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Libertex.org (was ForexClub.biz) Review Visit site

Updated: Dec 6, 2018
1.717 · 5 REVIEWS
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Related sites include FxClub.com/FxClub.org

Libertex is a forex broker. Libertex offers the Mobile trading currency platforms. Libertex.org offers currency pairs, cryptocurrencies, indices, oil, gold and silver for your personal investment and trading options.

Libertex.org (was ForexClub.biz)

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Libertex.org (was ForexClub.biz) profile provided by Mariliis Uibomae, Aug 31, 2012


Forex Club International LTD is one of a group of global Forex Club companies with over 100 offices in Russia and CIS and Eastern Europe. Forex Club is the only foreign exchange brokerin the industry to receive an ISO 9001 international certificate for its quality operations.



Forex Club’s mission is to give individual traders the opportunity to participate in the largest financial market in the world, improve our clients’ knowledge of finance, and enable traders to capitalize off of their own intelligence



Forex Club provides forex trading solutions, quality training, analytical tools, and personal customer support to its world-wide client base, regardless of where clients reside.



The advantage of trading with Forex Club lies in the nature of the market. The instrument of this market is currency; by understanding the nature of how money prices fluctuate, traders can take full advantage of forex. Forex Club teaches traders how to place trades while making the market accessible, transparent, and understandable. The lessons taught are universal and can be applied to any financial market. By choosing to learn and trade with Forex Club, you are taking an aggressive step towards investing with a stable and reliable global brokerage that works with its clients on a personal level. 



FOREX CLUB is an acclaimed brand that has received awards from around the world, including: Leader in Europe according to Dow Jones Newswire; Best Educational FX Website, Best Forex System (Forex Expo); Best Broker for Beginners (forex-ratings.com). Try Forex Club today!


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1.717 · 5 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

martinlamarque,
Vantoux, France,
Nov 15, 2018,
Registered user

COMPLAINT

Hello,

I am a particular trader and I have a very big problem with the general issue of fund protection and the incentive for big volume trading at Lirbertex.

It offers a "credit facility" to increase its initial margin in view of being able to open positions with a larger volume than that proposed by the ESMA regulations. It is a pass-through, which circumvents the rules, so that the private investor can invest more, without margin restriction. From my point of view, it is therefore a circumvention of regulations, and an incentive to trade, with always more (prohibited by the ESMA).

Example:
I have a margin available of 3118 €. I decided to open a risky position on the OR (maximum lever 1:20) and therefore with a maximum possible position volume of € 62,360.

However, the broker offers a solution of "credit facility" to inflate its available margin. In our example, we could have a credit facility of 4677 €:
That is 3118 € + 4677 € = 7,795 € with a lever of 1:20 and therefore a maximum possible position volume of 155,900 €!

155 900 corresponding to 3118 * 50! This leads to opening a position on the OR with a lever of 1:50 instead of 1:20 regulated by the ESMA.

It's absurd! I find it very very limited .. This is not legal or regulatory!

Bearing in mind that according to Article 40 (5) of Regulation (EU) No 600/2014: Article 2 (d) the supplier of CFDs does not offer the retail customer, directly or indirectly, a payment, a monetary or an excluded non-monetary benefit in connection with the marketing, distribution or sale of a CFD, other than gains on any CFDs provided; (...)

And according to Article 3: "It is prohibited to knowingly and voluntarily participate in activities the object or effect of which is to circumvent the requirements of Article 2, including by substituting for the supplier of CFDs."

I ask for compensation!

PS: You told me that you accepted your service, but it is not legal to have it offered to me without my request, and this service does not have regulations in the EU!

Sincerely and waiting to read you,
LAMARQUE Martin
Reply by FOREX CLUB submitted Nov 21, 2018:
Unfortunately, we did not find your registration in fxclub.org/libertex.org. Perhaps your question relates to another Company from the Forex Club Group of Companies. We recommend you to contact the Customer service of that broker you are registered and trade in.
Sincerely, ForexClub.org
Jaron,
New Zealand,
Feb 13, 2018,
Guest

This company is deceptive and I strongly advise that you do not open an account with them.

I've also posted this review on the fxclub.com (Forex Club) page as this is the same company.

I'd like to share my experience of my attempt to withdrawal funds from my trading account.

This company is deceptive and I strongly advise that you do not open an account with them.

The document requests are nothing but stalling tactics. If you do hold funds with this broker, I recommend when you withdrawal to follow their requests specifically (ie. you will see below the request to see my whole hand in the photo). I had to provide 8 different photos of myself holding my Passport over the last six weeks.

1st withdrawal attempt: 19 December 2017
Rejected: 20 December 2017
Document Request: Coloured photo with your passport in the hands (provided 20 December 2017)

2nd withdrawal attempt: 21 December 2017
Rejected: 22 December 2017
Document Request: Copy of utility bills (provided 22 December 2017)

3rd withdrawal attempt: 23 December 2017
Rejected: 26 December 2017
Document Request: Copy of utility bill for last 3 months (provided 27 December 2017)
Document Request: Coloured photo with your passport in the hands (provided 30 December 2017)

4th withdrawal attempt: 4 January 2018
Rejected: 5 January 2018
Document Request: Coloured photo with your passport in the hands (provided 5 January 2018)
Document Request: New coloured photo with your passport in the hands (provided 8 January 2018)

5th withdrawal attempt: 17 January 2018
Rejected: 21 January 2018
Document Request: Screenshot from your Skrill account, where we can see information about the owner of this account and successful transactions to our company (provided 21 January 2018)

6th withdrawal attempt: 29 January 2018
Rejected: 30 January 2018
Reason: The bank details are incorrect [even though they had wired to the same account previously!]

7th withdrawal attempt: 30 January 2018
Rejected: 31 January 2018
Reason: Indicated name does not match the name of the trading account holder [this is BS!]

8th withdrawal attempt: 31 January 2018
Rejected: 2 February 2018
Document Request: Coloured photo with your passport in the hands (provided 2 February 2018)
Document Request: New coloured photo with your passport in the hands (provided 5 February 2018)

9th withdrawal attempt: 5 February 2018
Rejected: 7 February 2018
Document Request: New coloured photo with your passport in the hands (provided 7 February 2018)
Document Request: New coloured photo with your passport - whole hand holding your passport (provided 8 February 2018)
Reply by FOREX CLUB submitted Feb 19, 2018:
As a global company we perform operations inline with high class financial industry standards to make sure that clients' funds are secure. According to these standards and our Terms of service we can request documents in order to verify clients' identity . Please, contact our Customer service department to resolve the issue.
Regards,
ForexClub.Org
martinfx28,
Argentina,
Jan 22, 2018,
Registered user

Unable to withdraw my funds (30k) for the last 3 months and counting

This review is for FxClub (aka Libertex).

I'm posting here too because this is the same company than the one operating FxClub.org (you can see this by going to fxclub.org and selecting any other language like English or Spanish from the top right).

FPA Traders Court ruled in my favor already.

I've been trading with these guys for almost two years (March 2016). I traded without problems making profit and even they allowed me to make a withdrawal once.

Two months ago on Oct 17, I placed a withdrawal request which was rejected one, two, a number of times. Each time they requested a different document, supposedly for AML verification.

I provided the documents in timely matter the same day they requested them. On the other hand one has to wait days, even weeks for them to reply an email. When I provided everything you could imagine and there was nothing left to ask using the AML excuse, they stop replying me and the account was put under "verification".

Verification of what? The account has been blocked/under verification ever since, and no one explained anything for the last month and a half. The only person that replies my emails once a week is an account manager that is unable to get any responses or explanations for me. According to him "internal control" doesn't provide any information about this case.

I traded FX many years and I know what's normal and what's not. This broker is showing a scam behavior, illegally withholding my funds without any explanations. We are talking about usd 30k here, it's not a couple hundred dollars.

I still have hopes of recovering my funds, I will post again when I have any update.
islam hassan ,
egypt, Egypt,
Oct 12, 2015,
Guest

i.m so sorry i ranked this company before becouse 2 stars they closed one of my trades without touch the stoploss - i was wrong - it was short possision and i did not count the spread - that was my fault

2015-10-09 2Star they closed my trade without reaching the stoploss s do not knew why ( i have screenshot for that ) ????
shihab matholi,
, India,
Nov 6, 2012,
Guest

i have real account with this company also i am trading this company last few month,i get good support and serviece from this company
Sebastian73,
Berlin, Germany,
Oct 20, 2011,
Guest

I have tried this Forex Club broker with my first trading steps since it is not so popular here to trade forex. They dont speak German but I must say service was quite good for me. They have helped me in setting up a real trading account after I practiced with their beginners tool startfx. the tool was very good for me as a beginner, before i tried meta trader 4 and that was too complicated for me, i wasnt able to start that.

So far I have been trading forex for 4 month now and I am also starting to win some money. I can recommend this company for beginners.