Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
6/10 · HighCySEC licence 164/12 matches libertex.com, but the offshore sites run through an unlicensed Saint Vincent company and a Mauritius licence, regulators in Québec, Indonesia and Ukraine named them, and CySEC sanctioned the EU firm in 2020 and 2021.
Identity & transparency
3/10 · LowAll companies are named and the 2 Cyprus companies match the registry, but the offshore set-up spans 4 companies and the group page cites FSCA and VFSC licences without naming the holders.
Withdrawals & conduct
4/10 · ModerateAbout 10 fund-related 1-star reviews of libertex.org since July 2025 (withdrawals held during checks, profits removed), spread over time, all answered, with no demand for a fee before withdrawal.
Reputation
4/10 · ModerateNet-positive Trustpilot scores (4.0 from 9,546 and 3.8 from 4,391 reviews), offset by regulator notices in 3 countries and past CySEC sanctions.
Website claims
5/10 · Moderatelibertex.com discloses its licence and an 84% client-loss rate, but libertex.org called itself a regulated broker while run by an unlicensed company and pushed 1:999 leverage and 100% deposit bonuses.
Operational history
2/10 · LowVerified history: fxclub.org registered in 2000, Holcomb Finance in 2006, Indication Investments in 2011, and the CySEC licence first granted in 2012.
Who they are
A quick desk file on the company behind the brand.
- Brand: Libertex, part of the Libertex Group, which grew out of the Forex Club group.
- Legal entity (Europe): Indication Investments Ltd, Cyprus company HE 290930, registered on 26 July 2011.
- Registered office: 82 Archiepiskopou Makariou III, 1st floor, Mesa Geitonia, 4003 Limassol, Cyprus. CySEC lists offices at 116 Gladstonos Street and 10 Agiou Athanasiou, both in Limassol.
- Licence (Europe): CySEC licence 164/12, first granted on 31 January 2012, covers dealing and order execution for 28 countries of the European Economic Area and for Switzerland.
- Germany: a representative office in Munich, listed in the BaFin database under BaFin ID 10161686. A representative office is not a separate German licence.
- Offshore companies: Forex Club International LLC (Saint Vincent and the Grenadines, 1277 LLC 2021) runs libertex.fxclub.org and ran libertex.org. Holcomb Finance Limited (Cyprus, HE 183254) takes card payments. Libertex International Company LLC owns the Libertex trademark.
- Offshore licence: MAEX Limited holds an investment dealer licence from the Financial Services Commission of Mauritius, first granted on 17 November 2020. A Mauritius licence carries no investor compensation scheme.
- Rebrand: outside Europe, the group is moving clients to a new brand, LBX (lbx.com), run by MAEX Limited. In 2026 the group told Colombian clients that their accounts would move to LBX before 1 July 2026.
- Websites: libertex.com and www.libertex.de for Europe, app.libertex.com and help.libertex.com for the client area and help, and libertex.fxclub.org for the offshore login. libertex.org now forwards visitors to libertex.com.
- Offers: CFDs (contracts for difference, which let you bet on a price move without owning the asset) on currencies, shares, indices, metals, energy and crypto. Trading runs on the Libertex platform, MetaTrader 4 and MetaTrader 5.
- Not accepted: the offshore sites exclude Russia, the USA, Japan, Brazil and the European Union. CySEC's country list for Indication Investments Ltd does not include the United Kingdom or the USA.
- Age claim: the group says it has operated since 1997, first as Forex Club. The oldest record we could check is fxclub.org, registered on 4 September 2000.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Cyprus Securities and Exchange Commission (CySEC)
BaFin (Federal Financial Supervisory Authority, Germany)
Found by our investigation (1) — the broker does not list these on its own site
Financial Services Commission, Mauritius (FSC)
Found by us — not listed by the broker
Why we reached this verdict
How the evidence adds up.
We rate Libertex high risk, not a scam, because the protection a client gets depends on which Libertex company opens the account.
- For clients in Europe, Indication Investments Ltd holds CySEC licence 164/12, and CySEC names libertex.com and libertex.de as the company's websites. The Cyprus company registry shows Indication Investments Ltd, number HE 290930, registered on 26 July 2011.
- Outside Europe, Forex Club International LLC, registered in Saint Vincent and the Grenadines, runs the offshore Libertex sites. The offshore site footers name no financial licence for Forex Club International LLC. MAEX Limited, the group's Mauritius company, has an offshore licence with no investor compensation scheme.
- Regulators have named the offshore sites. The AMF of Québec warned in April 2020 that Libertex International Company Limited (www.libertex.org) is not authorised to solicit Québec investors. Indonesia's futures regulator Bappebti blocked libertex.org in 2021, and Ukraine's securities regulator listed fxclub.org in 2022 and libertex.org in 2024.
- CySEC has acted against the EU company 2 times. In 2020 Indication Investments Ltd paid €160,000 to settle CySEC findings. The findings included leverage above the EU limits for retail clients; leverage is borrowed trading power that multiplies gains and losses. In August 2021 CySEC suspended part of the licence over marketing, then lifted the suspension on 23 August 2021.
- Earlier group companies also had trouble with regulators. In 2012 the US National Futures Association fined Forex Club LLC $300,000 over record-keeping and anti-money-laundering failures. The Bank of Russia cancelled the dealer licence of OOO Forex Club from 27 January 2019.
- Complaints show delays, not a pattern of theft. On Trustpilot, libertex.com scores 4.0 from 9,546 reviews and libertex.org scores 3.8 from 4,391 reviews. About 10 of the 1-star reviews of libertex.org since July 2025 say withdrawals were held during long account checks, or that profits were removed. The company replied to each of those reviews.
- We found no clone, no borrowed licence number and no demand for a fee before a withdrawal.
- The track record is real: fxclub.org dates from 2000, Holcomb Finance Limited from 2006 and Indication Investments Ltd from 2011.
- Our 41% figure comes from 6 risk scores out of 10. Regulation scores 6, identity 3, withdrawal complaints 4, reputation 4, website claims 5 and history 2. Regulation and identity have a weight of 2 in the average.
Evidence ledger
Every finding, with its source and how strongly it points.
E1CySEC's register lists Indication Investments Ltd under licence 164/12, licence date 31 January 2012, company number 290930, with libertex.com and www.libertex.de as approved domains and support@help.libertex.com as e-mail. The name, domain and contact details match libertex.com.
E2The libertex.com footer names Indication Investments Ltd, CySEC licence 164/12 and a BaFin-registered office in Germany, links to the CySEC entry, and warns that 84% of retail CFD accounts lose money with this provider.
E3The Cyprus company registry shows INDICATION INVESTMENTS LTD, HE 290930, a private company registered on 26 July 2011 and listed as registered, with its registered office at 82 Archiepiskopou Makariou III, Mesa Geitonia, Limassol.
E4BaFin's company database lists Indication Investments Limited, Repräsentanz Deutschland, a representative office at Maximilianstraße 2, Munich, BaFin-ID 10161686. The site's BaFin statement is accurate, but the entry is an office notification, not a German licence.
E5CySEC settled with Indication Investments Ltd for €160,000 on 29 May 2020 over possible breaches of authorisation and organisational rules and of the EU retail limits on leverage and margin close-out, found in a November 2018 inspection.
E6In early August 2021 CySEC partially suspended Indication Investments Ltd, banning new clients and advertising, over CFD marketing rules, organisational requirements, fair treatment of clients and misleading marketing.
E7CySEC recalled the partial suspension on 23 August 2021, after the firm removed giveaway posts and commission-discount adverts and tightened approval of its marketing.
E8The AMF of Québec published a warning on 26 April 2020: Libertex International Company Limited, website www.libertex.org, is not registered with the AMF and is not authorised to solicit investors in Québec.
E9A July 2021 report lists libertex.org among 109 sites that Indonesia's futures regulator Bappebti blocked in June 2021 for offering futures trading without a Bappebti licence.
E10Ukraine's NSSMC added Libertex (libertex.org) to its list of questionable investment projects on 19 April 2024, warning about firms whose activity is not regulated in Ukraine.
E11Ukraine's NSSMC added ForexClub Libertex (www.fxclub.org) to the same list of questionable investment projects on 19 September 2022.
E12An archived copy of the libertex.org home page from 17 October 2026 says Forex Club International LLC (Saint Vincent and the Grenadines, 1277 LLC 2021) operates the site and Holcomb Finance Limited takes card payments, and names no licence for either company. The page title calls Libertex a trusted, regulated broker and advertises leverage up to 1:999 and a 100% deposit bonus.
E13The libertex.org regulation page, archived on 1 May 2026, says group companies hold licences from South Africa's FSCA, the FSC of Mauritius and Vanuatu's VFSC, and that Forex Club International LLC and MAEX LIMITED operate libertex.org. The page names no holder or number for the FSCA and VFSC licences.
E14The FSC Mauritius public register, searched by the name MAEX, lists MAEX LIMITED as an Investment Dealer (Full Service Dealer excluding Underwriting), licensed on 17 November 2020, at Ground Floor, The Catalyst, Silicon Avenue, Ebène. This is the same address that lbx.com gives.
E15The App Store listing of the Libertex Trading App, published by MAEX LIMITED, says Forex Club International LLC and MAEX LIMITED (FSC licence C118023400) operate libertex.org and Holcomb Finance Limited handles card payments.
E16lbx.com says LBX is part of the Libertex Group and is operated by MAEX LIMITED. The site sends EU visitors to Indication Investments Ltd at libertex.com, and says its Colombian office may only promote products under SFC Resolution 1499 of 2025.
Weaklbx.com footerE17A February 2026 report says Libertex clients in Colombia would be moved to LBX, a Libertex Group brand, before 1 July 2026.
E18Trustpilot's page for libertex.com shows 9,546 reviews, a 4.0 score, 60% 5-star and 11% 1-star reviews, and replies to 84% of negative reviews.
ModerateTrustpilot (libertex.com)E19Trustpilot's page for libertex.org shows 4,391 reviews, a 3.8 score and 18% 1-star reviews. About 10 1-star reviews from July 2025 to October 2026 report withdrawals held during long account checks or balances removed, including about $7,000 taken to the Financial Commission as case 17784. The company replied to each.
ModerateTrustpilot (libertex.org)E20Registry records show fxclub.org registered on 4 September 2000, libertex.com on 30 August 2004 and libertex.org on 6 July 2016. Archived pages show a parked libertex.com in October 2012 and Libertex content there from April 2017.
E21The Cyprus company registry shows HOLCOMB FINANCE LIMITED, HE 183254, registered on 4 September 2006. The offshore sites name Holcomb Finance Limited as the company that takes card payments.
E22In October 2012 the US National Futures Association fined Forex Club LLC and its former CEO $300,000 over books and records, anti-money-laundering, trade reporting, promotional material and supervision failures. The firm had already given up US retail forex.
E23The Bank of Russia decided on 27 December 2018 to cancel the forex dealer licence of OOO Forex Club from 27 January 2019, for repeated breaches including inaccurate reporting and failure to follow a Bank of Russia order.
ModerateBank of Russia noticeE24libertex.fxclub.org, the offshore client login, says Forex Club International LLC (Saint Vincent and the Grenadines, 1277 LLC 2021) operates the login and Holcomb Finance Limited takes card payments. The page names no financial licence and excludes clients from the EU, the USA, Russia, Japan and Brazil.
Moderatelibertex.fxclub.org login pageE25Archived requests show libertex.org forwarding visitors to libertex.com from 17 October 2026.
E26Libertex's fraud warning page tells visitors that some people misuse the Libertex name and warns about an unauthorised caller linked to a brand called CCFD.
The other side
The strongest case in this broker’s favour.
The strongest case for Libertex is that its EU business is a real, long-running and supervised broker.
- CySEC supervises Indication Investments Ltd under licence 164/12 and names libertex.com and libertex.de as the company's approved websites. Under Cyprus law, every licensed Cyprus investment firm must belong to the Investor Compensation Fund. The Investor Compensation Fund can pay eligible retail clients up to €20,000 if a member firm fails.
- The brand has a large review base. About 10,500 of the reviews on Libertex's 2 Trustpilot pages give 4 or 5 stars, and the company replies to most negative reviews.
- The notices from Québec, Indonesia and Ukraine concern marketing without a local licence. None of the notices says that client money was taken.
- CySEC lifted the 2021 partial suspension after about 3 weeks. Before the suspension ended, the firm removed the promotions CySEC objected to and tightened its approval of adverts.
- The group is moving offshore clients to LBX, a brand run by MAEX Limited. MAEX Limited holds an investment dealer licence from the Financial Services Commission of Mauritius.
- Libertex publishes the names and registration numbers of its companies, and the 2 Cyprus companies match the Cyprus company registry.
- Libertex warns visitors about people who misuse its name, and we found no clone site using a Libertex licence number.
What would change this
What we would need to see to revise the verdict.
Clear new evidence in either direction would move the Libertex rating.
- The risk rating would fall if every client outside Europe were served by a licensed company. Each offshore site would also need to show the company's name and licence number.
- The risk rating would also fall if the offshore brand stopped marketing in countries where the brand holds no licence. A lower rating would also follow if the regulators in Québec, Indonesia and Ukraine removed their notices.
- The risk rating would rise if withdrawal complaints jumped within a few months, or if clients reported a demand for a fee before a withdrawal.
- The risk rating would also rise if CySEC took new action against Indication Investments Ltd, or if a regulator found that client money was misused.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
CySEC register: Indication Investments Ltd, licence 164/12
The Cyprus regulator's entry, listing libertex.com and libertex.de as approved websites.
Cyprus company registry: HE 290930
Company record of Indication Investments Ltd; open the result to see the registration date.
BaFin company database: Munich representative office
German office of the Cyprus company; not a separate licence.
FSC Mauritius public register
Type MAEX in the Name box to see the MAEX LIMITED investment dealer entry.
AMF Québec warning: Libertex International Company Limited
Québec warning about www.libertex.org, published on 26 April 2020.
NSSMC Ukraine: list update of 19 April 2024
Ukraine's securities regulator adds libertex.org to its list of questionable investment projects.
Trustpilot reviews: libertex.com
Client reviews of the EU site.
Trustpilot reviews: libertex.org
Client reviews of the offshore site.
Frequently asked questions
Quick answers about this broker’s safety.
Is Libertex a scam?
No. Libertex is a real broker brand with records going back to 2000, and its EU company, Indication Investments Ltd, is a registered Cyprus firm. We still rate Libertex high risk. Libertex's offshore sites take clients under weak or no licences, and regulators in Québec, Indonesia and Ukraine have named the offshore sites.
Is Libertex a fraud?
No regulator or court has made a fraud finding against Libertex or its companies, and we found no evidence of fraud. The regulator notices against libertex.org and fxclub.org say the offshore sites operated without a local licence. Some offshore clients report withdrawals held during account checks, but these reports are complaints, not findings.
Is Libertex regulated?
In Europe, Indication Investments Ltd holds licence 164/12 from CySEC, the Cyprus Securities and Exchange Commission. Outside Europe, Forex Club International LLC runs the offshore sites, and the site footers name no licence for Forex Club International LLC. MAEX Limited, the group's Mauritius company, has an offshore licence with no investor compensation scheme.
Which Libertex company will hold my money?
The answer depends on where you live. In the European Economic Area and Switzerland, the client contract is with Indication Investments Ltd in Cyprus. Elsewhere, the offshore sites name Forex Club International LLC in Saint Vincent and the Grenadines or MAEX Limited in Mauritius. Card payments on the offshore sites go through Holcomb Finance Limited in Cyprus.
Can I withdraw my money from Libertex?
Most Trustpilot reviews of Libertex are positive, and libertex.com scores 4.0 from 9,546 reviews. About 10 recent 1-star reviews of libertex.org say withdrawals were held for weeks or months during account or identity checks. Some of those reviews say profits were removed after a review. Test a small withdrawal before you deposit a large amount.
Is my money safe with Libertex?
EU clients of Indication Investments Ltd are covered by the Cyprus rules for licensed investment firms. The Cyprus rules require client money to be kept apart from the firm's own money. The Investor Compensation Fund can pay eligible retail clients up to €20,000 if a member firm fails. Clients of the offshore companies do not get the Cyprus protection. A Mauritius licence has no compensation scheme, and a Saint Vincent company registration is not a financial licence.
Who owns Libertex?
Libertex belongs to the Libertex Group, which grew out of the Forex Club group that the group says was founded in 1997. The EU company is Indication Investments Ltd in Limassol, Cyprus. The offshore companies are Forex Club International LLC and Libertex International Company LLC in Saint Vincent and the Grenadines, MAEX Limited in Mauritius and Holcomb Finance Limited in Cyprus.
How old is Libertex?
The group says it started in 1997 as Forex Club. The oldest record we could check is the fxclub.org domain, registered on 4 September 2000. Indication Investments Ltd was registered in Cyprus on 26 July 2011. CySEC first licensed Indication Investments Ltd on 31 January 2012.
Why did regulators warn about Libertex?
The warnings concern the offshore sites, not libertex.com. The AMF of Québec said in April 2020 that Libertex International Company Limited (www.libertex.org) is not authorised to solicit Québec investors. Indonesia's Bappebti blocked libertex.org in 2021, and Ukraine's securities regulator listed fxclub.org in 2022 and libertex.org in 2024 as questionable investment projects.
Has CySEC ever acted against Libertex?
Yes, 2 times. In May 2020 Indication Investments Ltd paid CySEC €160,000 to settle findings that included leverage (borrowed trading power) above the EU limits for retail clients. In August 2021 CySEC suspended part of the firm's licence over its marketing. CySEC lifted the suspension on 23 August 2021, after the firm removed giveaway promotions.
What is LBX, and is it the same as Libertex?
LBX is a newer brand of the Libertex Group for clients outside the EU. MAEX Limited, a Mauritius company, runs lbx.com. In 2026 the group told Colombian clients that their Libertex accounts would move to LBX before 1 July 2026. The CySEC licence of Indication Investments Ltd does not cover LBX accounts.
Is Libertex a clone, or are there fake Libertex sites?
We found no clone site using a Libertex licence number. CySEC names libertex.com and libertex.de as the approved websites of Indication Investments Ltd. Libertex's fraud warning page says some people misuse the Libertex name, and the page names 1 unauthorised caller linked to a brand called CCFD.
Does Libertex accept clients from the UK or the USA?
CySEC's list of countries for Indication Investments Ltd does not include the United Kingdom or the USA. The offshore Libertex sites also exclude the USA, together with Russia, Japan, Brazil and the European Union.
What should I check before depositing with Libertex?
Check which company the client agreement names, and look up the named company with its regulator. Check that the brand may serve your country, because 3 regulators have objected to the offshore Libertex sites. Test a small withdrawal first, and avoid high leverage and deposit bonuses until you understand the risks.
What can I do if Libertex will not pay out?
Complain to the company in writing and keep every message, receipt and ticket number. EU clients of Indication Investments Ltd can then take the case to the Financial Ombudsman of Cyprus. Offshore clients can file a case with the Financial Commission, a private dispute body that the group's sites name. Offshore clients can also report the problem to the financial regulator in their own country.
What we recommend
The practical takeaway from everything above.
Before you deposit, check which Libertex company will hold your money.
- If you live in the European Economic Area or Switzerland, open an account only at libertex.com. Check that the client agreement names Indication Investments Ltd.
- Look up Indication Investments Ltd on the CySEC website yourself before you deposit.
- If you live outside Europe, read the client agreement before you deposit. Find out which company the agreement names, such as Forex Club International LLC or MAEX Limited, and look up the named company with its regulator.
- Check whether the brand may serve your country. Regulators in Québec, Indonesia and Ukraine have objected to the offshore Libertex sites.
- Be careful with high leverage and deposit bonuses. At leverage of 1:999, a price move of about 0.1% against you can use up all of your margin. Margin is the money set aside to hold a trade. Read the bonus terms before you accept a bonus.
- Start with a small deposit and test a withdrawal before you add more money. Keep copies of every deposit, document request and support message.
- If a withdrawal is refused, complain to the company in writing first. EU clients can then go to the Financial Ombudsman of Cyprus. Offshore clients can file a case with the Financial Commission, a private dispute body that the group's sites name.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed November 11, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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