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NovaTrades Broker Review

NovaTrades Broker Review
Borina
NovaTrades claims to be the most trusted digital asset exchange, and not a regular forex and CFDs broker. This motivated us to do a review and discover what is behind this interesting website. NovaTrades says it is “the fastest and safest exchange on earth”, so we wanted to see for ourselves is this true or... Read more
NovaTrades claims to be the most trusted digital asset exchange, and not a regular forex and CFDs broker. This motivated us to do a review and discover what is behind this interesting website. NovaTrades says it is “the fastest and safest exchange on earth”, so we wanted to see for ourselves is this true or just a good marketing trick. This exchange allegedly gives traders a great variety of tools and empowers them to trade in their preferred markets. It is possible to make a deposit in fiat currency or in a cryptocurrency. This broker accepts EUR, USD, GBP, Bitcoin, Ethereum and Tether. Read the NovaTrades review in the article that follows.
  1. NovaTrades claims to be the most trusted digital asset exchange, and not a regular forex and CFDs broker. This motivated us to do a review and discover what is behind this interesting website. NovaTrades says it is “the fastest and safest exchange on earth”, so we wanted to see for ourselves is this true or just a good marketing trick.

    This exchange allegedly gives traders a great variety of tools and empowers them to trade in their preferred markets. It is possible to make a deposit in fiat currency or in a cryptocurrency. This broker accepts EUR, USD, GBP, Bitcoin, Ethereum and Tether.

    Read the NovaTrades review in the article that follows.

  2. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    Your capital is at risk
  3. NovaTrades Special features

    NovaTrades prepared several account types. They range from small packages suitable for beginners, to exclusive accounts for most ambitious traders. Unfortunately, the broker is not stating publicly minimum deposit limits for each account. The minimum deposit is $250.

    Mini Account

    • For beginners
    • MT4 platform
    • Basic training
    • Personal account manager
    • Expert advisor
    • Fixed spreads
    • 24/5 customer support
    • Leverage 1:100
    • Hedging
    • Forex news
    • Access to resource centre
    • Access to knowledge centre

    Bronze Account

    MT4 platform

    • Standard training
    • Personal account manager
    • Expert advisor
    • Floating spreads
    • 24/5 customer support
    • Leverage 1:100
    • Hedging
    • Forex news
    • Access to resource centre
    • Access to knowledge centre
    • Webinars
    • Silver Account
    • Bestselling account
    • MT4 platform
    • Advanced training
    • Experienced consultant
    • Expert advisor
    • Floating spreads
    • 24/5 customer support
    • Leverage 1:200
    • Hedging
    • Access to forex news
    • Resource centre
    • Knowledge centre
    • Webinars
    • Daily market alerts
    • One-on-one training

    Gold account

    • For traders who want to use all features
    • MT4
    • Expert training
    • Personal trainer
    • Expert advisor
    • Floating spreads
    • 24/5 customer support
    • Leverage 1:200
    • Hedging
    • Access to forex news
    • Resource centre
    • Knowledge centre
    • Webinars
    • Daily market alerts
    • Customized bonus policy
    • Customized trading conditions

    NovaTrades Demo Account

    NovaTrades has a demo account that is a part of the MT4 platform. Traders who want to use the demo must register first. Upon registration you will be offered do download the MT4 demo. This means that Novatrades demo account is not available on the web trading platform. We tried clicking every feature available on the web interface, but none of it was related to putting virtual trades. Demo account comes equipped with 10,000 units of virtual money.

    The demo account is an amazing feature we always love to see with a broker. But in this case, it would be great if they added it to the web trader platform. Web trader platform is the most popular platform among beginners, so it makes sense to make the demo account accessible from there.

    NovaTrades Islamic Account

    NovaTrades also has a special account for traders who are Muslim. The Islamic account is relying on rules of Sharia law, and doesn’t have any swaps included. Islamic account also charges no commissions. It is interesting how NovaTrades doesn’t call this account type Islamic account, but a Swap-free account, so it can be possible for other traders to apply for it as well. It can be activated upon request, so make sure to contact customer support for more information.

  4. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  5. Become an IQ Option trader today

    Join IQ Option and become a trading master! IQ Option is a world-famous regulated broker that takes your trading to the next level. It allows you to trade forex, crypto, stocks, options and much more on its award-winning platform. The best part? You can start trading with a minimum deposit of ONLY $10! Read our IQ Option review.

  6. NovaTrades Trading software

    NovaTrades review showed how this broker offers MetaTrader4 platform that is the most popular choice among forex broker and traders. It is considered to be very user-friendly in all its variations. This platform is suitable for web trading, desktop trading, and mobile trading.

    Of course, if you want to use the desktop platform (which is most suitable for advanced traders) you will have to download it, while web trader can be used from the browser. We have to admit how the mobile app also has to be downloaded. Once you have registered with the broker, you will get the account number and a password. This information should be kept safe as it will be used for login.

    The overall user interface has a solid design, but it seems that the web trader can be accessed only after the deposit is made. During this review, and upon registration we were only allowed to access the desktop platform we downloaded on our PC. Somehow it looks like the web trader hasn’t been integrated on the same platform as a client portal where you can make deposits.

    NovaTrades Assets

    NovaTrades asset list seems to be quite short. We found only four forex pairs:

    • EURUSD
    • USDCHF
    • GBPUSD
    • USDJPY

    This is not enough for any trader to make a respectable and diversified trading portfolio. We hope they will add more assets in the future.

  7. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  8. NovaTrades Support information

    As it is possible to see in account descriptions, this broker is promising many interesting learning materials upon registration and depositing. However, traders who want to see what education with this broker looks like can also take a look at free materials available on the website. There is a solid education section equipped with articles on different topics. This will be most useful for traders who prefer to study alone and without assistance.

    NovaTrades review showed how there is no customer support via live chat. You can use an email ([email protected]) or phone (+442033937724) to contact the broker. Registered traders can also ask for a callback, but only after they log in and fill out the form on their profile.

    Adding live chat customer support would be a great move as traders would be able to get assistance and answers they need almost immediately. That way they would have more trust in the broker and would develop long-term relationships with their brokerage company.

  9. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  10. NovaTrades Payment Methods

    According to FAQ, with NovaTrades you can only deposit in GBP and EUR. The broker also claims to accept all major debit cards, and some e-wallets. This is interesting because, on their homepage, they are promoting depositing in cryptocurrencies and USD! Just to be sure, we decided to click the deposit account on our interface. We were offered only credit card deposits, and only two currencies mentioned in the FAQ section.

    The minimum deposit is 250 EUR, but for bank wire, it is 3,000 EUR. The minimum withdrawal for bank wire is also 3,000 EUR, but there are no other minimums mentioned. Accounts that haven’t been used in 6 months will be charged with a dormant fee of 10%. This broker also offers bonuses but doesn’t deliver any detailed terms and conditions or the bonus policy. Considering how bonuses can greatly affect your trading, we recommend you to decline it.

    Verdict: Is NovaTrades a Scam?

    We can’t claim that this broker is a scam, but we believe there are better brokers out there. This broker doesn’t offer transparent information on deposit limits and bonus policy, so it would be safer choice to trade with a regulated broker such as IQ Option.

  11. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
    • Award-winning trading platform
    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option

     

     

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  12. Your capital is at risk
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