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Is novatech fx legit?
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.
FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.
The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.