Libertex Review
Libertex Review
Libertex is a CySEC-regulated broker. Libertex Group was founded in 1997 and is the trade name for Indication Investments Ltd, a Cyprus Investment Firm authorized and regulated by CySEC.
The Libertex broker offers clients the ability to trade on over 250+ financial CFD instruments across Forex, Stocks, Cryptocurrencies, Metals, Indices Agriculture Oil and Gas as well as ETFs all through its Libertex Web Platform or via MetaTrader 4 or MetaTrader 5 platforms of your PC.
Users may choose between a single live account commission-based with competitive fees but this does vary depending on the Libertex trading platform used or a demo account which is free of charge but not available at present time due to upgrade!
Libertex Pros & Cons
Tradable Products
Libertex group offers traders the ability to trade on over 250+ financial CFD instruments covering Forex, Stocks, Cryptocurrencies, Metals, Indices, and Agriculture. Below are some of the markets available for trading:
| Forex | Cryptocurrencies | Indices | Oil and Gas |
|---|---|---|---|
|
EURUSD
|
Bitcoin |
US30 |
Brent Crude Oil |
|
AUDUSD |
Bitcoin |
US500 |
WTI Crude Oil |
|
USDCAD |
Ethereum
|
Euro 50 |
Henry Hub Natural Gas
|
|
GBPJPY |
Ripple |
UK 100 |
Heating Oil
|
Account Opening
With Libertex Trading, you get a free demo account with one live account. The live account has:
- A €100 libertex minimum deposit.
- Commission-based trading from 0 to 3%.
- Spreads from 1 pip on USDJPY for EURUSD leverage in forex up to 1:30.
The process of opening a new account with the broker is simple, easy and only takes a few steps. Signing up entails providing your name, email address, phone number and employment details (e.g. industry and education level).
Then you will be asked to provide answers related to trading experience, including questions relating to CFD trading as well as knowledge or experience in this area, financial detail such as source of wealth/net worth/annual income and personal information like contact number, date of birth etc.
You are also required to provide proof using documents such as an identity card or utility bill not more than 6 months old (Passport ID), plus proof that you live at the given residence by showing any kind of document issued from local authorities: Utility Bills; Bank Statements; Taxation Returns.
Deposit & Withdrawals Options
Libertex Trading offers a variety of funding and withdrawal methods, but some options have different fees or processing times:
- Debit/Credit Card: $0.95 fee; 7 business days to process.
- Bank Wire Transfer Fee: Free (depending on your bank); 3 business days to process.
Web & Desktop Trading Platforms
Libertex Trading offers traders the ability to trade on their web platform and the globally renowned MetaTrader 4 and 5 platforms for PC. The following are some of Libertex’s features:
Libertex is a web-based platform that enables you to trade on multiple asset classes. Interactive charts and technical tools will help you make the right decisions, so your success rate can be as high as possible. No download is needed since this service has been designed specifically for web browsers!
Libertex Web Platform:
- Trade multiple asset classes.
- Interactive charts and great technical analysis tools!
- No download is necessary.
Libertex MetaTrader 4 (PC):
They have more than 30 built-in indicators and you can create your own! They offer a fully customizable experience where everything is possible. Market hours: 08:00 to 15:30 (Tokyo time). 15.00 to 14.00 (London time). XAU/USD, USD/CAD, EUR/CHF, and many other instruments on the libertex MT4 platform with 21 different order types.
Libertex MetaTrader 5 (PC):
Expert Advisors are available for all your trading needs; advanced charting capability is also integrated into the system for traders, who want more freedom in their charts or need better technical analysis tools due to higher requirements from their job position as a trader.
Mobile Trading Platforms
Libertex offers traders the opportunity to use mobile trading from anywhere on the go through their Libertex app and MetaTrader 4 or 5 apps for Android, and iOS. The links to Libertex download these can be found in Google Play Store and App Store respectively.
Libertex provides a variety of features such as real-time quote streaming and trade management. The Libertex mobile application is an easy way to access the various types of assets available on the app by trading and managing your account on the go.
Trading Features
Libertex does not offer any features or tools that are not already available in the best forex trading platforms offered. However, users who are trading through the MetaTrader 4 and Meta Trader 5 can use their marketplace to access hundreds of additional automated strategies and tools.
Commissions & Spreads
Commission-based trading with Libertex forex will have various commission costs depending on the platform chosen and the market traded.
| Market | Average Spread | Minimum Commission |
|---|---|---|
|
EURUSD
|
0.2 pips
|
-0.008 %
|
|
S&P 500 |
0.83 pips
|
-0.04 % |
|
Brent Crude Oil |
0.03
|
0.0 % |
|
Gold |
0.32 pips |
-0.004 %
|
Commission charges for the MetaTrader and Pro accounts can be found in the broker’s trading specifications.
Overnight swap fees are charged on positions that stay open overnight (22:00) GMT, meaning if positions are held over a weekend or holidays, a three-day swap fee will be assessed Wednesday mornings.
If your account is inactive for 180 calendar days (i.e., there’s no trading, no open trades) you may incur an account maintenance fee of 10 EUR per month to maintain your brokerage status.
Customer Support
Libertex is a multilingual support system that’s available 9 AM – 9 PM (EEST) through live chat, Whatsapp, email, phone, and Facebook Messenger. The FAQ section has in-depth answers to questions about trading transactions, verification processes for traders, and some of the trading conditions.
Trader Education
Libertex offers limited educational materials that feature a beginner trading course and a three-part article on ‘Trading CFDs’. The course includes five lessons in video and written format. Topics include How to Trade, What Is Multiplier?, What is Stop Loss?, and what is Take Profit? Users can also read a three-part article about Trading Option CFDs.
Trading Experience
Libertex offers a trading platform on 250+ CFDs, Forex, Stocks, and cryptocurrencies. Consequently, it does not offer much educational material for advanced traders or even beginners with some experience in trading markets other than stocks or shares of companies listed on stock exchanges. Trading is commission-based and costs are competitive, but there are withdrawal charges when using certain payment methods or exchanging currency from one to another.
Conclusion - Libertex Review
Libertex forex is a Cyprus Investment Firm that offers clients access to more than 250+ financial CFD instruments across Libertex Forex, Stocks, Cryptocurrencies, Metals, and Indices. Users can choose from live or demo accounts for trading, on either Libertex Web Platform as well as the globally renowned MetaTrader 4 and MetaTrader 5 platforms for PC.
