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GUILTY Case# 2012-042 | sanito vs nano4x.com/en/

Discussion in 'Guilty Verdicts' started by sanito, May 3, 2012.

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Based on the available evidence, do you believe that Nano4x.com is guilty?

Poll closed May 27, 2012.
  1. Guilty

    62 vote(s)
    100.0%
  2. Not Guilty

    0 vote(s)
    0.0%
  1. sanito

    sanito Recruit

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    Original FPA Traders Court Submission by sanito:

    My case is : "Withdrawal from Nano4x"


    Dear Moderator,
    What is the next step after Pool Results: Guilty ?

    I am submitting the case against: nano4x.com/en/

    My Case is: Nano4x Support mentioned in its email dated 10 Oct 2011 that: "You can register as an IB and get rebates from your trading account. That is not prevented in Nano4x".

    Nano4x Affiliate Dept mentioned in its email dated 20 Oct 2011 that: "As our IB you will get Rewards from each trade (from 10 USD per lot)".

    In November 2011 I open my first trading account with Nano4x #688178 and wire transfer my initial deposit 2000 USD.
    Mid January 2012 my robot can operate very profitable with my second trading account with Nano4x #688508.
    Around 12 Feb 2012 Nano4x increased the spreads more than 0.6 pips so that my robot cannot operate further.
    Thereafter I decided to request full withdrawal from Nano4x for the amount of 11647 USD.

    After sending several emails to ask my withdrawal request I got response from Nano4x:
    - if you are partner and have a trading account you can have rebates only 3 USD, not 10 USD as you had.
    - we were unable to proceed with operations on your duplicate hedge account due to insufficient of funds.
    - our duplicate hedge account were drawdowned with your trading, also because of insufficient of funds.
    - In spite of losing money on our hedge account we able to give you: credit = 11467 - 4999 + 4999/3.33 = 7969 USD, with 2 requirements:
    1. You need to make 797 Lots before you can WD full sum from your account;
    2. Till 797 Lots we will not pay you rebates.

    I replied to Nano4x in my email dated 9 Apr 2012:
    - Please pay me and transfer to my bank account only my initial deposit and my profits = 11647 - 4999 = 6648 USD.
    - Please avoid all the rebates of 4999 USD and close my accounts: #687895, #688178 and #688508 because my robot cannot operate with the current spreads.

    I followed with my email dated 12 Apr 2012:
    - For my withdrawal request Ref: 893312, dated 20 Feb 2012, for the amount of 11647.09 USD, please
    pay me and transfer to my bank account not less than 6648 USD and not later than 17 April 2012.
    - Otherwise, thereafter I will register Nano4x into Scam Alerts Folder of Forex Peace Army (FPA),
    and then if still necessary I am going to file the case to the FPA Traders Court.

    Until now Nano4x does not process my withdrawal request. My last 3 tickets in Nano4x client portal
    have been closed by them without any comment and answer.

    Today I can connect to open my Nano4x account #688508 (balance = zero), but I cannot connect to open my Nano4x account #688178 (balance = 11647 USD) with an indication:"Invalid Account".
    I don't know, what is the meaning of this Nano4x action ?

    New thread in the Scam Alerts Folder:
    www.forexpeacearmy.com/forex-forum/scam-alerts-folder/19799-withdrawal-nano4x.html#post86792

    Review is submitted by Sanito on 05/01/12

    The company was first contacted about the issue on 04/26/12, the last contact was on 05/02/12

    Details: No reply and no comment.

    Company representatives' emails:
    Ryan Elmers <support@nano4x.com>
    Mike Ferguson <finance@nano4x.com>
    Alex Johnson <affiliate@nano4x.com>

    Attached Files:

    1. Account #688178 on 26-Apr-2012.JPG
    2. Nano4x Client Portal.JPG

     
    #1 sanito, May 3, 2012
    Last edited: Jun 8, 2012
  2. Pharaoh

    Pharaoh Colonel

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    The Scam Alerts folder discussion covers this pretty well. I say we go straight to inviting the broker to join the discussion.
     
  3. Romeo

    Romeo Sergeant

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    I hope they will accept the invitation, but after seeing the publication of FSC warning against them, I doubt that they will want to join the discussion. I think they are packing their bags and getting ready to fall off the web.
     
  4. Romeo

    Romeo Sergeant

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    Let's remind the Moderator to send them an invitation!
    MOD!!!
     
  5. sanito

    sanito Recruit

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    Hello Moderator,
    What is the next step of this discussion ?
    Can FPA invite Nano4x to join this discussion ?
     
  6. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    I've just pointed them to your thread in Scam Alerts. I asked them to reply there. I also asked them about that FSC warning.
     
  7. sanito

    sanito Recruit

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    Thanks and regards.
     
  8. Topro

    Topro Recruit

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    Still waiting Nano for a response.
     
  9. Galina_K

    Galina_K Private, 1st Class

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    Another scam broker, stealing money from his clients.
    Guilty.
     
  10. Onyebuchim C. Obike

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    It's quite unfortunate. Traders are highly advised to conduct due deligence checks on brokers before signing up with them.
    History, Intergrity, Regulation and general positive comments from well recognised bodies like FPA should be used as a guide in choosing a broker.

    As long as there is a history of FSC warning then this is a clear guilty case.
     

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