Libertex review: Regulations, Platforms, Trading Instruments and Broker Ratings.

I have been waiting for a long time for a solution to my case where the ascessors call me and tell me to enter operations that I am safe and they make me lose all the money in a strange way, of course they give me the instructions so that the operation goes supposedly well but Everything is a way for you to lose everything and fast.

i did 3 months of trading. Upon withdrawal my money disappeared. They don't answer my emails. They are thieves. It's shameful.

Be careful. They loose your money and doesn’t answer or help you. They work without stop loss and with automatic increase and make you loose your whole money

13h after I made a deposit of €1000, that same amount of money disappeared from my account. In the report hub, showed a completed refund of those €1000, although I never authorized it, I didn't received any notice, and I did NOT got my money back. I never shared any details of the account with anyone and even If someone else had logged in into my account, not only I would have received a warning, but also It's the company's responsibility to try help and fix the case. I have tried to contact Libertex MULTIPLE time different ways and I NEVER got a response back! Totally irresponsible and unethical attitude!

This Broker is very bad. More than 3 years as a customer and more than U $ D3000 deposited and I have 5 days waiting for a miserable resolution of U $ D50 of a transaction whose error was obviously from the Libertex platform. The agent who attends me (Mario) is 24 hours to respond, the "analytical support" to solve my case is more than 5 days to verify a clear error of the platform (it is not quantum physics, just look at the records of my operations in question ). Finally, I'm going to another Broker.

May 18, 2019 - 5 Stars I have been trading with them for a couple of years now, i had deposited U$D2000 (in small batches over the 2 years) and i kept losing cos i don´t care for the demo account, but finally i´m starting to get profitable.

i really like the platform´s interface and their customer service agents are always there to help you out. I made a couple of withdraws from Libertex to my Skrill account and from there to my local bank. From Libertex to Skrill the deposits were made instantly, and from my Skrill account to my local bank account it took 2-3 days, so it couldn´t be any faster to get my money.

So far, this broker is excellent IMO. Their multiplier system is awesome and their customer service is always there.

All these other losers who claims that they "stole" their money are just angry newbies who can´t trade for poop and then choose to blame the broker. "They kept asking me for documents before sending me money"... Are they stupid? Of course they need all the proper info before pay your winnings, that shows you that they care for all things legal and that´s always a good thing.

Don´t blame the broker, blame your lack of effective trading strategies.

Hi guys,
You need to have a closer look on Libertex!
The .com version is the correct one (by Indication Investments Ltd.).
It seems that the .org version is a scammer's one (by TheForexClub).

I've been using the German version of Libertex.com (also as an iOS app) since 2017 without any problems. Money transfers and trading was always as it should be. The app is a bit slow though, but okay for long-term (esp. krypto) trading.

One of my German friends who lives and works in Dubai only got the .org version (for him the .com version doesn't show up on their internet).
So, he tried the .org version with $5k and now he's been running after his money since 2 months! They always blame his bank but his bank said it's all fine, but they never received a money transfer request by TheForexClub. He got $500 directly back from TheForexClub (from a bank account in Russia!) before after he complained a lot why the money wasn't sent (although the app was saying this). But now, after loads of complaints, those $5k are still missing. They sent him some transfer screenshots from a bank account in Kazahstan (!) and so on. But now he's trying to reach out to them via some international lawyers to get his money back from them. Fingers crossed he can manage to get his money back from The Forex Club (which is actually NOT Libertex (maybe it's only being used as a white label)!

Libertex is a Foreclub trading platform, I think. I'm trading on it right now. Very interesting and unusual platform with a beautiful design. I did not notice anything wrong with the company. Foreclub does not prevent traders from trading and gives profit. For several years I have never had any misunderstandings with them. I think misunderstandings occur in newcomers, because of their illiteracy.

Hello,

I have evidence that Libretex has practiced deceptive and unfair commercial practices for many on their French site in announce to be regulated AMF then this is not the case!

It cheats, because it is not regulated AMF, they propose a contract of "credit facility" which would be impossible with the French regulation.

I was fooled!
1) I would not have registered on their platform without French regulation
2) I lost 3600 € on their platform because of the "credit facility" which was not supposed to exist!

I ASK FOR A COMPENSATION! You have deceived thousands of French customers and the damage is expenetielle! For French law, your practice is punishable (in the criminal) by 300 000 € almond and 2 years of imprisonment + 20% of your turnover based on the last 3 years.

I said that I have already contacted Libertx on this point, without adequate response or compensation while the situation is VERY SERIOUS!

Best regards,
LAMARQUE Martin

Nov 15, 2018 - 1 Star 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

I have been trading with Libertex for about a year now. The reason I'm writing this review, was because I was having sudden questions when I wanted to withdraw a big amount of money (similar to martinfx28, below), so I was a bit unhappy, when I got suddenly difficult questions (I had to show screenshots of a Skrill account which I don't have), but the fact is: I called a couple of times (with Erik from customer support and my account manager Mr. J. Molter) and I was able to solve it within a few hours, and I have had my money withdrawn and received WITHIN 36 hours of the first difficulties.
So, now everyone here gets the impression, that Libertex is not trustworthy, I feel obliged to tell my side of the story as well here. I do understand people can get frustrated when they feel like they get impossible questions, only when they want to withdraw money. But that doesn't make Libertex not trustworthy. To give Libertex a fair and balanced review (instead of people who - perhaps understandably - got frustrated after an issue), here is my review of Libertex.

MY REVIEW

First the positives:
1) I have tried lots of different brokers and trading apps (eToro, iqOption, Bux, Plus500, markets.com, FXPro and more), but when it comes to a good, customer-friendly application, then the Libertex-app is the best. (Although iqOption has some real flashy graphics, it's just too complicated to navigate there)
2) Also, I studied many CFD contracts of the different trading apps, and I think Libertex has the best rates. Example: BUX has no spreads, but very high commissioning rates to start with. iqOption has very low commissioning rates (you will even receive money when you do a Bitcoin short there), but they have HUGE spreads (currently up to 10%.. this means you basically start trading with -10%), but the great thing about Libertex, they have zero spread AND very low commissioning rates AND very low overnight financing fees. As far as I can see, this is the cheaperst broker overall (spreads, commissioning rates, financing fees) than Libertex.
3) Also: compared with other apps, Libertex has a huge amount of tradable products. For example: Brent-Oil (e.g. not on eToro and BUX), interesting forex pairs like USD/TRY (not on many apps) and lots of Cryptocurrency.

Really good so far, yet here is something which can be improved:
1) Libertex could improve by ensuring that they know which validated bank account is linked, as soon as you deposit money. I think it will lead to unnecessary negative reviews in future, when people (e.g who don't speak a lot of foreign languages) have a lot of trouble to withdraw their money.
2) Libertex has recently introduced obligatory stop-loss limits, stating it was necessary due to ESMA-regulations on CFD's (came into effect on August 1st, 2018). Although other brokers (who have no obligatory stop-loss) told me the only necessity is to introduce a 50% margin close-out rule, Libertex told me they had no other choice. However it may be, as a result, when trading on Libertex, your trade gets an automatic stop-loss (which can be higher, depending on the multiplier you are using). This makes, at least to me, the trading at Libertex more risky, because it's hard to be certain that a trade won't drop with 5% or 10% before it goes up with 40%.

In summary my fair and honest review of Libertex:
+ best user-friendly mobile app
+ lowest rates (no spreads, low commissioning, low overnight financing fees)
+ huge amount of tradables
+ and in the end, to me at least, one of the few trustworthy brokers
- initial questions for funds withdrawal when withdrawing large sums of money
- obligatory stop-loss for each trade

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)