Opinion about DineroLibre

Free money it is a platform for investing in CFDs online . If you want to know if it is trustworthy, we invite you to continue reading our review, where we will inform you about its security guarantees, licenses and everything that is good to know before depositing money in an online broker.

The website belongs to Baumann and Kraus Enterprises Ltd and allows you to trade a large number of currencies online taking advantage of the advantages of leverage. Although it is true that investing online is an excellent opportunity to earn money from home, it is also true that, precisely because of its attractiveness, there are many scammers who try to carry out their scams by posing as safe online brokers . Remember that no matter how good the offer or promotions they seem to have, working with an unsafe broker is never justifiable, since if you are not going to be able to withdraw your money normally, the benefits you get will be absolutely fictitious. Below we analyze this investment platform, so you can see what you can expect from it.

Our experience with DineroLibre

The web is designed and designed for investing and it is true that it is easy and intuitive to do so. As we will see later, the investment options seem sufficient for a particular investor and we have not detected illicit behavior. In addition, you can select different levels of leverage, to control your risk.

Therefore, we are dealing with an easy-to-use investment broker, which could be a good option for beginners, but it fails a little in the work of information about its own situation. With a company located in the Federation of Saint Kitts and Nevis, we would have liked to have more information about their security measures, for example, to avoid insolvencies, give fair treatment to customers, etc.

Free Money: Scam or legit?

The first thing we must say in this regard, is that in our opinion MoneroLibre is not a scam. Now, a particular investor usually wants to be able to gather information about the company through which he is investing, and in this sense this broker does not make things easy, since the information is not very accessible. So let's make your research a little easier by telling you what we know about them.

According to the terms and conditions, the company that manages the platform is Baumann and Kraus Enterprises Ltd, but the company that is in charge of the investment operation is B&K investment, so as you can see, it is not too clear who you are working with. For greater uncertainty, on the English website we can also see that the website is owned by Plan B Services Ltd. The change of ownership according to the language is not something strange, because many times brokers have to adapt to local laws and establish companies depending on compliance with them, depending on the audience to which they are addressed. But as we said, on the web it is not seen that there is an effort to clarify all this.

Free Money offer

Thanks to this broker you can invest in CFDs, however, it does not offer other popular investment tools such as binary options. The allowed leverage ranges from 1:50 to 1:300. Minimum stop loss of $50, $75, $100 or increments of $100 and minimum stop profit of $25 can be placed. Of course, you can trade both on the upside and on the downside. Trades must be a minimum of $25.

There are three types of accounts: The Broker Account is the most basic and has no requirements. The Signals Account requires a balance of $500 and 20 open trades throughout the month, and the Autotrading Account requires a balance of 1000 units and 50 open trades. The type of account influences some conditions for the user, which you can see in the Payment Methods section. In addition, logically the more advanced the account is, the more advantages and promotions are counted.

CFDs

Usually, CFDs are used to invest in currencies, but it is also possible to use them to invest in commodities, commodities, indices, stocks and cryptocurrencies. Let's take a look at them one by one.

Currency pairs are the ones that offer the greatest diversity. In total, you can trade with 33, which gives you a good ability to diversify and react to international events that may cause currencies to change their value significantly.

The available raw materials are much less, only gold, silver and oil. So commodity enthusiasts will miss other products such as copper, zinc, sugar, etc., which are available at the best brokers. Among the indices we find the QQQ and the Spy, which are really ETFs and not indices. Actions, you have at your disposal more than 25, all of them from well-known names. As is obvious, little amount to be able to carry out a real investment strategy.

Offers and bonuses

Currently DineroLibre does not offer any type of generalized welcome bonus, a fact that is in line with the guidelines of the most serious investment authorities. Therefore, if you want to enjoy a bonus, you must request it and the broker may grant it or not at its sole discretion.

Generally, bonuses are granted associated with a deposit, and in order to withdraw the money you must invest 30 times the bonus amount. However, if the bonus was 200% or more of the deposit, this number would increase up to 50 times.

As is usual with all brokers, until this trading volume condition is met, the bonus money cannot be withdrawn.

Another promotion is the so-called guaranteed operations. In them, the money that is obtained or recovered will be considered bonus money and, therefore, will also be linked to a trading volume condition of 30 times, if the promotion becomes effective.

As with the welcome bonus, it is the user himself who must actively request to participate in these promotions, something that we value very positively. In general, you can request to participate in the promotions, from the My Account section of the website.

Payment methods

The withdrawal policy of this company is one of the great weak points of it, since the practices are somewhat abusive.

With the basic account, called a Broker, the withdrawal commission is $25 and there is a 7-day waiting period. Although it is not optimal, so far it is acceptable, what is not, is that they require a minimum of 15 operations to be able to make the withdrawal and a minimum withdrawal of $ 100. That is to say that if you have a smaller amount, it is as if you had lost it. With the Signals account, the withdrawal commission is $20, the minimum to be withdrawn is kept at $100, but the minimum of operations is reduced to 10. Finally, with the Autotrading account, the commission is reduced to $ 10, the minimum to withdraw is $ 1 and the minimum of operations is 5 per month.

If for whatever reason, you decide to withdraw all the money and close the account, you will also have to pay a commission that amounts to $50 in the broker account, $150 in the Signals account and $500 in the Autotrading. The latter, a real madness and shows that the company will not let you go without taking a slice of your money.

The accepted method of deposit and withdrawal regardless of your location is bank transfer. Of course, the expenses are on your account.

Security and regulations at 24option

Although we previously stated that DineroLibre is not a scam, the truth is that its security leaves so much to be desired that we really believe that it should be avoided, even if it is not a scam.

First of all, the website presents three different company names and it is never clear which one you really operate with. The headquarters is located in Saint Kitts and Nevis, a beautiful place, but it does not provide us with anything in terms of security. Their investment regulations are unknown to us and even if they were strict, it would be so expensive to go to their courts that in practice they are useless.

On the other hand, we are not aware that the broker carries out practices to ensure the best execution of operations with respect to client orders, as well as it does not appear that it is part of any type of investor protection fund, so a suspension of payments on its part, would mean the irretrievable loss of our capital.

In addition, having to pay a large commission for closing the account, makes us think that it does not make much sense to put money here, since we would lose much of the profitability paying those $ 500 commission for closing.

Customer service

The customer service puts at your disposal telephones for Argentina, Colombia and Mexico. The truth is that it is more than expected, but make no mistake, agents tend to pressure customers to enter more money instead of giving them real solutions to their questions. It is also possible to get in touch with them through a contact form available on the website itself and, sometimes, they offer a live chat service.

Unlike other brokers, they do not have a help section, nor do they have an educational section to understand the operation of CFDs.

Functionality of the website

The website is functional and allows you to invest without problems. In fact it is one of the aspects that do work of this broker and so it seems to us a shame that they do not carry out somewhat more demanding transparency and good practices policies.

As far as the investment itself is concerned, the change of underlying assets, leverage, stops, etc., is all done through a tab system, which allows us to adapt the order to what we want with great speed and flexibility.

DineroLibre mobile application

We are not aware that the broker has developed any type of application for either Android or iOS. In addition, the website is not optimized for mobile phones and does not allow good navigation from the web browser of a normal cell phone.

If your intention is to trade from anywhere using the mobile, we do not believe that this investment platform, be the best option for you.

Conclusion: A review that does not leave us satisfied

DineroLibre could be a good broker for beginners with CFDs, because not having a very large offer is easy to control. But this simplicity is rather due to a set of very poor features in general, starting with the security guarantees.

Without a license, based in a tax haven and without clearly stating the company to which the website belongs, we believe that it is best for you to opt for any other broker that we suggest on our broker website. The withdrawal conditions are better, you will not have doubts about whether you will be able to get your money back and the investment offer is wider.