Today I am doing a review of the broker NovaTechFX.
In choosing a partner with trade in the Forex markets, you need to be as careful as possible.
And I’m going to show you what you need to check. Before you start trading with a broker
I’m doing this NovaTech broker review to show you step by step how to check out a broker before you start trading with it.
These simple steps will help you not to fall into the hands of scammers.
1.First Step – Research the NovaTechFX forex broker website
The first step is very simple, we need to explore the broker’s website.
We have also prepared a video for you:
We can check such information on the broker’s website:
|Broker Status:||Offshore Scam Broker|
|Regulated by:||Unlicensed Offshore Company (No Regulation)|
|Operating Status:||Active Forex Trading Scam|
|Broker Owner:||NovaTech Ltd|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Online Trading Platforms:||MetaTrader 5 (MT5)|
|Broker No Deposit Bonus:||Not Available|
|Available Trading Assets:||Currency Pairs (Forex), Cryptocurrencies (Cryptos)|
|Islamic Account:||Not Available|
|Free Demo Account:||Yes|
|Accepts US Clients:||US traders are not accepted|
The first thing you need to know before investing with a broker is its license and who regulates it, who owns the brand and where the head office is located. This is the security of your investment.
NovaTechFX broker is founded by NovaTech LLC is located in the offshore zone of St. Vincent and the Grenadines, which means there is no license, as there is no official financial regulator in the country.
However, the company listed two other offices – in Miami, USA, and Tallinn, Estonia. We did not find any visible connection between the U.S. and offshore companies, and having an office in Estonia does not mean anything, given the reputation of this country.
We recommend investing with companies that are regulated in TIR 1 countries – best solution:
2.Check the Traders Opinion
The next step is to check the feedback of traders who have already traded with NovaTechFX broker.
You can look at https://www.trustpilot.com/review/novatechfx.com as well as social networks – facebook, instagram
I recommend always checking in both places
In social networks we could not find information, then we decided to read reviews of other trusted websites and saw that they also do not recommend trading with the broker.
3.Check financial regulation of NovaTechFX broker
So the main question: is NovagTechFX a scammer or legitimate?
As mentioned, Saint Vincent don’t have a financial regulator. That’s why a lot of newly established brokers are choosing this particular offshore country.
After a thorough check of the FSA register, we haven’t find NovaTech forex broker or anywhere.
Of course, other financial registers have the same result – NovagTechFX doesn’t exist.
Beware of offshore scams and do not invest your money with such.
Have you been scammed by NovaTech?
There is a chance that you have been a victim of fraud by NovaTechFX or NovaTech Ltd any other illegal broker. Yes, it happens and it’s not the end. There is always a solution! You need to file a dispute and request a refund.
A chargeback is a way for your bank to reverse the transaction if you can prove that you were a victim of online fraud. Since NovaTechFX is offshore, this process requires knowledge of international processors and international banks. To get help in this matter, contact the professionals – here is the link.