Before opening or funding an account you should establish which legal entity you would be contracting with, what protections apply to you in your own country, and whether trading leveraged products is lawful and appropriate where you live. Regulatory protection is not uniform across jurisdictions, and the absence of a familiar compensation scheme is a material consideration. If you are unsure, obtain independent advice before you deposit.
Overview
The controls we operate
Six areas of control, each described in detail below. These are commitments about how we operate, written so you can hold us to them, not aspirational language.
Client-fund segregation
Client money is recorded and held separately from our own operating funds and is never used to meet business expenses.
KYC & AML programme
Document and biometric identity verification, sanctions and PEP screening, and ongoing transaction monitoring.
Data protection
Minimised collection, controlled access, encrypted transport, defined retention, and vetted specialist processors.
Execution & pricing transparency
Live spreads shown at the point of trade, disclosed swap rates, and honest description of slippage and gapping.
Complaints handling
A published procedure with defined acknowledgement and resolution targets and a route to independent escalation.
Client-facing disclosure
Risk warnings, product limitations and roadmap status published where clients will encounter them, not buried.
Control 1
Client-fund segregation
Money deposited by clients is recorded and held separately from the funds NOVEDOX uses to operate its business. The purpose is straightforward: your balance should not be exposed to the company’s commercial fortunes.
What this means in practice
- No operational use. Client balances are not used to pay salaries, suppliers, marketing or any other business expense.
- Separate records. Client entitlements are maintained in records distinct from corporate accounting, so the amount owed to clients is identifiable at any time.
- Regular reconciliation. Client-money records are reconciled against balances held, and discrepancies are investigated rather than carried forward.
- Deposit-flow separation. Cryptocurrency deposits are processed through our payment partner, so client funding flows are handled by infrastructure purpose-built for it.
What segregation is not
Segregation protects client money from being spent on the business. It is not a deposit-guarantee scheme, and it is not protection against trading losses. If you lose money trading, that loss is real and segregation does not reverse it. Read the Risk Disclosure before you deposit.
Control 2
KYC and anti-money-laundering programme
Financial platforms are an attractive route for laundering criminal proceeds, and a platform that does not know who its clients are is a platform being used for something other than trading. Our programme exists to prevent that, and, in the ordinary course, to stop somebody opening an account in your name or taking over the one you have.
Identity verification at onboarding
Identity verification is performed by our verification partner, Didit. Clients submit a valid government-issued identity document, passport, national identity card or driving licence, which is checked for authenticity and validity, and then complete a liveness selfie which is biometrically compared against the document photograph.
The liveness element matters: a static photograph can be taken from social media, whereas a liveness check requires the person to be genuinely present. Cases that cannot be resolved automatically go to manual review. Where verification fails or documents appear falsified, we may suspend features or the account, as provided in section 8 of the Terms & Conditions.
Sanctions, PEP and adverse-media screening
Clients are screened against applicable international sanctions lists, against politically exposed person (PEP) data, and for adverse media indicating financial-crime risk. Screening is applied at onboarding and repeated on an ongoing basis, because sanctions designations change after an account is opened.
A screening match does not automatically mean wrongdoing, name collisions are common, and matches are reviewed by a person before any action is taken. Where a genuine designation applies, we are obliged to act and may be restricted in what we can tell you.
Ongoing transaction monitoring
Account and funding activity is monitored for patterns inconsistent with genuine trading. Typical indicators include funding followed by immediate withdrawal with little or no trading, activity inconsistent with the profile given at onboarding, structuring of deposits to stay under thresholds, and attempts at third-party funding.
Where activity warrants it we may request further information about source of funds. These requests are not an accusation; they are a legal obligation, and a prompt, complete response resolves them quickly.
Prohibitions and record keeping
- One account per person. Multiple, shared or nominee accounts are prohibited.
- No third-party funding. Deposits must originate from a wallet or exchange account belonging to the account holder.
- Record retention. Identification and transaction records are retained for the period required by anti-money-laundering law, including after account closure. See the Privacy Policy.
- Reporting. Where a legal obligation to report suspicious activity arises, we comply, and law may prohibit us from telling you that we have done so.
Control 3
Data protection commitments
Identity verification requires us to hold sensitive personal information. We treat that as a responsibility rather than an asset, and the commitments below govern how we handle it. The Privacy Policy is the binding document; this is a summary of the principles behind it.
- Collect the minimum. We ask for what identity verification, account operation and legal obligation actually require, not for data that might be useful to marketing later.
- Use it for what it was collected for. Verification data is used for verification and compliance. It is not repurposed for advertising and it is not sold.
- Restrict access internally. Access to personal and identity data is limited to staff who need it for a defined task, and is logged.
- Encrypt in transit. Connections to the platform are encrypted. Passwords are stored only as salted hashes and cannot be read by anyone at NOVEDOX.
- Use specialist processors. Identity documents are handled inside Didit’s verification environment, and crypto settlement runs through NOWPayments, both specialists, both bound by contract on how they process data.
- Retain only as long as required. Data is kept for as long as needed to provide the service and to satisfy legal retention obligations, then deleted.
- Respect your rights. Subject to law and to anti-money-laundering retention requirements, you can request access to your data, correction of inaccuracies, and erasure. Requests go through the Support Center or support@novedox.com.
- Tell you if something goes wrong. Where a personal-data breach is likely to affect you, we will notify you and the relevant authority as required, rather than manage it quietly.
Control 4
Order execution and pricing transparency
Pricing is where trading platforms most often mislead, rarely by lying outright, usually by advertising a best-case number as though it were typical. Our approach is to publish costs where they are encountered and to describe execution behaviour honestly, including the parts that are not flattering.
How we present pricing
- Live spreads at the point of trade. The spread applying to an instrument is displayed in the terminal as it is, in real time. We do not headline a “from” figure on marketing pages that clients would not encounter in normal conditions.
- Swap rates disclosed per instrument. Overnight financing is shown for the instrument you are trading, in both directions, before you hold a position through rollover.
- Costs stated before they are incurred. Applicable charges appear on the relevant screen, deposit charges on the deposit page, trading costs in the ticket, not on a statement afterwards.
- No retrospective charges. We do not introduce administration or maintenance fees applying to activity that has already happened.
Execution factors we take into account
When handling client orders we consider price, speed, likelihood of execution and settlement, size and the characteristics of the order. For a retail client, total consideration, price together with the costs relating to execution, is ordinarily the dominant factor.
What we do not claim
We do not claim guaranteed fills at requested prices, zero slippage, or execution speeds we cannot substantiate. In fast markets, orders may be filled at prices materially different from those displayed when the order was submitted, and a stop-loss defines an intended exit level rather than a guaranteed exit price. Spreads widen around economic releases, at session rollovers and at the weekend re-open. These are properties of the market, not defects in the platform, and pretending otherwise sets clients up to be surprised at the worst moment.
Sections 6 to 9 of the Risk Disclosure set out the execution, slippage, gapping and liquidity risks in full.
Control 5
Complaints procedure
If something has gone wrong, we want to know about it in a form we can act on. A complaint handled properly is more useful to us than a client who leaves quietly, and the procedure below applies to every complaint regardless of the amount involved.
How to complain
- Raise it with support first. Contact us through the Support Center in your account, by email to support@novedox.com, by telephone on +44 20 8089 0820, or through the contact form selecting “Complaint” as the subject. Many issues are resolved at this stage within a day.
- Give us the facts we need. Your account identifier, what happened and when (with times and time zone), the instrument, order or transaction involved, what you expected to happen, and what outcome you are seeking. Attach screenshots or a transaction hash where relevant. Detail is what allows us to investigate rather than merely respond.
- We acknowledge within 3 business days. You receive written acknowledgement confirming receipt, what we understand the complaint to be, and who is handling it. If we have misunderstood the substance, tell us at this point.
- We investigate. We review platform logs, order and price records, verification and payment data, and any correspondence. Where a third-party processor is involved we raise it with them. If we need more from you, we ask once and clearly rather than in instalments.
- We give a written final response. We aim to provide a substantive final response within 15 business days of acknowledgement. Where a complaint is genuinely complex we will tell you before that deadline why more time is needed and when to expect the outcome, and in any event within 35 business days. The response states our conclusion, the reasoning, and any remedy offered.
- Ask for internal escalation if you disagree. If the outcome does not resolve the matter, you may ask for the case to be reviewed at a more senior level. Reply to the final response saying why you disagree and what you consider the correct outcome; the review is conducted by someone who did not decide the original case.
- External escalation. Where an independent dispute-resolution or ombudsman scheme applies to the entity you contracted with, our final response will identify it, explain how to refer the matter and any time limit for doing so. You retain any rights you have under the law of your own jurisdiction, and nothing in this procedure limits them.
What we do with complaints
Complaints are recorded and reviewed for patterns. Where the same issue recurs, the fix is a change to the product, the documentation or the process, not a better-worded apology. Findings from complaints feed directly into what we build next.
Control 6
Client-facing disclosure
Disclosure only works if clients actually encounter it. Ours is placed where decisions are made rather than buried in a document nobody opens.
- Risk warnings appear on every page of this site and in the platform, not solely inside the terms.
- Product limitations are published. Features that are not yet live, MetaTrader 5, cTrader, native mobile apps, the trading API, copy trading, two-factor authentication, and the ongoing withdrawal rollout, are listed as in development on our about page and in the FAQs. We do not advertise them as available.
- Demo-first onboarding. Every account opens with a simulated balance so the mechanics of margin and close-out can be learned before capital is exposed.
- Legal documents in one place. The legal hub collects the terms, privacy policy, risk disclosure and our internal policy summaries.
Changes to this page
This page describes our controls as currently operated and will be updated as they develop, including when regulatory authorisations are obtained, at which point the authority, entity and reference number will be published here. Nothing on this page is a statement that NOVEDOX currently holds an authorisation, nor a guarantee of any particular regulatory protection.
Questions about anything on this page can be sent to support@novedox.com or raised through the Support Center in your account.
Read next
Risk Disclosure
The full statement of what can go wrong when trading leveraged products, written to be read before you deposit.
Open the disclosureRead next
Legal documents
Terms, privacy policy, execution and conflicts policies, AML summary, cookie policy and client agreement.
Legal hubAsk us
Compliance questions
Anything on this page can be queried directly. By email, phone, or through the in-app Support Center.
Contact usUnderstand the safeguards before you deposit.
Start on a demo account funded with $10,000 in simulated balance, read the risk disclosure, and move to live only when you are ready.
Trading involves risk. 74.3% of retail accounts lose money.