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The Liberty International Review
The Liberty International has attached all the requisite legal documents. This is good because we can poke more holes into the broker’s story. One of the alarming statements we found is that the T&Cs are subject to St. Vincent and the Grenadines-which is funny because SVG does not have forex laws.
Found a broker with a too-good-to-be-true offer? Well, there is a 95 percent chance that it is a scam! Online forex trading has become increasingly popular as investors seek out new sources of income and ways to diversify their portfolios. However, as online forex trading has grown in popularity, so have fraud risks. Unlicensed brokers have increased in online marketplaces, deceiving gullible traders and investors- which brings us to The Liberty International, a con broker.
Investors can easily access international markets and invest to supplement their income using the forex platform. A reliable internet connection is all an investor needs to engage in online forex trading. However, that is not all there is to it.
The truth is you need to conduct generic research on brokers to establish if there are best for you. Resources like FINRA come in handy as such agencies reveal if the broker has ongoing legal proceedings.
Even if FINRA clears the broker, your research should not end there. Next, you should scour through its website to ascertain whether it is a trusty forex broker. As a headstart, we will share some alarming findings that indicate that this is a shifty broker.
According to the website, TheLibertyInternational owns and operates this broker. However, we find it strange that a company claiming to be a global brand has an obscure corporate background and no registration number.
The Liberty International claims to avail over 200 trade instruments, including stocks, commodities, crypto, forex, and indices. Investing with this broker supposedly gives traders access to a customized trading platform, a transparent trading environment, risk management services, and safe and secure funding accounts. Also, testimonials from traders who have reportedly interacted with and enjoyed the platform are conspicuous, but this does not mean they are true. Before you take their word for it, notice that this broker knows the right buttons to push to persuade you.
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The broker has not disclosed its corporate address. Nonetheless, it has provided telephone contacts insinuating that it operates from the U.K. and Canada. These details should be public if the broker is in the U.K. or Canada. We believe the broker is in neither country. We cannot recommend a broker operating anonymously, whether the address was omitted deliberately or by mistake.
The Liberty International advises traders to contact them via telephone or email. At least the broker is willing to reveal their contact, but only because it suits them. How? You may ask. Well, because that is the only way you can play yourself right into their arms! It is thus not advisable to contact them.
Deposit & Withdrawal Policy
The Liberty International allegedly accepts deposits via credit cards, wire transfers, Bitcoin, Ethereum, and e-wallets. However, when you want to deposit, the broker asks you to contact them for further guidance. This might be a ploy to manipulate you through weird instructions, such as depositing funds to an anonymous e-wallet.
As a rule, engage with brokers whose deposit methods are straightforward. Most authentic brokers have flexible deposit options, which are by no means complicated. Also, confirming that you can file for a chargeback if necessary is prudent.
However, the above step will not be necessary in this broker’s case. This is because the broker explicitly states that under no circumstance will they refund deposits. The broker also requires you to agree to another ridiculous term- that you will not make or attempt to reverse any deposits you make. This broker’s audacity is beyond imagination because why would it give such demands when it’s your money in question? The red flags cannot get any redder!
Regarding withdrawals, the broker states that the minimum withdrawable amount is 100 USD/GBP/EUR. Also, the broker deducts a 1% withdrawal fee from your balance for every withdrawal you make.
The Liberty International’s investment plan comprises five account packages and a VIP program. The first is the Starter account, requiring a minimum deposit of $250. These traders get crypto wallet introductions and tailored trading platforms. Next, the Basic plan requires a trader to deposit at least $10000. On top of the benefits of the Starter plan, basic traders get a dedicated account manager and limited eBooks and video lessons. The third plan is the Advanced account. To open this account, a trader must deposit not less than$50000. Traders in this plan also access unlimited video lessons, eBooks, and personalized education.
Next, the Premium account has a funding threshold of $100000. Premium traders additionally access personalized trading academies. Lastly, the Fly High account has a minimum deposit requirement of $250000. The perks that come with this plan include personalized lessons with analysts and level 1 withdrawal prioritization. Those with advanced customization needs can subscribe to the VIP program.
The minimum deposit requirements for this broker are way too high. The only explanation we have for such amounts is that the broker wants to pocket as much as possible. Since there are genuine brokers with cheaper accounts, why don’t you try them instead?
The Liberty International Trading Conditions
The Liberty International has attached all the requisite legal documents. This is good because we can poke more holes into the broker’s story. One of the alarming statements we found is that the T&Cs are subject to St. Vincent and the Grenadines-which is funny because SVG does not have forex laws. The broker further claims that its bonus policy is subject to the Republic of Estonia. These are inconsistencies that you should not overlook!
The broker offers bonuses to traders. However, to withdraw such bonuses and associated profits, you must reach a trading volume of 50,000. This is a hard-to-meet standard, and it is meant to keep you from accessing your money.
The FCA, CySEC, and ASIC limit leverage to 1:30 to protect you from incurring devastating losses in market downturns. The 1:500 leverage violates this capping confirming that it is unregulated. This leverage this broker has makes you susceptible to significant losses.
The Liberty International purports to have an innovative trading platform accessible via mobile phones and desktops. While this platform will allow you to perform basic trade executions, the experience will not be optimal. This is because the web-based platform has design and technical limitations, such as unsupported auto trading, preventing you from exploring possibilities.
For a fulfilling experience, engage legit brokers with MT4 or an MT5 platform. The two platforms meet the industry standard thanks to their cutting-edge features enabling maneuverability. This way, you get value for your trades.
Regulation Status of The Liberty International
Since the broker’s contact details suggest it is Canada and the U.K., we checked with both countries. As expected, we did not find the broker’s credentials in Canadian Securities Administrators’ and FCA’s databases. Also, why would this broker be subject to SVG and the Republic of Estonia’s laws if it is in Canada or the U.K.? The logical answer is that it is in none of the four countries. We can conclude that we are dealing with an unregulated offshore broker.
There are several risks inherent in an unregulated broker. For one, your funds are not secure as this broker intends to keep them from you. Moreover, when this broker vanishes, you will not get compensated.
The Liberty International is undoubtedly an illicit broker. Besides operating anonymously, the broker trading conditions breach forex regulations. Also, the broker does not shy from making its intention of keeping your money known through outrageous demands against chargebacks and funds reversals.
If you are serious about getting reasonable returns from forex, your search for trustworthy forex brokers must also be serious. These brokers are regulated and compliant with reputable financial watchdogs. Therefore you can confidently invest with them without fear of being conned.