Livaxxen review

Introduction

Livaxxen is a forex broker platform that boasts of its exceptional customer care, advanced trading services, and transparent trading experience. Managed by Investim Capital Ltd., Livaxxen was launched in March 2024. The platform aims to create a community where growth is limitless, and traders can thrive in the dynamic world of finance.

The Livaxxen forex broker platform offers clients access to a decent range of markets, enabling them to seize opportunities across various asset classes. Traders can invest in an extensive selection of international stocks, including popular options like Amazon (AMZN), Tesla (TSLA), Microsoft (MSFT), and many others. The platform allows users to tailor their stock trading strategies to their preferences while benefiting from low trading commissions.

As an international broker, Livaxxen provides access to various currencies, stocks, indices, and commodities. Headquartered in New Zealand, the forex broker firm has a user-friendly interface, diverse tradable assets, and offers competitive spreads for traders.

This comprehensive Livaxxen forex broker review will cover all aspects of its operations to help potential clients understand the features and benefits of this brokerage firm.

Supported Countries

Livaxxen aims to serve clients from many countries worldwide, reflecting its global vision. Clients are accepted from Aland Islands, Algeria, Aruba, Australia, New Zealand, Papua New Guinea, Fiji, Solomon Islands, Brazil, Argentina, Chile, Colombia, Peru, Egypt, Nigeria, South Africa, Kenya, Morocco, India, Japan, South Korea, Mexico, Jamaica, Bahamas, Belize, Bolivia, Costa Rica, Curacao, Dominica, Dominican Republic, Ecuador, El Salvador, French Guiana, Grenada, Guatemala, Guyana, Honduras, Rwanda, Sao Tome and Principe, Senegal, Marshall Islands, Northern Mariana Islands, Puerto Rico, Haiti, Saint Martin, Saint Vincent and the Grenadines, Anguilla, Turks and Caicos, Seychelles, Kazakhstan, Kuwait, Kyrgyzstan, Macau, Malaysia, Maldives, Mongolia, Myanmar, Nepal, Oman, Bouvet Island, British Indian Ocean Territory, Christmas Island, Cocos (Keeling) Islands, Cook Islands, Djibouti, Equatorial Guinea, Eritrea, Gabon, Gambia, Ghana, Guinea, Tokelau, Vanuatu, Wallis and Futuna Islands, Bhutan, Laos, Madagascar, Azerbaijan, Serbia, Botswana, Tajikistan, Malawi, Burkina Faso, Turkey, Saudi Arabia, Indonesia, Vietnam, Thailand, Pakistan, Israel, Singapore, Qatar, UAE, Venezuela, Bangladesh, Philippines, Norway, Switzerland, Jordan, Tanzania, Uzbekistan, Sri Lanka, Uruguay, Panama.

However, there are notable restrictions. The broker does not accept clients from countries under comprehensive OFAC sanctions, including Afghanistan, the Balkans, Belarus, Burma, Cuba, Ethiopia, Iran, Nicaragua, North Korea, Russia, Somalia, Sudan, South Sudan, Syria, parts of Ukraine, and Venezuela. Additionally, Livaxxen does not accept clients from the United States. 

Customer Service Rating

Livaxxen is a relatively new brokerage firm, and while online reviews are still limited, the broker is listed on Trustpilot with an average score of 4.5 out of 5 based on 266 reviews. Some reviewers on other platforms claim to have been trading on Livaxxen for over a year or eight months, which is inaccurate since the platform launched in March 2024.

On TradersUnion, Livaxxen has a rating of 5.71 out of 10, though customer reviews are limited, with only five available so far. However, this rating is expected to evolve as the broker gains more traction and collects additional feedback from users.

Livaxxen Forex Trading Platforms

Livaxxen offers proprietary trading platforms for web, desktop, and mobile devices, providing access to various markets and asset classes, including cryptocurrencies. However, Livaxxen does not support the popular MT4 and MT5 trading platforms, which are considered industry standards.

The three platforms, Livaxxen Web, Livaxxen Desktop, and Livaxxen Mobile are designed to cater to different trading styles. 

• Livaxxen Desktop: The Livaxxen Desktop platform caters to traders seeking a flexible and reliable trading environment. It features real-time pricing and leverage options, allowing traders to respond quickly to market changes. The platform offers institutional-grade features, top-notch security, and swift execution. One-click trading is available for those who prioritize speed. With dozens of instruments and versatile chart setup options, traders can customize their experience and make well-informed decisions using comprehensive analysis tools.
• Livaxxen Web: Livaxxen’s web platform is intuitive and user-friendly, designed for practicality and user satisfaction. It includes advanced features that are easily accessible, providing a seamless trading experience. The platform integrates institutional-grade features and high-level security, earning recognition as a leader in trading technology.
• Livaxxen Mobile: The Livaxxen Mobile Trader offers maximum flexibility with a sleek, modern interface. It provides a wide range of functionalities, including market monitoring, trading, and portfolio management, all accessible from mobile devices. This platform is ideal for traders on the go and is available on Android, macOS, and Linux.

Trading Denominations on Livaxxen

Traders on Livaxxen can denominate their accounts in USD and EUR. This means traders who use other currencies must go through a conversion process, adding an extra step to their trading activities, which many find unattractive.

This limitation puts Livaxxen at a disadvantage compared to other brokers that offer accounts in multiple currencies, making them more appealing to clients from diverse countries.

Company Structure

Livaxxen is operated by Investim Capital LTD, registered under business number HA00224741. The company is headquartered at 171 Featherston Street, Wellington 6011, New Zealand. Livaxxen offers a decent number of tradable assets, leverage up to 1:400, with low spreads. Clients benefit from modern trading platforms, 24-hour support, research resources, and analytical tools, catering to both novice and professional traders.

The broker’s low spreads and commissions help traders save on transactions. Built on reliability and user-friendliness, Livaxxen aims to provide quality customer support, advanced trading services, and a transparent experience in the dynamic trading and investing landscape.

Livaxxen employs an STP orders execution model with instant execution speed. Despite being a relatively new platform, it is unclear if Livaxxen has offices in other countries. The broker has not yet received any awards or recognitions, which may affect potential clients’ perceptions. However, Livaxxen has stated its commitment to offering tailored services and optimal trading conditions to help clients tap into global markets and expand their opportunities.

Livaxxen Licenses and Regulatory Compliance

Livaxxen is operated by Investim Capital LTD, regulated under M.I.S.A. with business registration number HA00224741 and license number BFX2024039. This regulation ensures Livaxxen operates within international best financial practices under M.I.S.A. ‘s supervision.

However, Livaxxen lacks tier-one regulation, known for its higher standards and stricter oversight. 

Livaxxen Customer Protection

Livaxxen, a regulated forex broker, adheres to the rules set by its regulatory agency. The broker offers segregated accounts to ensure that company and client funds are kept separate, protecting clients’ funds in case of a broker crisis. Livaxxen also uses SSL certificates to secure communications between its servers and clients and implements a 2FA policy to enhance account security.

The broker’s Privacy Policy is accessible under the Legal tab, and a Risk Warning is provided to inform traders about the potential for loss when trading. Despite these protective measures, it is unclear whether Livaxxen offers negative balance protection. Additionally, the broker is not a member of any Compensation Fund scheme. These gaps might be a drawback for clients who require such safeguards.

Customer Service

Livaxxen offers multiple ways for clients to contact their support team. Customers can reach Livaxxen via email at [email protected], by phone at +6498011909, or through live chat. The broker’s website also features an FAQ page that addresses common questions.

Email support typically responds within the same business day, and the support team operates 24/5. However, support is only available in English and French, which may be a drawback for clients who speak other languages.

Trading Information

Livaxxen’s trading hours vary based on the asset and market location. For example, the Eurex Germany market operates from 03:10 to 00:00, while the Moscow Exchange is open from 10:50 to 19:39. Livaxxen’s trading hours run from Monday to Friday. The broker’s website provides a detailed Trading Hours page that outlines trading sessions for global markets, adjusted for different time zones.

Livaxxen offers competitive spreads that vary according to market conditions and the specific instrument. Forex spreads can start from 0.1 pips on major pairs, typically ranging from 2 pips. Commodity spreads are between 0.25 to 3 pips, indices range from 0.5 to 3 pips, and stock CFDs from 0.2 pips. The minimum spread available is 0.0 pips. Both the margin call level and stop-out level are set at 23.7%, depending on the customer’s status. The maximum position size is up to 500 lots, with a minimum of 0.01 lots. Traders can place up to 200 orders simultaneously.

Livaxxen does not offer managed forex accounts, social trading, OCO orders, autotrading, or cashback rebates. Additionally, the broker does not provide a VPS server. However, Livaxxen features a comprehensive Contract Expiries database that lists the expiration dates of futures and options contracts, aiding traders in planning and strategy.

Regarding fees, Livaxxen lacks transparency. The broker’s website does not disclose specific fees, including inactivity fees, only stating that inactive accounts will incur monthly charges until the balance is zero. The exact charge is not specified. Livaxxen also has a Chargeback Policy, reserving the right to charge a fee for any chargebacks, though the amount is not disclosed. The broker does charge overnight fees, aligning with standard industry practices.

Tradable Instruments

Livaxxen offers clients access to a variety of tradable assets, including Forex pairs, commodities, metals, cryptocurrencies, CFDs, shares, indexes, futures, and options.

Forex: Livaxxen provides over 60 currency pairs, encompassing major, minor, and exotic pairs:

• Majors: EUR/USD, GBP/USD, USD/JPY
• Minors: EUR/GBP, AUD/CAD
• Exotics: USD/TRY, EUR/ZAR

Commodities: More than 20 instruments are available, including:

• Metals: Gold, Silver, Platinum, Palladium
• Energy: Oil (WTI, Brent), natural gas
• Agricultural commodities: Coffee, sugar, wheat, corn

Indices: Livaxxen offers over 15 global stock indices:

• US: S&P 500, Dow Jones, NASDAQ
• Europe: FTSE 100, DAX, CAC 40
• Asia: Nikkei 225, Hang Seng, ASX 200

Stocks: Access to over 1,000 stocks from leading companies worldwide:

• US: Apple, Google, Amazon, Tesla, Microsoft
• Europe: Volkswagen, SAP, HSBC, BP
• Asia: Toyota, Samsung, Alibaba, Sony

While Livaxxen provides a decent range of tradable assets, it may not be the best platform for those looking to extensively diversify their trading portfolio. Some other platforms offer thousands of tradable assets across multiple instruments.

Livaxxen Leverage

Livaxxen provides clients with leverage up to 1:400 that seems to cut across all account types. This high leverage can greatly amplify potential profits but also increases the risk of significant losses.

Deposits and Withdrawals

Deposits

Livaxxen offers reliable deposit and withdrawal methods with the benefit of no deposit fees. Clients can fund their trading accounts using various payment systems, including Debit/Credit cards, Bank transfers, PayPal, Skrill, Cryptocurrencies, Neteller, Revolut, Wise, and Webmoney. The minimum deposit required is $500.

In case of third-party deposits, Livaxxen has stated that it may request documents to verify the third party, such as proof of identity and other necessary documentation. Bank transfers may take between one to seven business days to process.

In compliance with Anti-Money Laundering laws, Livaxxen may ask clients for documentation to confirm the source of funds deposited. The broker also states that it has the right to reject deposits if not satisfied with the legality of the funds’ source. Finally, deposit limits can vary and may be adjusted periodically by the forex broker.

Withdrawals

For withdrawals, Livaxxen offers the same methods as for deposits. Clients can initiate withdrawal requests through their trading platform using any available options. Livaxxen charges a fixed fee of $10 for bank wire withdrawals below $100. For international bank wire transfers, the minimum withdrawal amount is $50, while SEPA transfers require a minimum of $5, after fees.

Withdrawal requests are processed on the same day or the next working day if submitted outside regular trading hours. For cryptocurrency withdrawals, proof of payment is required. If funds cannot be sent to the same wallet, clients have to provide proof of account for an exchange wallet.

Just as with depositing funds, Livaxxen states that it reserves the right to decline a withdrawal method and suggest an alternative. This means clients will have to reissue a withdrawal request using the new suggested method. Additional documentation may be requested if the provided information is insufficient. Clients should also be aware of third-party charges by payment providers and currency conversion fees, which can affect the final amount received.

Livaxxen Trading Education and Training

Despite Livaxxen’s claim of being beginner-friendly, the broker falls short in providing comprehensive educational resources for its clients. There is no dedicated education section on its website. However, Livaxxen does offer some useful trading research tools:

• Contract Expiries: Livaxxen has a detailed Contract Expiries database that lists the expiration dates of futures and options contracts. This tool is particularly helpful for traders who use various financial instruments, as it helps with trade planning and strategy by tracking when positions need to be closed or rolled over to avoid market swings caused by expiry events.
• Trading Hours: The Trading Hours page on Livaxxen’s website outlines the trading sessions for markets worldwide, adjusted for different time zones. This is beneficial for traders who operate in multiple international markets, providing clear guidance on the most active trading hours.
• Economic Calendar: Livaxxen’s Economic Calendar is a comprehensive tool listing key economic events and data expected to impact financial markets. It helps traders stay ahead of market-moving events such as GDP releases, employment figures, and central bank decisions, giving them the foresight to manage trades effectively in a volatile market.
• Live Charts: The Live Charts page offers real-time charting capabilities, allowing traders to track and analyze market movements as they happen. These charts include various technical indicators and graphical tools, essential for conducting thorough technical analysis. They help traders identify trends, support and resistance levels, and make informed trading decisions based on current market dynamics.

While these tools are valuable, the lack of extensive educational resources means that beginners might struggle to get started in the financial markets.