Thread: North Finance

This e-mail was sent out today....


*NOTICE To Northfinance Customers...*
------------ --------- --------- --------- --------- --------- -
International Financial Services Commission,
New Adminiion Building,
Belmopan,
Belize, C.A.

4 August 2006

WARNING NOTICE

NORTH FINANCE COMPANY LTD

It is notified for general advice that NORTH FINANCE COMPANY LTD is
not accredited by any competent authority in Belize to engage in overseas
exchange transactions, or to engage in any other international financial
services.

All persons are asked to be aware and exercise caution.

GIAN C. GANDHI
DIRECTOR GENERAL
International Financial Services Commission

out of http://www.ifsc.gov.bz/notices.html

https://www.nigeriaforextrading.com/...ers-dubai.html

Originally Posted by ;

lt;ttgt;I went into their live chat service, and asked about it again.
The most interesting part is that theit firm's money are kept
separately!!! What else might we need....

Chat InformationWelcome to our live chat service!
Chat InformationNorthFinance Support: Hi. How may I assist you?
NorthFinance Service Team: I am Mirna, how may I assist you.
You: hello
NorthFinance Service Team: hello sir, how may I help you?
Youwanted to ask you
you: if you are governed by NFA or anything like this?
NorthFinance Service Team: NorthFinance Company LTD.. Is enrolled as
an
offshore company isn't governed by USA or European national
regulatory
bodies. But our subsidiaries and some of our Ibs are controlled on
a
national level
you: ah, that good
you: ok, next question
you: how safe my money are?
NorthFinance Service Team: Our customer's money are kept in a segregated
(separate) customer account i.e. customer money is kept separately by
company funds and cannot be employed by North Finance Ltd except for customer
dealing purposes. Client funds can't be used to ensure North
Finance
ltd accounts or to offset North Finance Ltd loans.
You: thats good
you: and what about bank guarantee?
You: do you have smth like this?
NorthFinance Service Team: We provide to Clients who fund their account
with 100.000 $US and over bank guarantee.
You: which bank?
You: ok, thnaks alot guys, I knew you provide many interesting
things:--RRB-
NorthFinance Service Team: Your Largely Welcomed
NorthFinance Service Team: at your service
you: bye


hope this assists.

Dave
NorthFinance Service Team: byelt;/ttgt;

Hey partner, that was my dialogue!
But everybody can use it, even if it is going to help to anyone!
P.S. I am with NF for 2yrs - fully satisfyed, and feel secured after that.

One question... what's a good leverage ratio to choose from? What are you guys using?

More significant than the assigned leverage is the used leverage. For me no matter how large the provided leverage from the broker is, I never use a leverage greater than 1:30 in my all open positions. High leverage can work for you and against you but more from you!

I still don't understand why it matters to throttle off your leverage, since it's the lot size that counts:

unless

1) you want to use the margin call as a astrophic stop loss; OR

two ) you want to be prevented from the temptation of entering too many places (i.e. you desire a babysitter

maybe I'm missing something, but that's all I can think of.

But, some might want to select their brokers based on (lack of) leverage. Odds are a broker offering just 50:1 employs less buckshop-style egies than the usual 400:1 one. Don't quote me, that's just my gut feeling.

Northfinance, really broker

Now pay me!
Very quickly (few hours) to get e-gold!

It is irrelevant if NF keep your cash in a seperate (segregated account). This is a topic of english and what they are or are not implying. What needs to be clarified is if the company goes into adminiion, does exactly the backrupcy legislation of Belize stipulate that customer's accounts are segrigated by law and can't be included in the general bud that creditors will get paid out of. If this is actually the case then great, there's not any issue and the words they're using above refer to the legislation of Belize. However, should the legislation of Belize state or suggest that assets held by the company get put into the bud, irrelevant of what account the money is in, you are having trouble. Then what is indied above by segregated is merely a seperate account, yet another english word being segregated and that money is going to end up in the bud.

Recall, RefocoFX had some of there clients currencies in seperate accounts and called it segregated, but the reality was that the legislation of the US did not clasify that cash as the clients, but all lenders, and we're still awaiting our portion two years after.

Do be duped by english terminoloy. Ask to find the law that enforces segregation. When I asked about the particular law or financial institution applying this, I kept getting the usual sentence as indied in a previous post.

I ask that NF will in reality clarify this for us and not only give the same sentence that they give to each customer, leaving us wondering if they're playing english words or there's in reality a lawful enforcement of segregation where upon a unlucky banckrupcy, the court will cure our cash since clients cash.

North Finance?

Regards,

Hello, I was daft enough to not look at out these guys until I saw that the wiring instructions and found out they were registered in Belize. Which translated into real English signifies in a loion where nobody asks any questions.

I asked that the similar questions recorded in this thread and will not replie the copy/pasted answers - but will provide some more information I got.


NorthFinance Support: we have been in the market since 2001 and now we're moving step higher and higher every year, our reputation speaks for us.
NorthFinance Support: and in the end the choice is yours.
You: hmm - I just find it embarrassing that you are totally unregulated and your organization is based in a tax-haven
you: have you got any plans to become regulated?
NorthFinance Service: our supervisors are working always to improve our solutions

you: is there any independent audit or information on your company? When you state your reputation is constructing what exactly do you base this on please?
NorthFinance Support: According to our customers

you: okay, under belize law - if North Finance goes into government, would the segregated bank account be suspended?
You: sorry for these questions, however I didn't know you were unregulated and these kind of things are normally coated by authorities!
NorthFinance Service: these are questions that would be best answered by our supervisor
you: okay, can you put me to the supervisor please?
NorthFinance Service: Can you please send an email and it will be answered accordingly
you: what is the title of your supervisor?
NorthFinance Service: mrs ellei
NorthFinance Service: she is not in today
NorthFinance Service: you will send an email and it'll be forwarded to her
you: therefore there's not any one who can answer any questions right now?
You: hmmm
NorthFinance Support: not at the moment I am sorry



-- I know they say they've been around since 2001, but has anybody ever trusted them with anything greater than $10k is your question.


Any responses much appreciated.

Many thanks,