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sipho S

1 reviews | Active since Feb 2017

19 Sept 2019, 11:16

Retail Forex Traders Stay Away From Nedban****!!

I successfully funded my forex trading account with an offs**** broker https://fxpro.com using my Nedbank cheque account. I made profits and am now unable to withdraw my profit from Nedbank.

My initial investment is growing daily, my broker has no problem approving my withdrawal requests however Nedbank blocks the transaction even after I have done everything possible to prove the legitimacy of the incoming funds. I have sent statements, trading portal screenshot, you name it.

It's been 2 weeks of emails being sent backwards and forward between me and the Nedbank CIB Forex department, they now agree the incoming funds are legit but apparently I should have funded my online trading account via Outgoing Telegraphic Transfer(Swift Transfer) (I mean what is that) using the Forex Teller in the branch. I am not a financial fundie and never would have known the Exchange Control rules before hand.

Their final response is "We have no option but to return these funds as they are in contravention of Exchange Control rules. For future payments to be hassle-free, please fund your online trading account via an Outgoing Telegraphic Transfer(Swift Transfer) using the Forex Teller in the branch ."

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