Should not invest money in HYIPs. These sites are forex fraud scams disguised as profitable investment programs. CAUTIONS!
HYIPs (High Yield Investment Program), also known as High Return Investment Programs are a scam used by the scheme’s creators and the kook affiliates to defraud investors with promises of easy money and abnormally high return between 1% to 80% in one day. When you are rich flee with their money. Normally, you can only participate with 10 or 20 euros and these scams also offer high commissions for referring new participants.
The kook behind these scams take advantage of the innocence of the victims and their lack of investment experience, to deceive them with promises of high returns. To recover the capital invested is takes a lot of luck and stick with earnings is even more difficult.
These scams work as follows:
You heard a friend or a site that it is possible to earn enough money every day to invest at least € 10. The more you invest, the more you win!
After getting crazy with the easy money talk, you decide to try your luck and open an account. To entice victims to fraud affiliates say it is 100% safe.
After depositing the money, every day you get a return of 1% to 5%, depending on the scam promises.
You get to raise the daily profit. In fact, it is receiving their own money. The money was not invested in forex or other investments.
The HYIP collapses when the creator of the scam is a millionaire or when it can no longer pay the promised return.
Often, high return unrealistic promises are enhanced with exclusive claims, limited admissions and a kind of secret formula that allows us to offer unlimited earning investors. These scams are simple websites. Not registered in any country and does not know is who’s behind.
If you find yourself tempted to participate in a program that offers a high return, then you should ask for at least the following information before deciding:
– Ask the name and company registration number.
– Requires the registration number on the regulator of financial markets.
– Requests the history of operations or profitability audited by an independent entity.
Also do not believe the web pages that monitor HYIPs to determine whether they are reliable or not, because although these sites use these HYIPs, most of their earnings comes from commissions generated by signing up on these sites. Or may be, will make money and you will lose because promoted it was safe.
Now, before you invest your money on sites that promise a high return and say that money is invested by professionals in forex, be suspicious. Discover how the HYIPs and learn from the tips to identify forex fraud.