To satisfy traders of different experience levels, Novazx provides four account types: Mini, Classic, Premium, and Executive. Anyway, with a minimum deposit of $2,500, many traders may prefer a cheaper broker.
Pros and Cons
Is Novazx Legit?
Novazx was established in the United Kingdom by NameCheap. Inc.; however, the FCA, the local financial regulator, does not have any information relating to it.
What Can I Trade on Novazx?
Novazx offers 7 trading options, including forex, CFDs, stocks, cryptos, currency pairs, commodities and indices.
Account Type
Novazx provides 4 account types: Mini, Classic, Premium and Executive.
Mini accounts are suitable for small and new traders.
Classic accounts are suitable for experienced investors.
Premium accounts fit for professional ones.
Executive accounts are for institutional investors.
Novazx Fees
Novazx claims to offer low and competitive spreads but not specified. And also, no any info on commissions. The only available info on fees is their inactivity fee ($36 monthly).
Trading Platform
Deposit and Withdrawal
Novazx requires a minimum deposit of $2,500. But the minimum withdrawal is not mentioned.
Deposit Options
Withdrawal Options
Customer Service
The Bottom Line
To sum up, Novazx is friendly to customers and provides a 24/7 online chat to resolve customers' issues at any time. On the other hand, no demo accounts may result in the loss of many beginners. This broker is well-suited for customers who want to invest in the long term and don't care about regulation.
FAQs
Is Novazx safe?
No, Novazx is not regulated.
Is Novazx good for day trading?
No, because the processing time of deposit and withdrawal is too long (2 days).
What kind of trading platform does Novazx offer?
Instead of the industry-leading MT4/5, Novazx only offers a web trader.
