NovaTech- Some Detailed Information about This Broker

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

NovaTech, a trading name of NovaTech LTD, is allegedly a forex broker founded in 2019 and registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with leverage up to 1:100 on the MT5 trading platform, as well as 24/7 customer support service. Here is the home page of this brokers official site:

As for regulation, it has been verified that NovaTech currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.40/10. Please be aware of the risk.

Note: The screenshot date is January 13, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.

Market Instruments

Tradable financial instruments available on the NoveTech platform include forex pairs, commodities, indices and stocks.

Account Types

NovaTech offers demo accounts and live accounts with a minimum deposit requirement of $99. This isnt a high amount to start with, yet some legit brokers require even less. Since NovaTech is an unregulated broker, traders should stay away from it and not deposit here.

Leverage

The maximum trading leverage offered by NovaTech is up to 1:100. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.

Trading Platform Available

NovaTech says to use MetaQuotes latest platform, the MetaTrader5 (MT5), available for Windows, iOS and Android. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality. The MT5 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.

Deposit & Withdrawal

When it comes to deposit and withdrawal methods, NovaTech works only with cryptocurrencies, such as BTC, LTC, and ETH. However, funding through a crypto wallet can be very risky, traders should choose those brokers who support Visa, Mastercard, etc. The broker also says that there are no deposit fees charged.

Bonuses

NovaTech claims to offer various bonuses. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.

Customer Support

NovaTechs customer support can be reached Mon-Fri, 8:30 AM to 6:30 PM (Pacific Time) by telephone: 1-904-944-6682, email: Support@novatechfx.com, info@novatechfx.com. You can also follow this broker on social networks such as Twitter, Instagram and YouTube. Company address: Suite 305, Griffith Corporate Center PO Box 1510 Beachmont Kingstown, Saint George, VC0120.

Pros & Cons

Frequently Asked Questions (FAQs)