Just got this announcement today, in the trading platform:
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
QuoteDislikedThe 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