Score
Cyprus
|
5-10 years
| --
Website
Rating Index
Influence
C
Influence index NO.1
Australia 4.11
Cyprus| VPS Region | User | Products | Closing time |
|---|---|---|---|
| 469*** | BITCOIN | 11-29 03:22:06 | |
| 805*** | BITCOIN | 11-29 03:19:28 | |
| 209*** | BITCOIN | 11-29 03:13:12 |
Stop Out
1.56%
Stop Out Symbol Distribution
6 months
WikiResearch
VIP is not activated.
Note: NOVOX's official website: https://www.novoxfx.eu/ is currently inaccessible normally.
| NOVOX Review Summary | |
| Founded | 2014 |
| Registered Country/Region | Cyprus |
| Regulation | ASIC (Revoked) |
| Market Instruments | Forex, commodities, indices, cryptocurrencies, stocks |
| Demo Account | ✅ |
| Leverage | Up to 1:30 |
| Spread | From 2.4 pips (Standard Account) |
| Trading Platform | MT4 |
| Minimum Deposit | $200 |
| Customer Support | Tel: +357 25 267 880 |
| Email: info@novoxfx.com | |
| Facebook: https://www.facebook.com/NOVOX-Group-352837095367991 | |
| Instagram: https://www.instagram.com/novoxglobal/ | |
| Regional Restrictions | the USA, Yemen, Syria, North Korea, Puerto Rico |
NOVOX is a regulated broker, offering a wide range of financial instrument categories, including forex, commodities, indices, cryptocurrencies, and stocks with leverage up to 1:30 and spread from 0.0 pips on the MT4 platform. The minimum deposit requirement is $200.
| Pros | Cons |
| Popular payment options | Regional restrictions |
| Demo accounts | Revoked ASIC license |
| Various trading products | Inaccessible website |
| MT4 platform | High minimum deposit requirement |
NOVOX's Australia Securities & Investment Commission (ASIC) license is revoked. Please be aware of the risks!
| Regulated Country | Regulator | Current Status | Regulated Entity | License Type | License No. |
| Australia | ASIC | Revoked | NOVOX GROUP PTY LTD | Appointed Representative | 001274982 |
Novox offers investor trading instruments including forex, commodities, indices, cryptocurrencies, and stocks.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Stocks | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| ETFs | ❌ |
| Bonds | ❌ |
| Options | ❌ |
Here are three account options offered by Novox: Standard account, Xero account, andPremium account. Besides, demo accounts are also available, which enables traders to monitor exicution before opening a live account.
| Account Type | Minimum Deposit |
| Standard | $200 |
| Xero | $25,000 |
| Premium | $50,000 |
The leverage offered to the customers is the same for all account types on FX, up to 1:30 and on CFDs up to 1:20.
| Trading Asset | Maximum Leverage |
| FX | 1:30 |
| CFDs | 1:20 |
It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital.
| Account Type | Spread | Commission |
| Standard | From 2.4 pips | 0 |
| Xero | From 0.0 pips | $5.5 |
| Premium | $4 |
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | PC, web, mobile | Beginners |
| MT5 | ❌ | / | Experienced traders |
Novox accepts payments via COINPAY, U-PAYMENT, UnionPay, Visa, MasterCard, Skrill, Neteller, POLi, Bitwallet, NLV and bank wire.
The major cons for me include the revoked ASIC license, which poses significant risks, and regional restrictions that limit access to certain markets like the USA, North Korea, and others. Moreover, their website is reportedly inaccessible at times, which is frustrating for a trader who needs constant access to their account. The high minimum deposit requirement for some accounts is also a downside.
While NOVOX was once regulated by ASIC, the revocation of their license raises serious concerns about its legitimacy. For me, as a trader, a revoked license implies that the broker may not meet the necessary regulatory standards, which compromises both safety and reliability. I wouldn’t consider NOVOX fully legitimate without active regulation.
The Standard account offers a spread from 2.4 pips on major currency pairs, which is quite high compared to some other brokers. However, the Xero and Premium accounts offer much tighter spreads, starting from 0.0 pips. The commission structure on these accounts helps offset the lower spreads.
NOVOX supports a variety of withdrawal methods, including COINPAY, U-PAYMENT, UnionPay, Visa, MasterCard, Skrill, Neteller, POLi, Bitwallet, and bank wire. With such a wide range of options, I think most traders will find a method that suits their preferences.
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FX2590068271
Hong Kong
NOVOX blocked my account and refused to withdraw funds on the grounds of illegal transactions, because my account was profitable, and the profit was not allowed to withdraw funds. It has been two months since September. My account number is 620359, and the balance is 18522.90 USD. I want to unblock the account immediately and withdraw the full amount!
Exposure
Đoàn Tiến Xklđ
Vietnam
Request broker to allow make withdrawal to my account.
Exposure
W123
Singapore
The account cannot be logged in. It has not been able to log in for a long time. The customer service said that the re-application will be bound and returned together. The application has not been returned to the old account, and the old account still cannot be logged in.
Exposure
孟祥帅
Taiwan
Trading Novox is a pleasant experience. It takes little time to deposit money or withdraw money, professional and responsible trading customer support can be available anytime Get lucky like I am and make some profits while you're here on this platform.
Positive
FX2077629417
Vietnam
I made a withdrawal order in 2021 from H, the money k was returned to the exchange to lock my account and delete my account information
Exposure
Jirayut Konkompa
Thailand
The person who was deceived was cheated from pirated web bootleg broker In a manner similar to what I was hit There are people who add line to invite you to trade and invest. and then withdrawing money is not claimed to pay taxes, etc. please contact me will collect as many victims as possible. To bring a lawsuit back to these pirated sites ID:Line frame_37
Exposure
Đoàn Tiến Xklđ
Vietnam
My account has been trading at novox for 2 years now and there is no support to withdraw money, and I ask the exchange to let me withdraw
Exposure
Đoàn Tiến Xklđ
Vietnam
I have been trading at the exchange for more than 2 years without withdrawing money, I hope someone will contact the exchange to handle it for me.
Exposure
Đoàn Tiến Xklđ
Vietnam
I have messaged on the website many times about the withdrawal support for 2 years, but no one to handle it
Exposure
FX5179656533
Hong Kong
On April 18th, I deposited and traded of the index and I was lucky enough to earn 2,000 US dollars. When I submitted the withdrawal, I refused to withdraw on the grounds of monitoring the back-end and threatened me to send an email to admit that I violated the rules before giving the principal and also paying Part of the principal has been deducted. If it is said that the background monitoring is used, why is it not monitored for a month, but it is monitored when the money is withdrawn? What is this monitoring to monitor the profit and loss of customers? And it is a b position, so I choose to bet Don't be fooled. The staff in the background are unprofessional and can't give a professional explanation at all, especially the woman surnamed Wang originally had a Skype group chat as a connection to the group and removed me from group chat after the incident.
Exposure