Novauri 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.
After spending since early this year trying to make Novauri work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Detailed reporting|Full transparency|Educational resources|Responsive team
Cons: Nothing significant
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Pros: Information is publicly available for verification
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
I had a dispute with Novauri and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Regular platform improvements|Risk management tools|Two-factor authentication|Automated trading options
Cons: Charting tools need more indicators|Wish they had more educational resources
After seeing ads for Novauri 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: Listed in warning databases|No transparency|Pressure to invest quickly
The mobile app from Novauri is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Transparent fees|Quick verification|Wide product range
Cons: Inactivity fee applies after 12 months|Nothing significant
My card was charged twice by Novauri on the same day. I had to dispute it with my bank. Novauri then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Good mobile app|Copy trading available|Comprehensive tools
Cons: Live chat only during business hours
I was contacted by Novauri through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Pros: Professional looking website
Cons: Lost entire investment|Reported to authorities|Unresponsive
I wanted to transfer my portfolio from another broker to Novauri. 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: High security standards|Regular updates
Cons: Alert system is basic|Minimum deposit could be lower