Is NovaTechfx.com legit or a scam? How does Nova Tech work? Is it worth joining? Is NovaTechfx a pyramidal scheme? Can I make money with the platform. Hello and welcome to our website. This article reviews Novatechfx to determine whether it is legit or just a fraudulent online platform with an intention of conning people their money.
What is Novatechfx?
Novatechfx.com is a forex and crypto trading platform founded by Eddy Petion and his wife Cynthia Petion who is the CEO. Its main goal as claimed on the website is to help people make passive income through the MLM strategy. Many people are believing the promises which are mouthwatering.
The platform has gained popularity in certain countries which include South Africa, United States, Kenya, France, Canada, United Kingdom and more. People are joining and referring to the ‘golden earning opportunity’.
About Novatechfx.com Owners
As stated earlier, Eddy Petion (COO) and Cynthia Petion (CEO) are the people behind the Novatechfx.com company. They’re quite popular in the MLM industry but not in a good way.
Remember AWS Mining, it was one of the biggest scam in 2019 which had run from 2018. The Petion couple were among the top promoters. Cynthia actually had a Vice President in AWS mining. People lost money and now here we’re with Novatechfx.com which is run by this same people.
This negative history hasn’t stopped most people who are joining Novatechfx.com or maybe they don’t have a clue.
Let’s look into how Novatechfx com works
How it works
Novatechfx.com is a money making platform with three distinct methods of earning. It’s this model that help the company make money and at the same time the so called promoters/affiliates.
1. Customer auto Trading account
This account is for people who are not interested in recruiting but only trading.
It includes a fully-automated trading account meaning there’s no experience needed in trading to run the customer account.
They’ve even included an expert advisor software to help in the trading.
2. Affiliate or MLM account
This is the account which offers the Novatechfx com business opportunity. It is here you’ll be able to invite other people to join the company and earn commissions.
It has a monthly subscription fee which is a must pay for your account to be active.
All the features of the customer account are included and therefore it is the top package that include both trading and recruitting new members.
3. Trade on Your Own
This account package is free without any joining and monthly renewal fees. As the name suggest, you’re on your own during the trading. Lots of experience in online trading is therefore required to ensure you don’t lose money in the process.
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The Compensation Plan
The Novatechfx.com company compensation comprises of 7 different bonuses starting form the direct referral bonus to the profit sharing one. Each of the main features of the bonuses has been discussed below:
BONUS 1 (DIRECT REFERRAL)
It is earned after you refer new people as an affiliate to join Novatechfx com. The bonus given depends on the account they subscribe to and also if they’ll upgrade. An overview of how they distribute the direct referral is given below,
- No direct bonus for an affiliate package which cost $49.95 unless there’s a trading deposit.
- With a Builder Tier package costing between $99 and $499 you’ll get a $10 only bonus.
- You’ll get $50 bonus if they enroll for bronze tier package which costs between $500 and $2,499.
- You’ll earn $125 if they buy the Silver tier package priced between $2,500 and $4,999.
- You’ll get $250 bonus if they buy the Gold tier package priced between $5,000 and $9,999
- You’ll earn $500 if they buy the Platinum tier package priced between $10,000 and $24,999
- You’ll qualify for $1250 bonus if they enroll for the VIP package priced between $25,000 and $99,999
- You’ll earn $5,000 if they buy the President tier package priced at $100,000.
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BONUS 2 (INDIRECT BONUS)
The NovaTechfx indirect bonus is given when your direct referrals invite other new members to join the platform and the commission distributed in terms of levels as illustrated below.
- Level One: You’ll earn 5% of all the Direct Referral Bonuses paid to the first level of Sponsor tree.
- Level Two: You’ll earn 2% of all the Direct Referral Bonuses paid to the second level of Sponsor tree.
- Level Three: You’ll earn 1% of all the Direct Referral Bonuses paid to the third level of Sponsor tree.
- Level Four: You’ll earn 1% of all the Direct Referral Bonuses paid to the fourth level of Sponsor tree.
- Level Five: You’ll earn 1% of all the Direct Referral Bonuses paid to the fifth level of Sponsor tree.
- Level Six: You’ll earn 0.5% of all the Direct Referral Bonuses paid to the sixth level of Sponsor tree.
- Level Seven: You’ll earn 0.5% of all the Direct Referral Bonuses paid to the seventh level of Sponsor tree.
BONUS 3 (FAST TRACK)
You’ll qualify for the Fast Track Bonus if you jump start your business within the first 45 days after enrolling into NovaTechfx.com. The bonus can either be $100 or $500.
BONUS 4 (CHECKING MATCHING)
Whenever your direct referrals earn a trading bonus, you’ll receive a matching bonus.
BONUS 5 (RESIDUAL)
Here you earn from the monthly service fees paid by your active direct referrals. The earnings are referred to as residual bonuses.
BONUS 6 (RANK ACHIEVEMENTS)
The Rank Achievements are in form of both cash and prize rewards which can be worth over $100,000. The Rank Achievements Bonuses are distributed based on rank as listed below
Platinum Associate rank
- $100 Bonus given
- $500 for PV Requirement
- $25,000 for GV Requirement
- $15,000 for Max leg volume
- Three associates as Ranks in downline
Junior Executive rank
- $500 Bonus given
- $2,500 for PV Requirement
- $50,000 for GV Requirement
- $30,000 for Max leg volume
- One platinum associate as Ranks in downline
- $1000 Bonus given
- $2,500 for PV Requirement
- $250,000 for GV Requirement
- $150,000 for Max leg volume
- One Junior associate as Ranks in downline
Senior Executive rank
- $2,500 Bonus given
- $5,000 for PV Requirement
- $1,000,000 for GV Requirement
- $450,000 for Max leg volume
- Two Junior executives or one executive as Ranks in downline
There are other higher ranks including Junior Director, Director, Senior Director, 1-Star Ambassador and 2-Star Ambassador. All the matching bonuses, PV and GV requirements as well as the max leg volume for each of these ranks can be found on NovaTech Rank achievement list.
PROFIT SHARING BONUS
This is only for highly ranked members who are given a share of the gains NovaTechFX.com company gets.
Is NovaTechFX.com legit?
NovaTechFX.com is not a legitimate company. There are way to many red flags including the pyramidal like structure, unrealistic revenue model which is based on more people joining, bad history of the front runners of the company, it’s not regulated and many more.
It may be paying some of its members at first but as it’s with most MLM scams, most of the members will lose their investments. They definitely cannot sustain their business model which relies on more people joining the company.
It’s therefore not worth joining and if it’s a must you become a member, invest what you can afford to lose.
There are actually many members who can defend NovaTechFX.com, just take a look at its reviews on TrustPilot. Most of them are positive with a 4.3 rating. The 5 stars are likely made by the affiliates who are interested in potraying a good image of the company to attract more recruits. Don’t fall for it!
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