North Finance .... red light?

Just found out this on a blog, better beware this is bad

Welcome to NorthFinance Live Assistance. Please wait for a NorthFinance representative to respond. You are next in the queue.
You are now chatting with 'NorthFinance Support Team'
NorthFinance Support Team: Hello, My name is Anthony.
NorthFinance Support Team: May I please have your name and North Finance Account Number?
you: hello, my name is (edited)
NorthFinance Support Team: How may I help you?
you: i just want to ask regarding news that i heard, that NF is changing to EURO ORIENT SECURITIES AND FINANCIAL SERVICES LTD.
you: is it true ? and what are the impact to all customer ?
NorthFinance Support Team: Due to the unexpected growth, our trading platform for both REAL and DEMO accounts reached its maximum capacity and the addition of new clients might jeopardize the performance of the platform itself. Therefore, we have decided not to accept new clients on our NF platform to avoid any possible inconvenience or system delays that might be caused and affect existing users. Currently, we are evaluating various options on how to upgrade our platform in order to be able to accept more clients in the near future.
NorthFinance Support Team: To ensure the bests interests of our existing clients and yours as a potential client, we decided to operate as a Master Introducer referring all new clients to FxPro for execution of their trades in Forex and CFDs. This is a European regulated broker with better terms and conditions. More information on FxPro can be found below or by visiting
NorthFinance Support Team: FxPro
NorthFinance Support Team: Existing clients can still enjoy all the benefits of using North Finance
you: so, it is the same company. but not automatically become fxpro member. right ? need to register again, right ?
NorthFinance Support Team: Due to the overwhelming success of North Finance, we have experience incredible growth, and to avoid reaching maximum capacity North Finance will not be accepting any new registrations directly on the North Finance platform
NorthFinance Support Team: It is not the same company, however North Finance does recommend FXPro for new clients
NorthFinance Support Team: North Finance will operate as a Master Introducer referring all new clients to FxPro
NorthFinance Support Team: You can create an FXPro account directly on their website if you wish Sir
NorthFinance Support Team: and you can also continue trading with your current North Finance account.
NorthFinance Support Team: FxPro does differ to North Finance, and FxPro is a European regulated broker with better terms and conditions.
NorthFinance Support Team: You do not automatically become a member of FxPro. You would need to register on the FxPro website
NorthFinance Support Team: You would also be able to withdraw your funds from your North Finance account to your FxPro account if you so wished.
NorthFinance Support Team: You can also to continue trading with your North Finance account as it is if you wish sir
you: oh ... i see. ok, thank you very much for the explanation. good bye.
NorthFinance Support Team: You're welcome
NorthFinance Support Team: Thank you for the chat, Bye for now!
Chat session has been terminated by the site operator.

OK I will not make further comment, do your own judgement

this reminds me of finifx

Wow, sounds like someone has a right business model. Other brokers must be jelous.

My guess is they're switching to fxpro

is their business so good? I wonder, if they provide their service only upto the uncivilized standard.

I got a question today to their support team for a reason why the H4 bar not shift to the next which was supposed to take place 27 minutes ago. they could not resolve the issue, and then shut down the chat session, when I logged in ask for the same so called supervisor, got no response anymore. I guess they need their clients to make them happy before service could be rendered

This was one of the brokers I was considering since last September 2007. It was between NF, AlpariUK and Oanda. Thanks to Forex Factory, I was able to make the right decision. Special thanks to Xaron . I'm now very satisfied with my new broker.

There are two much more readily observable RED LIGHTS about NF that should have been warning signs to anyone all along:

1. They're a dealing desk
2. They're based in Cyprus

Hello Trader KGB,

Which non-dealing desk brokers would you point out. Anyone for that matter is welcome to reply.

Thanks.

InteractiveBrokers
HotSpot FXr
MBT

You would think they would at least make the website look a little different than NF's.....

Hmmmm, I smell a rat.

A russian broker (NF), registered in cyprus, and a mailing address in belize.

I would LOVE to send them my life's savings, so I can gamble on "CFD's". lol

No thanks.

They have been around a lot longer then most. I would have prefered my money with them then FXLQ and Refco and whoever else has gone bust.