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No Regulation
Score
1.07 /10
Danger
Novazx
Within 1 yearSuspicious Regulatory License
High potential risk
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Comparison
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Exposure
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Website
Score
Regulatory Index0.00
Business Index3.64
Risk Management Index0.00
Software Index4.00
License Index0.00
Open Account
Website
Licenses
No valid regulatory information, please be aware of the risk
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
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Warning: Low score, please stay away!
2
Previous Detection :
2024-09-30
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The current information shows that this broker does not have a trading software. Please be aware!
WikiFX Verification
To satisfy traders of different experience levels, Novazx provides four account types: Mini, Classic, Premium, and Executive. Anyway, with a minimum deposit of $2,500, many traders may prefer a cheaper broker.
Pros and Cons
| Pros | Cons |
| Multiple trading assets | High minimum deposit |
| Various account types | Not regulated |
| 7/24 customer support | No free demo accounts |
Is Novazx Legit?
Novazx was established in the United Kingdom by NameCheap. Inc.; however, the FCA, the local financial regulator, does not have any information relating to it.
What Can I Trade on Novazx?
Novazx offers 7 trading options, including forex, CFDs, stocks, cryptos, currency pairs, commodities and indices.
| Tradable Instruments | Supported |
| Forex | ✔ |
| CFDs | ✔ |
| Stocks | ✔ |
| Cryptos | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Metals | ❌ |
Account Type
Novazx provides 4 account types: Mini, Classic, Premium and Executive.
Mini accounts are suitable for small and new traders.
Classic accounts are suitable for experienced investors.
Premium accounts fit for professional ones.
Executive accounts are for institutional investors.
| Account Type | Minimum Deposit | Maximum leverage |
| Mini | $2,500 | 1:100 |
| Classic | $5,000 | |
| Premium | $25,000 | |
| Executive | $100,000 |
Novazx Fees
Novazx claims to offer low and competitive spreads but not specified. And also, no any info on commissions. The only available info on fees is their inactivity fee ($36 monthly).
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| Web trader | ✔ | Windows | Beginners |
Deposit and Withdrawal
Novazx requires a minimum deposit of $2,500. But the minimum withdrawal is not mentioned.
Deposit Options
| Deposit Options | Min. Deposit | Processing Time |
| Bank transfer | $2,500 | Within 2 business days |
Withdrawal Options
| Withdrawal Options | Min. Withdrawal | Processing Time |
| Credit cards | Not metioned | Within 2 business days |
| Crypto | Not metioned | Within 2 business days |
Customer Service
| Contact Options | Details |
| Phone | +27784856839 |
| support@novazx.com | |
| Support Ticket System | ❌ |
| Online Chat | 24/7 |
| Social Media | ❌ |
| Supported Language | English |
| Website Language | English |
| Physical Address | Royal Chambers Business Centre, Royal Ave, Guernsey GY1 1WA, Guernsey |
The Bottom Line
To sum up, Novazx is friendly to customers and provides a 24/7 online chat to resolve customers' issues at any time. On the other hand, no demo accounts may result in the loss of many beginners. This broker is well-suited for customers who want to invest in the long term and don't care about regulation.
FAQs
Is Novazx safe?
No, Novazx is not regulated.
Is Novazx good for day trading?
No, because the processing time of deposit and withdrawal is too long (2 days).
What kind of trading platform does Novazx offer?
Instead of the industry-leading MT4/5, Novazx only offers a web trader.
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