FXNovus has emerged as a notable forex and CFD broker, claiming to offer competitive trading conditions and a user-friendly platform. But is FXNovus a legitimate broker, or is it a scam? In this in-depth review, we analyze FXNovus’ regulatory status, trading conditions, fees, customer support, and user feedback to determine whether it is a trustworthy platform for traders in 2025.
Image Source: FXNovus Homepage
Regulation & Security
FXNovus is a trading platform that offers CFD (Contract for Difference) trading on various financial instruments, including Forex, cryptocurrencies, indices, stocks, and commodities. The broker is regulated by the FSCA (Financial Sector Conduct Authority) of South Africa under License No. 50963 (Registration No. 2020 / 183344 / 07). The broker implements robust security measures, including SSL encryption and segregated client accounts, to protect user funds and data.
However, traders should always verify regulatory claims by checking the official website of the regulatory body. A lack of recognized financial oversight may raise concerns about the broker’s credibility.
Trading Conditions & Features
FXNovus offers a range of trading instruments, including:
- Forex currency pairs
- Commodities (Gold, Silver, Oil, etc.)
- Indices
- Cryptocurrencies
- Stocks
Spreads & Fees
FXNovus provides competitive spreads starting from [insert minimum spread], with commission-free trading on most account types. However, traders should be aware of potential hidden costs such as withdrawal fees or inactivity charges.
Leverage & Margin Requirements
The broker offers leverage up to [insert max leverage], which can be advantageous for traders seeking higher exposure. However, high leverage also increases risk, making risk management strategies essential.
Trading Platforms
FXNovus supports the following trading platforms:
- WebTrader – A browser-based platform requiring no downloads.
- Mobile App – A convenient option for trading on the go.
Account Types
FXNovus provides multiple account options catering to different trader needs:
| Account Type | Suitable For | Max Fx Leverage | Min Spread | Margin call/ Stop-out |
| Classic | Beginners | Up to 1:400 | From 2.5 | 100%/50% |
| Silver | Advanced Beginners | Up to 1:400 | From 2.5 | 100%/50% |
| Gold | Intermediate Traders | Up to 1:400 | From 1.8 | 100%/50% |
| Platinum | Competent Traders | Up to 1:400 | From 1.8 | 100%/20% |
| VIP | Expert Traders | Up to 1:400 | From 1.4 | 100%/50% |
Features available in every account:
- Available CFDs on Assets – 160+
- Min Deposit – None
- Execution Model – STP
- Margin Call/Stop-Out – 100%/50%
- Account currency – EUR/USD/CHF/GBP
- Support – Full 24/7
- Margin call/ Stop-out – 100%/50%
You can find detailed information on each account on the FXNovus Website.
Deposit & Withdrawal Process
FXNovus supports various payment methods, including:
- Credit/Debit Cards
- Bank Transfers
- E-Wallets (Skrill, Neteller, etc.)
- Cryptocurrencies
Processing times for deposits are typically instant, while withdrawals may take 1-5 business days depending on the method. Some users have reported delays in withdrawal processing, making it essential to review the broker’s terms and conditions.
Customer Support & User Feedback
FXNovus provides customer support via:
- Live Chat – Available 24/7
- Email Support
- Phone Support
User feedback on FXNovus is mixed. While some traders appreciate the platform’s features and competitive pricing, others have raised concerns about slow withdrawals or difficulties with customer support responsiveness. It is advisable to read multiple independent reviews before making a decision.
Final Verdict: Is FXNovus Legit?
FXNovus presents itself as a legitimate broker with attractive trading conditions, diverse assets, and multiple platforms. However, traders must conduct due diligence, especially regarding regulatory compliance and user feedback. If FXNovus lacks a top-tier regulatory license or has persistent negative reviews, caution is advised.
Pros & Cons
Pros: ✔ Competitive spreads and fees
✔ Wide range of tradable assets
✔ Multiple account types
✔ Demo account available
Cons:
✖ Withdrawal delays reported by some users
✖ Customer support responsiveness varies
Before opening an account, ensure FXNovus aligns with your trading needs and risk tolerance. Always verify regulatory credentials and start with a small deposit to assess the broker’s reliability firsthand.