Managing people’s money is a huge responsibility that should not be taken lightly. Libramarkets, the new broker operating in the industry has seen some rough publicity lately. The allegations of the Libramarkets fraud have been hitting the web in a suspiciously well-coordinated manner recently. With new companies like this, people are always wary. One of the main reasons for this is the fact that the investment possesses inherently high levels of risk to those willing to funnel money into it. In addition to this, a large number of companies and individuals make it their mission to rob people of their money.
This isn’t to say that the number of companies with transparent, secure practices is insignificant. Not at all. But the nature of the game and the hordes of fraudsters force traders, both new and experienced alike to think twice before trusting an unknown company with the money they spent time and energy earning. We think that’s a good practice that needs to be encouraged. However, not at the expense of the truth. With that being said, is there any truth to the claims of the Libramarkets betrug? Is this a company dedicated to upholding your best interests or is it another in a long series of scams originating on the Internet? Thankfully, the web is full of not just misinformation and people trying to take your money from you, but also legitimate sources of info. Sources that respect the due process and are willing to go the extra mile to expose something dishonest or to exonerate victims of smear campaigns. So, can Libramarkets be trusted with your resources? Let’s explore that.
Libramarkets review: How does the company operate?
So what does Libramarkets do, really? The company has a wide selection of functions it tries to tackle. It manages people’s funds, provides them with a platform to conduct their trading on and offers them a large number of tools and mechanisms to help them accomplish their goals. They’re equipped with risk management systems, customizable charts in 9 time-frames, Fibonacci lines, equidistant lines, 30 technical indicators and everything else you as a trader might want for. They have around 250 assets to choose from in your trading. Those are divided into categories. The trading is pretty much non-stop during the workweek. The broker operates from 00:00 on Monday to 23:59 on Friday every week. The standard schedule for a trader.
The international broker conducts its operations using the globally famous Web Trader system. The platform houses nearly all of the functions a trader might require in his everyday dealings. This means that as a new user you won’t be required to download any programs or subject your computer to any third-party software at all.
What does the website look like?
Without rushing to judgment, we wanted to see for ourselves is Libramarkets legit or not. So we embarked on a mission to take a closer look at this ambitious new player in the field of investments. Our investigation of the alleged Libramarkets scam begins as soon as we open the website. Imagine our surprise, when instead of a poorly constructed scam website, we were transported to a platform created with a great eye for detail and efficiency. The website is easy to use for anyone regardless of their trading experience. The colors are tasteful and sublime. It’s not just several pages stitched together with the purpose of attracting gullible people. It has a plethora of information about any issue you might be interested in regarding the dealings of the company. Everything is right there in front of you in no uncertain terms.
Optimization and availability
The system is offered to traders from all around the World. The company services people of different nationalities, financial means, and education in trading. It’s meant to be universally accessible and easy to use. Our Libramarkets rating takes this factor into account as well. The experience of using the website is excellently transferred to different devices. Whether you want to trade using your Smartphone, PC or tablet, you’ll find that your Libramarkets erfahrungen is equally smooth and well-optimized on all of those platforms.
What are the instruments and terms of trading on Libramarkets?
Libramarkets Forex broker allows its users to perform operations with just one click. It possesses an extremely efficient trading system.
The website also uses Fill or Kill, the instant trade execution system that applies to instruments with fixed spreads. This means that if the price is changed, instead of the order passing through at a different rate, you’ll just receive a requote.
The Click & Deal system means that your order will be seen through for all instruments with a floating spread. It also means that if the price of the position changes while that position is opening, your order will be executed using the new price instead of the one you ordered. This is pretty standard practice with brokers that allows them to protect their funds.
The standard leverage offered by the broker currently stands at 1:100. Different account types will have different levels of leverage at their disposal, however. The maximum amount of leverage backup the company allows in its operations is set at 1:500. This is a rather generous level of leverage and the company should be commended to it. Presumably, this financial model works for them, because they’ve seen some amazing growth lately (Hence the smear campaign).
Fees and commissions
The provider charges you the swap fee every day at 24:00 GMT +2. Another standard practice at some of the World’s leading brokering firms. All of the Libramarkets broker’s operations are conducted using the GMT + 2-time zone. This makes for an a more easily manageable system. Swaps are calculated using the base currency of your choosing. You get to pick your preferred currency once – when you register your account. Choose deliberately, however, as the company currently doesn’t allow that setting to be changed later on.
Commission rates for the company’s service are different, depending on what account type you choose to register. The commission rates will be anything from 0 to 60 units per lot in your base currency. Since the company offers individually customizable account types, the fees are therefore calculated using complex algorithms for each account independently.
The company employs a 30% stop-loss mechanism to protect its clients’ funds. A lot of brokers, especially in highly volatile markets or dealing with cryptocurrencies will abolish stop-loss altogether. The company’s decision to maintain the mechanism is further indication that Libramarkets fraud rumors are just that – rumors.
Whether you’re not remembering your credentials, requiring assistance in learning the functions of the website or trying to deal with some sort of an issue – Libramarkets department of customer support is ready to assist you. Our observations have shown that the people at the company seem to be truly concerned about the experience the client walks away from them with.
It’s an old marketing mantra that a good review brings in 10 people, while a bad one keeps away 100 potential customers. Therefore, in this new digital world of ours, it’s more important than ever to manage the customer’s expectations and experiences correctly. The fact that the company seems to realize that, further adds to our Libramarkets rating. Especially, given that even a lot of experienced, reputable providers in this business seem to neglect that aspect of their operations’ success or not pay enough attention to it. In contrast, Libramarkets offers a dedicated live chat, phone numbers to contact them and an email address. These are the characteristics of a company that’s trying to create a transparent business practice for years to come.
The bottom line in our Libramarkets review
As a conclusion to the Libramarkets review we’d like to say that good conditions do not excuse a skimp on a legitimate regulatory license. The fact that Libramarkets is able to offer very competitive features to its European customer base does not necessarily make them the best choice to go for.
This is simply derived from the fact that multiple cases have been noted in the past where fraudulent companies would entice new customers to deposit with overwhelmingly positive features, only to steal their funds in the end.
We can’t necessarily say that Libramarkets is a scam, but we can’t say that they can be trusted either. At this point in time, it’s best to simply avoid them completely.