Editor’s Verdict
Overview
Review
Headquarters | Marshall Islands |
|---|---|
Year Established | 2015 |
Execution Type(s) | ECN/STP |
Minimum Deposit | $1000 |
Trading Platform(s) | Other, MetaTrader 4, Web-based |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
TraderNovo is an established ECN Forex broker serving both individual and corporate clients who can trade on currency pairs, CFDs, Indices, commodities and stocks from all over the world. The brokerage is located in the Republic of Marshall Islands. Although they indicate that they are regulated, they do not offer any information about this regulation.
Accounts
There are four types of trading accounts at TraderNovo. $1,000 is the minimum required deposit required to open the Novo ECN account. Traders receive up to 1:300 leverage and a host of other benefits such as live market news, live support, mobile trading and withdrawals within five days.
Account Types Comparison
The Novo account needs a minimum deposit of $5,000 to start and additional features of this account include daily signals and market analysis.
$10,000 is required to open the Novo Pro account where traders have access to the broker’s direct dealing room. 1:300 leverage is offered in this account and a senior account specialist is provided for each trader’s use.
Anyone with $100,000 can open the Novo ECN Pro account and benefit from all the features of the other three accounts as well as a dedicated senior account specialist in addition to what is referred to as ‘flexible trading conditions’ though no special conditions were listed. Although it is not referred to as such, I assume this account is TraderNovo’s VIP account since there are some references to VIP accounts without any additional information about them.
Demo accounts are available and when a trader moves on from his/her demo account to a live platform, he/she can start trading with any amount of money since TraderNovo does not have a limit on trade volume.
Features
TraderNovo provides several features. These include straight-through processing which means orders are automatically sent directly to liquidity providers; leverage as high as 500:1; trades made over the web as well as on devices that use iOS, Android, or the Windows Mobile operating system; quick and easy funding; prompt 24/7 support; the use of hedging and Expert Advisor strategies; trades in Standard, Mini and Micro lots and more.
TraderNovo Spreads
Bonuses/Promotions
At the time of this review, TraderNovo was offering traders a free $30 no deposit bonus as well as a 100% welcome bonus on the first deposit up to $3,000.
There was also a loyalty bonus offered to traders on their second deposit up to $10,000 but no specifics were included. In addition, free e-mail/sms trading signals were offered to all active traders.
Education
At the TraderNovo education center, traders are offered free webinars, tutorials and other financial information. An economic calendar with global events is posted online as is up-to the minute market news which scrolls vertically on the landing page. Market analysis is also provided on a daily basis.
Markets News
The TraderNovo trading signals which include chart-based price movements with resistance and support levels and daily insights on the major financial events are offered free to all traders.
Deposits/Withdrawals
Deposits can be made to open accounts via a bank wire transfer, credit cards and several e-wallets including Moneybookers.
Withdrawals are made by filling out an online withdrawal form. Withdrawals are processed within 1 business day.
Partnerships
Traders can take advantage of several partnership arrangements such as affiliates, white labels, introducing brokers and money managers.
Customer Support
Customer Support Methods |   |
|---|---|
Support Hours | 24/5 |
Website Languages |      |
The TraderNovo website can be read in English, Italian, Russian, Rumanian, German, Polish and Spanish.
Traders can reach a TraderNovo representative via email, telephone and Chat.
Conclusion
TraderNovo is a relatively new broker and as such tries to offer traders as much as it can including generous deposit bonuses. The choice of different trading accounts is commendable and the trading platforms are the top of the line in the industry. Blatantly missing is some description of their regulation as well as additional customer support information.
Features
The various sets of choices at TraderNovo are what make this broker attractive. There are four different trading accounts that accommodate deposits starting with a deposit of $1,000 and going up to $100,000, all with generous leverage. There is also a demo account. There are also several trading platforms including the MetaTrader4 and a mobile option that offer a host of benefits. Despite its reference to being regulated, there is no additional information provided and this is disconcerting.
Platforms
TraderNovo offers platforms for PCs as well as mobile apps for MetaTrader terminals.
MetaTrader 4
The Trader Novo MT4 terminal allows trading in the financial markets (Forex, CFD and Futures). Already known as the most popular online platform, the MT4 is a user-friendly and reliable trading software that combines technology and design, to present a set of various features for traders.
Some of its features include:
Cutting-edge and user-friendly infrastructure; access to all major trading instruments; one click trading; multiple order types; advanced analysis tools; Market Watch window; Automated Trading – Expert Advisors; pre-installed indicators and multi-currency/language support.
Webtrader
The Trader Novo Webtrader offers all the features of your MT4 platform as well as direct access to the markets through a browser. Trader Novo Webtrader does not need to be downloaded and clients can now trade any time anywhere with full access to their multi-product trading accounts including full functionality via a simple Web interface.
The Webtrader offers real-time quotations of financial instruments as well as charts and real-time news.
Mobile
The Mobile MT4 is a custom application for users of mobile devices with iOS and Android. The Trader Novo Mobile app allows Internet trading with all currency instruments anytime and anywhere with all the additional benefits of the other platforms.
MetaTrader 4 Mobile Platform
Binary Option Platform
The Binary Option Novo is a web-based trading platform very easy to use by all traders, regardless of trading experience. All that is required is to choose an asset, make a prediction about the direction of the market and decide how much should be invested. No downloading is required and it can be used on any device with an internet connection. It offers a variety of binary option types and is compatibility with virtually all internet browsers.
Trading Platform
MT4 | |
|---|---|
MT5 | |
cTrader | |
Proprietary Platform | |
Automated Trading | |
Guaranteed Stop Loss | |
Scalping | |
Hedging | |
OCO Orders | |
Interest on Margin |
