NovalOption has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Market...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I closed a profitable position at NovalOption and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Fast deposits|Comprehensive tools|Easy withdrawals
Cons: Wish they had more educational resources|Charting tools need more indicators
I lost a significant amount because NovalOption did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Segregated accounts|Full transparency
Cons: Website design could be more modern|No crypto staking
I found NovalOption through a forum discussion and the initial impression was positive. But for a few weeks now later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Copy trading available|Good mobile app|Low minimum deposit
Cons: Wait times can be long during peak hours|Would like more payment methods
My withdrawal request from NovalOption has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Good analytical tools|Competitive fees|Low minimum deposit
Cons: Slow to add new assets
KYC with NovalOption is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Personal attention|Good mobile app
Cons: Search feature is basic