Original FPA Traders Court Submission:
I am submitting the case against: www.noafx.com
My Case is: I have requested a withdrawal on Dec 17th 2015. On Dece 21 it was debited from my MT4 and I got a respoonse by skype from my account Agent ns_karthik1, that my funds were send on Dec 22nd with value date 23rd.
However the wire to this day has not been recieved so I kept asking noafx for aproof of transfer until on December 8th they suddenly emailed me saying the wire was not sent and that they had a massive backlog of withdrawals and my wire was scheduled to be process 3rd week of january.
I am very concered they have liquidity or other issues and have lost client funds so they cannot make withdrawals and are not telling the truth about it.
New thread in the Scam Alerts Folder:
Review is submitted by AD on 01/06/16
The company was first contacted about the issue on 01/03/16 the last contact was on 01/11/16
Details: ---------- Forwarded message ----------
From: NoaFX <support@noafx.com>
Date: 2016-01-08 9:21 GMT+01:00
Subject: Re: Reply
To: XXXXXX
Hi,
Thanks for getting in touch with NoaFX. We apologise for the confusion surrounding your withdrawal. We have checked with the accounts team and they inform us that the withdrawal has not gone out yet. We do not understand why your account manager had informed that the withdrawal had gone out (maybe he got confused with the name or something) but we can now confirm that the withdrawal did not go out yet.
The reason for this is that there was a spate of withdrawals right from the beginning of December till around year end which we did not anticipate and this has led to a backlog of pending withdrawals which we are trying to clear right now. This sudden rush of withdrawals could be due to year end holiday withdrawals or maybe due to US changing its interest rates. We are not sure of the reason. But the fact is that there have been a spate of withdrawals and we have processed the withdrawals based on differing priority and are processing the rest.
We understand your anxiety in getting your withdrawal and the delay in that and we have to profusely apologise for that. But please do understand that we will process each and every withdrawal and it is just a matter of 'when' this will happen rather than 'if' as we dont have any liquidity issues and its just a problem caused due to unanticipated withdrawals (big and small) which we are now looking to fix. We really solicit your help and cooperation in this matter until we sort this out.
We also request you to use this email thread for further queries and communication as the CS staff on chat may not have the entire picture about each withdrawal and hence may not be able to provide you with the correct withdrawal information always. Again, we assure you that we will process your withdrawal and except for the delay, there arent any issues with that.
NoaFX Customer Support
Email: support@noafx.com | web: www.noafx.com
NoaFX IB contest period starts from December 15th, 2015 to March 23rd,2016
For all inquiries please contact our Client Services:
cmigroup.co.nz/contact.php
Telephone (24 Hours) : +64 9914 3120
Capital Market Investments Limited (HQ)
Level 1, 4 Bond Street,
Wellington 6011, New Zealand
New Zealand
Telephone : +64-9914-3120 | Fax: +64-9355-0385
Company representatives' emails: Jane B <jane.b@noafx.com>
I am submitting the case against: www.noafx.com
My Case is: I have requested a withdrawal on Dec 17th 2015. On Dece 21 it was debited from my MT4 and I got a respoonse by skype from my account Agent ns_karthik1, that my funds were send on Dec 22nd with value date 23rd.
However the wire to this day has not been recieved so I kept asking noafx for aproof of transfer until on December 8th they suddenly emailed me saying the wire was not sent and that they had a massive backlog of withdrawals and my wire was scheduled to be process 3rd week of january.
I am very concered they have liquidity or other issues and have lost client funds so they cannot make withdrawals and are not telling the truth about it.
New thread in the Scam Alerts Folder:
Review is submitted by AD on 01/06/16
The company was first contacted about the issue on 01/03/16 the last contact was on 01/11/16
Details: ---------- Forwarded message ----------
From: NoaFX <support@noafx.com>
Date: 2016-01-08 9:21 GMT+01:00
Subject: Re: Reply
To: XXXXXX
Hi,
Thanks for getting in touch with NoaFX. We apologise for the confusion surrounding your withdrawal. We have checked with the accounts team and they inform us that the withdrawal has not gone out yet. We do not understand why your account manager had informed that the withdrawal had gone out (maybe he got confused with the name or something) but we can now confirm that the withdrawal did not go out yet.
The reason for this is that there was a spate of withdrawals right from the beginning of December till around year end which we did not anticipate and this has led to a backlog of pending withdrawals which we are trying to clear right now. This sudden rush of withdrawals could be due to year end holiday withdrawals or maybe due to US changing its interest rates. We are not sure of the reason. But the fact is that there have been a spate of withdrawals and we have processed the withdrawals based on differing priority and are processing the rest.
We understand your anxiety in getting your withdrawal and the delay in that and we have to profusely apologise for that. But please do understand that we will process each and every withdrawal and it is just a matter of 'when' this will happen rather than 'if' as we dont have any liquidity issues and its just a problem caused due to unanticipated withdrawals (big and small) which we are now looking to fix. We really solicit your help and cooperation in this matter until we sort this out.
We also request you to use this email thread for further queries and communication as the CS staff on chat may not have the entire picture about each withdrawal and hence may not be able to provide you with the correct withdrawal information always. Again, we assure you that we will process your withdrawal and except for the delay, there arent any issues with that.
NoaFX Customer Support
Email: support@noafx.com | web: www.noafx.com
NoaFX IB contest period starts from December 15th, 2015 to March 23rd,2016
For all inquiries please contact our Client Services:
cmigroup.co.nz/contact.php
Telephone (24 Hours) : +64 9914 3120
Capital Market Investments Limited (HQ)
Level 1, 4 Bond Street,
Wellington 6011, New Zealand
New Zealand
Telephone : +64-9914-3120 | Fax: +64-9355-0385
Company representatives' emails: Jane B <jane.b@noafx.com>