Novelis Capital Forex Broker

Note: Novelis Capital's official website - https://novelis.capital/ is currently inaccessible normally. Novelis Capital Review SummaryFounded/Registered Country/RegionSt. Vincent and the GrenadinesRegulationNo regulationMarket Instruments2,000+, forex, stocks, cryptocurrencies, indices and commoditiesDemo Account/EUR/USD SpreadFrom 3 pipsLeverageUp to 1:100Trading PlatformWeb-based platformMin Deposit$250Customer SupportContact formEmail: support@novelis.capitalRegistered Office: Suite 305, Griffith Corporate Centre, Kingstown P.O. Box 1510 St. Vincent and the GrenadinesNovelis Capital Information Novelis Capital is a newly-established brokerage company and currently does not maintain functional website that we can only get limited information about this company on the Internet. The broker offers trading services for forex, commodities, cryptos, indices and stocks, with a moderate minimum deposit of $250. Spread for EUR/USD is wide from 3 pips, which normally increase trading costs. What's worse, the broker currently operates without any valid regulation, implying possible less compliance to industry and customer protection. Usually we don't recommend you to trade with such unrealiable broker.Pros and ConsPros Cons Diverse tradable assetsNew to the marketMultiple account typesInaccessible websitePopular payment optionsNo regulationWide spreadsNo MT4/5High minimum depositHigh threshold for the bonus programIs Novelis Capital Legit? Regulation is a crucial aspect of evaluating the legitimacy and reliability of a brokerage firm, and in the case of Novelis Capital, the broker operates without any valid regulatory oversight. The absence of a regulatory framework raises huge concerns regarding the broker's adherence to industry standards, financial transparency, and the protection of client interests.What Can I Trade on Novelis Capital? Novelis Capital claims to offer more than 2,000 market instruments for clients to choose from.Tradable Instruments Supported Forex✔Commodities✔Indices✔Stocks✔Cryptocurrencies✔Bonds❌Options❌ETFs❌Account Type/Fees Novelis Capital claims to offer four types of trading accounts - Silver, Gold, Pro and VIP, with minimum initial deposit requirements of $250, $1,000, $5,000 and $10,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.Account TypeMin DepositSilver$250Gold$1,000Pro$5,000VIP$10,000 Spread for the major EUR/USD is wide from 3 pips, which increases trading costs. While information for trading commissions is absent so far, necessitating direct clarification with the broker directly when conduct trading activities.Leverage Novelis Capital offers varying leverage levels for different accounts:Account TypeMax Leverage Silver 1:20Gold 1:50Pro1:80VIP1:100 We always suggest you to use leverage prudently due to significantly amplified losses at the same time as gains.Trading Platform The platform available for trading at Novelis Capital is web-based with the simplistic interface and functions.Trading PlatformSupported Available Devices Suitable for Web-based✔//MT4❌/BeginnersMT5❌Windows, Android, WebTrader, iOSExperienced tradersDeposit and Withdrawal Novelis Capitals used to indicate on its website that it accepts numerous methods of payments: Visa, WireTransfer, Piastrix, Verified by Visa, Maestro, MasterCard and MasterCard SecureCode.Promotions Novelis Capital claims to offer bonus programs, however, you can only withdraw the bonuses after executing a minimum trading volume of 25 times the deposit amount plus the bonus issued.