NovaTechFx Trading platform
NovatechFX advertises trading on the industry-leading MetaTrader5, but after registering an account, traders can only get access to a generic platform that isn’t actually provided nor related to any brokerage.
Why put your money at risk with NovatechFX when you can turn to a genuine and reliable broker who really offers access to MetaTrader5 (MT5).
MetaTrader 5 is a state-of-the-art, multi-functional platform that offers superior execution, a wide range of technical tools, advanced auto and copy trading systems. MT5 has more technical analysis indicators, more time-frames, more order types, and more instruments than its predecessor, the MT4. Nevertheless, the similar layout and features ensure a smooth transition from the previous version, which is being gradually phased out.
Meanwhile, the MT5 is being regularly updated – its developer MetaQuotes is not only making improvements and bug fixes but also introducing new features – one of the latest ones being access to real trading volumes when opening charts and the option to display zero values.
MetaQuotes has also introduced a feature that allows brokers who use the platform to make use of several servers around the world, enabling the launch of new access points in a couple of clicks straight via MetaTrader 5 Administrator, thus reducing the latency for their clients.
The terms described for a standard self-trading account are a spread starting at 1.6 pips for majors and a commission of 15 USD per lot. Such cost of trading is pretty high, as nowadays most brokers either offer a spread of 1.0 – 1.5 pips with no commission, or raw spreads with a small commission fee.
The broker offers access to a leverage of up to 1:100. Such levels aren’t too high, and yet most regulators nowadays don’t allow the provision of such amounts to retail clients.
Such leverage ratios may seem attractive because of the greater profit potential it offers. But bear in mind that higher leverage also creates a substantially higher risk exposure – if the market turns against you, you may lose all the money in your account in a matter of minutes.
That is why trading with leverage higher than 1:100 is recommended only for those who have some experience in the forex market. And these traders usually apply risk management strategies such as Stop Loss and Hedging.
Conclusion
NovaTechFX broker is said to offer ultra-low commissions and spreads while providing the best trading experience in the Forex and crypto markets. We have a couple of offices on the main page, yet no regulations.
Frequently Asked Questions
What is the novatechfx trading software?
The trading software of Novatechfx consists of MetaTrader 5 platform. This platform offers a lot of advantages to its traders as it comes equipped with an auto trading option, trading signals, code base with customs scripts, a financial calendar, an app market, etc.
What is the novatechfx minimum deposit and affiliate program?
NovaTechFX minimum deposit for the PAMM account is $99, while the Affiliate program is $49.99. Which Trading Platforms Are Supported By NovaTechFX Broker? Broker supports only one trading platform, and it’s MT5.
Is novatechfx legit or scam?
NovaTechFX is an offshore scam broker. The company does not have regulations, and the owner has a dark background in scamming people.
The only way to deposit money is via wire transfer or crypto transaction. Things are not great when it comes to the NovaTechFX trading experience.
Is novatechfx high leverage too high?
If you try to open a trading account with Novatechfx, you will find out that the leverage this broker offers is 1:100.
This leverage is high and your funds will have an exposure to risk if your transactions are unsuccessful as the high leverage amplifies the scope of financial loss.
How do I upgrade my Novatech account?
Active members may use funds in their Commission and ROI e-wallets to upgrade their trading accounts by following the steps below. Select eWallet as payment method.