Novaoptiontrade45 review – 5 things you should know about

Beware! Novaoptiontrade45 is an offshore broker! Your investment may be at risk.



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Novaoptiontrade45 is broker that advertises trading in forex, stocks and cryptocurrencies. They have eight different types of accounts, or plans, starting from $200 to $900 minimum deposit, all of the offering a 10% referral commission.

The broker also promises a 10 times return on investment (ROI) for each of these 8 plans – something no one can guarantee. Moreover, this is not all – on the home page we read “Get your profit up to 100% in 60 seconds in your account” and “When starting cooperation with us you have a 100% guarantee that you will not lose your funds, but you can only gain.” Such empty claims and outright false statements immediately raise a big red flag.

The registration form asked us for our names and email address, and to choose from Trade, Mining or Forex. After registering successfully, we were taken directly to the trading dashboard and no confirmation email was sent – something every website does when you provide them with your email address. Actually, the entire site looks very incompetent – it is poorly designed and is full of spelling mistakes and broken or non-working links.

Novaoptiontrade45 Regulation and safety of funds

When we continued our investigation of this broker it turned out the empty promises were not the only false or misleading statements. Novaoptiontrade45 claims it is regulated by the Commodity Futures Trading Commission (CFTC) – the US watchdog organization, as well as by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC). Of course, this is very easily checked and as expected, the broker was not present in these organization databases.

Novaoptiontrade45 says it is based in New York, but in their Contact page the address is simply “Ohio, USA”, while the phone number is with a UK prefix. Then in the About page they say “Novaoptiontrade45 LLC is a registered investment firm based in United Kingdom.” In the space of just a few paragraphs there are so many inconsistencies and false claims this alone should be enough to convince anybody to stay away from this broker. We actually decided to check the UK’s regulator, the Financial Conduct Authority (FCA) – Novaoptiontrade45 is not registered there also.

There is another entity mentioned in the website, CryptoMinner LTD, which also looked anonymous – no information can be found about it anywhere. The Terms of Service is a few paragraphs that do not shed any more light on the broker. They talk about an agreement, but there is no such thing – there is no legal entity with which investors are entering into an agreement.

Regulated brokers have to abide by strict rules that watchdog agencies, such as the FCA and CySEC impose on their licensees. Among these are Minimum Capital Requirements of €730 000 to guarantee good financial standing, Client Account Segregation (clients’ money is kept separate from the broker’s operating funds), Negative Balance Protection, which ensures that one may not lose more than the initially invested funds and Compensation Schemes providing additional guarantee to clients’ funds up to a certain amount (85,000 GBP in the UK and 20,000 EUR in the EU).

Novaoptiontrade45, however, is not licensed or regulated by anyone, so claims of security and safety of funds are completely unfounded. Actually, we would go further and warn our readers that their money will not be safe with this broker since it is an anonymous entity.

Novaoptiontrade45 Trading Software

This broker does not provide any trading platform, although the website advertises “cross-platform trading” which can be accessed from various devices such as phones, tablets and PCs. The trading platform featured a ticker tape and a chart provided by a third-party service, but this is as far as its features go.

Respectable forex brokers provide access to established trading software for their traders, such as the MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms. MT4 is the world’s leading platform, preferred by more than 80% of users. It features an intuitive, user-friendly interface, advanced charting and analysis tools, as well as copy- and auto-trading options. It is customizable using the proprietary MQL4 programming language, with which one can create different trading strategies. Its successor, MT5, has some advantages – it allows traders to execute trades on different financial markets through a single account and there is a hedging option. Both platforms are available as desktop and mobile (iOS and Android) application as well.

Novaoptiontrade45 Trading Conditions

Since there was no trading platform to download and test, or check in a web view, there is no way for us to know the trading conditions the broker offers. Their website does not provide any information in that regard also. Regulated forex brokers usually offer 1-1.5 pips spread for the most traded currency pairs – anything higher than that would mean traders would not make much money on their investment.

Novaoptiontrade45 says they use advance investment techniques, such as financial leverage, which guarantees huge profits. With high leverage, although there is a potential for profits, there is also a big chance that traders will suffer great losses, often much bigger than their initial investment. That is why regulatory authorities in Europe and the US impose a leverage cap for retail brokers of 1:30 and 1:50, respectively.

Novaoptiontrade45 Deposit/Withdrawal Methods And Fees

The brokers website presents various credit card, as well as PayPal, logos and claims to provide different payment options. This is again only for show, however, because in the Deposit section of the trading dashboard there is only Bitcoin. The latter is a preferred method of con artists – while with standard payment methods one can file for a chargeback with their financial institution, bitcoin is completely untraceable and anonymous.

Regarding the minimum deposit information is also inconsistent – as we saw above the Starter plan asks for $200, but on another page the broker says the minimum to invest into forex or cryptocurrency is $300, while for stocks it is $1,000. There is nothing about fees and commissions – in the absence of any legal documents on their website, we believe Novaoptiontrade45 is a scam brokerage which can charge any fees they want, and in general your funds are not safe with them.

How does the scam work?

Here we will outline the most common scamming scenario. The first step is to capture the users’ attention with ads promising fast money. When they click on such an ad, they are redirected to a website that would ask to provide email address and phone number. This personal information is then used by the scam brokers who will start calling and asking to invest with them. The initial deposit is usually around $250 from which these brokers will make a fat commission.

After that, users are transferred to senior brokers. These are expert con-artists who will sweet-talk them into putting even more money. When the traders decide to get out, however, it turns out it is not that simple. The scammers will talk them into postponing their withdrawals or will draw out various reasons to deny the request. All of this is with the objective to miss the limited time period for filing a chargeback with their bank and get their money back.

We should note that VISA and MasterCard have recently taken measures to combat online scams and are classifying all forex transactions as high risk. Furthermore, they have increased the period for filing a chargeback from 6 months to 540 days.

What to do when scammed?

In the event you become a victim of such a scam there are some things you should know. If you used a major credit card to fund the account you should immediately file for a chargeback with your bank or credit card provider. In case you supplied sensitive financial information to the scammers, such as account details and passwords, you should cancel your credit card or change your pass.

If you used bitcoin or bank wire, however, chances of recovering your funds are slim. Do not get hooked by any “recovery agents”, who prey on scam victims, using their hopes of retrieving their money. These are just another type of scammers who will ask you for an upfront fee in order to get your money back, but once you pay them, you will not hear from them again.

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