27/09/2012. ForexEarn Review and Daily News from the Industry

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

Hello everyone! We’re nearly at the end of the week already and still no slowdown in the new programs joining the MNO monitoring page. Not a bad thing to have to complain about I guess! As you can see, some have been excellent, some around average, and a few (thankfully not many) were nothing special. But I hope there was at least a couple of programs featured recently that interested you. If not, well there’s more to come over the next few days because I’m not finished just yet. So this evening before I get to all the main events from around the industry in the day’s news section I want to continue with the new additions, this being the turn of one called ForexEarn. I say it’s a new addition, but by no means can it be considered a new program. That would be stretching in in anyone’s definition. In fact ForexEarn have been in operation since March of this year, making them a full six months online at this stage. Why they are only coming to MNO now I really can’t say, but if you are one of those investors who will only join online HYIPs you know you can get in on right from the start, ForexEarn may not be for you. They have also made some sudden and drastic changes to their investment plans recently, going from a sustainable low interest program to one offering rates that might look a bit more tempting but will ultimately prove more, shall we say, ambitious for the admin to pay for as long a time as the old plans. So if you haven’t heard of ForexEarn before today then do keep those two points firmly in mind before deciding what to do with your money.

So the current plans available in ForexEarn start from a $10 minimum deposit. There’s four of them in total though only the first one will be of much interest to most investors, it being the only really affordable option. This runs for 20 business days (four weeks) making daily interest payments from Monday to Friday at a rate of 6.25%. ForexEarn are counting your initial principal as part of these payments so you won’t be getting that back separately. That means by the end of the term your payments will have accumulated to 125%, or your own money back plus 25% profit. The maximum deposit for this plan is $2,000.

After that things start getting a bit serious with Plan #2 calling for a minimum deposit of $2,001. It to runs for 20 business days, making interest payments from Monday to Friday at a rate of 6.5% per day. ForexEarn will not be returning your principal at the end of the term, so your final return of 130% is your own money plus 30% profit on top. The maximum deposit here is $8,000.

The last two plans I’ll just include for informational purposes, as I don’t envision many takers due to the prohibitive cost. Though if you’re someone who can drop the $8,001 minimum required to join ForexEarn‘s third plan into an online HYIP without a second thought then you have my heartfelt congratulations! The plan runs for the same 20 business day term, paying 7% interest every day from Monday to Friday along the way. Your principal will not be returned so the final return of 140% includes your own investment plus 40% profit. Maximum spend is $20,000.

And finally for anyone prepared to gamble anything bigger than that up to a value of $200,000 ForexEarn‘s rate of interest is 8% per day for a duration of 20 business days. The final return (were anyone to actually join it that is) should add up to 160%, principal included.

A couple of other points you might like to know about ForexEarn‘s investment plans include the option of compounding. Regular readers will know I’m against the practice myself, but it’s totally up to the individual. I’m not your accountant after all, lol! So if you want to use it then compounding is allowed by ForexEarn, but it’s only allowed in the final three plans. They won’t allow it in the first plan which most of you will be going for, if you were joining ForexEarn at all that is, so it’s not really an option. Apart from that you’ll need to know about the payment options, and sorry but I can’t help but feel suspicious about this. The thing is apart from the usual LibertyReserve and Perfect money which every online HYIP is using, ForexEarn are also taking SolidTrustPay. Nothing unusual about that you might think, indeed STP have only been added recently since the program was completely overhauled. However I’m a bit concerned to see that deposits to STP are only being added by the admin manually. In other words you have to pay him first directly into his personal account, then mail him to tell him about it, before he that manually adds your STP money to your ForexEarn account. If everything here is legitimate and above board (insofar as that’s possible for any online HYIP) then I can see absolutely no good reason whatsoever for this being the case. Every single other program listed on my monitor using STP can manage to set this up automatically and instantly, but for some reason ForexEarn aren’t allowing this. And it’s just for STP, not LR and PM which does nothing to calm my suspicious nature. Anyway, maybe the admin will have a sound explanation for it, but if he does I would hope he decides to share it with the rest of us. Meanwhile payouts are made to members manually. You will need to log-in to your ForexEarn members area and make the request beforehand, and once done you should have the money according to their own terms and conditions within 24 hours.

The design and security isn’t all that bad. It’s pretty good actually, and at least up to the minimum standard you should expect. Hosting is on a dedicated server with support and protection by BlackLotus, and the ForexEarn website is SSL encrypted by Comodo. It runs off a script under license from ProBiz. If you have any further questions or comments about this, any other aspects of the program, or any account related issues then you can contact the ForexEarn admin by filling in the online ticketing form and submitting it via the contacts page. Also listed is a telephone number and a postal address in the UK, though I know these things generally tend to be virtual serviced offices and you are unlikely to find anyone connected with the program on the premises were you to call.

Regarding the business side of things, I think you can hazard a reasonable guess from the name of the program what they claim to be up to, ie ForEx trading. They also say they are a registered company in the UK, something that’s almost alarmingly easy, cheap, and anonymous to do over the net. Now, the UK is a country where I’ve been happy to live on an occasional basis on and off over the last number of years and therefore I think I know a thing or two about how things work there. So when I read the ForexEarn homepage describe the UK as (and I quote) “a reputable tax haven”, guys, I nearly fell out of my chair choking on the laughter! And I think UK based readers will probably back me up on this, because it simply ain’t true. After wiping a tear away from my eye and catching my breath I decided that was enough to make me skeptical about the rest of the texts, and sure enough it’s a straight copy/paste from another HYIP that closed some years ago. I doubt the admin is aware of that, but it is. So like I always remind you when finishing these reviews you do have to be realistic in what you think you can achieve in this business, and spend according to your means not your ambitions. Stay within a sensible limit as it’s all basically a form of gambling when all’s said and done, and if joining ForexEarn then remember to keep them as part of a wider more diverse portfolio.

DAILY NEWS FROM THE INDUSTRY

FINVANCE – PROBLEMS WITH WITHDRAWALS TO EGOPAY

The admin of Finvance Mark (interviewed here) reported tonight about some issues detected in the API system for EgoPay. Members shouldn’t be too worried though as the payouts to other payment processors, including LibertyReserve, PerfectMoney and SolidTrustPay are not affected and they are still processed within the promised 24-hour timeframe. For its 73 days online Finvance has firmly established itself as one of the most reputable programs in the HYIP market having reached the second position on MNO’s Premium list while offering only one investment plan paying 8% for the duration of 20 business days for any deposit starting from $20. Mark has already contacted the administration of EgoPay but as it’s outside of (their) business hours now I believe it should be fully resolved by tomorrow. Kudos to Mark for updating the members and let’s hope for a speedy solution. Here’s the latest update from Finvance (reviewed here):

“EgoPay Withdrawals
We are currently encountering an issue with the EgoPay API (Payment System). We have contacted our EgoPay representative and waiting for a response from them. The issue may resolve itself as it has before, so we continue to test it every so often. Thank you for your patience! Liberty Reserve, PerfectMoney, and SolidTrustPay are unaffected.
Finvance.”

And just as I was about to publish, a second update from Mark came through offering an ideal short term solution to the problem – a free of charge exchange from STP (which wasn’t actually affected) or EgoPay to LibertyReserve. I’m guessing the idea of including STP in this offer is probably to just speed the entire withdrawals process as a whole along and free up the Finvance team to deal with more pressing issues like that caused by EgoPay. So anyway, if you’d like to take them up on this 0% commission offer then cancel any existing pending payment, use the internal exchanger, and re-submit your request to LibertyReserve. Full instructions, though there’s really not much to it, are included in the later update from Finvance below:

“Even STP / EgoPay to LR Exchange
We are offering a temporary exchange to our depositors from STP and EgoPay to LR.
As of today, EgoPay API has been giving our team issues, and has slowed down withdrawals. To help quicken the process and to lessen the burden we are going to be offering free exchanges from SolidTrustPay and EgoPay to Liberty Reserve. All you need to do is cancel any pending STP or EgoPay withdrawal. Once you have done that, please visit this link:
https://finvance.com/ex.php
You will be able to convert your STP and EgoPay account balance into LR.
Another newsletter will be sent out when this offer expires. Participation in this offer will reduce waiting time for withdrawals.
Thank You, Finvance.”

SKYCROWN – MNO REVIEW ANNOUNCED

Today the admin of SkyCrown Nick mentioned the recently published review on MNO and sent the link to his members. I appreciate what Nick said about my review in a private conversation and am happy to report that the interview with him is going to be published on MNO in a couple of weeks. Later in the year Nick is planning to introduce some new features like currency exchange and direct Bank wire deposits and withdrawals, so it will be interesting to find out about the future plans he has for SkyCrown then. For now the program accepts all the popular payment options including PerfectMoney, EgoPay, PexPay, SolidTrustPay and indirectly LibertyReserve too. The investment plans are also reasonable and paying 3%-3.5% for the duration 50 business days with no principal back on expiry. More information about SkyCrown can always be read in my detailed review posted here. Here is the latest newsletter for your attention:

“Money News Online Review Added
Dear Members,
The renowned Money News Online investment blog and monitor has published an extensive review of our company.
We would like to publicly thank Paul, the MNO administrator for the interest.
The review can be found on today’s MNO blog entry here:
http://money-news-online.com/blog/2012/09/26/26092012-skycrown-review-and-daily-news-from-the-industry/
Warm Regards,
SkyCrown Capital Management”.

SINGLESTEPINVESTMENT – UPGRADED TO PREMIUM AND ENABLED ECURRENCY EXCHANGES

SingleStepInvestment upgraded its listing on MNO to Premium today and secured its place among the top 15 programs on MNO after returning the first principal back on expiry. Please note that for some reason it actually takes longer to get credited your 110% after 1 day interest, as the clock on the website stretches from day to day for some reason. I was unpleasantly surprised last night when my account in SingleStepInvestment was not updated with the required interest even after 30 hours. After I took this matter up with the admin he could only say that the time runs daily from 00:00 hours and depending on the time of investment it can take up to 36 hours to update your balance. So please take this into consideration when making your investment into any of the plans offered by SingleStepInvestment – 25% for 7 days, 110% after 1 day, 160% after 5 days, 230% after 10 days, 300% after 15 days, 520% after 30 days. I hope to review the program over the weekend, so stay tuned for that.

By the way, as SingleStepInvestment accepts EgoPay, PerfectMoney and LibertyReserve the perfect tool that was missing till recently was e-currency exchange inside of your account. Now it’s enabled and you can make an exchange before requesting a payout which by the way are promised to be done within 24 hours. Here’s the latest news from SingleStepInvestment describing this new feature:

“Exchange E-Currency
Dear Member,
Many members requested to add the funds exchange facility. We have added the Exchange service now, members can instantly exchange their funds from member’s area by clicking on “Exchange” button.
Thank you,
SingleStepInvestment Ltd.
The path to dreams begins with a Single Step!”

BENSONUNION – COMPOUNDING ISSUE FIXED AND SPANISH CALLBACK SERVICE ADDED

BensonUnion (reviewed here) remains one of the undoubted leaders among longer term programs and recently successfully returned the principals to the first investors on expiry of their only investment plan – 1.2%-2.45% for 170 business days. This obviously caused some animosity from the less successful programs who targeted BensonUnion recently with a series of powerful attacks which even BlockDos struggled to mitigate thus forcing them offline for several hours. Anyway, it looks like at the moment BensonUnion has fully recovered and the admin even posted something about fixing the issue with compound interest which was a direct consequence of the recent DDoS attacks. As I’m not a fan of compounding and never do it myself I wasn’t aware of any problems there myself. As far as I know the payouts to other payment processors currently accepted by BensonUnion are not affected by these attacks either and are still processed instantly. That concerns payouts to PerfectMoney, EgoPay, PexPay and BitCoin which are also accepted along with LR. Here’s the newsletter which was issued today and mentioned the attacks, issues with profit posting on compounded deposits and the upcoming addition on another payment processor next week:

“BensonUnion official newsletter
Dear BensonUnion investor! As you could see, our website was under massive and powerful DDOS attack initiated by our competitors so it was unavailable few hours a day till yesterday afternoon. At the moment we can surely say that the attack is mitigated by our custom DDOS protection provided by BlockDos.net provider. The attack caused an issue with profit posting system that is responsible for profit posting to compounded deposits so we needed some time to find the issue and fix it. This experience confirms that BensonUnion is strong, sustainable and unbeatable industry leader. We sincerely appreciate our investors for patience and trust so we do our best to keep everyone satisfied. We apologize for inconvenience so BensonUnion executives decided to offer +1% to referral commission till the end of this week. Please note that we are preparing more payment options that will be integrated next week. Stay tuned!”

That’s not all from BensonUnion for today. I got another newsletter from the admin Ragnar (interviewed here) announcing the addition of Spanish language support that offers a callback service if you need any support with understanding how BensonUnion works or have account issues to discuss. Spanish is not the only language available for the callback service, as English, German, Dutch and Polish are there too, and I believe that BensonUnion is possibly the only program that offers such an extensive multilingual support. In order to take advantage of this, please click on the Callback link on top of the site and choose from the list of languages you would like to talk over the phone, pick your subject, enter your name and assign your preferred time to take the call. That is it! Enjoy your new callback service from BensonUnion, now also in Spanish:

“BensonUnion official newsletter
Dear investors! We are happy to announce that we have added one more language to callback service. Since today you can request a callback in Spanish language (Español). Just submit the form and we will call you back on one of 5 languages. We will keep hiring more callback operators because this function is becoming very popular these days. Stay tuned!”

PIPSFUND – ONE MONTH ONLINE

Despite the cheerful tone from the admin of PipsFund commemorating the program’s first month online as a hugely successful one I believe it’s been vastly exaggerated. I simply don’t see that many members joining. The program offers 2% for 120 calendar days plan with principal return on expiry via four payment processors – LibertyReserve, PerfectMoney, SolidTrustPay and EgoPay. The claims about translating the website into five languages is no more than self backslapping as it’s only a Google translator tool which I also have on MNO, takes about a minute to install, and is free of charge. It shouldn’t be compared with other programs that unlike PipsFund offer a professionally made translations of their websites.

Not everything is bad though as some new features will definitely make PipsFund more convenient to the current investors and definitely bring it to a new level. Any serious improvements are important and it looks like the admin of PipsFund realizes this perfectly well. New features available for PipsFund‘s investors now include a new support ticketing system which should make your experience smoother in case you encounter some issues in your account, the launch of the representatives program which is intended to help bring the program to an international audience and cater to local market and communities, uploading their certificate of incorporation, promotional splash page and some other minor adjustments. The full review of PipsFund can be found here, and the full update is included for you below:

“One month anniversary
Dear investors,
It is with a lot of joy that PipsFund has now been online for one month and we have to say we are off to a great start. Our growth curve is pointing straight up with over 2,500 registered members, about 1,800 active investments that, together, put up over $60,000 in total deposits during our first month of activity.
Based on the geographic location of our investors, we are slowly introducing new languages to our site. As of now, you can read all our pages in English, Russian, French, Spanish or German. We believe providing this type of service brings us closer to you, our customers, and we know we have a lot of work to do if we want to get closer to all of you but we are sure this is a good start for our strategy.
We have also installed a new support ticket system that will allow us to give you a better treatment whenever you need us. This system is called osTicket and instead of treating all tickets at the same place, they are directly assigned to one of our agents who will be able to solve your problem immediately and personally follow-up your requests. This system makes sure all our agents have the exact same work load and allows you to keep track of message as you receive a ticket ID right after submitting it.
As we said in our previous newsletter, over 70% of our members are directly referred by someone and to make this rate even better, PipsFund is launching its representatives system. A representative is someone responsible for taking care of people with little to none experience in the online investments industry and personally guide them in the entire process. This position requires patience, discipline and good people skills so, if you feel you can provide a good service of this type, please contact us at representatives@pipsfund.com to let us know why you would like to become a representative and what are your ideas for promoting our program. The compensation for being a part of our team is a 10% commission on your first level referrals, paid at the last day of every month. Monitors cannot apply as a representative, all other investors are more than welcome to apply but keep in mind that we have a limit of 100 representatives for now and we will try to have people from as many countries as possible in our team and, together, build a multi cultural welcoming environment for new investors.
Some of you have requested proof of our offline activity before the launch of our online version so we uploaded our certificate of incorporation. You can see it in our Frequently Asked Questions page.
Our marketing department has also just released a new splash page (http://www.pipsfund.com/splash) to help you promoting our program; this page contains all the basic information about our program and its goal is to show people what PipsFund has to offer so they can go to our page for more information.
You might have noticed that we slightly changed our members’ area to give you a better understanding of how our compounding and withdrawing system works since we’ve been receiving many questions about it. If you still have questions after reading it, don’t hesitate to contact our support team and, as usual, we will be ready to answer you!
As you know, by the end of our second month online, we will already have some members in profit and we couldn’t be more excited about it, we can’t wait to see with our own eyes the changes we are making to our investors lives. Of course dealing with investors and bringing them profits is not something unusual for our team but, bringing it to hundreds of people from all over the world at once is a very encouraging journey and knowing that, in a few months, PipsFund will be responsible for changing the financial situation of thousands of people, including our own, encourages us like nothing else does.
Making decisions can be hard, especially when they involve your own future but, knowing that there is someone out there counting on you should give you excitement and make you commit to your choices. This is why we believe PipsFund is such a perfect connection: you are counting on us to change your financial reality and we need you to give us a positive growth perspective and will to keep working hard. We strongly believe that this mutual agreement is what will take PipsFund to the top of this industry and put us in a leading position in a matter of months.
As we always say, the greatest adventure is what lies ahead of you and we couldn’t be more excited about being on board of this adventure with you.
We wish you all a great week,
PipsFund Administrator”.

INTRODUCTION OF CEMOBILITY

CEmobility is another program recently added to MNO’s Premium list. I was approached by the admin today who launched his program only yesterday but already had some issues with attacks on the server due to which there were errors in my account that delayed the listing. Now it looks like everything is back to normal and CEmobility is paying again. It’s funny but the first payment I have received is not from the investment plan, but rather from some kind of contest where three random winners will be chosen and credited with $20 withdrawable balance in their account simply as a reward for their deposit or referring others. Honestly, it’s kind of an interesting addition and I didn’t expect it, especially considering that seemingly CEmobility is running off a very traditional licensed script from GoldCoders. The admin is apparently not able to speak English properly, so I had enormous difficulties understanding his emails or the contest rules. I will try to introduce CEmobility now as I understand it, so please excuse me if I miss something. Here is the email I received today about the prize draw as I could understand it:

“You are the winner of lots of CEmobility!!!
We drew lots just before. Congratulation to winners.
Following is the list of those lucky people:
1. moneynews
2. markus314
3. goldpoll
Please leave a message on our FaceBook, and share the happiness to all friends.”

CEmobility offers two investment plans paying 6%-8% for 25 business days and 3% for 70 days. Since the second plan doesn’t actually specify if the interest is credited on business or calendar days I assume it would be calendar days. I still believe the first plan is much better, as you will be in profit much faster, but it’s entirely up to you where you put your hard-earned money. The minimum to invest in CEmobility starts from $20 and the original principal is apparently not returned on expiry on either plan. All the popular e-currencies are accepted including EgoPay, SolidTrustPay, LibertyReserve and PerfectMoney. You have to request the money from your account with CEmobility to get paid manually within 24 hours maximum which for some odd reason the minimum withdrawal stated as high as $10, so it makes no sense to me to invest small amounts in the program at all. The website looks kinda unfinished and raw and apparently there are still some issues with crediting the deposits to members accounts as specified in the news section which is extremely muddled and hard to understand (I believe the admin should do something better than just use a Google auto-translator tool):

“Accepting our sincere apologizing please
We are sorry for that the tittle of the first letter is we are sorry, incredibly.
Certain investors indeed deposit but the active Deposit shows zero.
This is a very serious problem!!The proceeding smoothly had been expected after inspecting strictly. But the problem occurs now. We have nothing to argue, and it is our false totally.
Within 14 hours , we try our best to solve the problem, and then it is overcame now. We are sorry to spend your time so much. But we regard that keeping the proceeding smoothly ,and that right of investors, as the most important thing, rather than apoigazing.
Now , please to do the following steps:
1. Log in our website http://cemobility.com/
2. Check the correctess of deposit and plan, contact us if any problems existing
3. Forgive us for the sake of our sincerely apology please”.

Anyway, at this moment it looks like maybe not a bad decision to postpone investments in CEmobility due to ongoing issues and downtime. By the way, the site is only hosted on a shared server by CloudFlare although is properly SSL secured. I’m not that it will be enough for the proper and uninterrupted functioning of the website, but I hope that the admin will be able to fix everything before the full review is published next week.

GET PAID REPORT FOR 27/09/2012

Here is the list of the programs from my monitor that paid me for the last 24 hours:
From MNO Sticky list: TheMoneyGalaxy, IntraFunds.
From MNO Premium list: NewGNi, Finvance, RightFive, ProfitableSunrise, EurexTrade,  TheBig5, FelminaAlliance, PlexCapital, Bull&BearCapital, BensonUnion, PipsFund, AtlanticVision, RoyalUnion, DiamondAsset, SkyCrown, JustTripler, ROInvest, ProsperaNova, ForexEarn, SingleStepInvestment, OdoFx, BinarySuccess, CEmobility (the first payments received).
From MNO Standard list: UFOWin, Alconoil, BGTGroups, Hero10 (the first payment received).
From MNO Basic list: StallionGold.

That’s it for today, guys. Join me again tomorrow for the review of JustTripler and the usual daily news and updates from the HYIP industry. See you all then!