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LiveTraderFX is a broker that has a registration certificate from Seychelles. However, this document does not mean much when it comes to the legitimacy of a scheme. The entity is not licensed by the financial body of the country
LiveTraderFX is a company that mainly deals with cryptocurrency trading. Some of their available assets are; Bitcoin, Litecoin, Dash, XRP, among others. The venture also avail; indices, commodities, forex, and stocks. The firm claims that customers can yield high profits by utilizing technology.
The broker brags it trades at high speed. However, their trading results are nowhere to be seen. The registration process is straightforward and swift. They accept deposits via Bitcoin. Cryptocurrency payments limit investors from issuing a chargeback. The funds will go directly to the con artists’ wallets.
LiveTraderFX brags it has the best security measures. Unfortunately, the company fails to disclose the bank accounts they use to segregate funds. SSL certificates will not be enough to protect your data when shady individuals are the ones managing your funds.
Invest with some of the leading forex trading companies in the market. These are platforms that have been in the market for years. The grant fund safety and their performance is visible to anyone interested in viewing. Trading wisely can help you increase your savings.
LiveTraderFX is a platform that fakes even at times in the market. The scheme states that they have been in the industry since 2013. We fail to understand why they can lie about minor details, primarily when a company’s general check-up was founded. Therefore, the entity lacks a trading history.
Their services are accessible to investors in over 150 countries. They do not have a license. This means that the broker does not mind breaking the law so long as they keep getting funds. The trading environment that the entity creates is dangerous. The venture is targeting both novice and expert traders.
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However, they can only trap innocent investors who are starting in the market. The vision of LiveTraderFX is not to assist investors. They are only looking for ways to steal your money.
Moreover, the qualifications of the individuals behind the venture are unknown. You may end up thinking you are entrusting your cash to a professional, yet there are no trading activities taking place. There are better investment schemes in the market that clients can use.
How Does LiveTraderFX Operate?
This is something that we cannot fathom. The entity does not state how they intend to make clients profitable. The firm is only bragging of their years of experience, which is another false statement. Con artists are brilliant.
They pay for adverts. Innocently you will believe this is it, an ideal opportunity to become rich. However, the moment you accept their offers, you are done. You can lose everything in a blink of an eye. Their marketers are convincing.
They will have hidden information that shall be revealed during your withdrawal request. Ponzi schemes start asking for taxes and other hidden fees. They take access to your account by assuring you that they are managing it. The reality is that these are unqualified individuals. They will cut all communication and exit the market.
Contact details and Customer Support
LiveTraderFX is a venture featuring a phone number and an email address. They do not have a social media presence. The support operates five days a week. The code of their phone shows they are from the United Kingdom. Nonetheless, it would help if you were not quick to believe this information.
This is because scammers are prone to manipulation. They use generic addresses for them to appear transparent. There is nothing positive that comes from this platform. Their support will also stop responding to your messages when they realize you have run out of funds.
Your personal information is at risk. The offshore firm can use it against you or sell it to criminals. You can earn better returns if you invest with legit brokers. Avoid dealing with discrete firms.
Additionally, there is no proof of payment. The broker does not have client reviews. If this is a genuinely profitable scheme, then individuals would be endorsing them. They are only surrounded by uncertainty.
Trading Conditions of LiveTraderFX
The company, after showering itself with praises it availed a web trader interface. This is one of the virtual platforms in the industry. It lacks powerful features compared to the MetaTrader.
LiveTraderFX offers a spread of 2 pips which isn’t profitable to investors. You will be paying more. There are legit companies that grant investors even 1 pip and below. Moreover, the platform leaves out data of their leverage. Clients have every right to know what they are signing up for.
Withdrawal and Deposits
LiveTraderFX accepts a minimum deposit of $250. The company is trying to persuade clients to deposit more funds for them to get higher profits. The suspicious platform leaves out information regarding the withdrawal requirements. This is a big red flag.
We have enough reason to believe that the broker will withhold the payment. They state there are applicable fees but fail to elaborate on the same. The venture is only looking for ways to steal from innocent people.
Regulation and Registration Status of LiveTraderFX
LiveTraderFX is a broker that has a registration certificate from Seychelles. However, this document does not mean much when it comes to the legitimacy of a scheme. The entity is not licensed by the financial body of the country, FSA. Despite the country having a financial watchdog, they are lenient compared to other regulators in the market.
For instance, the FSA only requires an investment scheme to deposit $50,000 only in their name. This is insufficient funds, and clients may never be compensated if a scheme exits the market. FCA requires a capital of 730,000 EUR, while the NFA $20,000,000.
Moreover, the financial body in Seychelles does not mandate the investment entities to safe keep users’ funds in segregated accounts. Hence, investors’ money is at risk. Additionally, the individuals that will be handling your money are anonymous. The financial bodies ensure that companies operate in full transparency.
Instead of risking your funds with LiveTraderFX, trade with genuine firms. Your money will be secure, and you can sleep soundly. Furthermore, these are platforms that report their daily investment activities to the regulators.
The Domain Insight
Livetraderfx.com is a scheme that has a traffic of 547,223. It seems the sales pitch of the venture is working in their favor. Several investors are checking out the scheme. According to Whois.com, the firm was established in January 2021. This is not what the company claims. The domain name will expire after one year. The chances of them coming back online are slim. We recommend that you deal with a broker that has a trading performance.
LiveTraderFX is not the company for you. This is another offshore venture that will leave you high and dry. If you want to generate real-time profits, we suggest that you research thoroughly to avoid losing money to the wrong platform.
Here is a list of some of the leading forex trading entities in the market. You will sleep soundly knowing that your safety is taken care of. Additionally, you can generate passive income. The ventures also have testimonials from their clients to make sure to check them out.