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Lig Broker Review | Is It a Scam or Not?

by Kevin Berry
Rating: 
  1/5   Reviews: 3
Lig Broker - logo

Welcome to our review of Lig Broker! If you’re considering investing in this company, we urge you to read on. We’ll be exploring the legitimacy of this broker and whether it’s a scam or not. So, let’s see what the evidence says.

Highlights

🏛️ Country UAE
⚠️ Regulation
🖥️ Website https://www.ligbroker.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $250
⚖️ Minimum and Maximum Leverage 1:500
⚙️ Trading Platform WebTrader
📨 E-mail support@ligborker.com
📞 Phone +971588282235

First Impression of Ligbroker.com

The official website of Lig Broker leaves a lot to be desired. It seems that they couldn’t be bothered to come up with a proper design. The fact that the platform only offers English and Arabic languages suggests that the broker is targeting a narrow audience. Among the negative aspects, there is a lack of important legal information and documents. Additionally, the broker boasts too much about its supposed excellence, which raises suspicions.

Lig Broker - website

Partnership and Bonuses

According to the FAQ section, Lig Broker offers bonuses up to 70% on deposits to all its clients. However, it is important to note that bonuses from brokers can be a double-edged sword, especially when they are so high. The reason is that often, such bonuses come with significant strings attached, such as high trading volume requirements or strict withdrawal conditions. This can end up being detrimental to the client’s trading experience and profitability.

Account Opening on Ligbroker.com

The registration process at Lig Broker is very standard. In fact, clients are only required to provide personal information and contact details. As with most fraudulent brokers, the email and phone number are not verified. Additionally, the registration process for this platform is clearly too easy.

Registration

The client area also looks simplistic. It features a short greeting and several basic functions such as:

  • Account funding and withdrawal.
  • Account settings.
  • A link to the trading platform.

Lig Broker - Client Portal

Verification

Lig Broker claims to follow the KYC policy. It means that clients need to complete the verification process to use the broker’s services. The verification process is relatively straightforward. You can upload your documents easily. Lig Broker asks for copies of passport or ID card, proof of address, and bank statement.

Pros
  • Easy uploading process.
Cons
  • There is no information available on how long it takes for documents to be verified.

Trading Software

The trading platform offered by Lig Broker is far from impressive, especially for professional traders. It lacks the necessary tools, indicators, and features that would make it a desirable choice for experienced clients. It is surprising that a broker that claims to be a leader in the industry would use such an unknown and anonymous trading platform. Besides, it is clear that Lig Broker has put minimal effort into providing its clients with a high-quality trading experience.

WebTrader

Features Lig Broker TradesWiser  Royalzysk
Demo Account
Mobile App
Own Development

How Can I Trade With Lig Broker?

When it comes to trading with Lig Broker, it’s important to keep in mind that despite all their grandiose claims, they offer a pretty standard CFD trading experience. Don’t expect anything exceptional from them.

All Info About Accounts

As for the accounts, unfortunately, there’s no demo account available. Instead, they offer three types of real accounts: Beginner, Classic, and Professional. The good news is that the more money you deposit, the better conditions you’ll get. The bad news is that it’s not good news at all because it means that Lig Broker is just like any other broker trying to squeeze as much money out of you as possible. And speaking of squeezing, they offer the massive leverage of up to 1:500 on all account types. It is definitely not something you want. It shows that this company doesn’t really care about your trading success and is more interested in taking your money. Moreover, their commissions are just ridiculous, with beginners having to pay a whopping 10% commission. It seems like Lig Broker’s greed knows no bounds!

Pros
  • Low minimum deposit.
Cons
  • High leverage.
  • High commissions.
  • Dubious additional services.

Market Analysis and Education With Ligbroker.com

Lig Broker offers education to all categories of clients, although it’s difficult to say what the quality of it is. Interestingly, the more comprehensive education is only available to Professional account holders. It seems funny as they are the ones who should already have a good understanding of the market. It’s worth noting that the entire team of the broker is anonymous, so it’s unclear who will be teaching the clients, and whether they have the necessary knowledge and skills to do so.

Deposit, Withdrawal, and Fees

Lig Broker offers several ways to deposit funds into your account, including credit cards, wire transfers, and online wallets. However, the only active option is to deposit using a bank card. For other methods, you will need to contact the broker in advance. Meanwhile, even if you think you can at least simply fund your account with a card, you are mistaken. Here, you will encounter such an error.

Payment system issues

Thus, in any case, you will have to contact a manager to make a deposit. This is a bad thing because it can create delays and inconvenience for traders who want to fund their accounts quickly and easily.

Features Lig Broker Clark Financial TradesWiser
Debit/Credit Cards ✔️️ ✔️ ✔️
Electronic Payments
Crypto Transfers
Deposit Fee ✔️️ ✔️
Withdrawal Fee ✔️ ✔️ ✔️️

How Can I Contact It?

You can contact support via phone number and email. The broker also provides an office address. However, we have checked and found no mention of the Lig Broker organization at the specified address on the maps.

Pros
  • There is a phone number and email.
Cons
  • The address is likely fake.

Is Lig Broker Dangerous?

It may not be obvious for novice traders, but all it took for us was to glance at a couple of pages on the website to come to an obvious conclusion. Lig Broker is a shameless scam, and we’ll prove it to you right now.

How Long Does The Broker Work?

How long do you think this company has been in the industry? A year, two, ten? Not even close. This company hasn’t even been operating for a month yet. You can easily check this yourself. Try to find any reviews about this project on the internet prior to March 2023. Okay, let’s not beat around the bush. We’ll just show you the results of our domain check. Note that the website was created on March 6, 2023. That’s the real duration of this scam’s operation. Less than a month. Do you still want to transfer your money here?

Domain info

How Is Lig Broker Regulated?

So, the contact section lists an office address in the United Arab Emirates. Based on this fact alone, you could assume that Lig Broker is an Arab company. However, it’s not that simple. First, no legal data is provided in open access. We don’t know the name of its managing company or where it is registered. However, the FAQ section states that Lig Broker is accredited by the Ministry of Commerce and the Securities and Exchange Commission. We are sorry for those who believed this.

These regulators do not allow retail investors to use leverage higher than 1:50. And that’s not all. CFD trading has been prohibited by the SEC since 2008, so it certainly does not license such companies. It seems that the creators of Lig Broker need to improve their knowledge of financial markets.

Features Lig Broker Overton Partners LTD  Tradercr
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With Lig Broker?

To trade with Lig Broker, you need to first register an account. After that, you will need to verify your identity. Once your account is verified, you can deposit and start trading.

Is Lig Broker Legit?

No, it is not. It is a fake company which lies about regulation and accreditation.

How Risky Is It?

Lig Broker is a scam. They have a fake address, claim to be regulated by entities that do not regulate CFD trading, and have no track record or reputation in the industry. If you invest with them, there is a high risk that you will lose your funds.
Kevin Berry
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Expert Opinion

As an expert in the field, I must say that the Lig Broker’s creators are certainly well-traveled individuals. Their reach extends far beyond the Arab Emirates, as they seem to have set their sights on a global scam operation. I mean, come on, it’s like they’re collecting countries like Pokémon, “Gotta catch ’em all!”

  • Clark Financial in Germany
  • Prosus-Pro in the Netherlands
  • Palmer Finance Company in Poland 

The list goes on and on. It’s almost impressive, if it wasn’t so morally bankrupt. Keep your guard up, traders, and don’t fall victim to their world domination plot.

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Lig Broker rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about Lig Broker

Nathaniel March 27, 2023 - 20:13
Another empty shell
The level of trust

I did some research on Lig Broker and found out that the company is not registered or regulated anywhere. This means that they are operating illegally and have no oversight.

Reply
Anna April 3, 2023 - 18:09
Yes, I agree, it is a fake broker
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I opened an account with Lig Broker and was promised high returns on my investment. However, after a few trades, I noticed that something was not right. The prices were not accurate, and my orders were not executed properly. When I tried to withdraw my funds, I was met with endless delays.

Reply
Louis April 5, 2023 - 12:36
*amn thing
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I was tricked by Lig Broker into depositing a large amount of money. As soon as I wanted to withdraw my funds, they started stalling and making excuses. After three days of trying to get my money back, I realized that it is a scam and the people behind it are fraudsters.

Reply

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