that is supposedly working for you. Even big names like Hashflare can completely screw you over, as they did.

There's a lot of people on Youtube and crypto related blogs saying that cloud mining is profitable, but inevitably they put in their own affiliate links at the end to prompt people to sign up and invest. The only way to make money off cloud mining in the long term, imho, is to get affiliates. Your profits in cloud mining really depend on whether the coin your contract is supposedly mining goes up or not. You could most likely hold that coin and make the same amount of profits, if not more profits in a bull market.

I don't see Bitforx as being different to Genesis or Hashflare. They all operate under the same business model, and the previous two have proven to be quite unsuccessful in making profits for the investor.