Nova Forex Reviews 130

Reply from Nova Forex

Feb 5, 2025

Hello,

We understand your frustration, and we want to be transparent about what happened so you have a clear understanding of the situation. Nova did not choose to migrate multiple times—these disruptions were entirely due to external broker-related issues beyond our control. However, despite these challenges, we remain committed to serving our traders, unlike many other firms that shut down at the first sign of trouble.

What Actually Happened?
Nova partnered with multiple brokers over time, but three major incidents forced us to transition platforms:

One broker lost its license with MetaQuotes, meaning they could no longer operate MetaTrader accounts.
Another broker stopped providing services to prop firms, forcing us to seek alternative solutions.
Eightcap, our most recent broker, backed out of our agreement—and this is where things became difficult.
Under our contract with Eightcap, Nova’s role was only marketing and driving sales—they were responsible for collecting funds, managing accounts, and processing payouts. When they backed out of our agreement, it left both us and traders in a difficult position as payouts and account management were no longer under our control.

We Have Not Forgotten About You
We understand that traders affected by these transitions feel abandoned, but we want to emphasize that is not the case. Unlike many firms that disappeared when faced with similar issues, we have done everything possible to keep Nova running and find ways to support our clients.

Right now, our top priority is stabilizing the platform before we can begin migrating older accounts. This means:
✔ Strengthening Nova’s financial position after the challenges caused by multiple broker failures.
✔ Addressing fraudulent chargebacks, third-party account management, and mass copy trading, which have slowed down the process.
✔ Ensuring a sustainable, long-term model that prevents these issues from happening again.

Why Offer a 50% Discount Instead of Immediate Migration?
We recognize that many traders don’t want to wait, which is why we offered a 50% discount as a way for them to transition seamlessly into the new system. This was not about profit—it was about giving traders a fair way to continue trading while we work on stabilizing the platform.

Negative Reviews Are Not Helping—They Are Slowing Things Down
We completely understand your frustration, but leaving negative reviews and labeling Nova as a scam does not help speed up your payout or migration—it only holds the company back.

We are doing our best to recover from events that were out of our hands, and unlike many firms that shut down, we are actively working on solutions for you. The faster we stabilize, the sooner we can start migrating old clients back in. The more support Nova receives, the faster we can get to you and other traders.

If you are waiting for an old payout, please escalate your case directly with Eightcap at helpdesk@nova-funding.com, as they were responsible for managing accounts and processing payments.

We appreciate your patience and hope that this explanation helps you see that we are not ignoring traders—we are doing everything possible to ensure Nova’s future and provide long-term solutions.

Best regards,

Reply from Nova Forex

Feb 3, 2025

Hello Ahmed Yacine,

Thank you for reaching out. We apologize for the delay in processing your affiliate payout since January 14th. Please be assured that your case has been escalated, and our team is actively investigating the matter. We appreciate your patience and will provide you with an update as soon as possible.

Best regards,

Reply from Nova Forex

Feb 3, 2025

Hello Sophie,

Thank you for bringing this to our attention. We’re sorry to hear about the discrepancy in your payout calculation and the inconvenience this has caused you. I have reported your case—specifically regarding account 569924 and the incorrect profit figure—to our team for further investigation. We are working to resolve this issue as quickly as possible and ensure that you receive the correct payout amount.

We truly value your long-term loyalty to Nova and appreciate your patience while we sort this out. If you have any additional details or questions in the meantime, please feel free to reach out.

Best regards,

Reply from Nova Forex

Jan 30, 2025

Hello Akshay,

We understand your frustration, and we want to clarify the situation. The multiple migrations were not our decision—they were forced upon us due to broker failures, loss of licenses, and policy changes that affected the entire industry. We did not initiate these migrations out of choice, and we’ve worked hard to maintain operations despite these setbacks.

Many prop firms did not survive even one broker collapse—we’ve gone through three and are still here working toward solutions. While we understand the disappointment of ineligible accounts, offering a 50% discount was a way for traders who didn’t want to wait for migration to transition onto our new in-house platform with a reduced cost. Most firms would have walked away and done nothing, yet we are still here trying to support traders.

Regarding payout rules, we have always maintained clear terms to ensure fairness. If traders follow the same rules we’ve applied in the past, they will receive their payouts. The idea that we are preparing for another migration in a few weeks is completely false—we’ve moved to a fully in-house model to prevent exactly that from happening again.

We know this transition has been difficult, and we appreciate your patience. If you have concerns about your eligibility, you are always welcome to reach out, and we’ll do our best to assist.

Best regards,

Reply from Nova Forex

Jan 28, 2025

Hello Filip,

I’m sorry to hear about your ongoing frustrations. We understand it’s been a challenging few months, and I appreciate you taking the time to share your experience in detail.

Multiple Broker Disruptions & Migration Delays
Over the past year, Nova has faced multiple broker disruptions—some partners lost licenses, backed out, or ceased supporting prop firms entirely. These events were beyond our control. Unfortunately, that has led to the repeated migrations and delays you’ve mentioned. We recognize that from your perspective, the lack of direct communication about these issues has been extremely frustrating.

Our Role in the Partnership
It’s important to clarify that in our previous arrangement, Nova’s role was limited to marketing and onboarding. We were not responsible for managing accounts, processing payouts, or collecting the fees for purchased accounts on the old platform (DxTrade-EightCap). All operational aspects, including migrations and refunds, fell under the broker’s responsibility—an arrangement spelled out in the original agreement.

Refund Requests & Account Access
If you strongly believe a refund is necessary, we advise you to escalate your request directly with the previous provider, which handled both the collection of your purchase fees and the management of your funded account. You can contact them at:
helpdesk@nova-funding.com

As you noted, they have not fulfilled their commitments. We empathize with your situation; however, the responsibility for handling refunds, payouts, and account services on the DxTrade-EightCap platform lies with them.

Our Current Efforts
While Nova was not managing the previous platform, we have continued doing everything possible to find solutions for traders impacted by these broker issues. We recognize your frustration at not having access to your funded account—and how deeply disappointing it is when you see new challenges being sold on our upgraded platform. We genuinely regret that the transition from the old broker has taken this long.

The Path Forward
We’ve moved forward with our new in-house platform to avoid any future reliance on external partners who can disrupt operations. This shift is aimed at providing a better experience overall, including direct payouts and clearer policies. We also understand you’re dissatisfied with the new dashboard, and we appreciate feedback on how to improve it.

Next Steps & Contact Information

For a Refund or Further Escalation:

Please direct your request to the ex-partner who processed your payments at helpdesk@nova-funding.com. They collected the fees and oversaw the DxTrade-EightCap accounts.
If You Have Additional Questions for Nova:

Feel free to reach out to our current support team. We will try to provide any information we have, although our ability to act on a previous platform we didn’t manage is limited.
We understand how tired you must feel navigating yet another migration. We truly appreciate your patience and candor, and we wish we could give you a more immediate resolution. Your concerns are valid, and we will continue to do our best to assist within the scope of what we control.

Best regards,

Reply from Nova Forex

Jan 27, 2025

Hello Gurpreet,

I’m sorry to hear about your frustration, and I would like to understand more about what’s been bothering you. Could you please provide some more context on why you feel this way? It will help us better address the issues you’re experiencing and work towards a resolution.

We genuinely care about your experience, and we want to make things right for you.

Looking forward to your response.

Best regards,

Reply from Nova Forex

Jan 27, 2025

Dear A B,

Thank you for reaching out and for giving us the opportunity to provide clarity on this matter.

To address your question directly: We have not canceled migration for FXCH accounts entirely, but we have significantly adjusted our approach due to the complexities and challenges involved.

Why the Change?
The migration process has proven to be far more intricate than initially anticipated, with significant operational and financial hurdles. Over the past year, Nova has faced multiple broker disruptions—none of which were our choice. These brokers either lost their licenses, discontinued support for prop firms, or backed out entirely, forcing us to adapt and protect our traders as best as possible.

Unfortunately, these disruptions placed a substantial strain on our resources, making it unfeasible to execute the migration for all accounts at this time. As a result, we’ve had to prioritize risk management and financial recovery before we can scale migrations of original FXCH accounts or other older accounts.

Our Current Approach:

Priority List for Migration: Accounts like yours, which are from the FXCH period and qualify under the original criteria, remain in our system for future migration once the platform is stabilized.
Discount Offer: While waiting for full migration, we’ve extended a 50% discount to help affected traders transition to our new Platform 5, which offers enhanced features and in-house management for better efficiency and reliability.
Gradual Migration Plan: Migration for eligible accounts will happen in phases as we stabilize financially and operationally.
Our Commitment to You:
We deeply regret the frustration and uncertainty this situation has caused. Nova remains dedicated to supporting our traders, and unlike many firms that did not survive similar broker challenges, we are actively working to rebuild trust and stability.

We sincerely appreciate your patience and understanding during this time. If you have further questions or need assistance with your account, please don’t hesitate to reach out.

Thank you for your continued support.

Best regards,

Reply from Nova Forex

Jan 27, 2025

Dear Ionut,

We’re sorry to hear that you feel this way. At Nova, we are committed to addressing our clients' concerns and ensuring transparency in all our operations. If you have experienced any issues, please provide us with more details so we can investigate and resolve the matter for you as soon as possible.

Your feedback is important to us, and we genuinely want to make things right.

Thank you for reaching out.

Best regards,