Update: This post seems to be getting a lot of attention. I would like to remind everyone that everything in this blog that I write about is strictly research I have done on my own and is correct to my knowledge. Do yourself a favor and take a minute to research what I have written about in order to confirm it. I am in no way shape or form tied to any companies mentioned within this post.
Additional updates will be marked in red through out the article as more information is discovered.
Company: Nonko Trading
Aliases: G6 Trading, Nevis Trading
Associated Sites: Day Trade Canada, D2R Trading, Logix Layer, Stockfuse
Trader Alert: SCAM – STAY AWAY
Last Update: 11/25/2014
I hate to call this one a review but it is rather a negative report to make traders aware. I try to be as honest as possible in reviews and this company has come up a lot in the last couple of days, so I decided to do some digging.
Nonko Trading as far as I can tell is owned by Yaniv Avnon and Ran Armon. The company is offering a 20:1 buying power for people who sign up. At first this sounds great but it is too good to be true. Prop Firms have been around for a while and they usually offer buying power in excess of normal 2:1 margin that most companies offer. This can be helpful for people with smaller accounts to get started, unfortunately a lot of times people get in over their head when they are starting off. Regardless, their offer basically gives you 20k for every 1k you deposit. That is just nuts. Seems too good to be true right? That is because might be.
There have been many complaints by people who opened Nonko Trading accounts. Basically what it appears is happening is that the prop firm is taking peoples deposits, setting them up with practice accounts through DAS Trader and pocketing their money. You are probably thinking to yourself, how does the person not know. Well they are targeting new traders and with that comes a high failure rate. They are hoping that you lose everything on the practice account so it looks like you lost the real money however they in theory just kept it for themselves. Apparently DAS Trader caught on because people started to call and ask questions about their accounts which in reality was a practice account so DAS wouldn’t give support. Let me make it clear, DAS Trader is in no way in the wrong here. They offer a legit product and are a great company. Unfortunately someone is trying to take advantage of the system. Thankfully DAS Trader caught on and has issued a warning:
As you can see in the warning issued, DAS Trader mentioned G6 Trading and Nevis. A little additional research told me that the following companies are all related if not run by the same people, Nonko Trading, G6 Trading, Nevis Trading, Logix Layer, D2R Trading and Day Trading Canada. So what do all these companies have in common? Mainly Yaniv and Ran but in some other cases it is not so obvious. Here is a quick break down of what I found for evidence that supports these claims.
The G6 Trading’s about us page mentions Yaniv Avnon and Ran Armon:
The most compelling evidence that these companies are a scam, involves a warning posted by the Ontario Securities Commission regarding not only G6 Trading but specifically calls out Yaniv Avnon and Ran Armon:
The last thing to go with G6 Trading is their investimonials reviews. I can’t prove that a majority of them are fake but I will give you one as an example.
The review completed by “ShawnCarter” that raves about G6 Trading is a complete fraud. As you will notice in the comments, people call it out as such as well. The review is a copy and paste of another review on investimonials and the image the guy used is one stolen from the web.
Does that picture look a little bit like this one…
I would say so! The company is posting fake reviews about itself in order to gain credit within the community. But that is nothing, the rabbit hole gets deeper if you will.
Nevis Trading is a little harder to tie to the other two. But there are a ton of similarities between the companies. For example, the “Our Company” page lists Canada as the first location. Their phone number is a Canada number. The whois look-up on the Nevis domain is set to private registration. Nevis and Nonko both are registered through godaddy.com. Additionally, they mention Skype to contact them to see if you qualify. Skype is utilized by Nonko when opening accounts as well. All these similarities makes me think they are run by the same people.
Also, a simple google search for “Nevis Trading Group LLC” results with Nonko Trading on page 2.
Additional sites that are possibly associated with these guys are as follows:
- Logixlayer.com – Website is shockingly close to Nonka Trading’s…actually I am pretty sure it is the same theme. Ironically also registered through godaddy as private. I can’t exactly say 100% this is the same company, but I would be a betting man if it came down to it. Way too many ties and similarities to Nonka.
- Day Trader Canada (Blog)- Appears to be run by one if not both of them. Mentions the following:
- Stockfuse – This site was tweeted out by @yanetjellen on November 24th. Yenet Jellen is the Chair of the Board of Governors for the Federal Reserve System. Obviously a fake twitter account with ties to Nonko. If you browse the Stockfuse website, guess what, it is the same template/theme as Nonko and Logix. Stockfuse is also privately registered with godaddy.
- D2R Trading (Blog) – http://d2rtrading.blogspot.com/’
- This site appears to be old and just has a couple of charts. I was able to tie this to Ran Armon through a site called Yatedo:
Last thing I will post is not anything major, it is just so you get an idea of what one of these guys looks like.
There you have it. I can not stress it enough to new traders, avoid these companies and people at all costs. They are basically stealing from people. Stick with the trusted brokers such as Suretrader, Speedtrader or Interactive Brokers. Prop firms are no good.
I had someone on twitter mention they had a personal experience with Nonko. Here is what they wrote in their blog post regarding the company:
“I traded with Nonko for a week. They seemed like your typical offshore brokerage/prop firm (more of a brokerage in my opinion). The customer/client support was good. The platform wasn’t bad either… When it worked. They accept PayPal payments. I’ve contacted PayPal. From day one I had problems with their platform staying connected… It would work for a little bit and then become unresponsive… Which is extremely frustrating because when it’s time to exit, it’s time to exit! I had to have them manually close many trades which caused me to miss out on thousands of dollars… Was this on purpose?!
I blew up Yesterday when I couldn’t take an $1800 profit… Low and behold they never fixed the problem (who knows if it was a problem). I think the problem was that I was a profitable trader… Yani told me that they could no longer work with me and that I could withdraw my funds the next day… I said sure whatever, fuck you. That night they removed my login access from their reporting page (where you wire out) and blocked me on Skype… Bad signs. I found a link for a RightSignature Wire Withrawal form they had sent me last week. I completed it and submitted it after contacting PayPal, Stewart, Ran, and Yani.
This morning I had my equity in my PayPal account. Are they bullshitters, scammers, whatever? I don’t know, but there are a bunch of signs pointing to them in that direction. They told me G6 was for education and Nonko was for trading. I don’t recommend Nonko Trading to anyone… Use someone more reputable like Tradenet or Cy Group… There are many out there. Some require a Series 56… Some don’t. I can’t get a Series 56 so that ‘s why I named the above two that I know are good.”
To be fair, I have also seen a couple, 4 to be exact, instances of people not having a problem with the company. However no proof has been provided to support those 4 claims.