This week's Massive Scam - Hybrid Pips

[daggerdirk]

HYBRID PIPS
The hard sell rapid-fire verbiage in typical fashion guarantees a "once only" US$37 payment but then goes on (in the text), to very subtly reveal that it's actually a "monthly" charge.

The PLIMUS sign-up page of course then reveals the truth (if you look very closely at the recurring payments" link). You'll find that it's actually now become a weekly payment of said amount.... within 3 days (for 999 payments with a peak outlay withour re-authorization of $10K.

IMHO this marketing subterfuge makes PLIMUS complicit in outright fraud. Clickbank aren't involved. It's about time the US Attorney General prosecuted some or these fraudsters.

 

[daggerdirk]

Prosecute the Affiliates as well - they are equally confederate in these scams

After reviewing a whole bunch of the misrepresenting affiliate emails I am convinced that it would be equally desirable and useful to prosecute the affiliates for fraud as well.
They are knowingly complicit in all these scamming frauds.

It wouldn't take too long to clean the scene up.... which would be a good thing.

Then you could start on MetaQuotes for their devious software4 LIVEUPDATES and "cheat tools" for brokers that are solely designed to defeat the traders and their EA's.

 

[Pharaoh]

Make sure to complain directly to Plimus. They may not have reviewed the ads for accuracy.

 

[Steveh]

Don't waste your time subscribing

I paid the $37 just to see what it was all about, and was prepared to accept that it would be money wasted.

As mentioned by other posters, the first thing you find out is that the payment is a recurring one.

As you go through the subscription process there are three different upsells along the way:
1) "Mr Ryan" only trades one currency - to trade more currencies you are invited to pay an additional $67 (I think)
2) "Mr Ryan" only trades certain times of the day - but he has other traders trading at different times, so to get this benefit you are invited to pay an additional $97 (I think)
3) to have access to "Mr Ryans" private "club" you are invited to pay an additional $497 (I think)

Once you get through this you find out that what you are really getting is a trade copier for MT4 and you choose the trader you want. I didn't see anything with Mr Ryans name and only 3 other traders to choose from.
If you want more than one trader - you guessed it - you pay more.

I only had a quick look at the traders results and didn't pick up anything outstanding. I focused on the average win/loss trade values and the losing trades I saw were of a greater $ value than the winning ones.

I certainly did not see/find any results matching the ones shown on the website itself.

Needless to say I cancelled the recurring subscription straightaway (I paid via Paypal knowing I had some form of redress if anything went wrong)