Novalasset review – is novalasset.com a scam or safe?

Novalasset Key Facts

🔴 Novalasset offers questionable high-yield investment opportunities – a clear sign of a scam!

🔴 Novalasset is quite coy with crucial contact information – beware!

🔴 Novalasset lacks a license for the provision of its services – a huge red flag!

🔴 Novalasset's domain has been running for less than 6 months – another off-putting detail!

Novalasset products and services

Novalasset is nothing novel – instead, it is yet another scam that promises incredible returns on investments – the most modes claim being that Novalasset is able to provide you with returns of 10% daily. Make no mistake – that is not possible, nor is it something that Novalasset wishes to do – the company is simply looking to pocket your deposits.

People should always be cautious when dealing with businesses offering enormously high yields because it's scammers' trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it's a scam, so beware.

Novalasset company and regulation

Novalasset does not give us any information on being a licensed company. Thus, our only conclusion is that it is not – Novalasset is clearly running without any oversight.

The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.

While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to. 

Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.

Novalasset address and contacts

Novalasset fails to provide us with the bare minimum when it comes to contact information – a physical address as well as a phone number. At least other scammers are mindful enough to be bothered to forge these details, while Novalasset cannot even be asked to do that.

Transparency is crucial when talking about brokers and investment companies, and it's part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it's generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company's legitimacy.

Novalasset website info

Novalasset has been operating since November 2020 – this is much less than the 1060 days it advertises on its website.

What's more, the domain is hosted on quite the notorious IP address – 23.254.131.198. It is from the States and co-hosts 3 other websites, exclusively scammers. Here are the ones reviewed by us:

The company also operates in complete obscurity, with SimilarWeb not even listing it on its popularity index – this is rather troubling as well.

Novalasset's owners have decided against letting us know who they are – instead obscuring themselves from WhoIs lookups, and, therefore, failing to live up the standards of transparency outlined above.

Scam warning

We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority. 

However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.

Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.