Novatech Review — Investment Scam MLM or Pyramid Scheme?

Novatech Review — Investment Scam MLM or Pyramid Scheme?

Today we will be reviewing an MLM company known as NovaTech. Is this company legit? Find out in this NovaTech review.

MLMs are problematic since they have always sparked a lot of debate throughout the years. Every year, a large number of individuals are duped by them, and despite causing a great deal of distress, these businesses continue to profit.

I’ve examined hundreds of MLMs now, and what I’ve seen is that they’re all the same fraud repackaged in different ways. A lot of internet gurus seem to like promoting them as well.

Yes, you read that accurately. MLMs are essentially rehashed copies of each other designed to hide the true nature of the business – a pyramid scam.

Even if this is true, people continue to be conned. This is due to the fact that not everyone in a company does their research first.

It’s a good thing you chose to conduct some research before handing over your cash to the greedy company. That was a wise choice, and I hope you continue to do so in the future.

Before you decide to look into joining this company, you should read this NovaTech review first. You should check if it is worth your time before you make such a huge decision.

DISCLAIMER: This is a fully independent review. I’m not affiliated with NovaTech in any shape or form whatsoever.

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NovaTech Review: Quick Details

  • Name: NovaTech
  • Website: https://novatechfx.com/
  • Socials: Twitter
  • Type: Multi-level marketing company
  • Niche: Crypto, Forex trading
  • Owner: No information available
  • Recommended?: MLMs aren’t lucrative in any way. As a result, I will never advise anyone to sign up for one. Also, I have a better opportunity waiting here for you.

What is NovaTech?

NovaTech Review - Logo

NovaTech is an online multi-level marketing company that allows you to profit from their trading bot technology as well as by recommending others and creating a team under you. The company is in the crypto and forex trading niche.

When we look at any online money-making opportunity, one of the first things we search for is information on who manages or owns the business. This allows us to understand more about the owner’s history and expertise while also instilling confidence owing to the transparency.

It seems like NovaTech’s corporate pages currently do not include any information on who owns or operates the firm.

Upon researching the domain details, and I have discovered the following:

  • On June 17th, 2019, the domain “navatechfx.io” was registered.
  • NovaTech LTD is the stated owner of the company.
  • The company’s address was registered to be in Vatican City.
  • The firm claims to be registered in the United States, the British Virgin Islands, and in Estonia, at least according to its website.

If you asked me though, if they are really registered in the United States to provide what they promise in terms of a ROI, it would need a lot of money and SEC approval.

Novatech’s website looks simple enough to navigate, if not for all the jargon they have on their front page. I don’t think newbies would be able to navigate it properly, as they would be a little confused as to whatever is going on.

However, there are several aspects of this notion that has made me mistrust it.

According to the website, you do not need any previous expertise to utilize the platform. Any seasoned trader, on the other hand, would tell you otherwise.

For new traders, trading platforms might be daunting. As a result, orienting customers to a platform is critical.

Regrettably, the firm only provides instructional materials to those who make an investment. This implies that regardless of your trading skills, you are required to put money into the firm.

This just demonstrates a lack of concern for consumers’ benefit. You should never put your money into a corporation that isn’t concerned with your well-being.

What Does NovaTech Offer?

In this portion of the NovaTech review, we’ll look at the items that NovaTech has to offer.

To be compliant with MLM regulations in the United States, you must also sell retail items when you offer an MLM organized business plan as NovaTech does. Unfortunately, the firm does not currently peddle any retail items.

The primary service that the firm provides is a trading bot that is intended to trade in crypto and other currencies in order to make a lot of money by doing so.

Its goal is to make the most of all trading opportunities in order to maximize earnings. That is how the business promises to be able to maintain the ROI returns that they will give to you.

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NovaTech Compensation Plan

Stock trading

In this section of this NovaTech review, we will be looking into the ways you can possibly make money in the MLM company.

ROI Commissions

The first step in getting started is to purchase one of the company’s packages. Although the firm states that you will get a return on your investment, it does not really define the percentage or frequency of the return.

The only mention of a return on investment percentage is the 1% bonus that VIP members will get every month on top of all other package tiers.

  • Bronze Package –  investment of $500 – $2499, $35 monthly fee
  • Silver Package –investment of $2500 – $4999, $30 monthly fee
  • Gold Package – investment of $5000 – $9999, $25 monthly fee
  • Platinum Package – investment of $10,000 – $24,999, $20 monthly fee
  • VIP Package – investment of $25,000 or more

Withdrawing your fees require fees, and it depends per level.

  • Bronze Package Level – 35% withdrawal fee
  • Silver to Platinum Package Levels – 30% withdrawal fee
  • VIP Package Level – 25% withdrawal fee

Ranks and Qualifications

The higher your rank, the more money you can earn from commissions. Simple as that.

This is the company’s way of motivating their members to continue recruiting more people.

  • Associate Rank – Join the company as an investing affiliate member.
  • Junior Executive Rank – Invest at least $2500, recruit 3 Associate Ranked members, and make $50,000 in total investment team downline volume.
  • Executive Rank –Invest at least $5000, recruit 2 Junior Executive Ranked members, and make $500,000 in total investment team downline volume.
  • Senior Executive Rank – Invest at least $10,000, recruit 2 Executive Ranked members, and make $2,000,000 in total investment team downline volume.
  • Director Rank – Invest at least $50,000, recruit 2 Senior Executive Ranked members, and make $10,000,000 in total investment team downline volume.
  • Ambassador Rank – Invest at least $100,000, recruit 2 Director Ranked members, and make $50,000,000 in total investment team downline volume.

Recruitment Commissions

Anytime you successful recruit someone into joining the company, you will be earning commissions depending on the package they choose.

  • Bronze Package – $50 commission
  • Silver Package – $100 commission
  • Gold Package – $150 commission
  • Platinum Package – $200 commission
  • VIP Package – $250 commission

Nova-Tech provides two unique bonuses when you first join, both of which apply to this section:

  • Recruiting 3 Bronze Packages within 45 after you start will earn you additional $100 in commissions.
  • Recruiting 5 Silver Packages within 45 after you start will earn you additional $300 in commissions.

Bonus Pool

To qualify for this commission incentive, you must be in the Senior Executive rank or above. This bonus commission represents a proportion of the company’s overall earnings.

  • Senior Executive Rank – 2% from the Senior Executive Pool.
  • Director Rank – 3% from the Director Pool.
  • Ambassador Rank – 5% from the Ambassador Pool.

10 Shocking MLM Statistics that You Need to Know!

  • Almost 99% participants of all multi-level marketing companies lose money, according to the FTC.
  • There are 38% more chances of you profiting from your own any kind of small business than joining these MLMs.
  • Success rate of an online business, which will give you financial and time freedom, is 20% more than joining MLMs for making money.
  • The odds of you winning a lottery worth $10k among 10,000 people is 300 times higher than actually making money from MLMs.
  • According to the AARP foundation, 47% distributors of all MLMs lose their money. Apart from this, 27% do not make a single penny.
  • In the remaining 26% that actually make money, 53% of them make less than $5000/year.
  • 39% of those 53%, who are making $5000/year quit because recruiting and selling crappy products to friends and family members jeopardized their relationships.
  • Forget about building a long term business with MLMs, because 50% of all MLMs participants quit within one year.
  • 75% people that joined MLMs say that they will never again join any kind of MLM.
  • A poll was conducted in 2018 among 1050 MLM distributors and it was concluded that most of them made 70 cents an hour and 20% of them did not make a sale. 60% of them made less than $500 in sales over the past 5 years and 32% of them acquired credit card debt to finance their MLM involvements.

SOURCES:

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Why I Don’t Recommend NovaTech

Online Stock Trading 2

When you are interested with joining a company like NovaTech that claims to be able to maintain a ROI or any profit from trading, you should at least ask to view some of their previous figures and records to back up their claim.

These records shouldn’t be a secret or protected information, particularly when you need to make these figures accessible for the government to view in order to stay in compliance with the law.

Also, the fact that they claim to be registered in the United States raises red flags. I highly doubt this though, as most companies couldn’t obtain the necessary requirements in the United States owing to the prohibitively high cost and difficulties.

Another thing is that the firm also does not provide any retail items, which is quite worrisome. This is in violation of US MLM laws, making it unlawful in the United States.

So I wouldn’t suggest joining an MLM because of all the controversies surrounding them. After all, they are not profitable, and they could get shut down anytime soon.

Alternatives to NovaTech

MLMs will always fail, regardless of the items or services they provide. As a result, I would never suggest that you join one.

So, do you think you’ve got what it takes to start a side company that can help you supplement your income? After all, a side hustle is intended to be something you do on the side of your normal employment.

Why not take on some more responsibility if you believe you are capable of doing so?

A decent side hustle should be something you like rather than something that demands you to know a lot about a lot of things you don’t know about.

You’ll also need a more steadfast, confident attitude if you want to make a lot of money in this side hustle you want to get into.

If you know where to search, you can find a lot of solid options and choices to pick from. All you have to do now is choose a good niche in which you believe you’ll be successful.

The perfect side hustle, in my opinion, should be easy to start and can produce a steady stream of revenue, no matter the circumstance.

Final Verdict – NovaTech Review

Before I end this NovaTech review, I would like to share a few more insights that could help you.

MLMs are, in general, a predatory and deceptive kind of business. It normally entices people with the promise of financial gain, but the reality is that 99 percent of those who try their hand at MLMs fail. Just a small percentage of people in MLMs are making more than minimum wage.

Only the top few people at the top of these corporations gain millions, while the rest of the organization suffers.

MLMs frequently charge a fee to advertise their products. They then force you to buy their products before giving you your commissions. As if that wasn’t bad enough, the business plan also requires you to solicit other people to join the con.

For the great majority of people, these firms are a waste of time, energy, and money. They want you to be able to take use of your most significant relationships by pestering them with predatory recruitment messages.

Most people who try to join MLMs lose money and lose confidence in themselves once they realized that they invested in something that wouldn’t pan out.

Instead of trying to join an MLM, I’ve got a terrific opportunity for you that isn’t a scam and will actually help you. It has worked for tens of thousands of people previously, and it just could work for you.

After all, aren’t you looking for a method to make money even though you work a full-time job?

More information about this fantastic opportunity may be found in the sections below.

Find a Great Money Opportunity Right Here, Right Now

Thank you for reading this NovaTech review.

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This opportunity is a good one, and it’s guaranteed to give you great results.

Before you think it’s just another scam, why don’t you try it for yourself? I guarantee you. This really works!

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See you on the other side.

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