North Finance transfers assets and accounts to EuroOrient.eu | Forex Factory

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North Finance transfers assets and accounts to EuroOrient.eu

  • #1
  • First Post: May 12, 2008 5:08pm May 12, 2008 5:08pm
Just got this announcement today, in the trading platform:

Quote
The many changes that have taken place recently affected our industry and in particular the provision of online trading services for Forex and CFDs. Due to various events and the increasing demand from investors and regulators, the whole industry is moving under the supervision and regulation by competent financial authorities. Based on the above, and to ensure the best interests of our clients, we have decided the following:

EuroOrient Securities and Financial Services Ltd, owner of FxPro.com, will acquire all operations of North Finance Co Ltd as of June 1st 2008.

Who are EuroOrient and FxPro.com
EuroOrient is a European company, registered in the Republic of Cyprus (certificate 181344) and it is regulated in the European Union by the Cyprus Securities and Exchange Commission (www.cysec.gov.cy) under license 078/07. The trade name "FxPro" and the domain "www.FxPro.com" are owned by EuroOrient. You can verify the information on EuroOrient and FxPro by visiting the websites www.FxPro.com and www.EuroOrient.eu.

If anyone here is trading live with this broker, it might be interesting to discuss the issue so to have a broader idea about the problems that arise or the eventual betterment of the actual situation... being under a regulated broker is way better, IMO but think that several issues are not too clear... Those of you who are trading with NF please check your internal platform mailbox as there is a deadline for the transfer at May 31st, 2008, and besides another nearer deadline (May 23rd) should you decline to be transferred to FXPro... if not met, funds would be held by NF for (12) months and charged a monthly commission of $10 for maintenance.

Regards
Caroline
  • #2
  • May 12, 2008 7:36pm May 12, 2008 7:36pm
hi Caroline,

are you one of my NF client ? (my nick is Iwe at TG forum )

yes start from 1 June NF will merge into fxpro, as far as i know, their shareholder is same

if you have any question about the transferring into fxpro, please pm/email me, i'll assist you
  • #3
  • May 12, 2008 8:40pm May 12, 2008 8:40pm
Sent you a pm
  • #4
  • May 13, 2008 8:35am May 13, 2008 8:35am
what dose it mean? isnt fxpro owner is northfinance?
  • #5
  • May 13, 2008 9:11am May 13, 2008 9:11am
North Finance actually had business?
  • #6
  • May 14, 2008 12:23am May 14, 2008 12:23am
Quoting MRmojtaba
what dose it mean? isnt fxpro owner is northfinance?
Pretty much now it makes sense. They've simply acquired the DB of clients, nice move...

As a client of FxPro i did not even knew abt this before reading the story at FF.

Not bad for all NF clients - going from offshore to the onshore, huh? ))
  • #7
  • May 15, 2008 3:32am May 15, 2008 3:32am
Seems so indeed... after the first surprise whipsaw, now everything makes sense and indeed even feels better.

After all... that's what announcements and news usually do, lol... a big spike in the middle of nothing... and then the trend resumes as usual!

  • #8
  • May 21, 2008 11:24pm May 21, 2008 11:24pm
I'm wondering if FXPro clients could possibly give their feeback about their experience with this broker. I'm sufficiently impressed to give them a try, that's why.

Thanks.
Amor Fati--F. Nietzsche
  • #9
  • Jun 6, 2008 3:43am Jun 6, 2008 3:43am
Quoting doji
I'm wondering if FXPro clients could possibly give their feeback about their experience with this broker. I'm sufficiently impressed to give them a try, that's why.

Thanks.
Not sure on which thread exactly, but've already wrote my ideas/experience with them. I will try to find the link
  • #10
  • Last Post: Edited 3:52am Jun 6, 2008 3:50am | Edited 3:52am
Here's the one i was looking for.

http://www.forexfactory.com/showthread.php?t=72896
**FOR ADMINISTRATORS - just now noticed that this thread is in Bin for some reason.. shouldn't it be in the proper section?!**

P.S. as a general one, coz quite some time passed since my last reply there:

1. Depos and Withdrawals are done fast.
2. They have multi terminal, which made me open 2nd acc there.
3. Spreads are perfectly fine for me, and they dont widen them that much during news
4. execution - pretty smooth
5. Lots of stuff to be traded, however im very conservative at my own trading.
6. all stuff like the DJ news feeds live chats etc, nowadays is not even worth of stating. they have it simply all.
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