Are you looking for a trusted broker? Than TraderNovo Forex broker mign not be the best choice for you. There are some things behind this broker that will make you think twice before you decide to sign up with it. Want to know more? Read our TraderNovo Scam Review!
TraderNovo Scam at a Glance
TraderNovo is a misleading brokerage firm, which pretends to offer stunning trading opportunities. There is a considerable gap between “guaranteed” opportunities and the actual conditions. We have arranged the list of major pitfalls that you should pay attention to:
- Absence of regulation or any kind of license
- Strong emphasizing on being ECN, although it has nothing do with reality
- Scarce information about the company
- Poor choice of trading accounts
- Beginners are not welcomed
We will discuss every sin in detail further. Let’s begin!
TraderNovo – Why not trust it?
TraderNovo is a scam broker not just because we decided to call it so. TraderNovo simply has no supporting evidence to ensure safety of your investments – it is not regulated by any authorised institution. Additionally, TraderNovo is reluctant to build close relationships with customers based on mutual trust. This is why you will unlikely find any significant info about the company activity or positive clients’ feedback.
Is Trader Novo ECN broker?
When you enter TraderNovo website you will see “ECN” in every corner. This is a common practice among frauds. TraderNovo Forex broker claims to have partnerships with reputable liquidity providers such as Deutsche Bank, Barclays and others. We might be sceptical, although it is pretty self-explanatory that these international banks with the world’s brand names will never deal with unregulated brokerages.
Another thing to consider is the spreads that TraderNovo offers. This broker claims to supply Forex traders with spreads as low as 0.1. This contradicts the trading conditions described on the website:
Moreover, TraderNovo does not state clearly whether spreads are fixed or variable. Therefore, we may conclude that TraderNovo is a false ECN broker. Better sign up with professional ECNs such as Alpari or FXTM.
TraderNovo reviews: Trading Accounts and Platforms
TraderNovo offers just 3 account packages:
- TraderNovo ECN
- TraderNovo ECN PRO
- TraderNovo ECN VIP
Each of the trading accounts allows you to trade FX, CFDs, commodities, stocks and indices. From the technical prospect, it is possible to trade via MetaTrader 4 platform. Mobile trading is included as well. Unfortunately, binary options trading is not available.
Even though TraderNovo provides some features of market analysis, they present not so big value for newbies. TraderNovo has not provided novices with solid trading guides or any educational facilities.
The only way to learn trading at TraderNovo is by utilizing the demo account.
TraderNovo: Should you risk your money?
Our final word is that investing in TraderNovo scam would be unwise. The drawbacks of this broker definitely outweigh a small number of advantages. There can be no confidence in TraderNovo offering advanced trading. Consider the risks, do not sign up.