10/12/2009. Vegamex Review and Other News

Hi guys! Hope you all found the interview form earlier today in someway interesting. As usual I want to use the second post of the day to concentrate on the news stories from the more established programs on my monitoring page and also to properly introduce any new programs that may have been added recently.

And today it’s the turn of Vegamex. No, it’s not a new brand of vegetarian health products, though it sure does sound a bit like it. In fact it’s a new long term low rate of interest HYI program and even at first glance I’d say that it does have quite a lot going for it. I’m talking purely in terms of online HYIP games here of course, as there are a few things about Vegamex that I’d have mixed feelings about as well. More about that as we go on but still, I’m mostly positive.

The very fact that Vegamex is a long term program as opposed to a short term one is probably enough to increase its popularity among a lot of investors this month, give the reputation that December has for throwing up so many short term scams, but there is a bit more in their favor than just that. Unfortunately one of those things isn’t the plans. Not that they are bad or anything, in fact the rates are quite attractive. The problem is that the minimum amounts you are allowed to invest are just unfeasibly large for the majority of HYIP players and the admin has priced them so far beyond the reach of his members that there seems little point in ever even writing them. Anyway, for information purposes I will outline them all for you here. After all, it’s your money we are talking about and you’ll be the one who decides to spend it or not. Not me.

So to start with we have four plans that each make interest payments on business days only. The first of which offers you 1.8% interest per business day for deposits that start at a minimum of $10 up to a maximum of $2,500. The plan will run for 100 business days. At the end of this period your principal will then be returned. For obvious financial reasons this will be the plan most suitable (indeed the only one affordable!) to most of us. So let’s look at a practical example of how it might work out in real terms. We’ll take an imaginary deposit of $100 in this plan. In return for that we will get $1.80 returned to us every day, 5 days per week (Monday to Friday) for the next 20 weeks. That payment will add up to $9.00 per week, which means we should break even and see our first profit on payday number 56. Upon expiry all your payments should accumulate to $180, which can be considered as profit only once your principal gets returned.

The other three plans work in much the same manner, all paying only on business days and all returning your principal on expiry. Here’s a brief outline. The second plan runs for 115 business days, pays 2.2% interest per day, and is open to deposits between $2,501 and $10,000. The third one runs for 130 business days and pays 2.6% interest per day on deposits from $10,001 up to $25,000. And the final investment plan from Vegamex pays 3% interest per business day for 150 business days on amounts of $25,000 and upwards. Don’t all join at once!

Despite most of the plans being out of reach, the list of payment options is certainly going to accommodate the maximum number of investors. All the most popular payment processors are there including AlertPay, LibertyReserve, PerfectMoney, SolidTrustPay, and StrictPay. Withdrawals are manual and you are asked to allow up to 24 hours before they are processed. Compounding is not allowed.

Another feature of Vegamex that compares very favorably with it’s competitors is the security. In fact it’s better than most. The usual minimum standards that you should be insisting on anyway are all in place. The use a script that is licensed from GoldCoders and GeniusGuard is the hosting provider. That name doesn’t pop up as often as some of the better known names, but from what I know of them they are quite dependable. They have Vegamex on a dedicated server. What’s better again though is the use of SSL encryption, a feature that remains woefully underutilized in this industry. So there should be few problems with the safety of your transactions. There is also a Comodo certificate, though this is more to do with verifying the authenticity of the website (which is still important) rather than protecting your actual investment.

There are a variety of ways to get in contact with the admin listed on the website. Unfortunately on of the drawbacks here is that most of them are not valid. The phone number for instance goes nowhere and is apparently not connected to anything. The also offer a postal address in London, but surprise surprise, when I called there I found a number of businesses but Vegamex was not one of them. No surprise however that my visit was against the admin’s wishes. But what does work for contacting the admin is the direct e-mail address that is listed on his contact page as well as the online support ticket submission form.

What is most puzzling about them though is their claims to be a legally registered financial business entity, especially when those claims can be so easily disproved. The claim is just full of holes by the way, although there would appear to be an actual company called Vegamex registered in the UK since 2001. Problem is though that their business is listed as “data processing” and this Vegamex have only been running since a couple of weeks ago. For what it’s worth they have the same name as another company in France, but I’m not going any further with this. I asked the admin, he didn’t come up with a satisfactory answer, now it’s your turn. Feel free to ask them yourself. If you put much importance into claims of this nature that is.

Not that I want gloss over any of that you understand, but after this many years of dealing with internet based investment programs I suppose I can be guilty myself sometimes of just shrugging my shoulders and saying to myself that that’s just the way things go around here. So many programs put a lot of work in to the style of their websites at the expense of the substance. But less so with Vegamex. I don’t quite believe the line about them being a legally licensed investment firm, and I certainly don’t swallow the one about them being regulated by the Financial Services Authority (FSA). But as an online HYIP they are still pretty good and on that level I do like them. And as an online HYIP it’s well planned and well thought out. There’s a reasonable chance to be in profit here, with the one’s who go first doing best. Worth a couple of bucks but do so with both eyes open and realistic expectations of what you are joining.

Other news for today.

First I’m glad to report to you that seemingly I was too fast in moving KobelCapital into Problem status yesterday. Apparently the delay was caused by some technical problems which have been fixed by now so KoberlCapital managed to pay all the pendings. I’m glad actually that I was mistaken in this case and of course I have returned KobelCapital to Paying status already. I remind you that the program is paying 2.55%-3.35% for 90 days with the principal returned on expiry. More about KobelCapital can be read in the review published here. This is the apology letter from the administration of KobelCapital received today together with my outstanding payments:
“Dear All Client. We are very sorry for delay of payment due some hard to connect from database with auto payment ecurrency gateway. Now the problem has been fixed and all pending withdraw has been proceed. Sorry for inconvenience.
Customer Support. KobelCapital Management”.

There were two updates from SazaInvestments (reviewed here) received today. And the first one was regarding the unanswered tickets which many members submitted a few days ago to which they are still awaiting answers. The admin assured the members that all issues will be handled successfully by their professional support team even though it takes longer than usual due to their multiple offline business activities:
“We handled almost all support tickets and fixed problems. The few rested will be handled tomorrow. We have told you many times by now that there is no problem that won’t be solved even if with delays. It is more important for all of us to work more and get more profit during this time of the year because soon all businesses will be closed but members still need to be paid in time. So that is why the delays, because we are working more offline to make sure everything will be ok. We hope all of you can understand this. Thank you all for your trust in us. Regards, Ricardo Andre Brandao. SazaInvestments Marketing Manager”.
And the second update which I received just a few hours ago was a usual reminder that the payout button had been opened and would stay open for the whole Friday. Please don’t forget to request your weekly 8%-10% cashout from SazaInvestments. Here is the reminder:
“It’s almost Friday so it’s payday again. Please don’t forget to request your withdrawals correct so that won’t be canceled. Thank you all for your trust in us. Regards, SazaInvestments Team”.

As you might be aware the sites of XrateInvest and RichAliens were both not accessible for several hours last night. As I thought, it was connected with an issue with their data center. By now it seems everything is fine and both sites are working as normal. The admin of RichAliens Robert (interviewed here) even sent out an update regarding this which he put into his “alien” extra-terrestrial language. Here is the latest update-transmission from RichAliens:
“Initiating Alien Contact… teet tee tee teett… initiated…
Hello Earthlings, The RichAliens website was down due to an ISP issue where the server datacenter is. The website was unreachable for some hours, approximately 10 hours. But it is back online now. Everyone should be able to load it now.
Remember to befriend the RichAliens after you get paid each time. We work hand in hand to surpass this black month of December for this industry.
From the mothership, Robert Raile
Ending communication sequence… teet tee tee tett… ended.”

PTVPartner (reviewed here) will be holding a meeting in just a few hours where you can discuss the program’s features and ask some questions to the admin. However, if you are too lazy, sorry, make that “busy”, to be at the meeting please feel free to read my interview with the admin of PTVPartner Garrett here and hopefully you will find the answers to all your questions. It’s definitely one of the best programs now paying you on four plans on expiry: 110% after 10 days, 125% after 20 days, 145% after 30 days, 190% after 40 days. Here is the latest news from Garrett mostly concerning the meeting:
“Meeting Reminder
We have a scheduled a meeting for December 11th at 4AM GMT (Dec10th at 10PM CST). We will be discussing our primary project, recent developments as well as future endeavors. Don’t miss your opportunity to attend.
This Meeting is held in the PTVPartner Community Chat Room.
There is much that has happened, much going on and much in store.
We hope you are all having a wonderful Holiday Season.
We are the next Financial Giant in the High Yield Financial Opportunity World. If you haven’t noticed … then you just aren’t looking!!!
Start the Experience … join PTVPartner and … Free your Life!!!
The Ultimate High Yield Asset for your Offshore Financial Portfolio!!!”

If you haven’t read the interview with the admin of GloTrade program (published here) you were definitely reminded about that in the today’s newsletter sent to all the members of GloTrade program (reviewed here). Please also remember that there will be some bonus interest payments credited to the investors of GloTrade in both plans due to trading success and to find out more about that please refer to the further update:
“Hope you are all doing great. Another quick update from our side that Paul Abramson of Money-News-Online.com has published an interview with GloTrade and you can view it here.
Don’t miss to read this interview as he has covered each nook and corner of GloTrade and we hope that we have given sufficient information about us and our work for everyone. If you have any further questions regarding GloTrade, feel free to contact us.
We just wanted to remind you all once again that GloTrade will pay bonus profit this week end as we have gained a huge profit this week in our trading sessions. We are going to pay each member 1% (GT20 plan) and 1.5% (GT40 plan) on Saturday and Sunday. This will be credited in your account and you can withdraw it immediately.
That’s all for now. We will be back if there is anything new from our side.
Admin. GloTrade.”

It’s good that some admins are actually listening to my recommendations. If you remember I was not very pleased with some of the features that I found when reviewing InstantMoneyBets recently (read it here). In particular I didn’t like that they used an unlicensed GoldCoders script and didn’t have an SSL-encryption for the members’ security. So though they didn’t mention my review in their latest update for obvious reasons they did purchase the license from GoldCoders and promised to install SSL on their site within the next few days. I am glad that some admins take this constructive criticism from MNO reviews as a guide to correct the mistakes they made on their website. There was also a couple of questions and answers that were added to InstantMoneyBets website as a mini-interview and you can also find their an interesting comparison with GoldNuggetInvest (which is undoubtedly the leading sports arbitrage betting investment site now). Please read the whole update from InstantMoneyBets for all the news from the program:
“Today we have really important News from IMB. Someone have send out an Email with an Scam Offer. Please delete this.
Invest only with us by using your Account at InstantMoneyBets.
So the first step today for us, we have bought a License Script directly from Goldcoders and have reupdated our Website.
Check the License here: http://www.goldcoders.com/?page=checkdomain
Within the next 48 hours we will also setup SSL for our Server.
So we have an high secure and DDOS Protected Website.
Also, please have a look at an interesting Interview with an Member which we will add also today to our Website.
You will find it here within the next 5 hours.
Last I want to Thank all our 320+ Members which have earned and withdrew over 3.000$ in the last 2 Weeks.
Keep your Eyes on IMB it will be an really hot run with us.
Michael and Martin”.

It seems there were several programs where members received some phishing emails with some LR number where they were asked to send their money directly as a special plan from the admins. I hope nobody bought this nonsense as what is the reason to offer some special plans through an e-mail if everything can be explained on the website. Today I received some phishing email myself from the address admin@absfund.com asking me to deposit directly to some LR account. As you can see one letter is missing so I hope nobody sent the money to that scammer. The support staff member of ArbsFund program (reviewed here) reminded us that nothing can be invested directly but only via the website which accepts all the major e-currencies for the one plan paying you 8.5% weekly forever. Please also note that you can’t use the internal exchanger built-in into ArbsFund script without actually investing money into the program first. This is strictly not allowed as ArbsFund is an investment program and not an exchanger so only active members can use this handy feature to exchange e-currencies within their member’s account. Here is the latest newsletter from them:
“To all ArbsFund Stakeholder; I am part of the security team of ArbsFund. we would like to inform everyone that fake spam emails are being sent out. Please do not click or invest on the Link from the email, we will never asked you to invest using a link on a email. We have seen that the email came from admin@absfund.com which is totally fake from the way you see it. I hope everyone will used their own instinct before falling in such fake emails.
You can only invest via your members area, we will also notify our script writer regarding this matter. We have check our system and everything is clear. This Fake Emails was sent to random people so only few receives that email.
Once again; to the people that have money sitting in their account balance, you need to use the Make Deposit tab in your members area in order to have you deposit as an active investment. Also to all the people that just deposit and never invest and exchange their money into different currency, we are watching your account. We are not an e-currency exchanger. E-Currency exchange is for the benefits of our Active members.
If you have anymore inquiries regarding this matter, feel free to contact us again.
Thank You! Security and Anti Fraud Department.
For your success ArbsFund Team”.

XagaEnterprise (reviewed here) received a blackmail letter yesterday but the admin didn’t pay. And rightly so! Maybe that was the reason why the site of XagaEnterprise was DDoS-attacked tonight and was unavailable for several hours. The problem is now fixed and you can access the site again and request your withdrawal from any of the investment plans offered: 1.2% daily forever, 0.5% for 30 business days, 0.7% for 90 business days or 8%-10% weekly forever. You can read more about the sources of income for XagaEnterprise in my interview with the admin Kevin published here. These are the latest two emails I received within the last 24 hours from XagaEnterprise:
“Yesterday, Xaga received a threat from blackmailer.
I asked Kevin what to do with this, he said, “Nothing, This guy needs mental help.” Lol.
Since We created the weekly plan, Xaga is growing fast each day. XagaEnterprise has more than 1600 members worldwide now. We can’t be successful alone. Thank you.
To all blackmailers, here what Kevin said, “Go to hell!”
Sorry about the language.
Thank you. Regards, Diana. Customer Support”
“Apologize for being offline for couple of hours. Our server has been attacked by huge DDOS.
Koddos has solved this problem and everything is fine now.
I guess this attack came from the blackmailer as he said that if we don’t pay him in 24 hours, they will attack us.
Thank you. Regards, Diana. Customer Support”.

The admin of CruiseFunds (reviewed here) warned that all the withdrawal requests that are delayed for more than 24 hours would be processed very soon. He said he was quite busy recently which led to delays with the payouts. Well, I will give the admin the benefit of the doubt in this matter as I have two pendings already. Of course I will report on my blog as soon as I’m paid. Here is the update from the program’s admin Daniel regarding the pendings:
“Update regarding payments.
Would like to say sorry to all members for some delays about payments. I was busy two days and didn’t had much time or payments. I have started making payments, so all pending payments will be done within next 12-15 hours. Sorry for delay.
For those who already received payment, please vote at monitors. I have checked rate us page and saw that only few members voted.
Review.
Our program was reviewed by Money-News-Online.com. You can find it here.
Best regards, Daniel”.

The payouts also slowed down in another medium-term autosurf SurfVesper (reviewed here). I’m not sure what the reason for the extended time frame for payouts was as I saw on forums and also that only the payments to AlertPay were pending. I’m not sure if there is some connection with AlertPay which might restrict the program’s account like it did recently with a few of them. I hope it’s not the case here as in the latest update the admin of SurfVesper didn’t mention the issue at all and just talked about the referral contest that was launched. I will keep you updated if I hear more about it. Here is the latest newsletter from the admin of SurfVesper program which is paying 9% for 15 days by the way:
“My Dear Members, I am happy to say we are online since one week, and I am positive and happy to say we have more than 110 Members joined us so far. This was over my expectation, I was thinking we have this amount by the end of this year. Since this site is growing nicely we did some more advertisements ourselves, and I believe we could even reach 200-300 Members pretty fast.
I decided to have a Live Support over Yahoo Live Messenger: surfvesper@yahoo.com this live support is daily online from UTC 11:00 PM to UTC 0:00 AM and UTC 9:00 AM to UTC 10:00 AM Monday-Friday.
All other Supports still go over our email admin@surfvesper.com and will be handled as soon I receive it, or as fast as possible.
Payments are still daily and sometimes more than once depending on how many requests are in my administration box.
One of my members succeeded a referral contest, and I think this could be a good idea, so from today for the next 7 days the referral contest is opened, the best referral hunter will receive 10% from the amount referred additional to his 8% he received already! So he will receive a total of 18% referral commission during the next 7 days. (8% paid as usual daily +10% after 7 days for the best), the second best will receive additional 8% and the 3rd best additional 6%, but it not ends here, the 4th to 10th position will receive additional 4% what I believe should make everyone who has friends in the internet, a potential referral hunter, and you do not need to have a blog or a monitoring site to win.
Any more questions? Write me an email, or see me in Yahoo Live
Messenger. Yours truly T.K.”

Unfortunately one more short-term program appeared to be a fast scam during this lead up to Christmas. And this time it was AdFexFund which only was listed on my blog for 10 days and their whole lifecycle was a little bit over two weeks. This is a typical time frame for all the fast Christmas scams. It can be hard to distinguish the good from the bad at this time, especially with so many of them collapsing so fast. But I don’t think that they’re all bad either.

For instance I have joined another promising program with three plans and payouts on expiry. HugMoney (that’s what it’s called) pays you 122% after 5 days, 135% after 7 days and 200% after 20 days. The most crucial thing here is timing of course and I can say that it’s perfect because HugMoney just launched today. So the first members joining will benefit from a less risky profit. The program looks quite good and accepts four payment processors including LibertyReserve, AlertPay, StrictPay and PerfectMoney with the deposits starting just from $4 in the first plan. Hosted on a dedicated server protected from DdoS-attacks by DdoSWiz HugMoney utilizes a licensed GoldCoders script so you will have to request your payouts on expiry by yourselves which will be paid within 24 hours (according to the program’s FAQ). Of course you should completely skip all the nonsense about their trading activities and just treat it like the game that HugMoney really is. More on that program you will be found in the upcoming review which will be published on my blog after I receive the first payout.

The second program is more interesting in terms of originality but it’s not brand-new either. I’m talking about WestFinance which I accepted for monitoring just today. It’s been successfully running for over a month already though. The interesting thing is that WestFinance claims to be registered in the UK and it has a real number which you can verify via Webcheck. However, due to my skepticism towards such registered entities and the ease with which the whole process can be worked, I tend to doubt that it will help you to get your money back in the event of any problems. At least the appearance of credibility given to online HYIPs by such things will get WestFinance more investors and their claims of having their money invested in ForEx will be seen by the many less vigilant and more trusting investors as a definite advantage over the competition. The plans WestFinance offer to investors are not so high and can be quite sustainable in the long run. Accepting LibertyReserve, PerfectMoney, AlertPay (including Credit card payments) and Bank Wires WestFinance should be good for every investor. The minimum is not so high at $20 which can be affordable to any serious investor. For the minimum investment you will be paid 1.8% daily which could eventually reach 2.5% if you invest more into your account. These interest will be credited to your account during the business days only (Mon-Fri) when you can withdraw. Your principal will be locked-in for 120 calendar days after which it will be released. WestFinance is now offering a great $10 bonus deposit which will be credited to your account automatically on registration but will not become active until you make your first deposit into the program. Plus you will get a 5% deposit bonus after the completion of your first investment. My balance due to that was increased from $200 initially to $220 which is not a bad little extra at all. These bonuses are offered only as a part of a promo-campaign till the end of the month and will be removed after that. So hurry up if you want to take advantage. Anyway, I could talk about WestFinance all day as I really liked the program for its original texts and comprehensive explanations of the whole investment process and its very good graphics. I look into it a bit further for the upcoming review when I’ll be able to describe everything a bit better. So far I just found out that the program uses a very good customized script and is hosted on a dedicated server by KatzGlobal in HongKong. Stay tuned for that, guys!

And finally for the last 24 hours I was paid from the following programs: MoneyCare, Vegamex, GeniusFunds, TalixMetals, KobelCapital, NanoMoneyCorp, PanaMoney, SurfVesper, CSMFinance, AsiaInv, GloTrade, GoldNuggetInvest, RosalinFinance, FinanceNova, RefMotor, Flanita, IncoForex, AtlantisMutual, InstantMoneyBets, MandarinInvest, 4CountriesCapital, GlobalFund, TheKapital, InvestmentForge, RichAliens, ArbsFund, XagaEnterprise, TradeZoom, EcosystemFunds, OneDailyPro, PTVPartner, CedexInvest, MoneyPlus, AimTrust and StableInterest. That’s it for today! See you here again tomorrow, everyone!