Original FPA Traders Court Submission:
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:
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>
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:
- https://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>
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