Reliability of Nova Commercial Finance Limited: expert analysis

A wide range of assets and the ability to trade popular cryptocurrencies are offered by the British company Nova Commercial Finance Limited. There are not many reviews about the work of this broker yet, which may raise doubts about their reliability. Therefore, we conducted a detailed analysis of the company’s activities to draw conclusions about its trustworthiness.

Registration and contacts of Nova Commercial Finance Limited

Information about the intermediary in the Russian-speaking Internet is scarce, which can be explained by the recent launch of the website. There is no information about rebranding, raising questions about how the company operated without its own domain before. The anonymity of the founders is also suspicious: why hide information about the registrar from public access if not to deceive?

The website novacommercialfinance.com is actually a simple one-page site created hastily, without proper content and details. It only contains images, self-promotion, and calls to visitors to register and open a trading account quickly.

At the bottom of the page, the address of the company is indicated, but this is not the location of the office of Nova Commercial Finance Limited, but the place of its registration. There are no other addresses, indicating that interaction occurs solely over the phone or remotely. There are no accounts on social networks, sections with reviews, or detailed information.

A check showed that Nova Commercial Finance Limited was registered in the UK back in 2015 but ceased to exist in 2020. The domain novacommercialfinance.com registered in 2022 indicates that the organizers should have known about the absence of the legal entity Nova Commercial Finance Limited. But this did not stop them from using someone else’s name and pretending to be representatives of the broker.

Licenses, regulators’ warnings

The original Nova Commercial Finance Limited had a license from the British regulator, but after liquidation, it lost this status. Shortly after, a warning appeared on the FSA website about the appearance of clones of the former authorized company in the form of scammers.

The regulator warns the public to avoid contact with Nova Commercial Finance Limited, as this company does not have a license and is not authorized to provide its services. The warning was published in February; and in the following month, scammers registered a new domain and started actively attracting users from Russia and Poland. Neither the Central Bank of the Russian Federation nor the Polish Financial Supervision Authority issued corresponding licenses.

A search in the Central Bank of the Russian Federation’s database did not reveal any information. Similarly, the official KNF website reports no search results.

Trading conditions at Nova Commercial Finance Limited

The organizers clearly rushed with the launch of the site, so a detailed description of the trading conditions turned out to be unavailable. The only mention is the ability to choose from four accounts with clearly hidden parameters and conditions. Below are the main characteristics of the trading accounts:

“Standart”. Minimum deposit – from $200, access only to the forex market, spread from 1.5 points,
“Gold”. Initial deposit amount – from $1000, trading assets alongside commodities, spread from 1 point,
“Platinum”. Initial deposit – from $5000, access to all assets except indices, spread is 0.7 points,
“VIP”. By depositing an amount from $10,000, the trader gains access to all markets, a minimum spread of 0.5 points, and… that’s it. No additional benefits included.

It is obvious that investing significant amounts is impractical, as the scammers do not offer any convincing conditions for successful trading.

Reviews on Nova Commercial Finance Limited

Since the website was recently created, there are no Russian-language reviews of Nova Commercial Finance yet. However, we found stories from Polish traders who are outraged by the irresponsible behavior of scammers.

Additional reviews from Russian-speaking clients will be added as they become available.

Activities of Nova Commercial Finance Limited employees

Organizers of such “pseudo-brokers” always apply the same working tactics. They hire a group of phone operators and instruct them to find naive potential clients. The phone number database is purchased on the black market or collected using phishing methods.

Experienced traders immediately recognize that they are dealing with scammers. Therefore, the target audience remains underprepared people unfamiliar with stock market activities. It is on them that scammers focus, promising easy money and big winnings based on following the instructions of a financial analyst. In reality, this instruction involves constant extortion of funds, hiding behind better conditions or promises of guaranteed profits.

In addition to phone fraud, scammers may try to gain access to a trader’s financial account. They offer to install third-party programs that provide remote access to the computer. It is claimed that this is necessary to understand the user interface of the trading platform, but at the same time, criminals install malicious software that collects personal data, passwords from bank accounts, access codes, and other confidential information. User reviews note that scammers can use stolen data to submit false applications for loans and loans.

Conclusions about Nova Commercial Finance Limited

Nova Commercial Finance company does not deserve trust, as it represents a typical financial scam. Criminals exploited the extinguished title and details of the closed company to deceive users and create the illusion of an honest partner. However, after minor checks and review studies, this deceit quickly unravels.