BEWARE! THIS SITE HAS STOPPED PAYING! PLEASE DON’T INVEST!

Hi guys! Today I’m looking at a reasonably promising site called ExcellentProfit. I say promising but in reality I would wait and give them an adequate chance to prove themselves over the coming months before getting excited about it. But having said that I’ve been a member for a week now and so far so good. I hope they can continue in the same way they started. But it is a long term program so it’s early days yet.

There are two plans available from ExcellentProfit, both of which offer a low rate of interest and payments made either daily or weekly. In the first plan you can earn 1.5% interest on your investment per day. The plan runs for 60 business days (that’s 84 calender days) which means you will not break even or see a profit until after expiry. Your principal will be returned and your accrued profits over the previous 60 days should add up to 90%. So for example an investment of $100 will get you a daily payment of $1.50 for 60 days, which totals at $90 before your original $100 gets returned.

The second plan, with the weekly payments, also returns your principal on expiry but also doesn’t allow you to break even or earn a profit until after expiry. It works like this: an investment here will get you a weekly payment of 8% interest on your principal. The duration of the plan is 12 weeks meaning your final profit should be 96%. So for example a $100 spend in this one will get you a weekly interest repayment of $8, adding up to a total of $96 by the time it expires and then returning your principal. In comparison to the previous offer, it means you need to forgo your daily payments in favor of weekly ones to earn an extra six bucks. Is it worth it? Your choice.

The plans are quite achievable and will come close to doubling your money but still risky in the sense that you don’t profit until expiry. The other important thing for you to know is the choice of payment processor. It’s a bit limited at the moment to say the least with just PerfectMoney and LibertyReserve being accepted and no indication that this is likely to change anytime soon. Nothing wrong with either of those companies mind you. They certainly have their uses and their advantages but I think in this case we can just take it as standard fare for an average HYIP game. Room for improvement of course (there always is), but not bad either as your standard HYIP goes. There is a brief mention in the FAQ section about adding more processors if after investigation they are deemed “suitable for our business”. If that is the case then I suggest it should really have been researched a bit better before the program was launched.

ExcellentProfit fares a little better on the security side of things. It’s on a dedicated server as you should expect as a minimum standard these days anyway, and hosted by the ever reliable DdoSWiz. Not a bad way to start and certainly not hindered by the addition of a fully licensed version of the script from MonetarySoft. They’re the latest company to start making a name for themselves in the online investment arena. If I can just distract you from the subject of ExcellentProfit for a moment, you can read an interview with the developer of MonetarySoft here. The customer support option comes via the usual online e-mail ticketing system. The design itself is easy on the eye with navigation being easy enough. I would have one criticism of the text though, with a lot of it being worded very clumsily. For example in their FAQ page where one point is raised under the question “is your company legal?” One would expect this to be followed by a simple yes or no answer but instead we get something vaguely suggesting the employees ExcellentProfit are all working towards generating revenue for the program. Nice to hear but hardly the answer to the question now is it? An otherwise nice design is let down slightly but usually they get their point across.

Overall its an interesting project and one I’ll keep a close watch on. The potential is definitely there but it’s not quite as professional as it might first appear to the untrained eye. Their claims of the business they are running to consist of ForEx trading, real estate, and sports betting simply gave me a headache! What ever do you call a company that covers all those areas at the same time? ExellentProfit I suppose! Those claims are to be taken lightly of course, they are made for the benefit of the casual surfer who finds the site by accident or else for newbies here. Most readers here will I think know better. Nevertheless ExcellentProfit is a long way short of being the worst site I have ever seen. It’s not bad at all but will need to do a lot more to prove themselves before I’d agree with their self awarded moniker of “excellent”.

Other news for today.

Let’s start with the bad news first. It’s pretty obvious to me that MajorBarter has finally bit the dust. All the payments have now stopped and it seems the long 7-month history of on-time payouts is now at an end. As you might remember I warned you that it could happen after I received the first supposedly phishing emails from the program (I’m sure they used such emails themselves to get as much money as possible before pulling the plug). Anyway, MajorBarter was a very successful program and lasted for over 7 months which was quite good for the program which received a mixed review from Money-News-Online for stealing the texts and even the name Deborah A. Parker from another website. Anyway, this is probably the good-bye message left on MajorBarter website to get even more money from unsuspecting investors and newbies (I hope you will be wise enough not to get into it):
“Dear Members! For too much investment and higher volume of withdraw requests, all payments will be process after 48 hours any more. Please don’t make ticket for this issue!”

There is bit of an awkward situation surrounding one of the most popular programs (SilverLodge) right now. As you know from the previous updates yesterday the program had to go private and close for new sign-ups. Well, the admin of SilverLodge fulfilled what he promised to do and the program really closed for new members. Unfortunately, the withdrawals were also closed for two weeks (more on that later). In my opinion, such abrupt changes in payout schedules can only indicate cashflow problems in any program. Although, the vast majority of members were being paid on time a few experienced issues with pending payouts, pending to LibertyReserve for more than a week. As a rule, they had hundreds in pendings and were paid even for smaller amounts. Honestly speaking, one of the admins of SilverLodge Dominique replied to my concerns last night and promised to make alternative arrangements to pay all the pendings to STP and AP accounts instead. So I decided to move SilverLodge back to Paying status on my monitoring page but please be aware that it’s not recommended to deposit now until the next payouts resume in two weeks time.

Now let’s try to analyze the most recent lengthy update published on SilverLodge site. I will be giving you my comments after each paragraph.
“Dear Members, This email is a must read, to know the modifications SilverLodge will do for this day on!
We announced many times to go private, and we will do this step now indefinitely, there will be no change on this issue, and I want you to understand and need you to agree the modifications we will do!”
Yes, I totally agree with this point. There are way too many times when SilverLodge announced they were going private and every time this change was reversed for one reason or another. But what is the real reason to go private in the first place? I have no idea. I still treat SilverLodge as a ponzi which will be severely affected by the lack of new funds caused by this decision to go private. Anyway, more will be clear for me once I investigate the addresses in London of a few programs including SilverLodge to find out if these offices are for real or they are just for misleading the investors. Stay tuned for that as it will surely be an interesting read! Moving on to the next part.

“######Blogs/Forum/Promotion########
From this day on we will not need or allow any promotion to join or advertise SilverLodge, this club is private and should be handled and respected that way, everyone who has a referral link anyway on any website, please remove it, if we capture our link somewhere your account will be suspended! If you do have a friend who want to join with at least $1000 please send us an email with your friends contact details, including his email address and your memberID.
We do not allow any new members to join or get referred into the system, with referral links or direct sign-ups we also not allow to post payments on any forum, even you get paid fast, be happy, keep it for you! If you want to write and share within the community write into Plaxo where we are a closed community and only members are connected to each other. This make the community more safe and the investments more secured.”
This is the weirdest thing I have ever seen in my life. If they hope that the members will just stop discussing their program on public forums and blogs and share with their payments (and non-payments) and thoughts they simply have no idea what the Internet is. The Internet was made to be a free source of information, yes, but also for the freedom to discuss that information and express your thoughts on it. The prohibiting of posting payment notifications in forum threads looks at least a bit strange. And I’m wondering what is the point of removing the referral links if they are private anyway. Anyway, in compliance with this new policy I have removed all the ref links but I’m going to stop discussing their program on my blog. Why should I? I’m a regular member there like the rest of you, and will speak my mind about any program where I invest.

“######Investors################
You all will earn as before and you do not have to worry for getting deleted (as long you invested with us). All non investors will get deleted.”
This is what I heard a thousand of times as well. All inactive members will be deleted but for some reason I have many free members in my downline. So this pressure should not be taken seriously especially considering that all the payouts have been postponed. I repeat that I take it as a huge warning sign.

“######Emails###########
From this day on we will do emails as quick as we can, usually within 24-48 hours, expect weekends, to make sure we have actual time to invest your money, we got so many emails, what people can just find out by reading the site, that the business is suffering about, so only for emails related to your account, problems or questions you can’t find on our site, we will responds from now on. Emails what get send more than once will be deleted as well, we have no time for same emails over and over again, because there was no responds within minutes, we actually try to make you money, and 24 hours was a good responding time so far.”
Well, I suppose this is the right turn of events but in my opinion all the questions should be answered especially those serious ones considering their legal status and issues with MasterCards that have still not been resolved. And from that point of view not answering such emails simply because they have no time to make money cannot be justified.

“######Payments#########
As some people already realized we was having loading problems with PerfectMoney, as you see sometime it’s not in our hands, this is why we go from now a way what makes payments smooth, fair, and quick!
You continuously see earnings daily, weekly, monthly (depending on your investment), but payments will be done in Bank Wires or your favorite ecurrency (therefore you all will get a form to fill within the next 7 days) this is all online, no signature or anything needed, its just a update of your account, you can get your earnings via bank wire or choose 2 favorite ecurrencies and get paid to one of this 2 currencies or if you allow us to send you an Bank Wire directly to your Bank.
Payments will be done always on the 15th and the 1th of a Month, the withdrawal link, will be always online 3 days before the dates.”
Finally, onto the most important thing that concern the vast majority of investors. If you have your doubts (like me) regarding this sudden change in the payout schedule I urge you to hold off on depositing in SilverLodge until at least the next payouts on expiry are processed. If this program is not a ponzi it will not affect it at all. At the same time, if SilverLodge is really a ponzi this decision of delaying the payouts can be understood as a smart move to save and extend its life because obviously within the next couple of weeks many already existing members will make new deposits into the program which will satisfy the demand for the ever growing withdrawal requests. PerfectMoney issues are obviously still present but it doesn’t explain why some members have pendings to LibertyReserve as well. Anyway, I hope that this change will have a positive impact on the program but having been introduced so abruptly it can scare off many investors from depositing more. So the stick has two ends as they say, and we will wait and see what happens next.

Finally, the last vital question from the update:
“######Why?###########
Why so many modifications? Well we pay like a clock, but LibertyReserve is having again problems, or we see PerfectMoney problems with there bank, what make it hard for us to invest this money, we work as hard as we can and I am sure you all agree better safe than sorry and this way we can invest safer and better.”
Have you understood the answer to this question? Me neither. But I’m sure the more experienced investors will agree with me on the major points I’m trying to make here.

Let’s get to other programs. AsianInvestGroup (reviewed here) published another weekly statement and we can see that their weekly rates are nearly at the same level they were the week before. AsianInvestGroup is a stable performer on my list for over three months already and hopefully with such good trading results it will last for many more months to come:
“Our rates for current week are the following:
Optimized Portfolio – 8.8% weekly (-0.1)
Aggressive Portfolio – 10.9% weekly (+0.2)
Optimized Portfolio Premium (for investments of $1000 and above) – 11.8% weekly
Aggressive Portfolio Premium (for investments of $1000 and above) – 13.9% weekly“.

GlobalTraderGroup (reviewed here) also published a statement on their website but this income statement was bi-weekly. To the admin’s credit he at least made an effort and explained where the money came from with some figures provided (though it can’t be verifiable of course):
“Dear Member, Thank you for choosing GlobalTraderGroup as your online investments manager. It is the great honor for us that you have chosen us as your online investment partner.
GlobalTraderGroup is designed to provide easy, hands-off investment management. You can also visit your online account and view reports on your investments in real time.
RESULTS: Period: 01 jun to 12 jun – Year: 2009 – Date: 15 jun, 2009
*The values below are for the results of days of negotiations.
Plan – Estimated Income – Income achieved – Income – Margin
Pearl 22.80% 20.03% 19.80% +0.23%
Plan – Estimated Income – Income achieved – Income – Margin
Platinum 36.75% 33.99% 33.75% +0.24%
Plan – Estimated Income – Income achieved – Income – Margin
Silver 15.10% 13.12% 12.10% +1.10%
Plan – Estimated Income – Income achieved – Income – Margin
Gold 17.30% 16.54% 14.30% +2.24%
Plan – Estimated Income – Income achieved – Income – Margin
Diamond 21.50% 17.85% 16.50% +1.35%
Plan – Estimated Income – Income achieved – Income – Margin
Beta 21.00% 19.57% 18.00% +1.57%
Plan – Estimated Income – Income achieved – Income – Margin
Alpha 25.00% 22.47% 22.00% +0.47%
The results reported here do not alter the interest of investors. This is just for your knowledge. In case of loss in any trade, use our reserve fund to cover.”

And I would also to give you an update on the STP account of XagaEnterprise (reviewed here). It seems SolidTrustPay suspended it and will be returning the money deposited to their original owners. The reasons for that are perfectly explained in the newsletter from the admin of XagaEnterprise Kevin (interviewed here). Since all the payments are done in time I think the investors should support the program as the entire STP issue was obviously completely out of the admin’s hands (I remind you that XagaEnterprise site pays 1.1% forever):
“I, Kevin, admin of XagaEnterprise, apologize to all STP account holders. I was not able to reach to any solution with the STP problem. If you remember STP had frozen my account last week under the belief that Xaga was a casino related site. I tried to tell them that we don’t really have and casino investment and only deal with comps. Here is their reply :
“Hello Kevin, I’m sorry, but I have reviewed the website and the account with the owner of STP and we have decided not to support your business as a merchant. We have concerns with your business model and procedures so you may removes STP as a payment processor for your business. Your account with us is going to be suspended and all payments paid in through STP will be refunded.
Kind regards, SolidTrustPay Investigations Dept.”
When I read this email, I was so mad. How come they allow other programs that manage investors’s money through forex and unquestioned method but suspended my account?
I know you all (STP account holders) will be very disappointed but there’s nothing I can do.
STP according to their email has claimed that it will refund all the money. If you don’t receive your money, please contact STP or you can contact me too. I will help you.
I can promise all STP account holders that you will receive your money back. You will get your prinicple back and the payment done till now will the profits you will have earned, which is a bonus from us to you for all your trust with us.
STP has frozen my $1500 balance. If STP doesn’t keep their promise to refund all your money, please don’t worry. I will pay you from my own pocket. Please remember that XE has reserve fund which is about 400,000. So, don’t you all
worry.
All accounts with STP investment will be edited to 0. But your account shall remain active. I will only delete your balance.
XagaEnterprise will still run. If you still trust on us, you can re-spend with LR / PM / SP. Thank You.”

As you might remember LibertyReserve site experienced some serious problems on Sunday which prevented many programs from paying the investors on that day. Fortunately, on Monday the LibertyReserve site was back on track and all the programs paid me the pendings. So today and yesterday I was paid from the following programs: EarnerSurfer, NovalexFinance, VentureFundsGroup, ForexExperts, NorthBizz, XagaEnterprise, NanoMoneyCorp, GeniusFunds, GoldNuggetInvest, ExcellentProfit, Verifield, Ivy-Castle, Merchandies, SilverLodge, YesICanSurf, TheDollarDiggers, InvestmentForge, ElegantMoney, OrybFunds, SteadyGrowthInvest, EnscoOffshore, AsianInvestGroup, PanaMoney, SigmaTral, CorpusTrust, Treckswana, CoolReturn, GlobalTraderGroup and InvestiMates. See you tomorrow, guys, when the interview with the admin of YesICanSurf and more news from the Industry will be published on MNO blog! Remember that you can follow me on Twitter if you wish to read all the important updates from Money-News-Online!