10/12/2009. Interview with the admin of GloTrade

BEWARE! THIS PROGRAM HAS STOPPED PAYING! PLEASE DON’T INVEST!

Hi everyone! Well it’s another full day for money-news-online and I have quite a bit to get through again. As is usual by now I’ll be back online later this evening with all the latest news stories from the programs on my monitoring page so make sure and keep an eye out for that.

The first order of business for the day however is this latest interview I have received from the admin of the very impressive GloTrade. It’s a recently launched low rate of interest mid-term investment project that’s been online for just over three weeks now. It’s been a slow burner compared to shorter term programs but that’s about right for a program like this. GloTrade offers plans that pay 2% for 20 business days and 2.5% for 40 business days with your principal returned on expiry. There’s a couple of interesting features to GloTrade actually, so if you find the interview in any way interesting or helpful then you can always refer back to my original review published here for further details. I think the admin does quite a good job of explaining things though.

“1. Please introduce yourself to my readers and tell us the main reasons why you opened your online investment program.

I am Jarrous Sneisen, one of the administrators at GloTrade overseeing the financial development and online structuring of the website. Our team consists of 4 professional traders (including me) out of which two of my team mates are stock brokers turned full-time traders. Initially, we wanted to convert our combined efforts into a brokerage firm that would offer trading opportunities to the common man. We held onto this idea,which grew wings and led us to the virtual world. Discovering the massive online money-making industry, we knew we had just found the best way to reach out to people who wanted to make it in the global trading markets.

So, this stands as the primary reason behind the creation of GloTrade. For us, this is just the first milestone from which we are planning to turn it into a massive empire. In just about 6 months from now, you will be able to see GloTrade transform into a sturdy online investment firm.

2. Tell us how many people are in your team and what functions they perform.

Like I said earlier, there are 4 of us in this team. We all contribute with the regular trading activities while keeping abreast with the current global headlines that act as potential stimuli to the trading markets such as in the case of 9/11, which brought down the global stock markets in a gigantic wave. It is very crucial for traders like us to keep our ears and eyes pinned to the global news and events.

To help us out with managing the additional tasks, we have hired the valuable and reliable services of Joy Wilson, a committed professional who has taken each challenge and responsibility with enthusiasm and gusto. That’s just about everyone at GloTrade for now but we will be bringing more people aboard in future.

3. What investment plans do you offer online investors? Please tell us if it’s possible to compound, withdraw the principal before expiry and about the minimum and the maximum amount allowed in each plan.

GloTrade has 2 plans for its members, the GT20 and GT40. The numerals indicate the validity period of each plan, namely 20 and 40 days.

In GT20, each investor will gain a 2% profit each business day. The minimum investment is $5 and goes up to a maximum of $5000.

GT40 gives each investor a 2.5% daily profit for 40 business days, an ideal plan for investors to double their money in a short period. The option to withdraw his or her principal amount is possible from the 21st day,for which a withdrawal fee will be charged. Any withdrawals made after the 40th day will be exempted from any additional withdrawal fee. Investments in GT40 come at a minimum of $10 and within a limit of $10,000.

Since most of our members have shown their interest in the GT40 plan, GT20 may be lifted off from the program to suit the current demands and our long-standing strategies.

4. What payment processors do you accept currently? Do you plan to add more payment options for the investors of GloTrade in the near future? Will you accept Bank wires at some point?

LibertyReserve, PerfectMoney and StrictPay are now accepted at GloTrade. We have no plans to add any other payment processors since quite a few of them seem to be facing some problems with investment programs in recent times.

We may even be looking at the exclusion of existing payment processors in future, should we face any necessity.

The inclusion of Bank wire transfers at GloTrade is currently being processed and should be available by 2010. This option seems to be the most feasible one of all when compared to the online payment processors,especially since we are expanding into a trading firm.

5. Can you tell us more about your trading activities and where you invest the members’ money? What level of risk does it carry?

Our concentration lies in Futures trading, a highly predictable and profitable crowd puller in the global trading markets. The major indexes we are involved in include FTSE UK Index, CAC40 Index, DAX Index, S&P CNX Nifty, Nikkei225 Index,DJIA Futures Contract, S&P 500 Futures Contract and the SHANGHAI STOCK EXCHANGE.

As this vehicle is built to travel effortlessly in any direction the market is headed, the Futures trading markets are relatively much ‘safer’ to work with when compared to other trading options. As far as risks are concerned, our knowledge of the prime characteristics of the Futures trading markets and the influence of external stimuli caused by any influential global headlines prevent any ‘slips’ and ‘losses’.

6. Tell us more about the means of communication with your investors. What is the best way to get in touch with you? When is the live chat open and what is the main purpose of your own blog?

It is very important for us to maintain a very good rapport with our members and have been making every possible effort to do that. Helpdesk services at GloTrade is available almost throughout the day so we normally have been able to respond to our members almost immediately, much like a live chat facility functions.

As we have hired just 1 staff for now, she is constantly multi-tasking in the areas of payouts and Helpdesk, making it difficult for her to operate the Live chat service continuously. The Live chat service will only be available for between 6-8 hours each day. Soon, you can expect us to expand our staff and the live chat and phone chat services will become more active throughout the day.

The main purpose of our blog is to update our members with our regular trading activities and important news and updates. This blog will function even if our main website faces downtime. So, everyone will find this tool extremely useful.

7. What script did you choose for GloTrade and why did you make this decision?

Before we launched this website, we did a thorough research on the type of scripts for online programs and came across the Neversay script, a highly recommended option as according to many forums and members. So, this became the ideal option for GloTrade. As we have not faced any issues with this script, we believe this has been the perfect choice for us.

Now, we have gained much more information and ideas about this and have ordered a new custom script,which will be ready by the first week of January. So, GloTrade will undergo a new facelift soon.

8. What hosting provider do you use? Are you on a dedicated server and do you have DDoS-protection?

GloTrade is using a dedicated server bought from Staminus Communications which we overheard is suitable for online investment programs. We concentrated more on the DDOS protection,for which we added a multi-layered DDOS protection and SSL certification to the server.

We are glad that our website has been online for about 4 weeks and has not faced even a second of downtime.

9. What can you say about the advertising efforts to make GloTrade known to its potential investors? Where do you mainly advertise your program?

We have made some initial advertising efforts for GloTrade including the addition of about 45 investment monitors. Even then, we are not convinced with most of them but a handful of them have proved to be very helpful. I must also admit that your blog brought in good traffic to our website and so the next level of advertising will be focused on very few advertising channels which we feel are worthwhile.

10. The program has been online for a few weeks already. Are you satisfied with its level of growth so far and how do you expect to get through this dangerous Christmas period when the majority of the investors try to withdraw their money from investment programs rather then deposit it?

GloTrade has over 300 members now and we still have a long way to go. We prefer to see a slow and steady growth in the charts as that would always strengthen the roots of the program over time. We are wondering why this season is considered a ‘dangerous’ one.

GloTrade members will only find this season a fruitful one because we are bringing in the good cheer this festive season with some wonderful offers.

11. Can you share with us what plans for the future you have and how you see your program in 2010.

We have numerous plans to make GloTrade a full-fledged investment firm and it will take all day for us to talk about it! I have mentioned a few of them in the previous questions,which should keep everyone busy for now.

So, in 2010 GloTrade will have a new look with its customized script and enhanced member support services.

12. What kind of investment advice would you give to online investors to stay mostly in profit from HYIPs?

That is one question that would be sound better responded by an industry expert like you. Our knowledge on the trading industry is far better than that of online investing. So, my viewpoint is since there is no ‘stop loss’ option in online HYIPs, you have to keep an eye on your investments.

As Warren Buffet would put it, “Wide diversification is only required when investors do not understand what they are doing.” – I guess this quote would help online investors to deal with their money in a smarter way.

13. Why would an average investor spoiled for choice consider your program while there are so many others around? In other words what would differentiate GloTrade from others in your honest opinion?

We believe that each program has its pros and cons. We are not here to dethrone or defame anyone. We invest our members’ funds in day trading and return a reasonable percentage of the profits to them during the weekdays that are evaluated and monitored stringently. We urge interested members to wait and watch our activities before involving themselves in any of our plans. Do your bit of research and comprehending before stepping in.

14. Finally here you can say anything you find important and that has not been asked here. Thanks for taking my interview.

I think you have covered each nook and corner of GloTrade and hope that we have given sufficient information about us and our work for everyone. As traders, we have always been our own employers and so we never had the need to face interviews. Now, with this program, we are thrilled at the thought of being interviewed! It sure has been a wild experience for us!

We would like to thank you for this wonderful opportunity and its an honor to be interviewed by a great blogger like you with so many followers.”

As usual I’d also like to thank Jarrous for taking the time and effort to put all of this together. I hope you find it beneficial when deciding if GloTrade is a suitable opportunity for you, but I think you’ll agree that they have made a decent effort.

That’s about it for the moment guys but as I said I’ll be back online later tonight with all the latest news stories from around the industry. I’ll also be taking a closer look at one of the new programs to be added to my monitoring list. See you then!