NSFG Update

Great news for NSFG. I understand they are now over 5% up so we have a guaranteed minimum of 5% for September, Great stuff guys.

MegaInvestForum update

Well, I just logged onto the trading account and was disapointed to see things have gone from bad to worse. It was not long ago there was a major problem with the Expert Advisor which resulted in around a $20k loss on the fund. As I said in an earlier post the administator of the program added $15k of his own funds. The reserves covered the rest of the losses to make August a break even month. The present situation is they are around 30% down for the month. This really does outline that most traders and most strategies do not make money in forex and it is very important to see at least six months worth of LIVE results (preferably at one brokerage) prior to considering it as an investment. If this is not done, it is in effect more or less gambling, also it becomes a apparent that many months of back testing and demo account trading is of limited use. This is possibly the most important part when performing due diligence on an online forex opportunity. ID documents, proof of trading (with no history and risk assessment) etc are of minimal use when the trader loses your money. Marcos at FXExperts was full of praise for MegaInvestforum at the beginning but his future opinions should be treated with extreme cautious as the current state of both FXE and MIF is rather precarious. I am now very glad I did not join this opportunity and believe I was right to be suspicious. I hope the people who have joined don't end up losing too much money.

FX-Experts - Oh dear!

Dear Members,

After reading this letter, I am sure all my clients are going to be upset, because they all trusted in our potential, but I also can say that a few people will be “happy” and they will say in the blogs and forums: “I said that it would happen”.

What I have to say today, is not that we are closing the company, but that we had a huge lost in the last days.

We will have to change some points so we can get back what we lost without worrying about the weekly profit. We are also changing the broker so we can give you a better service.

We are going to change those points:
- the daily profit is going to be zero;
- we will not accept withdraws;
- we will not accept deposits;

The company asks you to not worry about the situation, our website will be online and we are going to be here working, trying to help you in the best way.

I am sure that most of our clients rely on our service and will understand why we had to change those points. After everything is all right, we will update you, as we always did.

We hope to return to our normal activities in a few weeks.

We are doing everything to provide you a better service.

Thank you,

Marcos Matos.

Unfortunately I expected this to happen before the end of the year, I thought it might make it till november. When you consider they have averaged paying in excess of 13% since inception, you just need to think there is a trader to pay, there is marcos to pay there is the support overhead, there are the egold fees, there is the webhosting costs, site mantainence, the referral scheme etc etc. When you consider all these factors a much much greater return than 13% per month is required to sustain the program and pay those concerned, so a very risky trading strategy is/was probably employed. I have seen it over and over, the risk kills them in the end. It was for this reason I would never put serious money into the program. I really hope FXE recovers, it is one of the few real programs out there with no previous nonsense when it comes to paying. I did hear the trading was going badly a few weeks ago and pulled out for a 60% profit overall. Good luck FXE, I hope you guys can pull it off.