This is SCAM project already! Do not invest there anymore!
Forex Union Finance Limited (Forex Union for short) was incorporated on January 23, 2017. It came online on February 12. However, according to its website, they “are the team of creators and technicians, programmers and mathematicians, accountants and profit-managers, who for the past 6 years altogether” have been in the trading business. So, I guess they have been in business for quite a while although they were not incorporated? The Articles of Incorporation indicate that a Mr. James Bentley, an Englishman, serves as the sole director of the corporation and is also its secretary. He holds the sole share in the corporation that he purchased for one GBP. The Articles go into great detail about procedures for appointments of directors, directors meetings, etc. as well as similar procedures for shareholders. This is the same situation as for a number of other HYIP programs incorporated in England that I have reviewed recently. Once again, one wonders about the need for all this as the company is obviously a one man show. But, you might think, why is it a one man show if they are such a large and successful operation? This and many other questions about the structure of the company are unanswered. The information that is provided only adds to the confusion.
To make matters worse, the English used in the website is clearly that of a person who is not a native English speaker. A company based in England should have no trouble finding someone who is capable of writing flawless script for the website. Unfortunately, this situation is common and, especially for a company based in the UK, casts serious doubts on a company’s legitimacy. This was discussed in detail in Issue #2 of Emily News HYIP Insights that you can read here.
This information is unpleasant to discuss. However, the potential investor always wonders about the company he will be entrusting his money to. In this case, there appears to be reason for a great deal of caution.
All this said, Forex Union is supposedly involved with Forex trading as well as with investing/trading on the stock market. They claim to be very good at what they do, not only because of the expertise of their trading team, but also because they use automated trading methods that permit quick response to market fluctuations. They even claim that they might be the most qualified trading group of all in this type of business. “According to our information, no one else can conduct the trading sessions in such way. At least we know how to do it far the best of all, because we developed such an approach independently of the competitors.” This is quite a claim. However, if it’s true, potential investors with Forex Union are in luck!
Well, let’s discuss the investment programs offered by Forex Union. After all, that’s what we’re here for. There are six of them. The first three are relatively short term and return your investment at the end of the investment term. The second three are relatively long term and do not return your investment (it’s included in your earnings). Here’s a summary of the first three programs:
Union Newbie
2.1% daily for 5 calendar days
Min amount: $10
Max amount: $50
Union Advanced
2.3% daily for 10 calendar days
Min amount: $51
Max amount: $1,500
Union Trader
2.5% daily for 15 calendar days
Min amount: $1,501
Max amount: $10,000
As you can see, the first two Forex Union investment programs might be within the reach of most online investors. The third is probably reserved for the big spenders — or, I should say, the more serious investors. OK, let’s take a look at what would happen if you invested $100 in the “Union Advanced” program. Your daily earnings would be 2.3% which, for a $100 investment, is simply $2.30. By the end of the 10 day investment period you would have earned $23 (10 x 2.3). And then your principal would be returned. All three of these programs will work the same way. Of course, your principal is locked in for the entire investment period. So, while you can withdraw your earnings at any time, you will not be in profit till you receive your principal back.
Here’s a summary of the second three investment programs. Again, in these programs, your investment is not returned at the end of the investment period; it is included in your earnings. That’s why the interest rates are higher for these programs.
VIP Silver
3.0% daily for 100 calendar days
Min amount: $500
Max amount: $2,000
VIP Gold
3.5% daily for 100 calendar days
Min amount: $2,001
Max amount: $5,000
VIP Platinum
4.0% daily for 100 calendar days
Min amount: $5,001
Max amount: $100,000
These Forex Union investment programs run for over three months. So, they are reasonably long term for a HYIP. They also require a fairly healthy investment. Probably only the first program will be of interest to most online investors. So, let’s see how an investment of $500 would work out in the VIP Silver program. For a 3% interest rate, you would earn $15 per day. By the end of the 100 day period, you would have received a total of $1,500, a profit of $1,000. You would break even in 34 days (500/15). This is a very profitable program and the time to break even is reasonable. The other two programs in this group are even more lucrative. However, the minimum investment for them is probably beyond what most online investors care to risk.
Please stand by for Part 2 of this Review which will be coming soon.
