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North Finance any good broker?

  • #1
  • First Post: Sep 3, 2006 12:05pm Sep 3, 2006 12:05pm
Hi there,

has anybody experiences with this broker? They seem fine, and transfer
in and out can be made with e-gold. Spreads also fine, but I wonder why
they are not mentioned much here....(aside from used for MT4 demo accounts!)

Thanks for any "real world" inputs,

FT
  • #2
  • Sep 3, 2006 2:00pm Sep 3, 2006 2:00pm
Northfinance is a good brokerage, no problems. I can vouch for their excellent customer service even as far as re-imbursing a traders account (eventhough technically it was his own stupidity).


The only problem was with Friday's NFP when their ISP was struck by a Denial-Of-Service attack, but their desk was available by telephone. I never got to execute the trade, so I neither won nor loss. Other than that, no complaints.
a journey of a thousand trades begins with a single pip
  • #3
  • Sep 3, 2006 2:06pm Sep 3, 2006 2:06pm
Hey Maya,

thanks for your input.

Do you know how they are regualted, I mean they are based in
Belize and also Cypern I guess (or only their mail address?), which is fine, but I can not figure out which laws/regulations etc. they are under. (sorry for being paranoid, I just feel its nice to know, before any decission to sign up at them).

Thanks

FT


Quoting Maya
Northfinance is a good brokerage, no problems. I can vouch for their excellent customer service even as far as re-imbursing a traders account (eventhough technically it was his own stupidity).


The only problem was with Friday's NFP when their ISP was struck by a Denial-Of-Service attack, but their desk was available by telephone. I never got to execute the trade, so I neither won nor loss. Other than that, no complaints.
  • #4
  • Sep 3, 2006 2:15pm Sep 3, 2006 2:15pm
There customer service is very good but lots of requotes and slippage when the market is active (and I am not talking about news time either). They are not regulated by anyone as far as I know. But they do offer a bank guarantee with a bank in Cyprus for deposits of 50K or more.
  • #5
  • Sep 3, 2006 2:20pm Sep 3, 2006 2:20pm
I use them on a live account and haven't had any trouble other than this past friday which is a big trading day for me and many others.. I do feel the DDOS attack sounds fishy but will wait to see how they intend to prvent it before I do as some others I know that are moving their accounts because of it..

Like I said I have never had any problems with them until this past Friday so I will give them the benefit of the doubt until I have a firm reason not to..

Just my 2 pips worth..

Shaimus
  • #6
  • Sep 23, 2006 10:24am Sep 23, 2006 10:24am
i ever had problem with them...
somehow they go offline and i dont put S/L on my trade...
but im lucky coz the trade aint go wrong...
i wonder what will happen if the trade go wrong....
who should be blame????
me for not putting S/L????
or them for going offline???
and what is ddos attack u guys taking about...
"Analysis Is Hard But Trade Is Easy"
  • #7
  • Oct 23, 2006 8:35am Oct 23, 2006 8:35am
By the way, since they installed new servers inc.proxy, and increased their security levels(as they lold in Live Chat), the connection is perfect for a month till now Hope it will be like that 4 ever....

P.S. Hope this info will help anyone...
  • #8
  • Nov 8, 2007 6:08am Nov 8, 2007 6:08am
Got home went to check my charts before I hit the sack for the night. MT4 with North was hung. For 14 minutes. I restarted the MT4. Got another minute or two out of it and it hang again until 11:01:32.
I thought to myself must be news coming out. Checked the calendar. Sure enough-Interest rate statement on GBP. Predictable!!
Same wolf; different clothing; different part of the woods.
Frank
FrankieB
  • #9
  • Nov 9, 2007 3:17pm Nov 9, 2007 3:17pm
...THE BEST BROKER IS DEUTSCHE BANK and their site is www.dbfx.com
  • #10
  • Nov 9, 2007 3:45pm Nov 9, 2007 3:45pm
Quoting 30pips
...THE BEST BROKER
No such thing.
The basis of a democratic state is liberty. ~ Aristotle
  • #11
  • Nov 10, 2007 6:52am Nov 10, 2007 6:52am
They kick you out during the news.. the spreads are ok and the customer support seems ok and they have been around several years which also counts in their favour, but I am very uneasy about the lack of regulation. Safety of your funds is paramount when trading, or whats the point ?
  • #12
  • Nov 14, 2007 7:57pm Nov 14, 2007 7:57pm
I have a feeling that all these guys here are NF staff cos I've used NF and they dealt with me. Firstly they deduct 15% of your deposit and tell you its their receiving bank (up to 2000k) and yet it takes a decade to withdraw large amounts. Now tell me, If you want to report them, where will you go? They are regulated in any way and even not a postal address in their office. How can a broker in Limasol have a postal address in Belize city? If you want to loose your money, put it in NF.
  • #13
  • Nov 15, 2007 5:36am Nov 15, 2007 5:36am
well, I'm certainly not staff. I have a very small account with them as I had some egold a while ago. I have done a withdrawal and it was paid within about 2 hours. I would not recommend them though.. as they are not regulated.
  • #14
  • Nov 16, 2007 6:29am Nov 16, 2007 6:29am
Quoting Vensik
No such thing.
...what do you mean?
  • #15
  • Nov 19, 2007 9:16pm Nov 19, 2007 9:16pm
Quoting peterM
well, I'm certainly not staff. I have a very small account with them as I had some egold a while ago. I have done a withdrawal and it was paid within about 2 hours. I would not recommend them though.. as they are not regulated.
Now you get the message. I doubt they use e-gold too cos they always tell me its only wire transfer. But thank you for being frank.
  • #16
  • Nov 19, 2007 9:44pm Nov 19, 2007 9:44pm
Quoting 30pips
...what do you mean?
I mean there is no such thing as
Quoting 30pips
...THE BEST BROKER...
Thats an opinion. There are different brokers, but there is no best one. Coders like MT4, scalpers need an ECN, larger traders need large liquidity brokers, some people need a zero interest broker, some value security and the size of the broker over customer service and reputation...

That's what I mean.
The basis of a democratic state is liberty. ~ Aristotle
  • #17
  • Nov 19, 2007 11:06pm Nov 19, 2007 11:06pm
All the crap NFA regulation dont give a hoot to the security of any money you put on any NFA regulated brokers so what the hell is regulation benefiting the trader?

For example, I have money at UGM and 1world. No where could I get it out even with NFA complaints.

I had traded at NF; withdrew money with no problem but what I dont like is the way i was forced to withdraw via egold back then. And yes, the address is another cause for alarm.

Buttom Line: Though I dont trade with NF now, I surely put them at the top of my list of brokers for future use.
  • #18
  • Nov 19, 2007 11:18pm Nov 19, 2007 11:18pm
Quoting BurgerKing
All the crap NFA regulation dont give a hoot to the security of any money you put on any NFA regulated brokers so what the hell is regulation benefiting the trader?

For example, I have money at UGM and 1world. No where could I get it out even with NFA complaints.

I had traded at NF; withdrew money with no problem but what I dont like is the way i was forced to withdraw via egold back then. And yes, the address is another cause for alarm.

Buttom Line: Though I dont trade with NF now, I surely put them at the top of my list of brokers for future use.
I agree BK, NF has remained alive for years without being regulated solely by having a good reputation and providing good customer service. Although they are unregulated, they have been able to rise above many brokerages that Were in fact regulated and that Did in fact go out of business and lose the clients money. They do have a relationship with a bank that can provide security for larger accounts, so they are here to stay.

If you don't trust them, open a smaller account and try out their service.
The basis of a democratic state is liberty. ~ Aristotle
  • #19
  • Nov 25, 2007 12:03am Nov 25, 2007 12:03am
i just remembered Erlan's story. he opened with a broker (fxopen) in the same region as Northfinance after hearing other trader's successful experience.....hmmmmm

but probably not a good idea to trust more than 5 digit figures with most DD
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  • #20
  • Nov 25, 2007 12:07am Nov 25, 2007 12:07am
Quoting Vensik
I mean there is no such thing as

Thats an opinion. There are different brokers, but there is no best one. Coders like MT4, scalpers need an ECN, larger traders need large liquidity brokers, some people need a zero interest broker, some value security and the size of the broker over customer service and reputation...

That's what I mean.
i second that....for each his own. but anyone starting with puny numbers really have no choice. and naive to assume any better ()
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