Detailed review of the “black” binary options broker LibraOption, customer reviews
Trader’s Guide: LibraOption Binary Options Broker
LibraOption is a brokerage company that has managed to gain a rather unfavorable reputation in the financial market. The firm is registered in the Caribbean and offers standard facilities for conducting high-risk operations with binary options. However, despite this, LibraOption does not take any responsibility for potential losses and does not ensure stable capital growth. Numerous negative reviews about the activities of this company can be found online. A detailed overview will help beginners in trading understand that the broker LibraOption does not always fulfill its commercial obligations.
Portal Activity Overview
The Russian version of the website is available at libraoption.com/ru. The main way to contact the company’s managers is through email at support@libraoption.com. LibraOption provides information on earning opportunities using classic binary options. It is not surprising that one of the main criticisms of resources like libraoption.com revolves around the repetition of the same fraudulent scheme. This can be easily noticed by researching the name of the fictitious company to which such websites are registered. They all promise easy earnings on binary options without the necessary financial knowledge.
However, behind all the attractive promises, there is no legal responsibility, even formally. LibraOption openly states that trading binary options involves high financial risks, and if an investor fails, the blame is solely on them. However, LibraOption portal does not present any analytical reviews confirming their trading methods.
It is important to note that the content on the site raises suspicions regarding localization. Despite having a Russian version, the translation of materials on economic strategies from English is not provided. This is problematic for a broker targeting the post-Soviet space. LibraOption claims to have advanced earning methods, but the absence of original materials and negative client reviews indicate otherwise.
Technical Aspects of Portal Operation
The site libraoption.com is technically implemented quite well. The main menu of the site contains all the necessary elements, and the buttons work smoothly. The site is equally convenient for use on both a computer and a mobile device. However, despite all the technical merits, personal data of the specialists who directly communicate with clients cannot be found on the site.
Trading Conditions
Detailed trading conditions on LibraOption are not provided. The advertising strategy boils down to the “sixty-second policy.” Users are offered to buy binary options, assuming that an experienced trader would close a profitable deal once a minute. There is a certain distinction for verified users and clients whose accounts are not confirmed. Only verified users can work with offers with a maximum payout of up to 45%, and only a person who has confirmed the account and deposited $2,000 is considered an “investor” according to the site’s terminology.
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Schemes of Deception on libraoption.com Site
Scam sites often present themselves as international companies with extensive experience and partnerships with leading financial analysts. However, in reality, ordinary call managers with Russian names call clients. The fraud scheme includes attracting clients to demonstration trading and then making insistent demands to deposit their own funds.
This is followed by the second stage – justifying the request for funds transfer and blocking them in the client’s account. Analytical information and real data are absent. Attempts to reclaim funds can face technical difficulties and broker refusal.
Confidentiality of client data and funds is not guaranteed. Under the guise of technical problems, scammers try to obtain the client’s banking details for further machinations and then simply cease interaction.
Analysis of Reviews about libraoption.com Site and Fraud Methods
A detailed review of comments about the broker shows standard fraudulent practices and the absence of positive reviews. LibraOption clearly does not care about its reputation, as it believes it is easier to create a new domain than to invest in promoting its company.
Conclusion on LibraOption Broker
Recovering funds from this broker is practically impossible. Supervisory authorities in the Caribbean countries show little interest in such companies, and attempts to resort to legal actions usually fail. The only reasonable advice is to avoid LibraOption and not engage with it if possible.
Author: Sasha Chaika