NovaTrade Forex Broker

NovaTradeReview SummaryFounded2023-11-24Registered Country/RegionVietnamRegulationUnregulatedMarket InstrumentsDigital money/Indices/Agriculture/Livestock/Currency pairs/Precious metalsDemo Account/LeverageUp to 1:500SpreadFrom 0.2 PipsTrading PlatformNovatrade Webtrader(Web)Min Deposit$250Customer SupportPhone: +033 7236 2732 777Email: support@novatrade.ioNovaTrade Information NovaTrade is a broker. The tradable instruments include digital money, indices, agriculture, livestock, currency pairs, and precious metals. The broker also provides three accounts with a maximum leverage of 1:500. The minimum spread is 0.2 Pips, and the minimum deposit is $250. NovaTrade is still risky due to its unregulated status.Pros and ConsPros Cons Leverage up to 1:500Unregulated24/5 customer supportMT4/MT5 unavailableVarious tradable instrumentsInaccessible official websiteSpread from 0.2 PipsUnspecific transfer time and fee informationIs NovaTrade Legit? NovaTrade is not regulated, making it less safe than regulated brokers.What Can I Trade on NovaTrade? NovaTrade offers a wide range of market instruments, including digital money, indices, agriculture, livestock, currency pairs, and precious metals.Tradable Instruments Supported Digital money✔indices✔Agriculture✔Livestock✔Currency pairs✔Precious Metals✔Forex❌Commodities❌Shares❌ETFs❌Bonds❌Mutual Funds❌Account Type NovaTrade has three account types: beginner, classic, and pro. Traders who want low spreads can choose a beginner account, and those who want low leverage can choose a pro account.Account Type BeginnerClassicProMinimum Deposit$250$2500$25000SpreadsFrom 0.2 PipsFrom 1.0 PipsFrom 1.0 PipsLeverage1:400 or 1:5001:2001:100CommissionUSD 50 per 100000USD 25 per 1000000NovaTrade Fees The spread is from 0.2 Pips, the commission is from 0. The lower the spread, the faster the liquidity.Leverage The maximum leverage is 1:500 meaning that profits and losses are magnified 500 times.Trading Platform NovaTrade provides a dedicated NovaTrade Webtrader trading platform available on the web instead of the authoritative MT4/MT5 with mature analysis tools and EA intelligent systems.Trading PlatformSupported Available Devices Novatrade Webtrader✔WebDeposit and Withdrawal The minimum deposit is $250. NovaTrade accepts Visa, Mastercard, Neteller, and Skrill for deposit and withdrawal. However, the official website is inaccessible, so transfer processing times and associated fees are unknown.