LiveTrade Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
Business
License
The person who called me told me that they were one of the most reliable brokers in the market, with one of the best services, which was not the case when investing the transactions noe.saln. I also wrote a message and did not receive any response.
In this comprehensive review of Livetrade, we delve into the broker's overall reputation, user experiences, and the critical aspects that potential traders should consider before investing. The consensus among various sources indicates that Livetrade is an unregulated broker with a concerning reputation, leading to numerous complaints and warnings from users. Key features include a low initial deposit requirement, but the lack of regulation raises significant red flags.
Note: It is essential to understand that the regulatory status of Livetrade may vary across different jurisdictions. Therefore, potential investors should exercise caution and conduct thorough research to ensure their safety and security.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 3 |
| Customer Service & Support | 4 |
| Trading Setup/Experience | 3 |
| Trustworthiness | 2 |
| User Experience | 3 |
We assess brokers based on user feedback, expert opinions, and factual data from multiple sources.
Founded in 2018, Livetrade is an online trading platform that claims to provide various financial services, including forex, commodities, and indices trading. The broker operates from the United States, specifically from Lewes, Delaware. However, it lacks proper regulatory oversight, which is a significant concern for potential clients. Livetrade does not support popular trading platforms like MetaTrader 4 or 5, opting instead for its proprietary web-based trading platform. The absence of regulatory licenses raises questions about the safety of client funds and the overall trustworthiness of the broker.
Regulatory Status:
Livetrade is not regulated by any recognized financial authority. Multiple sources indicate that it operates in a legal gray area, with no valid regulatory information available. This lack of oversight is a major red flag for potential investors. According to PediaFX, traders are advised against opening accounts with unregulated brokers like Livetrade due to the associated risks.
Deposit/Withdrawal Methods:
The platform allows various deposit and withdrawal methods, including bank transfers and credit cards. However, the exact currencies supported remain unclear, with no specific mention of cryptocurrencies. The minimum deposit is reportedly low, making it accessible for new traders, but this is countered by concerns regarding withdrawal difficulties, as noted in multiple reviews.
Bonuses/Promotions:
Livetrade does not currently offer any bonuses or promotional incentives, which is a common strategy among unregulated brokers to attract clients. The absence of promotions may be a sign of the broker's focus on maintaining operational integrity, but it also reflects a lack of competitive offerings compared to regulated brokers.
Asset Classes:
Livetrade provides access to a limited range of financial instruments, including forex, CFDs, and commodities. However, the lack of clarity regarding the specific assets available for trading is concerning. Users have reported a lack of transparency regarding the trading conditions and the types of assets they can trade.
Costs:
The cost structure, including spreads and commissions, is not well-defined in the available reviews. Many users express dissatisfaction with hidden fees and unclear pricing, which is often a tactic used by unregulated brokers to maximize profits at the expense of clients.
Leverage:
There is no specific information available regarding the leverage offered by Livetrade. This lack of information can be indicative of a broader issue with transparency, which is a common complaint among users of unregulated brokers.
Allowed Trading Platforms:
Livetrade does not support any of the widely used trading platforms such as MT4 or MT5, which may limit the trading experience for users accustomed to these tools. Instead, it offers a proprietary platform that has received mixed reviews regarding usability and functionality.
Restricted Regions:
While Livetrade claims to operate globally, the absence of regulatory oversight means that it may not be legal for residents in certain jurisdictions to trade with this broker. This could lead to complications for users attempting to withdraw funds or resolve disputes.
Available Customer Support Languages:
The broker provides customer support primarily in English, but there are also indications of support in other languages. However, the effectiveness and responsiveness of customer support have been criticized, with many users reporting long wait times and unhelpful responses.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 3 |
| Customer Service & Support | 4 |
| Trading Setup/Experience | 3 |
| Trustworthiness | 2 |
| User Experience | 3 |
Account Conditions:
Livetrade offers a low minimum deposit, which is appealing to new traders. However, the lack of various account types and unclear trading conditions diminishes its attractiveness.
Tools and Resources:
The platform provides minimal educational resources and market analysis tools, which are essential for traders looking to enhance their skills and market understanding.
Customer Service & Support:
User experiences highlight significant issues with customer support, including long response times and inadequate solutions to problems.
Trading Setup/Experience:
The proprietary trading platform lacks the features and reliability of established platforms like MT4, leading to a subpar trading experience for users.
Trustworthiness:
The unregulated status of Livetrade and the numerous negative reviews contribute to a low trust rating. Users are advised to be cautious and consider alternative brokers with regulatory oversight.
User Experience:
Overall user experiences have been negative, with many complaints regarding withdrawal issues and a lack of transparency in operations.
In conclusion, while Livetrade may offer an accessible entry point for new traders, the significant concerns regarding regulation, user experiences, and overall trustworthiness make it a risky choice for potential investors. The reviews consistently emphasize the need for caution when considering this broker.
FX Broker Capital Trading Markets Review
