Are you looking for an online broker? It does not matter which financial market has caught your interest, whether it is forex, stock, indices or commodities, you will require the services of one. This should be simple enough because all you have to do is Google. There is not exactly a shortage of these platforms and new ones keep popping up every now and then. But, this is also a massive problem because you have to pick one broker from the sea of them you will find. You can take advantage of this Liquidspro review to make a decision.
It is essential to remember that every broker may promise you professional services, but the quality can and does vary. Your focus should be to ensure you are not falling into a trap, as there are scam and fraudulent platforms around. There are countless stories of people who were entrapped by such platforms and ended up losing their money, or had their personal information stolen. You do not want to end up in the same situation and this means digging in deep to uncover the truth. The same approach should be taken in the case of Liquidspro, which appears to be a one stop shop for every trader out there looking to trade in the financial markets.
They seem to be offering the tightest of spreads, along with account management services and this makes Liquidspro quite an attractive platform for people. But, is it the truth? Unfortunately, you will find that this is all window dressing because Liquidspro is not what it seems to be. There are a great number of problems with the brokerage and these include:
Blacklisted by regulatory authorities
One of the most prominent features of authentic and genuine brokerages is that they have a license issued by regulatory authorities for offering their trading services. Licensed and authorized platforms are considered trustworthy because they have to comply with standards and laws and can also be held accountable in case of a problem. The opposite is true of unlicensed and unregulated platforms. You need to check the status of Liquidspro as well because this can help you in making the right decision.
When you dig deeper to check for its regulatory status, you will find that not only is Liquidspro not licensed, it has actually been blacklisted by the regulatory authorities in Belgium. Indeed, the Financial Services and Markets Authority (FSMA) that regulates brokers in the country has blacklisted Liquidspro and referred to it as fake. This is enough evidence for you to realize that it is not a legitimate brokerage at all.
Conflict of interest
While the lack of regulation and licensing is enough to convince you about the fraudulent nature of Liquidspro, you can find further proof why it does not fall in the good category. As mentioned earlier, it appears that Liquidspro is offering you trading services in the financial markets, along with account management services. This is an outright conflict of interest because one platform cannot offer you both because it will go against their own interests.
Online brokers by their nature are known as market makers, which means that they will be able to profit every time traders lose. When you make a losing trade, they earn a profit. The same applies to Liquidspro, so how can they manage your account? If you hand over the control of your trading account to their team, they are more likely to squander your money on losing trades to benefit their own interests. It will give them the returns they want and leave you empty-handed. Therefore, legitimate and authentic brokers do not offer trading and account management services together.
Lack of reliable trading software
The trading software that a broker provides is extremely vital to your trading journey because you have to use it for conducting all your trades and transactions. It shapes your trading experience, so you definitely want the best platform that can be found in the market. A look at Liquidspro shows that it promises its clients a proprietary trading platform that it has named Liquidspro Trade Station (TTS). It claims it is the ultimate platform meant for beginner traders.
Moreover, it also promises the MetaTrader 5 (MT5) to its clients, which is recognized as the top trading platform in the market. However, you will not be able to access either of the platforms on Liquidspro and this makes it a scam broker. No legitimate company would ever prevent you from accessing the platform and checking it out.
If all the aforementioned problems with Liquidspro were not enough, you will find that there are more. When you are scouring their website in order to check out their offerings and assess them properly, you will notice that they have the icons of Team Viewer and AnyDesk available. These are quite well-known as remote desktop applications, which means they can offer you access to your PC environment from anywhere, as long as you are connected to the internet.
While these apps are undoubtedly convenient because they give you access to your files and data, they have a downside; they can be misused by scammers. This is also applicable in the case of Liquidspro. It is a standard practice of plenty of scam brokerages to offer these desktop apps to their clients. They ask you to share installation details with them, but this is just a ruse. When you share these details, they will be able to access all the data that you have on your PC.
This means that Liquidspro will be able to access all your sensitive and financial information, such as your bank account details and your passwords. Not only can they steal your identity, but also compromise your bank account and steal your money. This is the whole point of offering these apps and not for their clients’ convenience.
Given that Liquidspro is a blacklisted brokerage and does not offer you a good trading platform, or any such features that makes them trustworthy, you can see that it is not genuine and should be avoided.