NovatechFX Review

NovatechFX Review – How To Get Your Money Back

Dealing with online trading brokers from offshore countries is never an easy task. In case you are scammed, there’s no regulatory, and it’s hard to file a lawsuit against an offshore entity. That’s why we want to show you everything we know about the NovatechFX broker and to explain to you in detail how to get your money back.

NovatechFX Details

NovatechFX is an online trading brokerage owned by NovaTech LTD, NovaTech Advisors LLC, NovaTrading OÜ from Saint Vincent and the Grenadines. Saint Vincent and the Grenadines do not have a financial regulator in the true meaning. Instead, an FSA organization is signing up financial institutions and redirecting them to opt for the regulation in countries of service. NovatechFX is nowhere to be found in the FSA register as well as Tier1 registers such as the FCA, ASIC, or BaFin.

Their website is novatechfx.com, while a contact phone number is not listed. There’s an official email address  support@novatechfx.com Therefore, we can conclude it’s yet another unregulated scheme going after your money.

Traders Opinion

As you can already imagine, especially if you yourself have been involved with NovatechFX broker, traders do not have such a positive opinion. According to NovatechFX reviews, there are many complaints about withdrawals, lousy trading platforms with too high leverage of up to 1:100. More than anything else, clients are complaining about account managers who are too pushy and trying to extort as much money as possible. Once you reject to invest further and submit a withdrawal request, expect your account to be blocked.

Is NovatechFX Legit Or a Scam?

As mentioned, Saint Vincent and the Grenadines don’t have a financial regulator. That’s why a lot of newly established brokers are choosing this particular offshore country. However, FSA is there to register financial service providers and redirect them to appropriate regulators. After a thorough check of the FSA register, we haven’t find NovatechFX broker or NovatechFX Ltd anywhere.

Of course, other financial registers have the same result – NovatechFX doesn’t exist.

Beware of offshore scams and do not invest your money with such.

How Online Trading Scams Work?

Online trading scams usually start with an overpromising advertisement showing the life you could have if you started investing. Combined with other news you hear every day, such as Bitcoin price or the price of Tesla shares, you start believing that your dreams are just around the corner. Unfortunately, many companies that advertise themselves are nothing but bogus operations, such as NovatechFX, established with an utmost goal of taking as much money as possible and disappearing. It’s not uncommon for these companies to suddenly close their website or relocate to another offshore country. Some of them keep existing with another domain, pretending to be not related to a similar-named scam.

Once you fall for the story and invest your money, you will be assigned with an account manager. He will do anything in his power to help you make money. Of course, that money will be only virtual and only on your screen. You will be persuaded to invest more because there’s always a better market opportunity.

Suppose you decide you cannot afford further investment and want your funds back. You will discover that your account manager is no longer available and your account is no longer accessible.

It’s a common scam offshore brokers are conducting. Report anything suspicious and never let scammers run with your funds!

Got Scammed by NovatechFX?

There’s a chance you have been scammed by NovatechFX or any other illicit brokerage. Yes, it happens, and it’s not the end. There’s always a solution! You need to file a dispute and request a chargeback.

A chargeback is a way for your bank to reverse the transaction if you can prove you have been a victim of an online scam. Since NovatechFX is offshore, such a process requires knowing international processors and international banks. For assistance with this matter, contact professionals.

With years of experience, we’re here to assist you and help you get a positive dispute resolution. Don’t hesitate, get in touch now and let’s get back to what’s rightfully yours!