Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
FXNovus Pros & Cons
FXNovus is an online brokerage company of the next generation. FXNovus is regulated by the FSCA of South Africa, License No. 50963 (Registration No. 2020/183344/07). The company offers unparalleled trading opportunities for every customer to plan their way to success and take over the ever-changing world of trading having a webTrader platform, desktop app, and mobile app at their disposal.
TU Expert Verdict
FXNovus carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
Top-5 Brokers Traders Prefer
FXNovus User Reviews
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5-star
22%
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4-star
0%
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3-star
67%
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2-star
0%
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1-star
11%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria5 /10The trading and non-trading commissions of FXNovus have been analyzed and rated as having Medium fees, with a fees score of 5/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- No deposit fee
- No withdrawal fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of FXNovus with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, FXNovus’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
FXNovus Standard spreads FXNovus OANDA FOREX.com EUR/USD min, pips 0.3 0.1 0.7 EUR/USD max, pips 1.5 0.5 1.2 GPB/USD min, pips 0.5 0.1 0.9 GPB/USD max, pips 1.7 0.5 1.4 Does FXNovus support RAW/ECN accounts?
As we discovered, FXNovus does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with FXNovus. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
FXNovus Non-Trading Fees FXNovus OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0-30 0-15 0 Inactivity fee ($, per month) 30-180 0 15 -
Is FXNovus Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria6.3 /10FXNovus has a safety score of 6.3/10, which corresponds to a Medium security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Negative balance protection
- Not tier-1 regulated
- Track record of less than 8 years
FXNovus Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level 
FSCA SA Full Name Financial Sector Conduct Authority of South Africa Country of regulation South Africa Investor Protection Fund No specific fund Regulation Level Tier-2 FXNovus Security Factors Foundation date 2021 Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.5.1 /10FXNovus offers the following account options: Demo, Standard, Cent, Micro, Swap Free, VIP.
However, FXNovus does not provide an ECN account with direct market access, which may be a drawback for experienced traders or scalpers seeking the lowest spreads.
- Exclusive VIP account with enhanced trading conditions
- Standard account with balanced trading conditions
- Forex account with Micro lots
- No ECN/Raw spread account
FXNovus account types vs top competitors FXNovus Plus500 Trading.com Standard YesYesYesECN/Raw spread NoNoNoDemo YesYesYesCent YesNoNoMicro YesNoNoSwap Free YesNoNoVIP YesNoNoManaged NoNoNoFXNovus accounts trading conditions
FXNovus offers accounts with leverage up to 1:400, which support STP (Straight Through Processing) trading. The base currencies are USD, EUR, GBP, and CHF. The accounts vary in terms of spreads and minimum deposit requirements. Cent accounts are not available.
Account types:
Account Type Description Classic Spreads start at 2.5 pips for Forex on the EUR/USD pair. The minimum deposit is $250. This is the only account type where swap discounts are not available. Silver Accounts with spreads starting from 2.5 pips. The initial deposit must be no less than $10,000. Gold The minimum spread for EUR/USD is 1.8 pips. The deposit amount starts from $50,000. Platinum Accounts with spreads starting from 1.4 pips. After opening the account, it must be funded with at least $100,000. VIP Accounts with the lowest spreads, with a minimum value of 0.9 pips. The initial deposit amount is $250,000. The broker offers a demo account for risk-free virtual trading. The trader does not need to deposit money as trades are executed using a notional USD balance.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology6.3 /10FXNovus received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
FXNovus provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Bitcoin (BTC) accepted
- Minimum deposit below industry average
- Low minimum withdrawal requirement
- Bank wire transfers available
- Limited deposit and withdrawal flexibility, leading to higher costs
- USDT payments not accepted
- Wise not supported
What are FXNovus deposit and withdrawal options?
FXNovus provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, PayPal, BTC.
FXNovus Deposit and Withdrawal Methods vs Competitors FXNovus Plus500 Trading.com Bank Wire YesYesYesBank card YesYesYesPayPal YesYesNoWise NoNoNoBTC YesNoNoWhat are FXNovus base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. FXNovus supports the following base account currencies: USD, EUR, GBP, CHF.
What are FXNovus's minimum deposit and withdrawal amounts?
The minimum deposit on FXNovus is $250, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact FXNovus’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria6.8 /10FXNovus offers a limited selection of trading assets compared to the market average. The platform supports 225 assets in total, including 45 Forex pairs.
- 45 supported currency pairs
- Copy trading platform
- Indices trading
- Limited asset selection
- Futures not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by FXNovus with its competitors, making it easier for you to find the perfect fit.
FXNovus Plus500 Trading.com Currency pairs 45 60 69 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 225 2800 69 Stocks YesYesNoCommodity futures YesYesNoCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesNoStock indices YesYesNoOptions NoYesNoInvestment options
We also explored the trading assets and products FXNovus offers for beginner traders and investors who prefer not to engage in active trading.
FXNovus Plus500 Trading.com Bonds NoNoNoETFs NoYesNoCopy trading YesNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at FXNovus by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.7 /10We successfully registered an account with FXNovus in 20 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at FXNovus is $250. Overall, the account setup process is efficient and suitable for most traders.
- Low minimum deposit requirement
- Quick KYC verification (1 business day or less)
- Fully online account opening process
- Registration process may take longer than expected
FXNovus account opening FXNovus Plus500 Trading.com Online Registration YesYesYesMinimum deposit $250 $100 $50 Mandatory KYC YesYesYesRegistration time (min) 20 20 KYC time (days) 1 3 2 Is FXNovus available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
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Customer Support
Score:We evaluated Customer Support at FXNovus by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria3 /10The broker’s customer support shows noticeable weaknesses in responsiveness or communication quality. Delays in replies are common, and resolution may require repeated contact.
In TU testing, response speed was below expectations, and assistance was limited in depth. Traders who rely heavily on support may experience inconvenience.
Contacts Foundation date 2021 Registration address Unit 16B7, Sinosteel Plaza, 159 Rivonia Road, Morningside Ext 39, Sandton, 2146, Gauteng Regulation FSCA Licence number:
50963Official site https://www.fxnovus.com/ Contacts support@fxnovus.com +27101571900
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FAQs
How is FXNovus regulated and what does its safety score indicate for traders?
FXNovus is regulated by the Financial Sector Conduct Authority of South Africa (FSCA SA), a Tier-2 regulator, and has a Traders Union safety score of 6.3/10, which corresponds to a medium security level. The broker offers negative balance protection and requires KYC verification, but it is not Tier-1 regulated, has no specified investor compensation fund, and has a relatively short track record since 2021, which may increase certain risks compared with longer-established, Tier-1-regulated firms.
What trading account types and key conditions does FXNovus provide?
FXNovus offers several live account tiers (Classic, Silver, Gold, Platinum, and VIP) with different minimum deposits and spreads, as well as demo, Standard, Micro, Swap Free (Islamic), and VIP options listed in the overview. Leverage is available up to 1:400 with STP execution and base currencies in USD, EUR, GBP, and CHF, while ECN/Raw spread accounts and managed accounts are not offered and Cent accounts are noted as not available in the detailed trading conditions.
What do FXNovus user reviews and feedback scores reveal about overall satisfaction?
FXNovus has a user satisfaction score of 6.4/10 based on 9 reviews, with most ratings clustered in the 3-star range and smaller portions of 5-star and 1-star reviews. According to user reviews, this distribution suggests a mixed experience, with neither consistently high praise nor predominantly negative feedback.
How do users describe the FXNovus trading account opening experience in their reviews and feedback?
The trading account opening process at FXNovus is described as fully online, with registration completed in about 20 minutes and KYC verification typically finalized within 1 business day. The minimum deposit is $250, and while the process is generally characterized as efficient and suitable for most traders, the review notes that registration may take longer than some users expect.
What do reviews and feedback say about FXNovus customer support quality and responsiveness?
The customer support at FXNovus is described as having noticeable weaknesses, with delays in replies and limited depth of assistance reported in testing. According to user comments in the review, traders who depend heavily on prompt and detailed support may find the experience inconvenient due to the below-expected response speed and the need for repeated contact to resolve issues.
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