First of all, libertmark.com is barely 2 months old, yet they want to provide an avenue for investing in the financial markets.
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I don’t know how LibertMark is supposed to compete with established brokers that have built their reputation around trust and integrity.
However, based on the design of their website, you’d think they are popular, innovative and trustworthy.
They even claim that they have 1 million active traders in their database.
I think this is a bold statement to make and of course no proof will be forthcoming in such cases.
Their data also show that their traders are making an average return of 14.2%.
I don’t know where they’re getting this data from and whether it’s their intention to mislead us.
I know for a fact that LibertMark is actually taking traders for a ride since my background search on the Alexa website shows that the website has been getting less than 30 visitors per day.
So what is the intention or what exactly is motivating this broker to lie?
Probably this is driven by the desire to look genuine and established so as to get new clients.
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Is LibertMark a legitimate broker?
Their website states that Libert Mark is a broker owned and operated by a company called Arigon Advance Limited Kingstown.
Arigon Advance Limited Kingstown is operating out of St. Vincent & The Grenadine.
The St.Vincent & The Grenadine is an infamous offshore location most preferred by shady financial institutions.
To tell us that Libert Mark is situated in this region is to admit that our money won’t be safe.
This is because St. Vincent & The Grenadine does not have any strong financial regulatory framework unlike countries like the US, UK and Australia for instance.
I don’t know whether any serious investor would be comfortable ‘investing’ with an offshore broker specifically from the St. Vincent & The Grenadine.
With all the risk at hand, it would be best to avoid these brokers altogether.
What does LibertMark sell?
They sell a trading platform where investors can trade Forex, Stocks, Commodities and Indices.
Their trading platform is LibertMark WebTrader as opposed to the popular MetaTrader software.
This is the first disappointment but also a common thing with offshore brokers that don’t have any reputation.
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Account types are beginner, pro and expert.
The minimum deposit for opening a beginner account is 250 Euros.
If you want to upgrade to the pro level, you’ll pay 2,500 euros.
Lastly, the expert level account is for traders who want to pay 25,000 euros.
Every LibertMark account type has a deposit bonus of at least 15%.
We all know that offshore brokers are cheeky and controversial when it comes to deposit bonus and terms and conditions governing them.
So avoid deposit bonuses at all cost.
What is the cost of trading here?
As always, I expect limited transparency with these Forex brokers.
Instead of giving is information about their spreads, they just want us to sign up and start trading right away.
This pressure-like sales tactic is bad to traders as financial decisions must never be made hastily.
I cannot even open an account here if I don’t know what spreads I’ll be paying.
It’s that simple.
Of course they’re not regulated?
LibertMark is not one of your regulated brokers.
This should not come as a rude surprise because we already know their location and the way brokers in this region do business.
In the end, any trader who signs up with LibertMark must be ready for anything like restricted withdrawals and even the loss of their funds.
LibertMark is not a honest broker. It’s just a matter of time before we see negative customer feedback about them.
The broker is definitely operated by a fraud team.
This is why they can’t get most of the basics right.
They don’t even understand that customers need integrity and assurance, and one way of achieving this is to seek a license and not establish base where neighbors are all rogue brokers and financial institutions.
Thanks for reading. This was just a short review of LibertMark.
Just don’t give them your money.