25/02/2010. FxPetroleum Review and Other News

BEWARE! THIS PROGRAM HAS STOPPED PAYING! PLEASE DO NOT INVEST THERE!

Hi guys! Following this afternoon’s interview (which I hope you all found interesting by the way) I’ve decided to stick with longer term programs for the moment and take a closer look at one of the most recent additions to my monitoring page. It’s a fairly original program called FxPetroleum. OK, so HYIPs are never really that original but you know what I mean. The graphics are made up of pictures of offshore oil rigs instead of the usual smiling yuppies with laptops and coffee cups, but it’s still an online HYIP.

FxPetroleum is the latest program to offer a “no expiry” style plan to their members. So in other words if you join they will keep paying you until the program eventually collapses. And what we’re hoping for is that we’ll all be in profit before that happens. So what have they got for us? Well FxPetroleum have made the decision very easy for you because they’ve only got one investment plan. So basically it’s a case of take it or leave it which I guess makes everything simple for all of us.

The plan is called The Fx Mono Plan and it’s open to deposits starting from a minimum $5 up to a maximum of $10,000. And for that you are offered a weekly interest payment of 15%. So for example you were to invest $100 you would be paid $15 per week in return. That means you would break even after 7 weeks. Keep in mind that there is no early withdrawal clause here. Your principal will not be returned at any time so think about that carefully before signing up.

The payment options are pretty good. Difficult to improve upon in fact. All the main popular payment processors are being used including AlertPay, LibertyReserve, PerfectMoney, SolidTrustPay, and StrictPay. That’s all great in itself but I can’t help wondering just how sustainable the whole thing is. I mean I know it’s true that some “no expiry” style programs have been hugely successful in the past, but how many have given such a massive weekly interest payment? And then on top of that you can add one of the biggest referral commission rates you’ll see from any HYIP at the moment. At 10% I have to say as a monitor that looks mighty tempting but as an investor I’d also say a ref commission of that size is putting a big drain on an already fragile cashflow. Especially when they only offer one plan so their isn’t any cash flowing into some longer term plans in order to cover short term demands. Just my opinion you understand, and I’m not an accountant. And I’m also not trying to overstate the fact. All HYIPs have risks attached to them and the very same rule applies to all of them.

The security of the FxPetroleum website is as good as most online HYIPs these days. They are using SSL encryption to protect their member’s accounts areas and are hosted on a dedicated server. HushHosting is the provider and are also protecting them from DDoS attacks. The script is licensed from Neversay, so as is usually the case with programs using their products you may only invest in blocks of a certain price. The price here is $5 so you have to invest in multiples of that, eg $5, $10, $15, etc. Customer support is available solely through the online support ticketing form so pass all your unanswered questions to the admin through that.

It’s a fairly safe bet to disregard any of the claims made by the admin regarding their outside business activities and how they think they can finance such an operation. Apart from some nice pictures of derricks and oil rigs there is just one single line on the entire website about it. “In FxPetroleum, we invest our member’s funds into petroleum products.” And that’s it! No further information is offered. It hardly seems worthwhile ever even making the claim in the first place, does it? Anyway, feel free to take that up with the admin if such things are important to you. I doubt many long term readers will bother! But at least it’s a break from the usual ForEx and stock exchange stories so thanks for sparing us that anyway.

My own verdict is that FxPetroleum is a very high risk venture and you need to be careful. But then that’s not exactly news either. In this case though the program does have a high level of security and there is a good choice of payment processors so I can see that some thought and effort have been made here too. So if you do like it then most likely your best option is joining early. And remember that you can’t possibly lose thousands of dollars if you don’t gamble thousands of dollars. It only costs $5 to join FxPetroleum so try and keep it sensible ok? The program is only a week online so the first payments (interest, not referral) are only due to be made around now. So keep an eye on my blog and see what happens.

OTHER NEWS FOR TODAY.

Let’s start with some good news first. NanoMoneyCorp is finally back online after some extensive DDoS-attacks that occurred yesterday and raised some fears in investors’ minds. Well, the admin of NanoMoneyCorp (interviewed here) posted on the website yesterday that there was nothing to worry about as the program will get through despite this latest obstacle and all the inconvenience caused by the attack. Here is the update that was published last night:
“Massive DDOS attack.
Dear investors!
The site is currently under enormous DDOS attack. You may expect long time of page loading or some system faults. In fact we face that type of attacks for the first time ever. But please be patient as we are working hard to find a solution. The attack we faced is so difficult that not many of the DDOS protectors we turned to (including the one we use) are helpless. But still the site is working and we handle all the payments in timely manner. This attack would not affect your investments and you would not loose a penny because of it. We want to apologies for any troubles the work of our site may cause you but you have to understand that it is in our favor to fix everything as soon as possible. Be sure that we will continue our work despite of any obstacles would appear on our way.”

Today though the admin of NanoMoneyCorp asked investors for patience while they fix all the errors and reorganize their systems to protect the site from any possible future attacks. I think it’s understandable and the members of NanoMoneyCorp should give the program a fair chance to fix everything so the stable work of the site might continue as usual. Here is the latest news from NanoMoneyCorp (reviewed here):
“The site is back to normal life! Although you have to be patient for one more or two days until we would fix and reorganize our servers and system. During that time some payment delay may be possible. We do sincerely apologize for any possible delays but hope for your understand. Everybody there knows that it would be our fifth year in a row that we never missed a single payment. As well you all know well that we faced a massive attack on our site. Some of you even proposed us to close a member section or even a sight for a while. We did not follow these ideas but we need time to make everything work and look the way it was before. So I do hope that all you understand that and would show us your trust and patience one more time. We would try to fix it as soon as possible.”

The admin of FxStar (interviewed here) is also asking members for patience during the time they are repairing some problems with their script. It seems at the moment the instant payouts have been disabled on all the payment processors. The admin of FxStar promised today not only to fix all script issues within one day but also add a new deposit method – Bank wires. We will see how it goes, however I would not recommend you to invest in FxStar right now while we are waiting for everything to be taken care of. If by tomorrow the withdrawals are not working I will have to move FxStar to Problem status on MNO. Here are the latest updates from them:
“Dear partners! In the last 3 days we had some problems with our security, that’s why we had to put many withdrawals into pending status. We had these problems before and we have solved them. So you don’t have to worry about that. We will start our normal work in 1 day.
Dear partners. We are happy to inform you that today we will add the bank wire. So watch the news.”

I would like to warn you once again from investing in GoldenFleeceFund. The program is currently paying selectively and I have just received a confirmation from a couple of readers today that they are still waiting for their cashouts and were not responded to by the admin. Meanwhile, he seems to be pretty desperate to scrape another couple of bucks together in order to prolong the life of this obvious ponzi. So he is now offering another plan for those with money to waste. This is the latest email from him:
“Hello, This is Felix Zeller with GoldenFleeceFund. We are proud to announce a short term VIP plan anyone may take part in. This short term VIP plan lasts 30 days long and has a minimum investment of $5001. For a deposit of at least $5001 into the VIP Short Plan, you will earn 3.0% on business days (Monday through Friday) with principal returned at the end of 30 calendar days. Please contact us if you have any questions. When making a deposit in your account panel you should see the VIP Short plan which advertises 3.0% daily for 30 days.
Thank You, Felix Zeller. GoldenFleeceFund Manager”.
Well, I hope you won’t buy it as the biggest investors are the ones who usually are not paid from such programs like GoldenFleeceFund. Obviously your money will be used to pay to smaller investors and some of the payouts still continue at the moment of writing this. You must understand though that if the admins ignores his biggest investors and don’t pay to them others will follow pretty soon.

I have received an email from the admin of BarterCrown today where he asked me to move his program back to Paying status on MNO. At the same time he’s still insisting that those members of BarterCrown whose accounts were allegedly hacked were not so computer savvy and that it was entirely their own fault. So what’s the issue? Just disable the changing of account names in the members’ area, that’s it! Or is it just simply too convenient to have some “hacker” at hand to sustain the cashflow a longer time? Well, I refused to move BarterCrown back to Paying status until those members whose accounts were robbed/hacked/cheated are fully reimbursed like they deserve. Before that happens there can’t be such a conversation at all and such attempts of “hacking” are simply insulting to investors’ intelligence. They are not so stupid as the admins think and deserve better treatment. As you know MNO does not tolerate selective payouts so BarterCrown will stay in Problem status. I would also not advise to make any further deposits in BarterCrown as the complaints are piling up and the admin is not trying to do anything to rectify the situation and just feeding us with lies.

One rare piece of positive news for today would be that of the profit made for the members of Verifield (reviewed here) by its administration. Verifield has been online since March 2009 and it’s online for almost a year. It’s still paying well on expiry for all the offered plans: 103% in 3 days, 108.4% in 7 days, 139% in 30 days, 196%-208% in 60 days. So today it was announced that Verifield accrued some good profits from their stock market deals and all the details can be read below:
“Making some profit with China Automotive Systems Inc. (CAAS)
Nowadays, everyone realize the actual potential of Chinese Economy, including the automotive sector. Country where some houses being built in one day, could also deliver big profit opportunities throughout the trading session. Verifield have chosen automotive sector since China is already on their way to become one of the major players on this market along with strong recommendation from trading advisory (by Maxim Group, etc). It is only the matter of time. Purchased at $17.98 per share in the morning, sold at $19.58 per share in the afternoon. Overall profit – 8.8%”.

Today I has been paid from the following programs:
EuroNanoInvest, HugMoney, BiotechInvFund, ScootFx, DynFxTrade, NasMos, Verifield, Skinex, MandarinInvest, ACEEntertainments, Dragadox, GeniusFunds, Aballong, FinanceNova, PanaMoney, InvestProxy, InvestoFin, IncoForex, AtoxFinance, BostonVenturesBillionairesClub, CSMFinance, AsiaInv, OneDailyPro, AimTrust, WWFD, Eternidex, AlphaInvestments, InvestAward, WestFinance, RedOrchidInvest, DepositPalace, IntraTraders, TheKapital, WeeklyDividend, GlobalFund, StarkFund, Plents, PTVPartner and WaterInvestment.