Established in 1997, Libertex is an online Forex and CFD broker regulated by CySEC and FSC. The online broker is a multinational brand that was one of the first retail forex brokers in the online brokerage industry and claims to have 2.2M clients worldwide and a staff of 700 employees.
The online broker provides CFD trading services in multiple markets and products including forex, stocks, cryptocurrencies, commodities, ETFs, and indices.
Libertex is part of the Forex Club Group, which is based in Limassol, Cyprus.
Libertex is a Cyprus-headquartered forex and contracts for difference (CFDs) broker brand. It was established in 1997.
The broker operates globally with its license from Cyprus, South Africa, and Belarus. Its offerings include forex, indices, commodities, cryptocurrencies, and stocks CFDs.
Libertex holds licenses 3 regulatory licenses.
The broker is regulated in Cyprus, South Africa, Belarus. Being operational for more than two decades, the broker also has a good reputation in the market.
The full list of Libertex licenses is below:
1. Cyprus Securities and Exchange Commission (CySEC)
2. Financial Sector Conduct Authority (FSCA)
3. National Bank of the Republic of Belarus (NBRB)
4. St.Vincent & the Grenadines
Libertex Pros & Cons
Libertex is a universal platform for trading markets with an intuitive and flexible interface, making your trading experience motivating and profitable
Libertex is certainly the trading platform worth a try if you’re looking for something that offers all the basic features and even more extras. This broker is still in great demand among millions of traders.
- Strictly regulated
- No deposit fees
- E-wallet withdrawals within 24 hours
- Limited account types
- Poor educational materials
With its headquarters in the CFD friendly hub of Cyprus Libertex has received its licensing and regulation from the Cyprus Securities and Exchange Commission (CySEC). This has helped the broker spread even more as it provides clients with protections and more importantly the peace of mind knowing that someone is overseeing the broker and their operations.
The CySEC license, number 164/12, provides further proof of the credibility of this broker with over 2 decades of online service. Regulation means the broker adheres to all the rules and laws put in place to protect CFD traders, such as the segregation of funds. In fact, there are two key safety measures that clients can appreciate:
Use of separate bank accounts that keep the firm’s operational funds and the clients’ fund different.
Covered by the investor compensation fund that will compensate clients to a set amount upon liquidation of assets or failure to remit clients’ funds.
Further sign of the quality of the broker is exhibited by all the awards won over the years, and by the positive comments found online from current and past clients.
Signing up or opening a new Libertex account is easy. It only takes a few minutes, and the user can sign up by simply using an email address. The process also required additional personal details such as residence address and a national ID number.
Based on this, Libertex runs an online verification of user identity. By complying with the international anti-money laundering rules, Libertex brokers make sure that all users are authentic. Here, a copy of your passport and driver’s license is uploaded. After setting up the account, new Libertex users must add €100 as a minimum deposit to start trading.
The broker platform also accepts these deposits in a variety of payment methods, from bank transfers and credit cards to debit cards and electronic payment gateways. After that, users can start trading all the assets supported on Libertex.
Libertex Trading Platform
In today’s age, every trader looks forward to the trading platforms a company is offering. So, it makes sense to stay up to date with technological advancements.
Libertex, therefore, provides a robust trading platform that you can access from any web browser.
You don’t need to download and install any setup file. All you need is an internet connection. Of course, there is also a mobile app version which we will discuss later.
Now, let us discuss some of the preliminary features the platform is offering:
- The first thing that you will notice is the smooth navigation and clean UI design. All the necessary elements to process an order or to watch over a particular asset are just a mouse click away.
- The platform is heavily inspired by the MT4 trading platform, which many believe to be the best in the market. It is an honest effort to make those professional traders feel comfortable while trading. As a matter of fact, if any trader wishes to use MT4 as their primary platform, Libertex’s proprietary platform allows that to happen as well. Sadly, the integration is only with MT4; no support for MT5 as of now.
- As a proprietary trading platform, the security level is top-notch. As good as MT4, MT5, or other popular trading platforms are, they are all 3rd-party applications. So, you need to share your information with another company as well. Now, while such is not the case with Libertex, chances are you are more secure.
When it comes to online trading features, Libertex has an abundant supply. Let us take a look at some of the notable ones:
- You can choose from 8 volatility indicators, 13 oscillators, 43 indicators, 9 timeframes, and 22 trend indicators.
- For every instrument, you can get live quotes by using the Order Management feature available in the trading platform.
- You can customize your favorite list any time you wish to.
- If you want to keep track of the market trend minutely, there is a Live Trades section, where you will get all the trading activities of other traders.
Libertex Account Types
Libertex fails to provide details about its account types, but I like that Libertex treats all traders equally. Each one gets the same account type and trading conditions, and there is no upgrade for more substantial deposits. With a minimum deposit of only $10, Libertex ensures all traders have access and flexibility.
Libertex Demo Account
Traders may open a demo account directly from the MT4/MT5 trading platforms, and I did not find a time limit or other restrictions.
Libertex offers a demo account to all of its clients. This allows you to practice your trading skills and learn more about the Libertex platform before depositing real funds into it. The account comes with a virtual balance of €50,000 to trade with.
The demo account is helpful since it helps new users decide whether the platform is right for them. Clients that register for a demo account also register for a genuine account (although they will be unable to access the real account without first making a deposit).
Demo accounts are available on the web and through mobile apps. On the Libertex website/app, switching between demo and real mode is simple, which allows users to take advantage of quickly shifting market situations.
- Research & Education
Libertex’s unique trading platform incorporates in-house analytics. They consist of a recommendation under the asset with no details, and they are one of the reasons the CySEC suspended Libertex’s license after the regulator concluded it wasn’t acting in good faith.
- Professional Charting
Libertex’s traders have access to detailed charting for each asset. There is also the option to view the chart in full-screen mode, which allows for a thorough analysis. There are several free indicators and sketching tools available with this broker. In most cases, chart analysis is the most crucial tool for making profitable trades.
One of the best charting systems for traders is being used by Libertex. Tradingview.com provided the inspiration for this design. On this platform, almost every indicator and tool is available. All of the tools can be adapted to the chart or trading strategy on their own. You can choose from various chart displays and time units for the analysis depending on the technique.
Beginner traders receive a three-hour trading course divided into easy-to-understand lessons. Other than that, Libertex lacks a lot of important educational material.
Libertex Commission and fee
Libertex is known for having zero spreads on all trading instruments and accounts. In a Zero Spread, there is no difference between the bid and ask price. Zero Spread accounts have predetermined entry and exit levels which users must agree to when opening the accounts.
Libertex makes money from a small commission from each $1,000 invested that varies between assets and multiplies with leverage. Other fees charged by Libertex include.
- Libertex Inactivity Fees
All inactive accounts with a balance of $10,000 pay a fee of $5 per month. In addition, withdrawals from inactive accounts attract an additional 2% of the total amount withdrawn on top of the regular withdrawal fee.
- A user’s account may be declared inactive if it goes for a period of time dictated by the broker with buying or selling. The inactivity fee is not unique to the cryptocurrency industries as it is also applied by some players in the mainstream financial system. The inactivity fee also differs depending on the type of account.
- Trading fee
Also called transaction fees, trading fees are paid on every trade or transaction completed. Brokers charge trading fees for facilitating buying and selling of financial assets through the trading account.
Trading fees differ depending on the type of cryptocurrency being traded, the type of trading, and the level of trading account. Brokers also charge a fee when they complete an order, modify, and cancel an order on behalf of the client.
While Libertex offers an industry-low minimum deposit of USD/EUR 10, the company does charge a withdrawal fee, unlike many other brokers in the industry, while the maximum amount which clients can withdraw is $ 5000.
As noted above, the Professional account requires a minimum financial portfolio value of €500,000, which includes financial instruments and funds.
Deposits can be made through the following operators:
Credit/debit card,Skrill Wallet, Sofort,SEPA/International bank wire,Neteller ,Giropay,Trustly ,iDeal ,Multibanco ,Rapid Transfer
Withdrawals can be made through the following operators:
- Credit/debit card
- Skrill Wallet
- SEPA/International bank wire
What is required to obtain a Libertex Professional account?
To access a Professional account from Libertex you’ll need to meet two of the three following conditions:
You’ve performed an average of at least 10 transactions of significant size per quarter over the past four measuring periods.
You have relevant accreditation and experience in a professional setting in the financial sector. The position must require in-depth knowledge of related transactions and services.
You have a financial instrument portfolio exceeding 500,000 EUR (including cash savings and financial assets). You won’t be required to deposit this amount.
I have a Retail account but can’t figure out how to open a cryptocurrency trade with 1:30 leverage. What gives?
The maximum amount of leverage available to Retail accountholders is 1:30, but this applies to forex pairs only. A per-instrument leverage maximum also applies, and for crypto it’s 1:2 for Retail account holders.
Does no spread mean that there aren’t any fees on trades?
No. Spreads are replaced by a fixed percentage commission on every $1,000 traded, and this amount is multiplied by the leverage used on the trade.
Are there withdrawal fees on Libertex?
There are no withdrawal fees, unless the trader has been inactive for at least 180 days, at which point their withdrawal is subject to a 2.00% charge.
What’s the longest time I’ll wait before my deposit or withdrawal goes through?
Libertex offers a similar account, asset, platform, conditions, and payment options, just like other trading firms. However, not all these companies can last 22 years, just like Libertex.
At the same time, the local and international awards it gained through the years proved that the company was exceptional. Its efforts to develop its trading platform is commendable. Also, it only suggests that the company is looking forward to providing its clients with the best service it can give.
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