19/05/2012. MidasFinance Review and Daily News from the Industry

 Beware! MidasFinance has stopped paying! Do not invest!

Hi everybody! Hope you’re all having a nice weekend so far whatever you’re getting up to. But no matter how busy you get or how much you want to relax, the HYIP industry carries on as always and today is no exception even if it is Saturday. So before this evening’s news stories I want to look a little closer at one of the latest additions to the MNO monitoring page called MidasFinance, which is a fairly basic run-of-the-mill HYIP that’s already been online for over a month now, so do factor that into your plans if thinking about joining. But let’s start as ever with a look at MidasFinance‘s investment plans.

There’s a number of different options at your disposal within the program, though not all of them would be considered affordable by the average investor. Having said that however the most basic option will still only set you back a $10 minimum to join. Plans are more medium to longer term in length, and for the aforementioned $10 minimum MidasFinance have one that runs for 40 calendar days. During that time you are offered 1% interest per day, and on completion of the term expect your principal to be returned, leaving the investor with a net profit of 40%. Maximum spend for this plan is $500.

Deposits from a $500 minimum up to a value of $2,000 are placed in a plan running for 60 calendar days. During this time interest payments are again made on a daily basis, and calculated at 3.6% per day. At the end of the term MidasFinance return your initial principal, leaving you with profit payments accumulating to 216% though you should have broken 28 days into the term.

For the really big gamblers out there prepared to risk between a $2,000 minimum and a top level of $10,000 then MidasFinance‘s third plan is available to you. It runs for 90 calendar days, making daily interest payments of 4.6%. This will allow you to break even 22 days into the term and, everything going as intended, allow you to finish with a net profit of a somewhat unfeasibly high 414% in addition to your original deposit getting returned.

For a shorter term option MidasFinance have one additional plan that runs for 20 calendar days. Unfortunately it costs a $1,000 minimum to play so again it’s well out of most investor’s reach, but for information purposes I’ll tell you about it anyway. For the duration of the term you are offered a daily interest payment of 10%, adding up to 200% on expiry. In this case however MidasFinance will NOT return your principal at the end, so please be aware of that. Maximum spend is $10,000.

The list of payment options is a bit mixed. On one hand MidasFinance seem to have plenty of them, but on the other most of them aren’t really all that popular in the HYIP industry. As far as most players will be concerned the options begin and end with LibertyReserve and PerfectMoney. Though if you don’t much care for these options you can also try MoneyBookers and AsianReserve. For a $500 or bigger deposit MidasFinance will also take bank wire transfers. Strangely enough though the program’s FAQ page makes the statement “Sorry, but our systems are only setup to receive payments via liberty reserve” so make what you will from that! Withdrawals are made manually and so will have to be requested from inside your member’s account area. Once you have submitted it the MidasFinance admin requires you allow up to 12 hours in order for them to process the transaction completely. Also one other thing in relation to the plans is that MidasFinance are currently offering a 25% deposit bonus on all deposits which they say is also withdrawable. I don’t know how long this offer is valid for but I can’t imagine something that big not having a negative impact on cash flow before too long so I’d guess it won’t be for long. Please also note that compounding, though I wouldn’t usually bother with it myself, is available if you want.

The security of MidasFinance is up to a better standard I suppose, the website being SSL encrypted by Comodo for extra safety. At first glance I was almost sure the script was from GoldCoders, so be careful if you’re checking up on this because it isn’t. It does look a bit similar but in actual fact it’s under license from HotHyipScript which you can verify from their website. MidasFinance is hosted on a dedicated Staminus server with support and protection from DDoS attacks by GeniusGuard. If you have any further questions for the admin or any account related issues then you can contact the MidasFinance support by filling in the online electronic form and submitting it, or by contacting their Live Chat. This is not a 24 hour service and there is nothing to indicate what the working hours are. Also listed are a postal address in Indonesia and a couple of different phone numbers.

In my own opinion the design of MidasFinance isn’t great, as there’s quite a lot of errors, spelling mistakes, and the like. And that’s not to be understated as I do believe this is also an essential part of any successful promotion but looks a bit amateurish despite including a promotional video and certificates of incorporation in India. Texts however do appear original, though as is usually the case in the HYIP industry say little of any real value about what the business activities of MidasFinance are. Certainly nothing that’s proven with any facts anyway, though like I said that’s nothing new in this business. So that’s about it. You can pass if you don’t like it, and if you do then just remember to keep your spending limit to within a strictly enforced affordable level and always try and keep a varied and diverse portfolio.

DAILY NEWS FROM THE INDUSTRY

NEWGNI – PLANS REMAIN THE SAME, NEW FEATURES ON THE WAY

The first update for today is from the #1 program on MNO monitoring in terms of both popularity and their level of professionalism – NewGNi (reviewed here). For nearly five months online they’ve proven that sometimes comebacks can be as successful as their predecessors and I fully expect that NewGNi will be able to repeat or even exceed the amazing achievement of both working for 18 months and the overall impact the previous program managed by the same team – GoldNuggetInvest – had on the industry. So far it’s been an exceptionally pleasant experience for all involved, not to mention a profitable one for many of the early investors who got on board at the beginning. Plans include 1% per business day and 6% weekly on LibertyReserve, PerfectMoney and SolidTrustPay with no expiry date and the option to withdraw your principal after a lock-in period of 180 business days. Note that for the sake of stability and longevity of the program these plans will remain unchanged at all times and higher returns are, sensibly in my opinion, not going to be offered. This was one of the subjects mentioned in yesterday’s newsletter. Of course I guess all the credit for this ongoing success should go mostly to the brains of the operation Jurgen, the admin who was interviewed on MNO here and has official listing exclusively on my site and acquiring a banner spot which will be displayed till January 2013 (!). If this is not a serious approach to running a program I don’t know what is.

Usually Jurgen issues newsletters to NewGNi members on Fridays and did so again last night. Usually he tells us how things are going with this program and what issues it might encounter. After a rough couple of weeks when NewGNi had to change its domain it looks that things are totally back to normal now. They won’t leave it at that though as they constantly try to add new features and bring it to new heights as I guess we should expect from a quality program. Something exciting for NewGNi‘s members and promoters is coming next week and of course, I will tell you about it as soon as it happens. For now you can take your chance to win some free iTunes Gift Cards in the May Sweepstakes. But not only this month as the whole of 2012 was declared “The Year of the Giveaway” so I guess we’ll see lots more competitions where that one came from. The best prize of all of course is the profits you can earn from the program. The full newsletter from Jurgen can be read below:
“Newsletter 18 May 2012
Dear clients, friends and fans
As usual, I’d like to address you before we start the weekend.
We have received a few inquiries from old and new members during the last couple of days, asking if we are willing or planning to provide a higher daily or weekly rate, if one is prepared to invest a substantial amount of money.
To avoid further queries in this regard, I’d like to answer this question here as well:
During the planning phase of NewGNi we have put a considerable amount of thoughts into our plans, to make them attractive and competitive at the same time, but most importantly sustainable in the long run. The result of our considerations are our two plans – as they are. This means not only that our plans will stay as they are, but also that there will be no additional plans for ‘High Rollers’ now or in the future! Sorry guys.
Our aim is to provide you with a reliable and lasting second income opportunity and not a ‘get rich quick’ scheme that might collapse anytime soon.
Apart from our daily activities, we are currently busy with some additions to our online portal, to make your NewGNi more user friendly and attractive and for our affiliate partners: easier to sell. More on this, next week.
To conclude this newsletter, I’d like to remind you of our May 2012 Sweepstakes competition.
As our regular readers know, we have declared 2012 the Year of the Giveaway! Every months you have the chance to join a new contest and the best is, that our contests are open for EVERYONE. You can invite all your family, friends and colleagues and there is no need to be a member of NewGNi at all – just enter our monthly Giveaway competitions on our Facebook page – and win!
This month we are giving away three iTunes Gift Cards and the competition closes at noon (GMT) May 31st.
I hope that you all have a great weekend and thanks for reading.
Sincerely yours, Jurgen
Follow NewGNi on Twitter, Facebook and MNO”.

ENR-G – STP ISSUES AND SECOND MNO INTERVIEW ANNOUNCED

I was pleased to get a second interview with the admin of ENR-G Rory which was posted last night (click here to read it). You might remember that ENR-G went through a rough patch lately with sustained attacks, but unlike other programs who would collapse ENR-G only strengthened its position in the HYIP market and even got into my personal Top 5 best programs which you can read about here. This is what I admire most about this admins – the determination to resist all hackers and malicious attacks and stay afloat and even flourish despite all the obstacles. You can compare the current interview with the first one (click here to read that) which was published over a month ago, straight after ENR-G managed to return the first principals on its shortest investment plan paying 1.2% for 30 calendar days plan. Moreover, with near three months online I hope to see the first principals returned on the 2.2%-2.7% for 90 days plan soon too. So far, with very few exceptions all my withdrawals submitted to PerfectMoney, SolidTrustPay and Payza were paid instantly while for security reasons withdrawals to LibertyReserve get pain in no more than 24 hours. At the same time I got a couple of queries from readers whose deposits made via STP were not credited. The issue was covered by Rory in the latest newsletter from ENR-G (reviewed here) as well and he suggested that everyone with this problem simply contact them via email for it to be resolved asap. Knowing how well ENR-G‘s support has been so far I’m sure that you will get everything fixed within 24 hours:
“ENR-G Newsletter
I hope this email finds all of our members well and in good health. This will be just a very brief email to announce a few things pertaining to our company and the ENR-G website.
The first thing that I would like to mention is that for some reason we have been having a lot of missed deposits from STP. Meaning members will deposit with STP and it wont be immediately credited to their account as its supposed to. If this happens to you please send an email to enrg.com@gmail.com and Joshua will get this handled quickly for you. No one will miss out on any earnings as a result of this STP glitch so not to worry there.
Also I’m very happy to announce that we have conducted our second interview with Paul of MNO. At his prompting we agreed to do the second interview due to the fact that we have been through some issues regarding site uptime etc… and still always managed to fulfill our agreements and obligations to our clients (which we always will). Due to this there were some great questions asked which clarified our current position and where we intend to go in the future.
So, I would like to invite all of our members to please take a look at this interview and I hope you find it helpful to you in guiding your future membership with Diverse Traders LTD. and the ENR-G website.
http://money-news-online.com/blog/2012/05/18/18052012-interview-with-the-admin-of-enr-g-part-ii/
As always the entire Diverse Traders staff would like to thank you for your continued to support and to always offer our assistance should you need anything.
Sincerely. Diverse Traders LTD.”

SOLIDVENTURES – SOLIDTRUSTPAY ADDED

I’m glad to report that without much fanfare a third payment processor – STP – has been added to SolidVentures – a program paying 20% for 6 business days and reviewed on MNO a couple of days ago (click here to read it). I didn’t quite expect it to happen so fast and I’m glad it did. Definitely, opening up to SolidTrustPay users will be a great feature in attracting new investors who prefer them to the irreversible LibertyReserve or PerfectMoney which have been accepted from the beginning. I hope that AlertPay/Payza whose logo is still featured on the website will be accepted soon and bring even more investors into SolidVentures. They’ve been paying for 100+ days now. You might have also noticed that SolidVentures maintains a high level of advertising on both MNO blog and monitor having purchased many banners there due to the very positive promotional results achieved on my site. I truly hope they will become the long term paying program we’ve been waiting for, but in any case remember that investing there is quite risky, so only invest what you can afford to lose. Just like in any other program featured on MNO!

SOLIDTRUSTPAY – CLOSED ON MONDAY

Staying loosely on the topic of SolidTrustPay which remains the second most popular payment processor after the now rapidly declining LibertyReserve, I would like to report that their offices will be closed this coming Monday. So please plan accordingly and if you make a deposit or request a withdrawal for your money there please keep this in mind. Due to SolidTrustPay being a Canadian firm they observe all the bank holidays there such as May 21st which is Victoria Day. Customer support will resume on Tuesday. So I’ll also wish all my readers in Canada a happy extended week end and hopefully it will not prevent you from visiting my blog. Here is the latest update from STP:
“STPay Closed – May 21
SolidTrust Pay will be closed Monday, May 21st for the Victoria Day and Memorial Day long weekend.
Customer Service will resume Tuesday, May 22nd at 8:30am Eastern Time.
We wish all of our customers a safe and happy long weekend!”

BENSONUNION – CHANGE OF STRATEGY?

I don’t know what you think guys, but for me the latest activity from BensonUnion (reviewed here) looks kinda erratic and illogical. It almost seems like the person running the program at the beginning changed strategy completely and is now simply hunting for members’ money by issuing updates on an almost daily basis. Below for instance is the latest update offering a cash bonus for the program’s representatives and approved candidates of whoever wishes to take such a position. Surely there are some restrictions that apply to this offer which you can read about on BensonUnion‘s website, but still such frequent promotional offers create many questions among current members:
“Complimentary bonus to new representatives!
BensonUnion is happy to announce one more special offer for new representatives. Everyone who applies for representative will receive a complimentary bonus of $100 to BensonUnion account balance. It can be both withdrawn or re-invested on investor’s choice.”

Last night I received the first official newsletter from BensonUnion and I must say I was very surprised to see it at all as during four months of monitoring I never got any mass emails from them. There’s a first time for everything I suppose, but it’s quite alarming why BensonUnion started their advertising campaign only now, when we are facing a potentially very slow summer season. BensonUnion pays 1.2%-2.45% for 170 business days with principal returned on expiry, and an increase in advertising may signal potential cashflow issues. It may also be coincidence as the payouts to both LibertyReserve and PerfectMoney remain instant while for direct wires a 10% bonus was announced. The administration is now so desperate for new deposits they have even promised to add Payza (formerly AlertPay) next week. This sounds totally bizarre to me because just a few weeks ago the admin in my interview with him (click here to read it) said that it was never going to happen. Here is the excerpt from that interview proving that the advertising strategy of the program has totally changed:
“We accept only Liberty Reserve and Perfect Money. One of our employees did a detailed research of each e-currency and found out that SolidTrustPay and AlertPay can’t process withdrawal requests quickly, also AlertPay puts at least 15% of all incoming transactions value on hold. So how would we use deposits for trading? – No way to do it with these payment systems.”

It looks though that the new AlertPay/Payza is now totally acceptable for them as they just confirmed they were working on the integration on their website in the first official mass email newsletter from BensonUnion last night:
“BensonUnion official newsletter
Dear investors!
This is an official BensonUnion newsletter! Today BensonUnion enabled a 10% bonus for all bank wire deposits that are done from May 15th. For example, you deposited $10,000 through bank wire but in fact you will have the $11,000 deposit in your BensonUnion account that will give you a larger daily profit. At the end of investment period you will receive this 10% bonus with your deposit value as well.
BensonUnion has a few updates coming this and next week:
– Extended Referral Program
– Payza (ex. AlertPay) integration
– Advanced referral statistics
– Some special features for representatives
Stay tuned!”

FOREXPROGRESSIVE – MOVED BACK TO WAITING STATUS

It looks like the admin of ForexProgressive is also an enigma. As there was no update posted on the website itself many members were excited to see it back and even after the supposed lost of their database continue to make payments and credit the missing deposits to members who had to re-register. Although it’s not looking too good yet as it seems only a few members were credited (I was one of the lucky ones!) while others are still waiting. I don’t know how to describe this behavior and have no idea why the admin is delaying the process, but most probably it’s an intentional gesture in order to stall for a bit more in hope that some newbies will make more deposits into ForexProgressive even at this stage. Since the admin failed to reply to me and fix the issue of my referrals in ForexProgressive while I gave him plenty of time to do so I have decided to move the program to Waiting status on MNO for the time being. I want ForexProgressive to get back to normal as soon as possible and don’t want to destroy their chances of survival with bad press, however at this point the facts can’t be ignored and keeping ForexProgressive on Paying status would be not fair on those investors who are still waiting for their payments. At this moment there was no official update from them after their alleged database loss which could have been staged as well (nobody knows that for sure!). Anyway, with every passing day and no sign of revival from the admin I hate to say that ForexProgressive might not be able to recover. I will give them till Monday and if the situation doesn’t change I’ll put them to Problem status on MNO. Please note that at this time no further investments in ForexProgressive are recommended! You’ve been warned!

GET PAID REPORT FOR 19/05/2012

Here is the list of the programs from my monitor that paid me for the last 48 hours:
From MNO Sticky list: ROICredit, SolidVentures.
From MNO Premium list: NewGNi, Royalty7, OneInv, EurexTrade, SilverStructure, ENR-G, ProfitableSunrise, BensonUnion, GeniusVenture, DividendService, SolidForexLtd, FelminaAlliance, PlexCapital, PrimeXCash, Trade4Ten, MetalROI, ForexProgressive,  GoldenCrux, ProgressIncome.
From MNO Standard list: InternationalForexLLC, MidasFinance (the first payment received).
From MNO Basic list: UFOWin, RevShareHit, Trig (the first payment received).

That’s all I have for you tonight. I hope to see you all tomorrow when I have an interview with the admin of ROICredit (reviewed here) which recently acquired Sticky listing on MNO monitor for a month and pays 3%-4% for 60 days with principal returned on expiry. I hope it will help you decide if you wish to join the program or not, so tune in to find out more tomorrow and see you then!