Other than the track record of a particular program, how can you tell if a hyip is legit? Basing your decision on contact information doesnt seem too reliable to me because it would be foolish for a hyip to give real contact info that would subject them to the scrutiny of the SEC or some other government agency. Even if the program is based offshore (outside of the U.S.) they would still be taking a big risk in giving their contact info because they would be subject to their base countries regulations and pressure from other countries.
Best to assume that they are all scams. If you still want to play, try to figure out (guess) if they are going to be around long enough to get your principle back.
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*As is true of all witch-hunting groups, the greatest sin was not so much the specific transgressions of the member, but any refusal to sanction the heresy-hunting procedure itself. - Rothbard
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Best to assume that they are all scams. If you still want to play, try to figure out (guess) if they are going to be around long enough to get your principle back.
Very sound advice. The reality is that they are pretty well ALL SCAMS
Keep this in mind, enjoy the ride and dont let your greed rule your head - you may just make a profit ! Pluggy offers unsecured loans to new investors if you are interested !
I beg to differ. I was able to contact and verify biographical information on the owners of StudioTraffic and GlobalMutual. As long as a company is incorporated outside the US, has it's offices and servers based outside of the US, it is beyond the jurisdiction of the SEC, FBI and any other US regulatory agency. Any company that provides false contact or bio info or false registration information is a sucker bet, to be sure. Most of the time, they try to hide their information so YOU wont come looking for them. They don't really have to worry about prosecution in Panama, WI, Belize, Caymans.....etc. Malaysia will prosecute fraudulent companies however, you can check Incorp. filings here:
I understand the strategy of getting your seed money out as soon as possible, but I believe that there must be some programs out there that pay well and will not scam their members. What about the programs that feeder fund invests in most people say that they are reliable or is it just that they can run their scam longer because their return is lower?
I have done some research on Feeder Fund and believe that it is a legitimate offering as is StudioTraffic and Global Mutual. That isn't to say that you couldn't possibly lose money because businesses fail every day. Companies that have diverse portfolios such as GM and FF are probably the safest you can get on the net. The fact that they reveal their investment stategies, and that you can actually check this information is a sign of a legitimate opportunity.
I know you are probably not going to agree with my views here. I simply say that you can believe all this if you wish !
Anyone, absolutely anyone, can create what appears to be a legitimate company. What you need to ask yourself is this. Are the returns realistic, DAY IN, DAY OUT ! RAIN OR SHINE ! Answer.....no bloody chance !!
Well, Tony, then you get into track record. ST, GM and FF have been paying out for over a year now. They must be doing something right. At least they give you some indication as to what they are doing with funds and are diversified somewhat.....though I believe ST is a ponzi.....it is one of the best managed ponzis I have ever seen in my life (besides Social Security).
Of course, if a person was reasonably intelligent and had a significant amount of money to invest, he shouldn't be dealing with Hyip's at all. Buy into a fast-food franchise or buy a foreclosed property and turn it over for a profit. Those are areas of investment where you have more control.
Well if there is no way to tell if a program is legit other than track record, why have prime fund and syncivest come under attack? As far as I can see they have been paying?
Well, Tony, then you get into track record. ST, GM and FF have been paying out for over a year now. They must be doing something right. At least they give you some indication as to what they are doing with funds and are diversified somewhat.....though I believe ST is a ponzi.....it is one of the best managed ponzis I have ever seen in my life.
Your right - they do pay and they are long term ! But yes they are ponzi's ! Any bank in the world would pay millions to any trader that can produce them 1% every working day of every year.
Enjoy the ride - get your capital out and make what you can. They all die eventually - oddly enough real traders go on for years !!!
How can you tell if a HYIP is legit?
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