ANSWER Despite the seemingly attractive deals it offers, Ultranovas is a scam due to its status as an unlicensed broker and we strongly suggest you avoid engaging with the fraudulent platform.Ultranovas, in an attempt to appear legitimate, displays an address in the UK on its website. According to the UK laws, if Ultranovas is looking to provide financial services or products in the country, it is required to obtain authorization from the Financial Conduct Authority (FCA). However, the UK financial watchdog has put Ultranovas on its warning list as an unauthorized firm. You can access the full warning here.Since there are no rules in place to safe guard investors' interests, entrusting Ultranovas with your funds and personal information could be highly risky. If dealing with the broker, you are exposed to fraud or theft. Therefore, investors are encouraged to stay away from unlicensed brokers like Ultranovas and instead choose a fully regulated one to mitigate such risks.
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