Novox Spreads, leverage, minimum deposit Revealed

WikiFX | 2021-04-21 14:27

Abstract：Novox was founded in 2014 and developed into a leader in the field of Contracts for Difference (CFDs), obtaining licenses from the Cyprus Securities and Exchange Commission (CySEC) and 15 other EU countries, acquiring Novox Capital. 2015 saw the award for the Fastest Growing CFD Broker across Europe, and in 2016 the operations center in Asia grew rapidly, with a team of 200 employees. In 2018, the broker successfully launched the MT5 trading platform, allowing iOS and Android users to trade online and reference stocks to its trading portfolio. In 2020, it kept introducing cutting-edge technology, launching innovative solutions for more than 10 countries and regions, allowing clients worldwide to join the market immediately.

　　General Information & Regulation

　　Novox Capital LTD is registered in Cyprus – with company registration number 292182. NOVOX brand is authorized and regulated in various jurisdictions. For example, Novox Capital Limited (www.novoxfx.eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 224/14. NOVOX brand does not provide services to residents of the USA, Yemen, Syria, North Korea, Puerto Rico.

　　Market Instruments

　　This broker offers investors six main categories of tradable instruments: Forex, Commodities, Futures, Cryptocurrencies, Indices, and Stocks.

　　Minimum Deposit

　　Novox offers four account types to meet different clients' investment needs and strategies, mainly MT4 Standard and MT4 Zero accounts, and MT5 Standard and MT5 Zero accounts. The minimum deposit for a Standard account is $500 and for a Zero account is $5,000. All accounts have constant leverage of 1:400.

　　Novox Leverage

　　Trading leverage vary depending on instruments traded. Novox, as a Cyprus based broker, offers the maximum leverage up to 1:30 for forex trading, 1:20 for CFD trading.

　　Spreads & Commissions

　　In terms of spreads and commissions, the Min.Spread for the standard account is around 2.4 pips, with no commissons on forex trading; the Min. spread for the Xero account from 0.0 pips, with a commission of $5.5 per side; the Min. Spread for the Premium account from 0.0 pips, with a commission of $4 per lot.

　　Trading Platforms

　　Novox offers users the Novox MT4 and Novox MT5 trading platforms, both of which offer a wealth of opportunities for traders of all skill levels, advanced analytics, flexible trading systems, algorithmic trading, and expert advisors, as well as mobile trading applications. Over a hundred instruments can be traded on the MT4 platform, including Forex, CFDs, and Futures, with full EA functionality for one-click trading, technical analysis tools with 50 indicators and charting tools, 3 chart types, allowing hedging trading mode. MT5 has all the features of MT4; besides, it has more than 80 technical analysis objects, the latest quotes for market depth.

　　Trading Tools

　　Apart from the various built-in tools of the MT4 and MT5 trading platforms, traders are provided with some standalone trading tools to help them get the best out of their trades. These tools include some social trading tools, an economic calendar, and more.

　　Deposit & Withdrawal

　　Novox offers its clients a wide selection of payment options for its clients to make a deposit and withdrawal. These payment options incudes COINPAY, UnionPay, VISA, MasterCard, Skrill, Neteller, PoLi, Bitwallet, NLV, PayTrust, Bank Wire.

　　Customer Support

　　Novox provides traders with a knowledgeable customer support team who can be contacted via any of the following contact channels: telephone, email, Live Chat, and social media.

　　 Educational Resources

　　As for educational resources offered by this brokerage, Trading Guide and Q&A make up its major educational resource section. Besides, Forex News section is also available for traders to get an idea of what happen in the forex industry.