July 3, 2010

FundsOMatic Review

2010/07/03 FundsOMatic Review

Hello everybody! It seems like we have been seeing some more HYIPs join the market and it looks to me like the administrators are training a bit harder to gain our trust, loyalty and business etc. I am going to review a new long-term program today called FundsOMatic and I think it's one that at least deserves your consideration and 2nd look. I would still do your regular due diligence that you would normally do because only you can tell if a program is right to mix in with your investment group.

As I was doing my due diligence on FundsOMatic, I came across the name of the owner/administrator and immediately the name sounded familiar. The owners name is Randy Mitchell and as I tried to think of what program he was associated with, it came to my mind that he was the previous admin of SurfOMatic. SurfOMatic was a successfully ran autosurf program that ran almost 2 years. I think that there will be quite a few readers that will remember him and more likely remember the program that he ran previously as he had quite a following. More importantly, when that autosurf program closed, he made sure that everybody was paid and that nobody lost any money.

To me, this is very commendable and quite an achievement to have ran a program for that long and keep everybody out of the red. I wish this was the kind of admin that we saw every day when dealing with these HYI programs. It is very likely that his large fan base from the previous program will want to join right away when they see that he has started a new program as they are already going to feel comfortable with him and wager a deposit. Hopefully, this will see FundsOMatic off to a great start and stabilize it, making it ready for a good run. I've got my fingers crossed as we need quite a few more stable programs to start off so that this industry gets back to what it once was.

FundsOMatic has a daily plan and a weekly plan with five different levels of price entry. The daily plan will allow you to recoup some of your money back faster than the weekly plan but the weekly plan is a little bit shorter and will allow you to make a bit more money as the interest rate is higher. I put a snapshot of the graph below that is used on the website to show the individual plans and the interest rates that they pay.

As you can see there is a low initial investment of just $5 to join and a maximum of $15,000 in either plan. The difference between the daily and weekly plans is that the daily plan runs for 200 days and the weekly plan runs for 26 weeks which works out to be 182 days. So if you did the daily plan, you would be able to regain a little of your funds faster because of the payouts but if you did the weekly plan, then you would make more interest and money and end up finishing 18 days earlier. It is a matter of personal preference and it is one for you to decide of course but I would definitely give the weekly plan some good consideration.

I will use the first plan in FundsOMatic to compare the daily and weekly plans:
Let's say you joined the first plan with daily payouts with a $100 deposit. You would receive 0.8% interest which would add up to 5.6% interest per week. You would break even after 125 days and finish the 200 day plan with $160 and end up with a payback of 160%.

If you join the first plan with weekly payouts with a $100 deposit, you would receive 7% interest a week and would break even after 15 weeks. You would finish that 26 week cycle with $182 and expect a payback of 182%. The interest and payback gets quite enticing the more you climb up the plan ladder but so so does the initial investment. These amounts are the total that you will get upon expiry as the principal is included in the payback in all the plans.

So, you can see that there is a bit of an advantage by going with the weekly plan versus the daily plan and it is definetly worth giving some thought to. It's a matter of personal preference but I think that both of them will be popular. It will be interesting to see.

I also wanted to mention that FundsOMatic does not have an early withdrawal feature. When you are deciding the amount to invest please keep that in mind so that you do not run short of money for emergencies etc.

The payment processors are listed as AlertPay, LibertyReserve, PerfectMoney, GlobalDigitalPay, and StrictPay. As always, I am glad that they have AlertPay listed as it has become one of the safer options lately. You will need to get in there and request your payouts manually, so don't forget to do that when the time comes.

The website has a nice look to it and it is a licensed version of the NeverSay script. It is easy to get around and there is not a lot of extra mumbo-jumbo in there to hype it up which is nice to see less of. They are hosted on a dedicated server with the hosting provider being CyberCobra. DDoS protection is being provided by Fivva Networks. I am not all that familiar with either CyberCobra or Fivva Networks so I cannot say how their service reputation has been in the past. Hopefully, the admin used their services with the prior autosurf program he ran and was pleased with their services, so he continued them with this website as well.

They have a Live Chat feature built in the script and if they are not online you can use the online support ticket to send them an e-mail if you have a support issue or want to ask a question.

The plans in FundsOMatic are a bit more conservative than the ones we have seen lately with the short-term programs but the problem with short-term programs is that most of them have been barely able to complete a couple cycles lately and then they're gone the next day. I think that a lot of people are getting tired of the short term programs scamming so fast. I know I am getting real tired of the obvious scamming. Especially the ones that close before they have even made any payouts.

While we don't have a guarantee here, we have a good administrator with a good record and plans that are sustainable, as long as the program receives the right support. I am thinking that with the good intent that this admin has and the fan base from his old program, that FundsOMatic could be a good part of a well diverse investment group. I think that this one is defintely one to keep your eye on. With the low entry amount of $5, almost everybody can afford to get in without breaking the bank. As always though, don't spend more than you can afford to lose.