Beware! WellGoTraders has stopped paying! Do not invest there!

Hi everyone! Unfortunately my short stay on the wonderful island of Cyprus has come to an end, and it’s back to the hustle and bustle of home and the big city for me today. I would hope nobody noticed any change in the level of service on MNO as all important news stories were still covered and my monitor updated a minimum of once every 24 hours, sometimes more. Home or away, that’s how I intend things to continue. On to business then, and the main point of today’s update is a brand new mid term program called WellGoTraders. It’s actually been a very slow day for news stories otherwise as you shall see in the news section coming up, so at least I can concentrate a bit more on explaining WellGoTraders properly for you. Not that there’s that much to explain as it’s a remarkably compact and easy to use program which I think a lot of you are probably going to like. Initial interest in the program has in fact been brisk, which given that the admin was taking his time about adding too many monitors is even more impressive. Impressive, but perhaps not surprising as WellGoTraders looks like an interesting project right from the start and does give a good first impression. So let’s see what they’re all about and whether you think the program is worth your attention or not.

There’s only one plan to chose from in WellGoTraders, so there’s nothing all that complicated going on in the program. It’s a sort of “one-size-fits-all” approach if you want to call it that, where all investors, big and small, are given the same basic interest rate. You can sign up and become a member for just a $7 minimum deposit, an unusual figure but nevertheless an affordable one I think. Once you’re a member then the investment term runs for 27 calendar days (just one short of four weeks). During this time WellGoTraders are offering their investors a daily interest payment of 7%. They are also including your initial principal as part of those payments, so don’t expect that back in a separate payment on expiry. Your total earnings accumulate to 189%, therefore leaving you with your own money back plus an extra 89% net profit on top for yourself. WellGoTraders have their maximum investment limit capped at a relatively conservative by HYIP standards $7,000. Conservative perhaps, but I still know almost nobody that would even be getting close to that level of spending these days anyway.

So how would a practical example look in monetary terms? Let’s say you join WellGoTraders with a $100 deposit. That would mean they pay you back $7 per day every day for the following 27 days. At the end of that time you should hopefully end up with $189 being returned to you, so it’s your own hundred back plus an extra $89 on top for joining. With your principal factored into the payments as it is, arguably a more important statistic for WellGoTraders investors is reaching the break-even point, i.e. how long it takes you to earn back an amount equivalent to your original deposit, therefore making it impossible for you to lose any of your own money if anything were to go wrong. This happens 15 days into the 27 day term, so everything you get paid from that point on is pure profit.

WellGoTraders isn’t the first or only program out there offering their members 7% interest per day of course, it’s just that unlike some of the others in this case you don’t have that factor of utter unpredictability that goes with the no-expiry date, perpetual style programs. You know the ones, where by allowing members to withdraw their entire principal on demand the admin retains very little control, or even knowledge for that matter, of his own program’s cash flow. So while yes, I agree that 7% per day might seem a little bit ambitious for some HYIPs, in WellGoTraders at least there’s a fixed, predictable, and managed plan that the admin has more direct influence over and will know what his obligations are from one day to the next. That isn’t going to make WellGoTraders any more sustainable purely by itself you understand, nothing can make the program last forever, but it does eliminate a lot of the sudden nasty surprises and at least help the program ticking over just that little bit longer. Even if it’s just an extra day or two this is all a lot of investors will need to carry them from a loss, to breaking even, to a small profit in WellGoTraders.

If you like the plan, and it really shouldn’t take you that long to decide whether you do or not, then the list of payment options made available to WellGoTraders members is as good as you might expect. All the popular and most widely used handlers are there, including PerfectMoney, EgoPay, and Payeer for those of you favoring the more traditional style payment processors, and BitCoin for members who prefer the more modern digital e-currencies. Payouts to members are handled manually by the WellGoTraders admin and so need to be requested by investors from inside their private account area. Once done you will then need to allow a further 24 hours to receive the money. Payments so far have mostly been pretty fast, and always well within terms. Remember of course that this is still the first full day of the program being online so I wouldn’t expect there are all that many transactions for the admin to be making just yet anyway, so the best thing is to be patient, wait the full required 24 hours, and take anything that comes a bit faster as a bonus.

Looking at the more technical, design, and security aspects of the program now, I already mentioned that WellGoTraders is running off a script under license from ShadowScript. Before going any further then I think it’s probably worth a few lines to explain the process of depositing here. More and more of you will already be familiar with the procedure by now of course as ShadowScript has been used by quite a lot of programs in the last couple of years, so skip this part if you want. But as it’s not quite at the same level as GoldCoders then I think it’s probably worth repeating just for the sake of newer industry players. So basically where you need to start with WellGoTraders, or any program using ShadowScript for that matter, is the need to fund your account, or e-wallet. From there it’s a question of re-directing your money from your e-wallet into an active investment plan of your choice. It doesn’t matter that WellGoTraders only have one actual plan, that’s just sort of a technicality as far as the script is concerned, because it’s more to do with the workings of the script than the program that members will still be required to manually move their money from A to B. So from inside your members area then you will see a number of buttons related to the various features in your account. The first of these is labeled “Fund e-Wallet” which I think tells you exactly what this is for. You click on this button to put money into your account balance. The next button is labeled “Make New Purchase” and this is where you now move the money you just deposited from your balance to an active investment in order to start earning. I really can’t stress this enough, but experienced investors might be surprised to learn how many people can forget this – if you do not move the money from your account balance to the investment plan then you have not completed your investment. It just sits there doing nothing, meaning the faster you move it the faster WellGoTraders will start paying you.

As for the other technical and security features, the WellGoTraders website is hosted on a dedicated server with the support and protection from malicious DDoS attacks provided by BlackLotus. For safer browsing and more secure transactions WellGoTraders also have a Green Bar (that’s the superior version) SSL encryption certificate from Comodo, which is always good for boosting investor confidence in the program using it, but does little to guarantee the safety of your actual deposit or long term profitability of your investment. Still, programs in general are much better off with it than without it.

If you have any further questions for the WellGoTraders admin or any account related issues that need to be dealt with then there’s a couple of different channels you can go through. As with most ShadowScript powered programs there’s an e-mail support form in the public area of the website than anyone can use, just fill in your details and submit it via the contacts page. For members only however, inside the account area you’ll find a somewhat more elaborate ticketing system. It works the same way of course, but also allows account holders to keep track of their communication and see how their questions are dealt with and resolved. WellGoTraders have a Skype account you can use for Live Chat, possibly telephone, support, plus a separate Live Chat feature already built in to the website. It’s not a 24 hour service but I know it does work, so it might be worth your while checking that out very quickly first before composing any longer e-mails. You might be lucky and have your questions answered immediately in real time if the admin/operator is online at the time.You’ll also notice a postal address in the UK, however that’s generally the last thing you should be looking at when it comes to an entirely online internet based HYIP. This is normally just a virtual address used by theoretically countless numbers of businesses, real or otherwise, for appearances and not where you find anyone connected with the program physically located.

More recently, just shortly before the publication of this review in fact, the WellGoTraders admin has been given an account on the MNO shoutbox in order to allow him speak directly with my readers and referrals. He’s logged in and posted there already so I hope he makes good use of this and tries to update us on any new developments at least once a day if he can, and perhaps field a couple of readers questions if he can. As the admin of a Premium Listed program on MNO the WellGoTraders admin is also entitled to a shoutbox account, something I would encourage serious and professional admins to think about themselves as it’s always been a good platform for debate among experienced industry players.

Regarding the website content (texts) and alleged business plan that’s supposed to fund all these payouts to members of the program, it’s that old HYIP industry favorite activity ForEx trading. Predictably enough there’s no real solid information that investors can go out and independently research and verify for themselves, though experienced players know not to bother anyway. ForEx trading, or any other kind of trading, is highly unlikely not just to provide that kind of rate in a day but also to somehow provide the exact same rate (whatever it happens to be) every single day for the plan’s duration. And anyway, for the sake of the newbies who might believe these things I would suggest that even if WellGoTraders were involved in the business they say they are, there can be absolutely no guarantee of it ever being profitable. Best then to proceed as you would with any online HYIP, with caution, and treat it as you might any form of gambling. That means setting yourselves a sensible spending limit you can comfortably afford to lose, keeping your expectations realistic, and if you join WellGoTraders at all then try and make more effective use of them by keeping it as a smaller part of a wider more diverse portfolio. It’s a promising program I have to say, and given the gap in the current market for something like this there’s definitely potential there as well as the risk. As long as the admin’s intentions are good and he knows what he’s doing (something I guess we’re going to find out one way or another in the coming weeks) then who knows where this one could lead?

DAILY NEWS FROM THE HYIP INDUSTRY

SILVEKS – DAILY INTEREST TEMPORARILY REDUCED FROM 2% TO 0.7%

The only news I have for you for today (as all the programs monitored on MNO still pay promptly as usual) is the reduced daily interest rate from Silveks. When originally reviewed on my blog three weeks ago (click here to read it) the program used to pay 2% daily with no expiry date and principal returned on demand with absolutely no fees involved. Despite quite a sustainable though lucrative daily interest rate first offered by Silveks the program failed to make any impact in the industry and is still flying very much under the radar. I believe the reason for this was huge competition in the industry chasing an ever dwindling pre-Christmas market and the unwillingness of investors to risk big amounts since after so many similar programs collapsed in October. Anyway, Silveks has been doing great so far and no payment via PerfectMoney, EgoPay, Payeer, or BitCoin ever took longer than a few hours. And nevertheless, prompt payouts and an affordable $10 minimum deposit in Silveks didn’t get the program the attention it deserves, so I believe that was the reason the admin decided to temporarily decrease the daily rates from the previous 2% to the current 0.7% of which everyone was informed on the site’s news page:

“The daily income interest will be diminished to 0.7%
Hello! Since it’s the end of the year and considering financial fluctuations on the global financial market, the daily income interest will be diminished to 0.7%. In early 2015, we’ll return to the previous interest rate.”

In other circumstances different from what happened to Silveks I would be very critical and even negative regarding this unexpected change. However in this case it’s obvious that no investors will be affected by the decision as anyone who doesn’t like the new terms can simply withdraw their principal from Silveks and try their luck elsewhere. In my honest opinion, this decision was clearly forced by a seasonal lack of activity and may in fact turn out to be a huge help for Silveks in surviving into the new year when it could become a success. Time will tell how the decision to drop the rate to 0.7% will affect the program’s incoming deposits and interest from prospective investors. Please be aware that the investment plans as described on the MNO monitor for Silveks have been changed accordingly.

PAYZA – NEW PARTNERSHIP ANNOUNCED WITH BITCOIN TRADERS

With the almost complete withdrawal of SolidTrustPay from the HYIP industry anyway, plus the restriction of their services from American account holders, options for US based investors have become more than a little thin in recent times. STP merely followed the lead set by PerfectMoney and then EgoPay who completely refuse service to US account holders. The reasons why would of course fill another blog article in themselves, and I don’t need to repeat them here (it’s all covered in the MNO archive anyway). It’s almost baffling to me then that almost with a free reign in the single biggest market in the HYIP industry, both in terms of individual investors as well as money, Payza hasn’t been having a much bigger impact. I mean it’s not just that they are still welcoming to American members, all that aside they’re still a pretty good payment processor based on their own merits anyway. The funding and withdrawal options in Payza are as good as anything you’ll find anywhere else, and now you can even use BitCoin for this. And it’s sort of on the subject of BitCoin (well, loosely on the subject anyway) that we see the latest update from the official Payza news blog. They’ve just teamed up with a service called BitYes, an online provider that allows users to trade digital e-currencies, specifically BitCoin and LiteCoin, for US dollars. Payza will now be a funding option for BitYes, so in many ways they do seem to be kind of re-inventing themselves as a service provider for BitCoin users now that they see less HYIP investors. Anyway, details of this latest partnership agreement can be found in the update below which I’m reposting from the Payza blog:

“BitYes.Com Partners with Payza for Black Friday Promotion
Payza members now have access to BitYes.com, an online trading platform operated by the professional and experienced team at Huobi that lets you buy and sell both Bitcoin and Litecoin using USD. Along with adding Payza as a funding method on their site, BitYes.com is also announcing a promotion “Bitcoin Black Friday”!
When adding funds to their BitYes.com accounts on Friday, November 28, Payza members will not pay any deposit fees. There will also be no transaction fees on the BitYes.com platform during this promotion. The special deal is a great way for Payza members to get familiar with the BitYes.com platform and to learn how to use all their tools and features.
BitYes.com is an online trading platform that allows members to buy and sell both Bitcoin and Litecoin with U.S. Dollars. Using their state-of-the-art trading platform, members can buy and sell the popular cryptocurrencies quickly and easily.
Learn more about BitYes.com on their website, or connect with them on their Facebook Page and on Twitter.”

GET PAID REPORT FOR 26/11/2014 

Here is the list of the programs from my monitor that paid me for the last 48 hours:
From MNO Sticky list: –
From MNO Premium list: OneStability, AssuredAssets, LaxoTrade, FXMutual, MaestroCapitalGroup, DailyProfit, CryptoFarm, Silveks, GHash, SafeKapital, Raisean, VentureWealth, WellGoTraders.
From MNO Standard list: CompassBusiness.
From MNO Basic list: ForexShare, OgdenOrganization, TheBornClub, MarkApter, SuccessRoadToWealth, NewLibertyReserve.

That’s all for tonight, folks. Not much to report as regards news stories, but I’m a bit more pleased to say that there was nothing at all to report as regards scams. All MNO monitored programs retain their good, Paying Status on my monitor, and that’s always a good thing. Before I go I just want to remind you all to please cast your vote and share your opinion in the current polls underway on the MNO TalkBack page. Two questions ask what investors think about the recent actions by the admin of what had been one of the most promising HYIPs on the net, Raisean, and his efforts to restore his program to its earlier promise. I’ll see you all again soon, maybe tomorrow but no later than Friday, so until then thanks a lot for reading and stay tuned for more!