If you look at the company’s website, you will see a bunch of nonsense bragging information. Yet, none of that can be backed up with some real facts. Fairly, nothing more is expected from an anonymous company that can’t even reveal its legal name.

In addition to that, they don’t even offer a single phone number. Yet, they expect you to trust them with your hard-earned money. Therefore, to see more reasons why not to trust them, read this NovaTrades review carefully.

Legal info: Is NovaTrades Legit or A Scam?

With a presented address in Australia, it should be quite easy to investigate NovaTrades’ legitimacy. We just have to check the ASIC registers, and voila. The truth is there. The company was not found in their database of regulated firms.

Another thing is that the company mainly targets European countries. Therefore, they should have at least one European license. For instance, it can be issued by BaFin, FCA, FMA, or something similar. Sadly, that’s not the case. To see how transparent a company should operate, check our Paybis review.

Who are NovaTrades’s Victims?

Even though the company presents itself as an established and proven investment firm, some details simply don’t add up. They claim to have $649 billion in assets under management. Thus, with their domain registered only four months ago, we highly doubt it. Since then, these fake investment services were mainly advertised for traders from: 

• Germany
• Austria
• Switzerland
• Netherlands

If you are one of those, feel free to share your experience with us. After all, the NovaTrades reviews they present can’t be trusted either. Not to mention, none of those reviews are publicly available. With this in mind, if you experience any issues with this firm, contact our refund team as soon as possible for a free consultation.

Leverage, Commissions, Spreads, Fees and Taxes

One huge disadvantage of the NovaTrades investment company is its lack of transparency about investment costs. According to their presentation, it appears they don’t charge anything. But that’s exactly the catch. They take everything away from their traders.

Bonuses

With quite a poor presentation of NovaTrades plans, finding any relevant details about bonus offers is hard. If there are any, make sure to check all the conditions first. You might get stuck during the withdrawal procedure if you do it after accepting any bonus.

NovaTrades Trading Features

Generally speaking, all the features this company offers include management services. In reality, traders have very little control over their investments. 

Therefore, the only thing they have to do is deposit the money and let these shady investors do their job. Yet, with an untrusted platform, it’s quite easy to manipulate data and present traders with the results they were hoping for.

Trading Platforms Available

Since the NovaTrades services are related to managed accounts, the company doesn’t offer a regular trading platform. Instead, traders most likely get access to a fictive dashboard where all trades can be monitored. However, we believe it’s way better to have control over your investments.

Available Trading Assets

According to the company, they invest in a wide range of instrument categories. But without precise information, it’s all highly questionable. 

Anyway, some of the options are real estate, alternative assets like commodities, cannabis, and infrastructure, as well as NFPs and mutual funds. All in all, there are too many complications for such a simple business.

Account Types

After creating the NovaTrades account, traders are required to deposit at least $1.000 to get started with investments. The company also mentions additional investment packages and accounts. Of course, these are hidden from the public.

Mobile Trading App

The company’s tactics look quite cheesy. They mention mobile trading apps are critical for any trader to have a seamless trading experience. Yet, they don’t offer any.

Demo Account

Generally speaking, investment firms that offer managed services don’t offer any trial options or demo accounts. Unfortunately, after completing the NovaTrades login process, there are two options – deposit and risk $1.000 or be patient and look for another broker.

Education

If you plan to improve your finances in the future, education means everything. However, these investment firms that manage your portfolio don’t offer any educational programs. After all, they are so-called experts, and you should trust them blindly. 

Yet, our Bybit review can show you that’s not always the case.

NovaTrades Withdrawal

With quite poor T&Cs, lack of regulations, and non-transparent services, the NovaTrades withdrawal issues are inevitable. Firstly, traders don’t have all withdrawal options transparently presented. They do not know how long it takes to withdraw the funds or if any fees are applied.

It seems everything is subject to change without prior notice. Therefore, traders can expect delayed withdrawals due to verification problems, KYC and AML laws, but also unpaid fees or taxes.

Customer Support

If you trust your money to some company, you would expect them to offer transparent contact options. Sadly, with NovaTrades scam company, that’s not the case. All contact options are reserved for registered users. And that’s not something that represents credibility.

Key Information To Consider About NovaTrades

Whatever you look at about this broker, it sounds misleading. Especially their registration in Australia, which is still without any regulatory oversight. All in all, the company offers unclear services and, more importantly, unclear trading costs. Consequently, traders can only expect problems.

With this in mind, we invite all traders who have experience with this firm to share it with us. Ultimately, our chargeback specialists can analyze your case and offer an adequate solution. Primarily, it is to recover the money lost to investment scams. For a free first consultation, reach out right away.

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