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• Our Review Method

• Is Libra Markets Scam or Legit Broker?

• What is Libra Markets?

• Pros

• Cons

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding Libra Markets due to the issues we've identified.

Is Libra Markets Scam or Legit Broker? ▲

Libra Markets emerges as a Forex broker that lacks the essential regulatory oversight needed to ensure traders' security and trust. Unlicensed by any globally recognized Forex regulatory body, the brokerage falls into a suspect category, potentially operating without any legitimate compliance checks or safety monitoring. This absence of regulation suggests a high risk of fraudulent operations, as the broker operates without the constraints and accountability required in the financial industry. It's a stark reminder for traders to exercise caution, as the lack of a license means Libra Markets could theoretically conduct its business unchecked, raising substantial concerns about the broker's legitimacy and safety.

What is Libra Markets? ▲

Owned by Yield Enterprise Currency Software OÜ and operating out of Riga, Latvia, despite being registered in Tallinn, Estonia, Libra Markets positions itself as a leading forex brokerage. It purports to enable secure investments and trading across various asset classes. However, the brokerage does not disclose any regulatory or licensing information on its website, a significant oversight for an entity claiming Estonian registration. Without regulation from the Estonian Financial Supervision Authority or any mention in the FSA’s register, Libra Markets lacks the authorization to provide financial services within Estonia or the broader EU. Compounding its regulatory issues, Libra Markets has faced blacklisting by the Austrian Financial Markets Authority, which explicitly states the broker's unauthorized status to conduct banking transactions or trade on behalf of others within Austria.

Pros ▲

• The broker claims to offer industry leading brokerage services.

Cons ▲

• Not licensed by any recognized global Forex regulatory authority, raising serious concerns about its operational legitimacy and safety for traders.

• Lacks transparency regarding regulatory status, trading conditions, and contact information, which are critical red flags for potential investors.

• Blacklisted by the Austrian Financial Markets Authority, further casting doubts on its legality and reliability.

• Associated with another broker, UproFx, which has faced bans from several regulators and garnered numerous negative reviews, indicating a pattern of questionable practices within the managing company.

• The website's recent inactivity and inaccessibility suggest a potential cessation of trading offerings, though the risk of unsolicited trading proposals remains for traders.

Conclusion ▲

In light of the overwhelming evidence and concerns raised, we strongly advise against engaging with Libra Markets and other unregulated brokers. The glaring absence of crucial information about the broker’s regulatory status, trading conditions, and means of contact serves as a significant warning sign for anyone considering investment. Typically, entities operating without regulation are prone to running investment scams, putting traders at considerable risk. We urge traders to seek out brokers that are well-regulated by reputable authorities, such as those in the UK or Australia, and to consider trading with established and reliable brokers like FP Markets and BDSwiss. Despite the allure that Libra Markets may present through its claims of industry-leading services, the risks associated with its lack of regulation and transparency far outweigh any potential benefits. In the rapidly evolving Forex market, the security and reliability afforded by regulatory compliance are indispensable, making the avoidance of brokers like Libra Markets a prudent choice for safeguarding one’s investments.