05/04/2010. TrueEarn Review and Other News

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

Hi everyone! I know that today’s still a holiday for a lot of readers, so if it is I hope it’s going well and your enjoying it. I think a lot of the admins are taking it easy as it’s been a lot quieter than the usual Monday on the news front. I’ll get to all that in a few moments but one admin who I can tell you is definitely not sitting back with his feet up today is that of TrueEarn. That’s a brand new short term HYIP that started trading over the weekend and I have to tell you, this one is getting hot fast!

Ok, so that’s not exactly a headline. A lot of you already know just as well as I do how popular programs like TrueEarn can become. But the speed at which they’re taking off is starting to turn a few heads. But to be honest I’m not all that surprised, as the program looks pretty good to me. Better than average and better than a lot of the newer HYIPs I’ve seen on various forums and monitors over the last couple of weeks. In fact I was surprised that even already (new as they are) I’ve gotten some positive feedback from readers who have joined, so it looks as if you don’t need any encouragement to sign up. But I’d like to take a closer look at some of the basics here anyway, just to see if they’re as good as many of you seem to think.

So starting at the beginning TrueEarn has three fairly solid and profitable investment plans. Difficult to predict how many cycles they could run for in the hands of the right admin precedents are there when other programs offering something similar ran for months. Now I’m not the one telling that’s going to happen here, but in this case I would suspect the admin to be an experienced one who knows what they’re doing. Just a hunch.

The first of these three plans is open to a minimum investment of just $5, so already it’s more than affordable. The investment term is for 4 days and on expiry you get paid 116% interest. That figure includes your deposit so if you were to let’s say join with $100 the total and final amount you should expect back from TrueEarn would be $116. Simple, eh? The maximum amount you are allowed to invest with here is $14,000.

And that’s pretty much the way it is for the other two plans as well. The second one is only open to deposits of at least $50. It runs for a term of 10 days and on expiry pays 145%. Once again that already counts your principal so the same $100 spent here nets you $145 in return at the end. Maximum spend is $20,000.

The third plan runs for 20 days. In return for it being the riskiest plan it’s also the most profitable. And although the price of joining it does go up I’m pleased that the admin has decided to keep the minimum investment at a reasonable level. The minimum investment is $100, and while I know some of you would balk at that it’s not a ridiculous amount of money for a lot of you so I expect it will get a couple of takers. Many other admins would have set it at a figure five times that. Anyway, the plan itself runs for 20 days and you get paid on expiry. The return is 210% which also includes your principal. Meaning that a minimum spend of $100 here will get you back a total figure of $210 on expiry. The maximum investment in this plan is $26,000.

A couple of other things you’ll need to know about the plans is that first of all the selection of payment processors which is excellent and has something for everyone. AlertPay, LibertyReserve, PerfectMoney, SolidTrustPay, and StrictPay are all included and it’s good to see the TrueEarn admin make such a wide variety available right from the very beginning. I guess he knows what people want and decided to give it to them right from day one. You are requested to allow them 24 hours to complete your payment after you have requested it. Payments are made seven days per week, so for added convenience there’s no need to wait around on weekends.

The security of TrueEarn is also better than the usual short term HYIP with 256 bit SSL encryption being used. It’s certified by Comodo. In addition to that they are also hosted on a dedicated Staminus server supported and protected by DdoSWiz. And the script is under license from GoldCoders. Customer support comes in the form of an online e-mail ticketing system. So far they in my own short experience with them they have been nothing less than polite and efficient, and pretty quick to answer any questions no matter what time of the day or night you may have them. The layout of the TrueEarn website overall is quite nice. Very attractive and professional in appearance, and while I don’t attach too much importance to that first impressions are always a much bigger thing for short term programs like this one to make. It’s easy to navigate and explained well enough.

And then we get to the outside business activities of TrueEarn, which turn out to be the favorite hobby of most HYIP admins these days – ForEx trading. Now I personally am unaware of international exchange rates fluctuating to such a degree as to offer profits the size of what TrueEarn is paying, but there you go. Up to yourself entirely what you want to make of that or how far you’d like to pursue the admin on it (my guess is not at all). But we’re all adults here so no need to start pounding all the usual safety tips into your heads about the risks on online HYIPs. You know what they are, but if you like TrueEarn then you’re going to join. End of story. But in the interests of fairness I’ll tell you again that the way to reduce the risk is to join as early as you can and try to keep it at a sensible amount that you can survive without in the event of a problem. But I’d be surprised if this doesn’t turn into a huge hit, and soon.

OTHER NEWS FOR TODAY.

As usual I was regarding PTVPartner when asking the members not to redeposit into the program while they continue to be dogged by technical difficulties. Recently the admin of the program Garrett let everybody know that all the issues had been fixed:
“*** Status of Accounts *** All payouts are completed for today. All duplicates have been removed or edited. All pendings are done.”
Apparently that wasn’t quite true and today the site is inaccessible again due to some database issues. The site has been really struggling lately and obviously no one can deposit if the site isn’t online. The latest downtime today will only raise more doubts in the investors’ minds about the security of the program and ability of the IT team to fix it. And not to create a wave of panic among investors. You know that I don’t like to predict the future of any program as big as PTVPartner, however all the recent issues coupled with the overdue payouts which have been pending again for over 48 hours which is outside their promised timeframe makes me think that everything is not as good as described by Garrett in the latest updates. In my opinion, PTVPartner should really concentrate more on fixing their problems as it’s hurting them significantly. Of course, at this point it would be absolutely insane to throw more money into PTVPartner despite all the admin’s promises. Due to the unstable work of the website I would recommend to wait till the site is back online and then give them a week to make sure all the payouts are back to normal. I was thinking to move PTVPartner to Waiting status on my blog tonight but since Garrett replied to me and explained the situation I will give him the benefit of the doubt and will keep them as Paying for another 24 hours. To understand what’s happening with PTVPartner (I received many concerned e-mails from MNO readers today) I will give you two updates. First is the one that the members received via PTV chat today and re-sent to me:
“The database is undergoing extensive updating. You may find errors in amounts showing in your Investment Account and withdrawable Money on the default login page, some showing $0 where you know you have deposited or had a plan mature. This is part of the database repair procedure. This work should be concluded by Tuesday midnight. Please be patient while we make PTV better for you. All funds are safe. Please do not send tickets while this process is going on. This will only slow the process.”

And here is the email I received from Garrett today explaining the cause of more trouble that his site is experiencing today. Let’s hope that it will be online soon just like he promised me and all the investors but moreover, let’s hope that the payouts will resume soon:
“I know what you must be thinking, But I assure you this is nothing more than a necessity to correct all the issues created last week.
When i wrote last week the duplicate issue was corrected…. I misinterpreted the info from IT. They had installed a temp correction to find and delete and re-balance accounts. But this created even more problems. So we took the site offline. We are correcting the script (actually reverting it back to a previous issue) Adjusting the accounts. Some deposits made did not reflect in investment accounts. Some investments that matured did not post to withdraw accounts. Some referral fees continued to get paid. It is a major headache, but we will correct it. I have re-hired the original script creator and he has been working all weekend to correct the issue.
We are also taking advantage of the downtime and Moving our database to another server. Actually separating it form the main site. So it is going to be as I said a cluster setup. This will make it faster site and even more secure.
This is not a cashflow issue. This is not a going away party.
We hoped to be live by last night but ran into some server issues. They are being corrected as I write this. I expect, better say hope, to be online later today. But rest assured we will handle this and be back online as soon as possible. everyone here is working extremely hard to solve the problem. In anticipation of corrections I just paid tens of thousands of dollars to continue our advertising efforts at talkgold among many others. feel free to verify.
I know this sucks, and it may seem like the same old song and dance, but it is not.”

Due to Easter Monday which is an official holiday in several countries many programs that trade Forex didn’t pay any interest on members’ accounts today. One of them is PanaMoney (reviewed here) currently ranked #1 on MNO which is completely back online after some recent downtime issues and is still paying fast on all the investment plans including 0.5%-2.8% for 16-180 trading days with principals returned on expiry. There was a short update made on the PanaMoney website on that:
“No trading on this day. The Easter Monday in United Kingdom.”

There was a more extensive update regarding this posted on TheKapital site (reviewed here). It actually explained in more detail why the interest is not paid on members’ accounts:
“Holidays in UK (Easter Monday)
We would like to inform you that due to the holidays in United Kingdom (April 05th – Easter Monday) our trading desk is closed for business. According to our terms of service the profit is paid on business days only. Weekly profits will be paid the next business day. We wish you a pleasant holiday.”
I remind you that accepting all the popular payment processors TheKapital pays you 1.5%-2.2% daily and 8.2%-9.2% weekly variable interest. TheKapital already #10 on MNO monitoring page and continues to climb having been monitored on MNO since September 2009. More about the program can be found in my extensive review published here.

Another program that also reminded us that today is a non-trading day is WestFinance (reviewed here). Currently ranked #6 on MNO the program published this short update regarding the off-trading days on its site already on Friday. Here is what you can find in your WestFinance account:
“Friday 2nd April and Monday 5th April are Good Friday and Easter Monday, OFF days for UK traders – So No Dividends disbursed on those dates.”

It’s very possible that the cashflow of Cashift (reviewed here) is slowing down as the admin of the program just announced a referral contest obviously to attract more attention and money to his program. I guess the success of this contest will determine the future of Cashift which has been paying for over 3 weeks already on the following investment plans: 10% for 12 days with daily payouts and 135% after 12 days with the payouts processed on expiry. Anyway, when the results are drawn in a week three lucky winners will get $175 in total from Cashift in addition to the generous two-tier referral commissions of 6% in total. So enjoy the contest and I hope you win (don’t worry, as a monitor MNO is not allowed to win so you definitely have a better chance). I wish you all good-luck! Here is the latest newsletter from Cashift:
“How are you? To make our program more interesting, we decided to launch today the very first Cashift Referral Contest. This contest aims to make members become active in promoting and referring their referral links so people will sign up under them. This helps keep our program stable and at the same time enable members to make some money from referral commissions. Remember you should have an active deposit in order to earn referral commissions from your downlines.
This is very exciting because there will be prizes. 1st prize is $100, 2nd prize is $50 and 3rd prize is $25. This is just the start of some very interesting contests that we, at Cashift have in store for you. Of course, as we move along, the prizes will get better and BIGGER. This is just a primer so let’s begin this contest now.
We do have some rules to follow. Please no spamming of your referral link. Then also monitors whom we paid for their services are disqualified to win in this contest, although their referrals will be tallied in the top 20 page. If you are a monitor, you can still win, as long as we did not pay you for your services or you monitored us at your own expense.
This should be very exciting because the contest will run from today April 5, 2010 until April 12, 2010 (23:59hrs). Prizes will be sent directly to the payment processor that the winners want the prize to be sent to.
So let the contest begin! By the way, here is the link where you can see the Top 20 referrers http://www.cashift.com/?a=refs10 . So see if your name is already in the top list.
Much Regards, Owen Dawson”.

Please be aware that the layout of MNO blog will be changed very soon due to inability of the current theme to work correctly with Internet Explorer browser which is still being used by over 20% of MNO readers despite its obvious security flaws. I respect all of my readers so I have decided to change the layout a bit so the site would be properly viewed in all the browsers. Please give me your suggestions if you like it or not to my email abramsonp@gmail.com I’ll be looking forward to getting your feedback, guys!

I have been paid today from the following programs:
TrueEarn, XZFinance, AtlantisMutual, SureBetInv, WestFinance, PanaMoney, Aballong, ArbsTeam, WaterInvestment, FinitInvest, MasterTraderClub, AtoxFinance, CottonFunds, Cashift, HighYieldClub, InvestProxy, EzProfit, IntermedInvestments, GoldenInvestment, YesInvestment, AvaInvestment, MyGrandFunds, OneDailyPro, ForexNetClub, GarantMoney, PrimaryPool, StereaFunds, Verifield, RedOrchidInvest, InvestAward and Forex4Expert.

That’s it for today. I hope to see you all on my blog tomorrow when business should be back to normal after the holidays. Hope you’re all rested well just like myself!