DigitalReviewCenter
Warning: Is Mynovatrade a Scam?
⚠️ Mynovatrade has been reported by the The Central Bank of Russian Federation (Russia).
Mynovatrade (mynovatrade.com) has been flagged as a potential scam broker. The company details are opaque and suspicious.
Review: Mynovatrade (mynovatrade.com)
Our analysts urge you to stay away from Mynovatrade (mynovatrade.com).
Mynovatrade presents itself as a trading firm, but it is currently not authorized by any credible authority, like the ASIC or CySEC.
Scammed by Mynovatrade?
If you think you were tricked by Mynovatrade, act now. Submit the inquiry below to consult our investigative team for a free consultation.
Safety Analysis: Mynovatrade
Mynovatrade runs without oversight.
Investing with unlicensed firms is extremely dangerous. Real firms are always registered with agencies like the FINRA or FCA for your protection.
Mynovatrade lacks this protection. As a result, there is no safety net if they keep your funds. Most online scams use unlicensed actors, and getting back funds from them is challenging without professional help.
For example, in the UK, unauthorized firms are outside the jurisdiction of the compensation schemes. In America, they are not part of SIPC, so your capital is completely exposed.
Warning Signs of Mynovatrade
Investment fraud is getting smarter. Scammers use social engineering to steal wealth. Here are typical methods seen in sites similar to Mynovatrade (mynovatrade.com).
Pig Butchering & Romance Scams
The "Romance Scam" is a brutal method where scammers groom victims over weeks. They build a friendship online. Once trust is built, they introduce a "lucrative" investment. It is a lie to get you onto a scam site like Mynovatrade.
The "Bonus" Trap
Fraudsters build websites that mimic real trading apps. They have charts and balances that increase. But it is a simulation. The scammer controls the prices to make you feel rich so you invest more. If you ask for a payout, the "profits" disappear.
Red Flags
- Cold Calling: You get calls from "brokers" you don't know.
- Unregulated: The firm has no legal registration.
- Guaranteed Profits: They guarantee huge profits or risk-free trades.
- Cannot Withdraw: They refuse withdrawals. They demand "tax fees" first.
- Pressure Tactics: Agents push you to deposit more.
Do not trust positive ratings. Fraudulent brokers frequently post their own 5-star reviews to appear real.
Conclusion
Our verdict is to block Mynovatrade. It appears to be a scam. Protect your money and find a regulated broker. Avoid mynovatrade.com at all costs.