Nord FX withdrawal issue

NordFX are outright SCAMMERS when it comes to you making profits with them. They have outright STOLEN 2000 Euro of profits Ive made with them.

I have been trading with them since May 2016 and have become pretty profitable the last 2 months finally with my scalping strategy (which is permitted on all accounts like their website explicitly states).

Now it was time to withdraw some of my profits since I desperately needed the money I traded so hard for, sitting in front of the screen for 10 hours+ a day for months. When I requested the withdrawal, 10(!) minutes later Ive received this email from them:

"Hello.
We inform you that your trading accounts 1047186, 1047380, 1070661 and 1070662 were blocked for the client agreement terms violation.
Initial funds were returned.
--
Your sincerely
NordFx Finance Dept., Sergey,"

Screenshot: https://s31.postimg.org/pa4p26017/nordfx_email.jpg

They outright blocked ALL my trading accounts I had with them! I had the Micro, the Standard and all the others since I wanted to try them all out. But Ive requested the withdrawal only from the Standard account, yet they also have closed the Micro which also had money in it but where I didnt trade for a while. I cant get the money out of the micro account either since they have blocked backend access on their website for me completely for ALL accounts:

"Unfortunately, you can not log in to trader's cabinet: your account has been blocked"

Screenshot: https://s31.postimg.org/n3bfnpnmz/nordfx_blocked.jpg

All emails I sent them and asking what terms I have violated did stay unanswered - as well as any further communication attempts with them via email or their chat. Its kind of unbelievable that they say I have violated the client agreement, yet dont even mention which part of it (I guess it was the part of "profitable trading is forbidden under any circumstances"). It also adds to their "professionalism" that they dont even mention complete names in their emails, just "Sergey", so that you cant specifically refer to a person later on or report them to the police.

So I did some further research and found that they are actually based out of Russia. Yes, the website says Mauritius and what not, but its clearly operated out of Russia if looking at the IPs in their emails where theyve originated from:

"Received: from windows-8.1.shared (user-62-68-147-63.tomtelnet.ru [62.68.147.63])"

Screenshot: https://s31.postimg.org/mzvuvudgr/no...ail_header.jpg

So their "office" (its nothing more than a PO box actually) in Mauritius is nothing less than a simple attempt to hide the fact that they are from Russia. What is even more interesting is that they mention they are registered with FSC Mauritius and are allowed to provide financial services there. A call to the FSC I did today confirmed that they are NOT LICENSED with them NOR ARE ALLOWED TO OFFER FINANCIAL SERVICES in Mauritius! The FSC will start an investigation on their operations right away as they told me.

So their whole operation they have there is based on a complete fake and outright lies about being registered with the FSC. And on top, if you make profits, they will simply not send them to you and close your accounts instead. Hence I can only HIGHLY recommend to stay away from them under these circumstances. You can rather "donate" your money to some charity organization than to spend it on this fraudulent Russian operation.

P.S.: After some more googling, it seems I am not the only one, just looking at a few sites reveals what they are really after (YOUR MONEY):
http://www.tradecomplaint.com/search...pattern,Nordfx

If what you're saying is correct, you'll need to provide more solid proof. Like your platform's trading activity, and most importantly, report them to fscmauritius.org

Reply!

If you deposited by card contact your bank and request a charge back should still be within time limit. At least you would get initial deposit back.

Next time use a broker regulated in the UK.

Good luck.

Contact forex peace army so that a case is opened and traders are asked to vote. If they obtain a guilty verdict, it will go a long way to worn others.

And invite NordFX to discuss the case.

Will they release initial deposit or they blocked it too?? It will be a good lesson to you and always make your due diligence "bucketshop check". There are too much dirty outfits somewhere in scam counties which position themselves as trustworthy firms.

I have asked my bank to do a charge back already since the deposit has not been returned. Also I cant provide more proof than I did since I cant login to my trading account anymore, its all been blocked. But I think its easy to see that the email (and headers) as well as not being able to login to the website are authentic, thats why I made screenshots of these instead just to claim it in text. However, access to all MT4 accounts has been blocked, so I cant provide any history.

Yes, I am in contact with FPA already too. There has been zero answers by Nord FX still (even posted in in their thread here and even on their Facebook, they dont care: http://www.forexfactory.com/showthre...=483470&page=7 & https://www.facebook.com/NordFX/), they give a damn to answer. A little more research on the web brings up that they seem to do this to almost all the traders that are profitable with them.

Yes, as mentioned I contacted the FSC Mauritius about this, its in my original post already, they are NOT REGISTERED with the FSC, its fake, hence the FSC cant do much about that. But at least they will start a general investigation on Nord FX since they are not allowed to offer financial services in Mauritius at all, which is good.

Thanks for all the recommendations from everyone here, I already brought everything "on the way", this is just a mere warning / scam report for everyone considering to trade with them.

Glad to know. I hope you recover everything.

Thanks..

As I said, these fraudsters don´t even hold a license with FSC Mauritius as they so boldly claim on their website. After looking at the register of FSC at:

https://publicregister.fscmauritius....ViewListPR.xml

It clearly shows that they are NOT listed there. As mentioned, I´ve called up the FSC via phone and they confirm that Nord FX is not licensed by them and that they are not allowed to do business in Mauritius. They will start an investigation on them now for falsely claiming to be FSC regulated, which is a serious crime.

ONLY use a FCA regulated UK broker in the future... Believe me, their the best... At the very worst your account will be terminated (which is very rare) but you would receive your initial deposit as well as any profits made...

I love how you say that like a financial licence in Mauritius is worth the piece of paper its written on. Honestly, what do you expect trading with a bucketshop 'based out of' Mauritius.

Like LEXngton said, stick with jurisdictions you trust. FCA in the UK and ASIC brokers in Australia.

Haha yea, agree about the worthiness about a FSC license for sure The FSC guy I talked to on the phone sounded as trustworthy as those Nord FX emails do

I noticed this issue on forex peace army too and i hope that the issue get resolved.

No offense, but who gave you the idea that any of those regulators are safe?
FXCM is regulated by FCA, and you know their problems on these forums, which I won't mention before Jason comes on this thread and spams it.

This should serve as a reminder to others who do business with bucketshops. Curious how the FPA case will progress, seeing that NordFX advertises heavily on FPA.

That is very scary!
Geektrader, I hope you will be able to recover your money.

No offense taken lol.

99.99% of complaints against brokers are from pests who can't hack trading. The regulator isn't there to deal with their sob stories of poor risk management, single trades that they don't think were executed at the level they wanted or whether the broker who says he's an ECN exposes themselves to any risk or not.

The regulator is there to stop someone setting up a business in Mauritius to steal your money in front of your eyes.

If you can't trust that a broker from Australia or the UK, then why are you even in retail FX?
If you can't trust that a broker from Australia or the UK is going to scam you and steal your money, then why are you even in retail FX?

Actually, that's why its much wiser to deposit low amounts of money like a couple of hundred bucks and use a very high leverage in order to trade. Do you know what makes me angry? That scam brokers ask you for $2,000 deposits and above all, to take your money ''legally''. And still, that's not my main point, there are MUCH worse ways to identify a broker if their being a complete smart$$$. Like ''In order to protect your fund and deposit from blowing it all, you can only use 1:100 leverage unless you deposit $1,000 and above.'' What is that? Lol. I'm not even worried about the money, I'm just curious how low these retail brokers can get.

There is no common sense in picking a broker. It isn't a reflection of the forex industry, it's a reflection on humanity. People are dumb, full stop.

Trade with whichever ASIC or FCA regulated, ECN forex broker that you see treats your spreads, executions and withdrawals properly. Avoid bucketshops regulated off the coast of Africa or in the Caribbean who whether they are ECN or not, wont pay out your winnings anyway because they have no pressure behind them to do it!

How hard is it guys?

Don´t play the mega-smart-ass here with your 21 posts. In the last 8 years I´ve tested about 115 brokers and I´ve been scammed by ASIC and FSA regulated brokers as well. The regulators don´t really care if you are a small trader, that´s not different for the ASIC and FSA either!