Some changes to My Programs List
Posted by rabbit on February 12th, 2006
I have now added a section called “Programs On Hold”. Programs that are listed under this category are still alive, but have problems.
I have added FX-Experts to my favourites list. I now feel comfortable enough about the program to add it as one of my favourite. I chat to the admin Marcos on a regular basis and have access to their trading account at North Finance which I can audit at any time. Thus, I am confident that this program is backed by real forex trading and is not a ponzi. This being said, it is always prudent to get your principal out whenever you can. This should be applied to ALL programs regardless how secure one think they are.
Some may ask: so when should I withdraw my principal? My personal rule of thumb for these “safer” programs is to withdraw prinicipal after it has been doubled. For programs like NSFG, MPDW and FX-Experts, the principal should get doubled in about 6 months or so if compounded.
I have downgraded MPDW from a Tier One to a Tier Two program. I still like the program. In fact, it is still part of my favourites list. I am also still compounding my returns and have not yet done a withdrawal.
I feel that the admins did not do a good job in addressing the controversies that erupted a few weeks back. I also feel that they should get audited by a third party if they do not wish to show their investors proof of trading. As some of you guys know, I am a big fan of proof of investing / trading.
February 18th, 2006 at 4:23 pm [ Quote ]
Could you please give us some insight and details as to what your audit of FX-experts has revealed?
TKS multipath
February 19th, 2006 at 3:46 pm [ Quote ]
Well based on what I see they are:
1. Doing real trading with the funds being deposited. I saw several transactions to and from their egold account, I also see that trading is being done.
2. From what I can see they are making much more money in their trading that they are giving out in interest. So they probably have a large reserve fund to cover any losing weeks / months that they encounter. Hope that helps.