FXNovus Review

FXNovus is a highly regulated and technologically advanced brokerage service that focuses on CFDs in forex, commodities, indices, and cryptocurrencies and has a trust score of 80 out of 99.

🛡️Regulated and trusted by FSCA
🛡️2808 new traders chose this broker in the last 90 days.
🛡️Available for global Traders.

Overview

FXNovus offers a straightforward trading experience for most traders, especially casual and algorithmic traders who want to use EAs. FXNovus focuses on CFDs across forex, commodities, indices, and cryptocurrencies. It was created to provide traders an accessible trading options operating under the regulatory license of the FSCA.

The Broker stands out for its in-house trading platform. Unlike brokers that rely on standard third-party platforms, offering a custom-built solution that integrates real-time market data, advanced charting tools, and quick order execution. Moreover, it also keeps things straightforward with the account types offered.

Most features are stock standard across accounts except for the spreads charged, and the product offering of 160 CFDs is not nearly as extensive as that of other brokers; FXNovus has a few features that make it an ideal choice for beginner and professional traders.

Frequently Asked Questions

What trading options does FXNovus offer?

FXNovus primarily focuses on Contracts for Difference (CFDs) across various asset classes, including forex, commodities, indices, and cryptocurrencies. This range makes it suitable for both casual and algorithmic traders.

Is FXNovus regulated?

Yes, FXNovus operates under a regulatory license from the Financial Sector Conduct Authority (FSCA), ensuring a level of oversight and protection for traders.

What kind of trading platform does FXNovus provide?

FXNovus features an in-house trading platform that offers real-time market data, advanced charting tools, and quick order execution, distinguishing it from brokers that use standard third-party platforms.

What account types are available with FXNovus?

FXNovus offers a straightforward selection of account types, where most features are standard across accounts. The main differences lie in the spreads charged, and while they offer 160 CFDs, their product offering is not as extensive as some competitors.

Our Insights

FXNovus provides a user-friendly trading experience, particularly for casual and algorithmic traders. With its custom trading platform, regulatory backing, and straightforward account options, it caters well to both beginners and experienced traders, despite a more limited range of CFDs compared to some other brokers.

Detailed Summary

Frequently Asked Questions

When was FXNovus established, and what regulation does it have?

FXNovus was established in 2020 and operates under the regulatory oversight of the Financial Sector Conduct Authority (FSCA), ensuring a secure trading environment.

What trading platforms and account types does FXNovus offer?

FXNovus provides its custom-built FXNovus Trading Platform. Traders can choose from various account types, including Classic, Silver, Gold, Platinum, VIP, and a Demo account.

What are the trading conditions regarding spreads and leverage?

Spreads vary by account type, starting from 2.5 pips for Classic and Silver accounts, and going down to 0.9 pips for VIP accounts. Leverage is up to 1:400 for forex, 1:200 for commodities, and 1:5 for cryptocurrencies.

Are there any fees or restrictions on FXNovus accounts?

FXNovus charges an inactivity fee of $100 after one month and up to $500 after three months. Additionally, scalping is prohibited, while hedging is allowed. There are no commission fees, as spreads are the primary cost.

Our Insights

FXNovus offers a user-friendly trading experience, backed by FSCA regulation and a custom trading platform. With a range of account types and competitive spreads, it caters well to various traders, although it imposes inactivity fees and prohibits scalping. Overall, it’s a solid choice for those looking to trade across multiple instruments.

Safety and Security

Yes. FXNovus is regulated and safe to trade with. We’ll detail all that traders need to know regarding safety and regulations in the sections below.

License and Oversight (FSCA)

FXNovus operates under the regulatory oversight of the Financial Sector Conduct Authority (FSCA) in South Africa under license number 50963. This regulatory body provides safeguards for traders globally keeping FXNovus to strict financial standards.

The regulator enforces stringent rules regarding capital adequacy, client fund protection, and transaction transparency. This inevitably gives traders confidence that the broker is legit and has a framework to protect their investments.

Client Data Safety

FXNovus has robust client data protection that complies with relevant laws like South Africa’s Protection of Personal Information Act (POPI).

POPI mandates that companies securely handle all personal data. FXNovus uses SSL encryption to support compliance and extend protection across the website and platforms. FXNovus follows international standards for data security, regularly auditing its systems to ensure compliance with AML (Anti-Money Laundering) laws and preventing unauthorized access to sensitive information.

Data segregation protocols are also in place, ensuring that personal and financial information is stored separately and securely. These protective measures give clients peace of mind that their data is handled responsibly and securely across jurisdictions.

Client Fund Segregation and Protection Policies

FXNovus follows FSCA guidelines on fund segregation, where all the funds deposited into trading accounts are kept in separate accounts from where the broker keeps its operational capital. Fund segregation guarantees that client funds are secure even if the broker goes bankrupt and won’t be used to cover company expenses.

FXNovus enforces a policy of zero third-party deposits, and cash deposits are not accepted, aligning with its AML obligations.

Frequently Asked Questions

Is FXNovus a regulated broker?

Yes, FXNovus is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa under license number 50963. This regulatory oversight ensures that FXNovus adheres to strict financial standards, providing a safe trading environment for clients.

What measures does FXNovus take to protect client data?

FXNovus complies with South Africa’s Protection of Personal Information Act (POPI) and employs SSL encryption to secure personal data. They regularly audit their systems for compliance with Anti-Money Laundering (AML) laws and implement data segregation protocols to keep personal and financial information safe.

How does FXNovus ensure the safety of client funds?

FXNovus segregates client funds according to FSCA guidelines, keeping trading account deposits in separate accounts from the broker’s operational funds. This practice ensures that client funds are protected even in the event of the broker’s bankruptcy.

Are there any restrictions on fund deposits at FXNovus?

Yes, FXNovus enforces a policy of zero third-party deposits and does not accept cash deposits. This aligns with their AML obligations and further enhances the security of client funds.

Our Insights

FXNovus prioritizes safety and regulatory compliance, operating under FSCA oversight and implementing stringent measures for data protection and fund security. With client funds segregated and robust data privacy protocols in place, traders can feel confident that their investments and personal information are well-protected.

Affiliate Program

When you sign up with FXNovus as an affiliate, you contribute to the broker’s overall liquidity and trading volume because the traders you refer to sign up and actively trade across markets. When this happens, you’re rewarded according to your referred clients’ trading volume.

• Affiliates earn a percentage based on referred traders’ activity.
• Monthly payouts via bank transfers or alternative methods.
• FXNovus offers professionally designed marketing materials, saving you the hassle of creating your own.
• Most applications are approved within 1-3 business days.

Getting started with the FXNovus Affiliate Program is quick. To join, affiliates provide basic details like contact information and marketing plans. After applying, approval takes just 1-3 business days. Once approved, affiliates get access to their dashboard where they can start promoting FXNovus.

FXNovus has real-time guidance during the onboarding process, so affiliates receive the tools they need to make an impact, succeed, and increase liquidity on FXNovus.

Frequently Asked Questions

How do I earn money as an affiliate with FXNovus?

Affiliates earn a percentage based on the trading volume of the clients they refer. The more active the referred traders are, the higher the potential earnings.

What are the payout methods for affiliate earnings?

Affiliates receive monthly payouts through bank transfers or alternative payment methods, providing flexibility in how they receive their earnings.

How long does it take to get approved for the affiliate program?

Most applications are approved within 1-3 business days, allowing you to start promoting FXNovus quickly.

What support does FXNovus provide for affiliates?

FXNovus offers professionally designed marketing materials and real-time guidance during the onboarding process, equipping affiliates with the tools needed for successful promotion.

Our Insights

The FXNovus Affiliate Program offers a streamlined way to earn commissions based on referred trading volume. With quick approval, flexible payout options, and robust support, it’s an attractive opportunity for those looking to monetize their network in the trading community.

Minimum Deposit and Account Types

FXNovus provides five account types – Classic, Silver, Gold, Platinum, and VIP – each tailored to different trader profiles. These accounts vary in minimum deposit requirements and spreads, with perks such as enhanced customer support and swap discounts for more experienced traders. Below, we’ll outline the unique features of each account to help you find the best fit for your trading goals.

Please Note: 

FXNovus lets traders use different strategies but enforces restrictions to ensure the platform’s integrity. The following trading strategies are either prohibited or restricted:

• Arbitrage trading: Prohibited due to the potential exploitation of latency in market data.
• Latency trading: Restricted on all accounts, as it can disrupt market execution.
• Aggressive scalping: Permitted only under specific conditions to ensure market stability.

Frequently Asked Questions

What account types does FXNovus offer?

FXNovus provides five account types: Classic, Silver, Gold, Platinum, and VIP. Each is designed for different trader profiles, with varying minimum deposit requirements and spreads.

What additional features do the higher-tier accounts offer?

Higher-tier accounts, such as Gold, Platinum, and VIP, typically come with enhanced customer support, tighter spreads, and swap discount options, catering to more experienced traders.

Are there any restrictions on trading strategies at FXNovus?

Yes, FXNovus prohibits arbitrage trading and restricts latency trading across all accounts. Aggressive scalping is allowed only under specific conditions to maintain market stability.

How can I choose the right account type for my trading goals?

To find the best fit, consider your trading style, minimum deposit preferences, and the specific features you may need, such as customer support or lower spreads.

Our Insights

FXNovus offers a range of account types to suit various traders, from beginners to advanced users, each with distinct features. However, it also imposes restrictions on certain trading strategies to maintain market integrity. This balance of flexibility and regulation makes FXNovus a suitable choice for diverse trading needs.

How to Open an Account on FXNovus

Opening an account with FXNovus is straightforward, but there are a few key points to consider first:

What to Know Before Registering:

Before registering, familiarize yourself with FXNovus’ trading terms and regulatory compliance. Be aware of margin requirements based on your account type and the negative balance protection policy, which safeguards your funds.

FXNovus follows FSCA regulations, necessitating strict Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance, requiring proof of identity and address verification.

• Account Registration Process
• Visit the FXNovus website and complete the sign-up form.
• Enter your details accurately for verification.
• Submit KYC documents for identity and address verification.
• Wait for your documents to be reviewed and approved.
• Once verified, deposit funds and start trading.
• Document Verification Requirements

You’ll need to submit:

• Proof of Identity: Passport, driver’s license, or national ID card.
• Proof of Address: Utility bill, bank statement, or government document dated within the last three months.

The document verification process typically takes up to two weeks.

Frequently Asked Questions

What do I need to know before opening an account with FXNovus?

Understand the platform’s trading terms, margin requirements based on your account type, and the negative balance protection policy, which helps safeguard your funds.

What is the account registration process?

To register, complete the sign-up form, enter your details, submit KYC documents for verification, and wait for approval before depositing funds and starting to trade.

What documents are required for verification?

You need to provide proof of identity (passport, driver’s license, or national ID) and proof of address (utility bill, bank statement, or government document dated within the last three months).

How long does the verification process take?

The document verification process can take up to two weeks, as FXNovus reviews submissions to comply with regulatory requirements.

Our Insights

Opening an account with FXNovus is a clear and structured process, designed with regulatory compliance in mind. While the verification may take some time, understanding the requirements and steps involved will facilitate a smooth onboarding experience, making FXNovus a reliable choice for traders.

Trading Platforms and Tools

FXNovus only offers a proprietary trading platform with advanced analytical tools to support manual and algorithmic traders.

The platform supports multi-device compatibility, letting traders transition between desktop, web, and mobile interfaces. In this section, we’ll detail the features of the FXNovus platform and explore how its analytical tools support informed trading decisions.

Proprietary Trading Platform Overview

FXNovus’s proprietary trading platform caters to manual and automated traders. The platform integrates real-time market quotes, fast order execution, and over 20 analytical tools to support informed trading decisions comprehensively.

The platform offers robust, unique features like one-click trading, customizable charting tools, and a user interface optimized for quick decision-making.

Expert Advisors and Algorithmic Trading

FXNovus provides an open platform for traders using algorithmic trading and Expert Advisors (EAs). However, it warns that while EAs are supported, the broker doesn’t manage nor monitor their performance.

Platform Availability – Desktop, Web, and Mobile

FXNovus’ platform seems to balance manual and automated trading. Equipped with real-time data feeds and lightning-fast order execution, the platform caters to modern traders.

FXNovus’ proprietary trading platform supports unique features. Traders can use one-click order placement, interactive charts, and a layout for quick and highly informed trading decisions.

Here are some key features you can expect:

• FXNovus offers conditional orders like stop-loss and take-profit.
• Users can customize layouts and transfer settings across devices.
• The platform provides in-depth account analytics, including win-loss ratios and trade duration.
• The mobile app features an offline mode for chart analysis.
• The mobile app includes real-time news, alerts, and complex trade execution.

FXNovus supports multi-screen setups on desktop and web for viewing multiple charts and data simultaneously.

Frequently Asked Questions

What type of trading platform does FXNovus offer?

FXNovus exclusively provides a proprietary trading platform designed for both manual and algorithmic traders, featuring advanced analytical tools and real-time market data.

What are the key features of the FXNovus platform?

Key features include one-click trading, customizable charting tools, conditional orders (like stop-loss and take-profit), in-depth account analytics, and multi-device compatibility across desktop, web, and mobile.

Can I use Expert Advisors (EAs) on the FXNovus platform?

Yes, FXNovus supports algorithmic trading and Expert Advisors, but it does not manage or monitor their performance, so traders are responsible for their use.

How does the FXNovus mobile app enhance trading?

The mobile app includes offline mode for chart analysis, real-time news feeds, customizable alerts, and the ability to execute complex trades, making it a robust tool for traders on the go.

Our Insights

FXNovus offers a comprehensive proprietary trading platform that caters to both manual and algorithmic traders, featuring a wide range of analytical tools and real-time data. With its multi-device compatibility and advanced functionalities, it provides a robust trading experience that supports informed decision-making and seamless transitions across platforms.

Market Instruments and CFDs

FXNovus’ product portfolio of 160 CFDs might seem limited, but it’s spread across different markets to let traders diversify their portfolios. Traders can benefit from competitive spreads, equal market access regardless of account type, and powerful trading platforms.

The section below will summarize the CFDs available from FXNovus and the key features like position sizes, tick values, and trading hours for each market.

Product Specifications

FXNovus’ asset classes each have unique trading conditions. The markets available include forex, commodities, indices, shares, and cryptocurrencies, with leverage options of up to 1:400 for forex pairs.

The platform lets traders benefit from competitive trading conditions like low margin requirements and customizable lot sizes.

• Leverage up to 1:400 for major forex pairs, 1:200 for commodities, and 1:5 for cryptocurrencies.
• Forex lot sizes start from 0.01 lots, while commodities like gold can be traded in 100 troy-ounce lots.
• Margin varies by asset, with 0.25% for forex, 0.50% for commodities, and 20% for cryptocurrencies.

CFDs on Forex: Major, Minor, and Exotic Currency Pairs

As with all other brokers, FXNovus has CFDs on forex major, minor, and exotic pairs.

Traders can explore different trading opportunities using the available account types and benefit from 1:400 leverage, especially combined with a $250 minimum deposit (which gives you a minimum of 100,000 USD).

CFD Trading for Commodities

FXNovus’s commodities include instruments across precious metals, agricultural commodities, and energies. Traders don’t need to take delivery of any underlying assets, and they can benefit from portfolio diversification, hedging, and more with FXNovus’ trading platform.

• Precious Metals:
• Gold (XAU/USD): Leverage up to 1:200, contract size 1 lot = 100 troy ounces
• Silver (XAG/USD): Leverage up to 1:200, contract size 1 lot = 5,000 troy ounces

• Energy Products:
• Crude Oil (WTI): Leverage up to 1:200, contract size 1 lot = 1,000 barrels
• Natural Gas (NG): Leverage up to 1:200, contract size 1 lot = 10,000 mmBtu

• Agricultural Commodities:
• Soybeans: Leverage up to 1:200, contract size 1 lot = 5,000 bushels
• Corn: Leverage up to 1:200, contract size 1 lot = 5,000 bushels

Share CFDs

FXNovus’ stocks are spread across the top exchanges globally, and traders can choose from US and EU stocks, including some of the following:

Index CFDs

As part of its 160+ CFDs, FXNovus also offers indices. Traders can easily speculate on the performance of economies and sectors using different strategies. Here, traders can easily capture market movements without sifting through individual stocks.

Here are FXNovus’ indices that can be traded and their trading conditions:

Frequently Asked Questions

What types of CFDs does FXNovus offer?

FXNovus offers 160 CFDs across various markets, including forex, commodities, indices, shares, and cryptocurrencies, allowing traders to diversify their portfolios.

What are the leverage options for different asset classes?

Leverage is up to 1:400 for forex pairs, 1:200 for commodities, and 1:5 for cryptocurrencies, enabling traders to maximize their trading potential.

What are the trading conditions for commodity CFDs?

For commodities, FXNovus offers leverage up to 1:200. Contract sizes vary, such as 1 lot of gold equaling 100 troy ounces and crude oil at 1,000 barrels.

Can I trade shares and indices on FXNovus?

Yes, FXNovus provides CFDs on a range of global stocks and indices, allowing traders to speculate on economic performance and market movements without dealing with individual stocks.

Our Verdict

FXNovus presents a diverse portfolio of 160 CFDs across multiple markets, complemented by competitive trading conditions and generous leverage options. While the range of instruments might appear limited, the breadth of markets enables effective portfolio diversification and strategic trading opportunities.

Cryptocurrency Trading

FXNovus offers popular cryptocurrencies that can be traded as CFDs. Crypto CFD trading is extremely beneficial because traders can benefit from price fluctuations without buying, storing, and holding the actual coin – which can be complex.

Leverage on crypto CFDs is limited because of the market volatility involved. However, a minimum deposit of $250 still gives traders enough capital to open large positions when trading crypto CFDs.

Frequently Asked Questions

What cryptocurrencies can I trade as CFDs on FXNovus?

FXNovus offers popular cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH) as CFDs.

What are the leverage options for crypto CFDs?

Leverage for all crypto CFDs at FXNovus is capped at 1:5 due to the high volatility of the market.

What is the minimum deposit required to start trading crypto CFDs?

The minimum deposit to start trading crypto CFDs at FXNovus is $250, allowing traders to open larger positions.

How do contract sizes work for crypto CFDs?

For crypto CFDs, the contract sizes are as follows: 1 lot equals 1 BTC for Bitcoin, 1 ETH for Ethereum, 1 LTC for Litecoin, 1,000 XRP for Ripple, and 1 BCH for Bitcoin Cash.

Our Insights

FXNovus provides a solid offering of popular cryptocurrencies for CFD trading, allowing traders to capitalize on price fluctuations without the complexities of actual coin ownership. With manageable leverage and a reasonable minimum deposit, it caters well to those looking to engage in the dynamic crypto market.

Spreads, Leverage, and Margin

FXNovus has competitive trading conditions across accounts. Most accounts have similar leverage and margin requirements but different spreads according to the account level. Here’s what you can expect:

These competitive spreads and high-leverage options give traders flexibility, while margin protection policies safeguard them from excessive losses.

Frequently Asked Questions

What are the spread ranges for different account types at FXNovus?

The spread ranges vary by account type: Classic and Silver accounts have a spread of 2.5 pips, Gold accounts have 1.8 pips, and Platinum accounts have 1.4 pips.

What leverage options are available for forex trading?

All account types offer leverage of up to 1:400 for forex trading, providing traders with substantial flexibility.

What is the margin requirement for each account type?

The margin requirement across all account types is 0.25%, ensuring that traders can maintain their positions with minimal capital.

How does FXNovus protect traders from excessive losses?

FXNovus implements margin protection policies to help safeguard traders from excessive losses, ensuring a more secure trading environment.

Our Insights

FXNovus offers competitive trading conditions with flexible spreads and high-leverage options across its account types. With consistent margin requirements and protective policies in place, it provides traders with a robust framework for managing risk while maximizing trading potential.

Fees, Spreads, and, Commissions

Like any forex and CFD Broker, FXNovus charges certain fees on trading and non-trading activities, and we’ve explored these to provide traders an idea of what they can expect.

Trading Fees

FXNovus trading and non-trading fees are transparent and extremely easy to understand. Most asset classes—forex, commodities, indices, metals, and cryptocurrencies—are commission-free. Spreads vary per the asset class, market conditions, and account type.

For example, shares have variable spreads based on the underlying market. Swap fees apply for positions held overnight, and there are inactivity fees for accounts that have become and remain dormant after a minimum of one month.

CFD Expiries and rollover fees

Based on research, FXNovus doesn’t roll over CFD positions past the expiry dates. CFDs on indices, commodities, and shares have fixed expiration dates, and any open positions will automatically close at the end of these contracts.

Traders can avoid unexpected rollover costs but should note that swap fees (overnight charges) still apply for positions held overnight.

Spread Types and Their Variability

FXNovus primarily offers variable spreads across all asset classes, which fluctuate based on market conditions. For example, VIP accounts typically have the tightest spreads from 0.9 pips, while Classic and Silver accounts start from 2.5 pips. The spread reflects real-time market liquidity and volatility.

• Classic and Silver spreads: From 2.5 pips, ideal for beginner to intermediate traders.
• Gold spreads: From 1.8 pips, designed for more experienced traders.
• Platinum spreads: From 1.4 pips, offering tighter trading conditions.
• VIP spreads: From 0.9 pips for high-volume traders seeking the best conditions.

Swap and Overnight Rollover Fees

Overnight fees and swaps, whether charged or credited, will depend on the asset class and direction of the trade. Moreover, Swap fees are determined by the interest rate differentials between forex pairs, which can also be applied to commodities, indices, and other instruments.

Commission Fees

All account types, including Classic, Silver, Gold, Platinum, and VIP accounts, are commission-free. The trading costs are spread-based, and traders can choose an account type to match their ideal trading conditions and strategies.

Swap Fees for CFD positions held overnight

FXNovus has swap fees that apply (either credited or debited) on different asset classes, depending on a trader’s position (Buy or Sell). FXNovus’ swap fees ensure traders are charged according to real market conditions when holding positions overnight.

Non-Trading Fees

FXNovus applies non-trading fees like account maintenance, withdrawal, and inactivity fees.

Account Maintenance

FXNovus charges a $10 monthly maintenance fee across all accounts. If an account remains inactive for more than 30 days, the inactivity fee of $100 is charged in addition to the maintenance fee.

Inactivity Fees

Inactivity fees apply after 30 days of no trading activity. These fees escalate the longer the account remains inactive:

• $100 per month after 30 days.
• $250 per month after 60 days.
• $500 per month after 180 days.

Traders can counter these fees by depositing, trading, transferring funds, withdrawing, or performing other actions indicating account activity.

Withdrawal Fees

FXNovus does not charge withdrawal fees for credit/debit cards or e-wallets. However, a $30 fee applies for wire transfers.

Deposit Fees

FXNovus offers fee-free deposits but third-party payment provider fees could still apply.

Frequently Asked Questions

What trading fees can I expect with FXNovus?

FXNovus offers commission-free trading on most asset classes, with variable spreads depending on the asset type and account level. Swap fees apply for overnight positions.

Are there any inactivity fees?

Yes, if an account remains inactive for more than 30 days, a $100 monthly inactivity fee applies, increasing to $250 after 60 days and $500 after 180 days.

What are the withdrawal fees at FXNovus?

FXNovus does not charge withdrawal fees for credit/debit cards or e-wallets, but a $30 fee applies for wire transfers.

Are there any non-trading fees?

FXNovus charges a $10 monthly account maintenance fee, and additional fees may apply for inactivity and wire transfers.

Our Insights

FXNovus maintains transparency regarding its fee structure, offering competitive trading conditions with no commissions on trades. While inactivity and maintenance fees exist, the range of fee-free withdrawal options enhances its appeal for traders looking for a cost-effective trading environment.

Deposits and Withdrawals

Margin requirements determine the deposit needed to open positions, varying by asset class and leverage. Higher leverage reduces margin needs but increases risk. Typical requirements include:

• Forex: From 0.25% (e.g., $25 for a $10,000 position).
• Commodities: 0.5% margin, leveraging up to 1:200.
• Cryptocurrencies: Capped at 1:5 leverage, resulting in around 20% margin.

Payment Methods:

FXNovus offers a variety of payment options for funding accounts, including credit/debit cards and bank transfers. It also supports region-specific Alternative Payment Methods (APMs) for faster transactions.

Withdrawal Process:

To withdraw funds from FXNovus:

• Log into your account and navigate to the withdrawal section.
• Select the same method as your most recent deposit.
• Enter the withdrawal amount, keeping in mind you may need to withdraw the exact deposited amount.
• Once accepted, FXNovus will process the request, typically within a few days.

Funds are transferred securely to the original account.

Processing Times:

• Credit/Debit Card: Instant deposits; 1-3 business days for withdrawals.
• Bank Transfer: 1-3 business days for deposits; 1-5 business days for withdrawals.
• APMs: Vary by region; typically 24 hours for both deposits and withdrawals.

Refunds:

Refunds are only processed for specific issues (e.g., mistaken deposits) and follow the same method as the original deposit to comply with anti-fraud policies.

Frequently Asked Questions

What are the margin requirements for different asset classes?

Margin requirements vary by asset class. For forex, the requirement starts from 0.25%, meaning you would need $25 to open a $10,000 position. Commodities require a margin of 0.5% with leverage up to 1:200. For cryptocurrencies, the leverage is capped at 1:5, resulting in a margin requirement of about 20%.

What payment methods does FXNovus accept?

FXNovus offers a variety of payment options, including credit and debit cards, bank transfers, and region-specific Alternative Payment Methods (APMs) that facilitate faster transactions.

How do I withdraw funds from my FXNovus account?

To withdraw funds, log into your account and navigate to the withdrawal section. Select the same method used for your most recent deposit, enter the withdrawal amount, and submit your request. The processing typically takes a few days.

What are the processing times for deposits and withdrawals?

For credit and debit card deposits, processing is instant, while withdrawals take 1-3 business days. Bank transfers take 1-3 business days for deposits and 1-5 business days for withdrawals. APMs generally process transactions within 24 hours for both deposits and withdrawals.

Our Insights

FXNovus provides a straightforward deposit and withdrawal process with multiple payment options and clear margin requirements. Users can expect secure transactions but should be mindful of processing times and refund policies to effectively manage their funds.

Education and Research

FXNovus offers limited educational materials that require account registration to access fully. While there are no subscription fees, traders must have a verified live or demo account.

The platform provides video tutorials and online courses covering topics like platform navigation, trading strategies, and risk management to enhance traders’ skills. Additionally, e-books are available, simplifying trading strategies and market analysis for various experience levels, including basics, advanced technical analysis, and trading psychology.

Frequently Asked Questions

Are FXNovus educational materials free?

Yes, FXNovus offers educational materials without subscription fees, but full access requires registering and verifying a live or demo account.

What types of educational resources does FXNovus provide?

FXNovus provides video tutorials, online courses, and e-books covering platform navigation, trading strategies, risk management, and trading psychology.

Can beginners benefit from FXNovus educational materials?

Absolutely. The resources cater to all experience levels, including beginners who can learn fundamental concepts and advanced strategies.

Do I need to pay for courses or tutorials?

No, there are no fees for the courses or tutorials, but you must have an account to access the complete range of materials.

Our Insights

FXNovus offers valuable educational resources that enhance trading skills, but full access requires account registration, which may limit some traders.

Customer Support

FXNovus provides robust customer support available 24/7, ensuring traders receive quick responses during the financial market’s operating hours. Support methods include live chat for instant assistance, email support with responses within 24 hours, and global phone support, with priority access for Gold and VIP accounts.

Gold and VIP clients also receive personalized account management, while all traders can access educational resources like tutorials and eBooks.

Frequently Asked Questions

What customer support options does FXNovus offer?

FXNovus provides live chat, email, phone support, and personalized account management for Gold and VIP accounts.

Is customer support available 24/7?

Yes, FXNovus customer support is available 24/7 for all methods.

How quickly can I expect a response from email support?

Email support typically responds within 24 hours.

Do Gold and VIP accounts receive any additional support?

Yes, Gold and VIP account holders receive personalized account management and priority access to support.

Our Insights

FXNovus offers comprehensive 24/7 customer support, ensuring traders have access to timely assistance and valuable educational resources.

Customer Reviews

🥇 Exceptional Support!

I’ve been trading with FXNovus for over a year now, and I can’t express how impressed I am with their customer support. The live chat feature is super responsive, and my queries are always addressed promptly. They truly make me feel valued as a trader! – James

🥈 User-Friendly Platform

FXNovus has an intuitive trading platform that makes trading seamless. I love the one-click trading feature and the variety of analytical tools available. It’s perfect for both beginners and experienced traders. I’ve seen great results since I started! – Mark

🥉 Great Educational Resources

I was a novice trader when I joined FXNovus, but their educational materials have been a game-changer. The video tutorials and eBooks are informative and easy to understand. I’ve significantly improved my trading skills and strategies thanks to their resources! – Sofia

Pros and Cons

FXNovus Pros (What We Like)

• FXNovus offers leverage ratios of up to 1:400 on forex pairs. This is higher than what many brokers operating in more regulated regions offer
• The FXNovus platform has integrated analytics and multi-device compatibility, which is ideal for traders who like everything in one place.
• FXNovus ensures you don’t lose more than your deposit by applying negative balance protection.
• No commission on trades; only the spreads are charged.
• Unlike brokers who have hidden fees for certain instruments, FXNovus has a clear breakdown of spreads, overnight fees, and other costs.
• FXNovus doesn’t charge for withdrawals using credit or debit cards.
• FXNovus lets you trade crypto CFDs 24/7 across accounts.
• FXNovus supports cryptocurrency trading with leverage of up to 1:5 – which is significant position potential considering the $250 minimum deposit on Classic (much higher on other accounts).
• You know exactly what you get—five transparent account tiers with varying spreads and features per level.

FXNovus Cons (What Needs Improving)

• FXNovus doesn’t support MetaTrader or any other third-party platforms that global traders might be familiar with.
• FXNovus doesn’t offer social or copy trading solutions or features.
• Spreads from 2.5 pips are far from competitive compared to other brokers.
• FXNovus charges up to $500 for accounts that stay inactive for six months.
• FXNovus supports cards and bank transfers, but it lacks more flexible payment options like PayPal or Skrill.

In Conclusion

FXNovus is a trusted, no-nonsense broker that seems to get the basics right. FXNovus gives traders a no-frills, intuitive experience, especially those who appreciate high leverage and an easy-to-use platform.

The brokers’ proprietary setup is feature-rich and functional, especially for both manual and automated strategies and traders who thrive in these environments. The broker can be great if you want simplicity and if you want to trade forex or CFDs using proprietary software, and account tiers that are closely linked to one another (except for spreads and minimum deposit requirements).

If you want tighter spreads, extensive markets, more tools and education, and advanced and flexible solutions, you might find other brokers better suited to your needs.

Resources:

• About FXNovus
• Trading Accounts 
• Overview of FXNovus

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