Pana Money

Category: Forex Managed Accounts Reviews http://www.panamoney.net/index.htm Average user rating from: 9 user(s) Managed Accounts Rating 2.0   Add new review Your name:* Your email address (it will not be published):* Your location: Select location: Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Arctic Ocean Aruba Ashmore and Cartier Islands Atlantic Ocean Australia Austria Azerbaijan Bahamas Bahrain Baker Island Bangladesh Barbados Bassas da India Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Bouvet Island Brazil British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Clipperton Island Cocos Islands Colombia Comoros Cook Islands Coral Sea Islands Costa Rica Cote d'Ivoire Croatia Cuba Cyprus Czech Republic Denmark Democratic Republic of the Congo Djibouti Dominica Dominican Republic East Timor Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europa Island Falkland Islands (Islas Malvinas) Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern and Antarctic Lands Gabon Gambia Gaza Strip Georgia Germany Ghana Gibraltar Glorioso Islands Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong Howland Island Hungary Iceland India Indian Ocean Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Jan Mayen Japan Jarvis Island Jersey Johnston Atoll Jordan Juan de Nova Island Kazakhstan Kenya Kingman Reef Kiribati Kerguelen Archipelago Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Midway Islands Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar Namibia Nauru Navassa Island Nepal Netherlands Netherlands Antilles New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Korea Northern Mariana Islands Norway Oman Pacific Ocean Pakistan Palau Palmyra Atoll Panama Papua New Guinea Paracel Islands Paraguay Peru Philippines Pitcairn Islands Poland Portugal Puerto Rico Qatar Reunion Republic of the Congo Romania Russia Rwanda Saint Helena Saint Kitts and Nevis Saint Lucia Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Korea Spain Spratly Islands Sri Lanka Sudan Suriname Svalbard Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Togo Tokelau Tonga Trinidad and Tobago Tromelin Island Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu Uganda Ukraine United Arab Emirates United Kingdom USA Uruguay Uzbekistan Vanuatu Venezuela Viet Nam Virgin Islands Wake Island Wallis and Futuna West Bank Western Sahara Yemen Yugoslavia Zambia Zimbabwe Ratings (the higher the better) Managed Accounts Rating Rate it Scam 1 2 3 4 5 Comments:     Please enter the security code. Add new review Reviews Feed February PROMOTION Learn more. FOREX JUSTICE SPOTLIGHT ARTICLE   Read more. Company response We have not received a comment or response from this company. User reviews SCAM Saturday, 17 July 2010 Written by Mike from USA Like many of you who posted here, I have been with Panamoney for several months and seemed to be making good profits and doig regular withdrawals - until April. I have lost about $20k that was going to be grown to help me retire. Now I have to start over. There are threads on many of the FOREX websites of people relating similar experiences and what they are doing, or not doing, about it. I think that we should get as many people as possible in one place to communicate and organize our effots to get our money back and put those responsible in jail. We hav a much better chance of success if we join forces and share resources. I have created forum to that end. Please visit http://destroypanamoney.com/ and share your experiences and what steps you have taken. Let's work together. I am posting this message on as many forums and blogs as I can find. Please do the same so we can get the word out. Yours in victory - Mike SCAM Saturday, 22 May 2010 Written by benedyglen from Italy Since 1 month ago they stoped paying, no reply from the support.... SCAM Tuesday, 18 May 2010 Written by Decko from Switzerland Panamoney is not paying since Apr.2010, maybe just small amounts! Saturday, 10 April 2010 Written by General from USA WARNING for all Panamoney investors! I hope this doesn't happen to you! In Feb. 2010 Panamoney emptied my account and transferred it to Panamoney using fraudualant information. I had initially invested a very large sum of money back in Feb. 2009. For about a year I rolled it over and withdrew earnings. My account was a little more than 2x my original investment. My family and I were using that money to live on and were able to give assistance to others as well. We were very greatful for this opportunity. This all ended in Feb. 2010. As far as I can tell, someone had to have hacked into Panamoney's website and obtained my security question and answer. Once they got that information, they were able to: 1) change my e-mail address; 2) change my Liberty Reserve account number; 3) change my password; 4) request an early withdrawal via ticket support and e-mail. Panamoney never verified if I had initiated these changes by contacting me through my original e-mail address and never verified the new Liberty Reserve was mine. Panamoney never questioned why so much pertinent information needed to be changed so quickly (from an IP address different from mine) and then an urgent request to do an early withdrawal. Panamoney then quickly processed the request, by-passing their own instructions as to what was necessary to do an early withdrawal. Panamoney should also have stopped the whole process and told them there was nothing left to do an early withdrawal with because my account was already in profit! Instead, Panamoney allowed the changes to my account and processed the request all in less than 24hrs and on a weekend! Panamoney was then able to take back all the profit I had earned through my investment according to their Terms of Service: " The Company’s commission for early withdrawal is 12% from the initial amount minus the profits including, in case of combining, the profits made from the plans prior to their combining as well as afterwards. The early withdrawal to be requested by e-mailing the Company’s Customer Support Department and will be executed within 5 days." (You would think that was put in there in case someone had an emergency and needed to get their investment money back, not to allow Panamoney to get all your profits back after using your investment to get them! They actually put my account in the Negative!) There was absolutely no way I could contact Panamoney and stop this process, I tried. I could not even tell what was going on because I could not get access to my account. It was not until over 48 hrs later that Panamoney could help me, by then it was too late to stop anything. Panamoney claims that I gave someone access to my account or they hacked into my computer. First, I didn't give anyone my information and I didn't even know how to change all my information. I had forgotten which security question I used and had to go through them myself until I got it right to change my information back! Second, I don't store security information or passwords on my computer. The only place they could get that is if Panamoney gave it to them or they hacked into Panamoney's website. I requested all e-mail correspondence Panamoney had in regard to my account. The only one they will let me see is the one that requested the early withdrawal. Any others they say they cannot show me because they don't know if it was from me or the thieves. Panamoney is now concerned in protecting would be thieves privacy but had no trouble allowing them to initiate an early withdrawal through a fraudulant e-mail account that Panamoney did not verify was mine and that wiped out my account without making sure who they were and then Panamoney gets the money. Also, in regard to withdrawing money, Panamoney states in the Terms of Service: "8.1. The money will be withdrawn within 24 hours once the withdrawal request is made, except for weekends and Forex holidays." They fail to mention that early withdrawal requests can be done on weekends. Again, this gave me no opportunity to stop this process because they could not be contacted on weekends! They also had 5 days according to their Terms of Service, so what was the hurry? I have tried to reason with Panamoney for weeks about the fraud that has been committed and how Panamoney did not even follow their own procedures. I could see in the ticket support where the early withdrawal request was made and Panamoney's response: "To request an early withdrawal, you should e-mail to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it providing your name, login name, e-mail and attach your ID document for verification." The e-mail they did show me that requested the early withdrawal did not contain this information and they processed the request anyway! You can see how this would be a security measure and would have again stopped the whole process but Panamoney did not even follow their own procedures! Thereby allowing Panamoney to get all the profits my investment had accumulated. My advice for all Panamoney investors (especially those in profit) would be: 1) Immediately request that the early withdrawal request option be taken off your account! ( I had no idea they would honor this request after you were in profit. It only gives them a legal way of confiscating your money.) If they cannot or will not do this, you need to check your account 2-3x/day and pray nothing happens to it on a weekend.) 2) Check your 'Edit History' page daily. You can see if any changes were made from there. 3) Check you 'Log In History' page daily. You can see if someone has logged in other than you by the IP address. 4) Check in 'Submit a Ticket' page daily to see if anyone is corresponding with support other than you. 5) Request that if any change is made to your e-mail address information on your account, that Panamoney contacts you through your original e-mail address to verify that it is you before they allow it to be changed. And that any changes be verifed with ID document. (They changed the letter 'l' in my e-mail address to the number '1' so I could not get access to my account or get Panamoney's correspondence. It is evidently a valid e-mail address, just not mine.) Regardless of who did this, Panamoney ended up with all my money and they don't see anything wrong with this. I wish the best for you all and hope this may help save someone else from going through the devastation this has caused us. (I copied all my account information before Panamoney closed my account so that any of the above information can be verified. I feel I have done all I can at this time and if Panamoey should see how wrong it is to take someone's money through fraud and corrects this, I will be sure to let you know.) Since posting this on various forums, I have found others that this has also happened to. Tuesday, 06 April 2010 Written by Denis Drapeau from Canada I Have been to the website and does look very professional,I have rated only one star so far because I am doing research on Panamoney Technologies inc.Before I invest in such companies,I must see true testimonials and results from the company which don't appear on the website.It is hard to communicate the company by phone from Canada but they answer quickly via email. Does anyone have testimonials or results to show ? As anyone thoroughly investigated the company? I know of other Forex company in Panama which people have lost all there investment(thousands)because it was shut down without notice and had no way of recuperating because of bondage to Panamanian laws.Also,how easy and secure it is to transfer your profits must be verified. The interest return proposed (2.8%/daily max) can be extremely tempting but the risk is huge. People must know that there is always a risk with forex trading anyway regarding with which company you do business.Having knowledge about forex trading is certainly a +.A great advantage I see here is the use of software (robots)that can be parametered by experienced techs which Panamoney claim since they are the creators of these softwares.I believe this brings low risks of lost and high ROI.Also helps eleminate the risk of human errors. I see that Panamoney has not yet commented or given any response to this forum, WHY? If they are serious and as transparent as some people claim in this forum then Panamoney would have a great advantage to do so if they have nothing to hide.Quite simple. I have been to other forums and professionals,even though they say they are not financial advisors seem to claim about a possible scam,but not 100% certain,they say to be extremely careful and raise a red flag around this,I completely agree I will personally fly to Panama to terminate my thoroughl investigation and be back to this forum in July 2010 to re-rate Panamoney Technologies inc to it's just and honest value.I do give the benefit of the doubt that they claim to be who they are,do what they do and are real. Wednesday, 03 February 2010 Written by Mattson from USA I opened an account with PanaMoney a couple months ago. Thinks appear well but I have to leave my money for 180 days before making any withdrawals. Sunday, 29 November 2009 Written by oidunno from Spain   -  View all my reviews  - Top 50 Reviewer Been to the site and can find no audited record of performance.. please advise how this consistent with claims of complete public transparency in your introductory review. Saturday, 07 November 2009 Written by Karl from Germany I would like to rate this company with 5 stars as it's an example how a real managed forex company should look like. Their trading perfomance is transparent and can be viewed in real time in my panamoney.net account. The company acts in accordance with the agreement I concluded with them. In January 2009 I invested 20k USD and already returned my investment with profit wich I withdrew every month. On average I earned 1-1.3% after each trading day. What can be improved? I wish their customer support work 24 hours a day but they available only within business hours Panama time. I live in Germany and I always have to plan my time to contact them Saturday, 18 April 2009 Written by Steven Abramson from USA Almost a year ago a registered and duly licensed Panamanian company, PanaMoney Technologies, Inc. (www.PanaMoney.net), has introduced its services to public. PanaMoney offers its clients to open managed Forex accounts and invest in Forex. The company has developed its own unique trading system combining the advantages of automated Forex trading with all relevant math analysis calculations and trading strategies which had been tested by company’s professionals for many years. But it is its transparency that makes this company cut above the rest. Once registered, every client gets an exclusive opportunity to watch PanaMoney Forex trading sessions in real time: price dynamics of every of the four currency pairs the company trades with and company’s gains and losses at the course of daily trades. At the end of the trading day the final outcome of the trading session can be found in Trading History, where all company’s profits for every trading day are open to its clients. The company’s original features in managed Forex trading also include the possibility of the client to choose the currency pair to trade. As client’s profit depends on amount of his/her investment and the result of company’s trades, it is the client decision what currency pair the investment will be traded with allowing gaining more in one currency than in another. There is also an outstanding option for reinvesting or increasing the invested amount. It is the combining of current several investment plans into one. The company allows no compounding but the daily profits can be accumulated on the client’s account and invested into a new investment plan that can further be combined with the initial investment for bigger profits. These two features give investors freedom in making trading decisions and developing their own investment strategies. PanaMoney’s website is as well unique in its professionalism, easy-to-use client interface and client-oriented approach. In particular, the company’s Customer Support and management can be contacted by e-mail, contact form on the website, live chat or by submitting tickets directly from the client’s account. In this way, PanaMoney sets a new standard for managed Forex companies to open up their profits, show the course of trading to their investors and allow them to take investment decisions that can influence their gains.