LiveBit is an unlicensed Crypto CFD Broker, that opened in March 2021. The website no longer works. They are probably operated by the same people as FairBit. There are just way too many similarities to think they are a different company.
Contact phone number in United Kingdom is: +442038857649. Customer support email address is: [email protected]. Official website was at: https://www.live-bit.com/, and then moved to https://www.livebit-pro.com/.
For withdrawal problems and complaints read this.
LiveBit Brokers Review
While reviewing this new broker LiveBit, we see that they are only offering traders Crypto CFD’s underlying assets for trading. Unlike other brokers which offer the a full range of products to trade, like Forex, Metals and Oil, Live-Bit is only offering Crypto.
The trading app you see on their website is called PandaTS, and it is a web-based app, without any mobile apps. Another broker offering this app alongside MT5 is Moneta Markets.
As a new Crypto trader, you should learn the difference between trading and investing. Investors utilizing a CFD (Contracts for Difference) broker, are only day trading and looking to profit from the underlying assets price movement. You do not actually own the underlying asset or crypto currency.
LiveBit makes no mention on their website of different account types, however the minimum deposit is $250, like all “Get Rich Quick” brokers. Either way, you will receive plenty of phone calls from their salesmen asking you to make a larger investment.
Look here, to see what a licensed broker offers!
Algorithm Trading App
Newbie investors usually get hooked into investing via a trading app like the News Spy. The problem with trading apps is, that most of them don’t make money, and you lose your investment fast.
Take a few minutes and educate yourself on the pitfalls of using an automated trading app, read this.
Is LiveBit a Legit Broker?
No, LiveBit is not a licensed CFD broker, and does not have any Government regulator oversight or license. Crypto CFD brokers in Australia must be licensed and regulated by ASIC, and brokers in United Kingdom are not allowed to offer Crypto CFDs.
Companies that offer investing or day trading on Crypto Currencies, Shares or Forex is considered an investment service, which means they are required to have a license from your governments regulator. The difference between a licensed broker and an unlicensed broker is; who will insure your money when the broker goes out of business? Read more.
LiveBit is officially owned and operated by; Maximo Ventures Ltd, and located at: Beachmont Business Centre 143, Kingstown, Saint Vincent and the Grenadines, Registration Number 26011BC2020. Their domain is registered to Frixty s.r.o. (Reg Num 07753454) Czech Republic.
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Current investors at LiveBit are asked to leave their personal review, in the comment section below.