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Scam Review: Open Trade
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Overall Rating: |
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Type of Business: |
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Ponzi | Supposed Forex Investment Plan |
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Skill Level Needed: |
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none |
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Income Potential: |
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$0 |
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Recommended: |
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No |
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Weblink / URL: |
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https://www.opentrade.net
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See "SX Review" below...
What "Open Trade" has to say about itself - Beneficial Investing - If you ask yourself: why not to put my money into some bank. The matter of fact is that no passive deposit will ever compare to the incomes from active investments into one the most profitable legal businesses.
Investing free money has two basic objectives: to get the maximum profit; at the same time, keeping the money safe. Unless the money is invested, it will lie dead until it vanishes in the ocean of expenses.
Guaranteed Income - You probably ask yourself: can there be any trade involving no risk? We make a unique offer: regardless of the trading results we guarantee you a minimal daily income of 0.5% provided by the ever-growing reserve fund. We have good experience in currency trading as well as unique programs of technical analysis we have developed on our own.
Our trading system is original; it's the result of the joint work of our team and the specialists from several research institutes for many years. This is a software and equipment platform based on the genetic algorithm. The trades are performed without any 'live' operator involved and that's why you are insured from the human psychology mistakes. The self-educating system based on the database of trading during many years using the sophisticated algorithms, can take decisions to close or open any of the positions. The operator just enters the modifications based on financial news and reports analysis.
Options for Cooperation - We offer you several options for cooperation using which you can make a good investment as well as change your lifestyle, fulfill your financial plans and make your money work for you.
Source: https://www.opentrade.net
SX Review - Update: Dec 21 2007 - Yes... yet again I prove the naysayers wrong once more that OpenTrade is indeed an HYIP Ponzi Scheme Fraud!
OpenTrade.net has taken the money and ran! ...told you so!
Original Review:
Open Trade International, Inc. - Aquilino De La Guardia Street - Ocean Business Plaza, 1206 - Panama City, Panama. - - Panama? ...Need I say more?
This has to be the best managed Ponzi scheme of them all. They really do look like a legitimate investment firm, but let me assure you that they are just another scam waiting for the coffers to get fat before they take the money and run!
"...BUT wait David!!!! I made money with OpenTrade, they paid me on-time for 3 months now... they really paid me... I'm so excited that I finally found....!!!".
Uhhh ... yeah ...right!
These are the same people that write to me after the last Ponzi folds telling me how they couldn't believe they fell for a Ponzi scheme.
Okay... okay... here's how these Ponzis work in a nutshell...
A Ponzi scheme usually offers abnormally high short-term returns in order to entice new investors. The high returns that a Ponzi scheme advertises (and pays) require an ever-increasing flow of money from investors in order to keep the scheme going.
The system is doomed to collapse because there are little or no underlying earnings from the money received by the promoter. However, the scheme is often interrupted by legal authorities before it collapses, because a Ponzi scheme is suspected and/or because the promoter is selling unregistered securities. As more investors become involved, the likelihood of the scheme coming to the attention of authorities increases.
The scheme is named after Charles Ponzi, who became notorious for using the technique after emigrating from Italy to the United States in 1903. Ponzi was not the first to invent such a scheme, but his operation took in so much money that it was the first to become known throughout the United States.
Today's schemes are often considerably more sophisticated than Ponzi's, although the underlying formula is quite similar and the principle behind every Ponzi scheme is to exploit lapses in judgment arising from investor naivete.
Ponzi Definition Source: http://en.wikipedia.org/wiki/Ponzi_scheme
Thanks for reading...
- Dave
By the way, here's a real way to make money from home, I highly recommend you take a look at the following review I have posted here...
eCurrency Arbitrage Review.
Verdict - Guilty! Illegal Ponzi scheme!
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