NovaTech Ltd Review
NovaTech Ltd is a scam platform that promises its clients a seamless trading experience. The company is shady with multiple red flags like lack of a license and anonymity. Invest with the best crypto trading websites.
NovaTech is a company that provides a crypto and forex trading platform to investors. The company believes they have the best platform in the market. This is despite the company being around for a little over a year.
The company promises clients ultra-low commissions and the best PIP Spreads. However, all this does not matter if the company cannot provide a safe trading environment. There are several aspects you have to look at to determine the legitimacy of a company.
For starters, ensure you are investing with people with verifiable identities. That is the best way to avoid investing with people with criminal backgrounds. Additionally, ensure you are investing in a company that meets regulatory requirements.
You need to be vigilant in the trading space. We see the rise of new fraudulent companies each day. They come in the market promising things they cannot deliver. Such companies are only in it for the money.
Fortunately, there are legitimate cryptocurrency trading brokers in the market. Ensure you only invest with such companies. They will help you secure and grow your funds.
Novatech is a well-built website with a nice aesthetic. You might think that the people behind the platform are professionals. However, there are other features that make us doubt this proposition.
The website states that you do not need prior experience to use the platform. However, any seasoned trader will tell you differently. Trading platforms can be overwhelming to first time traders. Therefore, it is important to get clients oriented to a platform.
Sadly, the company only avails educational material to people who invest. This means that you have to invest some money with the company no matter your trading experience. This shows a lack of interest in customer satisfaction. You should never invest in a company that does not care about your well-being.
Other than trading, the company has an affiliate program. This gives clients an extra way to earn some income. You need a sponsor to join this affiliate program. In case you don’t have a sponsor, the company randomly assigns one to you.
The company offers referral bonuses for every client you refer. However, novatechfx.com does not go into detail about the amount of revenue you receive. Nonetheless, they list a number of items that you can win in the referral program.
The referral program has seven levels. Each level comes with extra perks. However, the company does not state the requirements you have to meet to level up. There is a lot of missing gaps in the company’s referral program.
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There are six different investment packages on the NovaTech platform. These include the Builder Package, the Bronze Package, the Silver Package, the Gold Package, the Platinum Package, and the VIP package. The packages differ depending on the amount of money you invest.
The minimum investment for these packages are $99, $500, $2,500, $5,000, $10,000, and $25,000 respectively. All the packages have a $25 monthly service fee except the VIP package. Additionally, the accounts include fully serviced PAMM accounts.
A PAMM account is a unique product that allows traders to earn without having to trade. You can invest your funds and leave the trading to experienced traders. The company promises to provide the most experienced account managers.
However, the company does not introduce the traders to the public. It is impossible to tell the kind of trading experience that these people have. You should only leave your trading in the hands of experienced account managers. If you cannot verify this to be the case, then do not invest your money.
NovaTech Ltd Founders and Physical Location
It is very important to know the people you are investing in. This will give you some insight into what to expect from the company. NovaTech provides the names of the team members to ensure transparency.
However, there is nothing exciting about this. The company’s CEO is Rev. Cynthia Petion. On the other hand, the COO of the company is Eddy Petion. These two were involved in a very suspect company. They were the top officials behind the company AWS Mining.
In 2018, the Texas State Securities Board issued a cease-and-desist against the company. These are shady individuals that do not deserve your trust. They have already scammed enough people online. Do not become their next victim.
Even worse, the company operates from a very shady jurisdiction. The company claims to operate from Saint Vincent and the Grenadines. This jurisdiction does not have a reliable regulatory body. Anyone can register a company without ever stepping foot in the region. Consequently, it is a paradise for fraudulent companies.
Regulation and Fund Safety
The biggest red flag about this company is its regulatory status. The company has no regulation from a reputable body. Regulatory bodies keep companies in check to ensure they are not running criminal operations. Therefore, a company without regulation can do anything it wants to.
Furthermore, regulatory bodies ensure that companies have the right banking set up. This ensures that the company can offer funds’ safety to its clients. Without regulation, a company cannot assure you of your funds’ safety.
Moreover, there is no evidence of systems’ protection on novatechfx.com. The company does not present any SSL certification to prove its systems are secure. This means that hackers can easily access and steal your funds. This is a huge red flag.
Further, hackers can steal your personally identifiable data. There is just too much to lose with this company. Do not give them your money if you want peace of mind.
The official domain for this company is novatechfx.com. The founders registered the domain on the 17th of June 2019. They later updated the registration on the 16th of June 2020. The expiry date now stands at the 17th of June 2021.
It is fascinating to know that the company only takes out one year registrations. It means that they have no intention of sticking around for long. They may take off with investors’ funds after this period is over. Only invest in companies committed to providing services for a long time.
Moreover, Whois records reveal the registrant’s location as the United States. This contradicts the information they provide on their website. The probability is very high that the founders have never set foot in Saint Vincent and the Grenadines. The country allows people to register businesses over the internet without much hassle.
Novatech is not a trustworthy company. There are too many red flags involved with this company. For starters, the founders have a shady history. This is always a red flag. You should run whenever you see something like this.
Additionally, the company does not have regulatory requirements. Therefore, it cannot assure you of your funds’ safety. The founders registered the company in a very shady jurisdiction. They did this to ensure they do not have to meet regulatory requirements.
There are too many fraudulent companies in the trading space. Their only interest is to swindle off their customers. Luckily, there are many legitimate cryptocurrency companies that you can trust. Such companies provide a safe and transparent trading environment.