Novatechfx com: Journalist Jamie Cartwright reached out to Novatechfx comto help write an article, which meant disambiguating the notoriously complex world of FOREX trading. The company gladly accepted, eager to share its accumulated experience on the subject with the public. The article, titled Novatechfx comDiscusses the Ins and Outs of FOREX Trading, was published on October 12, 2021 by an online periodical that focuses on issues related to trading, entrepreneurship and technology.
At the start of the article, Novatechfx comgets to work demystifying exactly what FOREX trading is and how it works in a way that can be understood by the average layman. novatechfx comcom The FOREX market works like this,” the company writes, “at any given time, some people want to buy or sell currencies, and those people offset the demand for a currency (the amount they want to buy). Depending on how much people you are buying or selling at that time, you can determine the strength of your demand for that coin.Then based on the number of buyers and sellers, you can calculate where the price should be.The stronger the demand , the more expensive it should be (and vice versa). This is how prices are determined by supply and demand at any given time of day.
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Novatechfx com– why I said no to this crypto
Novatechfx comis an opportunity I heard about over a year ago and dismissed due to similarities to Cash FX, another “forex”/cryptocurrency platform I chose not to get involved. Below, I share the reasons why I said “No”, despite the fact that a lot of people are making money.
Having seen Novatechfx combefore, I knew it. However, novatechfx comcom the opportunity was shared with me again and I had heard of many people who were making good passive income from it, so I thought I might check it out.
Also, the same person who shared it with me introduced me to Automated Capital, another passive forex-based opportunity. I had some free time, so I thought I’d sign up for both opportunities and do a “travel” style review and experience post; Compare opportunities and results.
NovaTechFX: first impressions
Looking at novatechfx.com, little had changed from my first impressions a year earlier; focuses much more on the “opportunity”/MLM than the “product”, forex trading.
It was the big stop which meant I couldn’t even check in earlier. In fact, when I first looked at it, I was totally confused as to what they actually offered; all I saw was buying subscriptions and compensation plans.
However, this time was different: he had a purpose. I wanted to compare experiences and results, so I went ahead and delved a little deeper into their content and offering.
The NovaTechfFX homepage
In terms of information and sales, as far as each product or service website goes, there was very little (virtually nothing) about forex trading or what the Nova Tech product actually is, how it works, its key features, benefits, etc.
Website content is sparse; however, what is there emphasizes a referral-based business opportunity, rather than a product.
I am not against MLM, my opinion is simply that the product/service/offer should always come first and come first; any associated business opportunity, sponsorship, affiliate program, etc. should come later.
The Opportunity pages
Clicking on the Opportunity link presents you with three options. One of which is “From the CEO”, a short page with a quote from Robert Kiyosaki. Again, there is no actual mention of a forex trading opportunity. Rather, it is a vague business and entrepreneurial opportunity.
One of the most informative pages on the site is to follow the Compensation Plan link. Share 7 ways to get paid. Again, it was all about MLM style stuff; referral bonuses, fast track bonuses, leaderboard achievements and all sorts of other weird language with rich lifestyle images.
Novatechfx com‘Get Started’ process
At this point, after reviewing the website further. I was wondering if I wanted to join, but I was encouraged to have seen other people’s earnings and was interested in doing a review/a “benchmark” experience with Automated Capital; that would be an interesting article
I didn’t want to buy right away. So I clicked on the “Get Started” link which takes you to a rather long form to fill out.
And, you guessed it: the first priority was “the business opportunity”; Setting yourself up as an affiliate and creating your personal website subdomain for referrals was the first thing that was done.
When I finally got in, the first thing I noticed again was the focus on referrals. My entire NovaTech dashboard was dominated by my personal referral link. And most of the menu items were related to MLM (multi-level marketing) activities. References, holding tanks, teams, downline, legs, people who reach the rank and so on.
You can buy crypto and deposit in the wallet. Visit the message center and see all kinds of marketing and trading materials.
It was like there was no product and I entered a portal dedicated only to MLM and network marketing.
Again, everything was painfully slow to load.
I logged out and revisited the NovaFX login page. Always slow. I tried to log in with another browser. The same problem.
Frustrated with the registration process, Novatechfx Com and not having been very enthusiastic at first, I almost gave up.
Several hours later I came back and it was a little faster.
I don’t even know how to describe it and I haven’t even taken the time to try to fully understand it.
But suffice it to say that while there is little information available on their core product offering. Other than a back-office/dashboard which is almost entirely MLM, there is a 20-page PDF dedicated to their benchmark compensation plan.
Is NovaTech a pyramid scheme?
If by pyramid scheme you mean ponzi, I really don’t know.
They put a heavy and massive emphasis on MLM recruiting which has a “pyramid” structure. However, most businesses and organizational structures are some kind of pyramid…Novatechfx Com even those that aren’t “MLM”.
I think this question has more to do with the ponzi aspect. Are you making more money from recruiting and package fees than your primary business “product”?
Again, I can’t answer that, however, if you look at the site and look at the dashboard. Ie the network marketing “business opportunity”. Recruiting and packages represent about 90% of the content and orientation/priority in terms of attention and “real estate” screen.
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