Novazx

WikiFX | 2024-09-14 10:43

Abstract：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.

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
Email	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.