No, NF is not YET regulated. They are in process of regulation in EU. For me, as for existing client, it doesn't actually make any difference. But for potential clients - maybe, coz they want to be secured, and i respect this view. But guys if you want broker who pays, have one of the shortest spreads, good leverage, lots of things to trade(), stick with them.
It doesn't actually matter if brokers is regulated, coz the service is exactly the same! For my own interest i went to nfa web site, and i saw how many complaints there are, so what is the point of regulation. Some may say that at least the one can see the complains, but still personally i don't see any point in viewing the complaints???!!
In my situation, it just happened to me that I'm with them, and really I like them! Hope for others they will be regulated soon!

Cheers to everyone, hope this help to see regulation from other side of view!