Novox Spreads, leverage, minimum deposit Revealed
WikiFX | 2021-04-21 14:27Abstract： NOVOX is a regulated broker, offering a wide range of financial instrument categories, including forex, commodities, indices, cryptocurrencies, and stocks with leverage up to 1:30 and spread from 0.0 pips on the MT4 platform. The minimum deposit requirement is $200.
Note: NOVOX's official website: https://www.novoxfx.eu/ is currently inaccessible normally.
| NOVOX Review Summary | |
| Founded | 2014 |
| Registered Country/Region | Cyprus |
| Regulation | ASIC (Revoked) |
| Market Instruments | Forex, commodities, indices, cryptocurrencies, stocks |
| Demo Account | ✅ |
| Leverage | Up to 1:30 |
| Spread | From 2.4 pips (Standard Account) |
| Trading Platform | MT4 |
| Minimum Deposit | $200 |
| Customer Support | Tel: +357 25 267 880 |
| Email: info@novoxfx.com | |
| Facebook: https://www.facebook.com/NOVOX-Group-352837095367991 | |
| Instagram: https://www.instagram.com/novoxglobal/ | |
| Regional Restrictions | the USA, Yemen, Syria, North Korea, Puerto Rico |
NOVOX Information
NOVOX is a regulated broker, offering a wide range of financial instrument categories, including forex, commodities, indices, cryptocurrencies, and stocks with leverage up to 1:30 and spread from 0.0 pips on the MT4 platform. The minimum deposit requirement is $200.
Pros and Cons
| Pros | Cons |
| Popular payment options | Regional restrictions |
| Demo accounts | Revoked ASIC license |
| Various trading products | Inaccessible website |
| MT4 platform | High minimum deposit requirement |
Is NOVOX Legit?
NOVOX's Australia Securities & Investment Commission (ASIC) license is revoked. Please be aware of the risks!
| Regulated Country | Regulator | Current Status | Regulated Entity | License Type | License No. |
| Australia | ASIC | Revoked | NOVOX GROUP PTY LTD | Appointed Representative | 001274982 |
What Can I Trade on NOVOX?
Novox offers investor trading instruments including forex, commodities, indices, cryptocurrencies, and stocks.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Stocks | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| ETFs | ❌ |
| Bonds | ❌ |
| Options | ❌ |
Account Type
Here are three account options offered by Novox: Standard account, Xero account, andPremium account. Besides, demo accounts are also available, which enables traders to monitor exicution before opening a live account.
| Account Type | Minimum Deposit |
| Standard | $200 |
| Xero | $25,000 |
| Premium | $50,000 |
Leverage
The leverage offered to the customers is the same for all account types on FX, up to 1:30 and on CFDs up to 1:20.
| Trading Asset | Maximum Leverage |
| FX | 1:30 |
| CFDs | 1:20 |
It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital.
NOVOX Fees
| Account Type | Spread | Commission |
| Standard | From 2.4 pips | 0 |
| Xero | From 0.0 pips | $5.5 |
| Premium | $4 |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | PC, web, mobile | Beginners |
| MT5 | ❌ | / | Experienced traders |
Deposit and Withdrawal
Novox accepts payments via COINPAY, U-PAYMENT, UnionPay, Visa, MasterCard, Skrill, Neteller, POLi, Bitwallet, NLV and bank wire.
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