Okay here I go...
Ibizatraders is a forex trading based program which states that they will pay investors about 20% monthly.The first month result is 15% by the way. 20% is really a nice profit and not many people can do that consisitently but it is quite possible. They have also stated their risk management style: "No more than 10% of the capital is ever at risk." Further, they do not provide referral bonus which is what most ponzi programs do: " We do not offer any type of referral bonus."
An explanation on how the program works: " By the 7th of the month, your earnings will be applied to your account as active principal and backdated to the 24th of the previous month if you have compounding enabled."
"$250.00 during the first 3 months as a promotion. After 3 months the minimum investment will be $ 1000.00. After the preliminary 3 month status. Any member that has made the minimum deposit in the first 3 months will be allowed to invest under the normal terms." And this offer ends on 24th September 2006 by the way.
They also do not have a maximum amount set: "At this time there is not a maximum amount set. Please feel free to invest as much as you like. For very large investments, please use the bank wire option."
" You must have funded your account on or before the 24th of each month in order to start earning the following calendar month. Returns will be published on the last day of each trading month. All bank wires should be received and approved by the 24th of each month to be credited as active principle." Okay here's the KEY. Bank wire transfer. Think about it, would ponzi programs use wire transfer? It is known that wire transfer would leave a trace and if the admin is involved in money laundering, he's gonna be caught.
Three ways to fund: "You can deposit with Ibiza Traders by using E Gold, E Bullion or a Bank wire transfer. If you decide to do so you can always deposit through the aforementioned options.. All the funds received on or before the 24th of each month will be taken into trading as per the 1st of the following calendar month. Hence you wont see your deposit appearing in the my account section until the 1st of the following month i.e. when your deposit has been transferred internally to our trading account. All bank wires are to be done in USD. All bank wires should be recieved and approved by the 24th of each month to be credited as active principle."
So what can I say about this program? It is better than 95% of other ponzi or hyips programs that you find. BUT it is new and so the risk in my opinion is that from trading loss. For those who have a low risk tolerance please wait for about 6 months after the launch of this program to join which by then is $1000 but at least you are quite sure that they will perform consistently. At the moment the forum is inaccessible not sure why... (will add more things if i can find... )
A quick check of whois at arsys.es reveals correct info:
Datos del dominio ibizatraders.es Registrante: Peter Ris
Contacto Administrativo: PR214-ESNIC-F4
Peter Ris
Aptdo 16
07817
Ibiza
ILLES BALEARS
ES
+34.971396222
rispeter@telefonica.net
Contacto Técnico: PR214-ESNIC-F4
Contacto Facturación: PR214-ESNIC-F4
Fecha Creación: 17/05/2006
Fecha Expiración: 17/05/2007
Servidores DNS:
ns12.zoneedit.com
ns7.zoneedit.com
Some important people have better quality images
and they have verified Peter Ris documents as genuine.
Again bluemax respected forum moderator for hyipnavigator
confirmed my belief:
"
I
have no reason to believe that this is a fake program
whatsoeverLeftfield. Quite the contrary. I would agree
that the biggest risk with any "real" program is the
talent and experience of the traders. Time will tell
on this. Clearly we'd all like to know that stop losses,
leverages and other measures are in play with relatively
conservative controls to help protect the fund."
That should be sufficient I hope. Have a nice day!
Anyway here are relevant links:
http://lazymaninvestment.blogspot.com/2006/09/ibizatraders-update-pp01.html
http://paranoidinvesting.com/articles/ibiza-traders-reviewed.html
http://hywd.info/node/494
http://lazymaninvestment.blogspot.com/2006/09/ibizatraders-forum-news.html
http://www.hyip-navigator.com/forum/showtopic.php?
http://www.oppinvestclub.com/article/ibiza-traders-11-1.html
*****edited Okay, please ignore the part about wire transfer.I have feedbacks from
readers that Scam programs do use wire transfer as one of the option. One of my reader
told me that Ralf-finance which was a scam allowed wire transfer by giving him their
"bank details" for wire transfer but turns out to be details of egold exchanger in
Estonia. So wire transfer doesn't mean anything. Hope this helps... and take a look
at 10 myths of due diligence, I made a mistake but yes everyone learns from
mistakes! Just beware next time! |
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Just wanted to comment on your 'Bank Wire' reasoning. Remember FastMarket? They used bankwires, I knew people on forums that actually used the option, and they were a ponzi and ran. So bank wires shouldn't be used to determine anything.
Cheers.