Headquartered in Saint Vincent and the Grenadines, Novox is an online financial services provider that ensures hassle-free trading of multiple financial instruments across different asset classes, forex, commodities, futures, cryptocurrencies, indices, and shares, using the MT4 and MT5 trading platforms. They provide traders with a good selection of educational resources, useful trading tools, and the services of a reliable client support team. Other essential features of the broker include various account types, different payment methods, leverage of up to 1:400, low spreads from 0.1 pips, zero commissions, no hidden fees, lightning-fast trade execution, and more. The minimum deposit required to start trading is $20.
Novox Review Introduction
In this Novox review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers, including Novox.
Novox Platforms & Tools
The broker’s clients can buy and sell the various available financial assets using the popular MT4 and MT5 trading platforms. These are advanced trading platforms that MetaQuotes, a Russian software company, developed. They are replete with advanced trading tools and extended trading capabilities; little wonder they are the choicest trading platforms in the industry. Nevertheless, beginners and experienced traders will find them helpful owing to their easy-to-use interfaces and complex trading functionalities. The MT4 and MT5 trading platforms are available as desktop applications for Windows and Mac computers, WebTrader that runs directly on modern web browsers, and a mobile app that is compatible with smartphone devices running on Android and iOS devices.
The broker provides traders with some standalone trading tools to make up for those that are lacking in the available trading platforms. These useful trading tools include social trading tools and an economic calendar that shows the schedule of future market events and their expected impacts on the financial markets.
Novox Research & Education
Novox provides traders with a good selection of learning resources to help traders make informed trading decisions. The educational resources include trading guides, news, and an FAQ section that answers some of the clients’ most common questions.
Novox Trading Accounts
There are various live trading account options on the broker’s website. The account types and their corresponding minimum deposit requirements are as follows: Cent ($20), Standard ($50), Xero ($300), and Swap-Free ($1,000) accounts.
Novox Account Funding
At Novox, all account deposit and withdrawal requests are processed using any of the following payment methods:
- Bank wire transfers
- Credit/Debit cards: Visa, Mastercard, and Maestro
- Electronic payment processors, such as Neteller, Skrill, and PayPal
Novox Customer Service
All clients’ general, technical, and account-based inquiries are sent to a knowledgeable client support team who are always available and can be reached via any of the following contact channels: telephone, email, Live Chat, and social media.
Novox Capital Limited (www.novoxfx.eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 224/14.
Novox Review Summary
Founded in 2014, Novox is a multi-asset brokerage firm that operates from Saint Vincent and the Grenadines. They allow traders to buy and sell various financial assets using the MT4 and MT5 trading platforms, which are available in desktop, web, and mobile versions. In addition, there are various learning materials, useful trading tools, and a client support team to assist traders. The minimum deposit required to start trading is $20. In Europe, the CySEc regulates the broker.
It is worth mentioning that some of the trading products and services in this Novox review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the Novox broker website, which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.