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| Megainvforum Due Diligence |
| Monday, July 24, 2006 |
This is new to come into the scene but seems like it has been well received. To register go to http://www.megainvforum.net/ .
To quote from the forum,"Deposits can only be made via E-Gold. The minimum deposit for a new member is $100. You can deposit any amount after the initial deposit. You will start to earn profits on the following month after deposits or aditional deposits. The last day to deposit to receive profits on the following month is the 25th day of each month."
"Returns will be posted on the last day of every month. A report will be generated and and posted in this forums. The administration fee wil be 20% of profits each month. Another 10% of the monthly return will be put into a reserve fund (this reserve will be traded). No administrative fees will be deducted if there are no returns for the month."
"The withdrawal request must be made within the first 3 days of the month for payment the 4th to the 7th of the month. You can withdraw the profit of the previous month without a fee."
"A 20% admin fee will be assessed to all withdrawals. This fee will be reduced to 10% after 90 days. The reserve fee will always be 10%. A balance of $100 must be maintained in the account at all times. However, a member can withdraw the entire balance at any time if he or she wishes. Remember that there is a fee of 10% to 20% when all or part of the principal is withdrawn."
Best part of all, you can actually have access to their trading account for one week. Here are the details:
Login: 17497
Password: one week
Server: NorthFinance-Real
You can download the platform here: http://www.northfinance.com/files/MetaTrader/mt4setup.exe
" Our monthly goal in terms of returns are 5% to 20% monthly(trading forex only). "
Okay sounds to me quite reasonable but even then we still need to look at some DD. Jude from nobs blog has made an interview here: http://hyipblog.nobshyip.net/2006/07/14/interview-with-jose-gomes-megainvforum/
Okay so how this work is that you will do everything on email just like NSFG some of you who are in it should know. They have also updated their statements and results:
"June, 1st = $12,000.00
June, 30 = $13,312.87
Profits = $1,312.87
Performance = 10.94%
Performance - Fees = 7.66%
Admin fees = $0.00 (donated to reserves)
Reserves = $363.84
Total reserves = $393.86
Members profit = $919.01
Withdrawals = $0.00
Reinvestments = $919.01
New deposits = $15.100.00
Members amount at July 1st = $28.019,01
Amount traded at July 1st = $28,412.87 "
http://www.megainvforum.net/2006/june.htm
Well, 7.66% is not impressive to me and I am wondering if a lot of people join megainv they would probably have a lot of work to do. But then again program like NSFG which is very transparent (private) did not do well hitting low % in the past months. However, I shall monitor this program. If too many people are joining this program it may head to private. For now I am happy with programs like udachuinvest which promises double digits monthly and FX-experts is doing well with weekly compounding.
From Jude's interview, it seems that Marcos the admin of FX-expert is helping up with the admin of megainv which may add more credibility to this program.Also DD documents are given to Jude. Looks like there is not much of scam going on here so it is the performance of this program that would determine whether we will really want to join. Seems like he will only close the door to members when 2 or 3 millions are traded.
A very good DD of megainv forum can be found on:
http://www.etalkmoney.com/investment-programs/investment-due-dilligence/megainvforum-interview-and-due-diligence/
Overall, I am impressed with this program and can say it is REAL investment program but I would want to look at performance in trading for first few months.
That's all for the day. Hope you find these infomation useful. |
posted by Lazyman @ 10:32 AM   |
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