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

Hi guys! Today’s second post is an interview with John Clements form the recently launched XoboFinance. That’s a new medium term HYIP that will either pay you by the day or by the week depending on which of their two plans you opt for.

Interest from investors in longer term programs is a bit shaky to say the least at the moment (but I guess you guys are the investors so you kinda knew that!) and it’s always a tougher side of the business to make a name for yourself. But I can only comment on their performance to date and so far XoboFinance have been performing well and paying their existing members to date. What more can we ask? Before we hear from John I’ll just quickly remind you that XoboFinance offers terms of 2%-2.8% for 40 business days, or 11%-15% for 8 weeks, principal returned on expiry. If you’d like further information then please refer back to my original review published here.

“1. Hi John, please introduce yourself to the readers of MNO and tell us about your own role within XoboFinance. What are your own duties within the program? How would you describe a typical working day for you as an admin of an online investment project?

Firstly, I would like to say hello to all of readers of MNO. My name is John Clements, I am the chief administrator of XoboFinance. Actually, we have a team consisting of four people and we’re all (you can say) forex player experts. But as the chief, it is my right to make decisions on everything although they have their own tasks. We spend most of our time in the ForEx market and each of us, in turn make payments to our members since we launched this program.

2. Can you also give us some background on the program? How long have you been running? What were you hoping to achieve by starting it in the first place? Apart from you is there anybody else working on XoboFinance?

It all began when we saw so many HYIP programs collapsing at such a young age. It is obvious that they don’t calculate things seriously or just take some big chances with customer’s money. As forex players for almost four years, we know exactly how much our average profit from the forex is market and how much we can offer to our partners. We have been successfully cooperating with our offline partners for a couple years, so why don’t we start to try to offer it to people all over the world online? We believe that we will survive to serve our members longer than others.

As we explained in the first question we consist of four persons who have the same skills in the ForEx market trading. And we will train a new person to be positioned in customer live chat support soon, so we can fully concentrate on the trading and money management.

3. What about the investment plans? Can you explain them in detail to us? What are the minimum and maximum amounts for investment, what rates of interest are on offer and how long do they run for?

Actually you have explained it on your review about XoboFinance. But it will be better if we mention it again here as we still accept many questions from our customer support especially about “how many days they will get payment”.
We offer two Main Plans, Daily and Weekly. The details of the plans are given below:

1) Daily Plans for 40 business days
$10 – $500 = 2% daily profit
$501 – $2000 = 2.4% daily profit
$2001 – $20000 = 2.8% daily profit
Members only get profit on business days (it means 5 days a week)

2) Weekly Plans for 8 weeks
$10 – $500 = 11% weekly profit
$501 – $2000 = 13% weekly profit
$2001 – $20000 =15% weekly profit

4. Tell us about the payment options available from XoboFinance. What payment processors are you currently dealing with? I said in my review that the lack of choice would be detrimental to the program. How do you respond? What would you do if LibertyReserve closed for site maintenance as happened several times last year? Do you have a contingency plan?

Currently we only dealing with LibertyReserve as the payment processor and we have no plans to add more in the near future.
We will do our best to keep our members satisfied, so we don’t want our member’s withdrawal be a pending withdrawal for a long time. That is why we only accept one e-currency (LibertyReserve only) as we mention it in our FAQ (to avoid an imbalance between the quantity of the e-currencies demanded and the quantity of the e-currencies supplied from the foreign exchange markets). Beside that we just use LibertyReserve to run our business all this time.

What would we do if LibertyReserve closed for site maintenance?. As our commitment to our members, they will still receive their profit sharing on their account balance daily as they should and of course we will pay it after LibertyReserve finish their maintenance. So where does the money come from?. We have a back up money called “Safety Fund” which is collected from a part of our daily profits. So, no matter what happens in the markets, we will keep to pay our members.

If we could say LibertyReserve do maintenance now and we aren’t able to trade, our Safety Fund is ready to pay our members for 10 business days (it means two weeks) with current amount of members’ deposits. And it’s really impossible for LibertyReserve to do site maintenance for such a long time.

5. How highly would you rate the security of your own website? Tell us about your hosting provider and how highly would you rate them as a service provider? There was a controversial incident recently with Koddos denying all knowledge about your program. Can you explain what happened there and why?

We don’t just plan to run our program for days, for weeks, even for months Paul, but we will run it for years. We have to prepare everyything about our program. The program’s name, layout design, the investment plans, how much rates we could offer, what script we would use as the basis of our program, what hosting we would use to protect our data, and what payment processors we would accept. We put some important informations on our main page including KoDDos that we have set from the beginning to use it as our hosting provider.

We have made a trial to our site almost for a month (you can check it on who.is) to make sure our system’s security and it’s impossible to use a DDoS Protection Hosting just for a trial, as you know that DDoS Protection has a high cost. That is why there was that incident. Anyway, we have used KoDDos protection on high risk plan now and we must say they have offered excellent support to protect us.

6. What about your script? Who is the provider and what do you think the benefits of this script are to both the admin and the investors? Are you using SSL encryption?

We proudly say that XoboFinance has a licensed script from GoldCoders. GoldCoders is the most popular script in this industry and people already know about the security features.

And yes, we also use SSL encryption from Comodo to ensure that members’ accounts are accessed in the most secure environment. Secure transaction is absolutely needed for both XoboFinance and the members. With a 256-bit SSL encryption, all sensitive information are encrypted and extremely secure from hackers cause they can’t see what members’ submit. Although we have to pay an extra fee for this service and we have to submit our personal information, we must use it for the guarantee of our members security.

7. What kind of customer support do you offer? What is the best and most efficient way to contact you if I have any questions?

Actually, we have three ways for our members to contact us. First is make contact with the admin’s e-mail address admin@xobofinance.com, second way is make a contact with support’s e-mail address xobofinance@gmail.com, and third is make contact with live chat support which is not available full time at the moment. We don’t have enough time to serve our members via chat online but we already have a long contract with the chat provider. But when we have time to spare, we open the chat online sometimes and we will train a new person to be positioned as customer live chat support operator soon.

The best way to contact us is by using “contact us” button in our site and we will answer it within 24 hours but sometimes will be much sooner.

8. What have been the most common questions, problems, or other support related issues that you have had to deal with so far? Is there anything you would like to address here so that members can avoid having to contact you?

The most common question I have to deal with is regarding “how many days they will get the profit in a week?”. I take the privilege to clear that doubt once again here. We pay the profit only for business days (it means 5 days a week) as we use the funds to trade on the foreign exchange market. So far, there are no “problem questions” about our program that we have to explain here.

9. What other outside business and investment activities are XoboFinance involved with? What are you doing with your member’s money and how are you generating such huge profits? Can we see any proof of these activities?

We don’t have any other outside business and we are involved in foreign exchange only. We have successfully used our own ForEx trading systems for years to generate our profits. Just like any other traders, we will not always win and we can loose on trading sometimes even that is very rare to happen . It’s why we have a discretion to take some of our profits and put it into our Safety Fund ensuring our customers’ money is safe.

And of course you can see the proof, but we have to make a deal first. If you can show a number that we need and you have a full commitment to support us on the ForEx market. Then we will show you anything you need after signing a contract in offline mode. And we won’t accept any new members on our online program anymore. It will be more easier to us to have a client rather than thousands.

10. I see a lot of your text has been copy/pasted from PanaMoney. In fact several other sites have taken the same text from the same source. So if it’s not original then how are investors expected to either believe your claims or to trust you as an admin?

We don’t deny that we use several sentences from PanaMoney on our site. But it all really describes us too. We are investors and brokers, we are money managers, we are ForEx market analysts, we have created our own ForEx trading systems, and we have the discretion to make “Safety Fund” to make sure our members’ money is safe. So what’s wrong about it? As you said that the other sites have taken the same text from the same source cause we are running on the same type of business. The most important thing for members is their money is safe and they always get the payments on time.

11. Are there any plans to develop XoboFinance further in the near future? Will there be any interesting changes made soon? How are you planning to keep the program competitive with so many new HYIPs opening every day?

We had a slower start compared to others (some of them already became scams) caused by some incidents, but we are really sure in the next 3 or 4 months people will start to know about our consistency to pay our members. So there is still no need to make some serious improvements.

We will just keep on our plan to launch a new kind of bonus program every month as we are committed. And sometimes give an addition bonus program on the middle of month.

We have a different strategy to promote our program. Many HYIPs will use monitors and buy their banners as much as possible to advertise their program, but we won’t do that. It would be better for us to pay our members rather than spend too much money to buy banners.

We believe, after 6 months, our members will do the promotions for us as we have a good percentage for referral commission.

12. And finally is there anything else you wish to say not covered in this interview? If there was just one thing you could say to investors to get them to join your program before any other then what would it be?

Thank you so much for our members who have joined and grown with us, we promise you to give our best to serve you.

We are on the right track and we are really sure that we will become stronger, time will proof it. Let’s see it together…”

That’s it for now but still not all for today, guys! I’ll be back a little later with the day’s news stories as well as a more detailed review of a new HYIP called GroupUniversal, so stay tuned for that!