NRG steals VIP customers (managed accounts by NRG)

hSamra

Recruit
Messages
6
I started with NRGBinary.com on Feb 2014. I was offered by NRGBinary sales person Zeid Azzam to have a VIP account that will be managed by NRG. The trader Youssef Kader started work with me and we agreed on planned dates for deposits. I was getting mails from NRG system for each transaction made.

Things went well and later Youssef told me that we will switch to MT4 account. He sent me the credentials (Read Only) and I was following the transactions and we made very good progress.

On May Youssef asked to increase the deposit by $12K so that we can reach target $50K account balance in July. He also said that starting from July I can start making monthly withdrawals (the amount to be agreed later) and we continue targeting $100K.

on 16 June 2014 we reached this target.

Along this period, the average number of transactions was 3-4 per week. The amount of each transaction was perfectly matching the Market and the balance in the account.

Suddenly on 27 Jun (it was Friday) - and a few days before our target date - Youssef entered 15 transactions in 4 minutes - totally illogical transactions with so large amounts and of course the balance went down to $4K and then to negative value.

I was off on that day and I saw the transactions and sent instantly to Youssef to ask what he exactly was trying to do. I called him twice by Phone and he told me not to worry and that my money is safe and that he will call me the following Sunday.

On Sunday, Youssef said that the Market reversed (which is not true - there was no clear trend nor reversal on this day) and there was no need at all to take any risk.
It was clear that this was intentional. A beginner wouldn't do such a thing. No professional trader works without a money management plan.

Youssef asked me to make more deposits to save the account - which of course was not the answer to why he did this in the first place and which is contrary to pure simple logic (trying to save an account that was ruined deliberately by him).

I searched the net and found similar cases to mine(destroying the account balance in minutes) and were also related to NRG (I sent the URL to Youssef) and which proves that this a planned activity from NRG and not an incidental case.

I talked to Youssef many times (hope the calls are recorded by NRG) - I also sent an email to Zeid Azzam and got no response. I also sent to Graham Lance 3 mails and got no response.
I made a chat at NRG site and have a copy of this chat. The agent promised to forward my complaint to NRG officials and again I got no response.

I have full list of the transactions since I started with NRG. I have also mails from Youssef and Zeid. I have screenshots of the account when the 15 transactions were entered.

I really need full investigation of the case and need to get my account and money back.
 

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Pharaoh

Brigadier General
Messages
20,230
I see a Traders Court case. One last thing - please make a post in your case thread to confirm you are active. Several people have filed cases against NRG and disappeared.
 

FXWarriory

Banned for uncivilized conduct
Messages
373
I wonder if all of you guys who are letting account managers trade your account, is there any legal agreement signed by both parties(you and him) mentioning that?? Or is it just "trade my account and make me money" !!

Even if you file a complaint against a regulated broker, you'll get no money or compensation if there's no agreement signed because the account manager or whoever trading your account can easily say you asked them for that, they were just trying to help you, they didn't intend the losses and hadn't guarantee you any gains. Some may say they didn't trade the account or they don't know you even...unless you have some proofs!!
 
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