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NovaTechFX is a company said to be registered in St. Vincent and the Grenadines. This zone is a shady offshore broker for forex trading and there is no official regulator for forex brokers.
Therefore this means that NovaTechFX is a non-licensed and non-regulated company and as such, it cannot provide any guarantee of the safety of the funds you invest in it.
It means that if this broker decides to shut down their website, your money will be gone. It is not a recommendation that you trade with it as your money will be at risk.
NovaTechFX Trading Platform Software
The company’s trading software consists of Meta Trader 5 platform. This platform presents lots of advantages to its users as it comes prepared with an auto trading option, trading signals, a code base with customs scripts, a financial calendar, an app market, etc.
MetaTrader 5 is an innovatory, multi-functional platform that presents superior execution, a broad range of technical tools, and advanced auto, and copy trading systems.
NovaTechFX Sign Up Procedures
- Type this link https://myrichfriends.novatechfx.com/enroll/ on the browser you’re using
- Click on the Opportunity Tab which is at the Upper Right-Hand Coner of the page, then click compare plans
- There are 3 Tabs – Join as a Customer, Join as an Affiliate, and Start Trading. but, choose between the first 2 Tabs: Join as a Customer, or Join as an Affiliate.
- Click and see the different packages, if you wish to just do a one-time investment, the lowest package is the BRONZE package.
- When deciding on the package you would like, click add funds under the package to participate in the management program.
- It will ask you to validate your Sponsor and use the ID of the person who referred you to verify your sponsor. Make sure you complete your verification.
- Next, it’ll take you to the account set-up page where you’ll see Add funds at the top of the page, you may leave it at the minimum amount or charge it to the funds you want.
- After completing the validation, you will see a QR code and an address will come up indicating where they want you to send the cryptocurrency to fund your account. It might take 24 hours before you see it.
- Copy the address or scan the QR code from Coinpayments and log into your Cryptocurrency Exchange platform.
- Go to your Cryptocurrency exchange platform or wallet where you keep your cryptocurrencies. You can go to your preferred choice of cryptocurrency from the 4 types. NovaTechFX accepts BTC, BCH, ETH, or LTC, and send the amount you chose to fund your account with to the address copied or QR code scanned from NovaTechFX.
NovaTechFX Deposit/Withdrawal Method and Fees
The trading accounts NovaTechFX presents to its clients are 6 – Builder, Bronze, Silver, Gold, Platinum, and VIP.
The minimum initial deposit for the Builder account is $99. The other accounts begin at $500, $2,500, $5,000, $10,000 and $25,000 respectively.
The payment menu for deposits and withdrawals, as shown on the company’s interface consists of payments made by the way of cryptocurrencies only.
Firstly, this limits the payment choices and secondly, it is not a good idea to pay in crypto in case one day you may wish to file a chargeback.
There’s no more information on the broker’s website regarding withdrawal methods and fees, and that’s something that a legit broker is certain to have.
NovaTechFX Company Regulation
The first thing to check out when thinking about investing your money in a broker is who owns the website.
So, this means you should know the owner, location, regulations, and lots more. However, when it comes to NovaTechFx, we are sad to say it is disappointing.
However, the website is owned by NovaTech LLC from St Vincent and the Grenadines, which means it has no license as the country has no official financial regulator.
Moreover, the company listed two more offices − in Miami, USA, and Tallinn, Estonia. Yet, it is found that there’s no apparent connection between the US entity and the offshore one while having an office in Estonia means nothing looking at the country’s reputation.
NovaTechFX Login Problems
NovaTechFX login issues are quite a regular thing. Though this sentence looks laughable, it’s something every client face once it’s time for withdrawal.
This is a tactic used by NovaTechFX forex to defraud clients and suspend their access to funds.
If you decide that you have invested much and it’s time for withdrawal, your account will suddenly become inaccessible due to technical problems, errors, and similar things.
Therefore, if you’ve experienced something similar, report it ASAP. Also, we recommend that you avoid unregulated websites, like VisionForex, Stanford FX, or City Index.
Negative NovaTechFX Review
NovaTechFX doesn’t have standard account types, but clients can choose between managed accounts, trading on theirs, and being affiliates of the company.
However, they call it “Company’s plans”, and you need to make a choice as if it was insurance or a retirement plan.
Once you select your plan and start, you might not see any funds in your account even though you’ve just made a payment.
NovaTechFX Trading Accounts
NovaTechFX has three types of plans:
- PAMM
- Affiliate
- Trade-On-Your-Own
Well, since most clients are interested in PAMM or managed accounts, in this article, we will closely discuss plans that come along.
There are 6 membership levels, which include:
- Builder
- Bronze
- Silver
- Gold
- Platinum
- VIP
The major difference is the amount of money and service provided, while allegedly, a VIP account also brings cashback rewards.
NovaTechFX’s minimum deposit is $99 for the Builder package. But the broker is forcing crypto deposits, which are hard to trace, so be aware of scams.
Mobile Trading App
Like other trading website, this one also has an app, you can download the App on Google Play Store, and IOS
Recommended: Toasttab Login & Overview | Customer service
Conclusion
NovaTechFX broker is said to offer ultra-low commissions and spreads while providing the best trading experience in the Forex and crypto markets. We have a couple of offices on the main page, yet no regulations.
Frequently Asked Questions
What is the novatechfx trading software?
The trading software of Novatechfx consists of MetaTrader 5 platform. This platform offers a lot of advantages to its traders as it comes equipped with an auto trading option, trading signals, code base with customs scripts, a financial calendar, an app market, etc.
What is the novatechfx minimum deposit and affiliate program?
Is novatechfx legit or scam?
This leverage is high and your funds will have an exposure to risk if your transactions are unsuccessful as the high leverage amplifies the scope of financial loss.
How do I upgrade my Novatech account?
Active members may use funds in their Commission and ROI e-wallets to upgrade their trading accounts by following the steps below. Select eWallet as payment method.
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