11/08/2010. OriginFunds Review and Other News

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

Hi everyone! This morning I’m writing to you from the early train crossing the border from Sweden into Norway and on to Trondheim on the coast. And I must say as we speed past the lakes and the forested mountains and the stormy skies it’s hard to imagine a pleasant environment to work from today. Hopefully I’ll get through as much as possible before arriving. So before the news I want to look at a recently launched HYI program called OriginFunds. Out of the latest crop of new programs to be listed on MNO monitoring it’s the one I guess most of you might find more interesting.

OriginFunds is about a week or so online but that still counts as pretty much brand new when you look at exactly how long the investment terms run for, so by no means is it too late to consider joining. Far from it in fact, if you’re ever going to profit from this one then it’s going to be now. There’s only the one plan available so joining is going to be a pretty simple yes or no decision for you. Deposits can be made in your choice of either dollars or euros. The rate of interest you earn on your principal is based on the size of your initial deposit. The more you spend the more you get paid so in that sense OriginFunds is like your traditional online HYIP. But what’s a bit more unorthodox is the payment schedule.

The plan itself runs for a term of 210 calendar days, or 30 weeks. Payments are made 7 days per week, but from Monday to Friday the interest rate is higher while on weekends you will still be paid but only at a reduced rate. Here’s how it works:
For a minimum deposit of $15 up to a maximum of $150 OriginFunds offers you a weekday rate of 1.5% for 5 days followed by a weekend rate of 0.7% for 2 days. So for any given week you will make a total of 8.9% and this is what you get every week for 30 weeks. Your principal is already counted as part of the payments so the total return of 267% is 167% profit. From the 30 week term you will break even in less than 12 weeks and start counting the profits after that.

If we take a practical example of let’s say a $100 spend this is what we hope will happen. Every day from Monday to Friday OriginFunds will make a daily payment of $1.50 followed by two payments of $0.70c at the weekend. This will give you a total of $8.90 per week adding up to a total of $267 on expiry, $167 of which is profit.

And that’s pretty much how it continues up the line so if you’re prepared to risk a little extra money in return for an increased return then the following rates will apply. For deposits between $151 and $1,500 OriginFunds offers a weekday rate of 1.7% interest for 5 days followed by a weekend rate of 0.8% for 2 days. In practical terms that will allow you to earn 10.1% per week allowing you to break even after less than 11 weeks and finish the term with a total return of 303%. Again as your principal is not returned this is a 203% profit.

If we look at a simple example of a $200 investment here you should expect $3.40 per day from Monday to Friday ($17), followed by $1.60 per day at the weekend ($3.20). That brings in a total of $20.20 per week and a total of $606, $406 of which is profit.

Then finally for the bigger players wishing to play with anything between $1501 up to the maximum figure accepted by OriginFunds of $15,000 the following interest rates are offered. From Monday to Friday rates of 2% per day will apply (total 10%) and then for the weekend a daily rate of 1% (2% total) allowing you a total weekly return of 12%. As your initial deposit is not returned on expiry the final earnings of 360% consist of 260% profit.

You should also be aware that there is a get out early clause should you decide to change your mind about the whole thing. It only applies within the first 30 days of the term so think carefully. Anything after that and you will have to sit out the entire duration of the plan, however as most of you will (hopefully) be in profit after 10 to 12 weeks then staying for the full 30 doesn’t seem all that bad. Please note that there is a penalty of 15% deducted from your principal if you do wish to leave early, and all previous interest payments will also be deducted.

The choice of payment options is a bit disappointing, but to be honest that does seem to be the way with the majority of long term HYIPs at the moment and has been for a while. I know there’s exceptions but the general trend seems to be just to take LibertyReserve and PerfectMoney which is exactly what OriginFunds are doing here. Nothing wrong with either as I said before, except that they’re not a great deal of use when it comes to disputes over payments. That’s considered to be your problem and nothing to do with them, so just keep that in the back of your mind when deciding how much to spend.

Security and design aspects are up to a fairly decent standard it has to be said. Well, security maybe but less so the design. One sharp eyed reader pointed out that OriginFunds is practically a duplicate of what we might call a “regular” website. I contacted the admin about this and his reply was pretty much exactly what I suspected. It’s down to the designer and not the admin. However as everything ultimately falls back on the admin anyway he has suggested the site will be redesigned completely over the coming weeks. So let’s all keep an eye on it and see what happens.

DdoSWiz are the hosting provider and they are keeping OriginFunds on a dedicated Staminus server. The website is also protected with SSL encryption. The program is also running off a customized script. If you wish to contact customer support then you may do so by filling out the form on the contacts page and submitting it. There is also an e-mail address you may write to directly if you prefer. There is a telephone number if you wish to speak to an operator and a postal address in Geneva in Switzerland. By coincidence that happens to be a place I’d like to visit by the end of September so who knows? Maybe I’ll pay them a visit while I’m there!

Previous experience tells me I’m unlikely to find anything other than a “virtual” serviced office if I did find anything at all, but I’ll give the admin every opportunity to tell us about this if he agrees to an interview. But OriginFunds has at least taken the time and trouble to get themselves registered as a company. Despite the Swiss address the registration is held in the Seychelles. Not that I care that much for it myself (how many “registered company” HYIPs have closed in the past?) but it shows a little more effort from the admin and the first impression of professionalism always has a lasting effect. For what it’s worth the business side of things isn’t particularly well explained despite all the texts. They say a lot but at the same time say nothing if you know what I mean. Phrases such as “unique investment strategies “ are mentioned but not expanded on, and certainly not proven.

So if proceeding then do so with the usual caution reserved for online HYIPs until OriginFunds proves otherwise, but if you’re happy with that and happy to play then it’s not a bad looking program. Keep it sensible of course and as always keep it as part of a wider more diverse portfolio. Might be an interesting one to follow with an affordable few bucks as the industry hopefully picks up in the autumn.

OTHER NEWS FOR TODAY.

Unfortunately, yesterday only a few withdrawal requests were honored by the administration of PrivateDiamondClub. Its admin Lars surely warned me about that in his latest update but didn’t give any reason for these delays and did not specify a timeframe for when the payouts should be completed. I myself only received one withdrawal from a few pendings and I couldn’t find anything about that either on their site, or in the regular updates. So I assume that PrivateDiamondClub cannot be recommended for further investments anymore but I still hope that Lars will come through and pay all the pendings soon. Let’s see if this happens! Meanwhile, PrivateDiamondClub stays on Waiting status on MNO.

It looks like there is a fight between the followers and supporters of CherryShares and FundsOMatic programs in my voting poll. Both programs are currently joint leaders of the poll, frequently trading first and second place. Three other programs presented there are can also be voted for (InWolton, RedOrchidInvest and OilStructure) but I am not so sure that they can overtake the current leaders. Well, anyway the poll is to be concluded on Monday so we will see who will become the most popular program among the current low-ROI leaders on the market. Thanks again for the voting and keep the votes coming, guys!

I have been paid today from the following programs:
GlobalTradeManagers, WorldPrivateFunds, OriginFunds, ReProFinance, SeatRonacs, PawnShopFund, OilStructure, HOX, InWolton, Flamanta, CashMiner, Forexica, BookmakerOffice, BullInvest, RedOrchidInvest, FundsOMatic, EzProfit, YesInvestment, CherryShares, JustDollars, FutureTrails, OptimumPride, AvaInvestment, GoldFinanceCorp, OnyxInvClub, GroupUniversal and 144CashAds.

That’s all for today, guys! I am going to explore Norway further and wish you a nice day (or night, depending on when you read this) ahead. Stay positive and don’t forget to check out MNO tomorrow for the latest news from HYIP industry!