Novotrend Review- Is trading safe? - WikiFX

Novotrend Information

Novotrend is an unregulated broker, offering trading on stocks, metals, commodities, indices and cryptocurrencies with leverage up to 1:500 and floating spread on MT5 trading platform. The minimum deposit requirement is $50.

Pros and Cons

Is Novotrend Legit?

No. Novotrend currently has no valid regulations. Please be aware of the risk!

What Can I Trade on Novotrend?

Novotrend offers trading on stocks, metals, commodities, indices and cryptocurrencies.

Account Type

Here are six account types Novotrend offers:

Leverage

MT5_AI account provides leverage up to 1:500. The use of leverage can both work in your favour and against you. Leverage magnifies the returns from favorable movements in a currency's exchange rate.

Novotrend Fees

Trading Fees

For cryptocurrencies, commodities and indices, the broker requires no commission for depositing or withdrawing profit.

For stock, the commission is from 0.1 USD.

Novotrend Spreads

The broker offers floating spreads.

Non-Trading Fees

If a client requests a withdrawal when there is no trading activity, Novotrade reserves the right to charge the equivalent amount of any bank, exchange fee or 6% of the total withdrawal amount.

If the account is considered inactive (no trading activity) for a period of 6 months, the broker will charge a monthly inactivity fee of 10 EUR/USD.

Trading Platform

Deposit and Withdrawal

The broker accepts payments via QIWI, WebMoney, Visa, MasterCard, bank transfers and popular cryptocurrencies, such as Bitcoin (BTC) , Ethereum (ETH) , Bitcoin Cash (BCH) , etc.

Deposit Options

Withdrawal Options