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Can one trust Liberty Reserve ?

Discussion in 'Forex Company Comparisons' started by cyberwave, Dec 2, 2012.

  1. cyberwave

    cyberwave Recruit

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    Apparantley sending wire transfers to my forex broker is prohibited in my country

    not to mention receiving wires from brokerage firms, which is really quite ridiculous

    so i have to work with Liberty Reserve service

    Can they be trusted ?!!!!! Does anyone use them ?
     
  2. Pharaoh

    Pharaoh Colonel

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    That sucks. What country are you in?

    The issue that LR shares with all online payments processors is that if they decide for any reason that your account is somehow fraudulent, they can lock it down and it's 100% at their discretion whether it ever gets unlocked. I haven't heard of this happening very often, but it's something you need to be aware of.

    For modest amounts, I think LR would not be too high of a risk.

    Any chance you could open a bank account offshore and use that for deposits/withdrawals? Are credit cards an option?
     

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