Read our NovoBrokers review to see if we recommend this broker for trading. Just to clear doubts, this is a novobrokers.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So NovoBrokers is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about NovoBrokers in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
NovoBrokers Review Conclusions
Making the NovoBrokers review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our NovoBrokers review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Scam!
the first transfer goes through Traderschool Academy not for Novobrokers, what looks profissional and safe!
but after they just call you for asking more money and impossible to withdrawal!
Scam
First £250 goes to buying a tutorial video and puts 250 into your trading account, you are then given a broker to advise you and asked to deposit more money. You are then given a senior advisor who basically nags you in to depositing more money but it’s never enough and advises you that you should consider taking out a loan with them because it will be paid off in three months and you really need to join the gold trading team for more profit. My account had $3000 in it till the moment I asked to withdraw it, then suddenly within an hour it was down to £524 because ” you must have been hacked, who have you given your password to” Bullshit. They then ask for more money to rectify the problem.
Scam: they use a reputable local celebrity to lure you to their site. That proved to be fake. They call you and establish a broker relationship. You start out with a $300 investment. Then they want more but it’s through shakepay. I discovered they were fraudulent and tried to get my $300 out. The message, with spelling errors, said I already tried taking money. One day while talking to Chris Belov I could hear a guitar playing in the background. They call from many phone numbers almost daily or email. Completely unprofessional criminals trying to screw people out of their hard earned money. Every one of them sounds Russian.
They are professional alright, preying in gullible people and their raking it in. I’m lucky in that I LOST only my initial $280US . An agent from ‘Coins Marketing Service’s E-mailed me to say my registration application wasn’t succsessful but took my money anyway.I changed my mind and requested a refund. which never came. A call from Novobrokers stated I was on the marketing platform and lost all my money in the crash ..When I demanded return of funds they said they never heard of ‘ Coins Marketing Service’s. I’m still fighting now for TWO months, but without success.
I have made an investment with Novobrokers so how do I get my money back could you assist me in getting my money back or if you could guide me in the right direction?
Ryszard Frysztak . Sorry , misleading comment made about Coins Marketing Service’s, They are not involved. Parted with US $280 on the spot. After readingTerms & Conditions , I refused to abide and requested refund.
They are NOT co-operating . Fighting now for 3 months to get it back.
WARNING: Never open ANY DESK. It’s- DANGEROUS
It gives SCAMMERS access to your private life and take your hard earned cash.
………….YOU HAVE BEEN WARNED…….
Novobrokers.com ou .io there are a bunch of thieves! Robert,chris belov, antonio, m.kovach…and more.
they just want more transfers, they even make trades in which they are negatives and they turn into positives to convince you. impossible to withdrawal a dolar.
stay away, novobrokers its a bullshite.
It’s now 12mths to the day and my last throw if the dice. to get my deposit back.($280)USD. I Didn’t sign to T/C and wanted a refund of my deposit. Sent dozens of emails pleading for return of my deposit.
WARNING….
NOVOBROKERS – are a bunch of DISHONEST ARSEHOLES. stay away from them.
(1/5)