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Aug 4th 2006
Didn’t mean to burst the bubble, but here’s a DD done by HansG and I think we should take a look at this before doing any spends.
Private Forex Trade (e-gold-forex.biz): something’s smelly here…
I’ve contacted “egoldforexbiz” and the response seemingly wasn’t good as well.
Jude
I didn’t subscribe to this program yet but I think that worth the cost to have a look. It’s a FOREX Company.
I like their site, very professional design.
Their link: https://www.e-gold-forex.biz
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Domain registered and expires: 01 October 2005 to 01 October 2008
Domain registered and expires: 01 October 2005 to 01 October 2008
Address: Private Forex Trade Inc. 245 Park Avenue, New-York 10167, N.Y., USA
Telephone: +001-718-427-4093
Registered with the SEC of the Philippines on the 4th of April 2005
Company Registration No: CN200504219
You can also see the Certification of Incorporation posted at their site
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The minimum deposit is $100 and they only accept e-gold. The average percentage commission is at least 10% per month. I know the rate is NOT extravagent but it’s a REAL business, NOT a Ponzi. And 10% is just an average cause usually earnings are much higher, the earnings depend on real trading and market conditions which are variable but even on a bad market day, the earnings will never go negative. Rather, you just get very low commissions or even 0% but this doesn’t happen often. The Principal is returned after 12 months. You have also the option of Compounding. There are no restrictions amount to withdraw (no minimum/no maximum) and the company does not charge any fees.
Private Forex Trade have a staff composed of 17 traders who are located at strategic locations worldwide so they have a permanent activity in all time zones.
They are trading the eight most profitable Currency Pairs. Also, you can view trading performance figures and graphs at the site and investor accounts are updated daily, which you can see in your personal account. This program offers the flexibility of being able to choose which currency pairs you would like to trade, or you can trade them all if it’s your choice.
There are no restrictions, delays or minimums applied to withdrawal of deposits and earnings and PFT does not charge any fees. You can choose to have your daily earnings automatically sent to your e-gold account each day or accumulate them in your account and after one year, all deposit amounts and earnings not withdrawn are automatically paid into your e-gold account.
The members are very happy with them cause they are paying consistently…
… So far, so good!
Popularity: 5% [?]
This is the type of program that interest me. I don’t believe a legitimate program can make over 20% per month and too offer a fixed rate of income sends up a red flag for me.
Thanks for bringing this to the Blog. I will check this out . Joe
Hey Luc! This is something nice. I’ve just tried emailing them for a DD request and see if they’re willing to offer one.
I’ll do some more checks on this one.
I agree with Jude. Well done . I checked the site out and liked what I read in their forum. What I like about this forum is that the Bullshit gets filtered out and it speaks the truth. Joe
Thnx Joe & Jude!
Yes, we are all tired of programs with unrealistic rates that are dying quickly.. at least this prog. has a reasonable rate and when we look at their site we see they are very professional.
It is for serious investors who are looking in the long-term.
So thnx again for your comments!
I think this is a good point. I ask myself , why am I in this and for me this is a way of making a living . I am in this for the long haul and this program seems to fit the criteria. Due Dilligence will be interesting .
I would like to see more programs like this . Joe
I don’t know if they still claim that they are registered somewhere, but significant investigation into their claim was made and they are not registered anywhere. See here for more info: http://www.paranoidinvesting.com/articles/private-forex-trade-egoldforexbiz-somethings-smelly-here.html
I threw out definitely this one of my “waiting list” 6 weeks ago, IMHO dont even worth a test spend.
It amazes me that people would consider giving their hard earned money to other people, they do not even know, to trade the currency markets. Do you not realize that if any of these traders had a method of trading that worked they would not need your money. Do you really believe that these traders are setting back thinking… Wow we have found a way to trade the currencies to make us rich. Why not and go out and share the wealth with a bunch of other people on the internet who we do not know and make them rich too.
They are soliciting your money because they do not wish to risk their own money to trade! They know it is safer to make money off of commissions from trading than trading itself. That is the truth!
I am a retired commodity borker/trader. Ninety-nine percent of those “speculators” who trade the markets lose. Brokers however will tell you that only 90 percent lose hoping you are stupid enough to believe that you, or they, are smart enough to beat the odds. Not!
su nombre no es muy profesional, utilizan palabras claves en vez de hacerlo con el nombre de la compañía, lo de utilizar palabras claves es normal en los hyip. .
Una de las cosas que mas me hacen pensar en su poca honradez la encuentro en su FAQ, en la cual nos aseguran que en ningún momento entraremos en perdida ¿cree realmente que este tipo de inversiones pueden asegurar el 100% de la misma? Yo sinceramente creo que no, es otra artimaña que utilizan los hyip para embaucar a los inversionistas. .
Si buscamos en WHOIS.net nos dicen que su nombre de dominio es myhyip.ws me parece raro que un grupo de inversión legal asocie su nombre al de hyip sinónimo de engaño y estructura piramidal. .
Dicen que este programa esta inscrito en Filipinas por lo tanto esto significa que la comisión de seguridad de filipinas tiene que tener su expediente. (Aun que estén inscritos en las SEC esto no significa su autorización para trabajar en instrumentos de la inversión) .
Este expediente lo podemos buscar en su pagina oficial.
http://iregister.sec.gov.ph/MainServlet
y si hacen ustedes la búsqueda se darán cuenta de que es total mente negativa.
La conclusión piénselas ustedes mismos
MAS INFORMACION EN
http://deivisfars.blogspot.com/
Why have 17 traders…. surely this would have been a mess if it was for real… Stay away.
I’ve just contacted them and they gave back a response I wasn’t expecting. I’ll follow up and respond accordingly if they do get back.
The first response wasnt really that great.
Thanks for the link Jorhyne.
I read Hans post in its entirety I am happy to have watchdogs like this. Very good article and it does show that the homework should be done before investing.A big thanks to Jorhyne. Joe
Thnx for your comments and also Jude & jorhyne for the link provided. I’ve read the DD published by Hans and yes I admit there’s something fishy.
Anyway, those who decide to join at their own risks, I recommend them NOT to compound, just keep your earnings in your e-gold till you are at least in profit cause you don’t know how long this one will last.