Beware! This is an offshore broker! Your investment may be at risk.
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
The Forex trading world is replete with crypto robots such as Libra Method. They are often made in the most absurd and their websites are quite self-serving. In most cases all they have to offer is a simple, low-budget narrated trailer-video which, ideally, should convince traders to invest with them. And the Libra Method does not differ from the pact. The video-trailer is done in quite a distasteful manner and, above all, is quite unclear as to what precisely the crypto robot offers, besides, of course, unlimited riches for the “new members”. From what we could gather, the crypto robot talks about an auto-trading software that could make anyone from $950 to $2200 a day and highlights the importance of social media when dealing with crypto trading. There are only small irrelevant pieces of information scattered through the website such as the mischievous statement that “there are only 36 spots left” which is a popular trope with scammers. In fact, whether there are any spots left make no difference. Here is a screenshot of the webpage:
As was said above – there appears to be some sort of auto-trading application which tracks information through social media and that needs only our initial deposit to begin filling our pockets with daily winnings.
No name, no address, no number
After doing our usual research we come across disturbing, but not unexpected, results. A search in the web did not yield any relevant results besides warnings of fraud. It turns out that Immediate edge is part of probably the most popular scam out there. Precisely through such websites, furnished with ludicrous statements about possible future winnings, traders are convinced to register and carelessly give away their address, phone number and email. Minutes later that same personal data is sent to brokers as “leads” and the registered traders begin getting phone calls from unregulated forex brokers like Capital4Bank or CCDFBank, urging them to invest. Cheap traffic is actually the product “Libra Method” and their “team of talented software designers” are offering, not some trading application ahead of the market that may incur riches to any willing trader. Usually, after registering with the crypto robot we get redirected to the website of some shady unregulated brokerage, however, with Libra Method we weren’t even able to register. Rest assured – the information presented on the registry form will be sent to different brokerages who’ll begin cold calling.
No verified track record
Even if we choose to believe Immediate edge about it’s new product – which we certainly do not advise – there are still problems. To put it bluntly – we have no assurance for results. In trading there are social trading platforms such as the Zulutrade where you may search through the profiles of different traders and see how much they are winning or losing before investing funds with them. This is done through tracking every deal they have made and even seeing the results of all the rest of their followers. Such transparency adds significant assurance and partially, if not fully, removes risk. Where as with half-baked and senseless websites such as Libra Method you are relying on blind faith.
No regulatory supervision
Furthermore, there is absolutely no regulatory guarantee about the whole product. The people behind the website do not fall under any regulatory oversight and their hands are untied to do pretty much as they wish. They also lack SSL encryption which compromises any information transferred through the website.
Last, but not least – the mere way in which such operations look for funds should raise major security concerns. If the crypto robot truly did offer an exciting and legitimate product, it would have found an alternative way of financing itself, instead of relying on cheap traffic through a cheesy bait-clicking commercial about itself. They could apply for a credit at the bank or raise money through crowd-funding. Although, in order to do that successfully, they have to be legitimate – which they most likely are not.
All in all, Libra Method comes across as a standard scam operation – the likes of which we have seen a lot – and we advise those interested not to risk it.