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There were so many managed account scams in 2009 that I had to break the HYIPS off into a separate category.
As I said in the poll, HYIPs are't really forex. Many claim to make money trading forex, but all that I've seen so far are just Ponzi schemes. The FPA lists these to try to warn people against the HYIP concept.
There were 3 nominees for this award. All 3 of these scam websites have closed.
In Third place, for taking the money and running, ImokTrade.
In Second place, for demanding more money as a new condition for processing withdrawals, BestFxWorld. Before they disappeared and moved to new websites, they claimed that they were legitimate because they'd registered their domain name online.
And in First place, a HYIP using brand new name for a runner up in to the 2008 Scam of the Year awards. in 2008, they were called TradeLite. Their name in 2009 was...
These scammers are still out there somewhere. They'll keep making the same promises and taking people's money. Be smart. Avoid HYIPs. If you want to know how HYIPs really work, click here.
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As I said in the poll, HYIPs are't really forex. Many claim to make money trading forex, but all that I've seen so far are just Ponzi schemes. The FPA lists these to try to warn people against the HYIP concept.
There were 3 nominees for this award. All 3 of these scam websites have closed.
In Third place, for taking the money and running, ImokTrade.
In Second place, for demanding more money as a new condition for processing withdrawals, BestFxWorld. Before they disappeared and moved to new websites, they claimed that they were legitimate because they'd registered their domain name online.
And in First place, a HYIP using brand new name for a runner up in to the 2008 Scam of the Year awards. in 2008, they were called TradeLite. Their name in 2009 was...
LibertyReserveOffshore
These scammers are still out there somewhere. They'll keep making the same promises and taking people's money. Be smart. Avoid HYIPs. If you want to know how HYIPs really work, click here.
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