FXNovus is a forex broker that was registered in South Africa on April 6, 2020. It primarily offers financial trading services in forex, commodities, indices, stocks, cryptocurrencies, and metals, with its headquarters address not disclosed. The broker does not provide services to the United States, Canada, Australia, Iran, North Korea, Myanmar, Israel, and European Union member states. It also reserves the right to refuse registrations from other regions, such as jurisdictions identified as high risk by the Financial Action Task Force (FATF) or sanctioned countries.
Corporate Registration and Regulatory Status:
FXNovus's registered entity in South Africa is FXNOVUS (PTY) LTD, with the registration address at Unit 16B7, 159 Rivonia Rd, Sinosteel Plaza, Morningside Ext, Sandton, 2146. The registration number is 2020/183344/07. The broker is authorized and regulated by the South African Financial Sector Conduct Authority (FSCA), with the authorization date being April 9, 2021, and FSP number 50963. Additionally, FXNOVUS (PTY) LTD is part of the same corporate group as Modmount Services Limited, Newblock Trading Limited, and Peaksight Ltd. According to Whois, the broker's official website domain was registered on October 20, 2021.
Account Opening:
To open an account with FXNovus, visit the broker's official website and click on “Open account” or “START TRADING” on the homepage. After submitting the required personal information, the registration will be successful. Users need to provide additional personal information, complete a survey questionnaire, and upload identity documents for verification. Once verified, they can deposit funds and start trading.
Account Types:
FXNovus offers five different types of real trading accounts: Classic Account, Silver Trading Account, Gold Trading Account, Platinum Trading Account, and VIP Trading Account.
Classic Account:
- Maximum Forex Leverage: 1:400
- Minimum Spread: 2.5
- Number of CFDs Assets: 160+
- Commission: None
- Customer Support: 24/7
- Minimum Deposit: $250
- Margin Call/Stop Out: 100%/20%
- Trading Tools: Available for all assets
- Currency Conversion Discount: Not offered
- Minimum Trade Size: 0.01
- Maximum Trade Size: 50
- Negative Balance Protection: Provided
- Free Support and Trading Education: Available
Silver Account:
- Similar features to Classic Account but includes currency conversion discount.
Gold Account:
- Minimum Spread: 1.8
- Other features similar to Silver Account.
Platinum Account:
- Minimum Spread: 1.4
- Other features similar to Gold Account.
VIP Account:
- Minimum Spread: 0.9
- Other features similar to Platinum Account.
Trading Platform:
FXNovus offers a proprietary trading platform, available only on the web.
Deposits and Withdrawals:
FXNovus supports deposits through credit/debit cards, bank transfers, and APMs. The minimum withdrawal amounts are 10 Euros/Dollars/Swiss Francs for credit cards and e-wallets, and 100 Euros/Dollars/Swiss Francs for bank transfers.
Summary:
Currently, the broker is marked as "operating normally" on Traderknows.
