LiveMarkets Review – Is LiveMarkets.io Safe or Scam?

LiveMarkets.io states on their website to be the best place for cryptocurrency traders and investors across the globe. The trading platform offers CFDs on selected cryptocoins like BTC, ETH, XRP and LTC with options of four types of accounts offering leverage up to 1:40 and trading bonuses up till 150%.

The basic account type requires a minimum deposit of $250, while the silver account needs a minimum deposit of $10,000. There is a gold account with minimum deposit of $25000 and a VIP account with minimum deposit of $50,000.

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Bitcoin Era

Best Trading Robot

86% Declared Win-rate
$250 Deposit
Accepts Credit Card
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Being based on the Commonwealth of Dominica, they aren’t regulated and hence they cannot offer any type of fiscal services on regulated markets of UK and European Union. So, before thinking of investing your funds with LiveMarket, make sure you go through these points:

Advantages of LiveMarkets

Accepts min. deposit

LiveMarkets requires a lowest deposit of $250 which basically the same as the other brokers and this is the only positive point about this broker. But other brokers like IG and FBS offer a trading account with just $5 or so.

Disadvantges of LiveMarkets

Not licensed

A Ventura Communication Ltd. Part, LiveMarkets is an offshore company established in the Commonwealth of Dominica, but its payments are done through Fostira OU. It is not licensed to render monetary services in the regulated markets.

One should remember here that trading with a well-regulated broker is the best way to avoid getting scammed. So, it is advisable that you choose a broker which is regulated by Financial Conduct Authority or Cyprus Securities and Exchange Commission or Australian Securities and Investment Commission.

Trading bonuses

The broker offers trading bonuses up to 150%. Though it may appear attractive firstly, but in reality, it is a trap. Trading bonuses involve controversial practices which are banned in the regulated markets. Trading bonuses have loose strings attached like requirement of minimum trade volume, minimum withdrawal amount etc.

Unusual withdrawal fees and regulations

If you haven’t traded for 60 days on LiveMarkets, it will charge you 10% of inactivity fee. That’s not right. Most brokers charge you this fee after a year of inactivity. If you request for profit withdrawal, you will charge $25 as withdrawal fee.

It doesn’t support MetaTrader4

This is the biggest drawback. The platform doesn’t support MetaTrader4. It offers a web based platform which lacks a lot of standard features.

It doesn’t accept Skrill payments

LiveMarkets accepts payments via Bitcoins and credit cards like MasterCard and Visa but doesn’t accept Skrill. It may be because Skrill only partners with regulated brokers and LiveMarkets is an unregulated broker.

Verdict

So, all in all, LiveMarkets is an unregulated, poor credit, offshore broker which cannot be recommended to traders for known reasons. As proper regulation is a major factor you should consider for the safety of their funds, hence a broker as unreliable as LiveMarkets cannot be trusted. Only choose brokers which are regulated by FCA in the United Kingdom, ASIC in Australia and CySEC in Cyprus as a trading platform for the safety of your funds and better trading experience.

TRADING ROBOT RATING PROPERTIES TRADE

Bitcoin Era

Best Trading Robot

86% Declared Win-rate
$250 Deposit
Accepts Credit Card
Try Bitcoin Era With a Trusted BrokerRead Bitcoin Era Review

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