GUILTY Case# 2016-029 | Pierre3 vs noafx.com

Based on the available evidence, do you believe that NoaFx.com is Guilty?

  • Guilty

    Votes: 66 100.0%
  • Not guilty

    Votes: 0 0.0%

  • Total voters
    66
  • Poll closed .

Pierre3

Private, 1st Class
Messages
59
Original FPA Traders Court Submission:

I am submitting the case against: www.noafx.com

My Case is: I opened an account in september 2015 with NOAFX (owned by Capital Market Investment ltd). The 19 th january I requested a withdraw for 7196 USD.
I chatted 4 times with them and sent some emails.The 20th january they told me withdrawal will be processed within 2-3 business days; the 21th january they told me my withdrawal has been delayed; the 22th january they told me by email my request was approved and the funds "will be reached you earliest"; the 24th january they told me "the transaction is in progress"; the 25th january by chat they told me the withdrawal will be processed within this week
I read somewhere Capital Market Investment ltd (owner of NOAFX) has been deregistred from FSPR http://www.business.govt.nz/fsp/app/ui/fsp/version/searchSummaryCompanyFSP/FSP284605/26.do
Today 28 january no more news from them

New thread in the Scam Alerts Folder:

Review is submitted by Pierre3 on 01/24/16

The company was first contacted about the issue on 01/20/16 the last contact was on 01/26/16

Details: The last reply by email was on 25 january 2015

<< We deeply apologize for the delay and inconvenience caused to you.

We have received your query regarding delay in receiving the funds from your withdrawal request.

The details on same will be checked and an update on same will be mailed to you.

Please feel free to get back to us for any assistance.>>

Company representatives' emails: NoaFX <support@noafx.com>

 

Attachments

  • NOAFX.htm
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Currently this thread is in the Case Preparation folder, so very few people can see it.

Please send the link to your public thread in Scam Alerts to every address you can find for NoaFx. Invite them to come to that thread and explain their side of the situation. Please post an update here and in your Scam Alerts thread when you've done this.
 
Currently this thread is in the Case Preparation folder, so very few people can see it.

Please send the link to your public thread in Scam Alerts to every address you can find for NoaFx. Invite them to come to that thread and explain their side of the situation. Please post an update here and in your Scam Alerts thread when you've done this.

I Have just sent the following to (''seeni.jg@noafx.com; 'danielle@noafx.com'; 'support@noafx.com'; 'info@cmigroup.co.nz')

Good afternoon,


Account 2088540878

Name Pietro Felice Binelli


The 19th january I have requested a withdrawal for 7196 USD


After 2 weeks the withdrawal and the wire transfer have not been processed


I opened a thread about Noafx , cmigroup.co.nz and Capital Market Investments NZ on forexpeacearmy


https://www.forexpeacearmy.com/community/threads/noafx-cmigroup.43821/


I invite you to join this thread to explain why my withdrawal request has not be processed


Best regards


Pietro Felice Binelli
 
Let's give them a few days to respond. Please post at update here on Monday to let me know if they wrote, called, or posted.
 
I've just sent a formal FPA invitation to NoaFX. Please post an update here in 2 days to let me know if they've contact you or not.
 
While they certainly seem dodgy, I've heard worse scam stories--where the delay is more egregious than this. Perhaps a phone conversation would clear things up. Perhaps not. On their website it says to wait 30 days before complaining to the authorities. If they are actually deregulated already, being labeled a scam on FPA may be a much stronger motivator for them to give this money back. Since they have been notified, I feel it would be wise to let the idea of virtual banishment from the world of forex sink in for about a week more. Once they're labelled a scam on FPA, they literally have nothing left to lose, so why would they give this money back?

Also, I feel like a lot of people may not give them a guilty vote if they have to vote now (before 30 days has gone by), and that would be unfortunate because they most likely are a scam. Just my two pence.
 
Don't really know if they are a scam, or if they just have a real sloppy or incompetent
back office staff. This is an organization that appears to have made several changes
over the last few years (view company background on their website), and no doubt has
had to integrate several different systems into one. Been there, seen how that works!

Under their Funding/withdrawl Methods (under Join Us tab) I note Bank Wires, Union Pay,
and Visa/Mastercard show 1-3 days for withdrawls to reflect, and other payment processors
such as Skrill, Neteller, Payza, Fasapay are instant.
These are the timelines one would expect from any well run financial institution.

I appears to me that at this time their website is the only professional thing about this
organization. The customer is king, once you lose sight of that, your business is doomed.
It seems they do not live up to their customer service claims per their webpage speil.
Will they ever get their act together? I certainly won't be placing any of my money here.
 
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