22/05/2010. TrumpForexClub Review and Other News

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

Hi guys! Hope you’re all having a good weekend so far. Anyway, before moving on to the news the program I want to look at this evening is a newly launched mid to long term HYIP called TrumpForexClub. They’ve got a couple of interesting plans on offer for fans of longer term HYIPs but they’ve also got a shorter term plan available for smaller investors as well. They started operating last Tuesday.

TrumpForexClub have a series of plans that make daily payments on business days only, Monday to Friday. The first of them is called The Trial Plan and with a name like that you can well imagine it’s intended more for testing purposes. Some of the other longer term options are a bit expensive for some online investors though, so this one could turn out a popular option in it’s own right. The plan runs for 20 business days (four weeks) and TrumpForexClub will pay you 1.6% interest per business day during that time. The minimum amount you can invest with is $5 and the maximum is also quite low at just $50. At least we know that if anything happens nobody can lose too much money from this one, though if you’re not happy with the returns on your investment you may be pleased to hear that compounding is allowed. Your principal will be returned on expiry leaving you with a total ROI of 132%.

The next plan in TrumpForexClub is called The Standard Plan and is actually a series of three distinct plans under the one umbrella. Here’s how it works – Level A takes deposits ranging from a $50 minimum to a $300 maximum. The investment term runs for 45 business days, or nine weeks. During that time you are offered a daily interest payment, made Monday to Friday, of 1.8%. By the time the plan expires your payments should have accumulated to 81% of your principal. That can then be considered profit once your principal gets returned.

Level B is open to investors willing to risk between $300 and $2000 for an investment term of 60 business days (12 weeks). Payments are made from Monday to Friday and will be 2% per day. That should add up to 120% by the end which will be your total profit once your principal gets returned. You will already have broken even after 50 business days.

And finally for the few remaining industry high rollers still out there TrumpForexClub has Level C. Deposits here start at a minimum of $2001 and just in case the real Donald Trump decides to get involved there is no maximum investment. Though I suspect we’re more likely to see Donald Duck in the HYIP industry these days, lol! Anyway, the term runs for 90 business days and makes interest payments of 2.4% daily from Monday to Friday giving you a total profit of 216% profit in addition to your principal which is returned on expiry.

Judging from the forums the plans seem popular enough among those deciding to join, though one thing that may hold the program back is the choice of payment options. It’s limited to just LibertyReserve and PerfectMoney so nothing that requires any verification on the admin’s behalf and nothing that will even consider intervening on your behalf in the event of a scam. But then again it might be the little reminder you need to keep your investment at a sensible level.

The security is a little better with TrumpForexClub being hosted on a dedicated server protected and supported by BlackLotus, who are providing them with their highest level of DDoS protection. The script is under license from GoldCoders and SSL encryption is in place for an extra layer of security. Any questions can be put to the admin via the support ticketing system on the contacts page. There is a Live Chat feature as well, although it isn’t specified what hours is open from. One feature that I liked was the “get started” guide which should be handy for industry newbies and includes practical tips on things like opening a payment processor account.

Quite a bit is written on the TrumpForexClub business plan but the fact is that despite claiming 23 years in business they didn’t have a functioning website until last Tuesday and no evidence of their activities is offered and no evidence of their alleged registration in Mexico. So take it as a regular online HYIP game, certainly until something more substantial is made available.

OTHER NEWS FOR TODAY.

I would like to thoroughly analyze the current disturbing situation with StrictPay which I just removed from my list of recommended payment processors tonight due to very severe issues with its liquidity and the current situation that led to the almost 100% impossibility of withdrawing money there. The reason behind these issues have been made clear in the most recent newsletter from them which is not very encouraging to say the least as it doesn’t specify as to when withdrawals are going to be back to normal and advises you to cancel the withdrawal requests if you wish. Let’s read the entire newsletter and try to analyze if it’s still safe to use StrictPay at the moment:
“StrictPay Customers
Many of our customers have asked for more specifics concerning our banking issues, and this email will serve as an update concerning those issues. For the duration of the issue described below, we were instructed by our legal team that we could not comment on the situation.
Recently, two of the major merchants that accepted StrictPay as a payment option were being heavily investigated by the authorities, and we were pulled into that investigation as well due to them accepting us as a payment option. During this investigation, the bank and the authorities were not allowing us access to our main reserve of funds until we could prove that we were not affiliated with those two merchants in any way. Our portion of the investigation is now over, as we have proven that we were not affiliated with either of these two programs, and were only one of the many online payment options that they accepted. The banks are needing the final paperwork to be completed, and then within the next 30 the 45 days they will be releasing the funds to us again. The entire time this has been going on we have still held to Panama KYC guidelines, and no customers’ secure personal information was compromised, with the exception of some specific information we were required to release concerning only those two merchants’ StrictPay accounts. We are glad this is finally over, and we look forward to getting back to business as usual very soon.
During the course of this investigation, we added some options (check by mail withdraw, zero bank wire deposit fees, and ACH deposit options) to give our customers as many alternatives as we could during this difficult time period. We still expect the time frames for withdraws to not be ideal until the banks release all of our funds, but our funding department will be using any funds we get to process all withdraw requests in the order they are received. We hope that this update will give everyone a little more clarification on our current situation, and we appreciate your patience and understanding during this trying time. If you wish to have a current pending withdraw canceled, so that you may use the funds in another manner, please submit a support ticket from inside your StrictPay account (at the Communications link), and someone will be able to help you with that. And as always, thank you for choosing StrictPay as your online payment option.
Thank you. Team StrictPay”.

Ok, first off the question arises exactly what HYI programs sparked the interest of the Panamanian authorities that caused the current severe banking delays. I would suggest that might be programs like PanaMoney and GeniusFunds that both accepted StrictPay as their payment processor. Anyway, the programs should be quite big to attract the attention of the financial agencies. Of course, we can’t say if StrictPay are telling the truth and not just trying to buy more time in hope new deposits will come in soon to pay to the older withdrawal requests. Just yesterday before the update was issued by StrictPay I tried to contact their live support and get an answer as to when the wire withdrawals are back to normal and it appears the operator didn’t know (or maybe just didn’t want to tell me) anything specific regarding this. So I wonder why all the secrecy surrounding the obvious issues that were known to everybody and really damaged StrictPay’s reputation now.

Second, I wonder why the decision of accepting Bank wires without any fees and the fast re-introduction of ACH deposits strangely coincides with their banking issues and authorities’ investigation. Wouldn’t it be more logical if StrictPay waited for a while till it’s all over before accepting deposits by any possible means? For me it just means deeper cash flow problems in the system that aren’t necessarily connected to what was discussed in the newsletter.

Finally, if we assume that any processor has its value then the value of StrictPay to the investors who cannot withdraw their funds and therefore lose confidence in them day after day pushing the current exchange rates further down. So I see that xChanger doesn’t accept the exchanges from StrictPay at all while ExtremeXchanger charges from 15% to 20% depending on what e-currencies you want to exchange SP. I think that devaluation together with withdrawal issues can create even more panic among the users and if it goes on much longer then StrictPay would not be able to recover from this blow. Well, it’s only one of the possible scenarios and I’m not saying this will happen anytime soon. However, if you compare this with the situation with e-Gold payment processor a couple of years ago you can see exactly what happened. Again I don’t want to create any unnecessary panic but I can’t recommend the use of a payment processor that is only accepting new deposits without processing any withdrawals. I want to allow the free discussion of this hot topic on the newly launched MNO forum and suggest you to register your account here and leave a comment in the StrictPay thread.

Yes, that finally happened too! MNO forum is being launched tonight. I’ll ask you to forgive me in advance for any possible technical difficulties that might arise as I’m quite new to this and together with my programmer will be checking it several times per day as I want to make sure everything is alright. Please read the rules of MNO forum here and get to know them better after signing up as I really want to make a difference and make a community of friendly and helpful investors who will respect other people’s opinions and will freely discuss any online money-making opportunities (not only HYIPs). Advertisers are also welcome to purchase ads on MNO forum at the very attractive introductory rates (read more here) that will only be available for a limited amount of time and will be increased as the forum gets a bit more popular. I also encourage the program admins whose programs are monitored by MNO to register on the forum and post something in their program threads. The programs I monitor will be assigned to a special folder called “Programs Monitored by MNO” but you’re welcome to create your own threads in “Current HYIPs Discussion” thread. Anyway, I will be checking the forum as well when I have free time so I hope to see you there.

After my review of FruitInvest that was published last night the admin of the program also announced it in the first newsletter for today. There was something more important mentioned in the second update though and it’s the first payouts from 116% after 4 days plan that are going to get processed today. I myself am going to receive my first payout on expiry from FruitInvest tomorrow and I will update you straight away after I get it. If you invested into the more profitable second plan offering 132% after 7 days you should wait for a few more days before it expires. The admin of FruitInvest George also encouraged everybody to post payment proofs on forums as soon as you get paid by the program for your chance to win a daily cash prize. Here is the latest from FruitInvest (reviewed here):
“Time has come. Payouts started getting processed.
I urge all the members to go to https://www.fruitinvest.com/rate.php and post your payment proofs on all the forums and monitors. This is very essential for FruitInvest growth. Please support FruitInvest by all means.
Winner of the best payment proof posting will get $10 reward everyday.
George”.

And the new program that’s been added to MNO today is called BookmakerOffice. The program offers some moderate returns to deposits which you can add via LibertyReserve and PerfectMoney payment processors. BookmakerOffice is quite a nice site that is running off a licensed GoldCoders script, having SSL-protection and is hosted on a dedicated Staminus server by DdoSWiz. But what are the plans you might ask? Well, they are quite reasonable and pay: 1% for 40 calendar days ($10-$500) and 1.5%-2% for 100 calendar days (for deposits over $500). Of course, your principal is going to be returned on expiry. More about BookmakerOffice can be read in my detailed review of the program on Monday.

Here is the list of the programs that paid me today:
OnyxInvClub, TopEarnClub, TrueEarn, FruitInvest, OilInvestment, IncoForex, AtoxFinance, StaunchFinances, TrumpForexClub, RogerVille, YesInvestment, GoldenInvestment, EzProfit, RedOrchidInvest, DubaiFinances, PrivateDiamondClub, NanoVenture and ForexNetClub.

That’s all for today, guys! Please don’t forget to register on the MNO forum and I hope to see you on my blog tomorrow!