Blog of Alex (moderator)
01/30/2010 Interview With IncoForex Inc.
Today we are announcing a publication of the exclusive interview with James Acetta, a spokesman of IncoForex Inc, who provided answers to the questions, which HYIP.COM community of users have collectively put forward.
HYIP.COM: Hello James, I would like to start by thanking you for finding time to answer a set of questions which our community of users proposed to be included in this interview. I already know the answer to the first part of our question, but if you don't mind, please introduce yourself to our users and summarize the activity of IncoForex.
IncoForex: My name is James Acetta, I am Global Investment Assistant and Representative of Customer Support Center. As title describes - I help people to decide why it is good idea to invest in our program and what makes us special. If you dial our support number, I will be the one who will deal with your questions and concerns.
HYIP.COM: As you already know James, the questions we are putting forth in this interview, have mostly been submitted by HYIP.COM users via our website forum. We actually started this process all the way back in October of last year and although the answers may have already emerged elsewhere since, let us sum them all up with the up to date information.Here is the first question: Your website states that the "Current company managed capital has grown to approximately 50 million US dollars total". Could you please update us with the current value and clarify why the trading reports shown on the site have a lot smaller figure. Why is there several fold discrepancy?
IncoForex: The amount of $50 million specified, was given to offer an image of the company and to give our users the idea of approximate company valuation. Basically, we wanted to let everybody know that IncoForex online, is the addition to already working enterprise, where newly received funds are merged with pre-existent pool of funds in operation. We provided the ballpark value, it changes daily and we would prefer to keep the exact current numbers private. Trading reports shown on the website are of the representative trading account and this is why you see smaller figure. In other words, only a fraction of traded funds is included in the reports offered to public.
HYIP.COM: There is a good number of investors out there for whom the take home message on many interviews published on other websites on various investment programs is: They look "similar to one another", "boring", "have no valuable information" and so on. What would you say to such users and what would be your message to the interviewing parties and to HYIP.COM in particular?
IncoForex: Well, first of all, this is an ONLINE interview, with an online business and an online community. Did you ever see MasterCard's director announcing company total turnover? Interviews look similar because they are designed on paper. If you are interested, please come visit me in person. I am sure we will have a good, not formal chat and I predict it will not be a boring one.Similar to one another? Well, in many cases the quality of answers is the same as questions. Maybe this is the case of scams and ponzis, where there is just one man behind, who pays a lot of others to do the work - interviews, advertising, support and other things. Serious companies DO NOT HAVE JUST LIVE CHAT, they have real phone and real people, who answer it. Every monkey can sit on anonymous chat, if trained. Users must know that the core and the essence of business is important, not some interviews. There are many wizards of words, who can run terrible HYIPs, offering around and over 3% daily, but users choose to believe them! Why does that happen? Because people just after experiencing the pain of loss, don't want to believe in something that reflects the reality, but takes time to mature. So, you will see who a real corporation and who is a one man scam, trying to pull out a very good lie.
HYIP.COM: In one of the updates found on IncoForex website there is mentioning on that IncoForex "developed new trading strategy, which has been going through testing period for over several months now and shows stable positive result". The question relates to the following statement of IncoForex: "We plan to add this system to our trading platform during next months after full cycle of tastings." Is this still in progress and how this may affect current investors?
IncoForex: This has been already applied! If you look attentively at the news section, you can see that we have increased investors' share of profits by 5%. This means that our research is completed, we could safely reduce the Insurance Fund Allocation and we have deployed our latest invention! This affects investors in the best way there is - by increasing their profits!
HYIP.COM: The next question is more on a technical side and it is about accommodating investor preferences on payment systems usage by IncoForex. Are you planning to expand the variety of payment processors, and do you have any plans for a company issued debit cards?
IncoForex: Yes, we are going to expand the variety of payment processors in the future, but we really yet to see higher demand in order to do that. And even if that demand would exist, there are still payment processing fees issue, which are for some companies just awful. Presently used payment processors are most convenient and practical. But if, at some point of our activity, we will feel that there is room for other processors - we will do it! Regarding company issued debit cards - we are thinking about introducing our own, but if this happens it will be available only for investors who have deposits in the range of $10,000. Otherwise, It would be wasteful for users to pay ATM fees on $20 withdrawals.
HYIP.COM: A while back, your website stated that you are incorporated in Panama, but today we see Dominica certification. Could you comment on this change?
IncoForex: Yes. We decided to re-domicile the company to another jurisdiction, because we saw that most of ponzis and scams have their "offices" there. It would have been difficult for us to repair the image damage caused by simple Panama location. Also, in Dominican Republic, the police have strong bonds with FBI, so we are protected against possible fraud and money laundering activities.
HYIP.COM: What are the IncoForex rules and policies on KYC (Know Your Customer)?
IncoForex: We suggest users to read the complete list of terms of our service on the website. In short, being an online program, our Know Your Customer policies are in most cases limited to knowing customers' IPs and E-currency account numbers if digital currencies are used for deposits. Of course, there is also an option to deposit via bank wire and in this case we may place a verification phone call to the transfer issuing bank and if necessary to confirm limited details about funds sender. We are very careful about wires sent from select countries.
HYIP.COM: What would be your non formal reply to the following question: For how long do you think IncoForex will continue its operations and what this depends on?
IncoForex: For as long as we feel to do it! Surprised? We are not going to say like some others, that we are going to be here for eternity, because in the real world, it is impossible to see the "forever". But today, a term of about 5-8 years is the time span, until we don't think there will be a need to re-assess future projections. Even if the program closure question will at some point arise, this does not mean that anybody will lose money. There are many factors which may influence our business several years from today and there are many ways of continuing our business, even as private investment fund, with closed registration process.
HYIP.COM: Do you use "clip art" photos in your website design? Some of our users mentioned "familiar faces" on the website, so to speak.
IncoForex: We do use images produced by expert photographers and designers, who are experts in their field. When experienced in what they are doing photographers create images on some specific subjects, it is their professional goal to be able to send certain messages to those viewing such images. Our primary expertise is not in imaginary, but in generating profits on currencies trading, but we do appreciate the feedback and will adjust to it.
HYIP.COM: Advertisements (banners), which IncoForex is using, are mentioning that investors may receive up to 3% daily in earnings. However, those participating in the program longer have mentioned that actual earnings are less than that on average. The question on this in exact format one of our users formulated for you on this is "What's up with that?"
IncoForex: First of all, we had days when total profit was above 5%, but of course, such days are not frequent occurrence. Secondly, it is a common practice in marketing techniques for any business to use somewhat exaggerated statements, although many indeed are abusing this. Having said that, I would like to assure you that "up to 3%" value is not an imaginary figure, this is what our trading system can produce in reality, if tested on historical values. One of the things that affected total system profits in the past was our new trading system testing (mentioned earlier). Today, our users should begin to see their profits significantly improved.
HYIP.COM: In one of your company updates, it was announced that IncoForex is hosting public forum located at IncoForum.com. Is this something for program participants only or anybody can sign up? What is the purpose of creating this forum?
IncoForex: This forum is available to both, members and nonmembers of the program. It can work as a persuasion tool and as a little social network, where members can share their points of views or can present company's information to those who are eager to register, but are a little hesitant. We already have more than 500 members registered on the forum, but unfortunately we faced slight spam problem lately. This is not an issue to stop our socialization! We have now active moderators present at the forum who may also help with basic program related questions.
HYIP.COM: IncoForex website visitors may look up your trading reports for any day and see profit results for any given day. Are the earnings shown on these reports in direct proportion to what program participants are earning?
IncoForex: The numbers shown on reports are total profit generated by the company. This is done with transparency in mind and to show how exactly our profit sharing is working. Members depositing larger amounts are rewarded with the greater share of profits. For example, if you are a VIP investor, you have a 90% share, so if on one day the total profit result is 3%, you will have 90% share out of it, which means - 2,7%.
HYIP.COM: You must be having daily deposits coming "in" and, as your investment plans suggest, daily withdrawals must be going "out". Could you provide a little more details on how users' funds are handled, in what volumes and how digital currency payment processors fit into this scheme?
IncoForex: Well, there are APIs and automatic withdrawals. Each deposit that is registered on one day has an automated withdrawal date projected for 180 days later. So, if you deposit today 10 $, you will see your profit directly into your e-currency account after 6 weeks. The money earned for referrals can be withdrawn at any time, and this operation is being done by our Support and Financial Team, as an automated scheme to do that doesn't exist.
HYIP.COM: Is there any other message you wish to be communicated to the community of investors?
IncoForex: Yes, I really enjoyed giving this interview and we hope that you won't rate us as one similar to others. May the joy, hope and happiness surround you everywhere!
HYIP.COM: Well, I am left to thank James Acetta for being forthcoming in this interview. I am also joining him with all the wishes to the community of investors and I hope that everyone will continue taking part in all our upcoming interviews. The Investor Factor, is what drives this promising, but still very vulnerable industry and which is what determines how we together rate one or another program (wink ;o) to James).
Those users new to IncoForex, may want to review detailed program description HERE..
Disclaimer: We are in no way affiliated with any of the investment programs listed on our website. The information presented on our website is based on statistics and personal experience only. Please keep in mind that all HYIPs investments are highly risky. We do not recommend you to invest more than you can afford to lose.
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