What is Liber Forex? Is Liber Forex a reputable trading platform?

Liber Forex is a trading platform that has gained some recognition in the market, but its level of credibility and safety remains uncertain. Due to these concerns, many financial investors are cautious or even skeptical when invited to join or receive services from this platform. So, what exactly is Liber Forex? Is it true that there are rumors about the platform engaging in fraudulent activities, often referred to as “scams”? Let’s explore the details below to learn more.

What is Liber Forex? What is LIBFX?

Liber Forex is a platform that uses LIBFX, a cryptocurrency that operates as a utility token on the LiberForex exchange. The purpose of LIBFX is to raise capital from the community and expand the market for trading platforms.

LIBFX is a self-issued token by the Forex Liber Exchange, and it has been in use for about 4-5 months. It’s similar to Huobi’s HT token or Binance’s BNB token. To own LIBFX, investors need to purchase investment packages ranging from $500 to $50,000. For those familiar with tiered loans, this operation is similar to those investment structures.

After receiving the investment, LiberForex will convert it into LIBFX at a rate of 1 LIBFX = 50 USD. Depending on the investment package, investors can earn a return of around 8-16% per month. According to brokers, if investors know how to invest correctly and sufficiently in LiberForex, the value of LIBFX could potentially increase by hundreds of times, making LiberForex seem similar to a Ponzi scheme.

Legal Status of Liber Forex

Many questions have been raised about whether LIBFX is a scam. However, according to official information published by WikiFX (a website that tracks operating licenses for trading platforms), Liber Forex has registered an official operating license in the United Kingdom. Despite this, the platform does not comply with any financial conduct regulations from the UK’s Financial Conduct Authority (FCA).

Liber Forex provides full images of its business registration license from Belize, which may deceive investors into thinking that it has a legitimate license. However, there is no operating license listed on the IFSC (International Financial Services Commission) homepage, meaning that Liber Forex does not have any recognized operations confirmed by IFSC. Therefore, Liber Forex has likely forged its operating license.

LIBFX is currently listed on Crex 24 and ProBit exchanges. However, contrary to expectations, the liquidity of the platform is extremely low, and Liber Forex has encountered significant problems with withdrawals. Therefore, if investors are considering investing in this platform, they should be extremely cautious and conduct thorough research to avoid unnecessary risks.

In Vietnam, Liber Forex does not have an operating license, meaning that the platform is not legally operating in the country. No banks are supporting transactions with this platform, and therefore, investments made by Vietnamese investors in Liber Forex will not be recognized.

Some Strange and Unusual Aspects of the Liber Forex Website

A few things that you should pay attention to about Liber Forex are its official website and its unusual activity. Not only is there a discrepancy with the operating license, but if you look at Liber Forex, you will see that it operates three different websites simultaneously. All of these sites were established in May 2020, and there is very little concrete activity on them. These websites are: LiberForex.net, LiberForex.global, and libermx.com.

The common point of these three websites that we can easily notice is that the information on them is very vague, unclear, and not transparent, thus proving that they are all “illusory” and users cannot find any useful or truthful information here.

LiberForex.net is advertised as the official website of Liber Forex. However, it only contains some very complete articles that are still vague regarding information related to Liber Forex. This address is anonymous. LiberForex.global is a website designed for trading, and investors can only register to create an account. After completing the registration, users can deposit and withdraw money, set up accounts and software accounts, and then trade on MT5, the only trading platform.

Libermx.com is only referred to as a “cage” that helps Liber Forex easily attract investors to join the project quickly and on a larger scale. To participate, you need a referral code to register at all levels. At this point, we might ask why Liber Forex separates these three websites instead of combining them?

This is one of the issues you need to pay attention to, and any investor wanting to learn more should ask questions about this matter to carefully consider before making an investment decision.

The LIBFX coin is only listed on a small-scale exchange.

The LIBFX coin is currently traded most frequently on an exchange called Hobbit. The Liber Forex team has to pay money to list them on Hobbit and Probit. This helps the Liber Forex broker more easily attract investors.

LIBFX offers an unreasonable profit rate for investors.

Liber Forex introduces a self-issued cryptocurrency for electronic financial investors, called LIBFX. They then encourage investors to participate in various investment packages. There are six packages available, ranging from $500 to $50,000, with interest rates from 8% to 16% per month, depending on the package. Investors buy LIBFX coins and then convert them into points.

In addition, according to what Liber Forex implements, the lowest package offers an interest rate of up to 96% per year, while the highest package has an interest rate of up to 192% per year, which is 1,632 times the interest rate. The brokers also promise that the LIBFX coin will increase in value in the future, allowing investors to quickly double their profits.

This is definitely a very attractive figure that blinds many people when it’s launched to attract investors. Anyone investing in finance will want to quickly earn profits, and when they see the immediate gain, they won’t consider the internal situation or the quality of the service. You must ask yourself, if the profits are so high, where does Liber Forex get the money to pay the investors?

According to the statement, this money will come from Forex brokerage activities. We can immediately see that this seems unfounded, and experienced individuals will certainly have no trouble spotting this. Therefore, don’t be complacent, conduct thorough research before investing.

How is the Ponzi multi-level model of Liber Forex evaluated?

It can be said that Liber Forex operates under a multi-level commission model. Specifically, 6% for F1, 5% for F2, and 3% for the subsequent stages. This is a Ponzi scheme where money is made by paying interest to those who participate and must attract new, unsuspecting people into their network. Additionally, the more people someone “refers” to invest, the more they thrive and receive various benefits.

This is definitely a very attractive way to structure things, drawing many people to blindly follow. Due to these high profits, many investors have found ways to lure their families and friends to join. Some individuals have earned referral commissions of up to 100 million per day.

Is the Liber Forex exchange and LIBFX coin a scam?

With the information above, you probably already have a sense of whether LIBFX is a scam or if the Liber Forex exchange is trustworthy. However, perspectives and opinions can differ, so if you want to get involved, you should conduct your own research to get the most objective assessment. From there, you can decide whether or not to invest.

Above are all the detailed answers regarding the Liber Forex exchange. We hope that through this article, we have provided you with specific guidance to avoid mistakes when joining a fake exchange and reduce risks for yourself. As mentioned earlier, for any exchange you wish to join, make sure to research and evaluate it thoroughly beforehand.