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

Hello everyone! First of all I just want to say I hope you like the Christmas decorations I decided to hang around the top of my blog and monitor. I hope it adds a little festive spirit to the website. Anyway, almost exactly a month since first being launched, today I have an interview with the admin of ForexReflex, a more mid to long term HYI program that was first reviewed on MNO a couple of days after it opened. His name is Patrick and he’s definitely not short of a few words on both ForexReflex and his own role in organizing it. The program itself offers four investment plans that pay 1.5% for 15 business days, 1.7%-1.9% for 30 business days, 2%-2.4% for 60 business days, or 2.2%-2.8% for 90 business days, all of which hand your principal back when there respective terms expire.

You can see the admin try to explain in in his own words below, however if you like what you see and would like to research ForexReflex a little bit more before joining, then you should start with the review I just mentioned of it that was originally published here.

“1. Hi Patrick, please introduce yourself to the readers here. Tell us about ForexReflex, about the nature of your company and about your personal role in running it.

I’m the CCO of ForexRefleks Ltd, I actively manage our Public Relations and oversee the Customer Service Department. My goal is always providing maximum satisfaction to our new and returning customers. I am one of the people who founded the company, and linked together several of the traders and original investors from my client base at a hedge fund, where I also was formerly the CCO nearly a decade ago.

2. Can you also give us some background information on the program? How long are you running? What are you hoping to achieve with it and are you running it alone or do you have a partner or assistant?

The pilot of the trading script automation system was launched back in 2005, planning of this site started in the beginning of this year, development got pushed into next gear around the beginning of May 2011.. site went public on 11/21.

Employees of ForexRefleks Ltd CEO Mikko Juhani Pelkonen, CCO Patrick Stone, CTO Logan Riley, John York, Zack Walker, Support Team and our traders.

3. So what exactly are you offering investors? Explain your investment plans to us in detail and tell us how profitable are they. What have been the most popular options so far?

Our plans run from the Titanium and Palladium starter plans (Palladium is very popular as it’s a lower cost, “bang-for-the-buck” option) to the Gold and Platinum plans, which require a higher initial investment and longer turn around time. These plans are the most interesting to me; as we run automated trading plans, the amount of complexity built into making and RETAINING profit in the trading scripts is something approximating a work of art. The defensive strategies requiring millisecond reaction timing are really an architecture to appreciate.

4. What payment methods are available? What payment processors are you dealing with and which would be the most popular?

AlertPay, Liberty Reserve and Bank Wire currently, with the possibility of more quite soon (Perfect Money will be added by the end of the week).

5. What kind of advertising strategy are you using to promote ForexReflex? I notice that you don’t issue many updates as compared to most online projects. Don’t you think this has been detrimental to keeping your program in the public eye? Or is it a deliberate plan to stay low-key?

Our advertising strategy is not so aggressive, we put a lot of thought on which advertising partners to choose.

All major updates will be announced on all channels (our forum, our advertisement partners forums and blogs), upcoming campaigns should draw a considerate amount of attention to us – like the previous Christmas campaign – as well as fully compounded investment payouts that are bound to happen in the near future.

We are intent upon expanding in the future, and working more closely with all the investment related publicity outlets in the new year.

6. What are the most efficient ways of getting in contact with you if a member has any questions or problems?

Live chat is the fastest and easiest way to contact us during business hours, however Phone and E-mail support as well as Contact Form and Support Tickets are also monitored constantly during business hours.

Even outside business hours, professional monitoring tools let us know in case of any problems and our reaction time in case of client needs is very swift.

7. To date what have been the most common problems or questions put to you by the members? Is there anything in particular you would like to address here in order for members to avoid having to contact you at all?

Why is my investment pending? That would be the most common question of all and I’d like to explain it one more time here:

All new investments have their status set to pending until our staff manually verifies them using PP payment history – during business hours this is done frequently, about once every 1-2 hours. Your investment will have status “Verified” then. Status will change to “Active” once interest is calculated for the first time next business day morning at 10:00 AM GMT.

8. Can you tell the readers in detail about the security of the ForexReflex website? Who is your hosting provider and how highly would you rate their services? Tell us also about the script and why you chose it.

The more detail we discuss the site’s security in, the more I expose it to vulnerabilities, so briefly:

We have a top-tier dedicated server by Server4Sale. DDos Protection is provided by BlockDOS.

Since there was no pre-existing script on the market that would give us such agility and versatility, we created our own, which took quite a lot of work. Again since we have security concerns, I will not talk much about the technical details.

ForexReflex will push development to keep regularly surprising its clients with interesting new features and add-ons to the site. Our widgets are a one of a kind in the industry, to date.

9. One of the most frequent questions to arise in relation to programs (allegedly) using e-currency deposits to trade ForEx is how can it be possible to receive members’ money, exchange it, withdraw it, trade with it, and then reverse the process to return the profits to members’ accounts in such a short time?

Why anyone would do that, in that order, makes little to no sense. What happens in reality is the miracle of accounting.

We have capitalised a half million pounds of our own to start our online trading projects in separate physical trading accounts which correspond to our four investment plans. So as we trade with our own money initially, we calculate our daily profit per plan, and pay physical profit into our digital currency accounts. It would not make sense to have a lot of in and out of the digital currency systems at 1-4% loss on exchanging each time. We work hard enough to make your money multiply itself, without setting foolish roadblocks that can be defeated with simple accounting.

10. Continuing on the subject of ForEx trading, I see the official exchange rates in the newspapers every day. Nothing ever (or rarely) fluctuates by more than a small fraction of 1%. How can you therefore come up with payments as high as 2.8% every single day and still cover your expenses and turn a profit?

The magic of intraday trading and reaction timing. We have automated scripts (in fact, currently four of them, working on a lightning fifth plan) that track trends and movements in the Forex markets and respond accordingly. We not only move in and out of trades daily with scientific precision, at this point there is a way to numerically quantify the human reactions of other traders to current market conditions. Humans are still the driving force of the market – human rationality and irrationality are quite easy to map, and our reactions to these states of mind are what enable us to make serious profits. With the advent of computerised and automated trading, we have also accounted for everyone else’s automated reactions, and it becomes quite like the film “Inception” with the layer after layer of reaction and how they deep they run, controlling our markets.

11. Can you give us any statistics on ForexReflex as regarding the membership, the deposits, and the rate of growth? Are you satisfied with the progress you have made so far? How would you like to see the program develop in the short term future, over the coming three months?

We have yet to exhaust our initial half million pounds, but we are beginning to run into a few triggers that we feel very positive about. Over the coming three months, we just want to get past the holidays and really start communicating more with the outside world, and doing more publicity related work. We are very happy with the in-flow of investors and critical response so far. But most of all we are grateful to see the public so far have appreciated the amount of work that has gone into making ForexReflex online function smoothly.

12. Expanding on that, do you have any plans to further develop, expand, or otherwise improve ForexReflex in the near future?

Of course! We are working on new widgets currently, and experimenting and tinkering with a 5th plan – trying to make some of these automated systems move FASTER if you can believe it.

13. And finally, is there anything else you would like to say to readers that you feel wasn’t covered in this interview to convince them about the merits of ForexReflex? Was there anything in the MNO review that you would like to comment on? Anything you felt was incorrect, unfair, or that needs to be clarified?

We were very happy to see that they noted our scripts were custom, unique, and self-created. We have taken a lot of time to launch our trading expertise publicly, and we thank our current clients immensely for placing their trust in us. We invite everyone who wishes to invest money and have ForexReflex help it to grow to make us part of your investment portfolio!”

Thanks a lot to Patrick for that and at a time when the HYIP industry is almost a minefield of closures, both premature and intended, best of luck to all the investors who’ve joined this one. For everybody else I hope you found it useful in determining whether or nor ForexReflex would be a suitable addition to your own portfolios or not. So that’s about it for another day, guys. I hope you found the interview interesting and remember that for all the latest news in the industry be sure to tune into MNO again tomorrow. See you all then!