novatrade has been flagged by Financial Services Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. novatrade recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Full transparency|Good mobile app|Social trading features|Quick verification
Cons: Alert system is basic|No live chat on mobile
After seeing ads for novatrade online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Services Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Pros: Website looks legitimate on the surface
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
After since mid-2025 with novatrade, 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: Regular updates|Dedicated account manager
Cons: Could offer more webinars
Where do I even begin with novatrade? for a couple of months now of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Risk management tools|Regular updates|No hidden fees|Full transparency
Cons: Nothing significant
If you are reading this considering novatrade - run. I wish I had read more negative reviews after seeing their ad online. I thought the positive ones were real. Maybe some are. My experience over for about five months has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Reliable uptime|Risk management tools|Intuitive for beginners|Real-time alerts
Cons: None so far|Mobile app could be improved
I signed up with novatrade from a blog post comparing services and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Reliable uptime|Fast deposits
Cons: Would like more payment methods
I invested $5,000 with novatrade after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Financial Services Authority.
Pros: Initially responsive customer service
Cons: Lost entire investment|Reported to authorities|Unresponsive
I found novatrade after reading several online reviews 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: Quick verification|Instant funding
Cons: Currency conversion fee exists|Help articles are sometimes vague