Below is a comment on our NovaTech FX review post, regarding payout concerns with it.
YouTube comments, reviews on TrustPilot, and other platforms are flooded with allegations against NovaTech FX. Some NovaTech FX investors blame, their accounts blocked without payout.
Thousands of people have lost millions in NovaTech FX and it was not a surprise for us, as we already predicted the same.
Here we will discuss more about the NovaTech FX withdrawal issue and how to get payout?
NovaTechFX Withdrawal Issues
Novatech FX is a financial services company that offers foreign exchange and contracts for difference trading to its clients.
The company claims to provide competitive pricing and fast execution on a range of financial instruments, including major and minor currency pairs, commodities, indices, and stocks.
NovaTech FX also operates an MLM compensation plan where investors are offered referral commissions from multiple downline levels.
NovaTech FX is an opportunity that is too good to be true.
Why NovaTech FX disable Withdrawal?
Novatech FX has stopped giving withdrawal for a long time. There are many instances when NovaTech FX’s website was down and this all happened with a platform that claims to be the best trading platform globally.
To understand these withdrawal issues, we need to consider its past first.
NovaTech’s founder Cynthia Petion and her husband Eddy Petion have been top promoters of AWS Cryptocurrency MLM.
AWS mining was giving blatant crypto investment returns and later proved to be a Ponzi scheme. Even various government authorities issued notices against them.
A similar situation is with NovaTech FX now. From the beginning, NovaTech FX has provided guaranteed returns on its investment and a high referral bonus. This attracted millions of people around the world.
Many government authorities warned against NovaTech FX as it was illegally providing financial services that it was not allowed.
Still, people followed their greed and now their funds are locked with NovaTech FX.
We mentioned in our NovaTech FX review:
Till now NovaTech is working fine and the users are happy with ROI and affiliate commission. Factually, NovaTech FX is a scam. It is committing 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.
How to Withdraw Funds from NovaTech FX?
If you are unable to get a refund through the usual channels, there are a few steps you can take to try and resolve the issue.
Remember NovaTecch FX is the least governed as they are not a legal enterprise, hence it’s tough to get refund from them and there is no guarantee of this.
First, you should try contacting Novatech FX directly to see if they can assist you with your withdrawal issue. You can try reaching out to them through their customer support channels, such as email or live chat, or you can try calling them directly.
Make sure to provide as much information as possible, including details about your account, the withdrawal request, and any errors or issues you have encountered.
If you are unable to resolve the issue with Novatech FX, you may need to seek the assistance of a financial regulator or industry organization.
Depending on where you are located, you may be able to file a complaint with a regulatory body, such as the Financial Conduct Authority (FCA) in the UK or the Commodity Futures Trading Commission (CFTC) in the US.
NovaTech FX has already received fraud warnings in Canada, Russia and the USA. So keep following your regulator bodies for payouts.
These organizations can investigate your complaint and may be able to help you.
It’s also worth noting that if you used a credit card to make your deposit with Novatech FX, you may be able to file a chargeback with your credit card company to try and get a refund.
Morever, a TrustPilot user shared his experience. He got a payout with help of a financial recovery firm, but we are not sure about this.
Overall, the best course of action will depend on your specific situation and the nature of your withdrawal issue.
It’s important to stay calm and try to work with Novatech FX or other relevant parties. Try you get your refund as soon as possible and aware others to not get caught in scams like this.