Financial Commission Adds Nova Capitals 247 to Its Warning List

The Financial Commission, an independent external dispute resolution (EDR) organization, announced that it has added the broker Nova Capitals 247 (Nova Capitals 247 LLC) to its warning list as it has been notified by concerned traders regarding the company and its associated website.

CMC Markets Connect's Andrew Wood Talks How Volatility Indicator Helps Institutional Clients​

Upon reviewing the submitted information from potential customers of this company, the commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors.

As a result, the commission does not recommend doing business with this entity, either individuals purporting to represent this broker on social media and in private messages on popular messaging apps.

In its latest action, the commission has added Global Trader,a fully-owned investment banking subsidiary of Global Trader Bank, one of the largest islamic banks in the world to its warning list.

Earlier this month, the Financial Commission has reported the amounts of submitted complaints and other key metrics for October 2021, showing an increases in amounts awarded to traders. According to the results, the commission saw new filed complaints slightly decrease by 0.64% and resolved complaints fall 8% MoM in October compared to the last month.