Libramarkets review: Can you trust it or is it another scam?
Trusting a broker with the money you made by spending your time and energy is a decision that requires serious consideration. The internet is an incomprehensibly huge place with lots of good meaning people and lots of people seeking to hurt you in one way or another. Be it disinformation or outright fraud. Nowadays, there’s more great information than ever on the web. The internet has become the single greatest repository of human knowledge and assets in our history. With that, also comes the increased risk. With that, come the vultures. As a modern-day trader, you need to be able to identify both vultures and the eagles of the industry. We’re here to offer assistance with that.
How much truth and how much fiction are there to the reports of the Libramarkets fraud? The brokering firm has been under the fire of controversy lately. But is there any truth to the accusations of Libramarkets betrüger or is just an attempt to blacklist a newly created, ambitious company? We want to give the broker the benefit of doubt and offer it a due process before we pass judgment.
What is Libramarkets? A closer look at the company
How do we accurately discern is Libramarkets legit or a scam? Well, we go step-by-step. Libramarkets is a broker that has a wide selection of services and tools that it offers to traders experienced and not so much. The company offers investment management services and a large platform to an international audience of customers of all backgrounds and levels of expertise. The broker has a diverse website that offers a large number of useful and necessary tools and functionalities to its userbase.
The company has a sophisticated system at its disposal. Operating with the Web Trader platform, Libramarkets offers risk management, endlessly customizable watchlists, charts, and other tools in order to create a comprehensive toolset for effective trading.
In our quest to determine can Libramarkets be trusted or not, we experienced a complex, information-heavy yet surprisingly nimble trading platform that was simple to navigate. There were no indications of foul play as far as the information offered on the website. Being a new player in the market, Libramarkets is under a lot of scrutinies. This places enormous pressure on the company to perform at peak levels. The managers of the platform also seem to realize the task they’ve undertaken and are treating it seriously. And it shows in the final product that we, as users get to experience.
Does anything suggest that the Libramarkets fraud allegations are true? We visit them to find out. The website leaves little to the imagination. It has everything you might require as a trader. It’s hip, it’s incredibly sharply designed and contains way too much information for an allegedly fraudulent broker. All of the trading processes, as well as the terms of everything you do on the platform, are outlined very clearly, with little room for interpretation. The terms of service and the information you might be required to provide are pretty standard in the industry. The navigation menu is divided into several sections containing different kinds of information. You can trade over 250 assets on the website, divided into pertaining categories to make navigation easier. On Libramarkets you can trade Forex, shares, indices and commodities of all sorts.
The accompanying platform
The trade section will take you to the Web Trader-powered page with extensive live charting and informative sidebars. This is where you perform your trading. Web Trader is pretty much the standard in the industry as well. The system is fast, time and peer-tested and does its designated job extremely well.
Next is the markets section. This part of the menu will transport you to a number of pages with information about each of the asset classes you’re allowed to trade on the platform and also the website’s terms in doing so.
The third part of the menu is reserved for the education-oriented part of the website. This is introductory data for beginner traders to help them get started. The education section has information on online trading, Forex trading, technical and fundamental analysis etc. The broker also offers educational webinars for more extensive education. The company says it’s to ensure that their customers grow as traders, as they believe that their success is partly their achievement. This also helps them better utilize the various tools Libramarkets offers.
Libramarkets accounts review
Libramarkets offers the standard 3 choices when it comes to accounts. There’s also an option to create a customized account personally for you. That could come in handy if you’re a trader who requires specific terms and services. The company is happy to oblige if it means gaining a valuable new customer. This type of attention to the users on a personal level sets the company apart from a lot of its competitors and will surely contribute to our Libramarkets rating. But if you’re not searching for anything unusual, here are the three kinds of accounts you can open with the company.
- The regular account – with which you’ll gain access to all the tools and systems the broker employs to your benefit. You will do your trades at predetermined terms at your convenience. This is the basic account that will work for most of the traders seeking a new broker.
- The robo-trading account – which allows you to take advantage of one of the most advanced AI automated trading systems in the World in Libramarkets opinion. Trying out the effectiveness of the automated trading bot was not possible for the purposes of this review. However, the overall Libramarkets reviews describe the system as satisfactory. Naturally, no program that we can currently design will substitute and experienced human trader. But the complicated AI is reportedly very good for automating certain processes.
- The social trading account – last on the list is the account for those who want to imitate the trades of some of the best investors in the business. If you want to get confirmation from professionals on your opinions or just want to delegate the decisionmaking to someone more experienced and successful than you, this is the account you should choose.
Depositing and withdrawing funds
You can deposit a minimum of 250 Euros or pounds to the website to start trading. Withdrawing your profits is as easy as navigating to a box in your profile and filling a request form which will be processed as soon as possible. You can use the wire transfer method or deposit the money via credit or debit cards. Visa, MasterCard, and Maestro cards are supported.
Please note, that the broker doesn’t give you the option of changing the preferred currency of your account. Therefore, only choose it after deliberate consideration.
The summary of our Libramarkets opinions
At first glance it’s easy to believe that Libramarkets is a trustworthy brokerage that has what it takes to compete with companies operating in its region. Almost all of the aspects, starting from leverage, ending with withdrawal options seem to be on par with most of the competition.
One key issue with Libramarkets is that they don’t have a license. Because of this, we simply cannot recommend this brokerage to anyone aspiring to be a Forex trader in the future or those who are already involved in the industry.
It’s best to simply avoid this company before they apply and receive a proper regulatory license.