Pros & cons of Nova Funding prop firm
Pros
Ability to withdraw with $0 fees
Most payment options are free and instant
Fast and digital account opening/verification
Very young prop firm, established in 2023
Lucks educational services and multilingual support
Lacks hotline support
Cons
Low daily loss limit of 4%
Does not offer access to MetaTrader 4, MetaTrader 5
Low safety with half of traders indicating Nova Funding is a scam on Trustpilot
Quick rating of Nova Funding and its features
| FPA Score | Not yet rated |
| Year founded | 2023 |
| Headquarters | United States |
| Minimum audition fee | 339 USD |
| Fees on withdrawals | 0 USD |
| Minimum funded amount | 25,000 USD |
| Maximum funded amount | 200,000 USD |
| Allowed daily loss | 4% |
| Profit target | 10% |
| Maximum trailing drawdown | 8% |
| Profit sharing (Payouts) | Up to 80% |
| Trading Platforms | Web trader |
| Available trading markets | Forex, indices, commodities, cryptos |
Safety of Nova Funding — 0
Nova Funding reviews are lacking on the FPA platform, as the firm is not yet rated. However, on Trustpilot, from 3.9k reviews almost half are 1-star ratings indicating that the firm can not be trusted. Nova Funding prop firm seems to be declining payouts for half of its traders, which directly indicates the firm is a scam. The firm is also young but still has so many reviews on Trustpilot, although half of them are negative. The firm only offers demo trading, as all of its accounts are simulated accounts. We could not find if the firm is backed by any broker, indicating it directly creates and offers those simulated trading accounts.
The firm gets a 0 score in this section, for being a scam company.
Nova Funding Funding and maximum capital allocation — 3
Nova Funding funded programs offer simulated funded accounts of up to 400k US dollars. The exact list of Nova Funding funding amounts are 25k, 50k, 100k, 200k, and 400k.
Nova Funding challenges are all 1-phase evaluation funded accounts, meaning traders need to hit the profit target without breaching the rules and get funded. However, as trader reviews suggest, the firm hates withdrawals and often declines payouts, making around 47% of traders frustrated.
Nova Funding scaling plan can be activated after consistently beating the markets, but we can not confirm if anyone can reach consistency with the prop firm that is not about profits. Overall, Nova Funding receives a 3 score in the funding options section for lacking 1k and 1 million USD accounts.
Nova Funding Assets — 2.5
Nova Funding prop trading assets include Forex pairs, indices, commodities such as metals, and popular crypto assets. There are no stocks or any other asset classes offered as of now, which is a minor drawback of the firm. The leverage is 1:100 and traders are allowed to open positions without limitations. For lacking any other assets, the firm receives a 2.5 score in this category.
Nova Funding Trading rules and limitations — 0.9
Nova Funding rules are mediocre with the daily risk limit being 4%, a maximum drawdown of 8%, and a profit target of 10%. The profit target is really high at 10% and traders need to be extremely cautious not to breach daily risk limits while trying to make a 10% profit on their simulated funded accounts. News trading, EAs, and holding positions overnight and over the weekends are all allowed, but traders still can not receive their profits from Nova Funding.
The firm gets a 0.9 score in this section.
Nova Funding Fees — 1.5
When it comes to funded account fees, Nova Funding is not a cheap prop company. While its fees seem competitive, there are no lower-funded options to allow traders access to simulated funding. Here are the fees for the one-phase account for each funded amount:
- Funded amount: 25,000 USD — one-time fee: 339 USD
- 50,000 USD — 439 USD
- 100,000 USD — 739 USD
- 200,000 USD — 1,239 USD
Nova Funding free trial is not offered as traders have to purchase funded accounts to start trading and can not test trading conditions for free.
Nova Funding free repeat is not available either, and traders have to purchase funded challenges again to start over after they fail the challenge. Funded Nova gets a 1.5 score in this section for offering 0 USD fees on withdrawals, which it almost always declines.
Nova Funding Platforms — 0.9
Nova Funding does not provide any advanced trading platforms and has only a web trader built into its trader dashboard. This web trading platform which is operated by the browser is inferior to almost all advanced platforms and traders can not analyze markets comprehensively. It lacks built-in technical indicators and tools and does not support automated trading robots (EAs) or custom indicators, requiring traders to use a separate platform to analyze markets. Traders, while allowed, can not use automated trading robots on a web platform, so this allowance is just a marketing gimmick rather than a useful rule. Overall, Nova Funding receives a 0.9 score for just offering a web trading platform.
Nova Funding Profit-Sharing — 1
Nova Funding profit split is up to 80%. It starts from 50% for the first profit withdrawals, is 70% for the 2nd withdrawal, and is capped at 80% after. Traders can request payouts every week, but it’s a marketing gimmick only. The firm does not allow withdrawals very often and scams traders from their profits and challenge fees. There are more than 3,800 reviews, half of which are 1-start assessments, indicating a clear scam and fraud.
Overall, the firm receives a 1 score in this section for a horrible withdrawal experience.
Education and trading tools at Nova Funding — 0
Nova Funding offers no educational resources. There are no webinars, trading courses, or video tutorials offered. The firm does not offer any other tools to analyze markets and support their traders, which is totally natural as the firm seems a scam. Overall, the firm receives a 0 score in this section for offering poor educational services.
Customer Support at Nova Funding — 2.4
Nova Funding offers very poor support with only live chat and often will not respond to its traders who are requesting payouts and need answers from the firm. Both the support and the website of Nova Funding is only available in the English language. There is also an email support option as well, with an online form where traders can type in messages and send it to the firm’s support team. However, these support options won’t help traders resolve their issues with payouts, as there have been more than thousands of cases where Nova Funded declined payouts and did not answer traders.
Overall, the firm gets a 2.4 score in this section for offering email and live chat channels.
Frequently Asked Questions on Nova Funding
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