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NovaTech

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Broker violations and abnormal records
  • 2022-10-10 The British Columbia BCSC Added NovaTech into Its Warnings

    On 11 Oct 2022, the British Columbia Securities Commission (BCSC) issued a warning that NovaTech was not registered to trade in, or advise on, securities or derivatives in BC. You may visit: https://www.bcsc.bc.ca/enforcement/early-intervention/investment-caution-list/2022/novatech-ltd

    On 11 Oct 2022, the British Columbia Securities Commission (BCSC) issued a warning that NovaTech was not registered to trade in, or advise on, securities or derivatives in BC. You may visit: https://www.bcsc.bc.ca/enforcement/early-intervention/investment-caution-list/2022/novatech-ltd
  • 2022-10-11 BrokersView has Reviewed that NovaTech is an Unregulated Forex Broker

    NovaTech claims to be registered in Saint Vincent and the Grenadines with registration number 25614 BC 2019. We searched Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and found a company named Nova Tech Ltd. However, SVG FSA is not a forex regulator. It does not regulate forex brokers or issue forex licenses. Having registration or not, therefore, does not mean being authorized to provide financial services.

    Moreoover, the British Columbia Securities Commission (BCSC) issued a warning that NovaTech was not registered to trade in, or advise on, securities or derivatives in BC. 

    The truth is that NovaTech is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, NovaTech is a scam.

    NovaTech claims to be registered in Saint Vincent and the Grenadines with registration number 25614 BC 2019. We searched Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and found a company named Nova Tech Ltd. However, SVG FSA is not a forex regulator. It does not regulate forex brokers or issue forex licenses. Having registration or not, therefore, does not mean being authorized to provide financial services.Moreoover, the British Columbia Securities Commission (BCSC) issued a warning that NovaTech was not registered to trade in, or advise on, securities or derivatives in BC. The truth is that NovaTech is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, NovaTech is a scam.
  • 2022-12-12 The Ontario OSC Added NovaTech into Its Warnings

    On 13 Dec 2022, the Ontario Securities Commission (OSC) issued a warning that NovaTech was not registered in Ontario to engage in the business of trading in securities. You may visit: https://www.osc.ca/en/investors/warnings/novatech-ltd

    On 13 Dec 2022, the Ontario Securities Commission (OSC) issued a warning that NovaTech was not registered in Ontario to engage in the business of trading in securities. You may visit: https://www.osc.ca/en/investors/warnings/novatech-ltd
  • 2023-07-12 BrokersView has revealed that Novatech is using a new domain

    As the old domain novatechfx.com turned nonfunctional, Novatech has introduced a new domain novatechfx.uk.com to solicit investors. Please beware of the risks involved and avoid this scam broker.

    As the old domain novatechfx.com turned nonfunctional, Novatech has introduced a new domain novatechfx.uk.com to solicit investors. Please beware of the risks involved and avoid this scam broker.

Related Complaints

Q&A Complaints

Is novatech fx legit?

Jennifer
Hongkong SAR
2023-07-24
ANSWER The broker you inquired about, NovaTech, is definitely a scam.NovaTech used to operate at novatechfx.com but is now soliciting investors on its new domain, novatechfx.uk.com. On its website, NovaTech claims to be operated by Novatech Ltd, a company registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under registration number 25614 BC 2019. However, we searched the SVG FSA register, and neither the company name nor the number could be located. This means the claim is false. Furthermore, the offshore financial watchdog has explicitly stated that forex trading brokerage activities are not licensed in St. Vincent and the Grenadines. Even if NovaTech's registration with the SVG FSA were true, it still lacks the license from this jurisdiction.More importantly, NovaTech has been warned by two recognized financial regulators — the British Columbia Securities Commission (BCSC) and the Ontario Securities Commission (OSC) — for engaging in illegal operations. You can find more information in the BCSC warning and the OSC warning.Given its regulatory status and the warnings issued, NovaTech is not legitimate. It is a fraudulent platform that comes with significant risks, including financial losses and identity theft. Without regulatory oversight, investors dealing with NovaTech are exposed to potential fraud or theft. Therefore, we strongly suggest investors stay away from NovaTech and instead opt for a fully regulated platform.
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5 comments

Fadi Neophytou
Yes It is Scam Platform I confirm their Customer repeat the Lines . if User Earn profit they declare trade as null and void without Giving any proofs and reasons I have Given clear proofs to novatech still they are not listening
2023-08-22
3
Reply
Usman Jessen
WARNING NOVA TECH ARE SCAMMERS!WARNING TO ALL TRADERS! DO NOT DEPOSIT YOUR MONEY WITH NOVA TECH BROKER! DEPOSIT AT YOUR OWN RISK!Please believe me as i do not want you falling in the same trap and losing your money. These guys are offshore unregulated professional scammers, do not believe the certificates posted on their professionally set website. They will lure you in with swap free accounts etc. Do your own research with these "Regulated Authorities" and enquire about NOVA TECH. NOVA TECH will Reply to your emails and chat to you at first and are very active. Once you make a big deposit kiss your money goodbye you will not get it back as they will not allow you to withdraw your funds and never reply to you via email, chat to you or either receive nor call you. Its been well over a month now requesting withdrawal and they decline my request saying that my method i deposited (paypal) is under maintenance and on going excuses to the point they no longer reply to me anymore and having to now lost $6,000 with them as it is sitting in my landing account that i can't get out. Do not believe any good reviews you find on this broker as they are parties within their company. I will keep you posted if anything happens and they somehow decide to Return my money.
2023-08-22
1
Reply
Faheem suno
Novatech took $5,230 from me, stay away from this scammer!
2022-08-21
1
Reply
Panagiotis Gray
Refuses to give any kind of monthly or yearly statement of trades. Withdrawals take more than 20 business days from trading account. Unbelievably poor service from a broker that is supposedly so large. There is a massive likelihood that this broker is scamming people.
2023-08-22
Reply
James Zinonos
Based on my personal experience, I strongly advise against engaging with Novatech. After depositing funds into my account, I encountered significant difficulties when attempting to make withdrawals. Moreover, I began receiving unsolicited calls and spam messages via Viber and WhatsApp, indicating that my contact information had been sold to third parties. In order to withdraw funds, they insisted on obtaining my identification, but I hesitated to provide them with such sensitive documents due to concerns about potential misuse of customer data.
2022-08-21
Reply
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