NovaTechFX Broker Review: How Did We Expose the NovaTechFX.com Trading Scam?

The NovaTechFX broker is supposed to provide the greatest trading experience in the Forex and cryptocurrency markets while charging ultra-low fees and spreads. We have a few offices listed on the main page, but no rules.

As a result, we conducted a thorough NovaTechFX review and described everything about this company!

Is NovaTechFX Safe And Regulated？ - Why Is Regulation Important？

When considering investing, the first thing to consider is who your broker is. It implies that you should be aware of the owner, location, rules, and regulations, among other things. When it comes to NovaTechFX, we must admit that it was a letdown. NovaTech LLC from Saint Vincent and the Grenadines owns the broker, which means it lacks a license since the nation lacks an established financial authority.

However, the corporation mentioned two more offices: one in Miami, Florida, and one in Tallinn, Estonia. Nonetheless, we discovered no clear link between the US corporation and the offshore entity, and having an office in Estonia signifies nothing given the country's reputation.

What Is the Problem With NovaTechFX's License？

We discovered no NovaTechFX regulation after researching FCA, ASIC, BaFin, and even the CFTC, as well as a couple of other Tier1 registrations. This implies that your payments are not secure, and there is no assurance that you will be refunded.

Firm regulators, such as the ones described above, ensure that each investment business has a compensation fund of at least 700,000 EUR in case of fraud.

NovaTechFX Login Issues - One Of The Symptoms Of A Scam

Clients report that NovaTechFX login troubles are rather common. Even though this phrase seems ludicrous, it is something that every customer experiences when they request a withdrawal. It's a strategy used by NovaTechFX forex brokerage to deceive customers and revoke their access to money. If you feel you've invested enough and it's time to withdraw, your account will become inaccessible owing to technical issues, faults, and other issues.

If you have an encounter like this, please report it right away. Furthermore, we advise you to avoid unlicensed brokers such as VisionForex, Stanford FX, and City Index.

NovaTechFX Negative Reviews - NovaTechFX Cleaned My Deposit

While analyzing NovaTechFX evaluations, we noted that several consumers said that the broker “cleaned their money.” So we had to wonder, “What does it mean？”

NovaTechFX does not offer conventional account kinds, however, customers may select between managed accounts, trading on their own, and becoming firm affiliates. However, it is referred to as “business plans,” and you must choose one as if it were insurance or a retirement plan. Even if you've recently made a payment, you may not see any cash in your account after selecting your plan and start.

Even if your bank account reveals where the monies are, the firm will claim they never got them. This is what happens when regulation is as suspect as the broker.

Trading Platforms Supported – Trading Software Available

The sole NovaTechFX trading platform is MT5, a new version of MetaTrader. Let's have a look at how it appears and which devices support it.

MT5 stands for MetaTrader 5 Platform.

While MT5 is supposed to be a more powerful version of MT4, we've discovered that clients are still using the older version. Why is this the case？ Because MT4 provides a plethora of other charts and indicators. However, MT5 has several advantages over MetaTrader, including one-click trading, more execution orders, and an appearance that is more like an online trader.

Mobile Trading App for iOS and Android

This MetaTrader, like every other MetaTrader, features a mobile app. It's compatible with iOS and Android devices, including tablets and iPads.

NovaTechFX's Trading Instruments and Markets

While some may consider the offer to be limited, this brokerage provides just two assets: currency pairings and cryptocurrencies. We may claim that it adheres to the genuine definition of forex business. However, given the lack of diversification, the offer of these assets is very extensive.

What's not so excellent is the broker's predefined leverage of 1:100 and spread of 2.2 pips for the EUR/USD pair, which we would never describe as “low” or “competitive.”

Trading Accounts at NovaTechFX - Account Types

As previously stated, NovaTechFX offers three kinds of plans:

• Trade-On-Your-Own

• PAMM

• ffiliate

We will carefully discuss any new initiatives that arise since the majority of our customers are interested in PAMM or managed accounts.

There are six membership tiers, which are as follows:

• Builder

• Bronze

• Silver

• Gold

• Platinum

• VIP

The key difference is the amount of money and services supplied, with a VIP account purportedly also bringing cash back perks. The Builder plan requires a $99 minimum investment from NovaTechFX. However, the broker is requiring crypto deposits, which are difficult to track, so be wary of scammers.

Account Demo

In addition to Standard accounts, NovaTechFX provides a Demo account for customers to evaluate the platform and the trading assets on offer.

NovaTechFX Affiliate Program — Reminiscent of an MLM Scam？

If you're still wondering if NovaTechFX is a scam after knowing whether it's regulated and who's behind it, look into their affiliate program. To become a member, you must pay a minimum of $49.99 and enroll in an “Affiliate package.” You may invest in this one as well but without any AI software or account manager.

The fundamental goal is to introduce clients to the firm and “earn affiliate incentives.” As an MLM scam, this one requires your friends to lose money for you to get compensated.

Withdrawal Issues at NovaTechFX - No Money Withdrawal Guarantees

Having said that, you should be aware that we have never offered any withdrawal assurances. That's because you don't have any. Behind the scenes, there is no regulation, compensation fund, or governing body.

All that remains is to submit a dispute and seek a chargeback before it's too late.

Swindled By NovaTechFX Broker？ Speak With One of Our Experts Today!

NovaTechFX brokerage is said to have duped you. To schedule your free consultation with a chargeback expert, please contact us through online chat. Global Fraud Protection received a large number of complaints from NovaTechFX scam victims and assisted many of them in obtaining a refund. Let us assist you as well!

Tell us your tale, and we'll come up with the greatest money-back option for you.