Novatrades Review (2023)

Beware Novatrades is a Non-Regulated Broker. It is NOT SAFE to trade.

• Company name: 

Novatrades Ltd.

• Registration Address/ License:

Marshall Islands. No License, No Regulation. 

Novatrades is a brokerage company, financial service and trading provider that is registered in the Marshall Islands, delivers its numerous trading opportunities with a diversified portfolio including Forex, CFDs and Cryptocurrencies.

Being located in the famous offshore zone, the company, however, is not overseen by the industry authority, therefore maintains operation at their own standards. That fact may involve significant risk, as simply the potential investor will trust just in a word of mouth, not confirmed by any legitimate agency that oversees the business from outside. For that reason, the first and mandatory step while choosing the brokerage is to check their regulatory status and to be sure that the operation is supervised by the legal regulator with a purpose to deliver a safe trading environment.

There are many fraud and scam offering around the Forex business, while the industry regulators run the continuous monitor of the situation while trying to protect clients by educating them and listing the warnings against potential fraud. That was the case of Novatrades broker too, while the company was alerted by the UK’s FCA for the target of the residents without its legal permission to do so.

“We believe the Novatrades Ltd. With its registered address in Marshall Islands carrying on regulated activities which require authorization, yet have not been authorized by us. We strongly advise you to only deal with financial firms that are authorized by us, and check the Financial Services Register to ensure they are.”

FCA, UK. September 2018

Conclusion

For that reason and many additional ones, we always recommend to trade only with the reputable and Regulated Forex Brokers that follow strictest international rules and protecting client in case of any issues.