CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62.2% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Contents
Libertex is an online stocks and CFD broker, their headquarters are located in 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 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.
Company Details
Libertex is the trading name of Indication Investments Ltd, which itself forms a part of the Libertex Group.
The group has been in operation since 1997, and currently serves over millions of clients across many different countries.
With over 40 industry awards to its name, Libertex is certainly a reputable platform to trade from. As a market making broker, Libertex takes the other side of the trade from you, and charges low commissions and tight spreads.
As a fully regulated online broker with years in the industry, it is fair to say that Libertex is a strong and reputable brand. With over 250 underlying assets to choose from, it’s the perfect choice for those who want to trade CFDs across a variety of different industries.
Trading Platform
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 smoothly in any web browser, complete with a user friendly interface to facilitate all operations.
The platform executes trades quickly and provides a stable services.
While a lot of brokers make use of existing platforms (such as cTrader), Libertex has put the effort in to design an interface with user experience in mind.
However, they have also integrated their service with Metatrader. So, in addition to their own bespoke platform, clients can also use either MetaTrader 4 (MT4) or MetaTrader 5 (MT5), two well-established trading platforms that offer a wide range of functionalities and features.
Underlying Assets/Markets
Libertex provides its users with the potential to trade CFDs across the following underlying assets:
- 50+ currency pairs
- 100 stocks
- 50+ cryptocurrencies
- 5 metals
- 18 indices
- 6 agricultural assets
- 5 oil/gas instruments
- 10 ETFs
Spreads & Commission
Libertex apply tight spreads across all underlying assets.
Spreads vary by asset class, but Libertex remain competitive across most trades. Importantly, there are zero crypto CFD trading commission fees. Tight spreads apply, check Libertex.com for details.
Fees
Libertex does not apply fees for deposits. The minimum deposit is €100.
Withdrawals via Skrill and PayPal are free, the cost of other type of withdrawal varies on the payment method. Visit the payment methods page for full up to date details, but any fees are clearly stated at the point of confirmation. Most are in the region of 0.5% or 1%. Some methods are also dependant on the region.
Leverage
Leverage rates on the Libertex platform are set in accordance with the regulatory requirements for each class of assets.
The maximum leverage rate is up to 1:30 for retail clients. This level is generally considered an industry standard across all European regulated brokers
Mobile Apps
The Libertex platform can be accessed via dedicated mobile apps for iOS and Android devices. These can be 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 features.
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 clear and user-friendly, with full market access, the ability to pre-order, a stop loss and profit taking feature, and live quotes.
Technical analyses are available 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.
Payment Methods
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
Deposits can be made on Libertex via the following methods:
- Bank transfer
- Debit/credit card
- Skrill
- Paypal
- Neteller
- Sofort
- Trustly
- GiroPay
- iDEAL
- Multibanco
- P24
- Rapid Transfer
- …etc
Most payment methods are processed in an instant. However, bank transfers could take several hours on occasion. The minimum deposit for a real account is €100.
Withdrawals
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.
Demo Account
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.
Bonuses Or Discounts
Libertex is not currently offering any bonuses or discounts as per CySec requirements.
Regulation & Licensing
Libertex is regulated and authorised by CySEC (the Cyprus Securities & Exchange Commission). License Number 164/12
Additional Features
The Libertex platform also comes with a range of features including charts, timeframes and indicators which are useful during technical analysis of the markets. There is a choice of 10 languages to display information in, making Libertex applicable for traders in various countries.
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 underlying asset.
A favourites list can be customised to only include your most frequently traded underlying 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.
MetaTrader 4 platform
Account Types
Libertex offer a Real Account and Demo Account. They also offer an Invest Account for investing in shares (not via CFDs)
Benefits
- Lots of technical analysis tools
- Good Platform design
- Fast withdrawals
- Live quotes
- Trade on over 250 underlying assets
- Great customer service
- Fully regulated broker
- Multiple years of experience
- Invest in real shares with zero commission fees. Market spreads apply.
Drawbacks
- No MetaTrader 4 or MetaTrader 5 support
- Poor education section
- Charges for some withdrawal methods
Trading Hours
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 9 different languages. There is a live chat option available, or the customer service team will generally provide you with a reply to your query within an hour.
Authentication Security
Libertex makes use of 128-bit SSL (Secure Socket Layer) encryption, providing users security 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 allows clients to trade whenever they want.
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.
Accepted Countries
Libertex only accept clients from the EEA Area and from Switzerland
One Comment