naqdi Deposit & Withdrawal

Naqdi presents itself as a straightforward broker, but when it comes to moving real money in and out, the picture quickly becomes opaque. The company, officially registered as Naqdi Group (PTY) LTD, claims to offer 'no minimum deposit' on live accounts and promises smooth, STP execution. However, the actual mechanics of deposits and withdrawals are shrouded in secrecy. Our investigation found that critical details — such as specific deposit methods, withdrawal methods, and associated fees — are simply not disclosed on the broker's public-facing materials.

This lack of transparency is a significant red flag for any trader. Funding methods are the lifeblood of a trading account, and brokers that hide this information often do so because the processes are either unfavourable or deliberately designed to frustrate outflows. In Naqdi’s case, the buried truth emerges not from their own disclosures but from a torrent of user complaints that paint a deeply troubling picture.

Naqdi’s marketing materials mention that deposits are processed quickly — a claim echoed in a few positive reviews. Yet the company fails to list anywhere which payment channels are available. From fragmented user reports and industry databases, we can infer that deposits are likely accepted via bank wire, credit/debit cards, and possibly e-wallets or cryptocurrency, but none of this is confirmed by the broker.

More concerning is the absence of information on fees. Brokers often pass on third-party payment charges, and without disclosure, traders may be hit with unexpected costs. One user complaint hinted at issues with a deposit via the Tron network, suggesting cryptocurrency may be an option, but the broker’s silence forces traders to guess. Until Naqdi provides a clear and public list of deposit methods, limits, and processing times, traders are effectively funding accounts blind.

If deposits are a fog, withdrawals are a total black box. Naqdi does not publish any withdrawal methods, processing times, or minimum/maximum thresholds. This is deeply contrary to industry best practice. Regulated brokers typically outline their withdrawal policies in detail to reassure clients that funds can be retrieved without obstruction.

The absence of such information is particularly alarming given the mountain of complaints alleging that withdrawals are delayed, blocked, or ignored entirely. In our analysis, 17 out of 37 Trustpilot reviews (nearly half) mention withdrawal issues, and 14 of those are negative. The numbers alone make Naqdi’s withdrawal reliability one of the weakest we have encountered in recent reviews.

Reading through user testimonials reveals a consistent and disturbing pattern: funds are accepted instantly, but attempts to withdraw are met with endless delays, excuses, and pressure to cancel the request. One trader reported waiting since February for a $9,221 withdrawal, receiving only $2,000 after multiple office visits, with the balance still unpaid. Another lamented that a withdrawal request submitted in October remained unprocessed months later, with no clear support response.

Several reviews explicitly accuse Naqdi of being a 'fraud company' and a 'scam.' One user wrote, 'they just blocked my account for no reason whatsoever its literal fraud they are just thieves taking people's money.' While we must treat individual online posts with caution, the sheer volume and consistency of these experiences point to a systemic issue rather than isolated incidents. FXCanary’s own count of withdrawal-related complaints stands at 19, and that figure may understate the problem as many frustrated traders never post reviews.

Consider the trader who claims to have been given a wallet address for withdrawal of his principal, only to hear nothing for four months. Or the user who states he has been 'warring more than 59 days and still no refund.' These are not abstract warnings; they are real people who entrusted Naqdi with their capital and now find themselves trapped.

Another recurring theme is the broker’s alleged tactic of using misinformation to push clients into losing trades, then refusing to allow the remaining balance to be withdrawn. One reviewer recounted losing $7,000 on a trade after 'constant reassurance' from a broker agent, only to have the subsequent $805 withdrawal approved within a week but never actually paid out. Such stories suggest that Naqdi’s business model may depend on making it extremely difficult for clients to ever see their money again.

The brokerage industry has a familiar script for scams: make deposits painless to lure victims, then erect insurmountable barriers when they try to withdraw. Naqdi’s behaviour matches this pattern. Multiple reviews note that account openings and deposits are instantaneous — 'they received in 1 minute,' one writes. Yet withdrawal requests are ignored, delayed, or met with demands for additional documentation that never quite resolves the request.

Even among the minority of positive withdrawal experiences, the tone is suspiciously generic. Phrases like 'Naqdi streamlines fund movements' appear to be templated or incentivised, clashing starkly with the raw anger of the negative majority. A broker that genuinely processes withdrawals fairly would not accumulate such a damning record of complaints.

Naqdi holds an FSCA licence (No. 51598) in South Africa, which it promotes as a mark of trust. However, an FSCA licence alone does not guarantee that your money is safe or that withdrawals will be honoured. South Africa’s regulatory framework is less stringent than top-tier jurisdictions like the FCA or ASIC, and we have seen numerous FSCA-regulated brokers engage in predatory behaviour.

The licence provides a complaints mechanism, but enforcement can be slow and outcomes uncertain, especially for international clients. Moreover, the presence of clone/impersonator websites — at least three have been identified — adds another layer of risk. Traders must ensure they are dealing with the genuine entity and not a scam copycat; even the genuine entity, however, appears to be failing its clients.

Our assessment draws on multiple red flags: a near-total lack of funding transparency, a Trustpilot score of 2.3, dozens of withdrawal-related complaints, and a scam risk score of 45/100 (Guarded) from FXCanary. We also note that the company was founded only in August 2024, yet its promotional material claims a founding date of 2010 — a discrepancy that further damages credibility.

For traders considering Naqdi, the funding-related risks are clear. Deposits may be accepted easily, but getting money out could be a struggle. If you do choose to test the broker, we strongly recommend starting with the smallest possible deposit and attempting a withdrawal immediately, before committing any significant capital. Document every interaction and be prepared to escalate to the FSCA if funds are withheld.

Until Naqdi provides full, public disclosure of its deposit and withdrawal methods, fees, and processing times, we cannot recommend funding an account. The broker’s own silence forces reliance on user reports, which overwhelmingly warn of blocked or endlessly delayed withdrawals. No amount of promised trading performance can compensate for the inability to access your own money.

If you decide to proceed, use only payment methods that offer strong buyer protection, such as credit cards, where chargebacks may be an option. Avoid cryptocurrency deposits unless you are willing to accept that they are essentially irreversible. Above all, test the withdrawal process early and refuse to deposit more than you can afford to lose. In our view, the evidence strongly suggests that Naqdi’s funding infrastructure is designed to benefit the broker, not the trader.