Beware! MGProfit has stopped paying! Do not invest!

Hi everybody! You’ll have noticed a fair number of new programs so far this month, either brand new HYIPs or existing ones just joining the MNO monitor site as they begin to expand their advertising campaigns for the new year, and one thing that I’ve liked seeing so far is the variety. A lot of them are totally different from each other, and I guess that’s probably a good thing for the industry overall. So tonight before the news section I’m going to have a closer look at a program called MGProfit. This is a brand new program that opened just last weekend, and one that might appeal to fans of medium/long term HYIPs. MGProfit is quite a simple and uncomplicated program in many ways, offering just one single investment plan and so making it a pretty easy decision for you to join or not (you’re either going to like it or not, and you’ll know that straight away). But don’t be misled by that because in many other ways MGProfit has as many features as you would expect from a decent standard HYIP regarding things like payment options and online security. I’ll get to all that in just a moment, but first let’s start with the plan.

As I said there’s only one to choose from, so you either take it or leave it, but at least it makes for an easy review. You can join MGProfit for a $20 minimum deposit, and in return get paid a daily interest rate. The term runs for 50 calendar days, and the rate you earn will be 3% daily. This is unaffected by the actual size of your deposit and will be paid to all members regardless of how much you decide to spend. It’s only limited by a $100,000 maximum limit placed on deposits, though as far as the average HYIP investor is concerned that may as well be no limit at all. In addition to the daily interest payments MGProfit should also return your principal on expiry, making for a total return of 250%, or a massive net profit of 150%.

So if we look at how this should hopefully work for us in practical terms, let’s say you invested a nice round figure of $100. for this MGProfits should give you back $3 per day for 50 consecutive days, adding up to $150 in total, and then adding your initial hundred to that again. You would break even (earn back an amount equal to your original deposit) after 34 days, so only from that point on is there zero personal risk to your own money.

Payment options are as good as anything else around the industry these days, with the MGProfit admin knowing that investors expect no less than all the popular options to be in place before taking the program seriously these days. You can use SolidTrustPay, EgoPay, PerfectMoney, or LibertyReserve to deposit or withdraw, with withdrawals being processed manually by the admin. This requires you to log in to your MGProfit account and make the request for it yourself, and once done you should expect the transaction to be complete within 12 hours.

On the design and security side of things, MGProfit runs off a licensed GoldCoders script which I’m sure will give it a very familiar feel to the majority of investors by now, they being so dominant in the market for so long now. The MGProfit website is fully SSL encrypted for safer browsing and more secure transactions, and is hosted on a dedicated server with the support and protection of BlackLotus who are a very established name and thought of highly by many in the industry. If you need to get in touch with the MGProfit admin with any further questions or account related issues then he can be reached by an excellent variety of ways. There’s the usual support ticketing form that you can fill out and submit via the support page, or else just e-mail them directly at the address listed. MGProfit also have a Live Chat feature which unlike many of their competitors actually works this time, though personally I can’t vouch for the claim that it’s a 24 hour service (I do have to sleep some time you know!). Or if you’d like to speak to someone directly in person you can try your luck with their telephone number. Other than that MGProfit list a postal address for you as well, though I suggest not wasting your time if you find yourself in the neighborhood as you’d be highly unlikely to find anyone who’s even remotely connected to the program in the building. These things are generally used as registered addresses for mailing purposes and not functioning workplaces.

As for the website content, texts, and any alleged business plan backing it all up, MGProfit seem to start by making more of an effort than most by having some UK company registration documents, however I wouldn’t even bother checking if these were genuine simply because I know for a fact how easily, cheaply, and anonymously totally genuine documents can be obtained online without any questions being asked. The only purpose it serves is to register a name, it doesn’t actually make you a genuine company licensed to offer financial services. Still, if first impressions are important at least MGProfit made an effort to impress the industry newbies with this. As for the alleged business itself, MGProfit is claiming to be involved in international stock market trading and ForEx. Experienced HYIP players will no doubt be sniggering and rolling their eyes at yet another such claim, however it’s worth mentioning for the newbies that a lot of the texts are simply copy/pasted from other online HYIP websites and have been used before. So unfortunately a bit less effort was made in the content than on the company registration documents, proving my point that you can register a company in the UK easier and cheaper than you can get someone to write a couple of original lines for you!

At the end of the day though this is all very vague and nothing can be independently researched and verified by you the investor, so the only course of action left open to you is one of extreme caution, which is exactly how I suggest you approach every HYIP anyway, not just MGProfit. They all have a limited shelf life but the potential window is always there for some members to do very well from it. Just don’t expect guarantees here (I know I certainly wouldn’t offer them) so always, and I do mean always, stay well within an operating budget that you can comfortably afford to lose, and if joining MGProfit at all then try to keep them as a smaller part of a wider more diverse portfolio. That way if any one program closes your investments in the others might help you recoup the losses.

DAILY NEWS FROM THE INDUSTRY

SUREINV – CLARIFICATION REGARDING INVESTMENT CALCULATIONS

After 55 days online and monitored by MNO SureInv (reviewed here) managed to become one of the most popular choices among readers and has now reached the #4 position on the Premium List. There’s still a lot of room left for them to grow and maybe reach the #1 spot, but there’s no doubt in my mind that SureInv could reach that point eventually. Judge for yourselves – the program is running off possibly the best script on the market Shadow script, accepts all the popular payment options starting from a $10 minimum – SolidTrustPay, EgoPay, PexPay, LibertyReserve, PerfectMoney – and offers fast payments (processed only on business days) to three lucrative yet sustainable plans – 5% for 30 business days, 4% for 45 business days, 3.5% for 60 business days. Yet there’s a lot of debate going on at the moment apparently about which plan is better. Definitely that depends on your own investment goals, but in my opinion (and many other experienced investors would agree) the 30 business day plan is surely the way to go if you want faster returns for less risk. However in the latest newsletter from SureInv the admin tried to explain why the longest investment plan is more lucrative than the shortest one and tried to prove his point with some detailed calculations that might help if you intend to invest in the program but are undecided which plan to choose. The latest newsletter from SureInv is republished in full below:

“News 9. January 2013
Hello all
In todays newsletter I’d like to address a myth, that puzzled some of our clients who contacted us during the past few days, concluding that our investment plans are not thought through – or are even bizarre!
They say our 5% for 30 days plan is more profitable than our 3.5% for 60 days plan, if investing in the 30 day plan for a second term – after the expiration of the first term. This is of course not the case and I will explain to you why. So lets do the math:
First at all, we need to break down the interest rate into net profit. As you all know, the original principal is incorporated in your daily profit in all of our plans. The incorporated principal return rate is 3.333% daily for our 30 day plan, while 1.667% remains net profit. For our 60 day plan the incorporated principal return rate is 1.667% daily, while 1.833% remains net profit.
Now I will give you concrete example:
Lets assume you have $100 in your payment processor account and you are investing this $100 for 30 days with SureInv. After 30 days your payment processor balance will be $150. Right?
If you invest $100 again for a second 30 day term, your current payment processor account balance would be $50 for the time being. During the second term we pay you again $150 which is added to your payment processor account and leaves you with $200 in total.
Now, lets assume that you invest $100 into our 60 day plan: At the end of the 60 day term your payment processor account balance will be $210.
The above example shows us that the 60 day plan is indeed our most profitable plan.
In addition, lets have a look at the ever important risk factor as well. I am talking about the BEP or break-even point. The break-even point is the point at which gains equal losses, meaning that after that point you are in profit with your investment.
The break-even point for our 30 day plan is reached after 20 days, meaning that after receiving the interest on day 21 you are in profit. The break-even point for our 60 day plan is reached at 29 days, meaning that after receiving the interest on day 29 you are in profit.
On the other side, a second investment into our 30 day plan will result in just another 20 day period before reaching BEP.
I felt a necessity to explain our investment plans in detail, in order to avoid confusion among our clients while investing in any of our plans. In any case, you should be comfortable with your investment with SureInv and make your decision on what suits your investment goals best.
Thanks for reading, we are back soon with more news from SureInv.
Best regards, TJ”.

SAFEGUARDWALLET – SOLIDTRUSTPAY ADDED AND EGOPAY TO BE ADDED SOON

Some good news from SafeguardWallet (reviewed here) came earlier than expected for those who prefer using SolidTrustPay as their payment processor of choice for HYIP investments. Just a few days after the launch the admin of SafeguardWallet added SolidTrustPay which joins LibertyReserve and PerfectMoney. The existing members of SafeguardWallet should update their profile in the program by adding their STP account username and then they can safely deposit into the 18% for 8 days plan for a $10 minimum:

“SolidTrustPay added to SafeguardWallet
SafeguardWallet Members,
We have added SolidTrustPay as a third processor to SafeguardWallet. You may now make SolidTrustPay deposits from your SafeguardWallet Account Area. Please contact us if you have any questions or concerns regarding SolidTrustPay.
Thank You, SafeguardWallet Administration”.

More good news came later in the second official newsletter from SafeguardWallet today, with the admin promising to add EgoPay soon. Also mentioned was the script issues reported by some members recently. You should be aware that interest crediting may be done at different times every day due to the ProBizScript peculiarities, so don’t expect the 18% return to be paid every day at the same time. And don’t forget to allow at least 24 hours to be paid after submitting the withdrawal request as required by SafeguardWallet‘s terms and conditions. This was all covered in the latest newsletter from SafeguardWallet which you can read in full below:

“SafeguardWallet Newsletter #2
Hello SafeguardWallet Members,
First thing to announce for our second newsletter is the milestone of 1000 active investments.
Also if you did not already know we added a third processor, SolidTrustPay. You can login and make any new deposit using SolidTrustPay.
Our next processor to be implemented is EgoPay which we expect to add soon and will be announced via newsletter.
Also as a reminder, for payouts please allow up to 24 hours always for them to be processed before contacting support.
Reminder, our site automatically credits interest. Crediting is automatic and may be added at a different time of the day. Please do not open a support ticket about this. All interest will be paid and credit as it is automated.
Thank You from the SafeguardWallet Administration Team”.

FELMINAALLIANCE – ANOTHER HOLIDAY TODAY

I think Panamanians as a nation must be the kind of of people who really like to enjoy themselves, taking holidays off for everything. It goes well with the plans of FelminaAlliance‘s administration as they seem glad to celebrate Martyr’s Day for the second time within a week today with the rest of people of Panama. I heard that in February this year there will be five days in a row when the good people of Panama hold a carnival and I’m afraid FelminaAlliance will be joining in. Anyway, please remember that due to an official holiday in Panama today as observed by FelminaAlliance there will be no payments for either the 0.8%-1.4% for 90 business days, or 1%-1.6% for 180 business days plans. FelminaAlliance (reviewed here) will also return your original principal on expiry via SolidTrustPay, EgoPay, LibertyReserve, PerfectMoney or even direct Bank wires. Although I heard recently that FelminaAlliance had some issues with processing withdrawal requests via Bank wires, my referrals were not affected (apparently because nobody used them) and therefore, I leave FelminaAlliance on Paying status on MNO, as all the payments to STP, EP, LR and PM are still processed on time and I received a pending withdrawal today despite the holiday announced in the latest newsletter today:

“[FelminaAlliance] Official Newsletter
This is an official newsletter from FelminaAlliance Inc.
Wednesday, January 9, 2013, is Martyr’s Day in Panama.
We observe the official holidays in the US and Panama. According to our terms of service, we do not pay interest on weekend days and official holidays. Therefore, no interest will be paid on this day.
Please do not hesitate to contact us should you have any questions and need help with anything. Your thoughts on how to improve our website and the services we offer are more than welcome.
Best Regards, Marketing Department,
FelminaAlliance Inc.”

GET PAID REPORT FOR 09/01/2013

Here is the list of the programs from my monitor that paid me for the last 24 hours:
From MNO Sticky list: CashROTOR, ProForexUnion, UsdTrading.
From MNO Premium list: ProfitableSunrise, EurexTrade, FelminaAlliance, SureInv, StallionGold, ProsperaNova, Mox, DiamondAsset, EpicRoyalFund, BensonUnion, 4FXInvestment, Nubcoyu, Stravia, ZionFinance, SafeguardWallet, BankPaying, Xgolding, AlevrasInvestments, MGProfit.
From MNO Standard list: AustralianBusinessGroup.
From MNO Basic list: XtremeRichness, TrackInvest, ForexMoneyBank, Fxen, InvestmentCapital, MainaLimited, Finance7, TheInvestmentBank, Monearn, Money&Credit.

That’s all for today, guys, apart from a short but important update from Jurgen from NewGNi. Expect an official newsletter from NewGNi by tomorrow which will hopefully cover the latest withdrawal delays and let us all know what to expect in the future. You’ll be able to read it with my own comments MNO as soon as I get my hands on it! So stay tuned and see you all tomorrow!