Libertex Review and Tutorial 2021
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|83% of retail investor accounts lose money when trading CFDs with this provider.|
|Libertex Facts & Figures|
Libertex - Trade Online. Libertex offer CFD and Forex trading, with fixed commissions and no hidden costs.
|Instruments||CFD, Forex, Crypto, Stocks|
|Mobile Apps||iOS and Android + Browser based platform|
Libertex provide trading on the largest number of crypto currencies anywhere, with small spreads and no spread.
|Spread||50% reduced comissions|
|Coins||Over 50 Cryptos|
Libertex is a popular online forex and CFD broker which operates out of Limassol, Cyprus. This review is designed to provide details about the services offered by Libertex, including the account types on offer, the features of its trading app, and whether it is possible to practice trading with a demo account. The review will also list any bonus offers currently available and key comparison data (such as minimum deposit amounts, minimum trade amounts and commission among others). If you would like to know more about Libertex, read on.
Libertex is the trading arm of Indication Investments Ltd, which itself forms a part of the Libertex Group.
The brand has been in operation since 1997, and currently serves over 2.2 million clients across 11 different countries.
With over 30 industry awards to its name, Libertex is certainly a trustworthy platform to trade from. As a market making broker, Libertex takes the other side of the trade from you, and only charges commission as opposed to spreads.
As a fully regulated online broker with over 20 years in the industry, it is fair to say that Libertex is a strong and reliable brand. With over 200 assets to choose from, it’s the perfect choice for those who want to trade across a variety of different industries.
Libertex provides users with access to its own unique trading platform. It is completely web-based, and no downloads are required.
The Libertex platform runs functionally and smoothly in any web browser, complete with a simple interface which makes trade placements as easy as can be.
Fast execution times (which are crucial for day traders) make the Libertex platform one of the most user-friendly in the world and can help to provide users with a competitive edge.
While a lot of brokers make use of existing platforms (such as MT4 or MT5), Libertex has put the effort in to design an interface with user experience in mind. It’s a site which can be customised and tailored precisely to the needs of the trader.
However, they have also integrated their service with Metatrader. So in addition to their own bespoke platform, there is also a Metatrader 4 platform for those trades who prefer that software.
Libertex provides its users with the potential to trade across the following markets. However, it is worth pointing that the instruments available to you will vary dependent on your country of residence:
- 49 currency pairs
- 100 stocks
- 41 cryptocurrencies
- 5 metals
- 18 indices
- 6 agricultural assets
- 5 oil/gas instruments
- 10 ETFs
Spreads & Commission
In an industry first, Libertex has decided to only charge commissions on trades. No spreads are charged.
The commissions charged can vary from asset to asset, and from trade to trade. On some of the most popular currency pairs – EURUSD, for example – commissions average at approximately 0.008%.
On cryptocurrency pairs, commissions can vary from anywhere between 0.47% to 2.5%.
Commissions on stocks sit between 0.1% and 0.2%. Ultimately, it’s worth reading the terms & conditions for more information on how commission percentages change and what affects these changes.
Libertex is free to join and there is no monthly fee for trading. The only fees associated with trading are the commissions as mentioned above.
Deposits and withdrawals are free, so there are no hidden costs
Leverage rates on Libertex can change dependent on the trades considered by the user. The maximum leverage rate is 1:30. This level is generally considered an industry standard across all European regulated brokers and applies to most forex pairs.
It is possible for holders of professional accounts to trade with more favourable leverage.
To gain one of these accounts, users are required to provide evidence of significant trading within the past twelve months. Professional financial experts will also be considered for professional accounts, subject to their level of experience.
The Libertex platform can be accessed via dedicated mobile apps for iOS and Android devices. These are easily downloaded via the Apple App store and Google Play Store respectively.
Alternatively, users may wish to install the app direct from the Libertex website. Both Android and iOS apps are regularly updated for security purposes and to enhance the user experience.
The fact that the Libertex app has high ratings in both iOS and Android stores is proof positive that it has been well-designed and functions well across all operating systems.
From a design perspective, the app is clean and user-friendly, with easy order placement, the ability to pre-order, a stop loss feature, live quotes and profit taking.
Technical analyses are freely available, along with recommendations and trading signals to assist mobile traders. News stories from the biggest financial news sites are delivered direct within the app.
One innovative feature of the Libertex app is the ability to switch from demo mode to a real account with a single tap onscreen.
Funding the app is fast, which means mobile users will always be at an advantage when it comes to trading on-the-go.
Libertex allows traders to fund their accounts via several different methods. Regardless of where you are in the world, you should be able to find a method that suits you.
Deposits can be made on Libertex via the following methods:
- Bank transfer
- Debit/credit card
- Rapid Transfer
Most payment methods are processed in an instant. However, bank transfers could take several hours on occasion. Users may be charged £1 for some deposit methods. The minimum deposit for a real account is £10.
Some payment methods (such as Sofort, Trustly, Multibanco, GiroPay and iDEAL) can only be used to fund the account.
Users who deposit funds using any of these services are required to withdraw funds via another method. For more information, we recommend reading the Libertex terms and conditions.
Libertex provides its users with access to a demonstration account. This allows clients to hone their trading skills and investigate how the Libertex platform works before they decide to deposit any real funds.
Libertex demo accounts come with £50,000 in virtual money to trade with. Demo accounts can be accessed via web and mobile apps.
The Libertex demo account is useful because it allows new users to find out whether the platform is suited to their trading style.
When signing up for a demo account, users also sign up for a real account (although they will be unable to access the real account without first making a deposit).
It is easy to switch between demo mode and real mode on the Libertex website/within the app, allowing users to take advantage of rapidly changing market situations.
Deals & Promotions
Libertex is not currently offering any offers, in line with the EU (ESMA) regulatory guidelines.
Regulation & Licensing
Libertex is regulated and authorised by CySEC (the Cyprus Securities & Exchange Commission).
CySEC is a trusted government authority which audits the ability of companies to provide fair trading and financial services. The fact that Libertex has been granted a licence to trade from CySEC means that the company can be fully trusted.
In addition to being incredibly user-friendly, the Libertex platform also comes with an abundance of features including charts, timeframes and indicators which are useful during technical analysis of the markets. There is a choice of 16 languages to display information in, making Libertex ideal for traders all around the world.
There are 9 timeframes to choose from, ranging from one minute to one month. 43 indicators are on offer, including 22 trend indicators, 8 volatility indicators and 13 oscillators.
Users can use the Order Management feature to look at live quotes for every available instrument.
A favourites list can be customised to only include your most frequently traded assets.
This is useful for effectively managing price movements on regular trades. From the same area of the site, users can look at their order history, wallet balance and pending orders.
A Live Trades section announces the trading activities of other traders on the Libertex platform. This is particularly handy for those who want to keep an eye on trends or perhaps mirror the trading decisions of others.
Unlike other online brokers, Libertex claims not to offer multiple account types, and instead simply lists a “real” account and a demo account.
However, dig a little deeper and you’ll find that professional traders can access leverages of 1:600 provided they can prove they have significant trading experience or credentials.
It’s also worth noting that within the real account, it is possible to access different status levels based on the amount deposited. These levels are as follows:
- Gold status: Traders must make a deposit of £250 during the lifetime of their account. Those who achieve gold status are rewarded with a commission discount of 3%.
- GoldPlus status: Traders who deposit £1,450 receive a commission discount of 4% as a reward.
- Platinum status: Deposits of £1,500 provide traders with a 20% commission discount, as well as access to priority withdrawals.
- VIP status: Traders who deposit £5,000 or more are eligible for a 30% commission discount, priority withdrawals and premium customer support.
- User-friendly interface
- Easy order placement
- Lots of technical analysis
- Easy switching between demo and real accounts
- Fast withdrawals
- Trading signals and recommendations
- Live quotes
- Trade on over 200 instruments
- Great customer service
- Fully regulated broker
- 20+ years’ experience
- No MetaTrader 4 or MetaTrader 5 support
- Poor education section
- Charges for some deposit/withdrawal methods
The Libertex platform can be accessed via web or app 24/7, 365 days a year.
While it is possible to trade at any time, it’s worth pointing out that markets aren’t necessarily open 24/7! While you’re free to log in whenever you like, trading is limited by the hours the markets you wish to trade on are open.
Let’s take the forex market as an example. The New York forex market is open between 9am and 5pm GMT. The London forex market is open between 3am and midday GMT.
The Toyko market opens between 7pm and 4am GMT. There will always be opportunities to trade, although your trading options are time-restricted – especially if you only want to trade on a certain market.
Contact Details/Customer Support
Libertex customer support is available in 11 different languages. While there is no live chat option available, the customer service team will generally provide you with a reply to your query within an hour.
Contact details are as follows:
- Email: email@example.com
- Phone: +35722 025100
- Facebook: facebook.com/libertex
- Twitter: twitter.com/libertex_europe
Safety and Security
Libertex has implemented client fund segregation, which means that in the event of the firm suffering financial difficulties, traders can rest assured that their funds are held separately and protected under the Cyprus Securities & Exchange Commission legislation.
In addition to this, Libertex is also a contributor to the ICF (Investor Compensation Fund) which covers trader deposits up to £20,000 in the event of insolvency.
In addition to protecting funds, Libertex makes use of 128-bit SSL (Secure Socket Layer) encryption, providing users with peace of mind that their personal data cannot be compromised.
Android and iOS apps are also regularly updated for security purposes.
Overall Libertex Review Verdict
As one of the world’s most established online brokers, it should come as no surprise that Libertex has a lot to offer newcomers, casual traders and experienced professionals alike.
Commission levels are attractive, and a unique platform full of features helps clients to make the right trades.
While Libertex might lack certain educational tools, it makes up for this with a streamlined interface that facilitates rapid trades – and that’s more than enough reason to open an account today.
Libertex accepts traders from Thailand, United Kingdom, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Libertex from United States, Australia, New Zealand, South Africa, Russian Federation, Japan, Canada, Brazil.
|Libertex - Trade Online. Libertex offer CFD and Forex trading, with fixed commissions and no hidden costs.
83% of retail investor accounts lose money when trading CFDs with this provider.
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