Discuss LibertyReserve.com

[Administrator]

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[Riccardo C]

Hi, this is my first post on FPA. I would know something about Liberty Reserve. . Does someone use it? Is it safe? I would park 10K$ on it and transfer it later to my broker (I still have not decided about it).

 

[Pharaoh]

I wouldn't recommend parking $10k anywhere but inside a reputable bank. Imagine if something goes wrong on an untraceable and irreversible transaction.

 

[Riccardo C]

I wouldn't recommend parking $10k anywhere but inside a reputable bank. Imagine if something goes wrong on an untraceable and irreversible transaction.

I agree with you. Unfortunately many things are changing in Italy, and opening a bank account in a foreign country is difficoult and tax expensive, so I was looking for a good safe system to park my money outside my country and use for it to fund my broker in the future.
Actually an international bank wire from my bank costs me 15€... :'(
Thanks for your suggestion

 

[Pharaoh]

For $50 or $100 transactions, LR or similar makes sense. If you are moving $10k, it's a lot safer to eat some wire transfer fees.