Nsfg on Page 4 at Nobullshit Network Forum

sofaking · 08-13-2007, 11:32 AM

any news? did anyone receive a trading statement for July?

**Jude** · 08-13-2007, 11:57 PM

There's some update on GH i think, about NSFG's host screwing up. I'll try to find it and update here.

Optional · 08-14-2007, 06:18 AM

this is part of a message from last Thursday

Quote:

the Hosting Server went down, been down a few days no site, and no
incoming or outgoing email using the domain...I can't send any emails
through the statement programme as it is linked into this.

Spoken with Support though and it will hopefully be up and running ASAP.

As soon as it is I will buzz an email out to you guys.

sofaking · 08-15-2007, 11:20 AM

thanks for the info, folks. please let us know if you hear any more news..

Optional · 08-16-2007, 03:38 AM

they sent an update today... more of the same.

basically bugger-all and wait a few more months again, if you are in the pool.

sofaking · 08-16-2007, 11:54 AM

yes, apparently they are "restructuring" and plan to cease all financial activity for Northsea Forex Group that involves the Pool Account.

I wonder are we able to withdraw our remaining funds from the pool at this time... I'm OUT....

Simon · 08-18-2007, 12:05 AM

Quote:

Originally Posted by sofaking

I wonder are we able to withdraw our remaining funds from the pool at this time... I'm OUT....

Not much left to be out of anymore.

Optional · 08-18-2007, 01:29 AM

Quote:

Originally Posted by sofaking

I wonder are we able to withdraw our remaining funds from the pool at this time... I'm OUT....

I'd like to know what Paul says if you ask for a withdraw Sofaking... if he says you will have to wait months for this "legitimization process" I'd say that is some proof they are stalling us and probably lying yet again.

grateful · 08-18-2007, 01:47 AM

This is the last information sent from Paul:

Quote:

From: Paul - NSFG

Sent: Wednesday, August 15, 2007 9:35 PM
Subject: NSFG - Update

Hi There Everyone,

I am so sorry for not getting back to you guys sooner than this!!

We have open positions running and I was giving them the first week in
August to close so I could account for them....after it became apparent that
they would run for longer I was going to update you all last week.

However as some of you may have noticed our Hosting company went down,
taking the site and email along with it!!!

After yelling at them it was clear that we seemed to be hitting a brick wall
there so Ken and I decided to get a New Domain: Northsea Forex Group Ltd | NSFG
and have just got that up and running.

The dot com domain will be transferred over shortly, but at the moment both
Ken and I are using the dot eu domain for emails.

Okay, right well because the Open positions are currently still running I
have to report the July position as Flat, which mean no gain or loss on
account but we are confident that this will ultimately prove very positive
when they close. However we can not say with any certainty when this is
going to be closed as it totally depends on market conditions.

With this in mind Ken and I have decided to take a step that we have been
planning on taking for a while now, and just needed the right time, due to
the current situation now is a good a time as any.

Northsea Forex Group Ltd wants to become a more mainstream trading fund and to do that we need to step out of the grey area and move into the
professional arena and due to the current political climate need to protect
both us and yourselves from any potential problems that may occur. The
problem that we have is the Pool Account plain and simple. Under current
regulations we are required to "know our clients", this means that a full
compliance check is done on each of them......if you know any Managed
Account Holders then you will know this can be a lengthy process. Currently
we don't actually know any of you, at least not to a satisfactory level
required by law. We can not undertake the same process that a Managed
Account client goes through for each of you....it would take an age.

Obviously this is not an option for the pool members, and we have no
intention of closing the pool down or anything. What we are doing however is
a restructuring behind the scenes which will most likely result in the Pool
being licensed to a third party who will then become a client in their own
right as well as complying with all sorts of regulations and tax issues. You
guys will probably not even notice anything has changed to be honest.

The downside of this is that it might take a while for us to get everything
sorted. After taking advice from various sources we have started this
process, as not only will it make it better for everyone in the long run, it
will also mean that we will avoid any such problems that occurred at the
start of last year which would be bad obviously!!

While we are going to be undertaking this we are going to have to cease all
financial activity for Northsea Forex Group that involves the Pool Account,
this includes trading, while this happens. This does not include the current
open positions which were made prior to this undertaking. I warn you now
that this will probably take a few months to get sorted. It is something
that really does have to be done, and as we are locked with the open
positions anyway now is the best time to do it.

We do apologise in advance for the inconvenience this may cause.

In regards to the July Statements, they will probably not come out till the
end of August, as the email programme is coded into the system using the dot
com domain and we will either have to wait for it to resolve over to the new
hosts or if that looks like it will take to long then we will get it recoded
to the new domain.

Again, I apologise for the delay in getting an update out to you guys.
Please also note that if you have sent me an email in the last week or so I
will not, and probably will never get it, if you sent it to the dot com
address.

Have a great week and I hope you enjoy what is left of the Summer!
Paul

... Northsea Forex Group Ltd wants to become a more mainstream trading fund and to do that we need to step out of the grey area and move into the
professional arena and due to the current political climate need to protect
both us and yourselves from any potential problems that may occur.

JoseLeon · 08-18-2007, 05:33 AM

I understand completely what they say and I think that it´s great, although I don´t understand why they must stop making profit to all their investors while they are working with the legalization process.