First of all, let me just say that I know that being kind of eclectic and unpolished is a thing right now. Or has been for a while now, whatever.
It’s cool to look unfinished, out of bed and wear polka dots with rhinestones and sneakers as long as you’re doing it ironically. And while I have to admit that I truly, honestly, cannot stand that in life, it’s surprisingly less annoying in the virtual reality. I don’t know why, maybe it’s the LCD that makes everything look more cute than downright irritating.
It just so happens that I have a new opportunity to test my theory since www.pennystake.com somehow leaves one with the impression of being in the middle of the whole “existing online” process. At least that’s what I figured out since there’s not much to work with here, Penny Stake is definitely one of the more private than open websites.
To start with, a whois search does not give you much. WhoIsGuardProtected and all, what we do learn is that the website was created on 20 Jan 2013 and expires within two years from that date. Usually, that’s when one has to resort to the “About Us” page/section, but – to be honest – Penny Stake’s raises more questions than answers. Want a proof?
Penny Stake is “a private investment company that is managed by Richard Brown, a professional binary option trader” that is “not a legal entity” and the creator frankly “does not expect it to be legal, because unfortunately he does not hold any license from the Security Exchange Commission”.
When the program’s founder asks you do “please invest at your own risk”, it’s never good PR, amigos. Naturally, it’s what we always do. I mean, have you ever invested at somebody else’s risk..? By the way, from what I gather, it’s illegal more often than not, so I hope your answers were “No”, amigos. OK, do you want some more honesty from Penny Stake? Here you go: “we all know where all these investment programs will end up sooner or later, but at least, I'm a true binary option trader and it's an easy thing to do if you are experienced and know what you are doing”. What do you say about that?
As far as the website is concerned, it’s really appealing. The colors, the layout, it all seems fine and nice to look at. I must admit, I don’t understand the photos used on the main page, but maybe that’s just me and there is an obvious link between sneakers, hay, the Colosseum and binary trading. Speaking of which, do you actually know what binary option is? As Penny Stake explains, “a binary option is a type of option where the payoff is either some fixed amount of some asset or nothing at all”. Or just simply use the Wikipedia link they provided: http://en.wikipedia.org/wiki/Binary_option.
Anyway, I rather like the website, but it’s not all that intuitive. By “Portfolio” they mean investment plans, “Partners” is actually the referral program, and both sections include pretty much the same things... It must be said, however, that the “Contact” part is excellent. You’ve got a clearly subdivided ticket option and a well-implemented live chat with a cute message “Have a question? Click to chat live”. What’s more, I’ve checked it four times and each time there was somebody there, waiting to answer my questions, which is almost unheard of. According to its creators, the site “uses a thawthe SSL123 Certificate to offer secure communications by encypting all data to and from the site”. What one can check for oneself is that GlobalSign’s SSL certificate is implemented into the website. Setting up an account is a piece of cake, you don’t even have to remember your own name, your e-mail, country and date of birth will do just fine.
There is not much to write about the plans since, at the moment, there is in fact only one plan to go with: 4% daily for 30 business days, minimum $50, maximum $50,000.00, with no compounding available and no principal returned “as it is already included in your daily interest”. You can add on deposits (minimum $1), but bear in mind that PS handles every transaction separately. Profits are “calculated automatically”, added to your “Cash Balance” every day and can be withdrawn “whenever you want” as long as it’s more than $5, but the process may take up to 24 hours due to the fact that it’s done manually.
Remember that withdrawals are handled Monday to Friday only. Also, you cannot withdraw your investment before maturity because “the interest rates PS offers on investments are based on the expectation that the funds will be with PS for the full term”. What’s rather unorthodox is that Penny Stake offers its affiliate program alongside the investment one, which may be confusing for some newbies. By referring, you may earn 5% commission without investing. Penny Stake cooperates with Solid Trust Pay, Liberty Reserve, Perfect Money and EgoPay.
All in all, amigos, it seems that Penny Stake is as straightforward as possible and you basically get what you see. Also, one may notice that it’s just the very beginning of PS’s road and they are still trying to figure out the logistics, such as where to display which piece of information, etc. So, the true question is: do you like what you see so far? Or, as PS likes to say, “for the time being”?