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Anybody know anyting about northfinance.com broker? 11 replies

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NorthFinance egold withdraw warning

Quoting PipStar
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- BK has withdrawn a sizable amount by wire from North Finance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.
There is always an option, for example "direct withdrawal" where you can silently approach the head of the bucket shop and "withdraw" the money from him
Quoting Dexis
There is always an option, for example "direct withdrawal" where you can silently approach the head of the bucket shop and "withdraw" the money from him
that might be the only way, l.m.a.o.
If I Go Broke Trying Then I Will die happy.
Quoting Moe
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.
Id scratch Switzerland from that list.
Quoting shrike
Id scratch Switzerland from that list.
yep, spot forex is loosely regulated there.
Quoting Moe
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.
What's the need to deposit a large sum of money with any forex broker anyway? None of them are 100 percent safe. My policy is to first deposit a small to average sum of money with any new broker, build it up, withdraw initial capital and some profits and then trade the balance. That way, I feel that my risk is limited to my initial capital.
Quoting PipStar
What's the need to deposit a large sum of money with any forex broker anyway? None of them are 100 percent safe. My policy is to first deposit a small to average sum of money with any new broker, build it up, withdraw initial capital and some profits and then trade the balance. That way, I feel that my risk is limited to my initial capital.
Pipstar,

I do exactly the same thing. I never put my full amount of capital that I have to trade with in my trading account. For example next month, I’m thinking about increasing my trading balance to $50,000. But I won’t put all $50,000 in the trading account. I’ll just have $25,000 in the trading account and the other half in the bank account. My risk per trade will be based on the $50,000 and if I need to rotate funds in the trading account I will. I like to move my money around with checks to avoid the wire fees. Since my trades are some long and short term trades timing is not a factor. I pull all profits out by check the last Sunday of each month.

Happy Trading …
If it is not broken, fix it until it is!
Quoting PipStar
What's the need to deposit a large sum of money with any forex broker anyway? None of them are 100 percent safe. My policy is to first deposit a small to average sum of money with any new broker, build it up, withdraw initial capital and some profits and then trade the balance. That way, I feel that my risk is limited to my initial capital.
bigger positions, compound money, and add to positions, im a very active trader, plus im not in a position where i have to worry about my broker going under shit can happen but im not worry, my focus is on trading and thats enough worry in itself.
If I Go Broke Trying Then I Will die happy.
Quoting shrike
Id scratch Switzerland from that list.
not as safe as u.s. and u.k. brokers a whole lot safer then some broker from belize. let one of those broker's commit fraud from u.s. and u.k. and watch how quick they get prosicuted.
If I Go Broke Trying Then I Will die happy.
Are you serious?
E-pay is supposedly a “reputed” American company,
But thru speak for itself…
LOL,
Be serious… because they are NOT Americans (I’m from Spain)don’t means they are a scam; even the opposite can be a good sign, truly!



There are so many laws on the books, one is subject to waking up in the morning having committed or about to commit numerous crimes, yet you wouldn't even know it.


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.
  • Post #30
  • Quote
  • Edited 9:25am May 19, 2007 8:58am | Edited 9:25am
Quoting shrike
Id scratch Switzerland from that list.
Yes you are right ! You must be washing dirty money!

And Swiss control on money laundering and politically corrupted money is tightly checked. Any amount below
$100'000 or say 90K won't need to be questioned.
Info on all companies are easily open to the public under the the FREE register of commerce which I posted already on previous posts. There you can see who the owners are. WHETHER THEY ARE FOREIGNERS USING SWITZERLAND AS A BASE OR ARE THEY OWNERS OF SWISS ORIGIN.
You can check on a regular basis ( even every week) the health of the company through the government office. Betreibungsamt or Offices des poursuite of the canton where your broker is based. If you know enough of the law here you will see that most of the things are publicly open to the public. The consummer is over to the extreem protected by the Union des Consomateurs. Companies and even the government services agencies are brought to the the weekly Tuesday TV program - A bon Ententeur or the German equivalent -Kassensturz. There they are openly being criticised and in the worst cases followed up with court cases if the companies are truly off the track.

If you are a clean and bigger player, try Dukascopy. Negotiate to open an account and have only a small deposit and then have a swiss bank account ( or your own reputated bank) to guarantee to pay for all your cost needed for future funding of your account Dukascopy account. That way your BIG money will not be touched if the company goes down ( which I would highly doubt )
One lot is $ 1 million and minimum trade is 250K Spreads are about ONE pip and commission is $20 per Million.

If you are ignorant about the forex market, be informed that most FOREX companies has a telephone line with a Suisse number. They have a office to answer your questions through Switzerland but their registrations and banking account are not. HAVE YOU HEARD OF SWISS FOREX COMPANIES POSTED HERE THAT SAY THEY DO NOT ACCEPT AMERICAN CUSTOMERS !! Check it out and you will see where they are registered.

All International tranfer of money cost between $20 to $40. That is the charge of the bank and not your broker !! If you want to save that money, open a swiis bank account to fund your swiss Forex account. You can use telebanking to provided by the bank to transfer your money anywhere in the world. Your swiss broker should be using either Credit Suisse or UBS ( if you esteem that they are both not safe or big enough for you, get another one) and their electronic transfer ought to be service FREE. That means if you transfer 5 times ( even more or even less ) from broker to your swiss account, you pay nothing ( since it is for security that you are doing it ) and do a transfer to your country from your bank to your country every 6 months etc. ( each international transfer $40 )

That applies also if you are using a retail broker.
The only Swiss "RETAIL" broker I would recommend to anyone who need to trade news who hardly give you any reqoutes is www.realtimeforex.com And also no additional spreads during news. They have a software that is super fast to execute your trades. They had an initial period a few years ago with java problems but that is over. Spread is 3 pips with EUR/USD but that is an honest 3 pips. Many advertise with 2 pips but you are actually paying 4 pips. ( I had explained that in previous posts how other brokers are "misleading" in a way )
Just for your Information, I am not earning my life as an IB from brokers. I am a FREE commision forex IB for SWITZERLAND. And no FOREX brokers can buy me for any amount of money to give false advertisements. I will never endorse anything false. The most I might do is not say anything. ( Due to potential lawsuits )
Are they no brokers that had gone down ? False!. There are. But knowing how and what and where a broker is will help you make a better choice.

I give Free Forex advices but I don't need anymore clients. I am with a group of the Forexfactory Member's chat group. My skype ID id : Hibbiz We also discuss systems and trading. You need to be a FF member to participate.
Have a nice weekend.
every time i speak im serious.

Quoting PipperPip
Are you serious?
E-pay is supposedly a “reputed” American company,
But thru speak for itself…
LOL,
Be serious… because they are NOT Americans (I’m from Spain)don’t means they are a scam; even the opposite can be a good sign, truly!



There are so many laws on the books, one is subject to waking up in the morning having committed or about to commit numerous crimes, yet you wouldn't even know it.
If I Go Broke Trying Then I Will die happy.
Quoting highway3000
pimping his IB business and stuff about CH
The fact remains that the retail FX business in switzerland is not regulated AT ALL. Any nutjob can open a website over there, licence Metatrader (or, failing that due to lack of funds, act as introducing "broker" to another such outfit) and is good to go. This would absolutly not be possible in the USA or EU. This swiss specialty is the reason alot of FX-scamsters reside in CH. Latest example of many being Neuimex Asset Management GMBH.

The marketing-blabla of such operations is always the same. They refer to the swiss marketplace with their big tradition in banking and tight moneylaundring laws, completly failing to mention that this has NADA to do with the retail-FX situation over there. Upon further looking into the details they often refer to the "tight regulation" of such organisations as Polyreg, which means exactly nothing.

Try operating a website like yours (hibbiz.com) in any other country that has regulations that deserve their name, and the authorities will knock on your door next day.
Quoting shrike
The fact remains that the retail FX business in switzerland is not regulated AT ALL. Any nutjob can open a website over there, licence Metatrader (or, failing that due to lack of funds, act as introducing "broker" to another such outfit) and is good to go. This would absolutly not be possible in the USA or EU. This swiss specialty is the reason alot of FX-scamsters reside in CH. Latest example of many being Neuimex Asset Management GMBH.

The marketing-blabla of such operations is always the same. They refer to the swiss marketplace with their big tradition in banking and tight moneylaundring laws, completly failing to mention that this has NADA to do with the retail-FX situation over there. Upon further looking into the details they often refer to the "tight regulation" of such organisations as Polyreg, which means exactly nothing.

Try operating a website like yours (hibbiz.com) in any other country that has regulations that deserve their name, and the authorities will knock on your door next day.
Sorry - As I would like to point out that you are more ignorant than i think. Pimping for my IB business ! You sre certainly new here. Why don't you read a bit more first. Name me ONE person who is trading here where I am their IB ! ! Well FF member's! Other than a friend, Chin. Someone? Speak up !
Quite a number of people requsted me to be their IB. But I disuaded them openly on FF. That thread was pobably DELETED. As I said, MONEY CANNOT BUY ME. I won't side any broker because of benefits !! Did you read the post where I posted to FF member's that they can get the IB commision being their own IB? Why don't you PM Americanteek whether I choose the truth or choose to lie to make IB money ? Ask all those that I refused to be their IB to certain brokers ? Stop being ridiculous ! I make my money not on being IB.
In Europe you certainly can make a business and have a similar busuness like mine. That you are ignorant again. You probably don't know how big Europe is. In the US, you certainly have authorities that can control Refco like brokers. Does it help from preventing it going down ? Was there not another Concord thing that have a similar problem ? On the otherhand, can you check your broker's situation so openly like in Switzerland? Pay the company INKASSO and they can alert you to any companie's situation. As I said, get your money in a Swiss bank account and fund your FX account with a bank guarantee. That is the safest way to your large deposit.
Have a look at this.
Inserted Video
We have people all over the world who don't know many things. Same here. And myself will not be able to tell Americans etc something going on in their countries. What these people did not say was insist to be right on something away form where they live. People who have visited Switzerland would be able to tell more about the swiss mentality. One example is that the ROOTED Swiss prefer to work for their money than to get it freely handed out to them by the government.
highway3000 apparently is swiss, hehe. but he is a good guy.

well, maybe even NF is OK, probably it is easier and cheaper to operate in Belize than in US but yeah.. like every second firm in this business looks suspicious and you can't tell with certainty who is doing or will do something illegal. look, even Gain Capital is still around, lol.
shrike, are u an IB or a broker? Is that how you manupulate in your country. Is that your personality? There is no such quote from highway3000
Attached Image
Not all countries regulate the same way, nor do they have the same regulatory environment and requirements when it comes to financial registration. Therefore, it is important for any investor/trader to choose a foreign exchange broker that is based in a country where their activities are monitored by a regulatory agency. It is also important to know if the broker or dealer is regulated in an on- or off-shore country, as the latter can be more liberal with registration requirements.
Countries with dedicated regulatory agencies include:

 

  1. USA
  2. UK
  3. Eurozone
  4. Japan
  5. Australia
  6. Switzerland

If I Go Broke Trying Then I Will die happy.
Ok can you tell me the name of the agency/authority that regulates FX in switzerland?
Quoting shrike
Ok can you tell me the name of the agency/authority that regulates FX in switzerland?

Main Regulatory Organizations

 

  1. Australia :
  2. Australian Securities and Investment Commission

  1. Canada :
  2. Ontario Securities Commission

  1. Denmark :
  2. Danish FSA

  1. Germany :
  2. Bundeszentrale für Finanzdienstleistungsaufsicht

  1. Japan :
  2. Financial Services Agency

  1. Switzerland :
  2. Groupement Suisse des Conseils en Gestion Indépendants
  3. Polyreg
  4. Organisme d'autorégulation fondé par le GSCGI
  5. Association Romande des intermediares financiers
  6. Commission fédérale des banques
  7. Swiss Federal Department of Finance

  1. United Kingdom :
  2. Financial Services Authority

  1. United States :
  2. Securities and Exchanges Commission
  3. Commodities and Futures Trading Commission
  4. National Futures Association

If I Go Broke Trying Then I Will die happy.
Quoting Moe
Main Regulatory Organizations

  1. Switzerland :
  2. Groupement Suisse des Conseils en Gestion Indépendants
  3. Polyreg
  4. Organisme d'autorégulation fondé par le GSCGI
  5. Association Romande des intermediares financiers
  6. Commission fédérale des banques
  7. Swiss Federal Department of Finance

Thank you Moe for you non manupulative and correct informations.
Nothing is perfect in Switzerland. It is a tiny country and have 25 semi independant states within it. Any citizen can propose on a change of laws etc. Just get an initial number of signatures and when that is done, the commuinity will have to vote on it.
http://en.wikipedia.org/wiki/Voting_in_Switzerland
If the citizens deem that a particular section of the law ( including financial sector ) is not adequate or good, they can easily vote to have another authourity to control it.
That was the case of money laundering practices. The citizens voted that into law to control that practice. If one is not satisfied with certain rules, even the Forex regulations. we have places to complain and those rules can be tighten if needed. Google a bit more and you will see how this country works. The majority of the ROOTED Swiss. you can call them naive if you wish, do not live their lives with the daily evil thought on the front page of the day. Which country have their men ALL armed with automatic weapon and ammunitions? Which country has prison like a 3 star hotel? Which country supply heroin FREE to help the addict out of the streets? In spite of these available arms, almost no crimes are involved with arms.
But Switzerland is no heaven neither. Google if you want to know more about the finance, politic etc if you wish to know more.
And certainly our majority here don't use dirty techniques when their pride is hurt

Sorry Burger King for spaming your thread.
Thanks Picolo for your remark.
Thanks Moe for a third party information.
Have a nice day all
Highway: I dont have anything against switzerland, and i do not try to flame the country itself, if that is your impression. I have often been there, since i live not far away from it. Its a very nice place to live.

I also do not know WHAT you do, judgeing from your website it seems to be some kind of secret. I only see some pictures of Ferraris and an offer to contact you for fx-trading (fix your german, btw, looks like its translated with babelfish, aint looking that compelling to your future german clients i s'pose).

ALL i am trying to say is, FX is NOT regulated over there, and, judgeing from your refco-comment, you seem not to disagree with that statement. Part of switzerlands success as financial marketplace is the traditional light reglementation and anonymity of funds. What is an advantage for big institutions like banks, can in some cases be disadvantageous to small clients (and it has been so in the past).

The organizations moe listed, do not oversee FX business. The ONLY requirement for an FX-marketmaker in switzerland is to be registered with an self-regulatory organization against money-laundring, such as Polyreg. That is all. No capital-requirements, no dealer-licence, no risk-haircuts, no nothing. Please provide a link from those organisations that state otherwise. I could start such an outfit tomorrow, if i wanted. If you deem such an environment as save enough to conduct business from a small-spec perspective, go ahead..

Oh and if corporations are so transparent, i am sure it is easy for you to tell me how much money is left at Neuimex AG. I know some ppl from other boards that are quite curious on how much money they will get back (if anything).
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