Novatech is a foreign exchange and crypto trading platform specializing in pooled investment funds, including their P.A.M.M account which is overseen by expert traders.
Novatech claims not to be an MLM or pyramid scheme, yet there are certain warning signs. First and foremost, their return projections appear implausible.
What is novatech crypto?
Novatech Crypto is a forex and cryptocurrency trading platform designed to make trading simpler, making money possible for traders of all experience levels. This platform features margin trading, short selling, reinvestment of profits to further boost returns over time, referral programs for additional income generation.
Novatech FX raises several legitimate concerns. First and foremost is its lack of proper registration; reports allege its founders to have been involved in scams. Furthermore, users have reported having difficulty withdrawing funds from their accounts – a sure sign of Ponzi schemes – while its IP address has been linked with other suspicious firms which suggests its potential being used as a pyramid scheme or pyramid scam. Finally, Novatech FX website employs IPs associated with other similar firms which raise suspicion that it might be one. Alternatively, fake Better Business Bureau files could attract investors – an accusation which raises suspicion that is using fake Better Business Bureau files in order to lure in investors.
Is novatech crypto a scam?
Novatech FX is a foreign currency exchange and crypto trading platform specializing in pooled investment funds. According to their claims, they employ expert traders with salaries while offering them access to an investment platform which produces returns five – eight times greater than even the world’s leading investors.
However, there remain questions surrounding the company’s legitimacy. Notably, they do not register with the Securities and Exchange Commission and their headquarters are on an island in the Caribbean Sea – both factors which raise questions as to their actual location and tax status.
Concerns exist with this company because its founder has previously been associated with Ponzi schemes. Ponzi schemes are illegal, and often collapse when new members stop paying into them. Furthermore, some promotional materials for the company make false or misleading claims regarding trading performance – these should be ignored to protect your investment portfolio and stay away from these platforms altogether. Therefore it’s wise to be wary when investing in Forex and cryptocurrency trading platforms.
Is novatech crypto legit?
Novatech is an illegal Ponzi scheme that will collapse when no new victims sign on. While they claim to be offering Forex and crypto trading platforms, their legitimacy remains questionable due to no regulatory oversight and no proof of earnings provided.
Allegations against the company center on allegations that it operates like a pyramid scheme, with members who recruit new members receiving commissions and bonuses up to nine levels deep into their downline, which could amount to thousands in income for higher-ranking members.
Novatech FX does not possess a business registration in Canada, which raises concerns that it is unregulated by Canadian authorities and may cause regulatory issues elsewhere. Furthermore, their true location has yet to be revealed which could create potential regulatory issues in other countries – something any investor should be wary of when making investments. This should serve as a warning signal.
Is novatech crypto a ponzi scheme?
Novatech FX exhibits several telltale signs that suggest it may be a Ponzi scheme, such as offering no trading activities and solely relying on recruitment bonuses for revenue generation. Furthermore, it remains unknown how many members actually trade on the platform since videos showing members using MT5 software tend to get far fewer views compared to videos about recruiting new members or building downlines.
Novatech FX platform’s address has become associated with several other investment firms and scam warnings, and doesn’t appear to be regulated by any authority; indeed, its senior members have a history of fraud connected to other alleged Ponzi schemes. Therefore, it would be prudent for you to invest your money elsewhere and use VPN such as PureVPN when trading.
