Livaxxen Review

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Livaxxen has emerged as a notable player in the online trading arena, but mixed reviews and regulatory concerns have raised questions about its reliability. This review summarizes user experiences, expert opinions, and key features of the broker, shedding light on both its strengths and weaknesses.
Note: It is important to consider that Livaxxen operates under different entities in various regions, which may affect its regulatory status and user experiences. This review aims to provide a balanced perspective based on available information.
Category | Rating (out of 10) |
---|---|
Account Conditions | 6.5 |
Tools and Resources | 7.0 |
Customer Service and Support | 5.5 |
Trading Experience | 6.0 |
Trustworthiness | 4.0 |
User Experience | 6.5 |
Overall | 5.5 |
We assess brokers based on user feedback, expert analysis, and factual data to provide an accurate representation of their offerings.
Founded in 2024, Livaxxen is an online broker that claims to offer a wide range of trading instruments, including forex, commodities, indices, and stocks. The broker operates on the MetaTrader 4 and MetaTrader 5 platforms, appealing to both novice and experienced traders. Livaxxen is registered with the Mwali International Services Authority (MISA), which raises questions about its regulatory framework, given that it primarily serves clients outside of major regulated jurisdictions.
Livaxxen is regulated under MISA, but the effectiveness of this regulation is debated, with warnings from various financial authorities, including the Autorité des marchés financiers (AMF) in France and the Financial Markets Authority (FMA) in New Zealand, flagging it as a potential scam.
Livaxxen supports multiple currencies, including USD, EUR, and GBP, but does not provide a wide range of deposit methods. Users have reported issues with withdrawals, particularly with bank transfers, which incur a fee of $25 for transactions under $100.
The minimum deposit varies by account type, starting at $50 for a standard account. However, some reviews indicate a minimum deposit of $500 or higher for certain accounts, leading to confusion among potential clients.
Currently, Livaxxen does not offer any bonuses or promotions, which is a common practice among many brokers to attract new clients.
Livaxxen provides access to over 2,000 financial instruments, including more than 60 currency pairs, commodities, indices, and stocks. This diversity allows traders to construct a varied portfolio.
The broker claims to have competitive spreads starting from 0.1 pips for forex pairs, but users have reported hidden fees and a lack of transparency regarding total trading costs, which can lead to unexpected expenses.
Livaxxen offers leverage of up to 1:400, which can be appealing for experienced traders but poses significant risks for less experienced individuals. The high leverage can amplify both profits and losses.
Livaxxen supports trading through MetaTrader 4 and MetaTrader 5, as well as a proprietary web-based platform, providing flexibility for users.
The broker does not accept clients from the United States and other countries on the OFAC sanctions list, which limits its accessibility.
Customer support is primarily offered in English and French, but the quality of support has been criticized, with reports of slow response times and limited availability.
Livaxxen's account conditions are a mixed bag. While the minimum deposit is low, the lack of clarity regarding account types and associated features has left potential clients confused. Some sources indicate that the minimum deposit for certain accounts is significantly higher than advertised, which could deter new traders.
The broker provides several analytical tools and educational resources aimed at helping traders make informed decisions. However, the depth and quality of these resources vary, and some users have expressed a desire for more comprehensive educational offerings.
Customer service has been a point of contention, with many users reporting difficulties in reaching support and receiving timely assistance. The absence of a live chat feature further complicates the support experience.
The trading experience on Livaxxen's platforms is generally smooth, but users have reported issues with execution speed during high volatility. Additionally, the high leverage offered can lead to significant risks, which may not be suitable for all traders.
Livaxxen's trustworthiness is under scrutiny due to its regulatory status and numerous complaints regarding withdrawal issues. The lack of transparency in its operations and the absence of a solid regulatory framework raise red flags for potential investors.
Overall, user experiences vary widely, with some traders reporting satisfaction with the platform's features and others expressing frustration over withdrawal issues and lack of support. This inconsistency indicates the need for potential users to conduct thorough research before committing funds.
In conclusion, Livaxxen presents itself as a promising trading platform with a range of features and instruments. However, the numerous red flags regarding its regulatory status and user experiences caution against investing without due diligence. Prospective traders should weigh the potential benefits against the risks and consider alternative, more regulated options for their trading activities.