Forex pyramid scheme

By: Fun Date: 05.07.2017
forex pyramid scheme

I came across an interesting company that claims to invest money on your behalf in forex trading and eventually pay you extremely high returns at the end of a fixed period.

The name of the company is Forex Paradise Ltd. It describes itself as an international company providing investment services worldwide. To invest in Forex Paradise you must go to their website, create an account, select an investment plan, and then transfer funds to your Forex Paradise account. Forex Paradise has 2 investment programs called Superior and Classic plans, respectively. With this plan, you cannot withdraw your funds until the maturity date is reached.

When I first came across Forex Paradise, I saw it as another HYIP scheme. However, what surprised me about this investment program is that it has been running for more than 2 years, yet I could not find negative reviews about it. The investment returns are too good to be true. Trading is an extremely high risk and high return investment. However, no legitimate investment company can promise or guarantee such high returns.

The only organisations I know that can provide these type of high returns are pyramid and Ponzi schemes. Therefore, there is only one thing to conclude from this red flag, that is Forex Paradise is a Ponzi scheme.

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The problem is that forex trading is an extremely high risk investment such that no sane insurance company would be willing to insure against individuals forex trading funds. Moreover, the names of the banks and insurance agencies in which the insurance fund is transferred are not named. In light of the lack of evidence for insurance, I have concluded that Forex Paradise is misleading investors about having insurance for deposited funds.

Forex Paradise Ltd claims to work in forex trading, PAMM investments, investment trusts and asset management amongst others. However, their trading and investment operations are kept in secret as no one knows exactly where these funds are invested, or which currencies are traded.

No proof of forex trading such as screenshots have been shown to investors. This is odd considering that the company has been around for more than 2 years.

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The absence of trading or investment information support the notion that Forex Paradise is a Ponzi Scheme.

The owner of Forex Paradise is hiding his real identity. The picture of Stefani Hendriks that appears on Forex pyramid scheme Paradise website as the owner is actually taken from another professional dressing article. Original Photo from Article.

forex pyramid scheme

So why would anyone hide their true identity if they are running a genuine investment company? Fake testimonial videos have been discovered on the Forex Paradise website. Paul Hardingharm, an internet marketer, exposes some of the fake testimonials in his Youtube Review of Forex Paradise.

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Paul Hardingham puts it nicely, if you cannot trust reviews euro selling rate today in india the website testimonials, can you trust anything else from the website?

This is not really a red flag, it is more of a tell-tale sign of an HYIP program that is about dow trading hours fold. Introduction of special bonuses is another trick used by well-established HYIP programs to lure more investors, or more money from existing investors before shutting down and disappearing.

Forex Paradise is a well known program advertised in HYPE monitors, and by even trusted websites, and it has been running for more than 2 years. Therefore, the introduction of a more favourable plan Superior A good alternative to Forex Paradise is eToro Social Trading. You can use eToro for investing in forex trading by automatically copying top traders. Read the eToro Social Trading reviewwhich explains step by step how to go about selecting the best and the safest traders binary options saransk profit from.

This is scam — if you want a good one — click here…. I plan to asp.net stock market my review slightly.

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I just found index rebalance trading strategy that the Forex Paradise domain name may have been registered more than 2 years back, but the website started getting serious traffic last year July.

So the Forex Paradise business is actually 1 year old, and not 2 years old as the FP administrator would have us believe. FP has been trusted by all members.

Only bystanders are cynical about this business. I know everything about HYIP but what if FP has mutual fund traders there. If Forex Paradise has traders in there, then they must show us the evidence, why be secretive about it?

But for your own sake and other people who have invested a lot money into Forex Paradise, I really hope you are right.

I hate seeing people lose money to scams, I have seen it happen too many times. To my knowledge, we all have same evidence in front of us about Forex Paradise but we choose to interpret differently because we have self-serving biases.

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So I think we should agree to disagree for now. Only time will tell who was wrong and who was right. This site and its content are proudly built and created by Conversion Focused WordPress Themes and Thrive Content Builder. Home What is a Pyramid Scheme What is a Ponzi Scheme How to Review Scams on the Internet Ponzi Scams Reviews Online Businesses Reviews Articles Recommended Resources Contact Form.

Forex Paradise Review — 8 Reasons Why It is a Ponzi Scam 5 comments. Forex Paradise Provides No Proof of Trading or Investing. Introduction of Special Bonuses and More Favourable Plan.

Haha Thanks for your review!!! July 4, Reply.

July 5, Reply. Frenzy FP has been trusted by all members. July 30, Reply. July 31, Reply. November 8, Reply. Investment Club Elite Scam Review. Profiting From Forex Without Any Trading Knowledge.

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