Broker Review

Unauthorised Firm Details

Name: www.novotrend.co

Website: www.novotrend.co

Novotrend.co presents itself as a modern online broker with bonuses, low fees and access to MetaTrader 5. At first glance, the offers seem attractive: a 50 % affiliate bonus, zero deposit and trading commission, and multiple account types. But beneath the surface, there are issues worth looking at before you commit your money.

Promotions and Transparency

Novotrend uses eye-catching promotions to attract new clients. While these offers can be tempting, the details are unclear. The broker does not fully explain who qualifies for the bonuses, how long they last or any conditions attached. This lack of transparency is a common tactic among high-risk offshore brokers.

Offshore Registration and Regulation Risks

Novotrend.co is operated by Novotrend Ltd, registered in St. Vincent and the Grenadines. This jurisdiction is known for light financial oversight and minimal investor protection laws. Brokers registered there are not supervised the same way as firms in the UK, Australia or the EU.

This means if something goes wrong — for example, a withdrawal freeze or sudden account closure — legal support for the trader is limited. Even though the broker mentions MetaTrader 5, there is no public confirmation that it is an official license from MetaQuotes. Some brokers deploy altered or fake MT5 platforms that mimic the real interface but do not connect to actual markets.

Independent sources have also raised concerns. According to WikiFX, Novotrend holds an extremely low score of 1.37/10 and is flagged for operating without valid regulation. Fraud-tracking sites have echoed similar warnings, noting that funds held with Novotrend may not be safe and that the company provides limited verifiable information about its ownership and banking partners.

What Real Users Say

Despite the red flags, there are also positive user experiences. On Trustpilot, one reviewer wrote:

“Trading with Novotrend is comfortable. Several types of accounts, many assets, small commissions… I decided to start trading with this broker and I did not regret it, there were no serious problems.”

Another client commented:

“Fast terminal, low spread, you can choose the amount of leverage. No bonuses, which means no spam to mail.”

A third shared:

“I trade directly with liquidity providers. Novotrend has a dedicated MT5_STP account for this type of trading. The minimum deposit is sane, only 100 bucks, but I always trade from 1000 bucks. Quotes are accurate, no requotes.”

Others highlighted stability:

“I have been a client of the company for more than a year and for all the time I have never encountered any incidents. The execution is excellent, the spread is narrow, deposits and withdrawals work well. If you are looking for a reliable broker, then you can safely open your trading account here.”

But not every review is positive. Several fraud-alert websites warn:

“With such lack of information and Novotrend being offshore, funds are not safe.”

and

“Scammers adhere to complete anonymity, hide behind someone else’s legal data… Novotrend could go bankrupt from one day to another since there are no banking information about this broker.”

Bottom Line

Novotrend illustrates the double-edged nature of online trading platforms. While some traders report good execution, low spreads and smooth withdrawals, independent watchdogs raise major concerns about its offshore registration, lack of clear regulation and incomplete transparency about its operations and promotions.

If you’re dealing with a blocked account, unexplained fees, or withdrawal problems at Novotrend, don’t ignore the signs. Stop transferring additional funds, take screenshots of your dashboard, and save every email or chat. This documentation can make all the difference if you decide to involve consumer protection bodies or pursue recovery options.