LiborTC Review – An Introduction
Fake addresses and not having a license approved by the authorities is two of the main characteristics of a fraud broker. These brokers will not only bluff about having an office, a full-fledged license from the authorities of the country they work in but also claim to be the best in the trade and lure the customers with fake opportunities and rewards.
LiborTC is one such scam broker whom we are going to review today. Libor TC is a clone firm as said by the FCA the regulatory authority of the UK. FCA announced and also issued a warning against Libor TC as this company was scamming people in the pretext of being another company under a similar name which has been authorized by the FCA. Libor TC works and offers its trading platform in three countries, namely, the USA, Australia, and Europe under the name of an imaginary license and all the other lies.
We strongly recommend the public to do thorough research in the broker companies before investing your hard-earned money.
LiborTC claims to have its office in Threadneedlestreet in London. However, upon researching, we have found out that this fact is completely false and no such office exists for this company. The fact that LiborTC doesn’t have a license or an established office checks off the two most important checkpoints of scam brokers. This broker company offers 4 different types of trading accounts under the names Gold, Silver, Bronze, and Black. If you want to open an account with LiborTC, they charge a minimum initial deposit of 500 EUR. This again checks off as a red flag as the minimum initial deposit for licensed broker companies range from $1 to $5. While the minimum amount of some of the trading options ranges from 5000 to 25000 EUR, the account activation for the Black Trading option is through invites only. This is yet another cleverly planned strategy by this fraud company to bring in more customers and steal their money. They accept three modes of payment, namely, credit card, bank wire, and ePayment. Like all the scam brokers, Libor TC also works by calling random people under the false pretext of being a licensed broker company which is approved by the FCA. Upon realizing that the person is new to the trading field, they coax the customers into depositing more money and start the process of scamming them.
Although they promise and publicize hassle-free withdrawal on their website, Libor TC charges a hefty amount starting from $50 to process the withdrawal request along with commissions and money under the name of fraud names. This type of withdrawal will lead you to spend more money than you have gained from the trade thus leading to your losses. Libor TC also offers bonuses on their trading options that you may not be able to resist but one must know that such bonuses are never offered by a licensed company. These bonuses are often accompanied by terms and conditions which the user may not be aware of before. This yet again leads to debt traps and losing all the life savings by the customers and commissions for the traders.
Is LiborTC a scam or legit?
The broker in this case is yet again an unregulated company without a license. They scam people in the name of a licensed company and thus is proved as a clone firm by FCA, the regulatory authority of the UK. We highly recommend you to not fall for their bluffs and offers that they might promise. We also suggest you trade money with licensed trading companies only.