30/10/2010. FxEconomy Review and Daily News from the Industry

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

Hi guys! As promised recently I would like to take a closer look at a recent long term investment program called FxEconomy, now that I have received my first interest payment from them and can confirm that they are paying. And at a time when so many of the new programs being launched are short term games it is refreshing to see something a little different – even if it is fairly standard as long term programs go – to consider diversifying your portfolio with.

I say it’s a fairly standard program but that’s no bad thing and don’t be put off. FxEconomy‘s plans are quite sustainable if managed correctly. There’s four investment plans to choose from (or four variations of one plan depending on how you want to look at it) paying fixed daily interest payments according to how much you’d care to spend. Several of these options I have to say are well beyond the financial means of most online investors and far too expensive to recommend them anyway, but that’s up to you so let’s take a look and see if you think something might be suitable.

All investment plans here run for a term of 150 business days – that’s 30 weeks – and make payments from Monday through Friday only. The first of them is called The Starter Plan and is open to minimum deposits of a relatively high $20 with a maximum of $1,000. Interest payments are made at a rate of 1.3% per day, five days per week, for the duration. At the end FxEconomy will then return your principal.

So if we take a simple example of a $100 investment you could earn $1.30 per day, $6.50 per week, break even after 77 payment days, and finish with $195 in profits which can be counted as such once FxEconomy returns your principal.

After that the remaining investment plans get less and less attractive due to their prohibitive cost, but I guess that will be your decision and I’ll just leave you with the facts. The second plan is called The Light Plan which I have to say is an amusing play on words as the only thing light will be your wallet – minimum deposit is $1,000. In exchange that will bring you 1.5% interest per business day (7.5% per week) to a maximum return of 225% on expiry which can be counted as profit once FxEconomy returns your principal.

The Business Plan, which just like the others runs for 150 business days starts by taking donations of a $5,000 minimum. In exchange you are offered 1.8% daily interest per business day, principal returned on expiry. Maximum spend $20,000.

And finally if the last plan wasn’t for information purposes only then this one definitely is. For 150 business days The Professional Plan from FxEconomy is offering 2.1% interest per day. Maximum spend is $500,000 and principal is returned on expiry.

The payment processors accepted by FxEconomy are LibertyReserve, PerfectMoney and AlertPay. Payments are manual so will need to be requested. The FAQ page states that withdrawals are processed twice per day on business days and just once at the weekend. Please note that you won’t actually earn anything at the weekend, but you can withdraw. And if you have a certain level of confidence in the program and think it’s going to last then you can set your own level of compounding and earn a little extra.

FxEconomy is running off a licensed GoldCoders script with some modifications. Keep in mind that it’s not a very new program but has been running successfully for almost two months which isn’t really that old when considering the length of the plans. It’s hosted on a dedicated Staminus server with DDoS protection provided by GeniusGuard – a name not widely known to many HYIP admins but which successfully hosted several good programs in the past. SSL protection is also in place and so it can be considered quite a safe website. Customer support is available in a wide variety of contact options. The usual support ticketing system is there for you to fill out your details, as well as a direct e-mail address. There are also a number of telephone lines that include a 24 hour message service and a fax number, though who exactly needs that for an online based scheme I don’t know. The FxEconomy website is translated into a number of different languages, however after having a quick look at the Russian version I can tell you it’s just an auto-translator and not very coherent.

It’s not a bad looking website overall and very neatly and professionally put together to make it easy to use. However to say FxEconomy are a little thin on background information about their business and investment activities would be an understatement. Not that I personally attach too much importance to these things anyway, but if you do then it’s up to yourself to research them to your own satisfaction. I would just suggest that you disregard any mention that either your principal or your profit is in some way guaranteed. For the admin perhaps, but definitely not for you. I mean if LibertyReserve don’t offer such a guarantee then FxEconomy shouldn’t really do so either.

But they’ve had a decent track record up to now with no complaints and no major problems to speak of. Continue as they’ve started and FxEconomy might prove an ok spot to drop a few dollars as an affordable way to diversify your portfolio.

DAILY NEWS FROM THE INDUSTRY.

Before proceeding with the news I would like to apologize for the lack of it last night. I was quite busy and it was Friday night so you might understand me. That is one of the main reasons the update for today is being published earlier than usual. Since I have to catch up with the news for two days I decided to do it earlier and to deliver it sooner.

So let’s start with another newsletter from the undisputed leader of short-term programs – UniteTrade (reviewed here). Having been able to pay everybody on two investment plans on expiry (120% after 7 days and 150% after 15 days) for over 200 days already to LibertyReserve, PerfectMoney, AlertPay and SolidTrustPay the program deserves some sincere appreciation from the investors. The latest fact made some “experts” claim that UniteTrade might collapse soon according to their very high Alexa rating. Surely Alexa has always been a very useful tool to evaluate a program’s traffic but in no way could it be considered by a reliable source of info because it’s only showing visitors with an installed Alexa toolbar on their computers and also can be easily manipulated. Also it can show you visitor statistics but can’t tell you how much money exactly people deposit there which can be kinda misleading as a program with a low level of traffic can have very high deposits. The opposite is also true as a high traffic volume doesn’t indicate that the members are depositing high amounts.

So the conclusions from “Liegao” style experts cannot be taken seriously, especially when they are coming from admins running their own programs and cheerleading for some shady other ones. This could lead me only to one conclusion – they are afraid of the honest competition with UniteTrade because for almost 7 months since the program first came online I have seen dozens (if not hundreds) of short-term programs claiming to be the next big thing. And where are they now? Poof, disappeared, scammed and sometimes not even lasting for a cycle. While UniteTrade is still going strong and has more and more deposits with each passing day. Of course this situation is not very convenient for all types of scammers who try to damage the program’s good reputation that has been earned during those months. I know past performance is no indicator of the future results and as with any short-term program UniteTrade is a still a high risky. But we can’t also deny that despite all the jealous people’s efforts the program is still going strong and is paying instantly, I repeat, despite all the naysayers, blackmailers, hacking and phishing attempts which would bring any other short-term program to a complete stop in no time. But it’s not the case with UniteTrade which only made us think that the admin of the program is a real professional who knows how to make money for the investors even in a harsh HYIP climate. So if want to read more about UniteTrade I welcome you to see the interview which was published on MNO 45 days ago (click here to read).

However many things changed since that interview was published and many readers asked me to conduct a second interview with Andy, the admin of UniteTrade. I believe it’s the right time to do so now and so with Andy’s kind permission I’m going to send him a few questions next week. However, I would not like to repeat myself and submit questions which were already answered (except basic ones about plans and payment processors). So I have an idea to make the second interview as a Questions and Answers session with the readers of MNO which Andy has agreed to (if you remember I did something similar with GNI many months ago). It has very many supporters and the recent achievement of 2,000 members being registered on their forum is ample proof of that. So if you have any questions to the admin of UniteTrade please submit them within the next three days to my email abramsonp@gmail.com with the subject “Questions for UniteTrade”. To make it sweeter for you I will ask the admin of the program to choose the best question he liked most and I’ll reward that reader with a prize of $10 to his/her account. Please also be vigilant enough and do not submit questions about Forex income as we all should be perfectly aware what UniteTrade is and I don’t think it’s appropriate to insult the intelligence of my readers with unnecessary nonsense. We all know exactly what’s really going on here and We should only take UniteTrade as a very successful HYIP and try to find out the secret of its success. I think that will be the main goal for this interview. So I will be looking forward to your questions to Andy, guys, and good luck winning the cash prize!

Let’s get back to the most recent newsletter from UniteTrade now. Last night when it was first sent the site’s layout was still the same, but already today I think many readers of MNO noticed some very positive changes in its design. The total layout is different now, including the promotional banners. The new testimonials page is up, the payment proofs page is up, the links to the major topic discussions on UniteTrade‘s forum added, the phone numbers with multi-lingual international support added to a more prominent position and even the MNO review and interview banners are totally new and suits the design. I believe this second facelift during the last couple of months will be appreciated by many investors as it will make the site more user-friendly, convenient and easy-to-use and attract more new investors as a final result – in fact I have no doubt about it.

Another very important issue that Andy emphasized in his latest newsletter was security issues. As with any other enormously popular program UniteTrade is a very lucrative target for the many crooks that populate the HYIP business. The recent scamming tactics when spammers send out some phishing emails in order for you to change your API in LibertyReserve so the hackers could have easy access to it and empty your savings was already described by me a couple of times and was used by the admins of such fast-folding scams as PremiumGain and DigitWallet. So this time the admin of UniteTrade warned everybody from actually helping the scammers to empty your own LR account by sending out some phishing emails the example of which was given in the newsletter republished below. Please note that the only email address communication with UniteTrade is possible with is always admin@unitetrade.com and all others received by from different addresses should be treated with extreme caution. Needless to say you shouldn’t follow any instructions given to you in such emails.

There were also some attempts to get access to members accounts recently which could be very dangerous due to the instant nature of the withdrawals. So in addition to the administration prohibiting making any changes with payment processors accounts it’s now also banning members from making any changes to their accounts whatsoever. The only possible way to do so would be submitting a valid ID document with the name which should obviously coincide with the name given in your account. I believe after that the security level of your account in UniteTrade will become even stronger and the hackers will definitely have a tough time in breaking into it. Certainly, it doesn’t mean that you may use the same username and password you already used in another program due to many HYIP admins being the worst scammers ever. So please maintain the necessary security precautions when dealing with any HYIP in general and UniteTrade in particular.

These were the main points of the most recent newsletter from UniteTrade sent to all the members and which is republished in full below (please read attentively):
“Hello UT Members, Hope you all have enjoyed/are enjoying your day.
UniteTrade has been online for 208 days now, and as we had promised in our last newsletter, we will be giving UniteTrade a completely new design, in a few hours. The new design will be really amazing, and we will have a separate payment proofs page, where the latest payments from UniteTrade will be shown. The payment proofs page, which will contain both the small and big amounts being paid from UniteTrade, will itself be the biggest proof for us, to show the world, how strong, valuable, trustworthy, and reputed, UniteTrade is.
In addition to this, we will be having a Testimonials page, where our members will be able to express their feelings about UniteTrade. We would highly appreciate your efforts, if you would spare a minute or two of yours, to write a testimonial for UniteTrade, about how UniteTrade has been to you all along, from the bottom of your heart. Let the world know your experience with UniteTrade, through your valuable testimonials.
Our forum is getting better day after day, with a lot of constructive discussions being carried on daily. We have close to 2000 members in our forum right now, and the member count is increasing day after day. A lot of members have already got paid for their posts, as per our PTP terms. So what are those who have not registered in our forum yet, waiting for? Register in our forum, be a prestigious member of our group, jump into the discussions being held, share your ideas, give us your suggestions, and get paid for your valuable contribution.
We have a couple of important security related issues to make you aware of.
It has come to our attention that some members/visitors are not being able to load our website. The most possible reason for this is, your IP address might have got banned by our firewall, due to huge activity on our server. If you happen to be one of them, or come across such a situation in future, you are requested to contact us, and send us your IP address, so that we may be able to look into the issue, and solve it as soon as possible. You can check your IP address here, www.showip.com.
It has come to our notice that, an individual has been sending out spoof e-mails to our members, asking them to make some sort of changes in their Liberty Reserve account. Please be advised that, this is a cheap tactic used by the sender of this e-mail, to gain access to your Liberty Reserve account, and hack the money you have in it.
A copy of the circulating e-mail send by this person, who is trying to hack into the accounts of our members, has been given below. ***********************************************
Hello UniteTrade members, sorry I was away for the last days and instant cashouts were not working.
Here is what you need to do in order to receive the further withdrawals from UniteTrade:
1. Login to your LR account, go to Merchant Tools.
2. Click on “Create new API”
3. Enter the following entries
3.1. API Name: Uxxxx
3.2. Sec. Word: Uxxxxx
4. Tick ENABLED
5. Tick TRANSFER
6. Tick BALANCE
Other values leave to default. Make sure you SUBMIT and save it.
You should be able now to receive instant withdrawals from us.
After doing so, please e-mail me back and we will fix this as soon as possible.
Andy
**********************************************
We advise every member of UniteTrade, not to blindly believe in such kind of e-mails, and thereby fall into the cheap tactics of such individuals. We will never send any kind of e-mails, asking you to make changes in your personal e-currency accounts, be it Liberty Reserve, Perfect Money, AlertPay, or SolidTrust Pay.
We have only one e-mail in use, which is admin@unitetrade.com and we will not use any other e-mail to contact you. So please always double check the sender of any e-mail that appears from UniteTrade, and make sure it is from admin@unitetrade.com to confirm that the e-mail is really from us.
We strictly advise every member of UniteTrade to be on alert, and to be on the safe side, as there will always be some evil individuals, who will try to hurt the high reputation of UniteTrade.
The other important security issue is that, please do not use the username, password, security question, or security answer, you used to register your account in other programs, to create account in UniteTrade. If you do so, the other program administrators, can make use of your account info, and hack into your account. So we strictly recommend you to create your account at UniteTrade with registration details different from what you used in other programs.
Owing to the said security issue, we have decided not to make any kind of changes to your account details, be it your username, e-mail address, or e-currency details, even upon submission of your security question and security answer to us. However, if you really wish to change the details pertaining to your account at UniteTrade, you will be required to submit your passport, or other valid document which proves your identity, to us, in order to make the required changes.
Stay tuned for the brand new look of UniteTrade, and be prepared with your testimonials for UniteTrade, so that you may submit them as soon as we get back online after the integration work of the new design. We are sure that you will enjoy the new look of UniteTrade.
Regards, Andy. UniteTrade.”

Many people asked me yesterday about my opinion on the recent changes in FundsOMatic (reviewed here). And just like anything in this business they can be seen in two different ways – positive or negative – depending on how you see a glass of water – half-full or half-empty. The main feature of this update is that due to outside factors the profits will be capped at 130% on both plans: 0.8%-1.8% for 200 days and 7%-14% for 26 weeks. I would like to see it explained on the FundsOMatic site though as I still can’t see these changes being outlined. But knowing Randy as a very experienced admin in the industry who never allows members to lose from his program I believe this step is really necessary in order to protect the stability and longevity of the program. Anyway, we should remember that from his previous program SurfOMatic all the members were in profit and that most likely will be the case here too, regardless of how these changes will be perceived by the community.

In private conversation with Randy (interviewed here) he explained some ongoing issues with StrictPay and AlertPay which he was facing and the unpopular measures that he had to force onto his members in order to make FundsOMatic a long-lasting and successful program. I understand the case and I was actually quite skeptical about the chances of a StrictPay recovery which was obviously not shared by Randy and some other readers who possibly prefer to see the glass as half-full in that particular case.

But regarding AlertPay, I don’t believe it’s entirely their idea to cap the profits at 130% so I would wonder if there’s more to this than we are being told. Otherwise, how could one explain programs like UniteTrade paying from 150% after 15 days plan for many months and never faced any such restrictions. Anyway, we can only speculate. I suspect that there were fewer redeposits recently which together with the StrictPay scam and AlertPay’s often unwelcome intervention made Randy act fast. As you can see, I prefer to see the glass as half-empty and always predict the worst possible scenario (it’s the safest way to avoid disappointment in the HYIP industry, lol!). In the case of FundsOMatic I could tell you that everything was fine and you should proceed as usual, but I don’t think this would be taken positively by many investors. Most likely many people will take it as a huge warning sign and will try to leave the program as fast as possible. Well, even if that happens Randy told me that he would do everything possible to put all members in FundsOMatic in profit (or at least break-even) and for some reason I tend to believe him. Maybe it’s because he actually achieved this with his previous program? Anyway, we will wait and see how things will develop further and here I just gave you my honest opinion of the recent changes and what could happen next. It’s your choice if you wish to support an honest admin or try your luck somewhere else and of course I don’t want to influence your decision. But it should be taken in your own interests most of all. This is the latest full newsletter from FundsOMatic to ponder over if you haven’t seen it yet:
“In an ever changing industry all too often things are looked upon as the glass half empty. Often when a change is made it will cause the out of control down ward spiral until eventually all is lost or unrecoverable. Before reading further read on with a positive mindset, This will be a beneficial for all situation.
Recently we have been dealt a harsh dose of reality by a payment processor who is imposing restrictions, as well as processors going out of business leaving us stranded or strapped between a rock and a hard place. This and this alone is is the cause of these changes. Please read in its entirety and then mail me should you have specific questions.
First the issue at hand, as most know StrictPay has “scammed”. Yes they closed shop and left with ALL of our money in their system. This was a recoverable event, however it does not stop there. Recently AlertPay has started to be deciding how some of us do business, from minor things such as charging a higher fee, even then posted on their site as a “high risk industry”. As well as more meaningful “rolling charge backs”, where they follow money and reverse all the way to first transaction. This can be proven even with out it happening to me. They are even imposing on us to pay any obligations to them first before other processors. (EXAMPLE ONLY: You invest 1K with AP and 1K with LR, They want us to pay 1K to AP before paying anything to LR.) This too can be proven. Simply open a support ticket to a well known FX broker FXOPEN, and ask simply [ Can I deposit with both Alert Pay and Liberty Reserve? What is the requirement to withdraw after depositing? ] Lastly they are requesting that we limit our returns to be 125-130% with a cap of 150% to include commissions. When speaking with with support on the phone I am told that this is with in their rights as we are a high risk industry and they are looking to protect their members. They want ensure that we are not laundering money or exchanging.
Due to these issues we have no choice but to conform. To make this a fair transformation for everyone we will make this change for all processors. Effective immediately there will be an earnings limit of 130%. All deposits will continue to earn at current rates until this cap is reached. Since I will need to verify this each time a cash out is requested I am going to be setting the time for cash out to be completed in 48 hours. This will mostly effect Monitors and Members who seen my past performance and had large deposits in the first few weeks and are just as most say “hit and run”. However they are already in profit.
All old StrictPay deposits and pending Strict Pay withdraws will be removed from the system. This will take a couple days to complete this task. Since they are no longer around this really has no effect other then to no longer see them in your account.
While the typical hyip admin would just take these issues and not communicate them I have been and continue to be different then most. This has tremendous benefits which outweigh any possible adverse ones. Should this adjustment be found unsuitable, I am more then willing to have discussions on alternatives. In a worst case scenario I will take the actions that I took in my first program where I will discontinue any deposits and continue on with payments till all are complete. In such as that event there will be no time frame for withdraws as investments will need to work.
Now that I hope you have read in entirety, I feel that everyone can see how this is only a positive step and will continue to make FundsOMatic competitive and even longer term then before.
RandyM”.

I would like to issue a warning about BrilliantsInvestment which stopped instant payouts today. And since it’s explicitly stated on the website that the payouts must be instant I have no choice but to move them to Waiting status on MNO monitoring. I don’t know if we’re having a problem here but most likely BrilliantsInvestment is collapsing. In addition, I can see some complaints on the forums that BrilliantsInvestment is currently paying selectively. So please do not make any further investments there, guys!
By the way, I just received a very suspicious email from BrilliantsInvestment announcing some bonuses for new investors. Please do not get caught by that as it’s too good to be true:
“We have launched new VIP plan! (for only 7 days)
If you make deposit to VIP plan today, you will receive 100% bonus in addition to the sum of your deposit, available for instant withdraw!
If you make deposit to VIP plan tomorrow, you will receive 50% bonus.
If you make deposit in a some days – you will receive only 25% bonus.
If you make deposit $200 and above in any plan, you will receive a bonus 50% from the deposit sum.
For example,if you make deposit $300 – you will get $150 Bonus INSTANTLY to your account balance, available for withdraw.
If you made investment in our partner, using our referral link, you will get 1000% RCB!
http://golden-car.net/?ref=Brilliant
Thank you.”

The site of another program stably paying for over 6 months – GroupUniversal – was offline for over 24 hours yesterday due to technical reasons. For now the site is online and I was promised by the admin that the outstanding pending requests will be paid today. Well, I’ll give him the benefit of the doubt on that because it’s already happened before and he always proved the critics wrong in paying all the time even if GroupUniversal had some delays of over 72 hours (which is the time the cashouts should be processed according to their own rules). Anyway, I still keep GroupUniversal on Paying status on MNO and will update you once I get my pending withdrawals done.

Over the last couple of days I have added two new programs to my monitoring which I’m going to introduce now. The first one is called CazaInvestment. The program launched 12 days ago and accepts AlertPay, LibertyReserve and PerfectMoney (SolidTrustPay is also featured in their design but is not currently accepted). CazaInvestment is running on a dedicated Staminus server with Koddos protection and is running off a popular licensed GoldCoders script. Two absolutely different plans are on offer which I’m going to fully describe in the upcoming review which is going to be published on my blog pretty soon. For now this is just a brief description. The first plan offers 3.2% for 45 calendar days with the principal already included in daily payouts (the minimum to invest in this plan is $10). The second plan is described as paying 6.5% daily for 21 days and in addition it returns principal in the end. So at first glance it might look more profitable, but we should always remember that higher profits in HYIPs usually carry higher risks. In the case of CazaInvestment such risk includes a higher minimum to deposit into the second plan ($50) and the frequency of payouts which is only once per week (despite a very misleading description that they credit them in your account on a daily basis). More on CazaInvestment can be read in the more detailed review of the program next week. So keep an eye on MNO for that soon!

The second program added today is another extreme short-term game called SolarisTrade. Although I like the layout of the program which is quite nice and the 256-bit SSL encryption with a licensed GoldCoders script and the highest level of protection from BlackLotus (PremiumDDoS) I don’t think that SolarisTrade will be sustainable for a long time. So if you decide to invest do it fast while the program is still three days old or simply forget about it. Judge for yourself your chances to make a fast profit from SolarisTrade looking at their plans: 105%-115% after 1 day, 115%-135% after 2 days, 130%-160% after 3 days. So you know that the minimum to invest in each plan is $10 and that “the more you invest the more you get” approach is still playing the essential role here. On a brighter note, all the withdrawals to LibertyReserve and PerfectMoney are supposed to be processed instantly which helps me monitor the performance more efficiently and for the investors it will help get their profits faster as well. More about SolarisTrade will be in my review tomorrow when I’m due to receive my first payment from the 1 day plan. So make sure not to miss it.

For the last two days I was paid by the following programs:
TerraProfits, YesInvestment, YamaFinance, OilStructure, WorldPrivateFunds, UniteTrade, Vodapex, StablEarn, ReProFinance, PawnShopFund, PandaTrade, OnyxInvClub, MutualTreaty, FundsOMatic, InternationalCommerce, Flamanta, FenixTrust, EuroInvestOnline, GloTrade, OptimumPride, EarnPlaza, 144CashAds, RedOrchidInvest, GWDConline, GainBucks, CherryShares, CurioHunters, FutureTrails, FiboTradePro, InnoClub and FxEconomy (the first payment received).

That’s about all for today, guys. Have a nice weekend for now and I hope to see you on my blog again tomorrow!