Libertex Review |
|
| 📅 Year founded |
1997 |
| 📈 Multiple top-tier regulation |
Yes |
| 📍 Headquarters |
Limassol, Cyprus |
| 🌍 Country of regulation |
Cyprus / Mauritius / Saint Vincent and the Grenadines |
| ✅ Regulators |
CySEC / FSC |
| 📈 Execution Type |
Market Execution |
| 💰 Minimum Deposit |
$10 USD |
| 🛡️ Negative Balance Protection |
Yes |
| 📉 Trading Platforms |
MetaTrader4 / MetaTrader5 / Libertex |
| ☪ Islamic account |
Yes |
| 📉 Trading Instruments |
Stock CFDs / Cryptocurrencies / Forex / Metals / Indices / Agriculture / Oil and Gas / ETFs / Bonds |
| 📱 Mobile trading |
iOS / Android |
| 💳 Payment Types Accepted |
Credit and Debit Cards / Bank Transfer / Neteller / Skrill |
| 🎮 Demo Account |
Yes |
| ⓒ Copy Trading |
Yes |
| 🎁 Bonus Offer |
100% Welcome Bonus / Loyalty Programme |
| 💰 Account Currencies |
USD |
| 📈 Minimum Trade |
$10 risked per trade |
| 📈 Account Types |
PAMM / MAM |
| 📈 Margin Trading |
Yes |
| 📈 Trading fees |
Low |
| 📈 Inactivity fee |
After 6 months of inactivity |
| 💰 Withdrawal fee |
No |
| ☎ Customer Support |
Via email. Responses usually take 1 business day. |
| 💰 Max. Leverage |
999:1 |
| ✔️ Hedging Allowed |
Yes |
| ✔️ Scalping Allowed |
Yes |
| 💰 Commission |
$3 USD per lot |
| 💰 Spreads |
From 0.0 pips |
| 💰 Leverage |
999:1 |
| 💰 Currency Pairs (Total Forex pairs) |
50 + |
| 🔢 Number of clients |
3 000 000 + |
| 🥇 Instruments Offered |
300 + |
| 📙 Education |
Video Courses / Market Overviews |
WHAT IS LIBERTEX?
Found in 1997, Libertex is a respectable forex and CFD brokerage firm with its headquarters located in Limassol, Cyprus. This online broker is regulated by CySEC.
At Libertex, clients can trade a range of trading instruments, such as stocks, cryptocurrencies, forex, metals, indices, agriculture, ETFs, bonds, oil and gas.
The broker also offers a variety of trading platforms to its traders, including the Libertex and MetaTrader4 and 5 platforms.
INTRODUCTION
Libertex has been in business since 1997. This is an international brand with over 26 years of investing and financial experience. Customers of this brand come from over 120 different countries. Customers of all different skill levels have gotten comfortable using this site.
Libertex has won over 40 prestigious awards internationally. They have also won awards for the innovative technology that is used.
With over 26 years of experience, Libertex can be trusted by those looking for a financial platform. This company is a market making broker and they will assist their clients with trades. They will charge a low commission fee instead of spreads. Many feel this is fair and helps them save money on the trading cost.
This company is a fully regulated broker operating online. The company is still strong, and they can be relied upon. There are over 300 assets to select from. This is a great choice for someone that is looking to make diversified investments. It is recommended to clients to spread investments over different areas in order to diversify their portfolios.
The Libertex platform is easy to use with many great features such as charts, timeframes and other things that can allow a person to learn about the conditions of the market. This site is available in over 16 languages making it great for people all over the world. This makes it available to the masses and will allow clients to access customer support if they have a question or a concern.
There are 43 indicators on offer, including 22 trend indicators, 13 oscillators and 8 volatility indicators. There is an order management feature that will allow a user to see live quotes.
A user can even make a favourites list that will include the assets they want to use for trade and to follow. This information is useful when making trades. Users can see their history, their balance and any pending orders they may have.
There is a section for live trades and current information can be found on Libertex. This is good for those that are watching the market or looking for specific information.
PROS & CONS
PROS
- Authorised and regulated.
- Easy to use.
- Spreads are low, with fixed commissions.
- It is easy to place orders.
- There is an abundance of technical analysis information.
- It is easy to go from a demo version to a real account.
- Withdrawals are fast.
- There are recommendations for trades.
- The site has live quotes.
- There are over 300 trading instruments.
- Good customer service.
- Over 26 years of experience.
CONS
- There is no support for MetaTrader4 and MetaTrader5.
- There are not a great deal of tools available in the education section.
- There are charges for some of the withdrawal and deposits methods.
- There are fees for inactive accounts, charged after 6 months.
TRADING INSTRUMENTS
Libertex has over 300 instruments available for trading. They include forex, stocks, commodities including metals and energy, indices, ETFs and cryptocurrencies. The company has fewer financial instruments compared to other brokers that are on the market. Libertex has some useful instruments depending on where a person lives.
Stocks
There are over 50 stocks available to traders.
Cryptocurrencies
Various cryptocurrencies are also available to traders and include well known cryptocurrencies such as Bitcoin, Ethereum and XRP to name a few.
Forex
The thing that people like about Libertex is that it is easy to trade. There are many currencies to work with including major, minor and exotic pairs. There are over 50 pairs on offer.
Metals
Metals are popular to trade, and they are increasing in value. Gold and silver are available and you can begin to trade them for only $10 USD.
Indices
This will allow you to trade in the European, American and Asian economic communities and their stocks. There are many investments to select from.
Agriculture
These CFDs offer low volatility and predictability, making these assets great for longer term investing with highly profitable returns.
TRADING PLATFORMS
Libertex uses a unique trading platform. All the information is web based so there is nothing to download. The platform will work in many different web browsers making trading easy.
The platform is fast so it can be used by day traders. This is a user-friendly trading platform and it will allow customers to have an edge over the market.
Libertex Platform
Those that want to trade in the forex market will like this platform. There are plenty of tools for risk management as well as instant withdrawals being available. There is also a free demo account to try that comes with 50 000 Euros.
Investments in a simple application:
- Can get shares of leading companies such as Apple, Microsoft and Facebook.
- Indices such as Dow Jones and DAX.
- Metals including gold and silver.
- Currencies including cryptocurrencies such as Bitcoin.
- Gas and oil.
You will like the Libertex platform if you like:
- To manage your capital quickly.
- Easy technology.
- Having access to over 300 instruments with no spreads.
MetaTrader4 and 5
- This is the most popular tool for professional traders in the world.
- There are over 50 currencies and 300 different trading tools.
- There is no dealer involvement in the trade execution.
- There are trading robots and important indicators.
- The trading position can be managed even during market close.
ACCOUNT TYPES
Libertex offers two account types, namely the Portfolio Account and the CFD Account. For purposes of this review, we will be discussing the CFD account:
- High volatility.
- All trading instruments mentioned above, over 300 available.
- Leverage of up to 999:1.
- Pending orders may be set.
- Demo accounts available.
- Swap-free accounts available.
HOW TO OPEN AN ACCOUNT
If you want to trade, you can open a live account if you are at least 18 or the legal age in your country.
When signing up for the account:
- Fill out the email and create a password.
- You can register at https://app.libertex.com/#modal_register.
- You can also use your Facebook information to sign up for an account.
- Answer the questions on the trading platform.
- Make a deposit and upload the required identification documents. They include a photo ID and proof of residence.
- Upload the required documents by this trading platform. These documents are needed for account verification. The account will be verified within three business days.
DEMO ACCOUNT
Libertex will allow users to have a demo account. They can practice trading without depositing real funds. The demo account will include 50 000 in virtual currency. It can be traded online and on mobile apps.
This will allow users to test out the platform and see if they like it. During the signup, the user can also sign up for a real account. It is easy to switch between the demo mode and the real account. This can be done within the app and on the website.
COMMISSIONS & FEES
There is only a commission charged on the trades. There is no charge on the spread. The commission fee will vary from trade to trade. On forex pairs, Libertex charges a fee of $3 USD per lot.
The commission on the stocks will be between 0.1 and 0.2 percent. The terms and the conditions should be read to check the commissions and make sure there is no hidden cost. This platform is free to join and there is no monthly fee. Deposits and withdrawals are also free.
LEVERAGE
Leverage is the ratio between the volume of the trade and the total investment with a multiplier and a margin account. Leverage will depend on the trade. The maximum leverage rate is up to 999:1.
Professional holders may be able to get a lower leverage rate. To get an account a user needs to prove they had a significant trading history within the past year. They also need to be able to verify their experience.
Effects on Libertex accounts:
When you trade these assets, the price will depend on the trading class you are part of. If you have higher leverage, you will need less margin. You can make bigger trades for less. If the leverage is low, you are going to need to provide your own funds.
WITHDRAWALS AND DEPOSITS
Libertex allows a user to add funds to their accounts in several different ways mentioned in the table above. There is a method available to everyone.
Deposits
All deposits are secure. They can be made online using a Visa or Mastercard as well as bank transfers or selected e-wallets. There are prepaid cards that will be accepted too. The cardholder’s name and the account on Libertex need to match. A secured code may be needed for extra protection. You may also need to enter a PIN and create a password for your payment to be processed.
Withdrawals
If you made a deposit by a check or debit card, then you will need the same card to make a withdrawal. When using a bank wire, you will need to add your banking information.
CUSTOMER SERVICE
Libertex is well known for its superior customer service with the platform available to be accessed online or in the app 24 hours a day, 7 days a week. It is also running 365 days a year.
Contact and Customer Support
Libertex has customer support in over 16 languages. Unfortunately, there is no live chat feature. In most cases, the customer support team will reply to you within an hour, although they do state that they may require up to 1 business day to respond.
Contact information:
Email: help@libertex.com
Facebook: facebook.com/libertex
SAFETY AND SECURITY
Libertex is registered and authorised for trading by the Cyprus Securities and Exchange Commission (CySec) as well as the FSC in Mauritius.
The CySec is a government authority that provides audits of companies to make sure they are providing fair trading and other financial services. Since the company has a license from the CySEC, they can be trusted.
Libertex has client fund segregation which will allow the firm to have the client protected if they face financial issues. Traders will still have their funds and they will be safe under the legislation. In addition to this safety measure Libertex contributes to the Investor Compensation fund which will help protect trader investments of up to $20 000 USD.
In addition to that protection, Libertex uses 128-bit secure socket layer encryption to make sure that all the user data is safe and cannot be compromised. Both Android and iOS system apps are regulated to make sure they are safe.
RESEARCH
There are many research tools, but they are limited compared to some other sites. The education tool has a news desk that will allow traders to have access to all the latest market news.
EDUCATION
There are educational material offers including a course for those new to trading. There are also webinars and a demo account that can help new traders get familiar with the platform and online trading.
The broker has 10 in-depth lessons available as pre-uploaded videos on the website.
Unfortunately, Libertex does offer a fairly basic Education on trading compared to most other brokers in the industry.
PROMOTIONS
There are many incentives for uses including bonuses and promotions. New clients will get a bonus of up to 100% to match their first deposit. New clients need to deposit at least $10 USD in their accounts.
It should be noted that only accounts with over $100 USD will get the welcome bonus. The maximum bonus amount is $10 000 USD. In addition to this, when a client moves up a status level, they can be legible for further bonuses.
GLOBAL AWARDS
Libertex has won over 40 prestigious international awards over its years of service, some of which include:
- Best Trading Experience (2023) – Ultimate Fintech Awards.
- Best CFD Broker (2023) – World Finance Forex Awards.
- Most Trusted Broker LATAM (2022) – Ultimate Fintech Awards.
- Best Trading Platform (2022) – FX Report Awards.
- Best FX Broker (2021) – EuropeanCED Awards.
SAFE OR SCAM?
When looking at Libertex, they put the safety of their clients first and take measures to help protect the investment of their clients. They are part of the Indication Investment Company which was established in Cyprus. This firm is regulated by the Cyprus Securities and Exchange Commission.
This Commission exists to regulate trading companies / brokers. There are many standards they are required to meet including required capital targets. They need to take funds to protect their customers and make sure the trades are safe.
The regulation body CySEC is authorised in the EU to supervise and watch the financial markets and the investment firms. They need to make sure all the firms are complying, and they need to make sure they can work within the European Economic Area.
Traders can rest easy knowing Libertex is in compliance with the relevant regulation entities. They will offer safe trading conditions and will protect the information of their customers.
CONCLUSION
As one of the top brokers in the world, Libertex has a lot to offer to potential traders. There are services for those that are new to trading and those with professional trading experience. The commission fees and low spreads are especially appealing to potential traders.
Libertex does not have as many educational tools as other sites, and have a fairly limited number of trading instruments available to clients.
The company offers MetaTrader4 and 5 trading platforms. While their offerings are limited, they have their own in-house platform which is just as good as the platforms that are offered by the competition.
The company has won many international awards, and they are also considered one of the best brokers in cryptocurrencies.
This site is helpful to new and professional traders while their calculations are easy to understand. This in turn ensures that Libertex is one of the most transparent and reliable brokers out there.
Overall Libertex is a good choice for traders, especially those that trade mostly in cryptocurrencies. While the lack of educational material and available trading instruments is a negative, Libertex makes up for that with very competitive spreads and a trustworthy reputation.
