14/09/2010. FxTradingWorldwide Review Daily News from the Industry

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

Hi everyone! It’s been a pretty rainy day here in Amsterdam and even now I can hear the rain lashing down on the roof again, so not much nightlife to enjoy this evening. But I’m still feeling strangely mellow. Must be those funny muffins I got in the bakery. I knew they didn’t taste like chocolate, lol! Anyway I’ve got an early start tomorrow when I’ll be leaving to city and exploring the Dutch countryside a bit more so I guess getting wrapped up in my new Ajax Amsterdam shirt and putting my feet up is probably the best thing to do on such a stormy night. I have a couple of things to keep me occupied here anyway, though there isn’t all that much news to report. It’s been a fairly quiet day in that respect but there is one new addition to the MNO monitoring page that I’d like to describe for you in a bit more detail before we get to what news I do have.

It’s called FxTradingWorldwide and with over five months experience behind them it can hardly be called “new”. I know that many of you have mixed feelings about joining programs like this and it has to be said there are indeed both positive and negative factors to consider. However up to this point they have been using mostly lesser known monitors and their advertising has been low-key at best. So there is the possibility that the program has in its admin’s opinion been flying under the radar for too long and he wants to try raise awareness of it now. Anyway, nobody can spend your money for you so just make sure to research the finer points of FxTradingWorldwide yourself and make sure you are satisfied with what they have to offer before proceeding. But as far as any review is concerned you need to remember that I can only assess the program as it exists today. Whatever you read here today may be of less relevance tomorrow.

So if you do look into them a bit more then the first thing you will need to know is that FxTradingWorldwide have a variety of plans ranging from short to long term. They are all low ROI however so even the short term plans don’t pay out that much, but they also don’t ask you to commit your principal to long investment terms running for several months or more.

Their first plan runs for 7 calendar days and accepts deposits from $1 to $500. Daily interest payments of 1.5% are made on business days only so your final profit will come to 7.5% with your principal returned.

The second plan runs for 15 calendar days with payments again being made on business days only. The minimum investment is still a bargain basement $1 with a $2,000 maximum. Interest rates are 1.6% per day (Monday to Friday) bringing in a total if 17.6% profit in addition to your principal which is then returned.

After that we start to see some more mid to long term options. Starting with a 30 calendar day plan FxTradingWorldwide has this broken into two sections with deposits from $1 to $99 earning a daily (Monday to Friday) rate of 1.75% which earns you a total profit of 38.5% on top of your principal and a rate of 2% on deposits between $100 and $5,000 which would get you a total profit of 44% on top of your principal.

FxTradingWorldwide then have a 60 calendar day plan also broken into two sections. Smaller investors spending from $10 to $999 can earn 2.25% interest per business day (99% total profit) while larger investors prepared to risk $1,000 to $10,000 can expect 2.5% per business day (110% total profit).

The last of the daily payment plans runs for a 90 calendar day term and also only makes payments from Monday to Friday. For deposits ranging from a $100 minimum to a $999 maximum FxTradingWorldwide are offering 2.75% interest per business day (total profit 121%) and of 3% on deposits from $1000 to $50,000, leading to a total profit of 132%.

And finally we get to what FxTradingWorldwide describe as The Special Plan. This will cost a minimum of $1000 to join so I guess interest is going to be a bit limited. If you did join however the plan runs for 14 days and makes just one single payment on expiry of 125%, or 25% profit. Maximum spend is $3,000.

The choice of payment processors is a bit limited to say the least with just LibertyReserve and PerfectMoney in use. I guess that’s typical of low ROI programs and at least the big variety of investment plans kinda compensates a little. Withdrawals are manual so will need to be requested. The admin asks you to allow up to 24 hours in order to get it processed. Compounding is allowed but the amount varies from plan to plan, so if you’re a fan of the practice then see the FxTradingWorldwide website for more detailed information.

The security is pretty good though with Dragonara as the hosting provider who are widely acknowledged as one of the best. SSL encryption is also in use throughout. The script is under license from GoldCoders and the website is translated into several European languages including Dutch, French, German, and Spanish. If you have any comments or questions for the admin then you can get in contact by filling in your details in the online form and submitting it.

FxTradingWorldwide is hardly an original name, but as the name suggests their alleged line of business isn’t all that original either. ForEx trading seems to be the first choice for so many online HYIPs though personally I have my doubts as to whether the profits to be made in that business are anything like what the HYIP owner’s would have you believe. Anyway, it’s just another aspect to the program that you need to satisfy yourself about before proceeding. Personally I have little confidence in such claims but freely choose to play the HYIP markets anyway. You’ll never make anything without taking a risk, after all. But if it’s important that you see some real business backing up the (any) program you wish to join then solid evidence of those claims is pretty scant here.

I suppose the million dollar question here is that after five months online is FxTradingWorldwide still worth joining? Well as I said everything is a risk in this business and you’re simply not going to get anywhere without taking one. The same applies here. By the way, and I don’t like to end on a bad note but it should be noted that there have been some recent bad votes on the main forums in relation to this program. Let me stress that I haven’t personally seen anything to support the claims being made, but if it applies to you and you have something to say and are prepared back it up with solid evidence then get in touch. Other than that I suggest you approach FxTradingWorldwide with the same caution as you would any online game and not start spending beyond your means.

DAILY NEWS FROM THE INDUSTRY.

I haven’t heard anything new from Flamanta for a long time, however the payments continue daily like clockwork. In the vast majority of cases the payments to both LibertyReserve and PerfectMoney were processed instantly, and only very rarely within a few hours after the request. I guess that it’s a good sign of stability and gradual growth. Anyway, I guess you cannot continue all the way without giving some kind of update to your members to keep interest ticking over. Since Flamanta was considered by many as the new GeniusFunds due to the the similar website design and offering similar investment plans (1.72%-1.78% for 150 business days, 1.84% for 160 business days, 1.92% for 180 business days) that was expected that the administration would issue some updates once in a while. The admin of the program already gave an interview to MNO (you can read it here) where he explained the plans perfectly well, but it appears that some members have more specific questions regarding the program. Perhaps Flamanta is really getting some high attention because they have now introduced phone support in the latest newsletter in addition to the live support and email which are available along with some comprehensive website content. Please only use the phone support if you didn’t find the answers to your questions in my detailed review of Flamanta (published here) or on its website in the appropriate sections marked in this update:
“Hello. Sometimes our clients can not find answers to their questions in sections “Step by step” and “Tips”. Earlier you could use the online chat. However now if the online chat does not satisfy you may contact our advisor by phone and we will answer all your questions and provide a qualitative consultation. We care about every client, and do our best to make both beginners and big investors feel our support and be confident in their actions. For this we will always be ready to help you in all your doings by consulting you by phone.
We have an English speaking advisor.
Phone: +1 (888) 490-54-50
Our working hours: 9:00 to 17:00 GMT
Please understand the possibilities of the phone support and do not ask the questions, which are already listed on our site.”

As it was promised earlier the website of WorldPrivateFunds (reviewed here) became bi-lingual today. According to the last email from the admin Samuel (interviewed here) a professional translation to German has been added. While I can’t confirm the authenticity of the translation (as I can’t understand German) I’m looking forward to the Russian version of the website which hopefully will be launched soon as well. Here is the latest news from WorldPrivateFunds:
“As I promised, I added right now the German version for our site.
Russian version will be added in another few days, probably on Saturday, Sep 18th.
Have a nice day!
Kind Regards. Samuel Arildsen
WorldPrivateFunds Admin”.

I have been paid today from GloTrade (reviewed here) on my 150% after 15 days plan. So after two successful cycles with the program I decided to try my luck and invested into the 200% after 25 days plan. The reason: the shortest plan paying 110% for 5 days is paying too little and considering I’m in profit from GloTrade already I’m not interested in play it for such low reward now. As for 300% after 40 days I believe that it’s not so good if you consider risk versus reward ratio compared to the 200% after 25 days plan. Anyway, after 3 weeks online GloTrade is still paying well and I will be looking forward to doubling my next deposit in 25 days with them.

It looks like Forexica website is not available for the second day in a row. I still believe there might be some technical difficulties with it and that it may be back soon. However, at this moment I cannot keep it on Paying status on my monitoring page anymore, so I moved it to Waiting status for the time being. I hope that the admin of Forexica will find the time to explain the situation with his website as I just contacted him a few hours ago. I will keep you updated on my blog regarding the situation.

Unfortunately GlobalTradeManagers and NovaFx are both confirmed scams now. The site of GlobalTradeManagers is still online but removed the Rating page and has many pendings. But I analyzed the situation with them on my blog yesterday already so no need to repeat myself. As for NovaFx, the situation was kinda different as I managed to get through and spoke with the admin on the live chat before finding out that the program disappeared today completely. I guess that he was quite honest and open about the bad prospects for his program. Again, the conversation with him only confirmed my guess that the HYIP industry is far from recovery at this moment and that it could take weeks or months before it’s back to normal. I remind you that I thought the same and considered that HYIPs would be back to normal by September while my opinion has been changed since then (actually 68% of MNO think the same and voted for it in my last poll located under the Shoutbox). For the sake of telling the truth and considering that NovaFx is gone already though had all the chances to become big if it launched at a better time I’d like to give to you some quotes from our chat on Live support in NovaFx site yesterday. So here they are:
“Benoit Vorsselmans: Hello Paul, yes indeed are pending for 72 hours, but as you may know in our terms, the time needed is up to 72 Business hours.
Benoit Vorsselmans: the problem appear to be that things are not going very well, in fact are not going well at all, there is a lack of investors, a big lack …
Benoit Vorsselmans: I am thinking what could be done, look in the past days the investments was less than $100, in fact the whole last week wasn’t more than $100. How do you think it could survive specially since the monitors are draining out the funds without doing too much activity.
Benoit Vorsselmans: I’m not saying about money-news-online, i’m talking about the sums, more are going out then are coming
Benoit Vorsselmans: this is what I meant
Benoit Vorsselmans: there was the tight season, in Summer, but I was expecting that with the Autum, the industry to revive but looks like it can’t revive
Benoit Vorsselmans: do you have any idea how do you think that Nova could survive?
Benoit Vorsselmans: I don’t know either how this could be solved. I was hoping that it will work by itself at least in this tight period
Benoit Vorsselmans: I believe the best solution will be to wait for several days to see how are going things here before I should take a decision.
Benoit Vorsselmans: I understand your position
Benoit Vorsselmans: but I hope you understand my position as well, since being already in quite a big due, it’s own killing to continue like that
Benoit Vorsselmans: since there are not any, NOT ANY signs of recovering here
Benoit Vorsselmans: I can’t know about other programs, which frankly I suspect being in the same bad situation, but I’m talking about NovaFx”.

As you can see from the excerpts given to you above the admin of NovaFx simply had no other choice but to close his program simply due to an almost complete lack of interest. It appears he erroneously believed (just like me in summer) that the HYIP industry would be back to normal by autumn. It appears that the situation didn’t improve for some programs at all. So you can draw any conclusions by yourselves after seeing these excerpts but I can draw only the following – the HYIP industry is very far from recovery at this point. Anyway, please keep voting in my poll as your opinion matters.

I have received the interview answers from the admin of UniteTrade – a sensational short-term program that pays on two investment plans (120% after 7 days and 150% after 15 days) for over five(!) months already. I bet you all want to know how the admin explains such a great lifespan and hopefully we will be able to get some answers to that tomorrow. If you want to find out more about UniteTrade don’t forget to check my review published here but keep in mind that my opinion about the program changed to a more positive one since then as some improvements were made.

I have been paid today by the following programs:
FxTradingWorldwide (the first payment received), FundsOMatic, OnyxInvClub, RedOrchidInvest, 144CashAds, YamaFinance, Vodapex, ReProFinance, MajesticMoney, FutureTrails, WorldPrivateFunds, OilStructure, FiboTradePro, VividTrade, EzProfit, OptimumPride, GloTrade, SignalTraders, CherryShares, PawnShopFund and Flamanta.

There is a new program added to my monitoring list today. The program is called YoKapital and it has an interesting twist. I just recalled OilStructure when I first saw the plans they are offering: 1.8% daily for the first 30 days and 2% starting from the day 31 and upwards. There is no expiry date but you can withdraw your principal at any time. Some fees will be applied should you wish to leave in the first month but anytime after that you may receive the full amount back on request. There is only LibertyReserve and PerfectMoney accepted by YoKapital and you can deposit by purchasing shares each of which are priced at $1. Strange but the maximum deposit in YoKapital is limited to a relatively conservative $1,000 while the minimum is quite affordable at only $10 (I guess that was made to improve sustainability). The script being used by the program is Neversay, however is quite customized so I didn’t recognize it at first glance. Other important features of YoKapital worth mentioning: hosting on a dedicated Staminus server, SSL-protection, very nice layout, phone support and a contact address in the UK. More detailed information on it will be in the upcoming review which you should expect to see on MNO very soon. Stay tuned for that, guys!

That will be it for today. I will see you on MNO tomorrow when I’ll have the long-awaited interview with the admin of UniteTrade. Please take care and stay positive whatever happens!