{"id":1767,"date":"2009-08-13T01:14:10","date_gmt":"2009-08-13T01:14:10","guid":{"rendered":"http:\/\/money-news-online.com\/blog\/?p=1767"},"modified":"2010-06-02T13:53:54","modified_gmt":"2010-06-02T13:53:54","slug":"12082009-incoforex-review-and-other-news","status":"publish","type":"post","link":"https:\/\/money-news-online.com\/blog\/2009\/08\/13\/12082009-incoforex-review-and-other-news\/","title":{"rendered":"12\/08\/2009. IncoForex Review and Other News"},"content":{"rendered":"

BEWARE! THIS PROGRAM HAS STOPPED PAYING! PLEASE DO NOT INVEST!<\/span><\/strong><\/p>\n

Hi guys! Well after three wonderful days in the lovely Swedish city of Malmo it’s time to move on and so less that thirty minutes after getting on a train I was whisked under a tunnel in the Baltic Sea and emerged in the Danish capital of Copenhagen. And from here I’ll be exploring Denmark for about the next week or so but the usual service will (I hope) continue uninterrupted as usual from MNO.<\/p>\n

And just to prove that I’ll get right on with the review that I promised you yesterday. It’s called IncoForex<\/a> and despite being a little overly complicated, I think it has what it takes to become the next big thing. At least as far as long term programs go anyway. Maybe it’s not exactly fair to say it’s too complicated, but there is quite a lot of reading to be done on this one so I’ll try as best I can to guide you through it. But of if there is any aspect to IncoForex<\/a> that is not perfectly clear to you then as always you are free to contact me anytime for further clarification.
\n\"\"<\/a>
\nSo what better way to begin than by jumping straight into the plans I suppose, and they’re really quite appealing. The thing that makes them so difficult to explain is that the rates of interest on offer to account holders is variable and can fluctuate to such a degree that it can be difficult to pinpoint your exact earnings on any given week. That’s not such a bad thing though and in fact it’s a policy that has served several high profile HYIPs very well in recent times. By allowing the ROI to fluctuate from week to week the admin of IncoForex<\/a> protects the program from having to meet payments that other HYIPs might struggle to meet under certain situations. So the payments will be a more fair reflection of the day to day fortunes of the business and in the long run will only help sustain the program for a longer period.<\/p>\n

Out of the seven plans available, unfortunately I have to report that in my own opinion five of them are so far out of the financial reach of the overwhelming majority of regular HYIP players as to render them pointless. But not to worry. There is more than enough in the other plans to keep the rest of us happy. IncoForex<\/a>‘s own explanations are a little tricky but I will try to give you the abridged version.<\/p>\n

So first of all, all investment plans run for 180 business days<\/strong>. Interest payments are also only made on business days, meaning Monday through Friday. The minimum amount you may invest with IncoForex<\/a> is $10, and amounts between that and $3,500 make up what they call the “Basic Plan”. Now, I guess you want to know how much you will earn for a deposit here. Well this is the tricky part. IncoForex<\/a> claims to be involved in the area of foreign currency trading and speculation. The profits generated by how they re-invest your money are variable, but they are divided up between three different recipients. You, them, and their insurance fund. Your slice of the profits on any given day will be 42%. 42% of what exactly remains to be seen. IncoForex<\/a>‘s share will be 43% and the insurance fund’s will be 15%.<\/p>\n

Let’s put it another way. Let’s pretend that your investment has helped IncoForex<\/a> generate a profit today of $10. Out of that $10, you will get $4.20, they will get $4.30, and $1.50 goes to insurance. Tomorrow’s profit might be more, or it might be less. Whatever it is your share of it will still be 42%. So where does this insurance fund fit into the equation? Well as we all know you may not earn a profit everyday so in the event of the company trading at a loss the insurance fund supposedly underwrites that and makes sure you still get a payment of some form.<\/p>\n

And that’s basically the modus operandi of the plans. They all work in exactly the same way, but the investor’s own slice of these shared, for want of a better word, “communal” profits goes up according to the size of your investment. The actual profit itself does not increase, just your share of it. See the difference? For example in the next plan you may invest anything from $3,501 to $7,500. Out of the total profit generated from the re-investment of that money your share will be 47%, IncoForex<\/a>‘s will be 38%, and the insurance company continues to receive 15%. So for example if your investment here was to generate a profit of $10 today, you can expect to see $4.70.<\/p>\n

And it progresses up the scale like that until you are investing upwards of $100,000. But I’d rather not start talking about numbers like that here.<\/p>\n

I’m afraid I cant really offer you anything in the way of practical examples of how much a deposit of any particular size might bring you because as the daily ROI can fluctuate so much, by what could be called a huge margin in terms of long term HYIPs in fact, it’s simply an impossible call to make. Typical returns recently have been below the 1% mark so you can see the major drawback to IncoForex<\/a> is that it can take an inordinate amount of time before you earn your principal back. (N.B! Remember that you only get less than half, 42%, of the daily profit listed on their “trading reports” page)<\/p>\n

A couple of other quick points I’d like to make about the plans include the fact that compounding is allowed. I’m no great fan of it myself, but if that’s what you like then it’s there for you. As well as that once you join your principal is locked in for the duration of the plan and can only be retrieved upon payment of a hefty 35% fee. However should you stay with the plan and see it out to its conclusion then your principal will be returned. Accepted payment methods currently include LibertyReserve<\/a>, PerfectMoney<\/a>, EcuMoney<\/a>, and bank wires. A tad disappointing for a program with such great potential. Potential that will remain unfulfilled until that list gets expanded. Having said that though, it must also be noted that all withdrawals have been almost instant up until now.<\/p>\n

The security looks quite solid here. In fact in what must be an unprecedented move by an online HYIP they even have an advice page for the benefit of the members offering free and handy tips on online security in general. Some of it is of course just practical sense but there is a lot of good info there too so that’s well worth a look. They’re running off an original customized script which can give it an edge and as well as that they have an SSL encryption certificate for extra security. They are hosted on a dedicated Staminus server which is the best around and for what it’s worth they registered until the year 2014.<\/p>\n

There are a variety of ways to get in touch should you be in need of customer support, but the extensive FAQ page should probably keep the number of casual questions to a minimum. There is of course the usual online e-mail ticketing system and a regular e-mail address if you prefer. They also offer a telephone and fax number and much to my surprise when I called it I actually got an answer! It’s been a long time since that happened let me tell you! Unfortunately all I received was a recorded message, although the voice did identify the number as that of IncoForex<\/a> and informed me that there was nobody available to take my call and then advised me to submit a support ticket through their website. Not perfect but significantly better than the usual response I get from HYIP telephone numbers. The area code originates from Tennessee in the US, but I know numbers can easily be re-directed so pay no attention to that. Anybody else who’d like to call them please get in touch and let me know the results.<\/p>\n

Despite the phone number they are claiming to be registered in Dominica and even go so far as to offer some certificates of incorporation to prove it. Sorry to be cynical but I’ve seen that done before. A certificate, yes even a genuine one, still guarantees you nothing anyway so never let you guard down.<\/p>\n

But despite there being a number of drawbacks to IncoForex<\/a> (unnecessarily complicated, limited payment processors) I like it anyway. It’s secure for one thing and it’s original. Quite a bit of work went into it, that much is obvious. And where others see a very low ROI, the optimist in me prefers to see a sustainable one. I do think a few minor changes are necessary to get IncoForex<\/a> to live up to its full potential, but if the admin makes them then this could well grow into a very popular pick for those who like long term low ROI programs.<\/p>\n

Other news for today.<\/strong><\/p>\n

Let’s start today’s news section with the exciting newsletter from 12DailyClicks<\/a> (reviewed here<\/a>). As you might know the program has already become quite popular among surfers wishing to profit from its classic 12% for 12 days plan (144%) with the payouts on expiry. Since it’s obvious that the autosurf industry is on a low ebb among online investors scared off by some recent high profile closures of what seemed otherwise good programs it’s understandable that the admin of 12DailyClicks<\/a> Jeff (interviewed here<\/a>) is seeking ways to attract more new investors to keep the cash flowing. There is nothing wrong with that of course and I just wish the new non-surf plan was implemented earlier. Anyway, the admin announced that this new plan will be limited in time so you should take advantage of it while you can especially considering that it’s less risky and almost as profitable as the surfing plan. For the minimum investment of $50 allowed in the newly added Non-surf plan you will be paid 140% after 10 days. The most definite advantage of this plan is that you don’t need to surf to earn your daily rebates. So far I’m quite impressed with 12DailyClicks<\/a> performance in this slow period for autosurfs (about 800 members after 26 days in operation) and I believe this new plan will be a catalyst for the program’s future growth. Of course, you shouldn’t forget that such programs like 12DailyClicks<\/a> are quite risky so please invest in the new plan sensibly. Here is the update:
\n“Hi everybody, Jeffrey and Mike here. We would like to announce our limited-time-offer “140% After 10 Days”. Depositing funds into this plan doesn’t require you surfing at all. Your 12DC account will be credited with 14% daily and once it reaches 140% (after 10 days) it will go to auto-pending.
\nMinimum purchase for this package is $50 and max is $1,000 per deposit. You are still able to have 6 active deposits\/upgrades running at the time. How much you can earn from this plan? Let’s say you deposit $100. After 10 days it’s $140 which includes your $100 principal and $40 net profit.
\nThat’s true, now you can enjoy the benefits and features of hyips in 12DailyClicks<\/a>. That’s for you that don’t have time for surfing. Don’t miss out this offer!<\/em>”<\/p>\n

Many investors are still concerned about the situation with SolidTrustPay<\/a> payment processor which has been offline for over 36 hours already. The worst thing is that the administration doesn’t give even an approximate time frame as to when the issue might be resolved nor do they speak about the nature of this issue. Somebody suggested it was a heavy DdoS attack but we can’t state this for sure until we get some official update from STP administration. As for now the GMT day is nearly over and the STP website is still offline despite all the promises given in the most recent update that they were expecting to get back online today:
\n“We are aware of the connection issues that many are having and are working to have these resolved as soon as possible. Our hosts are working with us to restore access.
\nOur latest information is that site access will be restored today. We appreciate your patience.<\/em>”
\nIn my opinion the updates from such a popular payment processor like SolidTrustPay<\/a> should be more extensive and up to the point unless they want to lose their clients that will surely find more reliable payment processor without any downtime troubles. The good support means everything in online investment world and the payment processors are not an exception from that rule. Anyway, hopefully SolidTrustPay<\/a> will be back online soon as many investors as well as the programs themselves are really suffering from the inability of moving the funds between the accounts or do other things with their money.<\/p>\n

It seems that BestInv<\/a> program (reviewed here<\/a>) was also unavailable for some time today due to some DdoS attack on their server. The admin even thought of moving the site to a different hosting provider to ensure its stable work but fortunately the attack was mitigated quite fast and now the site is back up and running. In her recent update to the membership the admin of BestInv<\/a> program Olivia (read my interview with her here<\/a>) emphasized that the program was doing extremely well and advised not to panic next time if the site is not available for some reason. That’s true. In my opinion while the admin of a program is on public forums and supporting all the members there is nothing to worry about. BestInv<\/a> proved itself already with its lifespan of over 30 days online and a record Alexa rating that reached a whopping 6646 yesterday and 6889 members that trusted Olivia with their funds. The extremely profitable investment plans of 120% after 5 days, 145% after 10 days and 175% after 15 days and almost all the payment processors accepted are two major selling points that made this happen and ensured the enormous success of the program now. And as we can see now even DDoS-attacks cannot fell this program which seems to be as solid as a rock. Only one real drawback at the moment which is the inaccessibility of STP. That can become a destabilizing factor in the near future (for any program) but that’s something definitely out of the admin’s hands now. Anyway, here the latest update from them:
\n“Dear Members, I completely and absolutely understand your worry and concern regarding the accessibility of our site BestInv<\/a> today.
\nTo be very frank, we underwent a series of DdoS attack today. Our counter measures were strong enough to keep all that nuisance at bay. Friends you must understand that in the world of Internet you can never be 100% risk free from threats as they are always lurking out there.
\nStrongest and mightiest of sites fall prey to such attacks, hence our site is vulnerable as well.
\nBut stay rest assured about your funds, we keep them safe in the safest of lockers available.
\nAs mentioned in my previous mail, I repeat that you must not panic and scream once you notice a problem with our site. DDoS attacks sometimes take a longer duration to resolve. So during such times, I insist you to relax and sit back and wait for a while till our site is back up and running.
\nI am not a robot and I get tensed too when such threats hit our program, so kindly do not flood support tickets my way, trust me, I am the one most worried when things go awry.
\nBestInv is the best investment program around, our alexa ranking is whopping awesome. More than 250000 hits a day. Thats like….. holy cow.
\nSolidTrustPay<\/a> is still down, probably will take longer time to recuperate than i had expected. Therefore all STP related requests are on hold.
\nWell that’s it for now……..please do not panic……have faith in us……just help us help you the best way we can.
\nWarm Regards, Olivia, BestInv<\/a>.<\/em>”<\/p>\n

It seems that the major competitor to BestInv<\/a> will very soon be the program with the copycat name \u2013 PlusInv<\/a> (reviewed here<\/a>). The admin of the program Jenny has sent the first mass email to the members of the program today encouraging them to join the public MMG forum thread for an open discussion on how to make the program better. It seems that she is also quite active on the MMG forum and you can ask her any questions you have. I have already done just that and hopefully will publish an interview with her on my blog soon. I remind you that PlusInv<\/a> program accepts all five major payment processors and have the following investment plans: 112% after 3 days, 130% after 7 days, 310% after 30 days. Here is the update from PlusInv<\/a> program:
\n“How are you today? You enjoy the fast payments? Great! I love to see happy members.
\nHowever I have a request for you: please vote our program in monitors or post your payments on forums. Share your joy with all the community!
\nAlso I’d be very happy if you could join our discussion forum here<\/a> if you didn’t already do this.
\nAnd always remember this simple thing: we are here to stay!
\nThanks a lot, Jenny. PlusInv<\/a><\/em>“.<\/p>\n

The admin of GoldNuggetInvest<\/a> which is currently #1 program on my monitoring page<\/a> also informed everybody about the reasons behind the delay in payouts to those using STP payment processor in GoldNuggetInvest<\/a> (reviewed here<\/a>). He mentioned that hopefully all the pending payouts to STP would be processed by tomorrow morning but of course it will be totally up to when the SolidTrustPay<\/a> site is back online. Here is the most recent update from the admin Robert Spearman (read my detailed interview with him here<\/a> to find out more about the program):
\n“We have difficulties to access our SolidTrustPay<\/a> account since yesterday morning and are therefore unable to process SolidTrustPay<\/a> withdrawal requests.
\nSolidTrustPay<\/a> is aware of this problem and you can read updates on their official blog.
\nWe hope that by tomorrow morning we are able to process all pending SolidTrustPay<\/a> withdrawal requests.<\/em>”<\/p>\n

The admin of DirectResult<\/a> Lesley announced that the results of the first bonus week when the investors were able to get a bonus just for depositing over $10 were very encouraging and that he had decided to extend the promotion for yet another week. So please read another update from DirectResult<\/a> if you’re interested in investing (please read my review of DirectResult<\/a> here<\/a> for more information on the program):
\n“The offer made last week was so successful that we have decided to offer it to you again this week.
\nThis special offer starts now and it will enable you earn even more profit.
\nPlease take careful note of this offer.
\nMake an investment of any amount above $10 and your investment will be increased with 10%. Invest $10 and your investment will show $11. Invest $500 and your investment will show $550. Invest $1000 and you will have $1100 as your new investment amount.
\nYou can invest any amount, provided it is higher than $10 to qualify for this offer. And you can invest multiple times.
\nPlease note that investment of $10 and above made using AlertPay<\/a> will only receive 1%.
\nInvestment of $10 and above made using LibertyReserve<\/a> will receive 10%.
\nInvestment of $10 and above made using PerfectMoney<\/a> will receive 10%.
\nInvestment of $10 and above made using StrictPay<\/a> will receive 10%.
\nThis offer is between now (when you receive this newsletter) and Sunday the 16th August 2009.
\nWhen your investment is made please note that the increment is made to your account manually so please allow up to an hour or so for the increment to be added to your account. Everyone is welcome to participate.
\nBest regards. Lesley Sullivan<\/em>.”<\/p>\n

YesICanSurf<\/a> program (reviewed here<\/a>) is celebrating their relatively huge success in attracting 1,000 members to their program paying just 1.7% for 120 days of surfing (daily payouts allowed). There were new promotional offers announced and you can read about it in the most recent update from the admin of the program Sarah (interviewed here<\/a>):
\n“Hello, hello to everyone and a big welcome to all new members !
\nWell, we haven’t forgotten our Celebration surf party, and we are going to kick it off today with a very special offer.
\nWho wants 10,000 free credits?
\nDo you need more credits to advertise your other programs ? Well, here’s the deal : All Free (Little Engine) or Upgraded (Obama) members who purchase 5 adpacks ($10) or more in the next 24 hours will receive 10,000 free credits added manually to your accounts!!!
\nThis is a once in a surftime opportunity! Can you imagine how how many members could join your programs with these free credits ??
\nThis offer is available till Saturday only, so be sure to act now!
\nTo purchase your adpacks, simply login and click on the Upgrade button. I will add your free credits to your account as soon as possible.
\nMore surf party specials to come !!
\nAll payout requests have been fulfilled for today with the exception of STP which is still down.
\nHave a wonderful day, Sarah and Phil<\/em>“.<\/p>\n

Please be aware that two programs are now in Not Paying status on my monitoring page<\/a>. They are SteadyGrowthInvest<\/strong> and RoxiTrade<\/strong>. As for SteadyGrowthInvest<\/strong> it was clear to me a couple of days ago that they decided to pay only to monitoring sites after the hasty introduction of a new 200% after 30 days plan which possibly was their last attempt to get the investors’ money from those who continued to trust them after an admittedly flawless history of three stable months of regular payments. What can I say about RoxiTrade<\/strong> which stopped paying a couple of days ago? Well, their lies about their physical address in Germany that were exposed by one of my readers and their demo trading account which they tried to pass for a real one left their reputation badly tainted. It’s no wonder to me that they didn’t last very long. I’m sure the investors should take a closer look at the hosting provider of RoxiTrade<\/strong> called GeniusGuard. All the programs that are on their hosting are scammers and folded one after another. In fact, the company itself was created from the money stolen from the investors of their first venture CapitalCorpex<\/strong>. I for one will not be monitoring the programs that are hosted on this provider anymore and I’m sure my readers will appreciate this decision of mine.<\/p>\n

I would like to introduce two new programs I joined for the last two days and the reviews of which will be published on my blog soon. The first program is an autosurf called AdsDailyPro<\/a>. You might ask me what is so special about this one since autosurfs are not going so well at this time? Well, it’s the personality of the admin that grabbed my attention the most as I believe this is the most important factor that can make or break any online investment project. AdsDailyPro<\/a> program started over 3 weeks ago and came under heavy DDoS attack and then by extortionists to whom the admin of the program Diane refused to pay a penny. Showing real dedication to her program Diane upgraded the hosting to a powerful DdoS-server (which cost her a lot I believe) powered by BlackLotus (who also host GNI). So to say the admin ensured that the membership became more loyal to her program and currently she’s enjoying a nice level of support. There are two membership allowed in AdsDailyPro<\/a>: Trial ($6 minimum will earn you 121% after 11 days or 11% daily) and Pro ($600 minimum to upgrade will allow you to earn 132% after 11 days or 12% daily). The payouts are made on expiry and there are all the five top payment processors accepted: AlertPay<\/a>, LibertReserve, StrictPay<\/a>, PerfectMoney<\/a> and SolidTrustPay<\/a>. I can tell you that AdsDailyPro<\/a> uses an old kind of script that I saw in many older autosurfing programs but for the life of me I just can’t remember the name right now. Hopefully the admin will help refresh my memory before the review is published on my blog. And the most important thing \u2013 don’t forget to surf 15 sites daily to earn your 11% or 12% in AdsDailyPro<\/a>!<\/p>\n

The second program I joined today is an HYIP called WLInvestments<\/a> of which I have kinda conflicting feelings. On one hand their site is hosted and protected by BlockDos and the domain is registered for 10 (!) years. The investment plans are also quite reasonable and sustainable in the long run and it offers 1.3% for 50 business days, 1.6% for 100 business days and 1.9% for 200 business days with the principal being returned at the end of your investment period. On the other hand the program’s layout looks quite amateurish to me with only LibertyReserve<\/a> accepted as a payment processor and no script involved (there is no referral program either). It’s in stark contrast with their three (!) certificates of incorporation allegedly issued in the Bahamas, Ghana and (of all places) Somalia where their main office in supposedly situated and with many supporting personnel listed on their website as being in charge of different things in their program. There are many addresses published on their Contact page in different countries but no phone numbers at all \u2013 only emails which is kinda strange for a registered entity. The site of WLInvestments<\/a> is quite interesting in itself and when the program is reviewed on my blog I will put out my thoughts about it as well.<\/p>\n

That’s it for today, guys. I would like to give you the list of programs that paid me for the last 48 hours. Here they are: GoldNuggetInvest<\/a>, 12DailyClicks<\/a>, PlusInv<\/a>, FoxFund<\/a>, AssetsParty<\/a>, InvestiMates<\/a>, SolidCapital<\/a>, BestInv<\/a>, FlipReturn<\/a>, YesICanSurf<\/a>, GeniusFunds<\/a>, CoolReturn<\/a>, CashXpress<\/a>, NanoMoneyCorp<\/a>, DirectResult<\/a>, StableInterest<\/a>, ExcellentProfit<\/a>, IncoForex<\/a> and InvestmentForge<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

BEWARE! THIS PROGRAM HAS STOPPED PAYING! PLEASE DO NOT INVEST! Hi guys! Well after three wonderful days in the lovely Swedish city of Malmo it’s time to move on and so less that thirty minutes after getting on a train I was whisked under a tunnel in the Baltic Sea and emerged in the Danish […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4,6],"tags":[],"_links":{"self":[{"href":"https:\/\/money-news-online.com\/blog\/wp-json\/wp\/v2\/posts\/1767"}],"collection":[{"href":"https:\/\/money-news-online.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/money-news-online.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/money-news-online.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/money-news-online.com\/blog\/wp-json\/wp\/v2\/comments?post=1767"}],"version-history":[{"count":0,"href":"https:\/\/money-news-online.com\/blog\/wp-json\/wp\/v2\/posts\/1767\/revisions"}],"wp:attachment":[{"href":"https:\/\/money-news-online.com\/blog\/wp-json\/wp\/v2\/media?parent=1767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/money-news-online.com\/blog\/wp-json\/wp\/v2\/categories?post=1767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/money-news-online.com\/blog\/wp-json\/wp\/v2\/tags?post=1767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}