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Risk Warning: Your capital is at risk. Statistically, 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

2.2
/ 5

FXNovus review

Updated on Sep 13, 2024
|
12 mins read

Overview

Introduction As a South African CFD broker founded in 2020, FXNovus aims to carve its niche by offering a regulated platform that promises a new trading experience. With...
See full overview for FXNovus
Countries
+164
Minimum deposit
$250
Withdrawal fee
$0
Deposit fee
$0
Max insured
No
Our Verdict
2.2
/ 5
Commissions & Fees
2.4
/ 5
Deposit & Withdrawal
1.3
/ 5
Customer Support
2.4
/ 5
Account Opening
3.4
/ 5
Regulation & Safety
1.7
/ 5

Our 5-step process of verification and evaluation – How do we obtain information?

 

General inspection – 30%

Trading experience – 30%

Technical audit – 20%

Collective experience from collaborations with the broker – 10%

Interviews with real traders – 10%

 

See the entire process here.

Pros

  • Regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, ensuring compliance with industry standards.

  • Offers multiple channels for contacting support, enhancing accessibility and responsiveness.

  • Provides round-the-clock customer support, accommodating traders across different time zones.

  • Features multiple account tiers, catering to diverse trading preferences and experience levels.

  • Presents a balanced selection of liquid trading instruments, facilitating diversified investment strategies.

  • Boasts a user-friendly trading platform, simplifying the trading process for novice and experienced traders.

Cons

  • There is an absence of MT4 or MT5 platforms, which need to include features and functionalities preferred by many traders.

  • Offers a less extensive list of tradable assets than some competitors, limiting investment opportunities.

  • Withdrawal times can be lengthy, potentially causing inconvenience for traders requiring prompt access to funds.

General details

Type of accounts
Standard Accounts
ECN accounts
STP accounts
VIP accounts
Execution Model
ECN
STP
Deposit currency
USD
EUR
GBP
CHF
Regulatory complience
FSC (BVI)
Deposit payment systems
Withdrawal payment systems
Support Languges
English
Arabic
Spanish
Italian
Chinese
Korean
Malay
German
Portuguese
Thai
French
Hindi
Autotrading
Contact details
[email protected] +27101571900

Customer reviews

Read real reviews from traders all over the world:

No reviews yet.

Accounts

FX Novus offers Demo Accounts with time limit and Standard Accounts.

Tradable instruments

FXNovus offers a range of over 160 tradable instruments. These include various asset classes such as:

  • Forex: Major, minor, and exotic currency pairs
  • Commodities: Including metals, energies, and agricultural products
  • Indices: Global stock indices
  • Shares: Individual stocks from major global markets
  • Cryptocurrencies: A selection of popular digital currencies
Commodities
10
Currencies
50
Cryptocurrencies
10
Indices
5
Stocks
85

Frequently asked questions

Find the right answer to your question below:

Is FXNovus a Scam?

FXNovus is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa and holds an FSP License Number 50963. This regulatory oversight ensures that FXNovus adheres to established financial standards and practices.

Additionally, online reviews on platforms like Trustpilot provide insights into the experiences of FXNovus users. FXNovus has garnered reviews on Trustpilot, with its TrustScore and user feedback as indicators of its credibility and reliability.

How do I open an FXNovus trading account?

When creating an account on FXNovus, traders need to respond to personal questions regarding their trading background and income. FXNovus ensures compliance with global Anti-Money Laundering/Know Your Customer (AML/KYC) regulations. Account verification is a necessary step in the process.

Traders can verify their accounts by uploading a government-issued ID and a proof of residency document. FXNovus may request additional information on a case-by-case basis. Traders must also verify their chosen payment method before proceeding. These measures help maintain security and regulatory compliance on the FXNovus platform.

To open an FXNovus trading account, follow these general steps:

  • Go to the official FXNovus website to begin the account opening process.
  • Click on the “Open Account” option on the website’s homepage at the top corner of the screen.
  • You’ll typically be required to provide personal information such as your full name, email address, phone number, and country of residence. Make sure to enter accurate details.
  • Review and agree to the terms and conditions of FXNovus. Make sure you understand the risks involved in trading financial instruments.
  • Select the type of trading account that best suits your trading preferences and experience level. FXNovus may offer various account types with different features and benefits.
  • Following regulatory requirements, clients must undergo a verification process to confirm their identity. This may involve submitting identification documents such as a passport or driver’s license and proof of address.
  • Once your account is verified and approved, you must fund your trading account with the required minimum deposit. FXNovus offers multiple deposit methods, such as credit/debit cards, bank wire transfers, and online payment processors.

FXNovus compared with alternative brokers

To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.

  • Overall verdict
  • Trading
  • Minimum deposit
  • Maximum leverage
  • Fees
  • Withdrawal fee
  • Deposit fee
  • Safety
  • Top-tier regulators
  • Investor protection
FXNovus
  • 24/7 Customer Support
  • Variety of Trading Instruments
  • Affiliate Program
  • Specialized trading accounts
  • 2.2
    / 5
  • 1.3
    / 5
  • $250
  • 400
  • 2.4
    / 5
  • $0
  • $0
  • 1.7
    / 5
  • No
  • No
  • See review
RoboForex
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • Specialized trading accounts
  • 4.9
    / 5
  • 5
    / 5
  • $10
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  • 4.8
    / 5
  • 1%
  • $0
  • 4.9
    / 5
  • No
  • Yes
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Exness
  • Specialized trading accounts
  • 24/7 instant money withdrawal
  • Free VPS hosting
  • 4.9
    / 5
  • 4.9
    / 5
  • $10
  • 1:2000
  • 4.8
    / 5
  • $0
  • $0
  • 4.6
    / 5
  • FCA, CYSEC
  • No
  • See review
FxPro
  • 24/7 instant money withdrawal
  • Specialized trading accounts
  • Free VPS hosting
  • High leverage
  • 4.8
    / 5
  • 4.9
    / 5
  • $100
  • 1:10000
  • 4.7
    / 5
  • $0
  • $0
  • 4.8
    / 5
  • FCA
  • Yes
  • See review
Libertex
  • Specialized trading accounts
  • 24/7 instant money withdrawal
  • Proprietary platform
  • Mobile trading
  • 3.7
    / 5
  • 4.8
    / 5
  • €100
  • 1:600
  • 4.2
    / 5
  • $0
  • $0
  • 2.6
    / 5
  • CySEC
  • Yes
  • See review
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