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NorthFinance Review and Information 2022

NorthFinance
Voting Rating NorthFinance does not participate in the Forex Rating
Submit Forex Broker
Reviews Rating
Status Closed
Regulation
Trading software Meta Trader 4
Headquartered

Securities and Exchange Commission v. True North Finance Corp., et al., Civil Action No. 10-cv-3995 (D. Minn., filed Sept. 21, 2010)

Final Judgments Entered Against Distributor and Investment Adviser

The Securities and Exchange Commission announced that on April 15, 2013, a Minnesota federal court entered final judgments by consent against Michael Bozora, Timothy Redpath, Capital Solutions Distributors, LLC (CSD) and Capital Solutions Management, LP (CSM), in a civil injunctive action filed by the Commission on September 21, 2010. Among other things, the judgments order Bozora to pay over $500,000 in disgorgement of ill-gotten gains, Redpath to pay over $600,000 of ill-gotten gains, CSD to pay over $2.8 million of ill-gotten gains, and CSM to pay over $1.3 million of ill-gotten gains, plus pre-judgment interest and civil penalties against each of these Defendants.

The Commission's complaint alleged that forex broker North Finance who owned and controlled CSD, the distributor of the Capital Solutions Monthly Income Fund, and CSM, the Fund's investment adviser, made several written and oral representations to Fund investors that were materially misleading because they claimed the Fund was enjoying success and weathering disruptions in the credit and real estate markets. According to the complaint forex NorthFinance failed to make any meaningful disclosure of the default by the Fund's sole borrower, the Fund's subsequent foreclosure on the borrower's assets, and the resulting loss of any significant investment income to the Fund. The complaint also alleged that Bozora made unsuitable recommendations for investors to purchase a note issued by CS Financing Corporation, an entity at which Bozora served as the President.

The final judgments against Bozora, Redpath, CSD, and CSM imposed permanent injunctions prohibiting these Defendants from violating Sections 17(a)(2) and (3) of the Securities Act of 1933.

The final judgments also ordered: i) Bozora to pay disgorgement of $538,529 and prejudgment interest of $76,236, and a $130,000 civil penalty; (ii) Redpath to pay disgorgement of $606,424 and prejudgment interest of $79,545, and a $130,000 civil penalty; (iii) CSD to pay disgorgement of $2,819,015 and prejudgment interest of $408,585, and a $130,000 civil penalty; and (iv) CSM to pay disgorgement of $1,342,581 and prejudgment interest of $166,896, and a $130,000 civil penalty.

On the forex broker NorthFinance profile page at our website you can read news and reviews by other traders as well as write your personal NorthFinance review of your personal metatrader platform experience with the broker on demo account or real account.

NorthFinance Trading Information 2022


WWW
Address
Headquarters
Free phone
Digits after the dot in quotes
Minimum position size
Spread Type
Pip spread on majors 1-3
Maximum Leverage 500:1
STP, $
ECN, $
Standard account, $ 100
Mini account, $ 100
Popular payment methods Credit Cards, Wire Transfer, WebMoney
Account currencies
Available assets
Languages
Platforms MetaTrader 4
Broker type
Regulation not regulated
Foundation 2006

NorthFinance Reviews and Comments

I've used them as my first broker. Nothing special. Fx division was based in Cyprus. Migrated to Fxpro. The main reason i left them was that they didn't accept us customers. Therefore, for serious trading i decided to work with broker that strongly regulated. At least by NFA and located here in the US. It doesn't mean my fx experience was pure with northfinance but i had never traded big volumes. It is a main reason not to be sure in excellence of this fx broker among others. I also found a notice in my emails that Cyprus government issued prohibition for NF to operate in Cyprus.
  28 Jul 2016  
YES,they a scammer.I want to start my trade and sent my monet to my NF account.But still not funded yet.almost a month,and their answer is wait.They stole my money.Even just USD100
  23 Jan 2008  
I AM NEW TO FOREX AND I WANT A DEPENDABLE BROKER. CAN ANYBODY RECOMMEND A GOOD ONE FOR ME.
  7 Jan 2008  
I mean NOV. 23 & 29 2007 not DEC.
  18 Dec 2007  
Award-Winning NDD Execution

All client trades are executed with No Dealing Desk* intervention. Most trades are filled in under 10 milliseconds, with up to 2,000 trades executed per second.

Never receive my first 2 withdrawal requests $300 and $150 cant even pay me those amount since dec. 23 & 29. I think they have descrimination on a christian trader. All of their swift copies they provide are false transactions. Scammers!!!!! I guess this firm is going bankruptcy. DONT INVEST HERE>>>> northfinance.com if you dont want to lose your money.
  18 Dec 2007  
I have no problems with this broker. Support is good, Withdrawl very fast ! Only positive to say! and 1:500 leverage.
  15 Dec 2007  
total scam. slow oder excecution. keep away from valotile market they will add +10 pips to your spread during volatile times. they requote often. really bad excecution. NF is a russian firm. And I am from Russia too. And I know who they are. They conceal that they are russians, because they don't want their clients to know it. Wescap is also a russian broker. In my country a lot of firms close their activity as soon as they get good money. That is why I try to trade with european and american brokers. And all these good words above are NF staff's words.
  18 Nov 2007  
I REALLY LIKE NORTH FINANCE BECOS THEY HAVE NOT FUCK ME UP FOR ONCE . BUT THEY DELAY MARKET WATCH AFTER THE EVENT THEY WILL NOW SHOW YOU .
  2 Nov 2007  
the previous post is like "me no English" and "me no understand what am I talking about"

cheez, make a bit of research or ask some one if you cant figure it out what happens around you ))

NF, you guys are the best out there, and least stop hunting! And there is for sure a reason for not being regulated..
"not regulated, BETTER than most NFA regulated"


  30 Oct 2007  
THESE GUYS ARE NOT REGULATED>THEIR CHARTS FREEZES UP EACH TIME YOU WANT TO MAKE IMPORTANT DECISIONS.THEIR CUSTOMER CARE IS CONTRACTED OUT SO AS TO HIDELTHE DUBIOUS RUNNING OF THEIR BROKERAGE SERVICE .FROM MY EXPERIENCE WITH THEM ITS NO USE TO HAVE BIG AMOUNT OF MONEY WITH THEM>THEY CANT BE LEGALLY HELD RESPONSIBLE FOR FRAUD COS THE BELIZE GOVT HAVE ISSUED A WARNING TO THIS EFFECT.
  22 Oct 2007  
Maybe this is a scam company check this link out h**p://***.ifsc.gov.bz/notices.h**l
  8 Oct 2007  
6 years on the market, and did not run with your money ;) why should they do it now?!
  19 Sep 2007  
Can you prove it? Just words... I don't believe you!
  9 Aug 2007  
northfinance is purely a scam i was with them and they screwed me they refused to pay me when i requested for a withdrawal. no mail reply and no reason at-all.
RUN WITH YOUR MONEY. before it is too late.

  4 Aug 2007  
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NF is a total scam, as soon as they have a satisfying amount of client funds they will close up shop and you can say byebye to whatever you have left there. Its inside info, take it or leave it.
  3 Aug 2007  
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