Open Deposit Review – Is this site legit or a scam?
- Name: Open Deposit
- Website: opendeposit.com
- Rating: 1/10 (Unrealistic returns, very little information, and too much promotion = probable SCAM)
Open Deposit is an investment website that claims to produce very high returns. After just 1 hour they say you can expect a 152% return, and after 7 hours that number goes to 236%. Thats crazy, over double your money in just 7 hours? Can this place possibly be real?
It definitely seems like a scam but I can’t conclude this just by my first impression. So I did some more research to see if this place can be trusted. In this Open Deposit review I’ll be going over some things you need to know.
The only problem is…
There Is Barely Any Information On This Company
On the homepage you can scroll down and get to the “welcome” section. Here they tell you a little bit about themselves.
What exactly is Open Deposit?
They are a management team of calculated thinkers that have large and “super” investment strategies. They invest in the foreign currency field, which is definitely a good way to invest if you know what you are doing.
But thats all they tell you! They spice it up a bit saying that their mission is to meet all your financial investment goals and things like that, but they don’t say much.
Basically all you need to know is that they say they are an investment management team that invests in the field of foreign currency.
After reading this little section on what Open Deposit is all about you will find information about their affiliate program. Of course.
They offer 3.5% commissions which could turn into a lot of money depending on how much your referrals are investing.
But the problem I have with this is that you don’t know anything about this place. I just read a very vague “about” section and now I’m supposed to start referring people.
Literally 1/3 of their homepage is about referring other people to come and invest their money.
Not Much To See
If you go to their main menu at the top you will see their Rules, Questions, Banners, Rate Us, and Contacts.
Once again, no good information. Here are the sections broken down.
- Rules – Goes over the agreements you must understand to take part in their investment services. Take note that on this page they state that “We are not FDIC insured. We are not a licensed bank or a security firm.”
- Questions – Here is a list of FAQ’s that are very general. You won’t learn anything of value here.
- Banners – Here is a bunch of banners that you are supposed to use to promote this website. Even though you don’t know what the heck they do and how they do it.
- Rate Us – They want people to write good things so that they grow in popularity. They list different sites that you can rate them on. All of the sites that I visited are very suspicious and had ads popping up all over for other similar investment programs.
- Contact – Of course here you fill out a contact form.
As you can see there is nothing more to learn about this place. You know that they claim to be an investment management team that invests in the foreign currency field.
Almost half the entire website has to do with the affiliate program and promoting this website. This gives me reasonable suspicion that this is very likely a scam.
What Is Open Deposit Really?
They are a high-yield investment program (HYIP). And what is this.
Well its likely a form of Ponzi scheme, which is illegal by the way. Take a look at the absolutely insanely high returns that they show on the website. 340% return on your investment after just 18 hours, are you kidding me?
These returns are absolutely unrealistic for the real foreign currency investment market. They are unsustainable and are fake.
The only explanation is that this is a scam. And a Ponzi scheme is the most likely.
In a Ponzi scheme previous investors are given money from new investors. So really it is just a big transfer of money. They say that they are investing your money and you are actually getting your returns from the market prices, but really you are just getting money from the incoming investors.
But once again, I have no proof of this. Its the only realistic explanation though. We don’t live in a fantasy land. You aren’t going to get returns like this place says you will in the real world.
My Final Thoughts on Open Deposit
Let me just reiterate my main points here. This place provide VERY little information on what they do and how they do it, much of their site is dedicated to getting people to promote and refer other investors, and they show ridiculously unrealistic returns on investments.
Everything that I see just screams SCAM.
But can you make money one this site?
In Ponzi schemes there are people who make money. These are the guys that are high up on the scheme. But most people lose money in this situation.