Note: NovusCM official site - http://novuscm.com/ is currently on sale and not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is NovusCM？
NovusCM, also known as Novus Capital Management, provides a range of financial instruments encompassing CFDs on stocks, spot metals, indices, stocks, and cryptocurrencies. Nonetheless, the absence of regulatory supervision and an inactive website raises doubts regarding its trustworthiness and credibility, thereby heightening the risks associated with investment.
In our upcoming article, we will present a comprehensive and well-structured evaluation of the broker's services and offerings. We encourage interested readers to delve further into the article for valuable insights. At the end of the article, we will provide a concise summary that highlights the distinct characteristics of the broker for a clear understanding.
Pros & Cons
Pros:
NovusCM offers tiered accounts with 5 options catering to various trading needs. Their MT4 trading platform provides advanced charting and customization options. Additionally, the availability of a demo account allows traders to practice without risking real funds, enhancing their skills and strategies.
Cons:
NovusCM operates without regulatory oversight, raising concerns about the security and protection of client funds. The unavailability of their website and limited customer service channels further hinders efficient communication and support for traders. Additionally, the high minimum deposit requirement of $1000 deters interested clients.
Is NovusCM Legit or a Scam？
When considering the safety of a brokerage like NovusCM or any other platform, it's important to conduct thorough research and consider various factors.
Regulatory sight: Currently, this broker is running without any legitimate regulatory supervision, fostering doubts about its legitimacy and trustworthiness. This worry is heightened by the broker's inaccessible website. It's vital to engage in comprehensive research when involving oneself with any financial entity, particularly when clear cautionary indicators like these are evident.
User feedback: For a deeper insight into the brokerage, traders should read reviews and feedback from existing clients. These valuable inputs from users, available on trustworthy websites and discussion forums, can provide firsthand information about the broker's operations.
Security measures: So far we cannot find any security measures of this broker.
In the end, choosing whether or not to engage in trading with NovusCM is an individual decision. It is advised that you carefully balance the risks and returns before committing to any actual trading activities.
Market Instruments
NovusCM offers a diverse range of financial instruments catering to various trading preferences.
Traders can access Contracts for Difference (CFDs) on a wide array of stocks, enabling them to speculate on the price movements of popular companies without owning the underlying assets.
Additionally, NovusCM provides opportunities for trading spot metals, allowing investors to engage in the dynamic precious metals market.
Indices trading is also available, enabling traders to speculate on the performance of global stock market indices.
Furthermore, the platform offers access to cryptocurrency trading, allowing traders to participate in the volatile yet lucrative digital asset markets.
Account Types
NovusCM presents traders with a variety of account types to accommodate different trading preferences and capital levels.
Firstly, NovusCM provides traders with the opportunity to explore their platform risk-free through a demo account. This invaluable feature allows users to practice trading strategies, familiarize themselves with the platform's features, and gain confidence before committing real funds to live trading.
For live trading, the Micro account sets the entry point with a minimum deposit of $1,000, followed by the Classic account requiring $5,000, and the Silver account at $20,000.
For higher-tier traders, there's the Gold account with a $50,000 deposit requirement, while the Platinum account offers customized options tailored to individual needs.
The minimum deposit required for NovusCM's account types is relatively high comparing to other brokers, which presents a barrier for some traders looking to get started.
Leverage
Regarding leverage, NovusCM uniformly offers a maximum leverage of 1:200 across all account types. This leverage allows traders to amplify their positions and potentially magnify their returns, but it also entails increased risk exposure. Traders should be cautious and ensure they understand the implications of leverage before trading.
Spread & Commission
NovusCM offers fixed spreads starting from 3 pips across all its account types, providing traders with a predictable cost structure for their trades. However, the broker has not disclosed any commission information, leaving traders in the dark about additional fees they may incur. This lack of transparency regarding the fee structure could be a concern for interested clients.
Trading Platofrms
NovusCM offers traders the powerful and widely respected MetaTrader 4 (MT4) platform for their trading activities.
MT4 is renowned for its extensive customization options, making it a favorite among technical analysts. With advanced charting tools and a wide range of indicators, traders can conduct in-depth analysis to inform their decisions.
Additionally, the platform provides access to the MQL Marketplace, where users can explore and acquire new indicators and automated trading systems to enhance their strategies.
For traders on the move, MT4 is also available as a mobile version, ensuring they can stay connected with market updates and manage their trades conveniently from anywhere.
Deposit & Withdrawal
At NovusCM, traders have access to a variety of payment methods to fund their accounts. These options include traditional Credit Cards as well as a wide range of cryptocurrencies such as Bitcoin (BTC), Dash (DASH), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Litecoin (LTC), Zcash (ZEC), Ethereum (ETH), and Ethereum Classic (ETC).
This diverse selection of digital currencies provides flexibility and convenience for traders who prefer using cryptocurrencies for their transactions. However, it's worth mentioning that NovusCM does not accept Bank Transfers as a payment method.
Customer Service
NovusCM provides customer support primarily through email and phone channels, offering assistance to traders as needed. While these communication channels allow for direct interaction with the broker's representatives, the absence of additional support options can limit accessibility for some traders.
Tel: Ajeltake Road, Ajeltake Island MH96960 Majuro United States.
Email: support@NovusCM.com.
Tel: +（44）2038794733.
Conclusion
In summary, NovusCM offers a wide array of online trading services, including CFDs on stocks, spot metals, indices, and cryptocurrencies, targeting a global clientele. However, the lack of regulatory oversight and persistent website accessibility issues raise significant doubts about its reliability.
Considering these concerns, we recommend you to explore alternative brokers that prioritize transparency, adhere to regulatory standards, and provide dependable customer service.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
