Libra Markets Review
Reason to avoid: No license
Listed Date: June 24, 2019
Top 3 Forex Brokers
Beware Libra Markets is a Non-Regulated broker. It is NOT SAFE to trade.
- Our Review
- Libra Markets User Reviews
- Libra Markets News
Is Libra Markets Scam or Legit Broker?
Libra Markets is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.
About Libra Markets
| 🗺️ Registered in | Estonia |
| 🗺️ Type of License | No License |
| 🛡️ Is Libra Markets safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | IC Markets - licensed by ASIC in Australia |
What is Libra Markets?
Libra Markets is owned by Yield Enterprise Currency Software OÜ, Tallinn, Estonia, and operated from Riga, Latvia.
- According to the website, Libra Markets provides industry-leading forex brokerage to enable secure investment and trading across multiple asset classes. The broker doesn’t provide any information about its regulation or license and it actually seems it doesn’t have any.
As it claims to be registered in Estonia, it was supposed to be regulated by the local regulator Estonian Financial Supervision Authority. We didn’t find any mentions about the broker in the FSA’s register, which means Libra Markets is not regulated to provide its financial services in Estonia as well as other EU countries.
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In addition, Libra Markets has been blacklisted by Austrian Financial Markets Authority:
"Libra Markets is not entitled to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others."
- We have also reviewed one more broker UproFx, operated by Yield Enterprise Currency Software OÜ. This broker has been banned by several regulators and has a lot of negative reviews.
Libra Markets Review Conclusion
We advise all investors and traders to avoid Libra Markets and other unregulated brokers. The lack of information about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and BDSwiss. You may be interested reading RoboForex Review.
Libra Markets Update
Recently Libra Markets website remains inactive and unavailable to reach, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case their receive trading proposals.
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This is a scam. You can put money in and trade but you can never take any money out including your initial deposit. Some more information,
I had 2 account managers namely Mike Lewis +44 7828 770347 which appears to be a mobile telephone number in use in Jersey, and the second Charles Johnson (both probable fake).
Both support telephone numbers on their website are fake.
tel:+27105003620 is a number in South Africa
tel:+442045428151 is a none existing number
I aim to get as much information about them as possible and punish them. I did not loose as much as some other people but I do hold a grudge and will not stop looknig into this (legal or not).
Regards,
Arend Westdorp
I was also scammed with Eu 33,000.00. Not one cent left over . They are a bun , ready to go to hell !!!ch of crooks
Please do not trust them, they are scammers. I deposited about Euro 14,000. The gains in the investments was like boom in crypto, unbelievable. Everyday I was getting about Euro 200-500. They said they can refund the money any time, but need few days for them to release the deposited funds. When I asked for the refund all the money I gained suddenly started getting loss. And in 5 days by balance was about Euro 3.00 from Euro 17,000 (after all the gains from my Euro 14,000). The dollar value that you see in their web site are just numbers. Do not trust them.
They are all criminals, they ask for more money and it’s great as long as you invest money. If you want your money back – there are a lot of problems, you won’t get your money back no matter what you do. I hope the’ll go to jail one day. Don’t be naive, stay away from them!
this broker is a scam that is a clear fact every broker needs a license and regulation to access the markets and place trades for investors if they dont have both they are not able to do so and this means they use a fake trading platform to look real and play the boiler room scam with you what will always ends in a way that the investor looses the money after they asked many times for more and more deposits!
This Broker is a huge scam scheme they been doing this for many years with different names but in the end they always steal the money no matter what you do .
they stole from me around 50.000€ it started small but they alwas found a new reason why I should not withdraw and invest more instead to let the money work to make more profit. everething they told me where lies they have a manipulated trading paltform where they can make your account winn or loose money as it fits them but it is al fake . the money I transfered was never really on the account they just took it in the minute they got their hans on it !
Die Leute von Libra Markets sind Betrüger, sie erzählen einen von grossen gewinnen und schnell wird mehr geld verlangt als die 250€ sie werde schnell frech und verlangen immer mehr geld .
Sie haben Keine Lizens oder regulierung und sind auf der schwarzen liste was kein wunder ist wenn man sich die firma anschaut sie werden von den selben leuten wie KayaFX KontoFX und UproFX geleited, allsamt kriminelle Broker !!!!
Auf keinen fall irgendwelches geld einbezahlen egal wie vorsichtig sie das machen diese leute stehlen das geld sobald sie es überwiesen haben !