Nova Forex Reviews 130

Reply from Nova Forex

Mar 5, 2025

Hi,

Thank you for your message. We understand your frustration regarding the delay and sincerely apologize for the inconvenience caused.

Your payout is currently in the queue, and the delay is due to internal processes we are actively configuring to improve our systems. Additionally, some accounts, including yours, are under further review to ensure the payout is legitimate and fully compliant with our rules.

We take these steps seriously to protect the integrity of our platform and ensure we are paying out only valid and eligible accounts.

We appreciate your patience and understanding as we complete this process, and we assure you that as long as your account has followed our rules, your payout will be processed.

Reply from Nova Forex

Mar 4, 2025

Hi Alma,

Thank you for your message, and we completely understand your frustration. We apologize for the delay you are experiencing with your payout.

As part of our current process, some accounts are undergoing extended reviews to ensure full compliance with our rules, especially as we continue tightening security to protect the integrity of the platform. Unfortunately, this has caused additional wait times for certain payouts, including yours.

That said, your payout has been reported and is already in the queue to be processed. We are working as efficiently as possible to finalize pending requests, and as long as your account has followed the rules, you can rest assured your payout will be completed.

We truly appreciate your patience during this time and hope to have this resolved for you very soon. Please keep an eye on your email for updates!

Reply from Nova Forex

Mar 3, 2025

We understand your frustration, and we want to clarify that these accusations are not accurate.

Nova has faced unavoidable disruptions due to external factors, including brokers backing out of agreements, loss of licenses, and discontinued services to prop firms—none of which were in our control. Despite this, we have worked tirelessly to keep Nova operational when many firms in similar situations simply shut down.

To be clear:

We are not insolvent and continue to process payouts, albeit with extended review periods to ensure compliance and legitimacy of accounts.
We have not removed accounts in good standing, but rather, the challenges of multiple broker migrations forced us into difficult operational decisions, which we’ve communicated transparently.
Our priority is stabilizing Nova, clearing fraudulent activity, and protecting genuine traders who follow our rules.
We want to reassure you and others that our team remains fully committed to resolving outstanding cases. We are still here, still paying, and still working through the backlog.

We encourage you to share your account details so we can check your specific case and address it appropriately. We’re committed to doing right by traders who comply with our policies.

While we respect your right to express concerns, we ask for fairness and understanding. Most companies in our situation would have closed, but we continue to fight to serve our traders and restore trust.

Thank you.

Reply from Nova Forex

Mar 3, 2025

We completely understand your frustration and sincerely apologize for the delay you’ve experienced. We want to be as transparent as possible with you and all our traders.

The reason for the longer wait times is due to thorough extended reviews we’ve implemented. This is necessary because we’ve seen an increase in unauthorized trading activities, such as third-party account management and copy trading, which jeopardize the integrity of payouts. To protect the platform and legitimate traders, we must carefully verify accounts before processing withdrawals.

We are actively working through the queue and processing payouts daily, but these additional checks do take more time. As long as your account followed all the rules, your payout will be processed—it’s not a matter of "if," but "when."

We understand that waiting is difficult, but please know we are committed to resolving all pending payouts and stabilizing the platform for the long term. Your patience and understanding during this time mean a lot as we work to clear the backlog and move forward stronger.

If you’d like, please provide your account number so we can check the status of your request directly.

Reply from Nova Forex

Mar 3, 2025

We have recently identified a serious exploit where certain users were manipulating the payment system to create accounts fraudulently. A patch has already been applied, and further improvements will be implemented during our scheduled maintenance.

After a thorough investigation, 186 users were confirmed to have participated in this exploit, some creating multiple accounts through these unauthorized methods. As a result, we have deleted the trading accounts connected to these activities to protect the platform and our legitimate traders.

If your account was affected, it is likely linked to this exploit. If you believe this was done in error and that your account was created properly without taking part in any system manipulation, please provide your full details and payment confirmation so our team can recheck your case.

We remain committed to maintaining fairness and transparency for all traders and must take firm action to protect the integrity of the platform.

Reply from Nova Forex

Feb 28, 2025

We understand your frustration regarding the delay in your payout, and we sincerely apologize for any inconvenience caused.

Your withdrawal has been approved, and we are working through processing all pending payouts. Some accounts undergo extended review for compliance and security checks, which can take longer than expected. However, as long as your trading activity follows the rules, you will receive your payout.

We have escalated your case for priority review, and we will provide an update as soon as possible.

We appreciate your patience and your trust in us as we work toward improving our payout processing times.

Reply from Nova Forex

Feb 27, 2025

We understand your frustration regarding the delay in your payout, and we appreciate your patience while we work through processing requests.

Your account is currently in the queue for review and processing. While most payouts are processed within the expected timeframe, some accounts undergo additional reviews to ensure they meet all the required conditions.

If you followed all trading rules, you will receive your payout. We do not withhold payments from traders who comply with our policies. Our goal is to streamline and improve processing times, and we are actively working on reducing delays.

We will escalate your case again and update you as soon as possible. Thank you for your patience.

Reply from Nova Forex

Feb 27, 2025

We completely understand the frustration caused by delays, and we sincerely apologize for any inconvenience your son has faced.

Regarding the missing funded account, we have notified our team to check on the status of the second account, and we will work on resolving this as soon as possible.

As for the migration of old accounts, we have explained in previous responses that this process has faced setbacks due to factors outside of our control. While other firms shut down under similar circumstances, we have remained committed to finding solutions—even offering discounts and structuring a long-term plan to reintroduce traders to the new platform.

We understand that waiting is frustrating, but we want to be fully transparent—our top priority is ensuring stability first, and then gradually onboarding traders from the previous platforms. This is not about neglecting traders, but about making sure that when we migrate accounts, we do it in a way that ensures long-term sustainability.

If your son’s funded account issue has not been resolved yet, please have him reach out to support again with his details, and we will ensure it is followed up on.

Reply from Nova Forex

Feb 27, 2025

We understand your frustration and acknowledge the difficulties that have come with multiple migrations. However, it is important to clarify that these migrations were not initiated by Nova, but rather by brokers backing out, losing their licenses, or ceasing services to prop firms. These were circumstances completely out of our control, yet we have continued to push forward to keep Nova running when many other firms would have simply shut down.

Regarding your specific case:

Eightcap was responsible for the management of accounts, collection of funds, and processing of payouts, as per our agreement with them. Nova’s role was limited to marketing and driving sales.
When Eightcap backed out of the agreement, they left both Nova and its traders in a difficult position, forcing another migration and creating the delays you're experiencing.

Reply from Nova Forex

Feb 21, 2025

We sincerely apologize for the frustration this situation has caused you. While Nova has undergone multiple transitions due to broker complications, we have remained committed to resolving outstanding issues where possible.

If your payout request falls under Manta/FXCH, and it has met all the required rules, we will add it to the queue for review. Please provide your account number so that we can track your case and verify its status.

We understand that there have been delays, and we acknowledge the challenges this has caused for many traders. However, the previous broker was responsible for managing accounts and payouts before the migration. If your account was under the previous provider, payouts were their responsibility as per the agreement.

For non-FXCH/Manta accounts, the 50% discount was offered as an alternative for traders who did not qualify for migration due to contractual limitations with past brokers. While we know this may not be the solution everyone hoped for, it was the best we could offer under the circumstances.

Again, if your account is eligible for payout under Manta/FXCH, send us your account number, and we will escalate your case for review.

Reply from Nova Forex

Feb 24, 2025

We apologize for the delay. Some payouts are currently under extended review, which may take additional time to ensure compliance with our rules. We are working diligently to process all pending payments as quickly as possible.

If you can provide your account number, we will check its status and update you accordingly. Rest assured, if all rules have been followed, you will receive your payout.

We appreciate your patience and understanding. Let us know how we can assist further.

Reply from Nova Forex

Feb 19, 2025

We would appreciate it if you could provide more details regarding your experience so we can properly address your concerns. If you have a specific issue with your account, please share your account number and any relevant information so we can look into it.

We are always transparent about the challenges we’ve faced and the steps we’re taking to improve the platform. If there was a technical issue, we’d be happy to investigate and clarify what happened. Let us know how we can assist you.

Reply from Nova Forex

Feb 19, 2025

We understand your frustration regarding the multiple migrations, and we want to assure you that these disruptions were never our intention. The reason for the transitions was due to external factors beyond our control, including brokers backing out of agreements, losing licenses, or ceasing their services to prop firms entirely. Unfortunately, each migration affected both traders and us significantly.

Despite these challenges, we did not shut down like many other firms. Instead, we kept pushing forward, working to find solutions so that we could continue to serve traders long-term. We recognize that some traders have had extended downtime, and while we cannot undo the past, we are actively working on stabilizing operations so we can properly address affected traders.

If you are still waiting for migration updates, we are prioritizing risk management and financial recovery first to ensure the long-term sustainability of Nova. Once this is in place, we will gradually begin bringing traders back in.

We appreciate your patience, and while it may not be the response you hoped for, we have not forgotten about you—and we are working towards a structured solution. If you need further clarification, feel free to reach out.

Reply from Nova Forex

Feb 10, 2025

We understand your frustration, and we want to provide full transparency regarding what happened.

The previous platform you were on, DXTrade, was managed by a third-party broker that backed out of its agreement. Under this agreement, Nova was responsible for marketing and driving sales, while the broker was responsible for account management, payouts, and platform operations. Unfortunately, when they pulled out, it left us in a very difficult position—one that was completely out of our control.

Rather than shutting down like many other firms that faced similar situations, we made the decision to rebuild and bring everything in-house under our own proprietary platform. This means we now fully control account management and payouts, reducing the risks associated with third-party brokers.

Because of the financial strain caused by multiple broker migrations, we had to prioritize how we handle previous clients. Full-scale migration of all accounts at once is not feasible at this time. Instead, we have offered a 50% discount to help traders transition onto the new platform without having to pay full price again. While this is not a perfect solution, it is the best we can offer right now as we work toward long-term stability.

Our priority remains to stabilize Nova so that we can continue serving traders in the future. We have not forgotten about our old clients, and as we recover, we will explore options to assist them further.

We appreciate your understanding and hope you can see that we are doing everything possible to make this right despite the challenges. Let us know if you have any further questions.

Best regards,
Nova Funding Team