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The LiMarkets is yet another offshore and unregulated platform offering high leverage. There’s no serious regulator that would allow a platform to offer leverage of 1:500. And this is exactly what Li Markets offers to investors. And this means there’s a high likelihood you will lose large due to the high leverage. Despite having an aesthetically appealing website. Something’s off with the platform. Here’s the full THE LIMARKETS REVIEW.
According to their homepage, their goal is to provide the best trading experience. If this were the case, they would have offered insurance cover for deposits made. Now, investors have to worry about the effects of bankruptcy or insolvency. There won’t be any compensation!
At first glance, the platform looks appealing due to the red and white color scheme. For newbies, The LiMarkets looks like a perfect place to start investing. However, before jumping and making rash decisions, there are a few key issues to note.
Claims of being a sustainable business management service provider are false. The platform already has several complaints under its belt. Most of the complaints center on the platform’s inability to process withdrawals on time.
To avoid such delays, you need to invest in a platform that offers innovative investment solutions. These include using groundbreaking solutions such as Coin staking, DeFi, and Masternoding. It’s the future for investing and earning realistic income.
The Li Markets, on the other hand, does not offer any meaningful way of investing. Instead, you get traditional ways of investing with a platform that lacks regulation. The latter is the final nail to the coffin in regards to safety.
Thanks to years of experience in investing and trading, we know where to look for red flags. And thelimarkets.com is filled with red flags all over. So please get to know what we found out and avoid any platform with similar features.
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The LiMarkets offers four investment plans with the minimum deposit set at $1. These four accounts include Cent, Classic, Pro, and VIP. All accounts come with the same maximum leverage of 1:500.
Here’s a closer look at each of these four accounts
Cent
It’s the most basic account and comes with a minimum deposit of $1. Spreads start from 1.6 pips, and the minimum lot size is 0.01. There are zero commissions, and the account offers Islamic and swap-free accounts.
Classic
With a minimum deposit of $100, the classic account comes with spreads of 1.6 pips. It shares the same characteristics as the cent account. The only difference is the minimum deposit. It doesn’t make sense to open the classic account.
Pro
There’s a call to take advantage of low commissions and raw spreads with the pro account. According to the platform, it’s the most popular account. However, it comes with a minimum deposit of $100.
The account comes with a commission of 2 per side per 100,000 traded. It’s better to have this account than the classic account. We don’t see the reason for having the classic account in the first place.
VIP
It’s the most exclusive account and comes with a minimum deposit amount of $50,000. The difference between this and other accounts is the commissions and deposits. You get commissions of 1 per side per 100,000 traded.
Members get over 100 trading instruments with predetermined spreads. Hedging and scalping are permitted with the platform offering instant execution. You should note that these accounts don’t come with any help. It seems the accounts are for seasoned investors and traders.
Funding options listed on the platform include bank transfer, Bitcoin, MasterCard, Neteller, Skrill, and more. Payment through third-party sources is not accepted. Depositing is fast, and the funds will reflect in your account in less than five minutes.
Withdrawing funds is one grey area as the platform fails to inform users of the process. As a result, we have seen several complaints from users who can’t make withdrawals. And these are the risks that come with offshore and unregulated platforms.
One of the reasons why we have to flag down this platform is the bonus and promotions. The Li Markets offer two bonuses on the platform. These include a deposit bonus and a welcome bonus.
For every deposit you make, the platform promises to make a 115 percent deposit bonus. It means they match your deposit amount and add 15 percent of it. And this is where we know for a fact The LiMarkets is a fraudulent platform.
There’s no way a platform can manage to make such huge bonuses to investors. It would be best if you also remembered there’s a 30 percent welcome bonus for newbies. We know for sure they are using this to trap investors.
Regulators have in the past blocked any platform that offers bonuses. Members won’t get to withdraw funds unless they pay back the full bonus amount. The platform is likely going to hold your funds for ransom.
To protect investors, regulators completely banned the use of bonuses. And this is why such platforms evade this by registering in offshore places. These platforms are mostly registered in the Marshall Islands and St. Vincent, and the Grenadines.
The disclaimer at the footer of their homepage shows The LI Capital Markets LLC as the parent company. It’s registered in St. Vincent and the Grenadines. Unfortunately, we don’t get to see the names of people working for the platform.
Despite having all aspects of trading, anonymity is a risky feature. There’s not a single mention of anyone working on the platform. And this makes the platform a huge investment risk. In addition, there’s no way of knowing when they will decide to close shop.
You can only leave a message when it comes to making contact with support. There are no phone numbers to use to make direct contact. And this makes the platform a risky investment platform. It’s no way to treat your customers.
One of the few positive aspects of the platform is availing of a demo account. With a demo account, you can test a platform and see how it behaves. In addition, the demo account comes integrated with the MT5 trading terminal.
The LiMarkets is not a licensed entity despite posting a license number. For all we know, the platform is posting random numbers as license numbers. There are no documents to prove they are duly licensed.
A licensed platform will post copies of their license documents for all to see. Therefore, we recommend you use platforms licensed by reputable platforms. These include ASIC, CNMV, CONSOB, CySEC, FCA, and the SEC.
One of the few positive aspects of the platform is offering an MT5 trading terminal. It’s regarded as one of the best for various reasons. These include having an intuitive platform and offering users advanced tools.
Your funds are far from safe with an offshore and unregulated platform. There’s no security cover for deposits made. With the platform failing to comply, regulators won’t protect your interests.
Here are the various reasons why we don’t recommend The LiMarkets
These are the reasons why we doubt the credibility of the platform.
You need to use expert-backed investment options that have been tried and tested. It’s the best move to make when investing.
If you have any queries, feel free to leave a comment or write to us.
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