Faizan Hanif
Recruit
- Messages
- 17
WHAT RULE WAS EXACTLY VIOLATED BY ME?
Resolved - Nordfx
- Thread starter Faizan Hanif
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- nordfx.com
4evermaat
2nd Lieutenant
- Messages
- 2,709
@Faizan Hanif Unlikely you will get any straight answer from NordFx. There is a reason why ESMA and other jurisdictions banned bonuses of this nature. A "real" otc fx brokerage does not need to attract clients with such gimmicks. And it is unethical to tie withdrawals of any principle +/- profits/losses to any bonus threshold.
A quick look at nordFx shows that they do not have any worthwhile regulation. I wouldn't recommend most retail traders go via offshore broker for anything other than a $50-100 or so in a cent account. At least if you value your hard earned cash.
A quick look at nordFx shows that they do not have any worthwhile regulation. I wouldn't recommend most retail traders go via offshore broker for anything other than a $50-100 or so in a cent account. At least if you value your hard earned cash.
Faizan Hanif
Recruit
- Messages
- 17
If you lose your money then they are your friends and answer tour email within 10 minutes..once you make money they block your account and never replay to any of your messages .. and the worst thing is that this so called Nordfx guy is lying and telling me that support has sent me answer while they have been 100% ignoring my messages, i know that i did not break any trading rule and my whole trading history in this account is published in this thread to anyone to read my trades were 100% legal but my only fault is that i was profitable, i will work with fpa until my case goes to public voting so all traders know how Nordfx scam its client who trusted them with their money..i hope FPA move my case forward.
4evermaat
2nd Lieutenant
- Messages
- 2,709
I am very familiar with pretty much all of the tricks of the trade, see this video for a good example of the lengths brokers will go to trap their clients:
It's ultimately wiser to go with a more professional route with a real PoP or a retail broker who does verifiably sends your flow onwards. They are there to work with you, not sabotage your deposits.
Last edited:
Faizan Hanif
Recruit
- Messages
- 17
If you lose your money then they are your friends and answer tour email within 10 minutes..once you make money they block your account and never replay to any of your messages .. and the worst thing is that this so called Nordfx guy is lying and telling me that support has sent me answer while they have been 100% ignoring my messages, i know that i did not break any trading rule and my whole trading history in this account is published in this thread to anyone to read my trades were 100% legal but my only fault is that i was profitable, i will work with fpa until my case goes to public voting so all traders know how Nordfx scam its client who trusted them with their money..i hope FPA move my case forward.
Hello 4evermaat ,it looks like all this tricks are not enough for them if manage to make profit after all this they simply tell you that you broke the rules without even naming that rule and then block your account.
AsstModerator
FPA Forums and Reviews Admin
- Messages
- 5,745
Stan,
I've banned the "happy client" multi you created. Now please answer Faizan's question about what rule you claim he violated.
I've banned the "happy client" multi you created. Now please answer Faizan's question about what rule you claim he violated.
Faizan Hanif
Recruit
- Messages
- 17
I sent a message yesterday to norrdfx inviting them to the thread till now they are totally ifnoring
Attachments
Stan NordFX
NordFX Representative
- Messages
- 712
Dear Sirs,
Our company is always honest and open to clients. Therefore, we expect that the client, for his part, will also treat us honestly and respectfully, trading in the framework of generally accepted industry rules.
At the same time, art.6.6 of the Client Agreement (https://nordfx.com/download/1506411209/client_agreement_en.pdf) says that
“NordFX Is entitled to suspend, and make internal checks and investigations in respect of, any activity transacted through the Client’s trading account in the event that NordFX has formed a view that such transaction is in breach of any term and condition of this Agreement, or is fraudulent or otherwise illegal. Such checks and investigations may include… the analysis of all deposits and withdrawals made through the trading account… etc. The account so suspended will not be activated by NordFX unless and until the internal checks and investigations have been completed to reasonable satisfaction of NordFX in order to reactivate the account.”
Account suspension and such checks are carried out by us, among other cases, if the company suspects that the client is trying to "launder" the received bonus by conducting multidirectional transactions on two or more accounts opened with different brokers.
As you know, a typical sign of "laundering" is opening an account, getting a bonus, making one or two large transactions, and then a series of significantly smaller filling transactions, after which the account is closed and the funds are withdrawn.
In order to prevent such actions, the Rules for receiving bonus (https://nordfx.com/promo/bonus55.ht...ub3JkZnguY29tL2JvbnVzZXMuaHRtbA%3D%3D&lang=en)
have article 11 which stipulates that:
“If NordFX suspects that the customer abuses or tries to abuse the rules of the offer, the company reserves the right at own discretion to refuse, suspend or withdraw the 55% bonus and, if strictly necessary, to block the customer's account (trading will be prohibited, transactions will be cancelled, the initial deposit will be returned by bank transfer).”
We would like to draw your attention to the fact that it is only profit, the method of obtaining of which causes suspicion, is blocked. The amount of the deposit itself is returned to the client, so in fact he does not bear any financial losses.
Always ready for cooperation,
NordFX
Our company is always honest and open to clients. Therefore, we expect that the client, for his part, will also treat us honestly and respectfully, trading in the framework of generally accepted industry rules.
At the same time, art.6.6 of the Client Agreement (https://nordfx.com/download/1506411209/client_agreement_en.pdf) says that
“NordFX Is entitled to suspend, and make internal checks and investigations in respect of, any activity transacted through the Client’s trading account in the event that NordFX has formed a view that such transaction is in breach of any term and condition of this Agreement, or is fraudulent or otherwise illegal. Such checks and investigations may include… the analysis of all deposits and withdrawals made through the trading account… etc. The account so suspended will not be activated by NordFX unless and until the internal checks and investigations have been completed to reasonable satisfaction of NordFX in order to reactivate the account.”
Account suspension and such checks are carried out by us, among other cases, if the company suspects that the client is trying to "launder" the received bonus by conducting multidirectional transactions on two or more accounts opened with different brokers.
As you know, a typical sign of "laundering" is opening an account, getting a bonus, making one or two large transactions, and then a series of significantly smaller filling transactions, after which the account is closed and the funds are withdrawn.
In order to prevent such actions, the Rules for receiving bonus (https://nordfx.com/promo/bonus55.ht...ub3JkZnguY29tL2JvbnVzZXMuaHRtbA%3D%3D&lang=en)
have article 11 which stipulates that:
“If NordFX suspects that the customer abuses or tries to abuse the rules of the offer, the company reserves the right at own discretion to refuse, suspend or withdraw the 55% bonus and, if strictly necessary, to block the customer's account (trading will be prohibited, transactions will be cancelled, the initial deposit will be returned by bank transfer).”
We would like to draw your attention to the fact that it is only profit, the method of obtaining of which causes suspicion, is blocked. The amount of the deposit itself is returned to the client, so in fact he does not bear any financial losses.
Always ready for cooperation,
NordFX
Faizan Hanif
Recruit
- Messages
- 17
First, your company is not always (honest and open to clients),your company is deceitful and disrespectful to clients and the evidence of that is the following
-Your company have ignored and message or email i sent to them asking to explain my situation until i came here to fpa to expose your scam then u started responding and the worst thing that you started by lying about it and saying that you gave me an answer, that is not open or honest that is disrespectful and typical scam behaviour.
- You specially registered a fake account here in fpa and pretended to be a happy client defending yourself and then AssModerator the forum admin caught you and banned your account which you registered from the same IP, again that is not open or honest , that is manipulative and childish and when you act that way and that is Nordfx company behaviour you expect all traders to be as lying and manipulative as you so that is the treatment i think you expect from clients not the one you mentioned above.
Second ,you say that i have (Laundered) bonus and the only evidence you have is my trading battern which i already published here for everyone to see .. i specially deposited to that account to trade Non-Farm unemployment effect and sold usdjpy with 1 lot right after the market settled a direction and i was profitable then continued trading for a week some of my trades were successful and others were not..what exactly is wrong about that, YES of course the mistake is that i was profitable and as you know the typical sign of a scam broker is that when you
-Trade one large order they say you are hunting bonus.
-Trade tow equal orders they say you are hunting bonus
-Trade one or tow large order and multiple small orders they say you are hunting bonus
Whatever the trading style you have no matter how many orders you place and what time it takes thwy will always find a way to say this lame excuse to block tour account and take away your profit .i hope you could show me what trading pattern exactly you think is not laundering bonus. And of course you never block account of losing traders only profitable ones.
Third you are bragging about returning my deposit, i do not want only my deposit back i do not trade forex and encounter a huge risk against my money to get my deposit back only when i win and get nothing when i lose..i want you to pay me my hard earned profit but of course with Nordfx as Their representative is proudly announcing (when you win you only get your deposit back when you lose you get nothing.)
I will continue with this case until i go to public voting again so traders decide who is right and wrong and don’t try to create fake accounts again to vote as you will easily get caught.
Stan NordFX
NordFX Representative
- Messages
- 712
Mr. Hammad Aman,
In response to your letters, we would like to remind you that by opening a trading account with NFX Capital VU Inc., you have given unconditional consent to comply with all the conditions stipulated in the Client Agreement (https://nordfx.com/download/1506411209/client_agreement_en.pdf ). In accordance with paragraph 6.6. of this Agreement, we have a full and unconditional right to block your account in case of any suspicion as to the legitimacy of your transactions, and conduct an appropriate investigation.
Thus, in this regard, all our actions have been absolutely legitimate.
After your clarifications, which you have given today, on September 27, 2017, at the website https://www.forexpeacearmy.com , we have once again studied carefully all the transactions in your account No.1100287. Unfortunately, in their structure, they are very similar to one of the most common schemes for "laundering" a bonus, and that is why they aroused our suspicions.
So, having just added funds to the account, on September 1, 2017, with a deposit of only $ 500 and a bonus of 55%, you immediately made a transaction with a volume of 1 lot, which, according to the generally accepted standards on Forex, is not just a risky, but a super-risky operation, and can immediately lead to a complete loss of the deposit.
It is this that suggests that this transaction was hedged from another broker.
After you have closed this transaction with profit, all your other transactions had volume 0.05 - 0.1 lots, that is, 10-20 times less than the initial one. And less than 2 weeks after the trading started, you submitted a request to withdraw ALL the funds from your account.
That is, despite the obvious benefit for you, your cooperation with NordFX lasted for only about 14 days.
Such actions pretty much resemble the bonus "laundering" operation using two differently directed transactions.
Mr. Hammad Aman,
as you can see, there is a very fine line between the honest trade and a fraud aimed at "laundering" the bonus. Unfortunately, your explanations have not convinced us that your trade corresponds to the norms generally accepted in Forex. However, when there are doubts, we always try to resolve them in favor of the trader. That is why we have decided to pay you the profit of $ 648, which you are claiming.
This amount has been transferred to you on September 28, 2017.
However, our company is obliged to stop providing you with our services.
We rely on your understanding and hope that you will be able to find another broker who will be satisfied with such a style of trading as yours.
Yours faithfully,
NordFX
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