FX-NOVEL

According to WikiFX data, FX-NOVEL holds a core score of 1.51 out of 10, which is considered very low. This score is primarily driven by a complete lack of regulatory oversight—the broker does not hold any valid forex trading license from a recognized financial authority. Without external supervision, traders face unmitigated counterparty risks, and there is no formal recourse mechanism in case of disputes. Consequently, the broker exhibits a high-risk profile, and traders should exercise extreme caution.

No, FX-NOVEL is not regulated by any credible financial authority. Its license list shows no entries under the Forex License category, and the regulatory index in the WikiFX assessment is zero. The broker operates without a valid license from any major regulator (such as the CFTC, FCA, or ASIC), meaning it lacks the oversight required to ensure fund segregation, negative balance protection, or dispute resolution.

The minimum deposit varies by account type. For the STANDARD account, the entry condition is 10,000 JPY (approximately $70 USD at current exchange rates). The MAM and PAMM accounts require a higher minimum deposit of 100,000 JPY each. All accounts allow trading from as little as 0.01 lots, making the STANDARD account accessible for smaller capital.

WikiFX assessment does not currently list the specific trading platforms (such as MetaTrader 4 or MetaTrader 5) supported by FX-NOVEL. The broker’s software index is 4.0 out of 10, but no platform names are disclosed. Traders may need to contact FX-NOVEL directly to confirm platform availability.