NorthFinance egold withdraw warning | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Anybody know anyting about northfinance.com broker? 11 replies

Autoclick programs & NorthFinance 2 replies

Aud NorthFinance 29 replies

NOTICE To Northfinance Clients... 28 replies

Cheapest way to fund an egold account? 30 replies

Attachments: NorthFinance egold withdraw warning
Exit Attachments

NorthFinance egold withdraw warning

  • #1
  • First Post: May 17, 2007 6:24am May 17, 2007 6:24am
Northfinance made it hard for me to withdraw my money out.

I funded my NF account via Wire - more than 90% of it via wire and about 10% via egold.

When I filed for bank wire withdrawal, they refuse claiming I already have withdrawn via wire. ??? Then they further explained that I already made a large withdrawal last Feb, which is more than what I have funded my account (via wire), I am no longer eligible to withdraw via wire. ???

WHAT? I just funded my account via wire this April and I cant withdraw that via Wire?
NO!

Cut the story short: They simply want me to withdraw via egold.

That was one hell of a bad experience I felt helpless thinking that NF turned into a scam or something. I dont recommend NorthFinance if you have funded your account via wire and egold as you will be forced to withdraw via egold no matter how small that egold funding is.

I believe NF simply wants to dispose all their excess egold funds that they no longer accept as a funding option. Egold is said to be having a problem with the US Authority - Be carefull with this Broker or any brokers that accepts egold.
  • #2
  • May 17, 2007 6:37am May 17, 2007 6:37am
thank you for the warning. I hope you'll get your money either way.
  • #3
  • May 17, 2007 6:46am May 17, 2007 6:46am
you should never use an offshore broker, stick with what you know, like i told you guys before they can take your money and run when times get hard for them who's gonna stop them.
If I Go Broke Trying Then I Will die happy.
  • #4
  • May 17, 2007 7:05am May 17, 2007 7:05am
They could be playing the role of a decent broker and building up clients and one day they'll be gone with all that money and there not one thing you can do about it.
  • #5
  • May 17, 2007 7:10am May 17, 2007 7:10am
Quoting Moe
you should never use an offshore broker, stick with what you know, like i told you guys before they can take your money and run when times get hard for them who's gonna stop them.
Your warning makes sense but then again remember Refco the biggest U.S. onshore broker of them all and one time reputable firm??? You just never know where the next scam is going to originate from.

P.S: BK, at least you can still withdraw funds if only via e-gold. But I admit, you should be able to choose a wire if you wish. Anyway if you are withdrawing funds, you must be doing well
  • #6
  • May 17, 2007 7:12am May 17, 2007 7:12am
Quoting Moe
you should never use an offshore broker, stick with what you know, like i told you guys before they can take your money and run when times get hard for them who's gonna stop them.
LOL..

All US Brokers are OFFSHORE to me.

And I dont trust the local broker we have here.
  • #7
  • May 17, 2007 7:18am May 17, 2007 7:18am
Quoting PipStar
Your warning makes sense but then again remember Refco the biggest U.S. onshore broker of them all and one time reputable firm??? You just never know where the next scam is going to originate from.
why put yourself at a bigger risk to get ripoff? yes it can happen in the u.s. but the risk is not as big.
If I Go Broke Trying Then I Will die happy.
  • #8
  • May 17, 2007 7:18am May 17, 2007 7:18am
North Finance look like they are trying to work as a Hyip :-/

Egold is a known scammer refuge and they have IRS and FBI eye on them. How come a broker can advice to send fund through them ?
  • #9
  • May 17, 2007 7:22am May 17, 2007 7:22am
if im not mistaken didn't the n.f.a. step in when they saw something fishy going on with forefront investments, at least they save those traders from another refco, who's gonna try to save you when n.f. start acting fishy?
If I Go Broke Trying Then I Will die happy.
  • #10
  • May 17, 2007 7:31am May 17, 2007 7:31am
Quoting melpheos
North Finance look like they are trying to work as a Hyip :-/

Egold is a known scammer refuge and they have IRS and FBI eye on them. How come a broker can advice to send fund through them ?
exactly, you have a broker who want you to send or withdraw your money thru a known fraud company/egold, so they can use the exscuse we don't have your money check with egold, would you send your money with a broker that ask you to send your funds thru a company that has been known to fraud people.
If I Go Broke Trying Then I Will die happy.
  • #11
  • May 17, 2007 8:13am May 17, 2007 8:13am
Quoting Moe
exactly, you have a broker who want you to send or withdraw your money thru a known fraud company/egold, so they can use the exscuse we don't have your money check with egold, would you send your money with a broker that ask you to send your funds thru a company that has been known to fraud people.
Well Egold is not screwing ppl, but this is a known fraudster haven. I wont say that they are fraudster themselves but they definitely help fraudster to do cash cleaning... (while Swiss Bank are known to not do such fraudulent activities... right ? ^^ )
  • #12
  • May 17, 2007 8:15am May 17, 2007 8:15am
Hello BK, sorry to heard about that , i hope this problem will taking care of soon.
BTW BK, if the money is not big, you can withdarw to egold then, convert it to webmoney then wire from webmoney itself, but converting this take some commission, you can refer to maxey for webmoney opening account, some exchanger doing this already.
  • #13
  • May 17, 2007 8:21am May 17, 2007 8:21am
i have too much money to be taking a chance or risk with such a broker, i just want to know why take a chance with such a broker, do anybody know how well finance this company is?
If I Go Broke Trying Then I Will die happy.
  • #14
  • May 17, 2007 9:24am May 17, 2007 9:24am
Quoting Moe
i have too much money to be taking a chance or risk with such a broker, i just want to know why take a chance with such a broker, do anybody know how well finance this company is?
I know that hey are not registered as any kind of finance company with Belize authorities, hehe.
  • #15
  • May 17, 2007 10:38am May 17, 2007 10:38am
instead of traders sticking with the safer brokers they just keep looking for the holy grail of all brokers taking risk with there money, if you have a good system there is no broker that can stop you, there one trader i know have over 80,000 with fxcm and only started with 2k and he swears they or the best broker on earth, bottom line stop looking for that holy grail broker and focus on your trading skill's.
If I Go Broke Trying Then I Will die happy.
  • #16
  • May 17, 2007 8:39pm May 17, 2007 8:39pm
Quoting Moe
instead of traders sticking with the safer brokers they just keep looking for the holy grail of all brokers taking risk with there money, if you have a good system there is no broker that can stop you, there one trader i know have over 80,000 with fxcm and only started with 2k and he swears they or the best broker on earth, bottom line stop looking for that holy grail broker and focus on your trading skill's.

Good point Moe!
Bring It...
  • #17
  • May 18, 2007 2:04am May 18, 2007 2:04am
Quoting Moe
instead of traders sticking with the safer brokers they just keep looking for the holy grail of all brokers taking risk with there money, if you have a good system there is no broker that can stop you, there one trader i know have over 80,000 with fxcm and only started with 2k and he swears they or the best broker on earth, bottom line stop looking for that holy grail broker and focus on your trading skill's.
they have no way to stop you making money, but apparently they have ways to prevent you withdrawing it !!!
  • #18
  • May 18, 2007 2:27am May 18, 2007 2:27am
Quoting melpheos
they have no way to stop you making money, but apparently they have ways to prevent you withdrawing it !!!
i had never had that problem from any broker that is register with n.f.a. maybe a delay here and there but i always got my money out, maybe if the broker is shady and lives offshore like belize
If I Go Broke Trying Then I Will die happy.
  • #19
  • May 18, 2007 9:13am May 18, 2007 9:13am
Let's get the facts straight though from Burgerking's account of what's happened:
- BK has withdrawn a sizable amount by wire from North Finance
- Due to BK having funded his account by both wire and E-gold, NF is requesting that he makes his second withdrawal (?) with E-Gold
Of course, BK is inconvenienced as he prefers to withdraw by wire. But he can still withdraw his money so hardly any reason to curse this broker just because they are an offshore broker.

If you dont believe, ask former Refco clients (yes, remember Refco, registered with NFA) whether they can withdraw by either wire or E-Gold.
  • #20
  • May 18, 2007 11:53am May 18, 2007 11:53am
yeah i can imagine me putting large sum of money with a company located in belize or where ever there from, you go right ahead and put your money with them, any regulated broker from u.s.a., u.k. and swiss is 1000% safer then those guys.
If I Go Broke Trying Then I Will die happy.
0 traders viewing now