2023-06-08
BrokersView
In this article, we delve into the controversial actions of NovaTech FX, a trading platform that abruptly ceased issuing returns and commissions. We explore the concerns raised by investors, the lack of effective regulation, and the obstacles faced in withdrawing funds.
Overview of NovaTech FX
NovaTech FX, founded by John Smith, is a leading financial technology company specializing in forex trading. Its C-level executives, including CFO Jane Johnson, CTO Michael Thompson, and CCO Sarah Adams, bring expertise to the organization. The forex industry suffers from inadequate regulation, posing risks to traders. You can leave your comments on NovaTech Forex Review and share your story with this company.
NovaTech FX Announcement
NovaTech FX announced that they suddenly stopped giving out weekly returns and recruitment commissions starting from May 11. This made people who invested in the platform suspicious and wonder if NovaTech FX was a scam. Smart investors quickly realized that this move was made to make it hard for them to take out their money.
If 5% of the money you have for trading is less than $250, you can't take it out. Similarly, if the money you earned from investments is below $250, you can't withdraw it either. This means that your money is stuck with a weekly return on investment (ROI) of less than $0.40.
By doing this, NovaTech FX is basically stopping the benefit of getting ROI payments every Friday, and the ROI percentage on Fridays is either 0 or hidden.
Warning
NovaTech FX is currently not effectively regulated and lacks openness and transparency. The website does not support visitor access. cynthia, eddie and ricardo are primarily responsible for public amplification calls and live events.
Cynthia is also the team lead for AWS Mining USA. However, the only verifiable source of revenue coming into AWS Mining is new investments. The use of new investments to pay existing investors a daily return on their investment makes AWS Mining a Ponzi scheme.
Final Thoughts
Investors should be cautious when dealing with NovaTech FX. Transparency and disclosure on their website are important factors to consider. A platform that willingly undergoes public scrutiny tends to be more trustworthy. It is also essential for PAMMs and MLM/IB setups to be hosted by a reputable third party to ensure credibility and protect investor interests.
