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

Hi everyone! Before we get to the day’s news I’d like to look at one of the latest additions to my monitoring list called BalanceFunds. At this point it probably starting to sound like a cliché talking about the HYIP industry crisis over and over, but the fact is that it’s there and a lot of people don’t know how to get out of it. One good strategy used by admins to varying degrees of success has been to try and make their programs unique and to do something or offer something to set them apart from their competitors. And I think that’s what the BalanceFunds admin seems to be attempting with the mix of plans he has on offer. There are however some other issues he needs to address before the program can be a real success. I’ll get to that in a moment but first the plans.

There’s four of them you can choose from and they range from short to mid/long term. The first one runs for just 10 business days and is open to deposits between $5 and $150. There is then a daily payment of 1% returned to you until expiry when your principal gets returned leaving you with a total of 110%.

The next plan runs for 15 business days with a minimum deposit of $151 required to join. BalanceFunds then pays a higher rate of 1.3% interest from Monday to Friday with your principal returned on expiry. That leaves you with a total return of 119.5%. Maximum spend is $500.

For $501 BalanceFunds will put you into a plan that runs for 20 business days. Daily payments made Monday to Friday are of 1.5% so that will make up 130% in total once your principal is returned.

After that everything changes completely in BalanceFunds next plan. It’s a bit longer term and runs for 60 days this time. And that’s 60 calendar days this time and not business days so the payments, which are daily, are paid 7 days per week. Your principal is counted as part of the payments in this plan and therefore will not be returned.

The interest rate changes according to how much you spend with a minimum of $20 being required. Anything between that and $50 will get you 2.5% per day. That will see you break even after 40 days and finish with a total of $150.

Spend between $51 and $150 in this one and BalanceFunds will offer you 2.7% per day, allowing you to break even after 38 days and finish the term with a total of 162%.

For deposits between $151 and $500 the interest rate goes up to 3% per day. You break even after 34 days and finish with a total of 180%.

Larger deposits of $501 and more get a slight increase on that with BalanceFunds offering 3.1% per day. That would enable you to break even after 33 days and finish with a total of 186% of your initial principal.

One of two major drawbacks holding BalanceFunds back is the poor choice of payment processor. It’s the usual online HYIP staples of LibertyReserve and PerfectMoney so be sure you know what the risks are and don’t expect a great deal of help form them (none in fact) when the program eventually collapses. Most of the bigger investors prefer to avoid them if it’s possible. Payments are manual so need to be requested. The admin reckons he can get them done within six hours which is great but maybe a bit ambitious if he’s working alone.

The other thing that concerns me about BalanceFunds is security. I mean some aspects of it are fine and can’t really be faulted, but when it comes to the script I’m afraid it’s unlicensed. Which is kind of a pity really because the other good features are a bit undermined by that. They are hosted on a dedicated server from BlackLotus who are a decent provider and are using SSL encryption for extra protection. All that and no license? I asked the admin about that and he claims there are simply too many back doors (into GoldCoders) and that he needed it modified. Fine, then buy the license first and then make the modifications later because if anything goes wrong he won’t get any assistance whatsoever from GoldCoders and no matter what his misgivings about them are nobody knows the product better than them.

You can contact the admin in various ways but I guess the most efficient is through either submitting a support ticket or by e-mailing him directly at the address provided. For Live Chat he has opened a Skype account (though no schedule is given about when you’ll find him online. They have a postal address in Panama and a phone number you can try if you attach any importance to these things Like I said before, it’s great when HYIPs have phone numbers that actually get answered but try calling one of after you get scammed and see what happens then.

Overall BalanceFunds could do with a little extra work but has good potential if it’s done. Nobody is in profit just yet as they are still a relatively new program but a quick look around the forums would suggest the payments are carrying on without any problems so that at least is a good start. And if you prefer to wait a couple of more days for the principals to be returned from the first plan then keep an eye on MNO and I’ll make sure to let you know exactly when that happens.

OTHER NEWS FOR TODAY.

I got the first email from the admin of ExcellentChoice today. In it he clarified that despite the only plan offered by the program pays you 126% after 9 days your account will be credited with profits daily. However, that doesn’t mean that you’re going to be paid daily or request your cashout daily. As I explained in my review of ExcellentChoice (read it here) which was also features in today’s first newsletter you will only be paid on expiry. Please read the update carefully for further information on that:
“This is our first newsletter. We would like to tell you that our program was reviewed on the popular Money-News-Online blog, you can read the review here: http://money-news-online.com/blog/2010/06/09/08062010-excellentchoice-review-and-other-news/ There is also something we would like to clarify. We get many mails on the daily earnings issue. Daily earnings are visible in your account for information purposes, so you can check how long your deposit is active. The only plan we offer is 126% after 9 days and earnings can obviously be withdrawn only after a deposit expires. Please also note that principal is included with the earnings, so clean profit after 9 days is 26%.
Thank you and good luck, Natale Joshua”.

Despite lately the payments from GroupUniversal (reviewed here) took to be received longer than usual but anyway I received all my pending cashouts last night. And the email confirming the paid pendings came later on from the administration of GroupUniversal:
“Hello GroupUniversal Members, All withdrawals has been processed.
Best Regards. GroupUniversal”.

The admin of XaresFunds clarified yesterday’s newsletter and my comments on it. Sorry for the confusion as I was really devastated by the collapse of StaunchFinances and other good programs. Here is the newsletter from XaresFunds (reviewed here):
“We have been getting large number of mails with questions about the newsletter we have sent yesterday.
Seems there is a little misunderstanding when you read what Paul from MNO has commented and when you read the newsletter. Let me point out that:
If you want to (trade Forex and) follow our signal you must NOT deposit the amount in our program. You have to create a new account on the Forex broker that is supported by us. In case you already know about Forex, we will be offering our signal through Zulutrade and Rent A Signal.
The minimum deposit will NOT be changed. Only the maximum deposit limit from the Common Plan which is now $2500 will be changed to $5000. Still multiple deposit is possible if you want to invest more.
If you want to trade Forex by yourself (don’t try it if you haven’t done it before or you will lose your money!) you can do that even when you are following our signal.
You can test our signal on demo account before risking your own money.
We will give all the needed information when it is time,
at the moment our signals are ongoing verification.
Regards, XaresFunds.”

As you might remember the admin of DynFxTrade promised to start up some contests for the members to mark the start of the world cup in South Africa. Here are the long-anticipated rules of the contest:
“First of all, many thanks to those who took the opportunity to get free 10%
bonus to their upgrade for upgrading for the first time. Now, those upgraded
members have the chance to have more fun and win more BONUS!! Yes, World Cup
Contests are here!! Read below now!!
REMEMBER : You can get 10% BONUS when you upgrade now during the World Cup
season AND also be eligible to take part in the Contests below and win!
CONTEST 1
*****************************
World Cup Top Teams Contest!
****************************
This contest is very simple. What you need to do is choose the Top Teams
that will make it to the TOP 8!
This contest will start NOW and ends before the end of the group matches,
which we have fixed to be Friday June-25 2010. So you can start guessing now.
Only 1 guess for each category per upgraded member!
Category 1 – Predict the World Cup Champion.
Top Prize – $100 Bonus credited to your account as deposit.
Category 2 – Predict the top 2 teams that will enter the World Cup Finals
Top Prize – $75 Bonus credited to your account as deposit.
Category 3 – Predict the top 4 teams that will enter the World Cup Semi
Finals
Top Prize – $50 Bonus credited to your account as deposit.
Category 4 – Predict the top 8 teams that will enter the World Cup Quarter
Finals
Top Prize – $25 Bonus credited to your account as deposit.
The winner(s) will be those who guess the correct teams.
There will be only 1 prize each for Category 1 to Category 3. If there are
more than one correct winners, the prize will be shared out.
For Category 4, we are offering 2 prizes of $25 each. If there are more than
2 winners, we shall do a random draw to select the 2 winners.
What you need to do is submit your entries via e-mail using the e-mail that
you signed up with DynFxTrade to contest@dynfxtrade.com providing the following
information:-
Your DynFxTrade username
Your prediction for the contests as follows:-
Category 1 – Team X
Category 2 – Team X, Team Y
and so on.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Remember, only upgraded members are eligible to take part. So upgrade now
and still be entitled to the 10% bonus on your first upgrade!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
CONTEST 2
*********************
Daily Fun Contest!
*********************
This daily contest begins 10th June.
What you need to do is predict the final score of the match of the day that
we will announce in the members back office(from member news section). You need to submit your answer
BEFORE the start of the matches to be eligible. Again, only upgraded members
are eligible to enter. Prizes will be shown in the members back office.
Login to your members back office (click on member news) for more details on BOTH Contest 1 and
Contest 2!
This will be a very fun month and we hope you will enjoy World Cup and earn
with DynFxTrade. Again you will only earn when you are an upgraded member
and also to be eligible to join in the fun of the Contests, you need to
upgrade. Do it now!!
Let’s Enjoy World Cup!
DynFxTrade Team”.

And the first task to fulfill has been already sent by the admin of DynFxTrade so you can try your luck if you’re a football fan and win $1 cash prize straight away. Here are the rules and what you’re supposed to do to apply for the prize from DynFxTrade:
“Hi!Paul Your daily contest is here!
*********************
Daily Fun Contest!
*********************
Today’s Match Of the Day
South Africa vs Mexico
Predict the final score of the match.
Send your entry via e-mail (using the e-mail you join DynFxTrade with) to
contest@dynfxtrade.com with the following information:-
Your DynFxTrade username :
Your prediction : for example South Africa 3 : Mexico 2
Only submission received before the match begins will be eligible.
Prizes : 3 winners X $1 each.
We will award $1 each to the 3 correct entries. IF there is less than 3, we
wil award those correct entry(entries) only. IF more than 3, we will
randomly select only 3 winners. Our decision is final.
We will post winners in the news section of DynFxTrade website.
Start sending your entry now!! Remember, only upgraded members are eligible
to enter and if you are still a free member, you can take advantage of
upgrading now and receive a 10% bonus on your first upgrade!
Have fun! DynFxTrade Team”.

Finally I received an email from StrictPay. Actually it was just a reminder that they are still alive but struggling to process withdrawals. At the same time they emphasized the possibility to make deposits into StrictPay as well. Please do not do it just yet as they have not fully recovered and I can’t see any payment proof from anybody who received money to their bank account or by check. If you received anything recently please don’t hesitate to leave your feedback in the StrictPay thread on MNO Forum here. I’d be very cautious about using StrictPay now still but at least they are trying to communicate with members which is a very encouraging sign in my opinion. Anyway, I’m going to make an experiment and will make a withdrawal request to bank wire tomorrow. We will see if StrictPay can fulfill their promise by checking how much time it will really take (on the site it says 12 days now). So this will show us how far StrictPay really is on its way to recovery. Here is the long-anticipated update from them:
“StrictPay Customers
Bank wire and check by mail withdraw requests are happening now, and we expect debit card withdraw requests to begin happening soon as well. This will be a short update, but we also wanted to take the time to thank those that continue to support StrictPay. Many customers have sent us encouraging words, and we appreciate them trying to let people know that StrictPay will make it through this difficult situation.
We implemented the changes we needed to, so that we could insure the long-term success of our company, and we still have many features to offer our customers. You can still deposit funds via bank wire, ACH, or check by mail, and while there are delays, you can still do withdraws via bank wire, check by mail, or your StrictPay debit card. Please click on the Deposit or Withdraw links to see all the options, and choose each option to see details such as time frames, fees, etc.
Thank you again for your support, and we appreciate you choosing StrictPay as your payment option.
Team StrictPay”.

I got paid today from the following programs:
InWolton, HighYieldClub, OnyxInvClub, EarnForexProfit, PrivateDiamondClub, VezGroup, InvestAward, RedOrchidInvest, PrimeMoney, BookmakerOffice, GroupUniversal, DynFxTrade, InvestiHeaven, BukInvest, ForexNetClub, TrumpForexClub, BalanceFunds, YesInvestment, GoldenInvestment, EzProfit, KaizenPortfolio, OilInvestment, ExcellentChoice and CherryShares.
Be aware that I had some reports that TopEarnClub is not paying. I will ask the admin what the problem is and will move it to Problem status on MNO monitoring if it’s confirmed.

Please check back with my blog tomorrow for the review of InWolton and more news from the industry! See you all then!