Read our full Libertex review below.
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, Indicies, Agriculture, Oil and gas, and ETFs.
The broker also offers a variety of trading platforms to its traders, including the Libertex and MetaTrader 4 platforms.
Libertex broker has been in business since 1997. This is an international brand with over 20 years of investing and financial experience. Customers of this brand come from over 110 different countries. Customers of all different skill levels have gotten comfortable using this site.
Libertex has won 30 awards internationally for the customer support they offer. They have also won awards for the innovative technology that is used. They offer some newer trading methods such as cryptocurrencies.
With over 30 years of experience, Libertex can be trusted by those looking for a financial platform. This company is a market making broker and they will help a person with the trades. They will charge a commission 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 200 assets to select from. This is a great choice for someone that is looking to make diversified investments. It is recommended to spread investments over different areas in case there is a problem in one specific genre.
The Libertex platform is easy to use. There are 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 16 languages making it great for people all over the world. This makes it available to the masses and will allow them to access customer support if they have a question or a concern.
The site operates with nine timeframes. They range in duration from a minute to a month. There are 43 indicators for offer. They include 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 favorites 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
- Authorized and regulated
- Easy to use
- There is a leverage of 1:30 for retail users and 1:600 for the professional clients
- There is a discount of up to 50 percent on commission
- There are no spreads
- It is easy to make an order
- There is a lot 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 200 trading instruments
- Good customer service
- Over 20 years of experience
- There is no support for Meta Trader 4 and Meta Trader 5
- There is not a lot in the education sections
- There are charges for some of the withdrawal and deposits methods
- There are only 213 financial instruments
- There are fees for inactive accounts, withdrawals, and transactions
- There is a low leverage of 1:30 for retail customers
- There is only one type of account for investors and traders
- There is no ECB or STP models
- There have been negative user reviews posted on the internet
forex.com Broker Review
Libertex has 213 instruments for trading. They include Forex, socks, commodities including metals and energy, indices, ETFs, and cryptocurrencies. The company has few financial instruments compared to other brokers that are on the market. Libertex has some useful instruments depending on where a person lives.
There are more than 50 stocks that have high validity. There are Blue Chips for the United States market and they are popular stocks in Europe and Latin America.
Trading cryptocurrencies including Bitcoins are offered. The fee has been reduced by 50 percent.
The thing that people like about Libertex is that it is easy to trade. There are many currencies to work with and you can trade anything from current stocks to agriculture. This is one of the major sites.
Metals are popular to trade, and they are increasing in value. Gold, silver, and Brent crude can go on the market and you can begin to trade them for only $10.
This will allow you to trade in the European, American, and Asian economic communities and their stocks. There are many investments to select from.
These commodities are some of the newest on the market. They are a modern trading platform, and they are gaining in popularity.
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 and it will make 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.
While this platform does not use MT 4 or MT 5 there is a platform used with the experience of the user in mind. This will allow the trader to customize a platform to meet their needs. There are some integrated services for help. There is a Metatrader 4 platform if a user likes this feature.
Those that want to trade on Forex will like this platform. There are plenty of tools for risk management. There are instant withdrawals. 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 bitcoins
- Gas and oil
You will like Libertex if you would like:
- To manage your capital quickly
- Easy technology
- To have access to over 200 instruments with no spreads
- This is the most popular tool for professional traders in the world.
- There are over 43 currencies and 100 different trading tools
- There is no dealer involvement in the treaded
- There are trading robots and important indicators.
- The trading position can be managed even during closing
- Quotes are uploaded and different time intervals
- There can be trading done simultaneously from different accounts
If you have not traded Forex, then you should complete the training first. It is quick and simple. You can download a training terminal and create a free demo account. It is free to use.
Libertex offers live accounts and demo accounts. There is no option to choose on the account type, but it will be based on the deposit. There are Islamic swap free accounts.
There are professional accounts that have financial profile requirements of over 500,000. You also need to have financial experience and have good trading activity for the past year. There are real accounts and a demo. There are not many different account types.
With a little more research there are professional accounts that have a leverage of 1:600 and they are for those that have a lot of trading experience. The real account has different status levels based on the amount of money that is deposited into the account. The levels include:
Gold Status – Traders can deposit 250 in their accounts. They will have a 3 percent discount on the commission rate.
Gold Plus status – The initial deposit is 1,450 and there is a 4 percent discount on commission.
Platinum Status – The deposit needs to be 1,500 and there is a 20 percent commission discount. There are also priority withdrawals.
VIP Status – The trader will deposit 5,000 and can receive a 30 percent discount on commission. They receive priority withdrawals and receive exceptional customer support.
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.
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 money. 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, use 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. There are some popular currencies at a rate of 0.008 %. On the cryptocurrencies, the commission can vary from 0.47 to 2.5 percent.
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 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 1:30. This is standard in Europe and it is regulated.
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.
Maximum leverage for each asset class:
- 30:1 for currency pairs
- 20: for minor currency such as gold
- 10:1 for commodities other than gold
- 5:1 for individual equities and other references
- 2:1 for cryptocurrencies
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. There is a method for everyone.
All deposits are secure. They can be made online using a Visa or Mastercard. 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.
Deposits can be made with
- Credit and debit cards
- International bank wire
- Rapid transfer
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.
Withdrawals can be made with different operators including:
- A credit or debit card
- An international bank wires
The platform can be accessed online or in the app 24 hours a day, 7 days a week. It is also running 365 days a year.
It is possible to trade any time of the day or night. Be aware that most markers do close. While you can log in whenever you feel like if you may want to log in when the markets are open.
For example, we are going to look at the forex market. The New York Forex market is open from 9 am to 5 pm. The London forex market is open between 3 am and midday.
The Tokyo market opens from 7 am until 4 pm. There is always the chance to trade but the times may be restricted from the market hours.
Contact and Customer Support
Libertex has customer support in 11 languages. There is no live chat feature. In most cases, the customer support team will reply to you within an hour.
- Email: email@example.com
- Phone: +35722 025100
- Facebook: facebook.com/libertex
- Twitter: twitter.com/libertex_europe
SAFETY AND SECURITY
Libertex is registered an authorized for trading by the Cyprus Securities and Exchange Commission.
This 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.
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.
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.
This site does not have an economic calendar or analytical tools to help track the market.
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 course has 29 lessons on the website and the home page.
There is an article that covers Forex and all the information for the stocks. This includes descriptions, indexes, and information on how to use Forex for trading.
Libertex has 30 international awards as of the current time. They include:
- Best trading app in 2018
- The best cryptocurrency broker award 2018
There are many incentives for uses including bonuses and promotions. New clients will get a bonus of 100 percent match on their first deposit. New client needs to deposit at least 100 in their accounts.
A person only needs to deposit 10 to open their account. An only account with 100 and over will get the welcome bonus. The maximum bonus amount is 10,000. In addition to this when a client moves up a status level, they can get bonuses.
Some of the bonuses will have users turning over their takes a few times before activation.
SAFE OR SCAM?
When looking at Libertex they put the safety of their brokers 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 is there to regulate the trading company. There are many standards they are required to meet and required capital. They need to take funds to protect their customers and make sure the trades are safe.
The regulation body CySEC is authorized 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 knowing Libertex is in compliance with all of the regulation companies. They will offer safe trading and will protect the information of their customers.
As one of the top brokers in the world Libertex has a lot to offer potential traders. There are services for those that are new to trading and those with professional trading experience. The commission levels are appealing and there is a lot of information to help the clients.
Libertex does not have as many educational tools as other sites. It does lead to access to other information so traders can still find out about the current happenings in the market. Libertex has over 20 years of experience in the field. They offer many trades even with limited trading instruments.
The company offers Meta Trader 4 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 awards and they are also one of the best in cryptocurrencies. There are other tools that are limited on the market and other brokers offer more options. Libertex is regulated by the CySEC and they are regulated to ensure that all the safety measures for trading work for their clients.
The company has a trading cost that is based on market conditions instead of spreads. They use a specific percentage and there are no additional charges to be calculated at the time.
This site is helpful to new and professional traders. The calculations are easy to understand. They will also make the company open and honest about the fees charged.
When looking at the limited educational material and tools for research this is something to keep in mind. There are also limited technological innervations that are found on this site.
Overall Libertex is a good choice for traders and those that want to explore the world of trading cryptocurrencies. This is a good choice, and the trading instruments are there to help with this.