NO.1 OPTION Forex Broker provides real users with * positive reviews, * neutral reviews and 2 exposure review!
Risk-free trading program that protects against losses on select accounts.
User-friendly trading platform with advanced features like Fibonacci and pivot calculators.
24/7 customer support available through multiple channels.
Numerous complaints and allegations of fraudulent practices, raising concerns about trustworthiness.
High minimum deposit requirements, particularly for premium account types.
Not available to U.S. traders, limiting accessibility for some potential clients.
NO.1 OPTION is a not regulated company. Do not give them any money - you are probably not getting it back. The owe me 25,000 php since 2020, not willing to pay it back. They do not even respond or react on legal letters from a local lawyer.
They got my money away. It was about $100. Please help.
Libord Brokerage stands as a prominent financial services provider in India, offering competitive trading options tailored for diverse clientele, including retail investors, beginners, and experienced traders. With a focus on customer satisfaction, Libord promotes low-cost trading but poses potential challenges due to mixed reviews and transparency issues. While the allure of cost-effective trading may draw in users, caution is advised as hidden fees and concerns about trustworthiness linger. Each prospective client must weigh the benefits against the drawbacks, especially regarding the broker's opaque ownership and customer service record.
Verification Steps:
| Dimension | Rating (out of 5) | Justification |
|---|---|---|
| Trustworthiness | 2 | Opaque ownership raises concerns about overall transparency. |
| Trading Costs | 3 | Competitive commissions counterbalanced by potential hidden fees. |
| Platforms & Tools | 4 | Offers a range of platforms, suitable for both beginners and pros. |
| User Experience | 3 | User interface is accessible but complaints highlight service inconsistencies. |
| Customer Support | 2 | Mixed reviews suggest weaknesses in responsiveness and issue resolution. |
| Account Conditions | 4 | Attractive account setup with zero initial deposit; however, high withdrawal fees apply. |
Libord Brokerage Pvt. Ltd., a flagship company of the Libord Group, was established in 1994 and has since made significant strides in the Indian financial market. Initially operating as a stock broker, the firm now serves as a trading and clearing member of the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), as well as the Multi Commodity Exchange (MCX). Its headquarters in Mumbai points to its deep-rooted positioning within India's burgeoning financial ecosystem. Although Libord has cultivated a robust reputation over the years, its mixed reviews and hidden ownership details have led to growing apprehensions within the investor community.
Libord Brokerage offers diverse trading services across various asset classes, including equities, commodities, and derivatives. The company stands out through its online trading platforms, available on desktop and mobile devices, making it accessible for both novice and experienced traders. Regulatory oversight is provided mainly by the Securities and Exchange Board of India (SEBI), ensuring that Libord adheres to standards set forth for financial institutions in India. The brokerage aims to deliver not just trading capabilities, but also educational resources and support to empower its clients for better market engagement.
| Feature | Details |
|---|---|
| Regulation | SEBI (Z-000006536) |
| Min. Deposit | ₹0 |
| Leverage | Up to 1:20 |
| Major Fees | ₹20 per trade in F&O; ₹30 withdrawal fee |
Libord's trustworthiness is undermined by its hidden ownership information, raising red flags about transparency. According to sources, Scamadviser gives Libord a trust score of 77 out of 100, implying an acceptable level of safety but highlighting concerns regarding the anonymous ownership. The identity of the website owner is concealed under privacy protection services typically used to disguise owners for legitimate reasons, but this anonymity complicates verification efforts for potential clients.
While Libord has garnered positive testimonials for its trading platforms, user feedback reveals significant complaints regarding fund safety and withdrawal issues. As one user notes:
"I had issues withdrawing my funds and their customer service was slow to respond."
This sentiment underscores the necessity of independent research before engaging with the brokerage.
Libord touts competitive trading commissions, including zero charges on equity delivery trades and mutual funds for the first year, making it an attractive option for cost-sensitive traders. Initial reviews suggest this has attracted numerous clients seeking to maximize trading profits without being burdened by fees.
However, traders have reported hidden costs, particularly in withdrawal fees. For instance, users have cited a withdrawal fee of **₹30**, which could accumulate significantly for active traders. Complaints illustrate increasing frustrations with unrealistic fee structures that are not immediately transparent, leading to an environment where low initial costs may entice users, but additional fees can emerge later.
For retail investors, Libord's pricing can seem beneficial, especially compared to traditional brokers. Nevertheless, advanced traders must consider the total cost of operation, including potential withdrawal fees, which may diminish the attractiveness of the initial zero-cost trades.
Libord provides a variety of trading platforms, designed to cater to both novice and professional traders. With web-based platforms accessible via desktop, laptops, and mobile apps, users can trade comfortably across devices. This blend caters to different user preferences, although the steeper learning curve may challenge beginners.
The brokerage has been noted for its extensive range of charting tools and market analytics, which are crucial for day traders and those seeking to execute nuanced strategies. Users reported positive feedback regarding the resource availability. However, clarity on cost for using advanced tools is sometimes lacking.
The user experience score remains moderate at best, with concerns surrounding the platform's intuitiveness. One user commented:
"The app is generally user-friendly, but the occasional lags can cause frustration during critical trades."
This perception highlights the need for ongoing improvements to enhance performance and account handling.
While many clients appreciate Libords user-friendly mobile app, the overall experience is compromised by inconsistent customer support. As new traders navigate their initial investments, clear and proactive guidance becomes crucial.
Users have expressed dissatisfaction with the speed and effectiveness of account management services. Feedback reveals long wait times for customer responses, especially during peak trading periods.
The platform's infrastructure appears promising, yet its clienteles experiences suggest the need for comprehensive support systems to quickly and effectively resolve issues.
Libord's customer support has attracted scrupulous reviews, with many reporting lengthy response times and inadequate resolution of issues. Such inefficiencies can deter new and existing clients from fully trusting their engaged services.
Available support channels range from live chat to email, but user experiences suggest these services are often overwhelmed, resulting in dissatisfaction among clientele. Some have expressed concerns through testimonial reviews, indicating substantial gaps in infrastructure.
In the field of customer service, Libord shows promise but requires extensive improvements in staffing, training, and response management to meet the demands of its user base.
Libord's account conditions have generally been seen as favorable for new investors, with benefits such as zero brokerage and paperless account openings. With easy onboarding, this attracts many users seeking accessibility.
Despite appealing external conditions, some clients have indicated that unexpected costs associated with maintaining an account—primarily linked to withdrawals—can dampen the otherwise advantageous terms.
The brokerage's account offerings are competitive on a surface level; however, users must remain vigilant about the true cost of maintaining their accounts against their potential earnings.
As retail investors consider Libord Brokerage for their trading needs, the evident mix of competitive pricing and concerns surrounding transparency and customer service creates a complex landscape. While it presents an opportunity for cost-effective trading, it's imperative for prospective clients to conduct thorough investigations before committing capital. Users are encouraged to leverage the resources available, seek clear and honest communication, and stay informed about the broker's reputation. Ultimately, caution is advised as clients navigate this evolving financial brokerage environment.
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