Is NovaTech a Pyramid Scheme? Honest MLM Review

novatech review

This post is a to-the-point and impartial NovaTech Review. This is one more MLM company selling memberships related to crypto & forex trading.

NovaTech is a Crypto-based as well as a Forex-based MLM.

In this post, we will share the company profile, joining details and MLM compensation plan followed by the answer to the question, Should I Join NovaTech?

It will also be proved whether Novatech is a Ponzi Scheme, Pyramid Scheme or a legit MLM company.

NovaTech FX
FounderCynthia Petion
When Started2019
Head Office Kingstown, Vatican City
Opportunity TypeMLM
Joining Cost$49.95

What is NovaTech FX?

NovaTech claims to be a Crypto and Forex trading platform providing MLM benefits. Cynthia Petion founded NovaTech in the year 2019.

novatechfx founder

NovaTech mainly provides two types of accounts: PAMM (Permanent Allocation Management Module) and MT5.

PAMM account allows users to invest their funds through master accounts that are traded by experienced traders. A part of the profit from such trades is kept by NovaTech. No experience is needed to trade in such an account, but experts must be chosen wisely.

MT5 is the mobile version to do financial trading. This mobile account supports trading activities and helps to check account status, history and other crucial data.

 According to SimilarWeb statistics, major traffic to is from the United States (75.25%), Canada (6.40), South Africa (2.72%), Colombia (2.38%) and Puerto Rico (1.48%).

Read: Trust Investing Review

Joining NovaTech

There are mainly two ways to be a part of NovaTech: Purchasing Membership or Holding a trading account. The requirements of both are as follows:

  • The yearly Membership charge is $49.95. Members also need to pay a $2.95 service fee every month.
  • If you wish to hold a trading account, you need to make a minimum investment of $99 and pay the monthly service fee of $25.

To become eligible to receive bonuses, the affiliates are required to maintain either of the two.

Read: Kok Play Review

NovaTech Products

There are no retailable products in NovaTech. Instead, the affiliates have to sell NovaTech membership packages.

There are different packages as follows:

Package NameCost (USD)
Builder$99 – $499
Bronze$500 – $2499
Silver$2500 – $4999
Gold$5000 – $9999
Platinum$10,000 – $24,999
VIP$25,000 – $99,999
President$1,00,000 or more

On purchasing the above packages the members get access to a PAMM account with the initial deposit amount equal to the cost of the package.

The commission on selling each package is different which we will discuss further.

Read: ClubShop Review

NovaTech Compensation Plan

There are mainly 7 types of bonuses paid to NovaTech affiliates. They are as follows:

1. Direct Referral Bonus

This bonus is paid when you add a new affiliate to your direct downline. The Direct Referral Bonus ranges from $10 to $5000 depending on which package you have sold.

Package NameDirect Referral Bonus

2. Indirect Referral Bonus

The Indirect Referral Bonus is paid up to 7 levels when any new affiliate is added in the downline or existing affiliate upgrades to the new package. The percentage paid as a bonus is as follows:

  • First Level – 5%
  • Second Level – 2%
  • Third – 1%
  • Fourth Level – 1%
  • Fifth Level  1%
  • Six Level – 0.5%
  • Seventh Level – 0.5%

3. Fast Track Bonus

When affiliates enroll a minimum of 3 Bronze or higher members within 45 days of registration, they stay eligible to receive a $100 Fast Track Bonus.

If they enroll a minimum of 3 Silver or higher members within 45 days, receive $500 as a Fast Track Bonus.

4. Check Matching Bonus

The Sponsor earns Check Matching Bonus up to 9 levels from the trading bonuses earned by the direct downline. The percentage earnings are as follows:

  • First Level – 5%
  • Second Level – 2%
  • Third – 1%
  • Fourth Level – 1%
  • Fifth Level  1%
  • Six Level – 0.5%
  • Seventh Level – 0.5%
  • Eight Level – 0.25%
  • Ninth Level – 0.25%

This bonus is paid out weekly.

5. Residual Income

This bonus is paid up to 9 levels from direct downline as a percentage of the services fees paid by the members. The percentage is as follows:

  • First Level – 5%
  • Second Level – 2%
  • Third – 1%
  • Fourth Level – 1%
  • Fifth Level  1%
  • Six Level – 0.5%
  • Seventh Level – 0.5%
  • Eight Level – 0.25%
  • Ninth Level – 0.25%

6. Rank Achievement Bonus

The affiliates are motivated to achieve higher ranks by paying out Rank Achievement Bonus. The bonus amount is as follows:

Platinum Associate$100
Junior Executive$500
Senior Executive$2500
Junior Director$5000
Senior Director$25,000
1 Star Ambassador$50,000
2 Star Ambassador$1,00,000

7. Profit Sharing

10% of the company’s profit is placed in the Profit Sharing Pool and the Senior Executives, Directors and Ambassador stay eligible to receive a part of this profit as follows:

  • Senior Executive – 2%
  • Director – 3%
  • Ambassador – 5%

Read: InCruises Review

To Be Concluded

This was all about NovaTech and its compensation plan. Till here everything seems to be perfect and positive but there are a few things we need to inspect.

Fake Information

One of the biggest red flags of any MLM company is false information. The official site and social media accounts include addresses of Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent & Grenadines. But Google Map Review denotes location is fake and frequently used by scammers & shell companies.


NovaTech claims to be legally registered as Saint Vincent and the Grenadines, but we are unable to verify incorporation details. Even though, if it is registered in Saint Vincent and the Grenadines, it doesn’t make any sense as most members are from the USA, Canada and South Africa (as per similar web).

Nasty Founder History

Cynthia Petion and her husband Eddy Petion have been top promoters of AWS Cryptocurrency MLM.


At first, AWS seemed to be a crypto earning opportunity but at a later date was proved to be a Ponzi scheme.

AWS was served a securities fraud cease by the Texas Securities and at that time none of the company people, as well as neither Cynthia nor Eddy came forward to defend it.

Moreover, NovaTech FX has received a fraud warning in Russia by CBR (The Central Bank of the Russian Federation). While in the future authorities from other countries as well going to issue warnings.

Not Authorised

Being an MLM company, NovaTech FX is also providing investment services that require authorization from financial regulators of different countries of operation, which certainly NovaTech doesn’t have.

It means NovaTech is doing securities fraud. To provide brokerage services, strict regulations are needed to follow while NovaTech is even failing to provide the correct address.

NovaTech is Ponzi Scheme

“NovaTech is operating for the past 3 years and paying regularly” this argument is frequently used to support NovaTech.

While this is a common phenomenon of the Ponzi Scheme scams. They pretend to be MLM and actually pay on time to attract more people.

Most probably, There is no actual trading made. Instead investment of new people is used to pay early investors and the same phenomenon goes on.

But as the MLM network (Ponzi Scheme) spread exponentially, most investors lose their money in the end.

Strategically it designs to lure maximum people, do money circulation and then disable withdrawal to do an exit scam.

Is NovaTech a Scam?

Till now NovaTech is working fine and the users are happy with ROI and affiliate commission.

Factually, NovaTech FX is a scam. It is doing securities fraud and a Ponzi scheme that can collapse at any time.

We will highly recommend staying away from it, as the government will not be able to help if you lose your money to it.

Read: Rodan + Fields Review

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23 thoughts on “Is NovaTech a Pyramid Scheme? Honest MLM Review”

    1. Well so far I’ve been in 1 yrar and a half. I been hearing this and that. Mostly if the government dosen’t hv there dick in yr ass then it’s a scam.

      1. Hello Bruce, are you saying that it would all work great until the government steps in and decides it isn’t ok because of some law or regulation that everyone was unaware of? Could you expound on your statement? I put in about $500 and have a considerable growth I am told. My friend was managing my account by placing it auto on reinvest. Now as I understand it, the payouts are pennies. I am told that the FTC has pushed everything into a hold pattern. No one is getting their Friday payouts. I can’t get into my account and it seems that there is no communication about it. I was involved in Zeek Rewards several years ago. They were using online auctions to grow money and paying out to people who would place the advertising for them. I had never met one person who complained. The activity was going on all over the world. The gov. stopped it. I am still suspicious that it had more to do with the government not wanting ‘normal middle class’ people to get ahead as that means we don’t need government in out lives. Do you or anyone have any thoughts on this. Any thoughts currently on Nova Tech?

  1. Thank you so much,I am happy investing in my business. My friend was about to recruit me talking of how people are investing upto 60k

  2. Just reached out to the leasing company in the Grenadines, and this was their response:

    “Dear Sir/Madam,

    Please be advised that our firm is the Registered Agent for Nova Tech Ltd., the apparent owner of NovaTechFX, which means that we registered this Company in St. Vincent and the Grenadines for the client…”

    “…We do NOT own or operate this Company whatsoever, Furthermore, this Company does NOT operate from our address. It is a Registered Address ONLY…”

  3. The fact that they trade btc and forex in a market crash and are supposedly killing it , is a total scam right there! But for me the red tape is the lady running it how can anyone over look that she just finished running a Ponzi scheme before this one! My friends have invested there life savings in which they keep 25% automatically! Wow They are being paid right now and think it’s glorious but I have seen these crash and people left with nothing. Not a cent ! I am very concerned. Has anyone reported them to the better business bureau?

  4. There is no stock on Earth that pays anywhere near What Novatech pays And it’s obvious that they registered it in a way that they could protect The founders that does not mean it’s a fraud. Someone could tell me of a company that pays as much either stock exchange or otherwise Or until someone has evidence that they have defrauded someone not Conjecture or hypothetical Then I’ll be there. Until then shut up.

    1. Big FACTS. I am in 6 months and I am getting my money. Once I get my 10k out, it’s all cake. But I will be reading this blog for the haters! while in Aruba hahaha bye #TeamNovatech

  5. NOVATECH has been great, in less than a year 100k wow…I was on a live zoom with the Ms Cynthia & the humility & humbleness wasn’t an act…the process is simple & having belief in a system that’s proven to work is life changing. Everyone involved is winning & all the discredited is based on people not involved…enough said.

  6. its working well now as it should some people will win but once they get they numbers where they want to be then its time to pull and that where people will lose..$4000 sounds good to who,poor people and thats who they are betting on put your money up

    1. 10 years from now y’all still be hoping it’s a scam while us novatechfx fam will still be getting paid. American companies who relocate to china or india to get away get away with certain are not any more legit.

  7. Curious to the current thoughts on Novatech? I have a friend who has been waiting for a month for a payout and now his account is no longer active.

  8. Sharing my real-world experience for anyone considering giving money to this company. I regret doing so, and have to live with the consequences.

    I opened an account and gave them some BTC in Sept 2022, which I was reinvesting each week and seeing the increases register in my account, but when the state of California issued its C&D against Novatech I submitted a withdrawal request for my account balance to protect myself in case the funds were cut off.

    I made this withdrawal request in December, and not only have they STILL have not honored it (it is now April 2023), but they did remove my balance from the investment fund in December which meant I didn’t have access to it AND it was no long earning the gains from the portfolio. So all they did was cut my funds out of their portfolio and keep them locked up and refuse to honor my withdrawal request.

    And now, 4 months later, they put out a notice saying I can only withdraw 5% of this balance per month, and they’ve added a 5% fee to each withdrawal which was not part of the original agreement. And to top it all off, my account is now worth LESS than it was when I started because the value of BTC increased by almost 70% during the time my funds were locked up inaccessible to me, so I would’ve been much better off financially by just holding BTC.

    At this point I am counting this money as stolen by them. It was not part of the original agreement for them to lock up my funds for 4 months and then change the language of their payout program so that I can only withdraw 5% per month, and it was not part of the original agreement to add a 5% fee to each withdrawal. It’s very clear that this company knows they will collapse if they allow users to withdraw funds, so they have changed their payment plan to make it impossible for us to do that. I’m an idiot for investing anything with this company. Please do not make the same mistake.

  9. They are now holding my funds !! 5%,,,10%,,,,and 15% withdrawal NEW rules !? rec’vd the %5 ,,,,,10% is still pending(for a month),,,and when I requested the 15%. I was told only 5% . And I’m waiting on that as we Communicate ?! Very questionable ?!?! And doesn’t Ms Petion also call herself a ,,,,,Rev. ? I can only Pray for ,,,At Least,,,a return of my balance ?! I would even settle for 5% increments ?! But to outright withhold monies and Cease & Desist Communications ,,,,,? IS DESPICABLE,,,,,,,,,,?!

  10. I have been in this since last year and want to withdraw my money. I have texted the woman who got me into this, but has not responded to my text. I called her number today, but it went straight to voicemail. Any suggestions??

  11. It is disheartening to acknowledge the extent of the deception perpetrated by Novatechfx. Many individuals, including myself, invested significant amounts, hoping for a positive outcome, only to realize that our hard-earned money had been irretrievably lost. The individuals behind this scam, namely the Petion family—Cynthia, Eddy, and Cynthia’s brother—must be held accountable for the millions they have stolen from countless innocent people. This ordeal serves as a painful lesson for all of us.

    My deepest sympathies and prayers go out to those who suffered financial losses as a result of these criminals. In particular, I empathize with those who, driven by desperate hope, saw Novatechfx as their potential lifeline out of poverty and despair. It is easy to argue that they should not have risked what they couldn’t afford to lose, but unless one has experienced the depths of poverty and the flicker of hope that a chance like this represents, it’s difficult to comprehend the allure it holds.

    We must acknowledge that the dire circumstances people find themselves in can lead them to disregard logic and reason, clinging instead to hope. It is deeply unsettling that there are individuals who exploit such vulnerability, placing their greed above the well-being of others. The fact speaks for itself and exposes the moral bankruptcy of those who perpetrate such acts.

    To those fortunate few who were able to withdraw funds exceeding their investment, I extend my congratulations. It is reassuring to know that not everyone suffered losses. However, for those who lost any amount, no matter how big or small, let this experience serve as a valuable lesson that we can share with others in order to prevent similar misfortunes. I am certain that the stories of those affected by this scam are heart-wrenching.

    Let us collectively uplift everyone impacted by this incident, sending positive energy, thoughts, and prayers their way, so that they may find solace and resilience during these challenging times. By supporting one another, we can manifest goodness and attract positive outcomes for ourselves as well.

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