Forex Paradise Review – Is It a Scam Or Legit? Read Before You Invest
What is Forex Paradise? Is Forex Paradise a scam? Is Forex Paradise legitimate? It is a highly stable High Yield Investment Program (HYIP) that deliver exceptional payout and return to its investors? Read this Forex Paradise Review and find out if it is worth investing your money with them.
Forex Paradise Review
Name: Forex Paradise
Website address: ForexParadise.biz
Price: AdvCash – $25 or €25, OKPAY – $100 or €100.
Overall Rank: 0 out of 100
CEO: Stefan Hendriks
Status: The program is dying. Don’t invest. (Share this post to alert the other innocent people)
What is Forex Paradise?
Forex Paradise LTD claims it is a Hong Kong-based investment company and an international investment company which trades in Forex using your money.
Forex Paradise works like the other typical HYIPs that are operating based on Ponzi Scheme. For those who are new, Ponzi is
HYIP like Forex Paradise can be very lucrative and profitable. If you look closely enough, you will notice that Forex Paradise started in 2014-01-22 and they have been paying their investors for the last two years but stopped since a month ago.
If you have been following Forex Paradise, tThey started offering investment plans that almost all mature approximately the same time. Of course, all these promoted plans offer ridiculously high ROI. Each one is shorter than the previous ones and all ending in October 2016.
The program has gone saturated with the membership and the scheme can no longer sustain the payout. Just like Capital7 before it died, only small payouts were made and the earnings were kept as “Bank Processing”.
For those who earn affiliate commissions, you can still cash out your commission instantly.
If you are wondering why the HYIP monitors categorize it as “Paying” and not moved to their “Scam List“, Forex Paradise is still making their payouts but in extremely small amounts. This strategy allows them to steal more money before they disappear.
NOTE: HYIP is an investment program that offers high return with a correspondingly high level of risk.
Should You Trust Forex Paradise?
You should not trust this investment company.
The Forex Paradise is a high-yield investment program (HYIP). If you have read the definition of HYIP on Wikipedia, It is s a type of Ponzi scheme, an investment scam that promises unsustainably high returns on investments (ROI) by paying previous investors with the money invested by new investors.
The Forex Paradise is a fake investment company. From the official website, one can notice it is an HYIP investment scam that aims to steal your hard earned money. Why? There are a few red flags I managed to pick up
#Red Flag 1 – Ponzi Scheme
Forex Paradise offers offer referral commission program. It is a good way to make extra money. By inviting more people to their investment programs, you will instantly receive ref commission from every deposit your referrals made.
For a real investment company, this would equal giving away the entire (if not more) profit margin. This is a typical trick from most of the HYIP on the market. They offer to reward “referral fees” to investors for bringing in additional members.
That’s how a Ponzi scheme is operated. They recruit new members to sustain the pyramid scheme. They need “new” money to generate “returns” for the older investors by acquiring new investors.
It is a fraudulent investment scheme where they pay returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources.
It is a pyramid scheme that typically collapses in the end because it requires exponential increases in participants to sustain the business model. That simply means the scheme cannot go on forever.
Forex Paradise has stopped paying their investors since early October 2016. They are still promoting their investment plans on those so-called HYIP monitors but we know they are aiming to grab your hard-earned money as much as possible before they disappear.
I personally have dropped an email enquiring their first convention in Hong Kong this coming November 2016, but have not received any response from the admin. That sounds pretty fishy. No?
#Red Flag 2 – Vague Investment Information
Obviously, there is a lack of details on how Forex Paradise manages the money from the investors. Forex Paradise tends to be vague about the strategies used in their program.
I tried to look for more information “About” Forex Paradise, all I got is just a vague information. Furthermore, they are not backed by a real and verified trader. There is no proof and information at all on who are running behind the scene.
As I mentioned above, given that Forex Paradise is an Investment Service, it should be regulated by the Financial Conduct Authority (FCA). There is, however, no record of the company in the public register.
This is your hard earned money, please do not be afraid to ask questions. A genuine financial professional will usually be happy to explain in detail the investment program they are marketing. Unfortunately, Forex Paradise fails to do so.
In an attempt to come up with a legitimate explanation of where Forex Paradise’s high ROIs come from, the owner(s) are feeding affiliates all sorts of nonsense.
#Red Flag 3 – High, Unsustainable Yields
I have years of experience in investments. Historically, investments in most large corporate stocks return less than 10% per year. Usually, HYIP scams offer between 1 percent to 2 percent daily profits to its members.
The Forex Paradise discloses their investment plans with no aim to hide its absurd and unsustainable returns. The provided calculator shows how it earns you an unrealistic % ROI under their investment plan. To me, it is a total nonsense.
The funny thing is the investment plan returns a perfectly steady positive income percentage regardless of any external variable such as price volatility. Don’t you think this sounds a little fishy?
The ROIs that they claim on the official page clearly indicate that the investment is actually a Ponzi scheme or a junk bond that may never increase in value and has a high rate of default.
Who Is It For?
Knowing, understanding, and accepting the risks is a fundamental step when getting involved with HYIP.
These high yield programs have the ability to generate exceptional returns, but only because the risk of loss is great. If you are willing to invest your money with high profit and high-risk investment scheme, Forex Paradise is one of the high-risk investment programs in the market.
I am not a huge fan of HYIP programs because I am a low-risk taker.
I have tried some of the HYIPs before and I have been scammed once. I hence did a thorough research and only discover some of these “investment” scams operate and steal our money.
My advice to HYIP investors is always set a budget for investment. Many people regard HYIP investments as a form of gambling and approach the investment with a similar strategy.
It is also recommended to determine how much money you can realistically afford to lose, and never place any more than this at risk. In addition to setting an overall investment budget, many people like to establish “stop limits” as well, which means that when your profits reach a specific plateau, you will take down all of your investments and profits.
Diversify your investments. With HYIP being such a volatile investment, it is important to spread your investment capital around.
Placing all of your investment dollars into one HYIP programs puts you at risk of losing all of your investment at once. Having the money distributed across several HYIPs will increase the likelihood that sustainable programs will offset the ones that close.
In addition to that, I also wrote an article on How to Invest Online Without Being Scammed. This should serve as a reference when you look for a legitimate investment company on the internet.
As I mentioned above, I am a low-risk taker. I don’t like the reliance on an HYIP in order to make money unless it is an extremely stable investment company.
Instead, I do affiliate marketing (it’s different) and rely 100% on myself to build an income online. If you are interested in alternative ways to generate a real passive income online, you might want to consider running your own legitimate online business.
One powerful way to do this is through an approach called affiliate marketing. Affiliate marketing lets you earn money by promoting products from other companies. Any product you promote is going to be based on your opinion, and you are not required to stick with just one company.
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When I carried out my initial investigation on Wealthy Affiliate, it was purely to see if the company was legit for a few friends of mine, however, I didn’t imagine that I was going to make much or ANY money with them when I first got started, but as it turns out – I did.
Well, I’m happy to say that I’m not the ONLY one making money in Wealthy Affiliate, as you can see from the pics below, and you’d be surprised at HOW many other people are making money too.
I know I was …
Extra Income as an Affiliate of WA
Just like Amazon, WA allows you to generate income as its affiliate member. Meaning, that if you make a sale, you receive a commission. If you don’t make a sale, you don’t make a commission.
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Here’s the commission breakdown for the sale of each membership.
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Here is a hypothetical breakdown of “monthly” income statistics for you based on just a 4-month recurring monthly membership commissions.
- 1 sale per day= $2,700/month
- 5 sales per day= $13, 500/month
- 10 sales per day= $27,000/month
I personally find I make more commissions through WA than Amazon as the training modules are solid and most of them stay with WA for more than a year.
Here are my recent affiliate commissions rewarded from WA. I generated $5,886 in my last 7 days and it’s actually ramping up over time.
As long as people are still a member of WA, I get rewarded the recurring monthly commissions. This is what I meant by sustainable income. There are more than three billion internet users around the globe. Making 1 sale per day is not difficult at all with the blueprints and the step-by-step guide from WA.
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It’s Your Turn Now
If you have any questions or comments, let me know in the comment box below.