WITHOUT PREJUDICE AND POSTED AFTER RESEARCH WHICH IN OUR OPINION COULD RED ALERT WARNING
The founders of NovaTechFX Rev Cynthia Petion and Eddy Petion were very involved with the failed AWS Mining Scam.
Both were subject to Bankruptcy Proceedings in 2011 and are now scamming people.
Cynthia Petion goes by Rev but shows no letters of qualification after her name.
No search on Facebook or LinkedIn bring up any confirmations of her being a qualified minister.
I have done company registration research and NovaTrading is registered under Registry Code 14757869 in Estonia (one of the capitals of world scams) and they have a Strike Off Notification for failing to submit any accounts.
There are no public records of NovaTech Ltd Reg 25614 BC 2019 in Saint Vincent and Grenadines or of a Florida Government Registration of NovaTech Advisors LLC Florida Reg L19000190968
NovaTech Ltd Founders and Physical Location
It is very important to know the people you are investing in. This will give you some insight into what to expect from the company. NovaTech provides the names of the team members to ensure transparency.
However, there is nothing exciting about this. The company’s CEO is Rev. Cynthia Petion. On the other hand, the COO of the company is Eddy Petion. These two were involved in a very suspect company. They were the top officials behind the company AWS Mining.
In 2018, the Texas State Securities Board issued a cease-and-desist against the company. These are shady individuals that do not deserve your trust. They have already scammed enough people online. Do not become their next victim.
Even worse, the company operates from a very shady jurisdiction. The company claims to operate from Saint Vincent and the Grenadines. This jurisdiction does not have a reliable regulatory body. Anyone can register a company without ever stepping foot in the region. Consequently, it is a paradise for fraudulent companies.
Regulation and Fund Safety
The biggest red flag about this company is its regulatory status. The company has no regulation from a reputable body. Regulatory bodies keep companies in check to ensure they are not running criminal operations. Therefore, a company without regulation can do anything it wants to.
Furthermore, regulatory bodies ensure that companies have the right banking set up. This ensures that the company can offer funds’ safety to its clients. Without regulation, a company cannot assure you of your funds’ safety.
Moreover, there is no evidence of systems’ protection on novatechfx.com. The company does not present any SSL certification to prove its systems are secure. This means that hackers can easily access and steal your funds. This is a huge red flag.
Further, hackers can steal your personally identifiable data. There is just too much to lose with this company. Do not give them your money if you want peace of mind.
The official domain for this company is novatechfx.com. The founders registered the domain on the 17th of June 2019. They later updated the registration on the 16th of June 2020. The expiry date now stands at the 17th of June 2021.
It is fascinating to know that the company only takes out one year registrations. It means that they have no intention of sticking around for long. They may take off with investors’ funds after this period is over. Only invest in companies committed to providing services for a long time.
Moreover, Whois records reveal the registrant’s location as the United States. This contradicts the information they provide on their website. The probability is very high that the founders have never set foot in Saint Vincent and the Grenadines. The country allows people to register businesses over the internet without much hassle.
Novatech is not a trustworthy company. There are too many red flags involved with this company. For starters, the founders have a shady history. This is always a red flag. You should run whenever you see something like this.
Additionally, the company does not have regulatory requirements. Therefore, it cannot assure you of your funds’ safety. The founders registered the company in a very shady jurisdiction. They did this to ensure they do not have to meet regulatory requirements.
1- Founders and Reverend CEO are known for promoting scams.
2- AWS Mining was a blatant ponzi with zero mining that was ruthlessly promoted by Cynthia and Eddy Petion.
3- NovaTechFX (alike AWS Mining) is not legally set up to offer the public an Investment Opportunity ‘outside’ St Vincent and The Grenadines.
They are not registered with the SEC, FSCA or any other Securities Regulator outside St Vincent and The Grenadines.
4- No Verifiable proof of any Forex Trading.
They show a video with trading bars, graphs and such, but sadly it is recorded and what makes things even worse, is the fact that most people calling themselves investors, don’t even understand it.
At most, it’s a ‘smoke and mirrors show’ to dazzle investors.
5- If the Petion’s (founders) could actually make 3 -5% ROI on their own, why would they need some random stranger like yourself?
Why would they need such a big mega MLM Comp Plan above?
If these NovaTechFX people could actually do what they claim they can do with FOREX, all they would have to do is go to the bank, take out a huge investors loan and silently make Billions of dollars by themselves!
NovaTechFX has lasted a little more than 2 years so far.
Some affiliates will argue that this is proof of legitimacy.
I will argue that they have managed to fly under the Regulators / Authorities radar for now.
But if they acquire a bigger data base of affiliates promoting it down the road, they will start getting fraud warnings.
When network marketing recruitment runs dry (or if new investors are scared off), this scheme will collapse and exit scam just like AWS Mining did.
At that point, most of the Investors will lose most of their invested funds.