NovaDAX Review 2024
Minimum
deposit:
  • ₿0.0005

Trading platform:

  • TradingView

NovaDAX Review 2024

Updated:
Updated: October 06, 2023

3.38

/

10

TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum
deposit:
  • ₿0.0005

Trading platform:

  • TradingView
Trading features:
  • All popular cryptocurrencies, BRL, quick exchange service, exchange and OTC trading, internal points system with the possibility of reducing commission fees, modern level of data and funds protection

Summary of NovaDAX Crypto Exchange

NovaDAX is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.38 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by NovaDAX clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work. NovaDAX ranks 94 among 173 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.

The NovaDAX cryptocurrency exchange is widely known in the world market due to its comfortable functionality and large trading volumes. The trading terminal is intuitive; there are several unique solutions. The website works stably, offers a progressive system of discounts and cashback when paying for third-party purchases with a plastic card. The card is linked to an exchange account and can be used in online and offline stores. Low initial deposit, large limits. There is no leverage. The exchange operates officially following Brazilian financial laws.

NOTE!

If you are planning to trade cryptocurrencies, and not just keep your savings in crypto wallets, we recommend that you choose one of the top brokers with reliable regulation and access to trading crypto CFDs. This type of trading will help you avoid holding your cryptocurrency in e-wallets of exchanges, which quite regularly get hacked. Also, availability of leverage will allow you to trade crypto CFDs for amounts much higher than your deposit.

Traders Union experts recommend considering Top 3 companies from our rating:

Start Trading with RoboForex
Your capital is at risk.
Editorial Note: We are unable to verify the validity of reviews and publish all reviews, both positive and negative, in accordance with the Users Reviews Policy.

The Brazilian NovaDAX exchange offers a fast exchange service for cryptocurrency-to-cryptocurrency and cryptocurrency-to-fiat exchange and OTC trading. Bitcoin (₿), Ethereum (Ξ), Tether (₮), OMG, EOS, other popular cryptocurrencies, and coins are traded on the site. Among fiats, you can find the Brazilian real (BRL) and euro. They can be used to replenish the account, trade (only BRL), and also exchange them for cryptocurrency. Investment decisions are represented by classic staking. There is a referral program with fixed payments in reals. The platform has implemented innovative proprietary solutions such as Bottrex and Vector, to automate trading and make it safer. The exchange uses the TradingView browser terminal and offers a mobile application. Standard commissions are market average but can be reduced to 0.21%/0.07% for taker/maker due to the point system.

💰 Account currency: Cryptocurrencies, fiat currencies
🚀 Minimum deposit: ₿0.0005 
⚖️ Leverage: 1:1
💱 Spread: Market
🔧 Instruments: Cryptocurrencies, fiat currencies
💹 Margin Call / Stop Out: No

👍 Advantages of trading with NovaDAX:

  • a lot of cryptocurrencies and coins;
  • it is possible to deposit in fiat in different ways, including bank cards;
  • minimum deposit ₿0.0005, fees can be reduced due to the point system.
  • there are special discounts and bonuses;
  • passive earnings are represented by staking, there is a referral program, API, and bot trading;
  • the exchange doesn’t set restrictions on trading strategies, limits on deposits/withdrawals are higher than the market average;
  • high level of security, cloud storage, cold storage of users’ funds;
  • prompt technical support that operates 24/7.

👎 Disadvantages of NovaDAX:

  • no demo accounts, advanced training, or special solutions for novice traders;
  • Some services and functions are not available for residents of other countries (not Brazil).

Evaluation of the most influential parameters of NovaDAX

User Satisfaction Customer Satisfaction Score (CSAT) is a unique metric of Traders Union based on the analysis of user reviews posted on pages of each broker profile by the visitors of our website from all around the world. We have been collecting these broker reviews for over 13 years, and therefore, we know and understand the level of customer satisfaction with a specific brokerage company better than anyone else.

2.05

/10

Commissions and fees This parameter comprises a comprehensive analysis of all commissions and fees charged by a brokerage company, including trading and deposit/withdrawal fees. Also specific fees, for example the inactivity fee, are taken into account in the final score for the fees. Users can find detailed fees charged by a company in the broker’s profile.

3.59

/10

Trading instruments For this parameter, we evaluate the number of trading assets a broker offers access to in each group of financial instruments. We analyze the quotes a broker offers on Forex pairs, metals, indices, commodities, stocks, and cryptocurrencies. This parameter also includes evaluation of broker’s investment programs, for example access to copy trading, which we regard as an additional type of a trading instrument.

3.37

/10

Brand popularity Traders Union experts are confident that brand awareness mostly fully reflects the real state of affairs in a company – the more popular the broker, the more people trust it. The score for this indicator is based on the data analysis of such services as Ahrefs and SemRush, which show how often a company’s brand is searched on Google. In addition, indicators of the SimilarWeb service, which show the approximate number of visitors of the broker’s website, are also taken into consideration. We also review disclosed official reports of brokers, which allow for evaluating their client base.

3.53

/10

Customer support The score of this parameter is based on the number of available communication channels of a company’s support service. The quicker and easier it is to contact the broker’s support, the higher the score. We check every available support channel, test the speed of processing of requests and completeness of provided information through several interactions.

3.89

/10

Education This parameter provides an evaluation of a company’s capacity to work with beginners. Only quality training and provision of full and unbiased information can help novice traders and investors minimize the risks of losing money, even when working with top-ranked companies. Brokers with useful educational and informational tools, including webinars, tutorials, podcasts and articles, receive higher scores.

4.11

/10

Geographic Distribution of NovaDAX Traders

Popularity in

99.12%
BR
Brazil
2.18%
PT
Portugal
2.12%
RU
Russian Federation
2.08%
US
United States
2.04%
ES
Spain
2.46%
Others
Others

User Satisfaction i

19 comments
Total score:
5.8 /10

Share your experience

  • Best
  • Last
  • Oldest
Avatar
Avatar
sunmetal
7 weeks ago

I have been working with novadax for 3 years with breaks. My impression is good — withdrawals are problem-free. I believe that those who run from broker to broker searching for a better place will always look for the negative, as they need to somehow justify themselves. Indeed, novadax is not perfect, but it is definitely not a bucket shop.

Avatar
Avatar
Russellbimb
1 year ago

Hi all! I lost $800 with NovaDAX. It's all because of the poor quality of their trading platform. It doesn't work correctly. Rather, it’s probably correct for the company, but it won’t work here to make money. She just has her own life, as she wants and works.

Avatar
Avatar
rikamunafx
2 years ago

I recommend NovaDAX to traders of any level. Beginners will be pleasantly surprised by the low fees, which can be made even lower with the help of bonuses. With the growth of experience and the amount on the deposit, a broker may continue to improve his conditions, and when the balance reaches 500,000 reais, the commission becomes purely symbolic at 0.07%. The advantage of NovaDAX is that investment solutions for generating passive income are available on this exchange. Because the trading conditions and security guarantees are excellent here, I regularly trade on Nova DAX.

Avatar
Avatar
timoto
2 years ago

I'll start with what I miss in NovaDAX such as you can't link your bank card to your account and carry out all transactions directly from it, as competitors offer. I had to sacrifice convenience for the sake of profitable commissions, which I did not find with other crypto brokers. The fees themselves are roughly equal to those charged by other companies, but if you apply available bonuses to them, the situation changes dramatically. Some pairs can even be traded for free. In short, I am partially satisfied with the conditions of Nova DAX.

Avatar
Avatar
nave232
2 years ago

For a long time, I traded small amounts on NovaDAX, kept my deposit balance at the level of 1,000 reais, and immediately withdrew the balance. Now I understand that I was wrong, because the more assets you keep on deposit, the lower the brokerage commission. I am still not up to the highest level with a commission of 0.07%, since I need a balance in the equivalent of 0.5 million reais. But now I pay a commission much less than at the beginning of cooperation. There are other ways to lower fees. For example, this broker constantly holds promotions, which it informs the public via the official website.

Avatar
Avatar
MARTHA
2 years ago

The NovaDAX exchange is said to be registered in Brazil. But nowhere on the site is there any registration information. If this exchange has a legal address, then it must be indicated. Further. The support service, as indicated on the site, works 24/7. That is, anyone can get an answer to their question at any time. But I have already sent four letters within two weeks to NovaDAX, but have not received an answer. I do not recommend working with NovaDAX!

Avatar
Avatar
sami656
2 years ago

I have been working at Nova DAX for half a year and I am 100% satisfied with the level of its security. Sometimes it seems to me that the broker is too reinsured. Yesterday, I wanted to apply for a withdrawal, but I forgot my password to enter my account. I restored it via mail quickly, but the withdrawal was blocked for a day to check the data! As for NovaDAX commissions, I can say that they depend on the size of your deposit, but can also be reduced with bonus points, so even beginners with small capital can work here comfortably. NovaDAX has no serious disadvantages, so I trade here frequently.

Expert Review of NovaDAX

The NovaDAX cryptocurrency exchange has been operating since 2018. It is headquartered in Sao Paulo. Brazilian traders popularized the site. After it added the possibility of depositing funds in EUR, the exchange expanded to the whole world. Clients are attracted by the stability and transparency of the platform.

A valid registration number NIRE 35235369291 and license number CNPJ 31.745.082/0001 are issued by the Brazilian Federal Tax Office. During the entire website’s history, there has not been any evidence found of tax evasion, financial fraud, or failure to fulfill obligations to customers.

The cryptocurrency trading terms are generally comfortable. There are most major cryptocurrencies and lots of trading fiat cryptocurrencies with the BRL. There is no leverage, only standard accounts. The exchange is characterized by a high level of security and stability. No technical problems were noticed during the testing of the site.

The website provides various bonuses (including starting bonuses for new users). There is an internal point system that allows you to get a discount on trading commissions. Proprietary plastic cards, which can be used for offline payment and offers cashback points as a percentage of the purchase, can be considered a unique feature of the exchange.

Anton Kharitonov

Anton Kharitonov

Financial expert and analyst at Traders Union

Dynamics of NovaDAX’s popularity among
Traders Union’s traders, according to 2023 data

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mar.
Apr.
May.
Jun.
Jul.
Aug.
Sep.
Oct.
Nov.
Dec.

Investment Programs, Available Markets, and Products of the Crypto Exchange

NovaDAX allows its clients to passively earn by investing in cryptocurrency. The investment system is presented in a classic staking format with a deposit and annual interest. The website has a regularly updated pool of official partners. These partners need investments to develop their blockchain projects. You also can lend cryptocurrency to its partners, receiving in return interest on the loaned deposit.

Investment programs are divided into two categories: fixed or flexible. If the deposit is fixed, the investor cannot withdraw it before the specified period expires. If the deposit is flexible, the investor can withdraw it at any time, but in this case, the interest payments are reduced. 

The second category of programs is daily and long-term programs. Daily programs involve deposits for a day. At the time of the return of the deposit the next day (before noon or after noon) the investor gets the earned interest as well.

Long-term deposits are the most profitable in terms of interest rates. The average rate is 4% per annum. The period of the deposit and the asset differ depending on the program selected. All active programs are available in the "Investments" section of the personal account. It also displays the estimated income, terms of active programs, and other information, as well as options, including an interface for making deposits and withdrawals.

Important!

If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.

NovaDAX’s affiliate programs

NovaDAX has implemented a standard referral program with fixed payments. The exchange client can earn money from invited users. To do this, find a referral link in your personal account and publish it on any site. Each user who follows your link and registers on the cryptocurrency exchange will become your referral.

The referral gets10 BRL (Brazilian reals) and brings the same amount to you. To get a referral bonus, the referral has to fulfill one condition: replenish the amount of over 100 BRL within 30 days from the date of registration. The bonus is one-time only, and in the future, the user remains your referral but doesn’t bring you any profit.

The program is single-level, that is, you don’t get bonuses for users who were invited by your referrals. Only verified users who have confirmed their data can participate in the program. No further action is required.

Trading Conditions for NovaDAX Users

To start trading on the NovaDAX exchange, go through the registration procedure, and then the verification procedure (confirm the data entered). This is necessary to protect against bots, fake accounts, and scammers. Further, you will have access to full functionality, but you will not be able to trade until you deposit the amount of ₿0.0005 or more. After depositing, you may trade any positions at your discretion. The exchange doesn’t set any restrictions, but there is no leverage on the website, that is, you can trade only with personal funds. Technical support is provided by the ticket system in the "Support Center'' section. You will get the answers by email. Despite there being no call center, technical support works quickly and is highly appreciated by customers.

₿0.0005

Minimum
deposit

1:1

Leverage

24/7

Support

💻 Trading platform: In browser - TradingView
📊 Accounts: Standard
💰 Account currency: Cryptocurrencies, fiat currencies
💵 Replenishment / Withdrawal: Bank cards and accounts, electronic and cryptocurrency wallets
🚀 Minimum deposit: ₿0.0005 
⚖️ Leverage: 1:1
💼 PAMM-accounts: No
📈️ Min Order: From 0
💱 Spread: Market
🔧 Instruments: Cryptocurrencies, fiat currencies
💹 Margin Call / Stop Out: No
🏛 Liquidity provider: No
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Orders execution: n/a
⭐ Trading features: All popular cryptocurrencies, BRL, quick exchange service, exchange and OTC trading, internal points system with the possibility of reducing commission fees, modern level of data and funds protection
🎁 Contests and bonuses: There are bonuses (welcome, rebates, and trading volumes)

Broker comparison table of trading instruments

NovaDAX Bybit OKX XT.com Poloniex Bithumb
Forex No No No No No No
Metalls No No No No No No
Crypto Yes Yes Yes Yes Yes Yes
CFD No No No No No No
Indexes No No No No No No
Stock No No No No No No
ETF No No No No No No
Options No No No No No No

NovaDAX Commissions & Fees

Information
The NovaDAX cryptocurrency exchange charges commission fees for all trading operations. The amount of the fee doesn’t depend on the asset or the trading volume (as is the case for most other cryptocurrency exchanges). The size of the commission is influenced only by the user's status in the system. This status is determined by the number of points that are given for actions of two types, such as the trading operations and payments using an exchange card.

Points are awarded for all trading operations in crypto-to-crypto and crypto-to-fiat pairs at the rate of 1 BRL = 1 point. The card brings in points at 10% of the amount of the purchase paid. The novice user gets 3,000 points as a welcome bonus after registration and verification. 

Commissions depends on points, as follows:

  • 0-2,999 points – 0.5%/0.3% for taker/maker;

  • 3,000-9,999 points – 0.4%/0.2% for taker/maker;

  • 10,000-4,999,999 points - 0.3%/0.1% for taker/maker;

  • from 5,000,000 points - 0.21%/0.07% for taker/maker.

Please note that only points accumulated in the last 30 days shall be taken into account. Increasing the client's status with points also provides a discount for the exchange service and reduces the commission for withdrawing funds.

Account type Spread (minimum value) Withdrawal commission
Standard up to 0.5% per application Yes

Withdrawal commissions and limits depend on the asset, points accumulated, and on the chosen method of account verification. For example, you cannot withdraw less than ₿0.001, and the maximum limit is determined by simple or advanced verification (it is increased to ₿10 in 24 hours for advanced one). Please note that fees and limits may vary for institutional accounts. Also, they may differ for residents of different countries (read more in the "Fees and limits” section).

Broker Average commission Level
NovaDAX $0.5 Medium
Bybit $20 High
Bitfinex $0.1 Low
Logo NovaDAX
$0.5
$20
$0.1

Contacts

Foundation date 2018
Registration address Avenida Paulista, 1842, Torre Norte Conj 155 Sala 10 - CEP 01310-945 - São Paulo
Official site
Contacts
All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.
NovaDAX Review NovaDAX Review

Articles that may help you

Webull Crypto Review. How to Buy Crypto on Webull?
For Beginners
Webull Crypto Review. How to Buy Crypto on Webull?
Chinmay Soni - April 2024
How to Buy Coinbase (COIN) Stock in 5 Steps
For Beginners
How to Buy Coinbase (COIN) Stock in 5 Steps
Ivan Andriyenko - April 2024
Top 10 Metaverse stocks to buy in 2024
For Beginners
Top 10 Metaverse stocks to buy in 2024
Mikhail Vnuchkov - April 2024
10 Best Crypto Trading Bots for 2024 - Free and Paid
For Beginners
10 Best Crypto Trading Bots for 2024 - Free and Paid
Mikhail Vnuchkov - April 2024
Best Crypto Arbitrage Strategies for 2024
For Beginners
Best Crypto Arbitrage Strategies for 2024
Winnifred Emmanuel - April 2024
10 Best Crypto to Buy Now
For Beginners
10 Best Crypto to Buy Now
Vuk Martin - April 2024
Top Sites For Crypto News Alerts In 2024
For Beginners
Top Sites For Crypto News Alerts In 2024
Winnifred Emmanuel - April 2024
Most Successful Crypto Traders To Follow
For Beginners
Most Successful Crypto Traders To Follow
Jason Law - April 2024
7 Best free cloud mining sites and services in 2024
For Beginners
7 Best free cloud mining sites and services in 2024
Ivan Andriyenko - April 2024

FAQs

Do reviews by traders influence the NovaDAX rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about NovaDAX you need to go to the broker's profile.

How to leave a review about NovaDAX on the Traders Union website?

To leave a review about NovaDAX, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about NovaDAX on a non-Traders Union client?

Anyone can leave feedback about NovaDAX on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Traders Union Recommends: Choose the Best!

Logo Bybit
Open an account
Your capital is at risk.
Logo XT.com
Open an account
Your capital is at risk.
Logo OKX
Open an account
Your capital is at risk.