NovaTechFX is a Forex and cryptocurrency broker that boasts a zero-commission trading platform and razor-thin spreads. Is NovaTechfx Website Not Working? We did a complete NovaTechFX review and laid out everything you need to know about this broker.
Is NovaTechFX Safe and Regulated？ – Why Is Regulation Important?
It’s essential to think about your broker before making any investment decisions. It suggests familiarity with the property’s proprietor, location, and restrictions. Yes, NovaTechFX was a significant letdown.
The broker is owned by NovaTech LLC, based in Saint Vincent and the Grenadines; however, the island nation does not have a central financial regulator, so NovaTech is operating illegally. But the company also has locations in Miami, Florida, and Tallinn, Estonia.
What Is the Problem with NovaTechFX’s License？
After looking into FCA, ASIC, BaFin, the CFTC, and a few other Tier1 registrants, we found no evidence of NovaTechFX regulation. It follows that your transactions are not safe, and there is no promise of a return.
All investment firms are required by regulatory bodies like the ones outlined above to maintain a compensation fund of at least 700,000 EUR to compensate victims of fraud.
Problems Accessing Your NovaTechFX Account Could Be A Sign Of A Scam.
Customers have mentioned that NovaTechFX login issues occur frequently. Even though this sentence may sound ridiculous, it is something every consumer hears when asking for a withdrawal. NovaTechFX is a forex brokerage that uses this practice to trick its clients into giving over their money.
Unfortunately, your account may become inaccessible due to technical difficulties when you’ve decided to cash out your investments and are ready to do so. Please notify the authorities immediately if you have such an experience. Furthermore, VisionForex, Stanford FX, and City Index are unlicensed brokers you should avoid.
NovaTechFX Negative Reviews – NovaTechFX Cleaned My Deposit
We found multiple reviews where customers complained that NovaTechFX “cleaned their money.” Consequently, we were left wondering, “What does it mean?” Even though NovaTechFX doesn’t offer the standard options for trading accounts, it does give its clients a few distinct options: managed accounts, self-directed trading, and affiliate membership.
Business plans sound more like insurance or retirement plans, but you’ll need to pick one regardless. After choosing your plan and beginning service, you may not see any money in your account, even if you have recently made a payment. The company will insist they never received the money, even if your bank records prove otherwise. When rules are as questionable as the broker, this is the result.
Trading Platforms Supported – Trading Software Available
A new version of MetaTrader, MT5, is NovaTechFX’s and their clients’ only trading platform option. Check out the visuals and see if your gadget can use it.
MT5 stands for MetaTrader 5 Platform.
Clients are still using MT4, although MT5 is a more robust upgrade from MT4. How come this is happening? Because MT4 has so many other charts and indicators to choose from. In contrast to its predecessor, MetaTrader, MT5 improves upon its predecessor in many ways.
Trading Mobile App for iOS and Android
The MetaTrader has a mobile app, as do all previous MetaTrader. It works with iPads and other tablet computers running iOS or Android.
NovaTechFX’s Trading Instruments and Markets
This brokerage only offers currency pairs and cryptocurrencies, which may limit some. We could argue that it is consistent with the true meaning of foreign exchange trading. But because of the lack of diversity, there is a vast supply of these assets on the market.
The spread for the EUR/USD pair is 2.2 pips, and the broker’s default leverage is 1:100, which we would consider low or competitive.
To what end might this RoboForex signup bonus be put to use?
Using the extra money, you may easily make trades and profit. You can freely cash out any earnings. As a bonus, this is your chance to expand your current modest savings. Stable trading tactics can lead to impressive gains. Therefore, the size of your trading account is irrelevant.
However, there is one significant drawback to having a limited trading account. There is a chance of losing everything before you get on a winning streak. This is because a limited trading budget limits the magnitude of trading errors that can be made. However, because there is no cost involved, what have you got to lose?
The Roboforex free bonus money can be used to trade more than 36 different FX pairs, metals, and CFDs. As a bonus, RoboForex supports trading on MT4 and MT5 platforms. As a result, you’ll have as many choices as any other broker customer.