If you’ve ever worked with a NovaTechFX broker, you are aware that withdrawal requests might be difficult to process.
It goes without saying that if you start to obtain the greatest, you won’t proceed to request a refund after novatechfx login. Even the quality is there already. The next step is to request a refund if it doesn’t meet your needs.
Let’s look at the answer by reading this novatechfx reviews.
Overview
“Is novatech a scam?” Lets figure out the answer throughout this review. Online Forex broker NovatechFX is a scam that provides financial services. It has been running since 2019 and is probably a Ponzi or MLM scheme.
Its owners are NovaTech LTD, NovaTech Advisors LLC, and NovaTrading OÜ, and it is situated in Saint Vincent and the Grenadines at Griffith Corporate Center, Suite 305, PO Box 1510, Beachmont Kingstown, GE VC0120.
They may be reached at support@novatechfx.com or by phone at + 1 904 944 6682.
You may find their website at www novatechfx.com.
Broker status: | Offshore Broker |
Regulated by: | Unlicensed Scam Brokerage |
Scammers Websites: | novatechfx.com |
Blacklisted as a Scam by: | N/A |
Owned by: | NovaTech, Ltd |
Headquarters Country: | Saint Vincent and the Grenadines |
Foundation year: | 2019 |
Supported Platforms: | Meta Trader 5 (MT5) |
Minimum Deposit: | $99 |
Cryptocurrencies: | Yes |
Types of Assets: | Forex, Cryptocurrencies |
Maximum Leverage: | 1:100 |
Free Demo Account: | Yes |
Accepts US clients: | No |
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Is NovaTech FX Legit?
Cynthia Petion, the CEO of the business, was one of the key figures behind AWS Mining, another dubious trading entity. The broker NovaTechFX claims to be based in Saint Vincent and the Grenadines. However, it is questionable enough that anyone may register a business without ever setting foot in the area.
The corporation is governed by a highly murky regime with no trustworthy regulating authority. This broker cannot guarantee any protection for your money because it is not legitimate. Your money will vanish along with the website if the business shuts it down.
The business is unregulated, and the proprietor has a history of defrauding individuals. Money may only be deposited through a wire transfer or a cryptocurrency transaction.
What Kind Of Currency Pair Do They Offer?
Another brain knocking feature of NovaTech scam is their currency pair offerings.
Only two assets are provided by NovaTechFX:
Pairs of currencies: EUR/USD, GBP/USD, and AUD/CAD.
NovaTech crypto: Bitcoin, Ethereum, and XRP
There’s a solid reason why this sounds constricting. Trading in indices, commodities, and equities is something you’re losing out on.
Customer Support
The broker will go to any lengths to get in touch with you when reaching out to you. They may phone you several times per day or even several times per hour. They’ll make an effort to contact you via email, WhatsApp, or Telegram. But if you want to call them, you’re out of luck since they don’t have a phone number. Only opening a ticket on their website will allow you to contact them.
NovaTech Trading Reviews (MT4 or MT5)
If you’ve ever seen a NovaTechFX promotional video, you’ll basically notice that they’re asking you to start with just $99 and work your way up to $5,000 every day to start novatech trading.
After investing, you’ll receive an MT5, which is fantastic. However, leverage on the platform is only limited to 1:30 or 1:50 for the Forex market by EU and US regulations, but it is up to 1:100 on the platform. Meaning that you are in danger right now.
This company’s account managers will entice you to invest more money by promising you greater returns. Additionally, they will advertise a variety of false earnings on the site in an effort to get you to spend more. However, you cannot withdraw your money after making that decision.
What To Do If You Get Scammed?
One of the best ponzi scheme examples is NovatechFX scam. Trading in the actual world is just not viable given the unrealistic monthly earnings promised by the firm to traders. Avoid NovatechFX at all costs since its only goal is to steal your money.
You must pay between $49.99 and $100.000 (you read that right) to sign up for their Affiliate program in order to become a member. The unfortunate truth is that the only way to profit from the program is through enlisting more participants. Simply said, NovatechFX is a pyramid scheme focused on recruiting that passes for a multi-level marketing opportunity. For the program to continue, the corporation needs fresh recruits, and those who don’t bring in more will eventually forfeit their money.
But, if you are already scammed by NovaTechFX, and you are looking for a way to recover your money, just simply report the scam below form and our expert will analyze your report and will let you know how can you recover your money.
File A Complaint Against Scam Broker's
Final Thoughts
After reading this novatech review we hope you are already get the answer of “Is NovaTech Legit?”. You cannot event find any novatechfx app on internet. Don’t fall on their trap and keep safe your investment.
