LiveMarkets.io Review: Is Live Markets a Scam?

 
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LiveMarkets.io is a broker that offers a variety of Cryptocurrencies for trading.

They claim that LiveMarkets has become the preferred destination for Crypto investors and traders from across the world.

The broker boasts of power, efficiency, security and cost-friendliness which is their greatest selling point.

Live Markets offers Crypto CFDs for trading which includes altcoins and mainstream ones like Bitcoin, Ethereum, Ripple and Litecoin.

The broker offers 4 types of trading accounts to its clients. Their features are listed below:

Basic Account: Minimum deposit: $250

Spread: Not disclosed

Account Manager: Yes

Trading Bonus: 50%

Silver Account: Minimum Deposit: $10,000

Leverage: 1:20

Spread: Not disclosed

Senior Account Manager: Yes

Trading Bonus: 75%

Technical education: Yes

Gold Account: Minimum Deposit: $25,000

Leverage: 1:30

Spread: Not disclosed

Executive Account Manager: Yes

Trading Bonus: 100%

Technical and fundamental education: Yes

VIP Account: Minimum Deposit: $50,000

Leverage: 1:40

Spread: Not disclosed

VIP Account Manager: Yes

Trading Bonus: 150%

Technical and fundamental education: Yes

Daily trades: Yes

It is quite unfortunate that Live Markets is operating with a regulator’s authorization.

Secondly, they are operating business out of the Commonwealth of Dominica, which is an offshore region.

Since LiveMarkets.io is offering its services or at least targeting clients residing in UK and the European Union in general, they should consider applying for a license from the respective financial organizations.

Therefore, based on this disadvantage, traders should think twice before they can put any money into the account of this broker.

There are lots of unregulated brokers showing up on the internet lately.

These include brokers such as Blue Sail Trading, BinBull, FastTradeOptions and many more. As a rule of thumb, you should generally avoid such brokers.

LiveMarkets.io Review

This broker claims to be owned and operated by a company known as Ventura Communication Ltd.

Traders can call them on this phone number +3726991469 or reach their support through support@livemarkets.io.

In as much as this broker claims to be providing a lot of benefits to traders and investors in general, we feel that the disadvantages far out-way the advantages.

LiveMarkets.io review

The only supposed advantage offered by LiveMarkets Crypto broker is that they have a minimum deposit of $250.

This is fair considering that some brokers have a minimum of $500 which might not be ideal for traders who don’t want to risk much upfront.

They claim that their trading platform is fully encrypted and that they’re offering fast and accurate execution.

These claims are hard to verify unless we sign up and try their services. Unfortunately, we don’t see any link that allows us to create a demo account.

Why you might not want to invest with LiveMarkets.io

The first thing you’ll notice is that this broker is offering a strange trading platform which is different from the usual MT4 or cTrader platforms.

The latter are preferred to in-house trading platforms provided by some of these brokers.

MT4 is currently the most popular trading platform for Forex pairs, stocks and other assets which also includes Cryptocurrencies.

The reason most traders love it is because it is robust and compatible with hundreds (if not thousands of trading indicators and software).

Some of the products we’ve recommended here for Forex traders are actually used on the MT4 trading platform but can’t be used on trading platforms found with brokers such as LiveMarkets.io.

Illegal bonuses

Their most expensive account to open is promising a trading bonus of 150%.

This can seem exciting to most newbie traders but people should also know that trading bonuses are just a trap.

They are illegal in EU and brokers who are regulated don’t offer such bonuses to their clients because they are also highly controversial.

If Live Markets broker is offering these bonuses, one stands a chance of being tricked to lose their investments.

Unfavorable withdrawal conditions and fees

Live Markets charges 10% which they call “inactivity fees”.

This is not how legit brokers behave towards accounts that have run dormant.

In fact, most brokers don’t charge such fees at all but even if a broker decides to charge a fee on your account for lack of activity, they’ll do it only after a year of not trading.

Therefore, this is a weird practice which is meant to steal from traders instead of making them prosper.

Another issue with Live Markets is that if traders withdraw $30 or less, they’ll be charged a fee of $25.

That means a trader withdrawing $30 will end up with $5 in their pocket.

This is not a common practice and traders should take note before they ever invest with a broker like Live Markets.

LiveMarkets.io review: the broker isn’t regulated

The reason this broker can afford to charge such fees is because they’re unregulated and not accountable to any financial regulator.

You should expect such disadvantages from an offshore broker who is unregulated. They are always not credible.

When a broker is regulated, it means safety of their customers’ funds. If they are not, the broker can decide to close down and run away with funds.

They can’t be traced and certainly the less fortunate client will lose all their investments.

If you want to trade with a broker registered in the UK, they must be regulated by the FCA.

If this broker is based in Cyprus, make sure they are regulated by the Cysec.

If they’re operating out of Australia, there is ASIC which is also a popular regulator in the region.

Any broker who avoids regulations is definitely hiding something.

Conclusion

There’s no way an unregulated broker like LiveMarkets.io can be trusted.

Their trading conditions are not good and details such as spreads have not been disclosed.

An offshore broker is most of the time a No unless they convince us otherwise.

And with the weird fees that LiveMarkets charges, one is justified to shun this broker at all cost.

Thanks for reading this LiveMarkets.io review.

Let’s read your comments below this review.

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6 thoughts on “LiveMarkets.io Review: Is Live Markets a Scam?

  1. Do you want to submit a broker or comment about their scam activities? BrokerProfile is the uncensored forum where you can discuss freely about good and bad trading service providers..
  2. Mikele

    I just wanted to write something here as one of the people these guys try to scam or already succeeded to do that.
    I have deposited some money even before checking on the web about any possible scams and review (my fault)
    So how they work, they assign an account manager to you that is telling you all sweet stories about trading profits and bonuses. Of curse I never accepted any bonuses because the document they sent was unclear about what exactly happens with my money if I sign up for bonus.
    I was trading for few days and it was all going as it should, some profits were earned so my account manager asked for another deposit and explained how that is good way to earn more money. It seemed like something I could do but of course not the amount they requested, I invested another $250 and again refused any bonuses.
    My account manager said that’s ok, let’s continue trading and we made around $1000 in 10 days.
    Than one day a guy from their company that is trading within their “Trading Academy” called me and said all the details about my trading history and said he talked to my account manager and that they both agree we can stat with larger amount for trades. I said ok, so I did put few trades as he suggested but in 20 minutes I lost $850. He really said this “shit we need to do damage control” and I asked what that is in this case, so he responded that a guy from that department for damage control will call me.
    He did call me in an hour and said I need to deposit another $1000 and they will give me a bonus of $2000 so we can trade and get my money back.
    I said no way I will deposit any more money and I want to continue trading on my own. They said ok.
    So I was trading for few weeks and started earning money. , got to $1200 from $250 by my self. Today I received a call that I have made several trades as “scalping” (opened and closed withing 5 minute period) and they said that is forbidden. So now, some other guy called me and said he will be responsible for my account.
    When I told him I want to withdraw my money he said I will call you back. Hi did call me back in 10 minutes and said that it is my money but they can not allow me to withdraw because of that scalping. So, they gave me 2 options, either to suspend my account or they give me a bonus to continue trading for few weeks and than I could withdraw my money.
    Once again I asked if that money is mine why I can not withdraw and got the same answer, because I did several trades as scalping.
    When I said I need everything in writing (email) for whatever they are allowing or not allowing along with that blackmail to accept a bonus, that guy said someone from compliance team will contact me and explain everything. I said ok, I need to have all that in email for proof so my lawyer can check everything before I continue doing anything with them. I haven been contacted yet, it’s been 10 hours now.
    AVOID this platform, most probably you will loose your money. You will be called constantly fro more deposits, on purpose loosing money so someone can do damage control and ask even more money.
    I hope I helped someone not to make mistake I did and loose money.

  3. Do you want to submit a broker or comment about their scam activities? BrokerProfile is the uncensored forum where you can discuss freely about good and bad trading service providers..
  4. Mikele

    I just wanted to write something here as one of the people these guys try to scam or already succeeded to do that.
    I have deposited some money even before checking on the web about any possible scams and review (my fault)
    So how they work, they assign an account manager to you that is telling you all sweet stories about trading profits and bonuses. Of curse I never accepted any bonuses because the document they sent was unclear about what exactly happens with my money if I sign up for bonus.
    I was trading for few days and it was all going as it should, some profits were earned so my account manager asked for another deposit and explained how that is good way to earn more money. It seemed like something I could do but of course not the amount they requested, I invested another $250 and again refused any bonuses.
    My account manager said that’s ok, let’s continue trading and we made around $1000 in 10 days.
    Than one day a guy from their company that is trading within their “Trading Academy” called me and said all the details about my trading history and said he talked to my account manager and that they both agree we can stat with larger amount for trades. I said ok, so I did put few trades as he suggested but in 20 minutes I lost $850. He really said this “shit we need to do damage control” and I asked what that is in this case, so he responded that a guy from that department for damage control will call me.
    He did call me in an hour and said I need to deposit another $1000 and they will give me a bonus of $2000 so we can trade and get my money back.
    I said no way I will deposit any more money and I want to continue trading on my own. They said ok.
    So I was trading for few weeks and started earning money. , got to $1200 from $250 by my self. Today I received a call that I have made several trades as “scalping” (opened and closed withing 5 minute period) and they said that is forbidden. So now, some other guy called me and said he will be responsible for my account.
    When I told him I want to withdraw my money he said I will call you back. Hi did call me back in 10 minutes and said that it is my money but they can not allow me to withdraw because of that scalping. So, they gave me 2 options, either to suspend my account or they give me a bonus to continue trading for few weeks and than I could withdraw my money.
    Once again I asked if that money is mine why I can not withdraw and got the same answer, because I did several trades as scalping.
    When I said I need everything in writing (email) for whatever they are allowing or not allowing along with that blackmail to accept a bonus, that guy said someone from compliance team will contact me and explain everything. I said ok, I need to have all that in email for proof so my lawyer can check everything before I continue doing anything with them. I haven been contacted yet, it’s been 10 hours now.
    AVOID this platform, most probably you will loose your money. You will be called constantly fro more deposits, on purpose loosing money so someone can do damage control and ask even more money.
    I hope I helped someone not to make mistake I did and loose money.

  5. Do you want to submit a broker or comment about their scam activities? BrokerProfile is the uncensored forum where you can discuss freely about good and bad trading service providers..
  6. Albert Gunnar

    wealthwatchs,com saved me from livemarkets. They refused to grant me withdrawals for a year and they were fund of asking for more money. I reported them to the police and they closed my account. The police did nothing to help me get back my money until i reached out to wealthwatchs

    1. TopedgeFX Team

      wealthwatches is a scam and you know that you’re the owner or affiliate of that scam. So you receive kickbacks for every referral who goes there and gets scammed a second time. I approved your comment here to expose your intentions. Otherwise would have marked it spam

  7. Do you want to submit a broker or comment about their scam activities? BrokerProfile is the uncensored forum where you can discuss freely about good and bad trading service providers..
  8. Naser Si Gugle

    I-Coin (former LiveMarkets) is very dangerous ! ! ! I started with them in November 2019. Firstly I deposited 400€ and later on more, by persuading of the agent, total of 2500€. They gave me on top of it 2500€ bonus. (DO NOT ACCEPT EVER ANY BONUS-you would have to reach a turnover of 20000×2500=50 000 000).
    Firstly I was trading (and scalping) with the agents/brokers.(According to them it is illegal.)They were saying buy/sell according to Bloomberg and opening and closing trades within/under 5min.(At that time I didnt know what scalping even mean) When I started to trade on my own after some time it happened I closed a few trades on my own under 5 min which they used for sending me a warning. I asked them wtf do they mean when brokers do the same with me?
    After some time I got a second warning and then my account was blocked. They said I breached the conditions and that they will quit on me and close my account, offering me 10% of my initial investment (250€=*uck that!)

    On top of it, while trading, the platform several times performed a trade under not re-freshed buy and sell buttons (see pic.attached) which resulted in immediate loss of half of the invested amount. This happened many times loosing me over 10000€. I asked for refund <= *uck off!

    Simply the company is registered in Commonwealth of Dominica and you will get *hit if you try to sue them as there is no law regulations above them ! ! !

    As of now there is nearly 8000€ on the account which I cannot touch and they want to run away with it ! ! ! I am trying to reason with them but it seems hopeless. The energy and time wasted is priceless and I hope I saved somebodys energy by this short resume.

  9. Do you want to submit a broker or comment about their scam activities? BrokerProfile is the uncensored forum where you can discuss freely about good and bad trading service providers..
  10. Naser Si Gugle

    I-Coin (former LiveMarkets [and whatever crappy name it will hold afterwards to deceive people]) is very dangerous and criminal organisation ! ! ! I started with them in November 2019. Firstly I deposited 400€ and later on more, by persuading of the agent, total of 2500€. They gave me on top of it 2500€ bonus. (DO NOT ACCEPT EVER ANY BONUS-you would have to reach a turnover of 20000×2500=50 000 000).
    Firstly I was trading (and scalping) with the agents/brokers.(According to them it is illegal.)They were saying buy/sell according to Bloomberg and opening and closing trades within/under 5 min.(At that time I didn’t know what scalping even mean) When I started to trade on my own after some time I closed a few trades on my own under 5 min which they used for sending me a warning. I asked them wtf do they mean when brokers do the same with me?

    After some time I got a second warning and then just after another mistake my account was blocked. They said I breached the conditions and that they will quit on me and close my account, offering me only 10% of my initial investment (250€=*uck that!). In the end they gave me my initial investment back but kept all the profit which I earned for themselves (5000 € ! ! !)

    On top of it, while trading, the platform several times performed a trade under not re-freshed buy and sell buttons which resulted in immediate loss of half of the invested amount. This happened many times loosing me over 10000€. I asked for refund <= *uck off!

    Simply the company is registered in Commonwealth of Dominica and you will get *hit if you try to sue them as there is no law regulations above them ! ! !

    As of now I only have the initial money back and rest of the money on the account was stolen and they run away with it ! ! ! The energy and time wasted is priceless and I hope I saved somebody's energy by this short resume.
    https://uploads.disquscdn.com/images/45a86b347ddd68b6a1607c001e466f0bff5b1afc1cd8e7ac0d17113f7b557cf1.png
    1) If you read this before you enter: I seriously do not recommend!
    2) If you have already entered, do not say anything about withdrawing all when reaching the turnover (if you accepted the bonus). They try whatever to prevent you from withdrawing!!! And record all your calls and do screenshots if anything goes wrong!
    3) If you you are already in dispute with them and still can trade,do not close a single trade under 5 min (maybe those who are going in loss).
    4) If you in dispute and and cannot trade due to blocked account, insist on the initial investment to be returned.
    5) If they *ucked with you and run away with all of your money… I am really sorry… !

    If you have further questions and want some proof, email me at smartman@post.cz (had to change my original email as I signed some confidential crap about spreading this facts [obviously screw that] so no names).

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