PanaMoney Interview
Q: Dear Mr. Montero, your investment project today is so popular that our readers would like to hear more about it not just from bare news reports but right from you. First, tell us please how have you started a year? Are there any drops in overturns on the score of the world crisis?
Fernando Montero: First of all, I’d like to say hello to your readers and introduce myself, I’m Fernando Montero, Director and President of PanaMoney Technologies, Inc., a Panama company offering managed Forex trading accounts to invest in Forex. We have big plans for this year, as 2008 was the year of our incorporation and our big start. As for now, I can say the beginning of 2009 looks very good in terms of our trading results and the company’s growth potential. We are also looking for various new opportunities to expand our business to the benefit of our clients and the company. Surely, the world crisis leaves nobody behind, but all it requires from our company is to work harder on improvements made into our automated trading system and keep closer look at the changing currency market situation.
Q: 2008 took away millions of dollars frozen on thousands of accounts customers had with payment systems across the globe. Don’t you feel that such situation emptied the market having reduced the volume of investments made through electronic payment processor against the ones made via such payment systems like MasterCard, Visa, American Express or the deposits made by bank wire?
F.M: I think it is for good when, for example, weak companies vanish; it is supposed to be this way in any market, but it is a shame when their disappearance for any reason affects ordinary customers and merchants. In my opinion, this situation has resulted in customers being more cautious in doing any business with electronic payment processors, but I don’t think it anyhow emptied the market, because today’s world is hard to imagine without instant payments made with electronic currencies. Credit cards can also bear some risks in their electronic use and bank wire can be rather time costly. Anyway, our company decided to provide various funding options to its clients, including electronic currencies and direct bank transfers. I should also say, that were not dependant on the payment processors we accept. They are just the payment methods to make the payment transactions easier and in case of any problems with any e-currency, we can switch our clients to others and continue the settlements.
Q: Tell us about your business, who works in your team?
F.M: PanaMoney Technologies, Inc. is a managed Forex trading company incorporated to provide our clients with the opportunity to experience managed Forex trading with our automated trading system, specially developed to use short-term low-risk strategies that can bring the best possible trading results. Our team includes international staff (in total 23 employees) experienced in various business fields. Most of the employees are engaged in managing, maintenance and technical support of our automated trading system, as it is the core element of our business.
I, personally, hired the people known for their professionalism in relevant spheres, such as Allen Flank, Marketing; Antonio Rodriguez, Finance; Manuel Franz, Technical and Software, etc.
Q: What are the main priorities in the game? What is your forecast regarding dollar? Don’t you think that an immense foreign debt of the U.S., financial crisis and the shaken faith in the President Bush brought dollar to the brink of an abyss where anyone can easily fall?
F.M: If you mean our Forex trading priorities, it is obviously to achieve better trading results. I also believe that dollar will remain a principal currency for international transactions and, in our case it is an important factor for continuing trading this currency. As Forex traders we are not as much influenced by any financial crisis as we don’t invest into securities or other financial instruments and not as much affected by political will of some person, however national currency policies regulating the markets can influence the currencies rates and making Forex less predictable, nevertheless, big currency fluctuations can bring the most winning outcomes, if right trading decisions are made on time.
Q: Tell us about your investment products. Which of them is most popular?
F.M: We offer investing into foreign currency exchange market. The investors can choose from 8 investment plans we offer, they are classified by the amount of investment:
Trial: 30-49 USD for 16 trading days with 0.5% maximum daily interest;
Beginner: 50-99 USD for 100 trading days with 1% maximum daily interest;
Standard: 100-999 USD for 180 trading days with 1.3% maximum daily interest;
Intermediate: 1,000-4,999 USD for 180 trading days with 1.6% maximum daily interest;
Advanced: 5,000-9,999 USD for 180 trading days with 1.9% maximum daily interest;
Professional: 10,000-14,999 USD for 180 trading days with 2.2% maximum daily interest;
Expert: 15,000-19,999 USD for 180 trading days with 2.5% maximum daily interest;
VIP: 20,000 USD or more for 180 trading days with 2.8% maximum daily interest.
The daily profits are also dependant on our trading performance. It means, the actual profit is based on our trading results for the currency pair the client’s investment is traded with and the client’s investment plan. It is hard to tell which is the most popular plan, because many clients start with a moderate investment and then increase using the option for combining the investment plans opened.
Q: How did you manage to gain confidence of your customers and just common Internet users who have already got used to online fraud?
F.M: I think the key issue here is the openness, transparency and honesty. We are completely transparent with our clients: all transactions can be easily monitored; all trading sessions are available on our website real time; company’s documents of incorporation and business license are free for download; all company’s daily profits for all currency pairs are automatically posted. We are also open to any questions from our clients and to any public research of our company.
Q: Security is a top issue today. PayPal has a strict control over its merchants to escape involvement in investment industry. Many people find it absurd as long as today is the XXI century, a century of digital technologies and customers want to make investments through the Internet without going to the offices investment funds. How do you think who will survive within the following 5 years – new technologies and worldwide acceptance of e-currencies with prejudice to privacy and confidentiality or a total verification of users with the prejudice to investment business?
F.M: It is hard to make any predictions, but, in my opinion, Internet was created as free environment for sharing information, knowledge and it is obvious that now it has expanded to different products and services, including investment business. One cannot disregard or totally eliminate some type of activity from the Internet and I don’t think it will ever be possible. Nobody, however, excludes privacy and confidentiality issues. There should be a balance found, and our company stands on the principals of strict privacy and confidentiality policies on one hand, and on the other, we require certain validation procedure in case of bank transfer transactions, for example. So I think it is for a service provider to decide what verification or privacy policies to apply while the variety of options for online users to choose from is unharmed.
Q: Could you tell us please, when you play on Forex does the capital invested by the customers makes 100% of your portfolio 100%, or it is just a part that works as an addition to your business on Forex? In other words do you operate only your customers’ money or do you invest your own funds as well?
F.M: We trade our clients’ funds as well as our own. It allows our company to have a stable back-up in different situations, as our trading provides the continuous growth of company’s assets. Besides, we also have a Safety Fund to cover possible trading losses in case of negative trading. It makes our client’s investment safe and unharmed during the whole investment period.
Q: Is there anything special you can offer? Something that your competitors cannot provide? Most readers including me, though I am a reporter, after reading the interview will think many times before they making a decision to become your customer. And if you position yourself as a market leader tell us please why after reading your interview people should open an account with your service and invest into your Forex business?
F.M: There are many things that make us different from Forex trading platforms and other managed Forex trading companies. We don’t charge any fees and have the guarantee of no trading loss, which ensures the safety of client’s investment regardless of our trading performance. The considerable advantages include the possibility to see our trading sessions in real time with all profits and losses during the trading session, as well as the final outcome of the trading session on Trading History page. We also provide various options for our clients to take their investment decisions, such as the selection of the currency pair to trade, trading with multiple investment plans opened within one account, combining of investment plans into one. All these features are unique and together with our efficient automated trading system make our company unique in its kind.
Q: DDoS attacks became the plague of the 21st century. According to the information provided on your site PanaMoney.net has a reliable protection. But all of us know that even the most qualified security systems can be broken under attacks of violators and if such situation happens for customers time turns into an agonizing wait. What can you tell your customers in case your site will become unavailable? Where do they have to appeal to first of all?
F.M: Yes, the protection we have is able to mitigate any volume of DDoS attacks and along with other security measures make our website secure. I also understand that anything is possible, but there is nothing for our client’s to worry about when our website is unavailable for some time. The servers our trading system is located on are absolutely independent from our website and cannot be attacked. So our trading activity is not anyhow affected by our website’s unavailability. All processes of daily interest accrual are also independent. Any time, our clients can contact us by e-mail and using our contact details we provide on Contact Us page. All contact details are also stated in our official documents of incorporation and business license.
Q: After publication of article describing PanaMoney service in details in one of the issues of the Ecommerce Journal the editorial started receiving letters from the readers asking to tell more about PanaMoney. Surely, our main goal is to satisfy our readers but we admit that things cannot be perfect every time. People don’t like hackneyed phrases of companies saying that everything is all right with them. But in our view PanaMoney is a company that since its interception has been honest with all Internet users. Thereby, we ask you to tell us about your problems, as long as we think you have them as well. What troubled you during the last month?
F.M: Keeping in mind your previous questions, I can admit that the main issue for our company now is to keep working on adjusting and maintaining of our automated trading system. The instability of all currencies and hardly predictable situation enforced by various non-market regulation measures taken by governments require our team to pay special attention to our system’s settings adjusting it more than usual. As the system is controlled by our employees 24 hours a day, it puts extra burden on them, but it is all done in the best interests of our company and our clients. As we have big plans for development, including diversifying our business, organizing a Call Center and others, we are now working hard on implementing these company agenda.
Q: Well, in the end we would like to know your plans for the future? Will you launch any new investment products and what will you offer to the Internet users to satisfy them except your proved stability?
F.M: I have mentioned some of our plans, such as expanding the scope of our activities. For example, our business license allows us trading precious metals and issuing debit cards. These are the company’s plans that require much efforts and time. For example, additional types of trading activity will require their own trading system, we are now designing. We are also conducting all necessary negotiations. All our plans are aimed at improving our stable development and providing additional investment opportunities to our clients.
from Ecommerce Journal
