Nuvo Markets Review – Truth Behind NuvoMarkets.Com
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Nuvo Markets has denied users a lot of necessary information that is good to keep in mind before investing. The biggest problem is that they are not a licensed broker, which means there is no regulatory body that oversees them.
In addition, Nuvo Markets has a large offer for trading, which includes currency pairs, indices, commodities, and cryptocurrencies, but the conditions under which they are traded are not very favorable to clients.
One of the issues is that registration is possible, but only after someone from the brokerage house contacts you. This means that fraudsters themselves evaluate and choose those clients who will surely invest money. All this means only one thing, you should bypass this scam broker, and if you still doubt it, read our Nuvo Markets review to the end.
Is Nuvo Markets a Legit Broker? Safety and Regulation
The webpage does offer information, but it is either false or virtually worthless. Nuvo Markets says it belongs to International Market Connect LLC. It’s nice that Nuvo Markets informs the users who own the website, but the problem is that the company claims it is registered in St. Vincent and the Grenadines.
SVG is a haven for scam brokers because there is no regulatory body in charge of the Forex market, so brokers registered there can do whatever they want. This is a great danger for the clients of those brokers, and for Nuvo Markets, because the funds and personal data of users are at risk of misuse. However, the broker is not registered even in the SVG.
Supported Trading Platform at Nuvo Markets
We cannot judge whether Nuvo Markets actually owns a trading platform or not. On the website, there is advertising material for the platform it offers, based on the pictures we estimate that it is MetaTrader 5.
The problem is that most scam brokers present themselves as offering revolutionary trading platforms, such as MT5, but in reality either they don’t have a platform, or it’s so bad that it’s unusable.
It also often happens that fraudulent brokers manipulate the platform so that it seems to traders that their money is being traded while it is in the hands of fraudsters from the moment of deposit.
Be that as it may, even if Nuvo Markets offers MT5, which is one of the best platforms, you will definitely be ripped off and have no one to complain about because of the sites the company claims to be registered on.
Deposit and Withdrawal Options
Nuvo Markets says credit cards and bank transfers are accepted payment methods. If you deposited with a credit card, request a refund immediately. The minimum deposit that NuvoMarkets requires is $300, which is definitely too much, considering that you will have a hard time getting your money back.
There are no details about the withdrawal on the website. Also, the broker does not list the fees that are potentially involved in trading, which is not surprising as they are usually part of the surprise when investors try to make a withdrawal request.
How the Fraud Is Conducted
There are a number of manipulations, that is, information on the website that is false, and presents the broker in a much better light. When such a broker gets hold of clients who make a deposit, they can do whatever they want with their money.
The only advice we can give you is that if you made the payment via Visa or Mastercard, immediately request the cancellation of the payment, because the broker will certainly not allow you a refund, and payments made via these cards allow you to request a chargeback up to 540 days from the moment of payment.
Nuvo Markets Summary
Nuvo Markets is one of those scam brokers you don’t want to deal with. In addition to the lack of regulation and license, the broker has deprived users of a lot of necessary information.
We hope that we have warned you in time and that you are not one of the victims of the fraud carried out by Nuvo Markets. If so, report the broker to your local regulatory body so they can issue a warning and try to recover your funds.
Is Nuvo Markets a Regulated Broker?
Nuvo Markets is not a regulated broker.
What Is the Minimum Deposit at Nuvo Markets?
The minimum deposit set by Nuvo Markets is $300.
What Account Types are Available at Nuvo Markets?
The company doesn’t provide this information on their website.