Libramarkets review: Should you trust this new broker?
Libramarkets is a new broker on the market. Its website states that the company offers the public an opportunity to trade wide choices of assets from a secure platform. You can trade 250 assets on the website that are categorized into 4 separate categories. You can trade currency pairs, stocks, commodities and indices with the broker.
In this interconnected, digital era of ours, a trader is bombarded with immeasurable amounts of information. The internet is beyond saturated with false data, fraud or simply useless information. When risking your financial security, you can’t afford to be frivolous. You can’t choose a broker you’re not sure whether to trust. A modern trader needs to adequately filter out the news and info he receives every day in order not to get overwhelmed. We’re offering a helping hand with that. This Libramarkets.com review will explore the company, its business practices and the services it provides.
Libramarkets review: An honest provider or another crooked website?
Lately, the company has been hit with controversy. Some reviews criticizing the company’s dealings have surfaced and the traders are unsure who to trust. How truthful are Libramarkets betrug allegations? These allegations can seriously hurt Libramarkets rating in the trader community. The results of such claims can be disastrous for a newly emerging company. Instead of basing our decisions on hearsay, let’s take a look at the broker’s dealings and form a factual opinion.
First impressions from the Libramarkets website
As soon as you enter the website and browse for a while, your suspicions slowly start to dissipate. You’re still not sure can Libramarkets be trusted or not, but the site makes an impression. It contains everything an inquisitive trader might want to take into account. The terms of trading, information about the company, its mission and goals are all clearly outlined.
There’s also a bunch of info regarding every aspect of the company’s operations. The provider doesn’t seem to shy away from divulging as much information as any trader might reasonably require in order to decide whether they want to commit to the company.
The website provides a chat function, not one but two phone numbers you can call in case any issues arise and an email address. We tested all three methods of communication and found them perfectly satisfactory. The email response took the longest to arrive. We had to wait nearly two days for a company representative to answer our inquiry. This is not unheard of and is within the expectations when dealing with a brokering firm. Since these companies deal with large numbers of customers and their questions and problems, some waiting time within an acceptable time frame is fine.
Libramarkets platform review
Libramarkets uses Web Trader for the majority of its operations. The platform is well-known internationally and provides excellently structured charting and trading functions to traders with any degree of experience. The platform will also help you perform your due diligence regarding the trades you’re about to make. It has a lot of financial and technical analysis tools that are completely free to use with the basic account privileges at Libramarkets.
Our experience with the broker’s platform added to our increasingly positive Libramarkets opinion. In order to maximize the efficiency with which traders use its platform, Libramarkets also offers webinars every so often. These are conducted by the experts of the field that the broker employs and are aimed at raising the education level of its user base. It’s a mutually beneficial exchange. The broker receives money and customers that are better prepared for trading, the clients receive crucial knowledge and education from the leaders of the industry.
You can fund your trading with a minimum amount of 250 EUR/GBP on the website. The broker accepts all of the widely used credit and debit cards, as well as wire transfer as forms of payment. You can withdraw your earnings by clicking the withdrawal request box in your profile and filling in the required information.
What further added to the final Libramarkets rating we were preparing, was their customer service team. The broker appears to be dedicated to dealing with any issues that might arise with the platform and its users in real-time. Overall, the reviews posted by other customers of the broker also seem to support this observation.
The final decision on the supposed Libramarkets scam
We spent a considerable amount of time researching this website. From our Libramarkets erfahrungen, we didn’t come across anything particularly damning for the company. The information the broker provides on its website is more than adequate for assessment purposes. The Libramarkets opinions expressed by the trading community also helped us form our own.
Libramarkets seems like a decent brokerage on the surface, but the sheer number of complaints that we can see on their social platforms or even through private conversations with previous traders tells us that they may not be the best broker to go for.
Dozens of cases were found where the broker was very late with the withdrawals and it took customers quite a lot of involvement to get their funds back. All of this would have been avoided if there was a comprehensive license, as the regulator would take care of it.
Due to such complications with the license, we can’t necessarily say that the broker is in any way shape or form worth the risk. There are much better brokers with better conditions and a license available in the European market.