NairaTrader Update

The Spaces focused on Nara Trader’s recent platform incident, why payouts paused for three days, and how services will resume. Ben (CEO) apologized for a buggy rollout of a new site that triggered multiple MT5 login emails, accidental cross-account access, and some unintended breaches. He confirmed funds are safe, the team is profitable, and payouts will restart on Monday with Monday–Tuesday allocated to clear backlogs. Users should submit requests on the old site with their MT5 credentials and select the correct status (Phase 2, Funded, KYC, Payout). The breach checker is the source of truth; breaches occur when maximum drawdown (e.g., 20%) is exceeded even if the trade later closes in profit. A recent scalping enforcement (minimum hold 2 minutes including losses) targets HFT-style tactics deemed non-replicable on live accounts they copy to. Ben outlined near-term fixes (migrating users back, reissuing logins, correcting wrong breaches) and a roadmap: broker partnership to eliminate Exness demo expiry, better spreads, and automated risk cut-offs at breach levels. Feature requests such as account matching will be considered within 1–2 weeks. The team reiterated transparency, denied scam allegations, and provided step-by-step guidance for users affected by the glitch.

Nara Trader Twitter Space: Glitch Rollback, Payout Resumption, Rules Clarification

Participants and roles (as identified in the session)

• Mr. Ben (CEO/spokesperson; often addressed as “sir”): Led the updates, apologized for the incident, addressed rules and breach logic, and fielded most Q&A.
• Remy (host/moderator): Opened the space, managed handovers and audience queue.
• Mr. Gushiku (community member): Raised a structured set of operational questions about multiple logins, payout flows, and migration status.
• Ms. Budgeting (long‑time user): Asked about the sudden change in scalping rules and its impact on breaches.
• Time FX (trader): Suggested account matching and asked about the 7‑day account rule.
• Toby King (community member/critic): Previously posted “scam” content, then visited the office to resolve an account issue; participated in a reconciliation exchange.
• PL Street (content creator/trader): Reported a wrongful breach on the new site after two trades; requested remedy.
• Ibrahim (trader): Asked about a pending withdrawal during the rollback.
• Jasper/Jasperez (trader; name cited by host): Reported pass→cool‑down→breach and login issues moving from new to old site.
• Telegram community representative: Asked for a clear explanation of recurring “breach” complaints for community clarity.

Note: Early portions of the recording include chants/slogans and non‑substantive interludes; the substantive briefing begins when Remy introduces Nara Trader updates and the CEO begins the apology and Q&A.

Context and timeline

• Incident window: Over the past several days, Nara Trader launched a “new site” with instant features (near‑instant payouts, KYC), then encountered severe glitches and a security breach scenario (including multiple/incorrect MT5 login emails and wrongful breaches). Payouts were paused for ~3 days during the glitch.
• Immediate action: The team rolled back operations to the “old site” to stabilize, with a plan to gradually re‑introduce new features incrementally on the old platform.
• Payout resumption: From Monday (immediately following this space), users should submit requests via the old site. Expect heavy volumes Monday–Wednesday; the team is implementing process/tech to speed up handling.
• Track record emphasized by the CEO: ~1 year of operations with ~1 billion in payouts; asserts profitability and sufficient bank balances for payouts; rejects “scam” accusations.

Core updates from the CEO

• System state and rollback

  • The new site delivered a strong first 24 hours (some payouts reportedly within ~3 seconds, instant KYC), but then critical bugs emerged, including a security breach scenario causing:
    • Multiple, incorrect MT5 login credentials being emailed to different users (cross‑account exposure).
    • Some accounts being breached erroneously.
  • Decision: Suspend new‑site operations and revert to the old site. No data loss; migration queues and account histories are retained.
  • Roadmap: Re‑introduce new‑site features on the old site incrementally to minimize risk.

• Payout status and commitments

  • Payout pause was precautionary to avoid paying wrong recipients during the glitch.
  • Starting Monday, request processing resumes; Monday–Tuesday (and likely Wednesday) will be used to clear accumulated requests.
  • The team reiterates: Only breached accounts are denied; otherwise, payouts are processed. Company states no intention or need to withhold legitimate withdrawals.

• On “scam” allegations and community concern

  • The CEO characterized recent “scam” posts as agenda‑driven escalations. He invited critics (e.g., “Toby King”) to present evidence; one critic acknowledged posting then deleting after resolution.
  • Reinforced stance: Nara Trader profits by copying consistent traders’ strategies at scale; revenue is not dependent on registration fees. The company claims to copy trades to larger live positions to fund users’ future payouts.

Incident specifics and remediation guidance

• Multiple/incorrect login details (migration defect)

  • Symptom: Users purchased one account but received 5–6 different MT5 credentials; some users saw activities they believed were unauthorized on their accounts.
  • CEO response: No internal trading on users’ MT5 accounts; cross‑emailing was a glitch. Those with multiple/new‑site credentials should use the request interface on the old site to regularize their accounts.
  • Action: Submit a request via the old site’s Request page (Funded/Phase 2/KYC options), providing the MT5 account number and password you last received/used; you will be issued corrected/new login(s).

• Wrongful breach on the new site

  • Acknowledged as part of the new‑site issues. If your account was wrongly flagged as breached, use the old site to request the correct next step:
    • Provide the affected MT5 login in the Request page (select Funded if you were funded, or Phase 2 if you were mid‑progress). The team will verify and issue a proper replacement login.

• Users paid/funded on the new site but missing the new internal account

  • Action: Submit the same MT5 login (used for that payout/funding) through the old site Request page; select the appropriate path (Funded/KYC/Payout) and you’ll be issued fresh credentials aligned with the old‑site backend.

• Users migrated Thu–Fri but didn’t receive logins before rollback

  • Status: Still on the migration list; no data lost. Pending migrations were suspended due to the email/login glitch. The team will locate your MT5 in the migration queue and issue the next login via the old site process.

• Login to new vs. old site

  • The new site is disabled to prevent account purchases; redirection goes to the old site. If your old email is not recognized or returns invalid credentials:
    • Try logging in if the system indicates the email exists.
    • If still blocked, sign up with a new email on the old site and submit your MT5 login details via the Request page on Monday when it opens.

• Weekend access

  • The Funded/Request pages are normally closed on weekends; they reopen Monday morning.

Rules and risk management: breach logic and scalping policy

• Breach checker = “source of truth”

  • Users should verify status at the official Breach Checker using their MT5 login and password. Key metric: “Loss from peak.”
  • Drawdown enforcement: If your maximum drawdown limit (e.g., 20%) is reached intratrade, the account is considered breached—even if the trade later reverses and you close in profit. This addresses a common misunderstanding among traders.
  • Proof: Support can pinpoint entry, exit, and the max adverse excursion (loss from peak). If the Breach Checker shows a breach, it stands; if it shows active, proceed to request Phase 2/Funded/KYC/Payout.

• Scalping/HFT rule clarification (raised by Ms. Budgeting)

  • User concern: The long‑standing 4‑minute minimum trade duration appeared to change suddenly to 2 minutes and to count losses within the 2‑minute window, causing unexpected breaches—especially for traders who close losses quickly (seconds).
  • Company position: No “new” rule was created; rather, an existing rule previously de‑emphasized is now being enforced due to abuse by HFT bots and patterns that generate many tiny losses and a single large win. Nara Trader claims such patterns are not replicable at scale on their live copying backend and lead to unsustainable losses.
  • Rationale: Strategies must be replicable on live accounts because the company claims to copy trades at larger sizes to fund payouts. Non‑replicable HFT patterns may pass demo but fail in live execution; thus they are restricted.

• Automatic stop‑out and software costs

  • Future plan: Implement technology or broker partnership to automatically take accounts out of the market once drawdown limits are hit (to eliminate disputes over intratrade breaches).
  • Constraint: Off‑the‑shelf prop‑firm software is described as cost‑prohibitive at scale (quoted ~15,000 per user). The company is exploring broker partnerships to achieve similar automation and better economics.

Broker/expiry and upcoming partnership

• 7‑day account “expiry” and demo availability
  • Question (Time FX): Could the 7‑day rule be extended? Company answer: The 7‑day limitation and occasional unavailability of demo accounts are broker (e.g., Exness) behaviors, not Nara Trader policy. Some demos persist for months; others expire.
• Broker partnership roadmap
  • The team is in discussions to partner with a broker before the end of the month. Goals:
    • Broker platform integration to automate more flows.
    • Better spreads, no demo expiry, no 7‑day constraint, and faster processing.

Q&A highlights and company responses

• Multiple login emails and which credentials to use (Mr. Gushiku)

  • Use the MT5 credentials tied to your actual purchased account; submit them via the Request page (select your status: Funded, Phase 2, KYC pending). The team will issue the correct next login.

• Payouts requested on the new site but no new internal account assigned (Mr. Gushiku)

  • Submit the same MT5 details via the old site’s Request page; choose “Funded” if appropriate; the team will issue the next account.

• Migrated Thu–Fri without receiving logins (Mr. Gushiku)

  • Still in the migration pipeline; no data loss. They will search for your MT5 and issue a new login via the old‑site process.

• Breach email received despite not trading (general)

  • Check via the Breach Checker. If “Active,” proceed to request Phase 2/Funded/Payout. If “Breached,” the system has recorded a drawdown violation; support can provide trade‑by‑trade proof.

• Wrongful breach on new site after two trades (PL Street)

  • Acknowledged as part of the new‑site issues. Remedy: On Monday, submit the affected MT5 login via the old site Request page; you’ll receive a new correct account aligned with your status.

• Pass→cool‑down→breach; login issues moving from new to old site (Jasper)

  • Register/login on the old site. If your old email doesn’t work, create a new account with a different email and submit your last MT5 login via the Request page on Monday.

• Pending withdrawal during rollback (Ibrahim)

  • On Monday, resubmit your withdrawal via the old site; processing will resume and no funds are lost per the company.

• Matching accounts and 7‑day rule (Time FX)

  • Matching accounts: Expect an update within 1–2 weeks (post‑backlog). 7‑day limitation is broker‑side; a broker partnership is in progress to resolve this class of issues longer‑term.

• Allegations of unauthorized trading on user accounts

  • Company denies trading in users’ MT5 environments; cites scale and process (copying only for consistent traders on backend) and describes cross‑emailing/glitch as the cause of perceived manipulation.

• Scam accusations and office visit resolution (Toby King)

  • Toby acknowledged posting and later deleting a “scam” post, stating his issue was resolved promptly at the office. CEO reiterated open‑door stance and philanthropic commitments, urging users to avoid reputational harm based on isolated issues.

Commitments, timelines, and action items

• From Monday (immediately after the space):
  • Old site Request page reopens; submit MT5 login and password for:
    • Funded: If you were funded or need a funded replacement.
    • Phase 2: If you passed Phase 1 and are awaiting Phase 2 credentials.
    • KYC/Payout: If you need KYC processing or payout.
  • Expect high volumes Monday–Wednesday; processing will be accelerated as feasible.
• Within 1–2 weeks: Announcement on account matching (feature request from Time FX) after stabilization and backlog clearance.
• By end of the month (target): Broker partnership to improve spreads, eliminate demo expiry/7‑day constraints, and automate risk and account lifecycle.
• Ongoing: Gradual re‑introduction of new‑site features (e.g., faster payouts, instant KYC) on the old platform once stable.

Outstanding issues and risks

• Some users experienced:
  • Wrongful breaches on the new site.
  • Multiple/incorrect login emails and account confusion.
  • Difficulty logging into the old site with legacy credentials.
• The company asserts:
  • No data loss; all migration records retained.
  • Wrongful breaches and login cross‑emails were new‑site defects to be remedied via the old‑site Request workflow.
  • Breach findings are objectively tied to drawdown logic; the Breach Checker is authoritative.

Key takeaways

• The “new site” rollout surfaced critical technical/security issues (cross‑emailed credentials, erroneous breach flags). Operations have been rolled back to the old site to restore stability.
• Payouts resume Monday via the old site; users must submit their last valid MT5 credentials and select the correct request path (Funded, Phase 2, KYC, Payout).
• Breach policy hinges on maximum drawdown reached intratrade (loss from peak), not on eventual trade outcome; this was re‑emphasized due to HFT/scalping patterns.
• The company plans broker integration to enable automated stop‑out at drawdown limits, remove demo expiry/7‑day constraints, and streamline processing.
• Management strongly rejects “scam” allegations, citing a one‑year payout track record and profitability; they encourage users to verify status via the Breach Checker and to route issues through official requests/support.