08/01/2010. Interview with the admin of WestFinance

BEWARE! THIS PROGRAM IS PAYING SELECTIVELY! PLEASE DO NOT INVEST!

Hi guys! The first of two updates I have for you today is from WestFinance, a new long term HYI program that I joined a couple of weeks before Christmas. So far it’s been a dependable performer with few complaints. None in fact. So today I’m pleased to have an interview with on of the main admins of the program and website. The plan being offered by WestFinance runs for 120 days and offers various rates of interest based on how much you are prepared to invest. Payments are made on a daily basis and range from 1.8% per day for as little as $20 up to 2.5% per day for larger deposits of $3000 and more.

That’s all explained in a bit more detail in the review, published here, so you can take a closer look at that if you’re interested. Let’s see what the admin has to say about it first.

“1. Hi Admin, please introduce yourself to the readers of MNO and tell us a bit about your own involvement in WestFinance. Is this your first online venture? What other experience do you have in this Industry?

Hi Paul and MNO readers, I am Rob Sheffer, executive director and Principal shareholder of West Finance Ltd. I have more than twenty years experience in all aspects of business with concentration in finance and management, hold an MBA in Finance, and 11 years of securities trading in a major British firm. As such, my role and involvement at WestFinance is to overview the day-to-day trading operations of our traders and appropriate decision making to achieve targeted goals.

Yes this is my first online venture, and to tell you frankly, a few months back I was a complete newbie in Internet technologies. Thankfully I have been surrounding myself with some smart IT fellows to make this first online endeavor a real success.

2. Can you also give us some background history on WestFinance? Why did you decide to open your own program and what are you expecting to achieve by this? Are you alone or do you have a business partner or assistant?

In 2005, together with Jeremy Campbell our current Fund Manager and a minority associate, we’ve developed a Forex Trading Model, and founded a private investment club. The trading result at that time was mitigated. However with time, we’ve gained the confidence of a few high net worth individuals and gradually managing over $1 million value of client’s funds, the Net Asset value of our clientele portfolio today has jumped to a remarkable $3.75 million. Our model has been refined and optimized over the last year to achieving today’s near perfect returns ratio. We believe to have developed the Winning Forex Formula for Small but Steady gains – bar none.

The decision to open a website and accept worldwide membership is similar to that why any other business goes online – to reach a wider audience. More capital brings more opportunities and allows for additional leverage. And contrary to many firms offering managed accounts with tedious paperwork, we offer low entry requirements and absolutely no hassle to participate in managed forex fund. This allows for a greater accessibility and hence more clients.

Thankfully, I’m not alone in this formidable business venture. Success is traced along key human resource and I’m absolutely convinced to being surrounded with the right workforce, in the name of Ian Jenkins. He is my right-hand man, playing a key role in WestFinance Online activities. Being the lead customer support, Ian is in charge of the day to day operations of WestFinance; comprising of handling withdrawals, adding missing deposits and referrals and responding to support requests in a timely manner. He is dedicated to his work and getting customers satisfied.

3. What are the plans you are offering investors? What are the minimum and maximum amounts to spend? What payment processors are you currently dealing with? Are payouts automatic or do I need to request them?

Our plan is pretty simple and easy to understand. We pay varying dividend rates during business days from 1.8% up to 2.5%. Investors receive daily dividends from Monday to Friday, precisely paid at 16.00 o’clock GMT time. The rate of dividends attributed is dependent upon the total active deposits in an account.

The minimum deposit for newly created account is now at $100, pays a starting rate of 1.8%, going up to 2.0% when the active investment reaches $250. And 2.2%, whenever the threshold of $1,000 is achieved. And finally, a staggering 2.5% is offered when an account active investment totals at least $3,000.

The maximum a client can invest depends on his willingness to submit source of funds proof and other documents .With No paperwork the deposit limit is restricted to $10,000, while there is No limit for wealthier clients who can provide assurance of cleanliness of funds. We currently accept AlertPay, our account being fully verified, we accept deposit through Mastercard, Visa and Amex. We also accept another popular payment system which is LibertyReserve and finally PerfectMoney .Some other important facts about the plan: Dividends can be compounded daily, automatically if so chosen, or can be withdrawn anytime. There is a minimum holding period of 120 days for every deposit, fully returned back at end of term.

4. Tell us in as much detail as possible about the security features of WestFinance. Are you on a dedicated server? What measures have you taken to protect the program from DDoS attacks and malicious hackers? I’ve never heard of your hosting provider before. What can you tell us about them and how highly would you rate them as a service provider?

Yes we are on a dedicated Xeon server with 16 processing cores and 16 gigs of RAM, and I’ve been told this specification means its a powerful beast, It can handle a lot of traffic loads, which our website is receiving daily, our heavy marketing and promotional campaign being a pure success; we currently have more than 5100 registered accounts, out of which 850+ are vested investors.
Our Scripts have been designed and coded with security in mind. Being fully secured, it’s been engineered to prevent from all sorts of attacks, from sql injections attacks to many others. And it has been thoroughly tested by a security expert prior to the website’s launch.

As for DDOS, We are protected by Black Lotus Hosting, a trusted proven partner in DDoS protection since 1999. Our server had yet to suffer from a DDOS attack, let the bad guys keep trying, we are in good hands.

5. Tell us also about the script you are using. Where did you get it and how safe is it? What are the advantages, if any, to the members and the admin of using this script over any of the generic models usually used by online HYIPs?

The script is unique being custom built to our specifications by a website development firm. Generic models what the security expert told are weak by nature. As hackers can also buy those scripts for a couple of bucks and then analyze code to finding new flaws. Encryption of php code is a joke is what the expert told me. I guess its food for thought for all those who are in template scripts programs!

6. How have you been promoting the program so far? What advertising strategy are you using? How big a part have the existing members played in this? Tell us about the sign-up bonus you offer. Has it helped attract new sign-ups? How much longer is it going to be available for?

Competition is tough nowadays, but we at WestFinance are ambitious in nature and have set the bar high. Our motto and aim is to become one of the leading online investment ventures in 2010. For that purpose we hired an internet marketing guru who is deploying a whole new strategy to spread the word about us throughout the net. From massive viral marketing, direct phone and SMS campaigning, to giving away incentives like Signup bonuses and other goodies, we are bound to become popular and prosper, without a hitch.

Concerning our current promotion which runs till 31st January 2010, we are offering a Free Cash incentive of $25 on Sign-up. A few seconds after you complete the short, online sign-up form, you not only have $25 in your account, but you also start receiving dividends on it the next business day!

And The icing on the cake, for each and every deposit of $250 or more made till the 31st January 2010, a 5% Add-on Bonus is instantly awarded, and added to your deposit amount. A limited time opportunity not to miss!

7. If the members have any questions what is the most efficient way to contact you? What is the best time to find an operator on Live Chat? Do you keep the same schedule every day? What about telephone support? I tried to call your number but got no answer.

An email to Ian Jenkins and he will usually reply within a 12 hour timeframe. He is currently the only personnel authorized to access and update accounts. Live chat is usually accessible from 8.00GMT to 15.00 GMT time although there is no fixed schedule, Ian being very busy. Concerning our phone line, surely you have tried to call during the holiday period or on a weekend when our advisor was unavailable.

8. I believe you were thrown out of the MMG forum for the use of multiple usernames. Would you care to comment on that?

Yes I believe the overzealous attitude of a moderator at MMG has caused much prejudice to our reputation. There is a Clear, rational explanation which cannot be contested. I totally refute the motive of the ban. Usually when someone makes multiple posts under different usernames, their sole aim is to up the thread in question on the forum so it can be more visible. However at some point, we purchase a Sticky ad so we were on the top of the forum and had no motive whatsoever to up our thread when we got banned. Alas, we cannot give proper support and response only on that forum, never had such issues elsewhere.

9. I would like you to expand on the following statement made on your site:
“Your funds are held with a large and reputable British brokerage firm which insures each individual account up to $1,000.”
Can you prove that? Who exactly is this firm and if they are responsible for insuring my money then why aren’t they named? How do I contact them if there is a problem?

Our broker is MF Global, a leading participant on the major securities and futures exchanges world-wide. Let me be straightforward and concise, the guarantee does not hold against normal loss encountered by our traders, but insured against delays and interruptions to execute our trade request promptly, and as a direct consequence resulting in losses.

Additionally, on every trade performed, a provision for “Stop loss” is placed to ensure no excessive loss is encountered. Although past performance is not indicative of future results consistent returns generated over the past two year, has proved that our traders are able to minimize and mitigate losses to only a few trading days and thereby absorb those negative trades on next sessions.

10. Can you tell us about how you obtained your Certificate of Incorporation? I also have one of those for MNO. What does it mean to the investor? Why don’t you provide us with any information from the Financial Services Authority register? Wouldn’t that be what the investors really need to see?

Incorporation was sought by our accountant at the companies’ house in the UK. Well, for the same reason MNO got incorporated, to carry on business as a legal entity within a legal framework, submit annual returns and pay taxes on profits generated. In short, act in conformity with the law.

We do not deal with securities or stock trading, but only currency trading; forex market being a borderless and global market, thus currency trading doesn’t fall under the control of any national agency like the FSA. So, we are not obligated to register with the FSA. As most wise financial advisers will tell you, those agencies have excessive regulations and rigorous controls which hinder innovation and risk taking and by essence, blocks a firm’s ability to deliver high returns. No wonder why FSA/SEC registered investment firms aren’t able to generate high margins, they are constantly being monitored and muzzled from engaging in any aggressive trade model.

11. What can you tell us about the outside business activities of WestFinance in general and what evidence can you provide for potential members to verify for themselves?

WestFinance Ltd is a private group based in UK that manages a portfolio from mainly high Net worth individuals. The Group started operations in 2005, as a private investment club and since then has been growing rapidly with today managing a portfolio of about USD 3.75 million in Net Asset Value. Of course, for confidentially reasons, we are not at liberty to disclose information on neither our clients nor their holdings. Understand that our traders are always hesitant on handling out our detailed trading reports as they give key indications of our proprietary trading model and can thus be emulated by other traders. We cannot risk disclosing those details to a small investor willing to invest a couple of dollars but requesting trade proofs prior. The risk/reward would be totally disproportionate. However I’m certainly more open to potential high net worth investors looking to invest at least 6 figure amounts.

12. If you had just one thing to say to potential investors still undecided about your program, what would it be? A lot of programs are competing for my money, why should I choose WestFinance?

There are lots of choices for investors nowadays, and discerning the good apples from the bad ones isn’t easy at first sight. However we are professionals and it goes without saying we are good at what we do. Our Forex trading model has been time tested and is delivering consistent results. All ingredients are set for WestFinance to become the online investors’ main vehicle to new income stream in 2010.

Furthermore, we are seeking quality investors not quantity. To that effect, the minimum entry requirement will be gradually increased. With time, this opportunity will get exclusive and restricted to a more select group of investors. Currently the minimum deposit is at $100, so if you want to test the waters with us, wait no more. Now, is the right time to invest!

13. And finally, what are the plans for the immediate future of the program? What developments and improvements can we expect to see over the coming weeks and months?

We are in the midst of adding a popular payment processor, namely SolidTrustPay. Integration to our deposit and withdrawal system will be finalized incessantly. Our own forum will go live soon, so that our members can openly interact and voice freely their opinions.

Another great feature in the works is the automatic withdrawal request of dividends just after disbursement. This will save the hassle for our members from logging in everyday to make withdrawal request of their earnings. And lots of innovation and good surprises are to follow.

I’d like to thank MNO enthusiasts for their attentive reading; Knowledge is power, keep it up Paul. I hope that my answers have shed light and better understanding about WestFinance business opportunity. Until next time, Yours, Rob Sheffer, Managing Director of WestFinance Ltd“.

Thanks a lot to Rob for that and I hope you all found it interesting and that it helps you form a decision one way or another as to whether WestFinance is suitable for your own particular needs or not. Keeping in mind that longer term programs tend to be slow burners to begin with WestFinance does seem to be attracting it’s fair share of enthusiasts and hopefully we’ll find ourselves talking about them for all the right reasons for months to come.

That’s about it for the moment everyone, but don’t go too far. I’ll be back a little later this evening with all the latest news stories from the programs covered on my monitoring page as well as a review of a new short term HYI program. So stay tuned for that!