Lately I have been seeing a lot of HYIP programs appearing on Facebook and I want to tell you what I have found or at least what they appear to be.
What does HYIP mean?
The word HYIP is an acronym for High Yield Investment Program. And I would say that 99% of them or just plain ponzi schemes. There are so many of these thing out there it is very hard to tell which ones are legit and which ones are not until its too late and you have lost your money.
The way most HYIP’s work is they start out paying extremely well and they do pay at first. But usually after about 30 days or so the payments just come to a stop and most of the clients that joined the HYIP too late have lost their money while the people who are in at the beginning have made their money and moved on. I have seen a couple of instances that involved some people who are made administrators of 2 or 3 different HYIP groups on Facebook and they will post fake withdrawals showing huge amounts of money being paid to them just to get other members to invest more.
These HYIP programs that I have seen on Facebook groups included titantrade.biz
and now I am seeing the same admins on merchantshares.com. When I started to spot these same people as admins of these different Facebook groups it all became clear how they were setting people up to fail. I cannot positively say but it seems like they were being hired by these HYIP’s to post fake withdrawals to inspire others to make huge deposits!
I can show you what one of these fake posts look like. This guy has been admin in all of the HYIP groups I named above and probably even more that I don’t know about. I did not show his name or picture for my own protection from law suit.
If you are in a group that has him as one of the admins be very cautious about how much money you invest with the HYIP. I am thinking he is part of the scam, if not it is a strange coincidence that he just happens to be in all these groups that prove to be a scam.
Are all HYIP’s scams?
I would say 99.9% of HYIP’s are scams. They usually only last about 30 – 60 days and then they are gone. If you can get in at the start and get paid your money then you are doing good. If you do that make damn sure you get paid and get out fast because it will go down and you lose everything you have invested.
There is one HYIP that I would trust and that is Forex Paradise, they are the only one I have seen that actually has 100% insurance on your deposit. But keep in mind this is a long term commitment meaning that your deposit will not mature for 12 months. They have also been around for almost 2 years with 2 offices, one in Hong Kong and one in London.
There is another good website you can check out to see if your HYIP or Binary trading site is a scam and that is Binaryoptionswatchdog.com
these guys focus mainly on binary trading sites and brokers. It is a great site to use if you want an in depth review of and binary trading site.
If you want to add more info about HYIP’s please feel free to make a comment below.