Nova Forex Reviews 130

Reply from Nova Forex

Apr 11, 2025

Thanks for reaching out and we truly understand how frustrating this has been.

It appears that there has been a widespread disconnect from the broker's side, which is affecting many traders’ ability to log in and access their MT5 accounts and account details. This issue is not on our side directly, but we have reported it and are actively working with the broker to get it resolved as soon as possible.

We sincerely apologize for the inconvenience, and we appreciate your continued patience. Once the broker finalizes the fix, your access should return to normal. We’ll share any updates as soon as we have them.

Reply from Nova Forex

Apr 3, 2025

Thanks for your message, and we truly understand how frustrating this has been. We’ve received your payout request from 12.02.2025 and can confirm that your account 578905 is still under review and has not been forgotten.

Regarding the login issue and the "Undefined" status showing on your dashboard — this has been happening to a small number of accounts due to a technical issue with account mapping during the review and withdrawal queue process. We’ve already reported this, and the tech team is actively working on resolving it.

💡 Important Note:
We’ve noticed that for a few traders, the login method provided was not working properly, so adjustments are being made on the backend to reassign credentials and finalize queued payouts.

We’re truly sorry for the silence, but rest assured your payout request is in the system, and you haven’t been forgotten. We’ll provide an update once the issue is resolved or if anything else is needed from your side.

Thank you again for your patience 🙏

Reply from Nova Forex

Apr 1, 2025

Thanks for reaching out, and we completely understand your concern—especially with the closure timeline in mind.

The MT5 mobile login issue is related to a technical problem on the broker’s side, not Nova's platform directly. The broker provided the following update:

📢 Broker Announcement :

We are aware that mobile users are currently unable to log in to their trading accounts due to an issue with the MT5 access server.

🔧 For PC/Laptop Users:
Please use our updated IP address:
185.95.16.206:443
Steps:

Remove your existing account from MT5.

In the Navigator tab, click “Login to Trade Account.”

Enter your existing credentials.

Under Server, paste: 185.95.16.206:443.

Log in and resume trading.

📱 For Mobile Users:
The broker has already contacted MetaQuotes to update the terminal on mobile devices. That update should now be rolled out or available very soon. If you're still having trouble, please try reinstalling the app or clearing cache.

We appreciate your patience while this issue was being addressed. If you're still unable to access your account, let us know your account number and whether you're on iOS or Android so we can follow up with the broker directly for you.

Reply from Nova Forex

Mar 29, 2025

Hi there,

The issue you experienced with your account showing as "undefined" and being disconnected from MT5 was related to a temporary server outage on the broker's side — not an issue from Nova’s end.

The broker has since resolved the issue. Here's the update they shared with us:

Dear Clients,

We are aware that mobile users were temporarily unable to log in to their trading accounts due to an issue with the MT5 access server.

✅ For computer and laptop users, please use our new IP address to log in:
Server: 185.95.16.206:443

Steps to Log in on MT5 (PC/Laptop):

Remove your existing account from MT5.

Go to the Navigator section → right-click on Accounts → select Login to Trade Account.

Enter your current credentials.

In the Server field, enter: 185.95.16.206:443

Log in and continue trading as usual.

📱 For mobile users, the updated server is expected to be reflected automatically via MetaTrader. The broker has informed us this was resolved shortly after the outage.

If you’re still experiencing issues logging in, we recommend restarting your app or MT5 terminal and trying again with the updated server settings above. If that doesn’t help, please let us know and we’ll escalate it to the broker for further support.

Thanks for your patience!

Reply from Nova Forex

Mar 27, 2025

Thank you for reaching out and for your past support.

We completely understand your frustration with the delay, and we sincerely apologize for the inconvenience caused. As mentioned in our recent announcement, Nova Funding is currently in the process of winding down operations, and we are working through a final round of payouts to ensure all eligible traders who followed the rules are paid out fairly.

Your accounts 586637 and 594854 are still in queue, and we have every intention of processing your withdrawals. Delays have occurred due to internal restructuring, additional fraud reviews, and the high volume of requests as we prepare for closure, but please rest assured that we are not ignoring or denying your payout.

If your accounts are in good standing and your payout was approved, you will receive your funds. Our payout operations are still active, and we are finalizing each request as efficiently and fairly as possible.

We truly appreciate your patience, and we are committed to ending this process with integrity. If you have any other questions, please feel free to reach out—we’re here to support you through this transition.

Reply from Nova Forex

Mar 24, 2025

Hi Lateef,

Thank you for reaching out, and we sincerely apologize for the delays and confusion you’ve experienced. Let me clarify both of your concerns:

1. Missing Account – Mantrade Pre-Migration (Account 259796 / MT5: 1401213)
Based on your message, this account was purchased through MantaTrade (or FXCH), which falls under our "OG Clients" category. As mentioned in our recent official announcement, eligible OG clients whose accounts remained in good standing as of March 10, 2025 will be considered for a refund.

✅ We are in the process of launching a dedicated form where you’ll be able to submit your details for review and refund eligibility. This will be available shortly, and we’ll announce it via email and official channels.
✅ Your account will be reviewed once the form is submitted, and as long as it meets eligibility criteria, you will be reimbursed.

2. Pending Payout – Nova Forex Platform 5 Account (Account 594821)
Your payout request is in queue, and we absolutely intend to process all eligible payouts as stated in our closure notice. We’re currently working through the final batch of payouts and:

✅ As long as your trading complied with our rules, you will receive your payout.
✅ If additional review is required, our team will reach out. Otherwise, the payout will be released before final closure.

Final Note
We understand your frustration and thank you for your patience. This closure is being handled transparently and in accordance with trader agreements. We are committed to ensuring that both eligible refunds and payouts are resolved properly.

Please keep an eye on your inbox for the upcoming refund request form, and feel free to follow up here for any new updates.

Best regards,
Nova Funding Support Team

Reply from Nova Forex

Mar 21, 2025

Hi there,

We’re sorry to hear that you’ve had a negative experience and would like to understand more about what happened. We take these concerns seriously and want to ensure that if there was any issue, it’s properly addressed.

If you can provide your account number or the email associated with your account, we’d be happy to look into this further. While there have been delays and challenges—especially following the unexpected exit of some of our previous broker partners—we’ve made every effort to resolve issues transparently and fairly.

Please feel free to reach out so we can assist you directly.

Best regards,
Nova Funding Support Team

Reply from Nova Forex

Mar 11, 2025

We understand the frustration, but the claim that Nova has gone bankrupt is false. We are actively working through delayed payouts and extended reviews, and while we recognize the wait times have been far longer than they should be, payouts have not stopped permanently.

Regarding account closures, we only take action on accounts that have violated our trading rules—including cases of copy trading, account management, or risk violations. If an account is closed, it is not due to requesting a payout, but because of a confirmed breach after thorough investigation.

That being said, we acknowledge the need for better communication. We are restructuring to ensure smoother operations and financial stability so that we can fully resume payments and migrations without further delays.

We ask for patience as we continue to resolve these issues, and we will provide further updates soon.

Reply from Nova Forex

Mar 11, 2025

We completely understand your frustration regarding the migration process, and we sincerely apologize for the delays. The multiple migrations were not our choice, but rather a result of brokers losing their licenses, pulling out of the prop industry, or failing to uphold their agreements. Despite these setbacks, Nova has continued to push forward when many firms in the same situation shut down entirely.

We recognize that migration has taken longer than anticipated. Rather than rushing and creating more complications, we are prioritizing stabilizing our operations before moving forward with older accounts. While this is not the ideal scenario, it is the best course of action to ensure long-term sustainability and integrity in our platform.

We are still working on solutions for affected traders and will provide updates as we move forward. We appreciate your patience and hope you can recognize that we are doing everything possible to resolve this fairly despite circumstances beyond our control.

Reply from Nova Forex

Mar 11, 2025

We completely understand the frustration and speculation surrounding the delays, and we take full responsibility for the lack of clear communication. However, the claims that we are insolvent or shutting down are false. The reality is that we have been working through a restructuring phase, ensuring the long-term sustainability of Nova while addressing extended reviews, fraudulent activity, and financial stability.

Payouts have not stopped permanently, but they have been delayed due to necessary internal reviews. We acknowledge that this has taken longer than anticipated, and we owe our traders better transparency moving forward.

Regarding migration, it is still in our plans, but we must first stabilize and ensure we are not dealing with a repeat of past issues, such as traders exploiting the system or mass chargebacks. The current priority is resolving the backlog of extended reviews and securing financial stability, ensuring that when we resume full payouts, we can do so without disruption.

We understand that trust has been shaken, and we are not here to give empty reassurances—we are here to fix the issues and restore confidence in Nova. We ask for continued patience as we work through this phase, and we will provide updates as soon as possible.

Reply from Nova Forex

Mar 7, 2025

Hi Adri,

Thank you for your detailed feedback. We understand your frustration and appreciate you bringing this to our attention.

To clarify the situation regarding your breach:

At Nova Forex, the 4% daily drawdown is a trailing drawdown, meaning it's not only based on the initial balance at the start of the day but also adjusts upward if your equity increases during the day. This means:

If your account's equity reaches a higher point during the trading day, the maximum daily loss is calculated from that new highest equity value.
Therefore, even if your balance is within the limits, a drop of 4% from the highest equity within that day would result in a breach.
We completely understand how this can sometimes create confusion, especially if you were carefully managing risk. However, we can assure you that the breach was not arbitrary or manipulated—it is based on an automated system that tracks equity in real-time according to the rules you agreed to when starting the challenge.

Why might this happen?
Often, traders see temporary equity spikes during trades. For example, if your equity increased from €200,000 to €205,000 during the day, your new 4% daily limit is calculated from €205,000, not the original balance. If your equity then dropped below €196,800, that would trigger the breach.

Regarding your concerns about support:
We apologize if you’ve felt unheard—this is not the experience we want for our traders. Your case has been escalated for further internal review to double-check the drawdown calculation, and we'll ensure you receive clear confirmation of the data involved.

Our commitment:
We do not, under any circumstances, manipulate accounts or disqualify traders without clear, rule-based reasons. We have a strong interest in seeing our traders succeed, as payouts and long-term partnerships build our credibility and growth.

That said, if you would like a full breakdown of the equity movements on your account to help you better understand how the breach occurred, we’d be happy to provide that.

We sincerely hope this clears up some of the confusion, and we appreciate your patience and professionalism as we address your case.

Thank you,
Nova Forex Team