Novatech FX is an international Forex and Crypto trading platform focused on pooled investment funds that was launched in June 2019.
They charge a $25 monthly service fee for their investment opportunity, but also offer referral bonuses and commissions as well as taking a 30% performance fee on any trading profits generated from it.
It is a crypto trading platform
Novatech FX offers a free trial account that enables anyone interested in trading and making money online to test out the platform without investing any funds. However, some red flags should be considered before investing with Novatechfx; among them is its founder’s involvement with AWS Mining which may or may not constitute an alleged Ponzi scheme (but does raise some suspicion).
Novatech Trading’s unregulated status raises another set of issues; clients who experience disputes with them cannot hold them responsible if a dispute arises in regards to cryptocurrency investments. Furthermore, an annual membership fee of $25 must be paid if you wish to remain at Gold Package level or higher; this does not cover referral bonuses and commissions distributed nine levels deep in their downline.
It is a pyramid scheme
A pyramid scheme is an illegal investment scheme where profits are gained by recruiting new members into it, usually via social media, internet advertising, group presentations, conference calls or YouTube videos. Recruitment emphasis is one of the key indicators of whether it constitutes a pyramid scheme. All pyramid schemes eventually collapse with investors losing most of their money.
Novatech FX may or may not be a Ponzi scheme, but their extraordinary annual return claim of 365 percent certainly raises suspicions. Such returns would exceed most countries’ annual returns and cannot be justified without actual trading activities being performed.
Novatech FX operates out of Saint Vincent and Granada, an island nation with limited regulations governing financial activity. As a result, its base raises risks of fraudulent activity; many members have experienced difficulties withdrawing funds.
It is a scam
Novatech crypto is an illegal pyramid scheme which promises high returns for investors, yet remains unregistered with the SEC and without other proof of business operations. Their revenue source relies heavily on recruiting new members rather than selling products or services, which makes this business model illegal and constitutes a scam.
As it’s not impossible to make money with a reputable broker, but research should always be performed thoroughly before selecting one. Furthermore, avoid brokers that don’t abide by regulations strictly such as NovatechFX which has received many complaints from traders concerning withheld withdrawals and manipulation practices.
The company website is difficult to use and contains information that’s hard to comprehend, plus no contact details or phone numbers for support. Furthermore, reports indicate the business is running low on funds and could collapse at any moment; as a result it is essential that investors take appropriate precautions in order to safeguard their investments.
It is easy to use
Novatech is a cryptocurrency trading company that has successfully capitalized on the cryptocurrency boom. They provide various ways for users to make money, including fast-track bonuses, rank achievements and earning a percentage of team profits – bonuses which can amount to thousands in revenue; higher rankings mean greater earnings potential.
Mining cryptocurrency is one of the best ways to make money in this market, using computer hardware to verify transactions on blockchain networks and receive cryptocurrency rewards as compensation – often increasing in value over time.
As cryptocurrency trading is unregulated, and fraudulent traders may use false accounts and earnings to cheat the market, it’s crucial that investors select a reliable broker.