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Next-consultancy.com (Rizwan Awan) Review

Updated: Jun 16, 2015
SCAM
2.818 · 8 REVIEWS
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2009-05-01: The FPA has confirmed multiple scam complaints against Rizwan Awan and Next Consultancy.

Next-Consultancy is blacklisted by the Forex Peace Army. We recommend revoking any LPOA you have have with this company or an company that has Rizwan Awan involved.

 

Website is down.  Rizwan is known for using fake names and setting up other websites.  He promises to guarantee managed accounts against losses, bit never pays.  Beware of any account manager guaranteeing profits or promising to pay for any losses.  These are sure signs of a scam.

Next-consultancy.com (Rizwan Awan)

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Court cases

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty1
Case IDFiledCase nameVerdict
20092009-05-01FPA Scam Confirmation against Rizwan Awan and Next-Consultancyguilty

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Scam!
2.818 · 8 REVIEWS
Forex Peace Army
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Chicago,
Jul 24, 2009,
Guest

7-24-2009

Rizwan Awan is a Ponzi Scheme artist. He strategy is to delay and push off communication to decive one. He should not be trusted, never does what he says he going to do and you have been conned by a pro..stay away.

G B
USA,
May 11, 2009,
Guest

5-11-2009

There has been no word from Rizwan Awan the last 4 weeks. That figures. He has been determined a Scam and blacklisted by the FPA on their web site with 40,000 traders world wide for the world to know about his lies, his negligence and scam operation from his Next Consulting web site. He conned me out of $300,000.00 US dollars. So I filed with the FPA, CFTC, FBI, IRS, IOSCO, NFA all agencies having anytjhing to do with Forex and monies so anyone and everyone is alerted he is a scam and con artist.
USA,
May 1, 2009,
Guest

Issue escalated to Traders Court FPA Scam Confirmation against Rizwan Awan and Next-Consultancy | GUILTY
Rizwan Awan (From Pakistan)
Owner of WWW.NextConsulting.com
Forex Trader

I sent Rizwan $185,000 in October which he traded to $305,000 Dec 3rd and lost it all in one trade not using any stops or risk management. Rizwan is negligent of all trading laws by not fully disclosing what he really intended to do. The IOSCO needs to check him out. He is blacklisted now due to my efforts until he pays me back in full. If there was no Forex Peace Armey we would all be screwed. Our government does not protect us from these criminals, we pay taxes for nothing.
There is a whole agency with the CFTC, The NFA, The FBI and all the laws and rules do not stop these criminals that are not compliant or licensed.

Everyone here not licensed with a series 3, 34, 7 you should ask them and run from them. Keep your money in a mattress, fools gold these traders.

2009-05-01 The FPA confirms this complaint as SCAM.

2009-04-22 Investigation Pending SCAMMER SCAMMER SCAMMER SCAMMER!!!!!!!!!!!!!

RIZWAN AWAN IS A LIAR,NEVER TO BE TRUSTED run run run
CANNOT BE TRUSTED, RIZWAN IS NO BUSINESS MAN, SAYS ONE THING DOES ANOTHER.

HE PROMISES PROMISES PROMISES FOR 5 MONTHS AND ALL HE WILL DO IS LOSE LOSE LOSE YOUR MONEY

HE SAID HE WAS SENDING A WIRE LAST WEEK 4/18/2009 AS RESTITUTION FOR MY ACCOUNT LOSS AND THAT NEVER HAPPENED. ASKED FOR MY BANK ACCOUNT. FPA HAS ALL EMAILS BACK AND FORTH.

WHAT HAPPENED WAS HE RUNS A GUARANTEE ON ALL MONIES OVER $250,000.00 IN AN ACCOUNT. HE LIED ABOUT THE GUARANTEE, HIS STAFF LIED BACK TO US IN NOVEBER 2008, HIS WEB SITE IS DEAD, NOT UPDATED, HE COMMUNICATES ONCE A WEEK WITH YOU, RUN RUN RUN WE PUT IN A LUMP AND HE TRADED IT UP TO $250,000 AND THEN $305,000 AND IN ONE TRADE OVER A 3 DAY PERIOD LOST IT ALL, NO STOPS, 110% DRAWDOWN

SCAM ALERT!! SCAM ALERT!! SCAM ALERT!!

FPA Scam Investigation Committee Note: This case is being investigated by the FPA. Rizwan now has a firm deadline to fulfill his promises.


2009-02-11 1 Star Rizwan Awan owner of Next Consulting has not started to trade my MIG account 70802 yet as of my loss of $305,000.00 USD on 12/3/2008. If you had a loss with Next Consulting the last 8 months, please contact the Peace Army moderator below and forward your email so we can communicate. The US agencies are all over any corruption now of traders. They want to hear from us. The US agencies are on high alert on any fraud, they will talk to you, they will come to your house..fyi

More. Community discussion of this issue >>

London,
Jan 28, 2009,
Guest

I wrote before. I have just found out that their website has malicious hack software. So do not visit their website.

Your computer might be infected. Tried calling and no one is picking up. The company is not located in England. Its a virtual office. The owner is living and hiding somewhere else. I would recommend you stay away as I spoke to a former client that has expressed concern. Half accounts are traded differently so one account will be buy and other account will be in sell positions. One client will be happy and other client will be unhappy.
London,
Jan 8, 2009,
Guest

I will not give it stars as I have not tried their service. I tried ringing these people but they dont answer phone calls nor emails. I think its just run by one man. The firm is not even regulated in England.

I wasted 1 months trying to contact this company thinking that they must be very good. I am happy I did not waste any more time and moved on. I did however find another good company where I flew over to meet them during my search for a company to invest in.

I hope your money will be recovered J Adams.
Australia,
Jul 31, 2008,
Guest

Augustus.
How does a managed fund know if you are a serious investor or not, if it doesn't reply to your enquiries?
Certainly not a good start if you hope to gain more clients, perhaps they don't. How's the irony with their company name, notably the consultancy part, there wasn't any !
I'm glad I didn't waste to much time with them, I'm more than happy with where I've invested the funds now.
Cheers....
Paul S..

United Kingdom,
Jun 21, 2008,
Guest

I am one of existing clients of Next Consulting and willing to share my viewpoint. I will try to be neutral and fair at my level best.

I have 200k equity under their management as normal fx managed accounts. Month over month returns are better than any one can dream of. I can say consistency is their specialty.

As long as answering to new queries, especially the new ones; they are lazy. However, perhaps, they only seek serious investors. Once an investor becomes part of them, rewards are excellent, customer care and money wise both.

I don't know much about their fixed income accounts. By the way I know that Next Consulting does not hold funds and European broker is custodian of funds. Investor opens its own account at broker and signs LPOA. Its common in the industry, except fixed returns. The problem is in some countries fixed returns are not legal. Therefore you should check before setting up anything. Other than that, everything sounds practical and sensible.

Overall, I recommend them as better than the best and professional traders around.
Tulsa, OK,
May 30, 2008,
Guest

I would advise people to read about their fixed rate or guaranteed notes. There is something not right here. If you talk to them, ask about their historic 70+% draw down. Naturally, they won't talk about this unless you press for the information. Then ask about the equity that they have under management. Now read about their fixed program again - it doesn't add up and could be a scam (since I don't know I won't post a rating).
Dundee, Scotland,
May 14, 2008,
Guest

Issue escalated to Traders Court FPA Scam Confirmation against Rizwan Awan and Next-Consultancy | GUILTY
2009-05-01 Investigations update This review was originally removed on 2008-05-30 during negotiations with Next Consultancy. After all this time, no mony has been paid and this scam complaint is confirmed.

In November 2007 I paid nearly $150,000 to this company on the basis of a guaranteed return of 10% per month, with the equity guaranteed protected. I have requested money out for three months but have received nothing, just excuses and promises.

More. Community discussion of this issue >>

Australia,
Mar 16, 2008,
Guest

I had a similar issue to Jerry in the UK.
I sent probably 4-5 emails to next consultancy asking about their managed fund over a period of a few weeks, received a one line response to one email and that was it.
I did actually get to speak with a lady over the phone, however she re-directed me to an alternative email address. When I used that email address, it auto responded to use the first email address I had used previously. That was enough for me, in the end I gave up and I agree with Jerry, why would you risk your "hard earned" on a company who shows little apparent interest.
Cheers..