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Infinityshares turned into an “invite only” trading site ASAP without prior notice. Minimum join fee has been increased from 2 shares to 20 shares(Currently valued 100$, but it varies)
New members can only join when invited by current members and if the admins accept you, you will be required to buy a minimum of 20 shares.
Currently we are still allowed to discuss the program, but it’s possible that in the future this will change as well.
The goal of IS is to become a legal independant business. This can only be achieved by turning into a European forex trading club(The only version of a pool that is in fact legal by law)
New payprocessors will be added soon, so people will be able to fund their accounts again and withdraw through other ways than e-gold.
Be ready for more drastic changes which eventually will cause IS to completely vanish from the hyip world, a world full of ponzi’s that are doomed to fade into thin air.
Popularity: 5% [?]
I would like to know some more about turning into a European Forex Trading Club and how it’s legal by law.
Very much appreciated makila, good news
I would like to know some more about turning into a European Forex Trading Club and how it’s legal by law –>
Well the name already changed into “Infinityshares forex investment club” or short ISFIC
Details as how to turn into a 100% legatimate business, will be posted/updated/told to members when the admins feels its time for the members to know, not before. Details about how this is done, is only know by the admins at this point in time.
To respect the “now” private aspect of IS, this blog entry will be my last about IS on any forum/blog other than inside the IS forum itself. So if you wanna keep yourself updated on IS-FIC, you have to become an investor from now on.(unless Jude decides to post more updates, thats up to him to decide)
Thanks for the answer makila.
Yes, although I see that it’s very very difficult to register legally an investment program nowadays (the solutions are very expensive, or perhaps cheaper only in Uruguay) you are right: we must respect the “now” private aspect of IS.
makila: do you think that we should avoid posting this news in the Blogs?.
I was going to post it in my Blog just now but I think that it’s not good for them. They must maintain the privacy now.
Christian said it was okay to post it. But if its updated in one of the blogs(Judes), in my opinion thats more than enough
People that really want to join will still be able too. In all honesty, IS dont need members who just join for the fun of it or because their friend just joined. This is a serious business.(despite the little temporarily bumb down the road due to the broker switch)
We dont have many sites left to rely on, after the massive chain-crash of Lyip’s last year(who lied and decieved us) and due to the recent e-gold debacle, we have to protect the few investments we have left.
Well, I talked with one of them by PM before about all of this situation because we are doing the same, I told him that it’s very dangerous offering the program to the general public. It’s always better in semiprivate although I think that there is a possibility to register the program legally and offering to the public accepting funds from third parties. But it’s soon to post it
Disclaimer:
The use of this website is restricted only to our members and to individuals personally invited by them. Because of the private character of the IS Forex Investment Club, we are exempt from the US Securities Act of 1933, the US Securities Exchange Act of 1934, the US Investment Company Act of 1940, and all other rules, regulations and amendments thereof. We are not FDIC insured. We are not a licensed bank or a security firm. We are not a licensed broker.
I think that they are wrong, perhaps I should contact them… and they should do something like www.feederfund.com in its website and obtain a financial license (although they can offer these services in other jurisdictions without a financial license).
Its wrong yes, if you call us a program, we call ourself a club, then it is correct.
Although Stijn, Christian and I are always open to discuss is, you might have more information that proves us wrong :). So feel free to contact us!
Btw, we will send out a mass mail later today.
Steven: I sent a PM to Stijn in Jude’s Forum, I hope it helps
I’m interested to see when this “program” will crash and burn.
Dont hold your breath
Read here as why calling yourself a club will not protect you from the US government: http://www.sec.gov/investor/pubs/invclub.htm
Basically if you take a profit as an administrator the SEC no longer considers you a club but an unregistered investment.
Who calls us administrators? Who says we take a profit? Go on and prove it jorhyne, seriously, we are slowly covering everything..
jorhyne is almost right in his post but I think that I must avoid some dangerous comments here because I like the reliable programs like this one
Only this: Administrator in this case will be the person who manages the private forum or club.
One thing which is a major concern. If you register in the BVI for example, you will be accepted as a fully registered company in almost every country in the world. BUT not in the US. They require you to register with them as well and not just with the SEC. But you have to register in ANY state you offer your services too! If every government would act the way the US acts, isnt it so, that you have to register in every single country of the whole world before you can do business with all of them? Wouldnt you have to spend 50 million$$$ just to travel around the world to register everywhere just so you be 100% legal??? You think that’s reasonable???
makila: the solution is registering a company authorized to offer financial services to everyone, I mean accepting funds from third parties legally in that jurisdiction. And if it’s possible not accepting USA members.
Oh, that’s definitely one of the options right now (not allowing US members), since most of IS members are alreay from Asia/Europe. As said before, everything is seriously being taken into consideration.
makira, please elaborate/enlighten this part for me:
“Be ready for more drastic changes which eventually will cause IS to completely vanish from the hyip world, a world full of ponzi’s that are doomed to fade into thin air.”
Probably my weird English reading but somewhat sounds negative ?
Or did you mean because IS intend to vanish from the “hyip world” and move to a legally yielding area ?
Nope you are right. It does sound negative. I am very sceptical about the hyip world. Every program somehow disappears. It just dies after a while or it disappears by going private/changing name/disallowing advertising. There have never been any hyip or lyip that lasted for an eternity in the public hyip world. I only know if one public hyip program that refunded everyone 100% after they closed. only 1!
I even want to go further than that. Any program that CAN’T go from public mode to private mode is a scam or a ponzi. If a program cannot sustain itself without getting many new investors, its a ponzi by definition.
However be aware that going private is not a guarantee the admin is honest and won’t run away or that the program is not a scam or ponzi. A lot of ponzi’s have gone private in the past, just to vanish over night with the money all of a sudden. Going private can also be a sneaky way to ’scam’
Is this the case with IS? Is it a scam? Well..
First of all IS already lasts 13 months while the average Lyips dies within 9 months.
Jude has also performed a decent DD on the owners and the returns on this site are low enough to be truly realistic.(4-6% a month during trading period, 0% during non trading periods). IS also allowed Jude to remotedly access the trading account. Of which sites can you still say these days they let someone truly log in the account during a live trading session???
Of course its up to yourself to decide whether IS is the real thing or not. I am not a judge and won’t lure you into something you dont believe in yourself.
We all still remember the disaster of Club FX. However maybe you noticed, that Jude was never allowed to perform any DD on it, it was simply refused by Peter. Maybe those were the red flags on it we were looking for. Also 20% profits a month were simply too high. Unrealistic.
I agree with you, in fact I can agree every word of your comments above - I’m a sceptical kind, too; it’s just that I thought “makila” (sorry misspelling above) making a negative comment on IS was unusual…?
It took some time before I was comfortable enough to join IS, but good to know that they continued to be transparent regarding trading activity.
I tend to think, on a hyip (or lyip) even with a good DD: “Unless you *live with them* until they give you a supposed return or make you break-even, your chance of losing money is still wide open.”
Same on IS - they *could* just quit one day. (Please don’t ;-))
One thing I see not necessarily negative, is that they didn’t announce going private (as far as I know) prior to they did which elliminated a good chance of cashing-in before a “run”.
Their current spirits and activities are impressive to me considering their young age! Hope they will keep up that…
I’ll wait for update in the forum
Nice to see familiar faces hanging around here to discuss on IS. I’d think Steven and tianx definitely have made their studies before renaming IS and weigh all the consequences when it comes to running a private club.
Would like to bring the point of the acronym HYIP. A year or two ago when we’re talking about HYIs, we’re talking about returns of almost 2% or more a day (which we know most of them are running ponzis and is simply unrealistic).
My definition of HYIs now are totally different, thus remains why this blog is still running. It’s hard to find genuine opportunities online now, but returns of 2% - 3% per week with trading can still be achieved. IS is one such cases before the broker change.
Hopefully, should the trading methodology change for IS, (technical fundamental trading, previously only fundamental) bodes good future returns.
I wish IS a happy one year anniversary and many more years to come.