Score
NOVOX
Cyprus|2-5 years| https://www.novoxfx.eu/
Website
Rating Index
Contact
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
Cyprus
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Website
novoxfx.eu
Server Location
China
Website Domain Name
novoxfx.eu
Server IP
47.57.30.196
Genealogy
VIP is not activated.Company Summary
General Information & Regulation
Novox was founded in 2014, a provider of contracts for difference (CFDs), delivering trading facilities on forex, commodities, futures,etc. Novox is operated by Novox Capital Ltd – registered in Cyprus and regulated by the CySEC (registration number 224/14). The CySEC website indicates that the regulation is for the Novox Capital LTD and the website of Novox itself is not listed as one of the approved domains. In addition to this, Novox Capital Ltd does not have a very clear history and it is worth checking before any trader decided to open an account with Novox.
Market Instruments
Novox offers investor trading instruments including forex, commodities, futures, cryptocurrencies, indices and shares.
Minimum Deposit
There are four account options on offer at Novox, namely Standard (deposit from $200), Xero (deposit from $25000 or equivalent), and Premium accounts (deposit from $50,000 or equivalent). The minimum deposit to open an account seems affordable for most regular investors, while deposit for the Xero and Premium is incredibly high.
Leverage
The leverage that the Novox offers to the customers is the same for all account types on FX, up to 1:30 and on CFDs up to 1:20. This is quite consistent with the European regulation.
Spreads & Commission
The minimum spread starts from 2.4 pips, 0.0 pips and 0.0 pips in standard, Xero and Premium accounts, respectively. The standard account with wide spreads requires no commissions, and the Xero and the premium accounts requires a commission of $5.5 and $4 respectively.
Trading Platforms
Novox provides traders with the MT4 trading platforms. MT4 trading platform is packed with advanced trading tools and offers straightforward access to even the most dynamic financial markets. MT4 trading platform is available as desktop applications for Windows and Mac computers, WebTrader, and mobile apps that are compatible with Android and iOS devices.
Deposits & Withdrawals
NOVOX seems to have accepted a few payments methods for traders to fund their accounts, such as COINPAY, U-PAYMENT, UnionPay, Visa, MasterCard, Skrill, Neteller, POLi, Bitwallet, NLV and bank wire. The minimum amount of money that can be cashed out is 50 USD and as the broker claims the processing time is 1-2 days which does not sound very well. The broker also states there are no fees for the withdrawal but comments that the corresponding fees will be deducted from the traders withdrawal funds.
Accepted Countries
NOVOX brand does not provide services to residents of the USA, Yemen, Syria, North Korea, Puerto Rico.
Customer support
NOVOX provides traders with a customer support team who can be contacted via any of the following contact channels: telephone, email, Live Chat, and social media.
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- Cyprus Market Making(MM) Revoked
- United Kingdom European Authorized Representative (EEA) Revoked
- High potential risk
Review 18
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wsndxxy
Hong Kong
NOVOX closed my account and do not withdraw funds on the grounds of illegal transactions, only because my account was profitable, and the profit part was not allowed to be withdrawn, only the principal part was given. it has been two months since the account was banned in september. my account number is 620359, and the balance is 18522.90 usd. i want to unblock the account immediately and withdraw the full amount!
Exposure
2022-11-27
Fx3578064
Australia
Assetsclaimback Investigation of Potential Class Action Against Online Trading Platform Providers Novox claims to be number one it’s all fraud they stop investors from withdrawal and this firm change name from RUI WIN CAPITAL please be careful
Exposure
2022-11-13
FX48843006
United States
it took long to be able to withdraw but without Novox it’s a scam i lost $45,000 it’s sad this scammers never stop, they have scammed a lot of people
Exposure
2022-11-11
王哥67
Hong Kong
My account is 600889. After three years of operation, I earned more than 160,000 us dollars. My earning was illegally erased by fraud platform novox. I strongly expose this fraud platform and return my hard-earned money.
Exposure
2022-11-09
王哥67
Hong Kong
Their platform hacked more than $160,000 of my hard-earned money and strongly exposed their illegal behavior.
Exposure
2022-11-09
Quyen Huynh
Vietnam
There is some money in my account but I can't withdraw
Exposure
2020-11-10
美好明天
Hong Kong
Unable to withdraw. Ask for my principal of $20,000
Exposure
2020-11-09
FX3421266165
Japan
I depend on the withdrawals but I haven't received the money for two months. They didn't answer me.
Exposure
2020-11-04
张春景
Hong Kong
My application was approved on September 8, but I haven't received any notifications. No one replied to my email. The customer service kept shrinking. NOVOX said my withdrawal bank account had some problems so the money was bak to the MT4 account. (Actually, I didn't receive any information) They emailed me on October 12 and told me that there was no problem with my withdrawal application. Because the festival affects the speed of the withdrawal so I have to wait patiently. On October 19, the customer service said there was no problem with my account balance. However, I log in on October 22, there was unprofitable trade from October 14 to October 19, until I didn't have enpugh account balance.
Exposure
2020-11-02
开心55
Hong Kong
Unable to withdraw all the time. The customer service didn't reply. What am I supposed to do? Pending...
Exposure
2020-10-30
天天被割韭菜
Hong Kong
I opened an account and deposited in May. Later, I applied for withdrawal but the balance can’t be deducted. It has been three months now. I contacted the customer service but she can’t help me solve this problem. Besides, no one replies to my emails.
Exposure
2020-10-30
张春景
Hong Kong
The withdrawal on September 8 hasn’t been to my bank account yet. Now my account is closed and I can’t log in. No one replies to me after I emailed them.
Exposure
2020-10-20
养乐多27842
Hong Kong
Apply for withdrawal on September 1. The application was approved on September 8. It has been nearly two months till now and I still don’t receive it. Now my account of NOVOX is closed.
Exposure
2020-10-20
张春景
Hong Kong
I withdrew on August 24 and on September 8 it showed the audit was done. Buy the withdrawal hasn't been to my bank account yet. No one replied to my emails.
Exposure
2020-10-19
Hoai Nguyen
Japan
An order cannot be opened, closed or modified. No notification to the customer. This is my second time.
Exposure
2020-10-05
王冰62232
Hong Kong
My application for withdrawal on September 19 hasn’t been approved. Is it going to abscond?
Exposure
2020-09-29
FX1355090736
Egypt
Peace, mercy and blessings of God
Positive
2022-11-12
FX1355090736
Egypt
Hello
Positive
2022-11-12