What Bullish Trader offered to Kenyans

Posted by Felix Okoli on Wednesday February 20, 2013 at 9:46:37:

What did Bullishtrade.com really offer to Kenyans that made it so popular among them? Well, I had the opportunity to view the website some few weeks before it went down and saw what they offered.

For those who don't already know, bullishtrade.com operated as an online forex trader that allowed people to invest their money and just get back huge profits after a few days. For day now since early February, the website has been offline and a lot of Kenyan investors are worried that it was a scam all along.

Well, Bullishtrade.com had 3 packages for investors to choose from which offered an increasing rate of daily profit for increasing amounts of capital invested as follows:

Starter Pack:
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This was a beginners account that came with the following details:

Daily profit: 3%
Minimum deposit: 25 USD
Maximum deposit: 499 USD
Profit days: 40
Principal amount: included
Total return: 220%
Affiliate commission: 10%
Binary commission: 10%

Premium Pack:
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This was a middle account that offered a bit more than the starter pack. It came with the following details:

Daily profit: 4%
Minimum deposit: 500 USD
Maximum deposit: 4999 USD
Profit days: 40
Principal amount: included
Total return: 260%
Affiliate commission: 10%
Binary commission: 10%

Advanced Pack:
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This was targeted at higher capital investors and it came with the following details:

Daily profit: 5%
Minimum deposit: 5000 USD
Maximum deposit: Above 5000 USD
Profit days: 40
Principal amount: included
Total return: 300%
Affiliate commission: 10%
Binary commission: 10%

Critiques
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Daily profit:
This is basically how much profit your capital would earn as long as it stays with bullishtrade and for the lowest pack, they were offering 3%. Even most banks I know don't offer that rate even for a month talk less of in days. Well it looked attractive. For someone investing about 499 USD, he would be getting about $14.9 daily profit. That's a huge profit even for professional forex traders but how real is it? One would also need to consider your risk:reward. How much would you risk daily to gain $14.9.

Total return:
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This is the total profit plus capital you'd get back from bullishtrade at the end of the 40 days if you keep your money with them. For the advanced pack, if you had kept $5000 with them, it would earn you 300%. So, first you'd get 200% which is the total daily 5% profit for 40 days and 100% of your capital returned back making a total of 300%. This brings a total return of $15,000 which includes the $5000 initial capital and within 40 days.
That would be a dream for most forex traders. I don't know of any finance house that offers such a kickback.

Affiliate commission:
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This was at a flat rate of 10% and a lot of people were also into this. The rate seems standard enough for the industry as many online merchants do offer the same rate. But I'm not sure how many affiliates actually received their money or if they were allowed to withdraw anytime they want. For affiliates who introduced a lot of people, I guess they may have a lot of investors now on their necks since bullishtrade.com has simply vanished from cyberspace.

Conclusion
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What bullishtrade.com offered was really an almost unbelievably high returns on investment was enough to lure a lot of people into the business. I am not sure how many people paid money to bullishtrade.com from Kenya and I'm not sure if they would get their money back. I guess one thing people should do with most of these HYIPs is to first make sure they get their capital back if they intend having a long relationship with them.
There really is no easy way to make money.

Note: The term bullish trade and the website bullishtrade.com are two different things. You can make money from forex trading using bullish trading strategies by simply riding the bull and knowing when to exit.

Comments:

Re: What Bullish Trader offered to Kenyans

PLEASE MAY I KNOW MORE ABOUT INVESTING.