Libra Markets review


Our Score


Customers score


Overall score

Libra Markets may sound like an aspiring broker company, especially since the name relates to the highly anticipated Facebook’s cryptocurrency. However, there is no correlation between this company and Zuckerberg’s latest venture. Furthermore, Libra Markets is completely unregulated with much basic information about its origin missing entirely, which would never fly with such a gigantic and successful company.

There are many things that seem to be fishy at first glance. Libra Markets does not provide any regulation and licensing information. Rather, their website only reveals an Estonian address and a company name—Yield Enterprise Currency Software. And if you don’t know, Estonia is a well-known offshore zone, with little to none regulatory frameworks and strict rules. In other words, scam brokerages are flourishing in this part of the world.

The main problem with unregulated trading companies is that you can never know for sure what you are getting yourself into. You are basically rolling the dice, and it shouldn’t be like that. Trading alone is quite unpredictable, which is why you should at least have a trustworthy broker by your side to guide you. And if you imagine the worse happening—losing your funds, finding yourself in a middle of fraud or worse, there is no regulatory body that would make sure you are protected. That’s why we recommend relying on brokers that have a big name standing behind it, such as FCA which is based in the UK. This is one of the strictest regulatory bodies in the trading community.

Platform and Execution SCORE: 27%

True to its unregulated nature, Libra Markets does not provide the MT4 platform to its users. This is a common feature (or a lack of one) that creates a big difference between you and the other clients who choose regulated brokers for their trades. The Libra Markets platform is simple which is not a bad thing, but its origin is unknown. In other words, the software that is based on is not reliable, so you are once again left to bargain with yourself if you are ready for that kind of commitment. MT4 platform, as well as MT5, have become a standard for the industry, so the fact that a trading company does not provide it to its clients is suspicious.

Libra Markets review

The trading platform still offers around 250 different trading assets such as CFDs and currency pairs. The spread is fixed at 3 pips, which is quite strange considering that Libra Markets does not exactly offer any security or reassurance behind the big numbers. Also, the leverage comes at 1:500, which is 10 times more than the industry standard. It seems that this company is trying to blind you with the big offers to hide something disturbing behind it all. The higher leverage gives you a greater opportunity for profits, of course, but it also brings a much higher risk on the market.

Withdrawal Speed SCORE: 37%

The payment options are quite modest at the Libra Markets, with only 2 options available—credit cards and bank wire transfer. The latter is particularly strange since it is considered an old-fashioned method of payment. Furthermore, for the company that offers a variety of tradable assets, it should at least offer as many methods for you to deposit and withdraw your money. For example, the company provides the opportunity to trade precious metals, CFDs and cryptocurrencies, but there are no e-wallets available to collect them.

The minimum deposit is also quite high and depends on the payment method of your choosing. For credit cards, the minimum is set at $250, but for bank wire transfers is double that amount— $500. That’s quite a serious commitment to be making to an unregulated broker. When it comes to the speed of processing your request for a withdrawal, it is unknown through their website, but you can find some comments about it made by the clients online. They claim that the wait is quite long, up to 8 business days.

Support and Assistance SCORE: 54%

The options for contacting the Libra Markets support team include the standard 3 channels. Phone, e-mail and a live chat. There are two different email addresses available as well, one for sending your documents for verification and the other for questions and queries. The support team is quite helpful and eager to solve your dilemmas, but the company could use hiring a few more members so all the clients have the opportunity to see it.

The response is not the fastest when you’re using email, so the live chat option is the safest one. And if you haven’t had much luck with either, you could try the Frequently Asked Questions page which offers a lot of answers to some basic questions when it comes to your account and trading activities.

Education and Tools SCORE: 75%

The trading section of the Libra Markets website is quite rich and extensive. You can find useful tips and tutorials under the two sections of education and market analysis. The variety of educational tools shows that Libra Markets pays a lot of attention to different levels of experience. So, no matter if you are a first timer or a trading pro, there is always something new to learn and expand your skills.

Education section covers almost everything about the trading market itself. From the basics about it to the different events that affect its functioning and performance of the assets on it. This part also covers the most common types of analysis of the trends and other trading factors, as well as common terms used in the trading community.

Libra Markets review

The market analysis contains more advanced trading tools and educational tips, such as the economic calendar which lists all the important events in the financial world that can affect your trading. Also, you can find quite useful live charts that show you the market performance in real time, so you never miss anything important.

Trust score

Platform & execution

Withdrawal speed

Support & assistance

Education & Tools

Crypto Live

Top FX Reviews

Best Brokers

Forex Guides

Top FX Reviews

Platform Our Score Customers-score Overall score Platform-execution Withdrawal speed Support-assistance Education-Tools
FXVC 87.5% 89% 88% 92% 83% 78% 97%
E Toro 83% 85% 84% 81% 93% 75% 82%
SECUREDVC 82% 80% 81.5% 73% 96% 81% 78%
24OPTION 80% 78% 79% 84% 68% 89% 76%
Stockscm 77% 79% 78% 80% 75% 65% 86%
FX PRO 76% 74% 75% 73% 80% 83% 67%
YORKCG 75% 73% 74% 82% 77% 65% 79%
FXTM 74% 72% 73% 65% 73% 81% 77%
XTB 36% 39% 37.5% 37% 25% 37% 46%
City Index 34% 37% 33.5% 26% 29% 40% 39%