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Liqui Review - is it scam or safe?

Liqui Review - is liqui.io scam or good cryptocurrency exchange?

RATING: 3 / 3 REVIEWS Liqui

RECOMMENDED BITCOIN BROKERS


Trading Accounts

 

Account type Minimum deposit Leverage Maker Fee Taker Fee
Standard Undisclosed 1:1 0.1% 0.25%


Liqui is a Ukrainian cryptocurrency exchange that also features savings accounts and intends to offer margin trading and lending in the future. Like most similar venues, trading at Liqui is done via a single account type and there are almost than 200 digital coins available. Besides, Liqui, keeps adding new ones.

 

As regards Liqui savings accounts, they have 24% annual percent rate (APR), which seems unrealistically high to us. Allegedly, interest is paid every 24 hours, and interest fees are calculated every minute.


The Company. Security of funds

 

Company Country Regulation
Liqui Trade, Inc. Ukraine N/A

 

Launched in 2016, Liqui operates out of Kiev, Ukraine and is not regulated. This, of course, may bring a bit of worry, but the majority of the companies in the crypto-world are neither licensed, nor overseen by any authority. On the one hand, this is due to the fact that Bitcoin is a relative newcomer in the world of finance, but on the other, digital coins and related services are recently attracting billions of dollars. Therefore, authorities across the globe seek ways to regulate ICOs, crrypto-exhanges and the like.

 

Recently, there has been a new law proposed in Ukraine that would bring the local cryptocurrency ecosystem under the oversight of the country's central bank. Yet, currently crypto-exchanges in the country are not under the oversight of any government agency.

 

That is why doing your due dilligence check before depositing any money or coins is a must for every crypto investor. We went through numerous negative reviews on Liqui. Some of the common problems users of this exchange have experienced are delayed or blocked deposits/withdrawals, non-responsive customer support, slow and laggy platform, salty withdrawal fees. In fact, most of the users directly accuse Liqui of being a scam.

 

Some of Liqui’s clients have reported that their accounts have been hacked, but remains unclear whether this is the case, or this has been done by some of the exchange’s team members, as some suggest. Either way, Liqui seems a bit shady, although it is rated 28th in terms of 24 hour trading volume at the time of writing of this review. That puts Liqui in between exchanges like BitBay and Cryptopia.

 

>> Top-tier regulated brokers offering Bitcoin trading <<

 

If you’d rather trade in cryptocurrencies with a properly licensed entity, you can also do that with a forex broker. Keep in mind that it is different from trading on a crypt-exchange.


Trading conditions


Trading instruments (cryptocurrencies)

As we have already mentioned, there are over 190 digital assets available for trade at Liqui against Bitcoin, Ethereum and USDT (USD Tether, a cryptocurrency, backed by real dollars). However, fiat currencies (like USD, EUR, etc.) are not supported by this exchange.



Minimum initial deposit

Liqui does not provide information on the minimum deposit amount. This is more or less typical for crypto-exchanges. As we review mostly forex brokers, we are used to companies stating the minimum investment required to open an account with them. There are, however, some major players like IG that don’t have a required minimum.



Leverage

Trading on leverage is planned by Liqui, but has not been launched yet. While some traders would probably enjoy such a service, it is not supported by the majority of exchanges, as cryptocurrencies tend to be very volatile. By comparison, all forex brokers offer margin trading, including for cryptocurrency CFDs.

 

>> Forex brokers offering leveraged Bitcoin trading <<



Fees
Liqui charges “takers” (those who buy/sell from the first available bid/ask) with 0.25%. On the other hand, traders who provide liquidity to the exchange by placing their own bids and asks have to pay 0.10% in trading fees. These are relatively competitive commissions, however, many companies don’t charge market makers, and some even give them rebates (HitBTC).


Trading platform


Liqui offers a browser-based trading, which is common among crypto-exchanges. Its layout is fairly nice with neat order book, instrument list on the left where the digital coins are into three categories, depending on whether three categories, depending on whether you wish to trade against BTC, ETH, or USDT. Besides, charting is a lot better than many other similar solutions, and there are plenty of technical analysis indicators.

 

Here is a preview




Trade history is placed at in the bottom of the page, and there is also the “Trollbox”.

 

Methods of payment


Liqui does not provide much information about its deposit and withdrawal procedures. We suppose that it supports only blochchain transfers, as fiat currencies are not offered for trade, and therefore, bank wire transfers and credit card payments are probably also unavailable. Also, it must charge some transaction fees, at least on withdrawals.


Conclusion


Liqui is a is a Ukrainian exchange that offers only crypto-to-crypto trading, however its digital currencies portfolio is very extensive, and keeps growing. While its platform is equipped with some advanced functionalities and its trading fees are relatively competitive, Liqui does not accept fiat currency transfers and does not provide information about the transfer fees it applies. Nonetheless, our main concern with this exchange comes from the numerous negative user reviews. It also offers savings accounts with a promise of 24% APR, which makes this company even more shady. Here is a summary of what Liqui has to offer:

 

Pros Cons
Relatively competitive trading fees Not regulated and with pretty bad reputation
Nice trading platform Little info about the company
Wide range of coins offered Does not support fiat currency transfers (no bank wire, credit card payments)
Savings account offered Unrealistic interest offered on savings accounts
  No information on deposits/withdrawals and the realetd fees

 

Latest news about Liqui
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Traders` reviews for Liqui

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Liqui Lost Funds

Hello

We are gathering people who lost funds on liqui.io in a telegram group:

https://t.me/joinchat/AdU2FE9-2oyeBMf-lXNA9w

Liqui doesn't do much support and a lot of people lost funds in deposits that never got through or withdrawals that never succeeded. Now it's time we stood up and do something about it.

Possibilities are:

- Press charges
- Class action suit
- Get the Ukranian government involved
- Mass social media actions

There are enough people who are more than willing to put some effort into this.

Please join us.

hanns356 05/08/2018

I have 30 eth in...

Hello, I'm already 28 days since I opened a ticket ... My problem is that when I try to log in I do not receive a confirmation email! If someone in Liqui reads this please look at this ticket and try to help me out. Thank you! https://liqui.freshdesk.com/support/tickets/28238

Basarab 02/15/2018

Liqui Scammers

I wanted to give Liqui a try as there were some interesting ICOs to invest in, never would of thought it would be as shady as what it was.

So basically my situation was I transferred some money I had leftover from my Ethereum wallet in Coinbase to my Eth wallet in Liqui, so help me god I did not see the notification message of "Transactions are not aggregated if you sent less than 0.05 ETH liqui",so nothing came up! I gave it a couple or days or so and still nothing, so I decide to contact their support team and also their Telegram, no response in 3 weeks! Finally I get an answer today saying:

Unfortunately, we can not help you, your deposit is less than the minimum amount.

Ticket: https://liqui.freshdesk.com/helpdesk/tickets/22893

Sincerely,
Liqui Support Team

I mean what kind of schmucks operate this crypto exchange website and are not able to help out, seriously, you give them an inch and they'll take a mile.

Any suggestions on how to recover this money or at least make their life a hell for what they did!

Sean 01/10/2018
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