Warning: Magic-trading is a big big scam site..!
By owelm0408
@owelm0408 (1011)
Philippines
September 16, 2009 4:31am CST
I invested some amount at this site because I was hooked by it's 28% interest offer. but it's been a week since I decided to withdraw my money until now, I still got nothing from them..It was indicated in their FAQ that withdrawal will normally take 6 before you receive the pay..But this is absolutely not true.Once you deposited the money, consider it lost.
5 responses
@imacRuel1 (258)
• Philippines
16 Sep 09
I tried it there too last week from an invitation here in my lot... The interest rate is really too good to be true...So I deposited a dollar from my Paypal account & was confirmed that a transaction from me to that site did really occur. But I have checked back many times now & I still have 0(zero) money in there...so where did my money go? Definitely a BIG SCAM!
@satyabs15 (119)
• United States
16 Sep 09
Oh... Very sad... It is really a big scam.. We should be aware of such scam site. Really we have some very few list of trusted site and a big big list of scam site which they are not at all paying or they will pay first time and try to make good impression and when we invest then thereafter they wont pay.
1 person likes this
@owelm0408 (1011)
• Philippines
16 Sep 09
I guess there are a lot of victim from this site..at least now we know
@victorywp (3524)
• United States
16 Sep 09
sorry because i introduced that site to you in the beginning. i was scammed by them too.
actually i received 8 payments from them before i introduced to you. but my ninth payment & onwards never comes. they don't even pay me the 5% referral commission as promised!
overall (after deducted my previous earnings) i still lost about $30 on capital invested not to mention the interest that they should pay me! i know there are lots of hyip scammers but since they use paypal as one of their payment processor, they should be somehow legit.
anyway, what we can do now is to do chargebacks. since i invest using paypal, so i report problem to paypal at the resolution center. describe the problem & the money will be freezed in their account (until problem solved). the person have to solve the problem with you (in 2 weeks) & if failed, you can escalate the dispute to paypal to judge the whole situation & paypal will decide.
already 2 days now & they did not contact me. i will give them 7 days before i escalate the problem to paypal. they surely wrong for using paypal as a payment processor to scam people in the first place.
even if i'm unable to get the money back, but this could surely cause some problems to them i believe. magic trading is a big big scam!
@owelm0408 (1011)
• Philippines
16 Sep 09
I used my alertpay money to fund my account hoping that i could withdraw it on paypal but I was wrong. I think lots of us had been scammed by this site. this should be a warning to everyone. not your fault to introduce this site because as for your experienced, you had been paid several times. too bad this has stop paying..let's be careful next time i guess
@victorywp (3524)
• United States
17 Sep 09
yes, $30 is a lot for me. it's my first earning in mylot + my first earning in imreportcard. too bad the money gone just like that after a hard work.:(
i still see people getting paid by magic trading. i think they are doing selective payments now. those investors with small amount ($1) will be paid, but once they invest $5 or above, magic trading will use the money to pay new $1 investors.
@owelm0408 (1011)
• Philippines
17 Sep 09
magic-trading has done its magic because the site was already gone.
@encounterking (264)
• India
16 Sep 09
try researching for legit HYIP sites... u can find the legit sites here www.hyipexplorer.com
@jovz07 (648)
• Philippines
16 Sep 09
Yes, they became a total scam now! I have received all the commissions from my share in my first investment. I have invested again for the second time and didn't got paid on the third and fourth round of my earnings. They still pay other investors but I think people who do not know this site will not join anymore after a lot of negative comments on the site!
I hope we learned from this. They cannot be trusted.
@owelm0408 (1011)
• Philippines
16 Sep 09
too bad i didn't read about your discussion..i only heard that this site pays.
@patofgold23 (5069)
• Philippines
16 Sep 09
I responded to a magic-trading discussion about a week or 2 weeks ago and told people that the site had stopped paying its members...
I guess it still got some of you
@sunny400611 (256)
• China
16 Sep 09
So I think the so-called investigation is just a scam,I never joined sites who asked me for money.I knew that will result in the loss of money,please keep clear man,I hope this is last time you gave money to investigation web sites.
