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TraderNovo Review – is it scam or safe?

TraderNovo Review  – Is www.tradernovo.com scam or safe forex broker?

RATING: 2 / 1 REVIEWS TraderNovo
TraderNovo is an offshore broker. Your money is not safe.

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Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
ECN $100 0.01 lot 1:400 From 0.8 pips
ECN Pro $2500 0.01 lot 1:400 From 0.8 pips
ECN VIP $10 000 0.01 lot 1:400 From 0.8 pips

 

TraderNovo offers three types of live trading accounts, all of them ECN, or so the broker claims. There is also a free demo account active for 30 days. We could not find information whether the broker charges commissions, but most likely it does not.

 

TraderNovo has a fairly extensive trading portfolio of forex pairs, CFDs on stocks, indices, metals, oil and agricultural products. The broker also planning to start offering trading in binary options.

 

TraderNovo also provides VPS hosting under certain conditions and has a proposition for money managers.

 

 

The Company. Security of Funds

 

Company Country Regulation
TraderNovo Holdings LTD Marshall Islands No

 

TraderNovo is a brand of the company TraderNovo Holdings LTD. It is based in the Marshall Islands – an offshore zone preferred by a lot of brokers. The location and the fact it is not regulated, should be a warning. Many of the offshore unregulated brokers are nothing but a scam who disappear with their clients' money, never to be heard of again.

 

We are not implying in any way TraderNovo is one of those brokers, but it is always advisable to do business with properly regulated and well known brokers. For example companies regulated by UK's FCA and the Australian Securities and Investment Commission (ASIC).

 

TraderNovo says it does not accept clients from the USA, Sri Lanka and Pakistan.

 

 

Trading Platforms

 

Like most forex brokers, TraderNovo offers the popular MetaTrader 4 platform – as a desktop application, its web version and for mobile devices. The planned binary options trading will also be happening through MT4.

 

MT4 enjoys eternal popularity among both brokers and traders. It is stable and reliable, has many functions, offers API connectivity, supports PAMM and MAMM functionality and has a wide selection of technical analysis and charting tools. It is also user-friendly and supports Expert Advisors and automated trading. The platform has been on the market for over 10 years and only recently started some of its popularity to its successor MetaTrader 5.

 

 

Methods of payment

 

TraderNovo accepts payments through bank transfers and credit cards. Additionally, the broker provides the option to make a deposit through the e-wallet systems WebMoney, Qiwi Wallet, TrustPay and Giro Pay.

 

 

Conclusion

 

First and foremost, TraderNovo is an unregulated offshore forex broker and this must be kept in mind when choosing it. Chances of such brokers being a scam are fairly high.

 

TraderNovo's trading conditions are comparable to those of larger and regulated brokers, so there really is no reason to choose it instead of a properly registered and supervised company.

 

Pros Cons
MT4 Unregulated
Tight spreads  

 

 

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Traders` reviews for TraderNovo

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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i have been scumed

I have been scumed by tradernovo, I'am on a search to find you and stop your actions,justice will come to you soon to stop this thieft. Each one of you associates will be found and prosecuted and this company shut down.i promise you.

Martin Matsiko 08/22/2017
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