MeccaFunds is a self proclaimed leading hotel fund sharing company. They are said to have links with the hotel chains which enables them to get cheaper accommodation which later can be sold with a reasonable profit margin.
Their website is fairly straightforward and appears trustworthy to the untrained eyes. While we thoroughly went through all the information and narration put up by on this sleazy platform, we were convinced that we are looking at a HYIP scam.
Go through our unbiased review which will show you why you should never fall for the hype created by these fraudsters.
Company and Contact Details
Any company which provides financial services, regardless of which specific industry they are in have to hold certain legal documents failing which they are considered to be violators of law.
MeccaFunds represents an ICO wherein funds are collected from general public in order to buy wholesale contracts of hotel rooms which falls under the category of investment and they promise investors certain returns on their capital in the near future.
When we were trying to determine if this firm really had the clearance to conduct this type of activities, we couldn’t find any paperwork they should lawfully possess. We have confirmed through FCA this firm has never been licensed thereby operating illegally.
This platform has put up a registration document of some sort on but rest assured they have no right to invest on behalf of anyone. Here are the contact details of this firm:
Address – MeccaFunds, Vicarage House, 58-60 Kensington Church St, London W8 4DB, United Kingdom.
Email – email@example.com
How does MeccaFunds Work?
This firm has shown the tourism statistics and hotel expenditures made by the masses particularly in Mecca. They state that they have long term of relationship with many hotels and they can get a room with a discounted rate of 50% to 60% which can be later alloted for someone else for a full premium.
This narration is just a fairy tale. Any industry has a potential for profit that is why people work but that does not mean you can make money instantly and pocket more than 40% each day which is not sustainable either way.
The logic fail in their explanation is why would any hotel let anyone else make money from their property instead of keeping 100% revenue to themselves. Seems like the creativity level of these fraudsters are going down.
There are a total of 14 investment plans advertised by this firm. Usually in order to get more returns in any sector investors have to wait for long but with this platform the more money you put in, the higher returns you get within a very short amount of time which is frankly absurd.
These characteristics resemble to that of a ponzi scheme and it is something you do not want to tangle your money with. Take a look at some of their popular packages:
Returns – 115%
Period – 1 Day
Min. Deposit – $100
Returns – 140%
Period – 1 Day
Min. Deposit – $1,000
Returns – 180%
Period – 1 Day
Min. Deposit – $1,500
Returns – 300%
Period – 1 Day
Min. Deposit – $2,000
The revenue a ponzi scheme makes depends upon their ability to find new participants for their scheme. This firm encourages individuals to promote their platform and pays certain amount of money for every investor they bring in.
The commission rate ranges from 3% to 5%. The affiliates are handed some custom promotional tools to help them get more conversions. As usual the affiliates are not required to be an active investor or participant of the scheme.
This website ranks 64,462 in Iran and has a global rank of 907,546 according to the data provided by alexa.com. The main regions this country seems to be targeting are Iran, Taiwan, India and Russia.
According to whois.com this domain was registered on 11/04/2016 and it expires on 11/04/2019.
Deposit and Withdrawals
The minimum spend is $10 and the minimum payout amount is $0.10. The e-currencies supported by this platform are PerfectMoney, Payeer, Visa, MasterCard and Bitcoin.
We do not know if there are any fees associated with the transactions. The withdrawals are said to be processed instantly.
Is MeccaFunds Scam or Legit?
This firm is a fraud and there is no doubts about it.
Their business model is a perfect example for a ponzi scheme. They basically rotate the cash which means they use funds brought in by new investors to pay the old investors and keep a little share for themselves.
As you can clearly see this scheme will collapse very quickly and when it does it is going to hurt a lot of investors financially. Earning money is simple but not easy and definitely cannot be done without skills.
MeccaFunds Review Conclusion
MeccaFunds is just a HYIP scam which are being endorsed by many monitoring sites out there but know that it is impossible to achieve 300% returns in any business. Think for a second if they were truly capable of doing something like that, why are they reluctant to show any payment proof?
Also they are completely unregulated and unreliable. The support team becomes non-existent once you send your money and to conclude our best suggestion for you is to stay away from them.