30/07/2011. MirexGroup Review and Daily News from the Industry

Beware! MirexGroup has stopped paying! Do not invest there!

Hi all! I hope you’re all having a good weekend so far. Better than mine anyway where it’s been pouring rain all day long. But I really don’t mind this time as I do have quite a lot of work to catch up on so it gives me an excuse to stay indoors. The first thing I need to cover on today’s update is a long term program called MirexGroup, which is a brand new addition to my monitoring page. Not only that but it’s also got some of the most irregular and offbeat investment plans I’ve seen in the industry for a while, but I guess anything that makes you a bit more noticeable in the crowd can’t be a bad thing. MirexGroup have four investment plans to chose from. One of them is a fairly straight forward industry standard and looks pretty much like something you’d expect to find from any number of long term online HYIPs. The other three are a bit more unique, so I’ll get to them later.

First up though is the one they call The Classic Plan which I guess isn’t a bad word to describe it. It runs for a duration 200 business days, (which is forty weeks or roughly nine months). It will only cost you $10 to join which I can tell you now makes it by far the most appealing option to anyone on a budget. In return for joining MirexGroup offer a daily interest rate paid per business day that will vary according to how much you have invested. The basic minimum of 0.75% will be paid on deposits between the $10 minimum and up to $1,000. That would give you a cumulative total of 150%. Then at the end of the term your principal is returned making that figure your net profit.

So we’ll say for a $100 deposit MirexGroup would pay you back $0.75c per day. That would see you break even after 134 business days, finish the term with payments totaling $150, and then have your initial $100 added to that. Should you wish to make a larger deposit in this plan then the following rates will apply:
0.9% per day on $1,000 to $2,500, 1.1% per day for anything between $2,500 and $10,000, and for anything above $10,000 I suggest you take a look at the MirexGroup members area. Keep in mind however that if the plan’s nine month duration is too long for you and you need to leave, then you can withdraw your principal for a hefty 40% fee. So do try and be absolutely sure that you are spending money you won’t need back in too much of a hurry.

After that the remaining three plans take on a much different slant. To start with we need to return to what it is that MirexGroup claim to be involved with – the trading of oil, gold and platinum. Now whether you believe a word of that or not is another matter entirely, but it is crucial when it comes to the organization of the remaining investment plans. Each of the three individual plans is supposedly based on the trade of one of the aforementioned commodities. Therefore the minimum cost of joining them is going to be based on the price they are trading at on the open market. Don’t worry if you’re confused now, it’ll all make sense by the time I’m finished.

So the next plan is called The Oil Fund. It runs for a term of 180 business days (36 weeks) and makes daily interest payments from Monday to Friday. The minimum cost of joining is what makes this one a bit tricky to explain – because the minimum deposit is whatever the price of one barrel of oil is. At the time of writing the MirexGroup website lists it at $95.70, and typically it seems to hover somewhere around the $100 mark, give or take a couple of bucks.

So rather than talking about investing an exact dollar amount in this plan we’re really talking about buying shares or buying units, the price of which will rise and fall from day to day. The basic rate of interest for a minimal deposit in this plan is 1.1% per day and that applies to the purchase of between one and ten units (or one to ten barrels of oil). On average that’s going to mean a deposit between approximately $100 and approximately $1,000.

The finer points will change form day to day so it’s pointless me even thinking about giving you a dollar example of exactly what you could earn from this one (in any event it would be obsolete by the end of the next business day anyway) but what I can tell you is that you break even after 91 business days, your total profit will be 198% which is in addition to MirexGroup returning your principal, and you may leave the plan on payment of a 35% early withdrawal penalty. Higher rates will be paid out for larger deposits, the main ones of which are as follows:
1.3% per business day for 10 to 50 units (barrels of oil) and 1.5% for 50 to 150 units. For higher rates please see the MirexGroup members area.

A bit off the wall for HYIP standards I think but nothing too difficult to understand either, right? And it’s basically how the remaining two plans work as well, with oil being replaced by gold and platinum respectively. The third plan is called The Gold Fund and the minimum price of joining is based on the cost of buying one ounce of gold. So again we are talking about investing in a number of shares rather than fixed dollar amounts.

For example as of today MirexGroup have the price of one ounce of gold listed as $1631.20 – the minimum deposit required were you to join the program today. No doubt that will have changed by the time a lot of you read this article but you get the idea. The plan runs for 160 business days (32 weeks) and in return for an investment between the price of one and five shares MirexGroup offer a daily payment of 1.3%. that enables you to break even after 77 business days, and finish with a total net profit of 208%. That is again subject to MirexGroup returning your principal as promised. For a larger deposit between the price of 5 and 10 gold ounces the rate goes up to 1.6% per day. For bigger deposits than that check out your members area in the program. Should you wish to withdraw your principal and leave the plan before expiry then MirexGroup will impose a penalty fee of 30%.

The final plan is based on the price of platinum, so obviously comes with the title of The Platinum Fund. It runs for 140 business days and will cost you the price of 5 ounces of platinum on the open market to make the minimum allowed deposit. As of today that’s a hefty $8926.50 and while the price will fluctuate from day to day I doubt it’s ever going to be at a level affordable to most HYIP players. Anyway, for the sake of information the interest rate offered by MirexGroup for the purchase of between five (the minimum) and ten ounces the rate is 1.5% per day. That enables you to break even after 67 business days and finish with a total profit of 210%, again subject to MirexGroup actually returning your principal as promised. You can see the rates applicable to larger deposits in your members area if you’re curious and a penalty fee of 25% will be imposed on anyone wishing to leave the program early.

The whole set-up might remind longer term industry players a bit of e-Gold, once the major force in the e-currency business before the intervention of the US federal authorities (a whole other story and a very colorful one at that!) who kept their reserves linked to gold bullion reserves. That’s pretty much forgotten about now so the processors MirexGroup are currently dealing with include LibertyReserve, PerfectMoney, and OKPay.

AlertPay users may wish to note that while MirexGroup understandably doesn’t take them as a payment processor, OKPay will allow you to fund an account with them via AP which you can then channel into the program. Other options if you prefer to avoid online payment processors completely include bank transfers and Western Union. Minimum deposit for that one is $1,000 by the way, so clearly it’s not for everyone but at least be aware that the service is there if you want it.

A couple of other things you may be interested in include the fact that compounding is allowed (though I’m not a fan of the practice myself). Also there is a sort of calculator that enables you to “guesstimate” your potential earnings but I have to say I think it’s of limited use as it only counts the share prices as they stand at this particular moment. If you were looking to wait another day or two then the figures will be different, and sometimes radically so. That said, payments will need to be requested from within your members area, however once done you should expect them to be made instantly. Just log in and ask for it and you should find the money transferred to your e-currency account within the same minute.

MirexGroup runs off a very unique and customized script, and one I imagine took a lot of work to develop. For example, just look at how the minimum deposits are in tune with the rise and fall of the chosen commodity prices on the open market – no small achievement from their programmer there I’d say. Having said that, it’s still remarkably simple from a user’s point of view and quite easy to navigate your way round the MirexGroup website. The website is also fully SSL encrypted and hosted on a dedicated server by a Canadian firm called iWeb. As far as I know it’s Dragonara who actually provide the anti-DDoS protection however, and I guess you’re all more familiar with that name. Should the need arise for you to contact the MirexGroup support team then you can contact them through a fairly good communications network. To start with there’s the usual online support submission form that you can fill in and send. Or alternatively you can get MirexGroup on the phone. If nobody picks up or you simply don’t feel like paying for an international call at what might be a very unsociable hour in your part of the world then don’t worry. MirexGroup offer a callback service. Just fill in your contact details, include your telephone number, and they will try to contact you at a time that’s suitable. They also have a postal address in Panama. I can’t verify it myself but given that Panama seems to be the universal fulcrum of hosted virtual offices catering to anonymous online HYIPs then I tend to doubt there’s anything other than a hired receptionist with one telephone (if even that) working for ten different companies there.

The MirexGroup website provides extensive information on how the system works and gives you everything you need to know starting with the company’s history right up to their contact details. There’s a serious chance this one could be a massive hit with investors, and even the eternal cynic in me says too much work has gone into the project for it to be a fast scam. Well, maybe I should have said an intentional fast scam, as anything can happen. Though I still think MirexGroup has a very good chance to dominate the long-term industry during the coming months. It just seems to happen with programs like this, but of course you also need to remember to never leave your guard down, keep your investments within a strictly enforced spending limit, and always try to diversify your portfolio in order to hedge y0ur bets against the scams.

DAILY NEWS FROM THE INDUSTRY.

As you know Saturdays are usually a slow day for news as many investors and admins alike take a break for the weekend. There’s still plenty to get through today however, including the ongoing scandal surrounding AlertPay and their attempt to steal their own account holder’s money. As you might be aware from yesterday’s post the admin of EarnGroups Christopher (interviewed here) became the latest victim of this shameless payment system that already stole thousands of dollars from perfectly verified business accounts. Not only that but they’ve suspended their accounts rather than allowing admins to refund their members themselves. Well, we will be probably see within the next couple of weeks what the impact this event was on EarnGroups (reviewed here) which so far keeps paying to everybody. The admin even added SolidTrustPay yesterday in order to replace the out-of-control AP.

Anyway, I received two emails today from EarnGroups members that had their money stolen, not for a change by some crooked admin but by the payment processor. They now demand that I move EarnGroups to Problem status on MNO if the admin fails to refund them to other payment processors. While I can understand these guys frustration and even sympathize with them to some extent I can’t agree with this point of view. Please realize that the money you invested in EarnGroups via AlertPay is now in the hands of AlertPay, and not EarnGroups. AlertPay can do anything they like with it, including refund you or keep it for themselves as the mood takes them.

Of course it would be a reasonable decision to issue refunds to everybody who filed a complaint now but I doubt very much AlertPay is going to do that, otherwise it would not have done everything to prevent the admin of EarnGroups from doing so himself. In my opinion anyone who used AlertPay to play with HYIPs must realize now that by doing so you greatly reduce your chances to be in profit, in exchange for a very slim chance of a chargeback if things go wrong. I don’t know if you think it’s a good business practice but I think it’s awful, and it’s definitely hurting the wider industry. I just hope that AlertPay will realize that they can’t continue such malicious activities anymore, otherwise I think they should leave the HYIP market once and for all.

Please note that one of my pending withdrawals has not been paid by HitNRunMasters for over 40 hours now. Despite of what their website says about the 48 timeframe for processing withdrawal requests I still found it weird and even before window expired I moved the program to Waiting status on MNO. Within the next few hours depending on whether I get paid or not HitNRunMasters will be moved to either Problem or back to Paying status. I really hope that everything is alright with the program but at the moment I would not advise joining. Wait for tomorrow’s update on the status of HitNRunMasters and stay on the safe side!

The admin of JPDaily Rich finished the day with a pretty low result, albeit a profitable one. Investors’ accounts were credited with 0.8% profit for today. In his latest update Rich also reminds us that starting from Monday the withdrawal fee for processing interest payments and returning deposits will be increased (you can request any part of your principal from JPDaily anytime – read more in my detailed review of the program posted here). From the current $0.05 + 3% you will be paid now $0.25 + 3% of the requested amount. Obviously by doing this the admin reduces the amount of smaller withdrawals and at the same time makes investors compound their interest in order to accumulate more profits before requesting a withdrawal. In my opinion it’s quite a reasonable policy from an experienced admin who knows what is best for his program. Here is the latest newsletter from JPDaily:
“Daily Result: +0.80% for JPDaily
Todays result has been announced!
Check your balances and request your withdrawals!
Daily Report: http://jp-daily.com/forum/YaBB.pl?num=1312055430
Investor Balances: http://jp-daily.com/investors.htm
Referral Stats: http://jp-daily.com/referrals.htm
News:
Going around in circles today. Getting absolutely nowhere. I’m calling it quits and try again tomorrow!
And a reminder about withdrawals:
From Monday im going to increase the withdrawal fee from $0.05 +3% per request to $0.25 + 3%. If you don`t like that, cashout everything before Monday!
I`m trying to encourage sensible withdrawal practices. Make a profit and cashout your principal. Then do some semi-compounding thing… Or if you want to skim your profits forever, then do that once or twice a week please; every single day doesn`t serve any practical purpose other than to waste my time.
More tomorrow!
Regards, Rich”.

As you might know from my review of PowerfulStrategy (read it here) the program is running on a unique script which can be customized by the admin any time he likes. Well, this is definitely an advantage for a creative person who is never satisfied with his final result and always on the lookout for new features to improve the script and make it an easier experience for investors. So a new useful feature has been added to PowerfulStrategy recently which you can read in the latest update posted on the program’s website yesterday:
“The next updating of the script! We added page “Add funds” and now you can create a deposit consisting of multiple types of e-currencies. Thanks for staying with us!”
PowerfulStrategy currently holds the #9 spot on MNO after being monitored for 7 full weeks and paying instantly to AlertPay, LibertyReserve and PerfectMoney on the following plans – 1.8% for 10 business days, 2% for 25 business days, 2.3% for 60 business days and 2.8% for 120 business days with principal returned on expiry on each of them.

I noticed today the website of UnitrustDirect was not available for several hours but when I was just about to move them to Waiting status I was able to access it again. There was also an explanation of today’s downtime found there:
“Upstream provider power outage
UnitrustDirect website was inaccessible from some locations on Sat, 30th of July due to the upstream provider power outage. The power outage problem is now fully resolved and UnitrustDirect website is accessible from any location all over the world.”
UnitrustDirect has been monitored on MNO for over two months already and paying instantly to LibertyReserve and PerfectMoney for the deposits starting from $5. The current investment plans include: 102.5% after 5 days, 107.1% after 10 days, 123.8% after 25 days, 194% after 65 days, 403.4% after 125 days. The full review of the program can be found here.

Over the last 24 hours I was paid from the following programs on Paying Status on MNO:
GorgonProjectInvest, EarnGroups, PrimFix, InvestNetGroup, ReProFinance, SilverPinePartners, Opulentia, NeoProgress, FeoCash, HyperCompound, MirexGroup, StableAssets, ViscoCorp, TopsFund, GlobalFxTrades, SeriousInvestors, BaseBucks, PermanentProfit, StockBiz, SecureEarn, LibertyHoard and HotInvesting.

That’s all for tonight, guys. I hope to see you tomorrow when I’ll be looking at a brand-new short term program from which I was successfully paid again today – SecureEarn. Of course the latest news from the industry and some important updates from my monitor will be posted as well. So don’t miss out and see you all tomorrow!