FX Novus major scam ?

Is Fx novus a well thought out scam? Hundreds of spam websites exist to bolster the credibility of this broker. Just poor marketing scheme or a well designed scam ?

Dear Investor,

Thank you for reaching out to us. We researched the website of Fx Novus (fxnovus.io) and are concerned that it is a risky trading platform.

The website claims to be regulated by the Financial Sector Conduct Authority (FSCA), stating the brand is operated by FXNovus (PTY) LTD with an FSP No. 50963. We found corresponding records on the FSCA's register, but the information disclosed there is limited and lacks essential details about the licensee. This makes it challenging to verify the connection between Fx Novus (fxnovus.io) and the holder of the FSP No. 50963. Simply put, the information from the FSCA cannot adequately prove that Fx Novus and the services provided through fxnovus.io are truly supervised by the FSCA. There might be a potential of identity theft—this platform might copy information from a genuine firm registered with the FSCA to appear legitimate and credible.

As for the alleged affiliation with Peaksight Ltd, a company licensed by the Cyprus Securities and Exchange Commission (CySEC), it remains unverified. Information from the CySEC register does not support a connection between these two entities. Even if this affiliation were true, it wouldn't necessarily mean that FXNovus is fully regulated. Being part of a group with a licensed entity does not automatically grant regulatory status to all companies within the group. Furthermore, even if FXNovus were subject to that license, the oversight from an offshore jurisdiction is generally weak, providing minimal protection.

We suggest you exercise extreme caution with Fx Novus. Should you have any further inquiries or need assistance, please do not hesitate to contact us.