Many people have invested in Novatechfx company. And after extensive research, it has been observed that some people can withdraw their money because the entire system is a likewise pyramid scheme.
Thus, Novatech FX is a broker firm that offers trading services on both forex and crypto through its own trading network. And the good thing is that any user can join this company through responsory. Besides, the company has three plans for people to join.
- Allow Novatech to trade for you, which means PAMM
- Trade by yourself
- You can affiliate and recruit other persons on your own behalf.
Recruit means the company functions as MLM, but this is not compulsory. In this way, this company doesn’t resemble t pyramid system. Thus, many people who are connected with this plan claim the 3% ROI every week. On the other hand, if you want to invest in this company regularly for five months, your amount will be doubled. Therefore, people consider it a lucrative deal.
- Owners of Novatech FX
- There are three dominant people behind this system.
- CEO Cynthia Petion
- COO Eddy Petion
- CTO Ricardo Roy
You can easily find their data on a required website. But their history is not available on the website which can confuse many people. For example,
Eddy worked in another firm, and now it is running a new company known as Novatech FX. It doesn’t look genuine that develop a new company with the same scheme.
Where is Novatech Located?
The novatechfx company is located in Granada and St. Vincent. But the company doesn’t have a talented sound regarding trustworthiness. Besides, the company has two more locations in Florida and Estonia.
What About MLM Regarding Novatech?
The company functions MLM because it has many bundles to join. But MLM is not transparent, even if it is an MLM firm.
Is it a Scam or Legit?
Basically, the Novatech company is not listed in SEC, and the creator of this company went with the initial registration of the company. It is also noticeable that the creators of Novatech company were also working in the scam company.
Thus, because of these unbiased reviews, you should stay away from this company. Besides, the company is not registered and which means the company has no existence.
Similarly, for people who have invested in this company, their funds are not safe, and no surety for anything here. Even when some people drop out of their funds, they were satisfied with this step. The company is based on a pyramid scheme in which it will run for a few years, and after some time, it smashes. Check out Trust Pilot Novatechfx Reviews for your reference:
Information from the Novatech website
However, Novatech.com was listed in 2019, and they have another domain to use, and it was nvatechfx.io that was transferred to .com. However, there is no doubt about changing signs, but the strange is they changed their domain after a short time. And this is not a common sign of good business. But, still, the generated traffic on this website is much more impressive. It is because the ROI is much more tempting for people to attract them.
Red Flags for Novatech Company
There are some doubted things that you must know before investing here.
Check people in the history and ensure that the company has regulatory needs.
- Shady History
The founder of Novatech company has a shady history because of involvement in the scam scheme
- Change domain name
However, it is not a sign to change the domain name from io to .com, but the suspected thing is its overall change.
- Login issues
Many people experience novatechfx.com login problems because they were unable to log in, and thus, they couldn’t withdraw their funds. And the same issues were raised in their previous company where this founder was working. The main reason behind this issue is that the firm keeps all funds.
- No Trading
They have no proof of trading, and this is a big sign of fraud, thus the company considers a Ponzi scheme.
- No more SEC registration
Novatech FX is not enrolled with the SEC because they have only initial company registration and no other documents.
How Can I Get my Money Back from Novatechfx?
While withdrawing your fund from Novatech company, there are specific policies needed to sustain. Besides, all users claim refunds, they need company authorization.
Many people have different queries regarding legit or scams about the Novatech company because many fraud companies exist. You will be relaxing that Novatech company is legit trading for forex and crypto platforms. Thus, the company has no more threat because it is at the MLM level.
Now the request will be in process, and there are different authorization numbers to continue the comprehensive process. For this process, you need an RMA number. Returning unused stuff is straightforward, and it will take only 30 days. Besides, you can read about the refund policy and follow all steps. First, visit the support center and read all instructions before contacting them.
How to Earn Money from NovatechFX?
However, it is hard to invest hard-earned money in the right company. You can participate as an individual but start from your region. But if you allow Novatech company to trade for you, they can utilize your fund at any place where they are convenient.
Well, the three founder claims that they will give you approximately 3.25% per week. When users become experienced, and they trust the company, they add more funds to get back more money.
Besides, the creators claim no issue in withdrawing. But the major problem is the involvement of cryptocurrency. People buy a membership through cryptocurrency. Thus, they pull back in crypto and finally convert it into local currency.
Alternative Ways to Pull out Earn Money through Novatech
There are various ways to earn money through this system, but all they associate with MLM design. For instance, every user can make sub-accounts of close people, which means he can recruit them on his own behalf.
Fine, you know what type of creators are running this entire setup. If you are willing to invest here, get compensation plans from the Novatech website. So, the big drawback of the company is the use of cryptocurrencies, which indicates that one day it can go up and lose the other day.