Novatech FX is a pyramid scheme that depends on new members to fund its business, and will eventually run out of victims and collapse. If you act quickly enough though, withdrawal of your funds should still be possible.
This website hosts a trading platform offering pooled investment accounts. Investors can log on and monitor their purported balance and returns; its claims of up to 365 percent returns is highly suspicious.
It offers Forex and crypto trading platforms
NovatechFX provides traders with deep liquidity through its vast pool of assets. Furthermore, its affiliate program allows users to earn commissions off their referral’s earnings.
NovatechFX allows investors to optimize their investments and increase profits, as well as providing educational materials and trading signals that enable informed decision-making. Furthermore, its commitment to security and customer protection sets them apart from their competitors.
Novatech FX claims it offers legitimate Forex and crypto trading platforms; however, they have never registered with the Securities and Exchange Commission, use multiple addresses at once, or are nonexistent altogether – two red flags investors should take note of when considering investing with Novatech; however this doesn’t automatically equate to scamming; simply be wary before making your decision based on this company alone – Warren Buffett and Peter Lynch are investors not traders!
It offers a 365 percent return on investment
Novatech FX is an unconventional Forex and crypto trading platform, which utilizes pooled investment funds. They claim that their returns outstrip those offered by Warren Buffet and Peter Lynch; however, such claims appear highly suspicious, suggesting they could be involved with some type of Ponzi scheme.
These schemes generally operate by offering easy and guaranteed profits to attract new members, yet successful trading requires knowledge, skills, and an approach that’s disciplined – thus it’s essential that one fully research any trading platform prior to investing.
Novatech FX appears to offer an inexplicably high return of 365 percent on investments, suggesting it may be a Ponzi scheme. Operating out of Saint Vincent and Granada which are offshore nations with little regulation oversight; their compensation plan features multiple levels of payouts which indicate multilevel marketing (MLM). They use dishonest marketing practices in order to draw investors in.
It is registered in Saint Vincent and the Grenadines
Novatech FX, registered in Saint Vincent and the Grenadines as a Business Company with registration number 25614 BC 2019, claims to offer traders access to an array of financial instruments as well as provide support service.
Although Novatech Crypto claims not to be a Ponzi scheme, its registration in Saint Vincent and the Grenadines raises red flags. Furthermore, its compensation plan pays multiple levels deep; suggesting an MLM component; its claims of 365 percent returns are dubious; additionally its founders Cynthia and Eddy Petion have an established track record in scamming people.
Better Business Bureau complaints against them also serve as a red flag, while their Memphis store started selling Panasonic office products long before cryptocurrency and online trading platforms gained prominence. Pyramid or Ponzi schemes depend on new victims joining, so when these supply dries up, their scheme falls apart and collapses.
It offers a simple sign-up process
Novatech FX is a Forex and crypto trading platform that emphasizes pooled investment funds. However, its website contains numerous signs that suggest it might be an illegal pyramid scheme; such as no evidence of actual trading activity and its dependence on new members’ investments – something which raises suspicion because this implies newcomers are paying for payouts to older members.
This company claims to be legitimate business; however, their registration in Saint Vincent and the Grenadines and compensation plan that pays members at multiple levels indicate otherwise. Furthermore, their quoted returns of over 300 percent per year appear suspiciously high.
Sign-up is quick and straightforward with only necessary data required: User information (username and password), an eWallet PIN (4 digit passcode with secret question/answer pair), Residential Address, Referring Customer ID number (174486) as well as your referrer customer number (174486). Once created, once your account is set up you can fund it using any eligible cryptocurrency.