If you’re thinking of getting started in the cryptocurrency trading industry, but haven’t yet found the right broker, you can open an account with Novatechfx. This offshore broker allows you to transfer money from your bank account or credit card to a cryptocurrency exchange, making it easy to start trading without a large initial capital. Novatechfx is not a scam, and its website is curated for all levels of traders. There is less regulation with a cryptocurrency exchange than with a fiat currency exchange, so its exchange rates are much better than with a traditional bank.
NovatechFX’s pay structure is similar to that of the Binary Team. It uses two-step recruitment, and pays commissions on the lower team leg. In this case, affiliates personally recruit members, and their referrals fill the First Level. The payout structure for NovatechFX is a typical MLM binary compensation grid. Each level earns a cap per cycle. However, many users have complained about the confusing licensing credits.
NovatechFX has 6 trading accounts to choose from. The Builder account requires a minimum of $99. All other accounts require deposits of at least $500, 2,500, $5,000, or $10,000. Those who choose to deposit using cryptocurrencies are advised to avoid the Builder account as it does not allow for easy tracking. The Builder package is available for a minimum deposit of $99.
Despite its name, NovaTechFX has not been registered with the FCA, ASIC, BaFin, CFTC, or any other regulators. These regulators monitor the performance of all the major brokers. Therefore, users should avoid NovaTechFX if they are concerned about their safety. These regulations are geared toward the protection of investors. If you’re a beginner and don’t understand the basics, read this article and learn from the mistakes of others.
While NovaTechFX advertises the MetaTrader5 trading platform, it does not actually offer it. That’s a warning sign, because this broker doesn’t have a licensed or registered entity with any regulatory authority. As a result, there is no way to tell if this company is legitimate or not. Even if it is regulated, it might not be a good idea to invest with it. If it’s an offshore broker, you should not put your money at risk.
Another warning about NovaTechFX is its lack of standard account types. While most mainstream crypto sites offer hundreds, if not thousands, you won’t find much technical analysis. MT5 tools are essential to trading with a crypto exchange. However, they do charge more than most, so they’re not the best choice for everyone. NovaTechFX has many advantages. If you’re serious about trading, it’s worth looking into.