Read our Crypto Liberty review to see if this broker is a scam or legit. Just to clear doubts, this is a cryptoliberty.biz review.
There is no doubt that online trading is a lot simpler and more convenient than traditional trading ever was. It has opened up the door of opportunities for many who could not even fathom the idea of trading in the financial markets.
But, you have to remember that while it does bring things right at your fingertips, it does not mean that you will be offered everything on a platter. There are some things that you still have to do, such as finding a dependable and reliable broker. This is easier said than done and you will learn this when you go through this Crypto Liberty review.
When it comes to the internet, it is best for you to take everything with a grain of salt. This is because there is no central authority that is overseeing the activities taking place online, which has made it a breeding ground for numerous scams and frauds.
The online trading space has seen plenty of these happen and in quite large numbers, simply because there is a lot of traffic so criminals have countless victims to exploit and there is a great deal of money involved, which means incentive for these criminals.
The problem is that you cannot proceed in your online trading journey without a brokerage and many of these companies are fraudulent, shady or scams. Therefore, you have to be cautious because you do not want to end up a victim of any such companies.
But, how do you do that? A lot of them appear to be quite similar and this can make it difficult to distinguish between legitimate and fraudulent platforms. However, you have to remember that there will always be differences and you just need to make some effort to uncover the issues.
You can do the same with Crypto Liberty, which is a rather curious company. Why? This is because it claims to be a crypto mining firm, a forex broker and a social movement that gives access to the financial markets. A look at its website shows that it makes a great deal of effort to sound legitimate, but you need to remember that all scammers will use grandiose terms to fool you because they just want to get in your pockets.
What exactly are the issues with Crypto Liberty? Let’s find out.
The absence of regulation
If there is one feature that is common amongst all legitimate brokers, it is the fact that they are licensed and regulated in jurisdictions where they offer their services. This means that they operate in accordance with the laws and standards and offer quality services to their clients.
The license is not just granted to any company; they have to fulfill certain requirements and meet a criteria to get it, so when you opt for a licensed company, you know it can be trusted.
Is Crypto Liberty licensed? When you go through its presentation, you will not find the mention of a license or regulation anywhere on its website. This is not reassuring at all because a genuine company will always provide details about its license so you can check and confirm. The only information that Crypto Liberty does offer is an address that shows it is based in Lithuania.
This would mean that it is part of the European Union and has to comply with the rules outlined for brokerages in the bloc. Not only does Crypto Liberty break the rules, but it is not licensed or regulated by any regulatory body in the EU, which means it is either lying about its address, or it is operating illegally. Both scenarios do not help incite trust in Crypto Liberty.
The lack of trading platform
Have you ever thought about how you trade online? How do you buy and sell instruments and keep up with the financial markets? You do it through the trading platform that online brokers provide to you. There are various platforms available and it is up to the brokerage to decide which one to offer.
Obviously you want a quality one because it needs to have the right technology and the tools that can help you make smart and profitable trades.
Therefore, always opt for a brokerage that gives you access to a professional trading platform. You would want the same from Crypto Liberty, so it is shocking to discover that it does not have a platform at all. The only thing you find on their website is some sort of chart or dashboard that you can only use for tracking your account balance.
It is a far cry from leading trading platforms like MT4 and the MT5 and this means Crypto Liberty facilitates no trading whatsoever. Why would you bother signing up with the company at all? It should be clear by now that they are just after your money.
The only payment method
There is a lot you can discover about a brokerage from their payment methods because they tell you how you can deposit your money and also how you can get it back. For instance, if you are using credit cards for your deposits and withdrawals, you have the option of filing for a chargeback in case of a dispute and this will mean that your money is returned to you. But, not every payment method comes with this option.
You will come to know that Crypto Liberty just lets you make deposits with crypto assets and this does not give you the chargeback option at all. In fact, this method is a favorite of scams because the payments made in crypto are permanent and also anonymous. This makes it easy to just take money and disappear.
Plus, you will also find that Crypto Liberty asks for a minimum deposit of $500, which is twice the standard amount. These days, most brokers are willing to let their clients open accounts for as low as $10, but Crypto Liberty is after your money, so their requirements are higher.
Once you have unearthed the issues about Crypto Liberty, you can see that it is a company that should be avoided.