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Novox
Unregulated
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Novox

Saint Vincent and the Grenadines
Not disclosed
2
1.73
Rating Index
Software
6.4
Licensed
0
Risk Control
1.2
Experience
5.71
Institution
0
Industry Classification
D
Unqualified
Trading Platforms
MT4

Basic Information

  • Registered Region
    Saint Vincent and the Grenadines
  • Operation Status
    Abnormal
  • Operating Period
    Not disclosed
  • Deposit Methods
    CoinPay, U-Payment, UnionPay, Visa, MasterCard, Skrill, Neteller, POLi, Bitwallet, Bank wire
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
    Chinese
  • Main Business
    FX, commodities, indices, cryptocurrencies, stocks
  • Business Type
    Financial services provider
  • Social Media
  • Contact Details
  • Type of Accounts
    Standard, Xero, Premium
  • Trading Platforms
    MT4
  • Withdraw Methods
    Visa, MasterCard, Cryptocurrencies
  • Auto Trading
    EA supported

Pros and Cons

Pros: Multiple deposit and withdrawal methods; accepts cryptocurrency; demo accounts available; supports popular MT4 platform. Cons: Unregulated status; revoked ASIC license; high minimum deposit for some accounts; inconsistent customer support.

Company Background

Novox Capital Limited is noted to operate as a financial services provider, having established a presence in Cyprus with various listings across social and trading platforms. However, its operational detail remains vague with its website reportedly inaccessible, raising questions about its ongoing availability and legitimacy in retail forex markets.

Fund Security

The safety of funds with Novox raises concerns due to its unregulated status, coupled with a revoked ASIC license. No explicit details were found regarding the segregation of accounts or any insurance schemes, leaving a significant risk for client investments.

Account Opening

Novox offers three main account types including Standard (minimum deposit of $200), Xero (minimum deposit of $25,000), and Premium (minimum deposit of $50,000). The registration process includes standard identity verification but lacks transparency in terms of features and conditions.

Trading Fees

Trading fees vary per account type, with the Standard account featuring spreads starting from 2.4 pips and no commissions, while the Xero account offers spreads from 0.0 pips but incurs a $5.5 commission on trades.

Trading Instruments

Novox provides a variety of trading instruments: forex pairs, commodities, indices, cryptocurrencies, and stocks. Specific details on counts and examples are limited but indicate an extensive range encompassing diverse asset classes.

Trading Technology

The trading technology is encapsulated in the MT4 platform which facilitates mobile, web, and desktop trading environments. Features include advanced charting tools, but there are no details available about execution speed or availability of APIs.

Research and Education

Educational offerings appear to be minimal as no specific research tools or comprehensive educational materials were disclosed, potentially limiting trader knowledge advancement.

Customer Support

Customer support is reportedly available via phone and email, but the responsiveness level raised issues among user reviews, suggesting delays in resolving issues, especially concerning account access and withdrawal requests.
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Rating Instructions
Rating Index
Novox
Novox
Unregulated
Legal Environment
6.4
License Value
0
Risk Management
1.2
Investor Protection
5.71
Regulatory Policy
0
  • Software

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  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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