Novatechfx: Legitimacy Analysis And Unbiased Review
They provide a free consultation and comprehensive case analysis to identify the best chargeback strategy for your unique situation. Novatech FX is a forex and crypto trading platform that emphasizes pooled investment funds. It was founded in 2019 by Cynthia Petion and Eddy Petion, US citizens who have previously been involved with a company called AWS Mining.
The company is not regulated, which means that the money you deposit with them may be lost. Its website is a good indicator of its Is Novatechfx legit or fake, but there are also many complaints online about its withdrawal issues and manipulation practices. Moreover, it is based in St Vincent and the Grenadines, which is not a very reliable location for investment companies. Another red flag is that Novatech FX claims to offer 365 percent-plus annual rates of return. That’s a lot of money. To put that in perspective, Warren Buffet and Peter Lynch both had average annual returns of 29%, which is far lower than Novatech FX’s.
Moreover, it’s not unusual for scam brokers to fake live accounts and profits. According to professional Forex and Futures trader Nick Syiek (known as TraderNick on YouTube), shady brokers are known to do this. This is a big red flag. The owners of Novatech FX, Cynthia Petion and Eddy Petion, were admins of a previous scam called AWS Mining.
Many traders who invested in Novatechfx have experienced issues with the broker’s customer service. They have reported issues such as withdrawal delays, account restrictions, and manipulative practices. These complaints have been escalated to regulatory authorities in the US and Canada. This has resulted in Novatechfx being banned in several countries. Cynthia Petion is a successful entrepreneur and founder of NovaTech, LTD, a forex and cryptocurrency trading platform that promises MLM benefits to users. Her business experience includes product management, sales, and training.
The company’s website claims that Novatech offers a range of educational resources, including webinars and video presentations. However, the website does not offer a live chat or telephone number. The website does not mention whether it is registered with the SEC, and customers should exercise caution when deciding to invest with unregistered brokers. They also recommend avoiding investing with firms located in St Vincent and the Grenadines. This is a common sign of an investment scam.
Novatech FX is an unregulated broker that claims to offer a safe and secure environment for trading. However, it has been reported that the company is a Ponzi scheme and should be avoided. If you have lost money in this scam, you may be able to get your money back by filing a claim with a securities regulator or industry organization. If you’re thinking of investing with Novatech, it’s important to keep in mind that a 300% plus annual return sounds too good to be true. In fact, it’s a red flag that they’re not being honest with their investors. MyChargeBack is a reputable service that can help you Recover funds from Novatechfx.
To understand why, let’s look at the average annual returns of accomplished investors like Warren Buffet and Peter Lynch. These investors averaged about 20% annually, so Novatech’s claims are far from realistic. In addition, Novatech is a shell corporation that may not be able to pay its investors in the event of a default. The Petions have also sold their US home, suggesting that they’re preparing for a collapse of the business.
If you’re a member of Novatechfx, you can earn money by recruiting new members and referring them to the company. Moreover, higher-ranked members can also earn bonuses based on their performance. These bonuses can be in the thousands of dollars, depending on your rank and how well you recruit. The company claims to offer multiple payment options, including PayPal and wire transfer. However, some users have reported difficulty in withdrawing funds from the site. Similarly, some users have experienced poor customer service.
One red flag for Novatech is the fact that its owners, Cynthia and Eddy Petion, were previously involved with an alleged Ponzi scheme called AWS Mining. This doesn’t necessarily mean that Novatech is a scam, but it does indicate that you should be cautious. You should always conduct thorough research before investing your life savings. This includes a background check on the company and its representatives. This will help you avoid losing your money to a fraudulent company.
Eddy and Cynthia Petion are US citizens with connections to New. This could be considered a red flag. If (and I’m not saying they are) a Ponzi scheme, then their profits will inevitably wane and the business will collapse.