I don’t remember where exactly I found Milbay Finance, but I think some of this blog readers were also considering it. Milbay Finance is Urugway based company which offers forex trading thru North Finance and also passive investment schemes. As usual I’ll bother you with the latter offers only:
Managed Forex Accounts
Their minimum is only $5,000, the performance fee is 33% and if you wish to open an account, you need to do it with MT4 platform based broker firm.
The performance is not earth shattering, but good and stable – 45% for 2007. Given how dramatically the more aggressive managed account services can lose your money in hours, this is a very attractive opportunity in my opinion.
Pooled Forex Fund
If $5,000 is too much for you, you can join their pooled funds whose minimum is just $1,000. The pooled funds are traded in the same way, but the performance fee is 25% only. Sounds great, but you don’t have the same control over your money like in a managed account.
I would never (never again, as I have done it in the past) invest serious money in a pooled fund managed by some strangers, but that’s just me. (Don’t know why? Check out the Scams section on HYWD, it has plenty of horror stories about such “investing”).
So ignoring the pool option, I am considering their managed account service. Right now GalleonFX and FX Street performance is so poor, so we really need something new.
And as usual, I am open to your suggestions via comments.