NovaTech- Some Detailed Information about This Broker
abstrak：NovaTech, a trading name of NovaTech LTD, is allegedly a forex broker founded in 2019 and registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with leverage up to 1:100 on the MT5 trading platform, as well as 24/7 customer support service.
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 | forex pairs, commodities, indices and stocks |
| Account Type | Standard |
| Demo Account | yes |
| Maximum Leverage | 1:100 |
| Spread | N/A |
| Commission | N/A |
| Trading Platform | MT5 |
| Minimum Deposit | $99 |
| Deposit & Withdrawal Method | cryptocurrency |
NovaTech, a trading name of NovaTech LTD, is allegedly a forex broker founded in 2019 and registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with leverage up to 1:100 on the MT5 trading platform, as well as 24/7 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that NovaTech 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 1.40/10. Please be aware of the risk.
Note: The screenshot date is January 13, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Market Instruments
Tradable financial instruments available on the NoveTech platform include forex pairs, commodities, indices and stocks.
Account Types
NovaTech offers demo accounts and live accounts with a minimum deposit requirement of $99. This isnt a high amount to start with, yet some legit brokers require even less. Since NovaTech is an unregulated broker, traders should stay away from it and not deposit here.
Leverage
The maximum trading leverage offered by NovaTech is up to 1:100. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.
Trading Platform Available
NovaTech says to use MetaQuotes latest platform, the MetaTrader5 (MT5), available for Windows, iOS and Android. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality. The MT5 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
When it comes to deposit and withdrawal methods, NovaTech works only with cryptocurrencies, such as BTC, LTC, and ETH. However, funding through a crypto wallet can be very risky, traders should choose those brokers who support Visa, Mastercard, etc. The broker also says that there are no deposit fees charged.
Bonuses
NovaTech claims to offer various bonuses. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.
Customer Support
NovaTechs customer support can be reached Mon-Fri, 8:30 AM to 6:30 PM (Pacific Time) by telephone: 1-904-944-6682, email: Support@novatechfx.com, info@novatechfx.com. You can also follow this broker on social networks such as Twitter, Instagram and YouTube. Company address: Suite 305, Griffith Corporate Center PO Box 1510 Beachmont Kingstown, Saint George, VC0120.
Pros & Cons
| Pros | Cons |
| •Wide range of trading instruments | • No regulation |
| • Demo accounts available | • Cryptocurrency payment only |
| • MT5 supported |
Frequently Asked Questions (FAQs)
| Q 1: | Is NovaTech regulated？ |
| A 1: | No. It has been verified that NovaTech currently has no valid regulation. |
| Q 2: | Does NovaTech offer demo accounts？ |
| A 2: | Yes. |
| Q 3: | Does NovaTech offer the industry-standard MT4 & MT5？ |
| A 3: | Yes. NovaTech supports MT5. |
| Q 4: | What is the minimum deposit for NovaTech？ |
| A 4: | The minimum initial deposit with NovaTech is $99. |
| Q 5: | Is NovaTech a good broker for beginners？ |
| A 5: | No. NovaTech is not a good choice for beginners. Though it offers demo MT5 accounts, never forget that it is unregulated. |
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