LiraFX Review – Meet Lirafx.com, New Broker On The Market
LiraFX is an anonymous firm claiming to operate under the governing law of the United Kingdom. Furthermore, the company claims to have offices in Belgium and Greece and is licensed by the Securities Commission of these countries. Here’s the whole truth about LiraFX, uncovered in our review.
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||N/A|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
What About LiraFX Regulation?
LiraFX doesn’t list a company owner; the support phone number has a Cyprus country code, but it’s a false number, and all we’re left with is a support email. Furthermore, the company claims to have a license by EUSEB, European Security Exchange Brokerage, and GRESEC, Greek Security Exchange Commission. Knowing that the Greek regulator is HCMC, and Belgium has its own regulator FSMA, we can easily say these two alleged regulations are fake.
Why Must a Broker Have a License?
Brokers, especially those claiming to operate in Tier1 zone, such as the UK, Greece, and Belgium, ought to have a license to regulate their business. Firms cannot provide financial services or offer trading advice without proper authorization. LiraFX is not registered with FCA or any other Tier1 regulator, meaning it’s yet another scheme trying to mislead you and convince you to invest.
Traders Reviews About LiraFX Scam
LiraFX already has a vast of negative reviews and complaints. Clients explain that they’re lured into investing with an allegedly legitimate European firm, only to find out they’re dealing with a scammer. Once they request withdrawals, this broker tends to freeze their accounts and not let them reaccess the funds. If you recognize yourself in this story, it’s time to file a dispute for a chargeback.
Supported Trading Platforms – Available Trading Software
The only option clients have with LiraFX is an anonymous WebTrader. This firm didn’t even provide a branded platform but a software they borrowed from another firm, exposing your funds and personal information to a third party.
The platform itself has an asset overview, balance overview, and the possibility to check trading history. It cannot even be compared to legitimate software such as MT4 or MT5.
Everything About LiraFX Accounts
LiraFX doesn’t have specified account types. Instead, it claims to offer speed and flexibility and fast payment processing worldwide, with 1,500 trading assets and raw spreads. The minimum deposit is $250, and it’s unclear whether or not you will get any perks if you upgrade your account. It’s left to account managers to make up anything to persuade you to invest more.
LiraFX Range of Trading Instruments & Markets
If you’re trading with LiraFX, you can get access to the following markets:
- Currency pairs – EUR/USD, ZAR/USD
- Commodities – gold, oil
- Cryptocurrencies – BTC, XRP
- Stocks – FB, AMZN
- Indices – DAX30, NIKKEI225
Also, keep in mind the names of the trading scams Global Ventures, Gravity Trade, FNPMarkets and avoid them at all costs! So, before investing, always check the background of online trading companies!
LiraFX Unknown Trading Conditions, Payment Methods, And Fees
While claiming to offer raw spread, LiraFX says nothing about other trading conditions. The leverage is nowhere to be found, meaning your funds are exposed to unknown risk. Besides, there’s no information about conditions for the raw spread and if there’s any spread range. The company provided barely any information about payment methods and charges, making this whole experience a big red flag.
Deposit fees are not disclosed, leaving it to the broker to charge as much as possible. Withdrawal fees allegedly go from 1 EUR commission for Visa cards to 2% for Neteller and 1% for Skrill withdrawals. Stay away from the LiraFX trading scam.
LiraFX Deposit and Withdrawal Methods
There’s a quite confusing and most likely incomplete list of accepted payment methods. According to its website, the broker accepts:
- Visa card
While we cannot understand why it wouldn’t take other credit cards or wire transfers, we’re sure this information is misleading as everything else on this website.
What to Do if I Get Scammed by LiraFX – Tell Your Story
If you find yourself a victim of a LiraFX scam, you need to file a dispute for a chargeback right away. It’s a time-limited process, so acting now is of utmost importance.
But What Is A Chargeback?
This is a way for your bank to recover the funds from the merchant. We’re here to assist, evaluate your case, and help you in the recovery process. Book your free consultation, and let’s start!
What Is LiraFX?
LiraFX is an online Forex and CFD trading provider with no license.
Is LiraFX a Scam Broker?
LiraFX provided two fake regulations on its website, misleading clients that they’re dealing with a legitimate firm.
Is LiraFX Available in the United States or the UK?
The company is available in both the UK and the US without regulations.
Does LiraFX Offer a Demo Account?
There’s no Demo account or any account types with the LiraFX broker.