Is Libra Markets a scam or legit broker?

No, it is not safe to trade with 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.

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.

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 City Index and Plus500.

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4 responses to “Libra Markets”

  1. 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 !

  2. 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 !

  3. 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!

  4. 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!

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