Northsea Forex Group (NSFG)

Update (28/03/06): Pooled account closes doors to new members.

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Update : Pooled accounts will be closed on the 25th of March. This is a planned moved since the program was started. There is a limit to the number of accounts the adminstrators can handle and they feel that it's near their threshhold. So if you're interested in getting in, this is the time.

Managed accounts will not be affected by this new development.

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It's ironic that I'm primarily an autosurfer yet the first program I'm going to post on my blog is a pooled forex fund.

Northsea Forex Group (NSFG) is probably one of the most transparent pooled funds I've ever come across. The amount of information provided by the gentlemen who run this, Paul and Kenneth, is absolutely astounding. From telephone numbers to addresses to scanned passports (yes I have seen all these particulars). In the forums where they post, there have been reports of people actually meeting them. For security purposes I'll not divulge any particulars here. These particulars are made available when you join.

NSFG runs two types of funds, the managed fund and the pooled fund. The managed fund has a minimum entry of 25000. The details can be found here.

I'll concentrate on it's pooled funds, since it's the one I can afford at the moment. Minimum entry is $100 and deposits have to be made before the 25th of the month to enter into the trading period of the following month. Additional deposits can be made at $50. The payment processors accepted here are E-gold, Ebullion and EMO

On months where there is overall profits, the administrators will take 25% of the profits as a performance fee while investors will get 75% returns. A monthly statement is sent, usually in the beginning of the month. Withdrawals must be made before the 15th of the month, and should be processed by the 25th. Any amount not withdrawn is automatically compounded.

So far the program has been averaging around 17% a month since it started Sept. I'll try to bear in mind to update this page in future months. Here's the past performance:

Sep 05 = 17.70%(Net)/23.61%(Gross)
Oct 05 = 10.49%(Net)/10.49%(Gross) No fee due to change in broker
Nov 05 = 32.01%(Net)/42.68%(Gross)
Dec 05 = 8.73%(Net)/8.73%(Gross) No fee due to Christmas
Jan 06 = 15.81%(Net)/21.08(Gross)
Feb 06 = 5.11%(Net)/5.11%(Gross) No fee due to poor performance
Mar 06 = 3.06%(Net)/ 4.08%(Gross)
Apr 06 = 0%
May 06 = -2.8%
Jun 06 = 3.63%(Net)/3.63%(Gross)
Jul 06 = 2.41%(Net)/3.21%(Gross)
Aug 06 = 3.75%(Net)/5%(Gross)
Sept 06 = 3.75%(Net)/5%(Gross)

Personally I'm very confident of this program and should be looking to enter their managed funds before 2006 is over.

As for how to join the pooled fund, send a blank email to info@ns-fg.com. You will receive an application form and a set of instructions.

Hope you'll enjoy the experience with this program as I have.