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Libra Markets Review - is it scam or safe?

Libra Markets Review - is libramarkets.com scam or good forex broker?

RATING: 1 / 19 REVIEWS Libra Markets
Libra Markets is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit   Max. leverage Spread
Regular  EUR 250  1:500 3 pips, fixed

 

Libra Markets offers a Regular account type as well as several specialized in specific types of trading - Robo-trading and Social Trading accounts. Although clients of this Estonian broker are able to trade in wide range of assets, the trading conditions are far from perfect, and, what is worse, Libra Markets is not regulated.

 

You can find all the details regarding this forex and CFD broker in our thorough unbiased review.

 

 

Libra Markets Advantages

 

A plethora of tradeable assets

Clients of Libra Markets are offered more than 250 financial instruments for trade, which allows for for portfolio diversification and better risk management. More specifically, the broker offers wide range of currency pairs and CFDs on indies, commodities, precious metals, many stocks, and a lot of cryptocurrencies.

 

 

>> Margin trading in Bitcoin with reliable forex brokers <<

 

 

Up to 1:500 in leverage

Another possible advantage of Libra Markets is the high leverage levels available, reaching 1:500. Such ratios will suit even the most aggressive trading styles. Keep in mind, however, that high leverage brings along greater risk of losses.

 

That is why the leverage provided to retail traders is restricted in many jurisdictions. For example, leverage on the European market is capped at 1:30, in the US at 1:50 and in Japan 1 :25. 

 

 

Libra Markets Disadvantages

 

No forex broker license

Libra Markets is owned by Yield Enterprise Currency Software OÜ, an Estonian company allegedly operating out of Riga, Latvia. Financial services providers in Estonia have to be licensed by the Estonian Financial Supervision Authority (EFSA, also known as the Finantsinspektsioon), or by another official EU regulator. This, however, is not the case, with Libra Markets.

 

When dealing with an unregulated broker, the safety of your investment depends solely on the integrity of the people who operate those companies. Needless to say, the majority of these people are scammers, therefore we advise traders to avoid unregulated brokers as a general rule.

 

The other brand of the company appears to be a scam

We found out that Yield Enterprise Currency Software OÜ operates and other brokerage we have reviewed, UproFX. Considering the number of user complaints posted as comments to our review, it is pretty obvious that this broker is involved in some fraudulent scheme. Some traders claim that this broker is run by the same people who operate KontoFX, which is also an outright scam.

 

High fixed spreads

Spreads at Libra Markets appear to be fixed and quite high. For example, the benchmark EUR/USD spread is 3 pips - very high level, when compared with the contemporary offers by other brokers.

 

Click to view larger.

 

That being said variable spreads are generally lower than fixed ones. Feel free to check our spread comparison page,

 

 

>> Compare the real-time spreads of top brokers <<

 

 

MetaTrader not available

Libra Markets uses lightweight web-based platform, which seems more suitable binary options trading. It is oversimplified and lacking many advanced features which are available at the MetaTrader4 and MetaTrader5, for example.

 

So we miss the MetaTrader4 – the best known trading solution, preferred by most traders. The MT4 has more than 50 in-build market indicators, great charting tools and is designed to support automated trading sessions with the help of customizable trading bots – Expert Advisors. Here you may check our list of brokers, also supporting the MT4:

 

 

>> Find the best MT4 brokers <<

 

 

Withdrawals may take up to 10 business days (or more) and the minimum amount of withdrawal via a wire transfer is 500 EUR/GBP. 

 

 

Conclusion

 

Libra Markets is an unregulated broker with very limited credibility. Apart from obvious issues like the lousy trading platform and the uncompetitive spreads, our main concern remains the broker’s regulatory status.

 

We already highlighted the importance of financial regulation in the world of online trading. As always, our best advice to our readers is to invest only in properly licensed brokers. Below, you may find a list of forex brokers licensed by the Cyprus Securities and Exchange Commission (CySEC).

 

 

 

>> Trade with a CySEC-regulated broker <<

 

 

To sum up the above:

 

Pros Cons
A plethora of tradeable assets No forex broker license
High leverage The other brand of the company appears to be a scam
  High fixed spreads
  MetaTrader not available

 

Latest news about Libra Markets
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Traders` reviews for Libra Markets

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

I fell for Libra Markets scam

Like many other I fell for this scam. They advertised on the net using well known TV personalities who had apparently invested with them and doubled their investment in no time. Minimum Investment Euro 250,00.

Okay if its a scam not a lot to lose. I invested said amount and eventually had a phone call from a lady called Anna, who said that such a small amount wouldn't bring much that really their minimum was Euro 1000,00. To this I agreed I would send the difference only to be told it would have to be the full Euro 1000,00 now I had invested Euro 1250,00.

After several weeks following the charts on their website and having some profit I decided I would try to get the Euro 250,00 back and leave only the Euro 1000,00. Supposedly you can lift money at any time, this is not the case, next phone call from Alex advised me that the deals at dead lines and that they were still within these limits.

Next came my Credit Card Bill only to see I hade been charged Euro 80,00 for transferring my Euros into Russian Rubel! If that is not Money Laundering I don't know what is.

I then cancelled my dealings and asked for my money back, apparently at this time there was Euro 1.600,00 on my account. Another phone call to be told that I would have to wait until the 23 July when the deal closed. Nothing was heard on 23 July or days afterwards, I wrote an email to Anna and promptly received a phone call to say my money was totally lost.

Do I have to say more.

Hazel Riess 08/18/2019

Big SCAM

They stole my entire funds on the account they just locked me out for a few days and later sayd it was the robot that placed loosing trades what is a big lie , if you search the internet you find they are run by the same people as before Tradorax KayaFX KontoFX UproFX Libramarkets Olympiamarkets and they use Bitcoinprofit and Bitcoinrush to lure people in over social media and fake news pages beware they are a big scam !!!

Schmidt 07/29/2019

SCAM

Libra markets is the new boiler room scam fro kaya fx and konto fx they are marked as a scam by the FMA!
this broker only stelas your money without any real trading !

mark 07/28/2019

Libra Market ein totaler Betrug

Libra Market eine Marke von KayaFx und viele andere Betrügereien. Bleib weg davon und Finger weg. Investiere nichts mehr! Sie versuchen, Sie zu zwingen und zu betrügen, um Ihr Geld zu sparen. Nein, sie werden alles stehlen! Das ist Betrug pur!

austin 07/23/2019

betrüger

Das sind Alles betrüger !!! sie haben mein gesamtes konto geplündert nachdem ich ablehnte weiter 10,000€ zu investieren , mein konto ist inerhalb von nur 2 stunden von 12,000€ aus 50€ gesetzt worden jeder trade war negativ, die daten waren ausserdem komplett falsch und entsprachen nicht dem bitcoin kurs das ist alles manipuliert und nur darauf aus einem das geld zu stehlen !!!


Translated by Google:

These are all cheats !!! they plundered my entire account after refusing to invest $ 10,000 again, my account has been set within only 2 hours of $ 12,000 from $ 50 each trade was negative, the data was also completely wrong and did not correspond to the bitcoin price that is Everything manipulated and just stealing money from one !!!

james 07/22/2019

Libra Markets is a complete fraud

they are a complete fraud , the FMA released a warning against this broker but sadly I read it to late, I deposited together 5000€ and made good profits in the end I had 8500€ and then I recived a call from my account manager that I have to have a t least 20,000€ on my account to be able to aces the next big event I told them that I do not want invest this amount now and I want to wait that my money made more profits so he got rude and told me he will stop working for me, I got a call from another broker who told me he is new and not so experienced so I told him I do not longer work with Libra Markets and they should delete my account and send me the money .
instead they placed only 3 trades who made a loss of exactly 8500€ and told me there is no more money to send but I have to pay the fees of 500€.
I did not pay this instead I reported them to the police and started a chargeback with my bank!

frank 07/22/2019

betrüger

Libra Markets hat mich auf das übelste betrogen !
ich habe insgesamt 10,000€ investiert uns sie haben mit ihrer manipulierten trading paltform jeden einzelnen euro gestohlen sogar die FMA warnt vor diesen leuten !

Translated by Google:

Libra Markets has cheated on the worst!
I have invested a total of € 10,000 us they have stolen every single euro with their manipulated trading paltform even the FMA warns of these people!

Anna 07/22/2019

SCAM!!!

the continuation from KAYAFX scam , they are the same in every way this broker is not only run by the same fraudsters thy are even use the same offices and people that call you in an unprofessional way.
they only want your money they do not explain or know a thing about trading besides they are rude pushy and shout if you do not agree with them I deposited the minimum and on the next day they stardet to call me and wanted me to invest at least 5000€ before I checked them on the internet and saw they are a scam so I did not gave them a chance to fool me with that money!
the credit card company reacted good to my complain and took the money back now I only have to deal with these rude broker who complain about me taking my money back from them -

alison 07/21/2019

they are real scammers

the run the same scam as Kaya FX ,UproFX and KontoFX read the news about them, Libra Markets is operated by the same people fro the same office do not invest any money with them also do not buy any cryptocurrency on their platform it is all fake they only take your money !

Christina C 07/18/2019

Libra Markets son una estafa !!!

son una gran estafa, ten cuidado con las falsas revisiones de trustpilot que te roban el dinero, son lo mismo que kayaFX

Translated by Google:

Libra Markets are a scam !!!

they are a big scam, be careful with the false reviews of trustpilot that steal your money, they are the same as kayaFX

mike 07/18/2019

Libra Markets - Alles ein grosser betrug

Libra Markets is reiner Betrug sie haben nichts mit Libra Coin zu tuen , das sind kriminelle die versuchen sich das vertrauen der Kunden zu erschleichen mit einem ähnlichen Namen wie der richtige coin!
sobald sie geld überweisen fangen sie an ständig nach mehr zu fragen , so wie man es von solchen scam firmen kennt das geld wird direkt auf ein anderes Konto gebracht und ist sofort weg !!!!

Translated by Google:

Libra Markets is pure cheating they have nothing to do with Libra Coin, these are criminals who try to gain the trust of customers with a name similar to the right coin!
As soon as you transfer money, you are constantly asking for more, just as you would expect from such scam companies. The money is transferred directly to another account and is immediately gone !!!!

phillip 07/18/2019

Scammers, the Trustpilot reviews are fake

they are the same scam as KayaFX when they called me and try to convince me they they are legit we talked quite a while and they made the mistake to drop some details what happened last year when KAYA FX scammed me only they could know it !!!

The Trustpilot reviews are fake this company has no real happy clients do not get fooled by their number these people spend probably the whole day writing them self good reviews and try to block out the bad ones who expose them !!!

jonny 07/01/2019

Libra markets ein Betrug

Libra markets ist eine neue Marke der alten Betrugswebsites wie Tradorax, KayaFX, KontoFX, UproFX und ein kürzlich eröffneter Olympia Markets. Dieselbe Führung betrügt unschuldige Menschen. Diese Waage Märkte haben sich darauf konzentriert, deutsche Händler zu betrügen.
Machen Sie Fintelegram Whistblower einen Bericht über Ihre Erfahrungen, oder fragen Sie Efri.io, die eine Sammelklage auf legalen Wegen eröffnet hat.Sie haben eine KayaFX-Klassenaktion.

Libra markets is a new brand of the old scam websites as Tradorax, KayaFX, KontoFX, UproFX, and a recently opened Olympia Markets. The same leadership scamming innocent people. This Libra Markets have been focused on scamming German traders.
Make a report to Fintelegram whistblower about your experiencies, or ask Efri which have an opened class action on legal ways. They have a KayaFX class action.

Christian 06/18/2019

Libramarkets scam

I too have invested in libramarkets.com. Like all of you I didn't get my money back some Euro 1250,00 plus the so called win.
Is it not possible to take action against this Company collectively, like in the case of Volkswagen? I believe if we all try together it would be more effective.
Hopefully I will get an answer from somebody.

Hazel Riess 06/12/2019

Online Betrug

Super Abzocke,nach Einzahlung sind die auf keinem Wege mehr zu erreichen. Man kann sich nicht einloggen. Habe die Zahlung storniert bei meiner Bank.
Finger weg. Die warten extra 48 Stunden wo das dann freigeschakter werden soll. Das sind genau die 48 Stunden wo man noch reklamieren kann.


Translated by Google:

Super rip-off, after deposit are on no way to reach. You can not log in. Have the payment canceled at my bank.
Hands off. The wait extra 48 hours where the release then should be. These are exactly the 48 hours where you can still complain.

Elke Günther 05/10/2019

Libra Markets - Voll der Mist

Hallo ,nun ich gehöre wohl auch zu den Auserwählten Idioten die darauf reingefallen sind,ich habe bei verschiedenen Anbietern je 2500. EURO INVESTIERT, Libra market ist auch dabei,nun nachdem ich Einbezahlt hatte dauerte es schon wochen bis sich jemand meldete,dann wurde ich angerufen,ein gewisser herr Weiss,er klang sehr vertrauenswürdig,er half mir dann auch mein Geld zu verdoppeln,doch jetzt wo ich meine Einlage von 2500 euro rausholen wollte,höre ich nichts mehr,man kann auch nicht anrufen,die sprachbox wäre voll,das gleiche ist mir mit Obsbit passiert.
Seitdemhabe ich nichts mehr gehört über 3000 Euro liegen noch auf dem Konto


Translated by Google:

Full of crap

Hello, Well I am probably one of the chosen idiots who fell for it, I've invested in various providers ever 2500. EURO, Libra markets is also there, now after I had paid it took weeks until someone reported, then I was called, a certain Mr Weiss, he sounded very trustworthy, he helped me then to double my money, but now that I wanted to get my deposit of 2500 euro, I hear nothing more, you can not call, the sprachbox would be full, the same thing happened to me with Obsbit.
Since then I heard nothing more than 3000 euros are still in the account

Jürgen 04/05/2019

Libra Markets Betrug

Inmeinem Fall insgesamt 82.000€. Die ersteinzahlungen von mir nochmal 2500€ waren mitmeinem Einverständnis. Jetzt sind mit diesen veruntreuten Geldern Dealer Geschäfte mit Gewinnen gemacht worden. Da ich mein Geld zurückforderte erdreiste man sich durch Ihre Chefin von mir nochmal eine Überweisung von fast 20.000,00 € zu leisten um die vorzeitige Auflosung von Kontrakten,denen ich nie zugestimmt habe,zu erreichen. Mein Hinweis die Komm. von der zu überweisenden Summe abzuziehen,da ih sie nicht mehr zur Verfügung habe,wurde abgelehnt mit der Begründung das dieses nicht ginge. Dabei ist das ein einfacher buchhalterischer Vorgang also ein weiterer Betrugsversuch. Ich habe mein Geld bis heute nicht erhalten. Es erfolgt jezt dieAnzeige bei der Polizei und Staatsanwaltschaft wegen Wirtschaftskriminalität.


Translated by Google:

Libra Markets Scam
In my case, a total of € 82,000. The first deposits of me again 2500 € were mitmeinem agreement. Now with these embezzled funds, dealer deals have been made with profits. Since I reclaimed my money, you thirsted by your boss of me again to make a transfer of almost € 20,000.00 to the premature resolution of contracts, which I have never agreed to achieve. My advice to deduct the comm. From the amount to be transferred, since it is no longer available, was rejected on the grounds that this would not work. This is a simple accounting process so another scam attempt. I have not received my money until today. It is now the indicator to the police and prosecutors for white-collar crime.

tobias Mueller 04/04/2019

sehr Gefährlich

Hallo mein Name ist Velizar Marinov ich habe 2500 Euro investieren beim Libra Markets mit Herr Thomas weis.Das ist eine Betrügen Firma!!!Bitte Leute Aufpassen mit Platform Sie lügen sehr sehr sehr viel.Thomas weiss klauen nur Geld.Ich wollte jetzt eine Gericht machen mit Thomas weis oder mit Libra Markets. Bitte Leute wenn Sie haben gleiche Problem wie meine machen Sie ein Kontakt mit mir Email.

Translated by Google:

Hello my name is Velizar Marinov I have 2500 euros to invest in Libra Markets with Mr. Thomas Weis.That is a cheating company !!! Please people take care with platform They lie very very much.Thomas whitewash only money.I now wanted a dish do it with Thomas Weis or with Libra Markets. Please people if you have same problem as mine make a contact with me email.

Velizar Marinov 04/04/2019

Libra Markets = Betrüger

Die Gesellschaft Libramarkets sind die Größten Betrüger ..Ich habe 500,00 € eingezahlt .Das Geld ist wahrscheinlich weg .Auch meldet sich keine mehr ,und antwortet nicht auf meine Fragen .Das Geld wollte ich zu rück hohlen ,aber es gibt keine Möglichkeiten an das eingezahlte Geld zu kommen .Man sollte die Betrüger verklagen .Ich wollte es über die Börsenaufsichtsbehörde versuchen ,aber das klappt nicht .
Es haben sich auch noch andere von Libramarkets immer wieder mit anderen Namen gemeldet. Sobald ich mein Geld zu rück forderte, war auf ein Mal Funkstille.
Man müsste eine Sammelklage gegen Libra markets machen .Ich habe leider keine Ahnung wie man das macht.


Translated by Google:

The company Libramarkets are the biggest fraudsters .. I have paid 500,00 €. The money is probably gone. Also, no more logs, and does not answer my questions. The money I wanted to back hollow, but there are no options You should sue the fraudsters. I wanted to try it through the Securities and Exchange Commission, but that will not work.
There have been other names of Libramarkets. As soon as I demanded my money, there was suddenly silence.
You would have to make a class action against Libra markets. Unfortunately, I have no idea how to do that.

Gerd Volkmer 04/04/2019
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