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Libertex Review

Libertex Review

 

 

 

 

Overall Rating

4.7/5

Rated #251 of
Recommended FX Brokers

💰Minimum Deposit

$10

🌐 Regulators

CySec, FSCA

📱 Trading Desk

MT4, MT5, Libertex Web platform

Crypto

Yes

📈 Total Pairs

70 crypto-pairs

49 forex pairs (usdzar as well)

5 metals

26 Indices

130 stocks

6 oil and gas

6 agriculture assets

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

 

Libertex is founded in Russia in 1997 and today has globally located offices in Cyprus, Russia, and Belarus. As such, the company expanded rapidly after its founding, and through its global operations, the broker serves clients in more than 110 countries.

Finding a reputable Libertex review local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth review of Libertex to help you make an informed decision before opening your account or trading on their platform.

According to research, Libertex is an online broker which operates as a brand under the brokerage division of Indication Investments Ltd, which is part of the Forex Club Group based in Russia.

Forex brokers are firms that provide traders with access to a platform that allows them to buy and sell foreign currencies.

Transactions in this market are always between a pair of two different currencies, so forex traders either buy or sell the particular pair they want to trade. Forex brokers may also be referred to as retail forex brokers, or currency trading brokers.

Most forex broker firms handle only a very small portion of the volume of the overall foreign exchange market.

Retail currency traders use these brokers to gain access to the 24-hour currency market for purposes of speculation. Forex broker services are also provided for institutional clients by larger firms such as investment banks.

The company works to differentiate itself through a client-centric approach, providing leading, reliable, and high-speed technology coupled with a wide selection of tradable assets.

The company was established based on a Market Maker model and therefore does not offer an ECN/STO connection. As an online broker, clients are offered access to the trading of currency pairs, stocks, metals, indices, and commodities.

 

Libertex at a Glance

Broker’s Name Libertex
Headquartered Limassol, Cyprus
Year Founded 1997
Regulating Authorities Cyprus Securities and Exchange Commission (CySEC)
Countries not accepted for trade United States, Australia, New Zealand, South Africa, Russian Federation, Japan, Canada, Brazil.
Islamic Account (Swap Free) Yes
Demo Account Yes
Institutional Accounts No
Managed Accounts No
Maximum Leverage 1:30; 1:1000 for professionals
Minimum Deposit 10 USD
Deposit Options Credit/debit card

Skrill eWallet

Sofort

SEPA/International bank wire

Neteller

Giropay

Trustly

iDeal

Multibanco

Rapid Transfer

 

Withdrawal Options Credit/debit card

Skrill eWallet

SEPA/International bank wire

Neteller

 

Platform Types MetaTrader4

MetaTrader5

Libertex Platform

OS Compatibility Desktop (Windows)

Mobile Android, iOS, Linux, macOS

Tradable Assets Precious metals, CFDs and Forex, agriculture, oil and gas, ETFs
Customer Support Languages English, German, French, Dutch, Spanish, Italian, Polish, Portuguese
Customer Service Hours 24 hours per day, five days per week

 

Awards and Recognition

When deciding which Forex broker to choose, many potential traders take into consideration the awards which a particular broker may have garnered during their years in operation.

As such, these awards are an indication of the broker’s overall level of performance, features and platforms at which they excel, and their general standing within the industry.

Not all brokers participate in awards, and therefore this aspect should be taken into consideration with the overall broker offering.

Libertex has won over 30 international awards to date, the most recent of which include:

  • Best Trading App, Forex Awards (2017, 2018)
  • The Best Crypto-Currencies Broker, Forex Awards ( 2017, 2018)

 

Libertex Accounts

A  Forex account is used to hold and trade foreign currencies. Gaining access to the forex market through a broker involves opening an account, depositing money in your denominated currency, and trading currencies.

Though it seems simple enough, picking the right account is one of the most important aspects in deciding on the right broker, as the account type can have a direct impact on profit and loss.

Typically, the Forex market abounds with a diverse range of traders, including beginners, intermediate-level traders, seasoned pros, and institutions, so that there are many types of accounts on offer.

As such, the most important aspects to keep in mind when deciding on an account which works for you are the transaction cost, spreads and commissions, trading routing, trading software and platforms, and the range of markets available.

 

 

Types of Accounts and its Features

Libertex provides one universal live trading account and a Professional account. The company also provides a free demo account that allows new clients to become better acquainted with its features before signing up for a live account.

The live trading account is commission-free but does not provide the option to select an account size depending on the trading strategy, so that clients cannot adjust their minimum deposit, select spread types, etc. Libertex offers an Islamic (swap-free) account.

The Professional account is based on the provision of a financial portfolio to the value of €500,000, extensive and relevant financial sector experience, and proven trading activity for a period of no less than 12 months.

 

Overall Rating

4.7/5

Rated #251 of
Recommended FX Brokers

💰Minimum Deposit

$10

🌐 Regulators

CySec, FSCA

📱 Trading Desk

MT4, MT5, Libertex Web platform

Crypto

Yes

📈 Total Pairs

70 crypto-pairs

49 forex pairs (usdzar as well)

5 metals

26 Indices

130 stocks

6 oil and gas

6 agriculture assets

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Deposits and Withdrwals

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 eWallet
  • Sofort
  • SEPA/International bank wire
  • Neteller
  • Giropay
  • Trustly
  • iDeal
  • Multibanco
  • Rapid Transfer

 

Withdrawals can be made through the following operators:

  • Credit/debit card
  • Skrill eWallet
  • SEPA/International bank wire
  • Neteller

 

Cost and Fees, Commissions and Spreads

The cost of trading is the overall expense that a forex trader incurs in order to run their trading business.

For every trade placed, the trader will have to pay a certain amount in costs or commissions. These costs vary from broker to broker, but they are usually a relatively low amount and are often the only cost of trading which a trader is likely to incur.

The most common costs associated with trading are the spread and commission fees charged by the broker for each trade placed. These costs are incurred by the trader regardless of how successful those trades are.

The spread is the difference between the bid and sell price of a currency pair, and what the broker charges, and is fundamentally how brokers make a profit.

For a trader to make a profit or avoid making a loss on a trade, the price must move enough to make up for the cost of the spread.

A commission is similar to the spread in that it is charged to the trader on every trade placed. The trade must then attain profit in order to cover the cost of the commission.

Traders should also keep in mind potential hidden fees that some brokers might charge, which include inactivity fees, monthly or quarterly minimums, and margin costs.

Libertex’s commission structure consists of zero spread trading, with additional commissions such as inactivity fees, withdrawal fees, and transaction fees, making this a less competitive offering than many other brokers in the industry.

The company excels in terms of its spreads, offering a zero spread model for all CFD products, meaning clients can trade with no gap between the bid and ask price.

However, potential traders should weigh this added benefit against the company’s transaction fees, which can stack up over a period and become quite expensive.

 

Leverage

Leverage is essentially capital that a trader borrows from a broker to increase potential returns. The Forex leverage size usually exceeds the invested capital by several times.

Different brokers offer different leverage levels, which are usually determined by the trading conditions provided by a particular broker.

Regional jurisdiction also comes into play, as the EEA recently decided to cap the level of leverage that brokers operating in the economic area could offer, due to the high risk typically associated with this mechanism.

Ultimately, deciding which leverage level to choose depends on the individual trading strategy and the actual vision of upcoming market moves. To this end, quick traders will usually use high leverage to make a fast profit, while positional traders prefer a low leverage level.

Libertex is regulated by the Cyprus Securities and Exchange Commission (CySEC), which is an EU-compliant regulatory body with restrictions set by the European MiFID, as well as the FSCA.

Regulatory bodies within the European Economic Area (EEA) recently made the decision to cap the maximum leverage which brokers could offer within the region, due to the high risk attached to the mechanism.

Under these protective measures, Libertex is regulated to offer a leverage ratio of 1:30 for its Standard account and leverage of 1:1000 for those who are eligible for the Professional account.

On the standard account, the maximum leverage level is set to 1:30 for major currencies, 1:20 for minor currencies, and 1:5 for Cryptocurrencies.

 

Bonuses

Many Forex brokers offer various bonuses as an incentive for new traders to sign up with them.

Usually, the Forex bonuses are an exclusive or seasonal special offer. In general, Forex bonus types are also known by the name of a promotion.

Bonuses that are known as rebates are credited to the trader’s account once they have completed a trade, while regular bonuses may require traders to carry out quite a number of trades first.

Libertex offers a sign-up bonus for all new clients, which is awarded on opening an account and making the first deposit.

The minimum deposit amount to receive the Welcome bonus is $100. The maximum bonus amount is $10,000.

You get back 10% of all trading commissions paid in the form of the bonus converted into real money.

Libertex pays the converted bonus to your trading account in 2% payment chunks. You should undertake sufficient trading to convert the whole bonus within 90 days.

Traders should take note of these conditions before signing up with Libertex on the basis of the bonus alone.

 

Trading Platforms, Software, and its Features

A trading platform is in essence the software supported by a particular broker to execute trades on the Forex market. Deciding on the right platform is also an important aspect of selecting a suitable broker.

This may be an online, web-based portal, mobile app, a standalone downloadable program, or any combination of the three. The platform may also provide tools for research in addition to tools for order processing.

Some Forex brokers offer their own custom trading platforms for order processing and research, but many provide order access through integrated trading and research programs.

Libertex offers two types of trading platforms, consisting of the ever-popular MetaTrader4, and the company’s own proprietary Libertex platform.

Though this is a more limited selection than many other brokers offer, the platforms still provide an enhanced trading experience, as described in more detail below.

 

Libertex Platform

Libertex’s proprietary platform is designed to be easily accessible and user-friendly and is best suited for beginner to intermediate traders seeking an easily navigable software selection.

While the trading features are limited compared to that of MetaTrader, many beginner traders will find it a satisfactory selection, and the platform also includes a news feed and a useful top menu of various markets, popular, top rising, and falling instruments on the day.

 

MetaTrader4

Libertex offers the MT4 platform as a mobile application on the Apple Store and Google Play.

MT4 is one of the most popular trading platforms in the industry due to its remarkable suite of charting tools and high-speed execution.

As such, it offers leading trading features including economic news, Expert Advisor, trading signals, advanced technical indicators, and an extensive selection of plugins, and is suitable for a range of trading styles and strategies.

 

MetaTrader5

Libertex offers the MT5 platform as a mobile application on the Apple Store and Google Play.

MT5 is one of the most popular trading platforms in the industry due to its remarkable suite of charting tools and high-speed execution.

As such, it offers leading trading features including economic news, Expert Advisor, trading signals, advanced technical indicators, and an extensive selection of plugins, and is suitable for a range of trading styles and strategies.

 

Markets, Products, and Instruments

Most brokers offer all or some of the following kinds of market instruments for trading:

 

Forex

Forex trading, also called currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

 

Commodities

As with currency exchange markets, commodity markets offer different investment opportunities for traders. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of inflation or economic uncertainty.

 

Indices

Equity or stock indices are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific set of the largest companies of a nation or they can represent a specific stock market.

 

Precious metals

The trading of gold and other precious metals involves hard commodities that are contract-based tradable goods.

 

Energy

The high volatility of energy prices due to political and environmental factors, supply and demand, extreme weather conditions, and global economic growth is a typical feature of this product, making it another popular trading choice.

 

Libertex provides access to 213 tradable instruments across the following asset classes:

  • Wide assets line to trade
  • Forex pairs – Major, minor, crosses, exotics, 49 forex pairs (usdzar as well)
  • Stocks (130 shares) – Medical cannabis, automobile industries, consumer good, consumer services, healthcare, finance, energy, industrials, luxury, telecommunications, technologies, materials, and potential trading assets.
  • Metals – Gold, silver, palladium, platinum, and copper
  • Indices – 26 Global indices from different regions across the globe: North America, Europe, Asia, the Middle East, and South America.
  • Cryptocurrencies – A selection of 70 crypto pairs including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.
  • Agriculture – 6 Agriculture assets including corn, wheat, soybean, coffee, sugar, and cocoa.
  • Oil and gas – 6 Oil and gas including Brent crude oil, light sweet crude oil, natural gas, WTI crude oil, and heating oil.
  • Exchange-Traded Funds (ETFs) – A selection of 10 ETFs

 

While this selection is relatively limited compared to many other brokers in the industry, it is still a decent enough range to attract most traders.

 

 

Safety and Regulation

The Forex market is one of the biggest financial markets in the industry so that navigating this enormous ocean of potential profit requires a proper level of broker compliance in order to mitigate any unnecessary risks or losses.

A secure trading environment is best delivered through brokers who are authorized by reputable regulatory bodies, which ensure that client funds are protected and subject brokers to regular audits for guaranteed transparency.

Libertex operates as a brand of Indication Investment Ltd, a Cyprus established Investment Firm, which is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) and is also regulated by the FSCA.

CySEC is a reputable and recognized regulator, which requires numerous operational standards, substantial capital maintenance to prove liability, and customer protection procedures under the compliance of the Investor Compensation Fund.

CySEC is an EU authority that supervises regional financial markets and investment services firms, as well as their compliance and reliability, before enabling them to provide services within the EEA (European Economic Area).

 

Customer Support

Reliable customer support is another important aspect of choosing the correct broker, as a lack of decent customer support can leave pressing issues unresolved and affect a client’s trade.

Technical support is particularly important to help traders control their funds and navigate the platforms efficiently. Decent customer support should also mean queries are handled quickly and properly resolved.

Libertex offers several ways for clients to contact its support team, including through Whatsapp, Messenger, and Live Chat. There is also the option of a query submission for less pressing issues, and the website is available in multiple languages.

There is a fairly comprehensive FAQ section provided which covers some of the more basic information regarding the broker.

 

Research

Traders often seek out brokers which provide a decent research offering, as proper analytical tools can play a key role in executing profitable trades on the often volatile Forex market.

Many brokers offer a range of analytics tools that allow traders to remain abreast of changes in the Forex market and respond accordingly.

Forex analysis is used by retail forex day traders to determine to buy or sell decisions on currency pairs. These can be technical in nature, using resources such as charting tools.

Libertex does not provide any research tools on its website, however, the MetaTrader platforms come with a very comprehensive suite of charting and analytical tools. Still, many brokers do provide research tools as an added benefit to their clients.

 

Education and Training

Newbie traders will want to find a broker which offers enough research and training tools to acquire the necessary skills to make profitable trades.

These educational tools range from the very fundamentals of Forex trading to more advanced Webinars and courses, which can also be of use to intermediate traders.

Forex brokers which do not provide research tools are usually geared towards seasoned and professional traders, who will rely more on the broker’s analytics offering to execute trades.

Libertex offers a fairly comprehensive range of educational resources, which include instructive webinars which cover the basics of trading for beginners.

The broker also offers a free demo account with which new traders can familiarise themselves with the company’s features before signing up for a live trading account.

 

Conclusion

Libertex is a well-regulated broker which offers a decent range of tradable instruments, though the company’s offering might prove too limited for advanced traders. While the company’s offer of zero spread trading is highly attractive, the charges on additional costs, such as inactivity fees, can prove quite expensive over time.

 

You might also like: Libertex Minimum Deposit

You might also like: Libertex Account Types

You might also like: Libertex Demo Account

You might also like: Libertex Fees and Spreads

You might also like: Libertex Sign up Bonus

 

Disclaimer

Risk Warning: Trading leveraged products such as CFDs involves a substantial risk of loss and may not be suitable for all investors. 83% of retail investor accounts lose money when trading CFDs with this provider, according to research.

 

Overall Rating

4.7/5

Rated #251 of
Recommended FX Brokers

💰Minimum Deposit

$10

🌐 Regulators

CySec, FSCA

📱 Trading Desk

MT4, MT5, Libertex Web platform

Crypto

Yes

📈 Total Pairs

70 crypto-pairs

49 forex pairs (usdzar as well)

5 metals

26 Indices

130 stocks

6 oil and gas

6 agriculture assets

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FAQ’s

 

Trading Environment

 

How many instruments can I trade with Libertex?

Clients have access to 213 tradable assets

 

Which platforms are supported by Libertex?

Libertex provides the following platforms:

  • MetaTrader4
  • MetaTrader5
  • Libertex Platform

 

Does Libertex offer leverage?

Yes, Libertex offers maximum leverage of 1:30 and 1:1000 for professional clients

 

What spreads can I expect with Libertex?

Libertex offers a zero spread model for all CFD products, meaning clients can trade with no gap between the bid and ask price

 

Does Libertex charge commission?

Yes, Libertex charges additional commissions such as inactivity fees, withdrawal fees, and transaction fees

 

Is Libertex regulated?

Yes, Libertex is regulated by CySEC and the FSCA

 

Is Libertex a recommended forex trading broker for experts and beginners?

While Libertex does offer a professional account, its general range of features makes it more suited to beginner and intermediate traders

 

What is the overall rating out of 10 for Libertex?

7/10

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account is offered by broker companies and funded with virtual money that enables a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account funded with the customer’s actual money.

 

Does Libertex offer a demo account?

Yes

 

Can I convert my demo account to a live trading account with Libertex?

Yes

 

Which live trading accounts does Libertex offer?

Libertex offers one standard account for all retail traders, as well as a professional account for traders with a professional financial portfolio

 

What are the available deposit currencies for a live trading account?

  • USD
  • EUR

 

Deposits and Withdrawals

 

What is the minimum deposit for Libertex?

$ 10

 

How do you make a deposit and withdrawal with Libertex?

Traders can make a deposit through the following methods:

  • Credit/debit card
  • Skrill eWallet
  • Sofort
  • SEPA/International bank wire
  • Neteller
  • Giropay
  • Trustly
  • iDeal
  • Multibanco
  • Rapid Transfer

 

Traders can make a withdrawal through the following methods:

  • Credit/debit card
  • Skrill eWallet
  • SEPA/International bank wire
  • Neteller

 

Does Libertex charge withdrawal fees?

Yes, the withdrawal charge is 0.5% of the withdrawal amount, a minimum of €2 and a maximum of €10

 

How long does it take to make a withdrawal?

For Bank Wire Transfer: This method of payment takes 3-5 days for processing

 

 

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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