Popular Kenyan forex trading duo Nebs Mordechai and his wife, Nyathira, have shared their distress on social media after being locked out of their trading accounts.
The couple revealed that their accounts with the international broker Pocket Option were suddenly blocked, leaving millions of shillings inaccessible.
In an emotional video shared with their followers, Mordechai demonstrated his inability to access the funds. He showed a login screen displaying a stark message: "Your account has been blocked for violation."
A Multi-Million Shilling Blow
The financial impact of the freeze is significant. Mordechai confirmed that the couple has lost access to over $40,000, which translates to more than 4.3 million Kenyan shillings.
The trader, known for his transparency regarding his account balances, expressed shock at the sudden move. He noted that he has historically trusted his brokers, often flaunting his balances as a sign of success.
“We have lost over $40,000 today. I’m trying to login but it keeps on telling me that the account has been blocked,” Nebz said emotionally.
The "Abnormal Activity" Dispute
The couple claims the broker cited "abnormal trading activity" as the reason for the ban. According to Mordechai, the platform specifically flagged the use of automated trading software.
He explained that he had contacted the support team, only to be told that the platform had updated its regulations to avoid automation.
Mordechai admitted that he had noticed a significant drop in his "win rate" recently, which is why he had stopped posting about the platform for some time.
"I didn't want to give people false hope," Mordechai said. "I couldn't show people I was winning when, deep down, the win rate had become terrible,” he added.
A Narrow Escape
While the loss of 4.3 million shillings is substantial, the couple revealed they narrowly avoided a much larger catastrophe. Only a few weeks prior to the freeze on 6 May, Nyathira had successfully withdrawn $60,000.
Mordechai noted they had been close to losing over $100,000 in total. They even filmed the large withdrawal with professional videographers, a video they intend to share with their audience soon.
"We were this close to losing over $100,000."
Lessons for the Trading Community
The incident has prompted the couple to warn other traders about the risks of using international brokers that lack a local physical presence. Mordechai lamented that unlike brokers like HFM, which have offices in areas like Westlands, Nairobi, Pocket Option offers no physical location for traders to voice their grievances.
"If this was HFM, I would be at the gate right now demanding my money," Mordechai remarked.
He concluded by advising his followers not to treat trading brokers as banks. He expressed regret for not withdrawing the funds sooner to spend or invest elsewhere, rather than leaving the capital sitting in a vulnerable account.
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