Alliance Nova Trust has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
What really bothers me about Alliance Nova Trust is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them from a review site like this one and I fell for the polished exterior. Never again.
Pros: Demo account available|Good analytical tools
Cons: Currency conversion fee exists|Onboarding videos are outdated
After for a couple of months now with Alliance Nova Trust, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: Educational resources|Market news feed
Cons: Nothing significant
Tried to withdraw my funds from Alliance Nova Trust and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Lost entire investment|Reported to authorities|Unresponsive
I had high hopes for Alliance Nova Trust after a family member had a good experience, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Good analytical tools|Fast support response
Cons: Email notifications too frequent|Desktop app not available on Linux
I have been trying to close my account with Alliance Nova Trust for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Stable platform|Segregated accounts|Multiple order types|Market news feed
Cons: Search feature is basic|Live chat only during business hours
I requested my data from Alliance Nova Trust under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Low minimum deposit|Social trading features
Cons: No integrated tax optimization|Some tools only available on higher tiers
Do not be fooled by the professional-looking website. Behind the scenes, Alliance Nova Trust is disorganized and incompetent. I found them after my brother mentioned them and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Full transparency|Regular platform improvements
Cons: Mobile app could be improved|Email notifications too frequent
Alliance Nova Trust offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Market news feed|Good analytical tools|Transparent fees|Easy withdrawals
Cons: No phone support on weekends
After seeing ads for Alliance Nova Trust online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Markets Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Flagged by Financial Markets Authority|Cannot verify credentials
I wanted to transfer my portfolio from another broker to Alliance Nova Trust. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Risk management tools|Detailed reporting|Educational resources
Cons: Charting tools need more indicators