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Novelis Capital Spreads, leverage, minimum deposit Revealed

WikiFX | 2022-11-22 12:24

Abstract：Novelis Capital, a trading name of Gnarly Solutions LTD, is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with 2,000+ tradable financial instruments with flexible leverage up to 1:100 and floating spreads around 3 pips on the web-based trading platform via four different live account types.

　　Risk Warning

　　Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

　　General Information & Regulation

Feature	Detail
Regulation	No Regulation
Market Instrument	2,000+ instruments:currency pairs, stocks, cryptocurrencies, indices and commodities
Account Type	Silver, Gold, Pro and VIP
Demo Account	N/A
Maximum Leverage	1:100
Spread (EUR/USD)	3 pips
Commission	N/A
Trading Platform	web
Minimum Deposit	$250
Deposit & Withdrawal Method	Visa, Wire Transfer, Piastrix, Verified by Visa, Maestro, MasterCard and MasterCard SecureCode

　　Novelis Capital, a trading name of Gnarly Solutions LTD, is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with 2,000+ tradable financial instruments with flexible leverage up to 1:100 and floating spreads around 3 pips on the web-based trading platform via four different live account types. Here is the home page of this brokers official site:

　　As for regulation, it has been verified that Novelis Capital currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.17/10. Please be aware of the risk.

　　Market Instruments

　　Novelis Capital advertises that it offers over 2,000 trading instruments comprising the most promising assets: currency pairs, stocks, cryptocurrencies, indices and commodities.

　　Account Types

　　Novelis Capital claims to offer four types of trading accounts - Silver, Gold, Pro and VIP, with minimum initial deposit requirements of $250, $1,000, $5,000 and $10,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

　　Leverage

　　The specified leverage for different account types at Novelis Capital varies between 1:20 and 1:100. Specifically, 1:20 for Silver, 1:50 for Gold, 1:80 for Pro and 1:100 for VIP. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

　　Spreads

　　Novelis Capital claims to offer narrow spreads but unspecified. The spreads we got on their platform were around 3 pips on EUR/USD.

　　Trading Platform Available

　　The platform available for trading at Novelis Capital is web-based. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.

　　Deposit & Withdrawal

　　From the logos shown at the foot of the home page on Novelis Capitals official website, we found that this broker seems to accept numerous means of deposit and withdrawal choices, consisting of Visa, Wire Transfer, Piastrix, Verified by Visa, Maestro, MasterCard and MasterCard SecureCode. The minimum initial deposit requirement is said to be $250.

　　Bonuses

　　Novelis Capital claims to offer some bonuses, however, the bonus can only be withdrawn subject to execution of a minimum trading volume of 25 times the deposit amount plus the bonus issued.

　　Customer Support

　　Novelis Capital‘s customer support can be reached by email: support@novelis.capital or send messages online to get in touch. Registered Office: Suite 305, Griffith Corporate Centre, Kingstown P.O. Box 1510 St. Vincent and the Grenadines. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most transparent brokers offer.

　　Pros & Cons

Pros	Cons
• Multiple instruments, account types and payment options to choose from	• No regulation
	• Wide EUR/USD spreads (3 pips)
	• High minimum deposit ($250)

　　Frequently Asked Questions (FAQs)

Q 1:	Is Novelis Capital regulated？
A 1:	No. It has been verified that Novelis Capital currently has no valid regulation.

Q 2:	Does Novelis Capital offer the industry-standard MT4 & MT5？
A 2:	No. Instead, Novelis Capital offers a web-based platform.

Q 3:	What is the minimum deposit for Novelis Capital？
A 3:	The minimum initial deposit with Novelis Capital is $250.

Q 4:	Does Novelis Capital charge a fee？
A 4:	Like every forex broker, Novelis Capital charges a spread fee, while the information on other fees like commissions and deposits & withdrawals is missing.

Q 5:	Is Novelis Capital a good broker for beginners？
A 5:	No. Novelis Capital is not a good choice for beginners. Not only because of its unregulated condition, but also because of its high initial deposit requirement and bad trading environment.