Libertex Review 2024
Website: www.libertex.com
Min. Deposit: US$ 10
Leverage: 1:30
Trading Platforms: Libertex WebTrader, MT4
Regulation: CySEC
Headquarters: Cyprus
Founded: 1997
Regulatory Licenses:
- Indication Investments Ltd. - authorized by CySEC (Cyprus) registration no. 164/12
Updated on January 16, 2024
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Libertex stands as a prominent international brokerage firm, rooted in Cyprus, and has been providing professional trading experiences primarily in Forex and CFD trading to a diverse clientele from over 110 countries since 1997. The brokerage boasts a selection of 213 tradable assets, all accessible on its reliable, award-winning platform characterized by swift order execution through market execution.
Our analysis reveals that Libertex excels with flexible trading conditions, offering a solid selection of platforms, and pricing integrated into a commission model. A key advantage is the absence of spreads, with the broker imposing minimal commissions on trades, which are determined based on market conditions and the percentage of trades.
Pros
Flexible trading conditions
No spreads
Minimal commission charges
Cons
Limited educational resources
Only CFDs and FX available
No support during weekends
No provision for Islamic accounts
Libertex is not a scam but a reputable brand used by Indication Investment Ltd, a company based in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC). This designation places Libertex in the low-risk category for forex trading.
Compliance
The firm adheres to rigorous operational standards, including maintaining substantial capital to prove liability, implementing customer protection procedures, and being a member of the Investor Compensation Fund. This assures clients that they are trading with a broker that complies strictly with the regulatory frameworks, thereby offering peace of mind.
The regulatory status is a vital aspect when selecting a broker. The strict regulatory environment imposed by serious authorities, like the one governing Libertex, ensures that the broker operates within the rules set by the MiFID. This EU authority oversees financial markets and investment service firms within the zone, ensuring compliance and reliability, and authorizes them to offer services across the EEA (European Economic Area).
Our conclusion on Libertex reliability is positive, with a trust score of 8.9 out of 10, acknowledging its good reputation and quality service over the years. Additionally, Libertex's licensure by a reputable financial regulator underscores its trade safety.
Is Libertex available in USA? ▲
Libertex does not offer its services in the USA, as it lacks regulation by major US regulatory bodies such as the NFA or CFTC. Therefore, US traders cannot access Libertex trading platforms.
Libertex Review Summary in 12 Points ▲
Headquarters: Cyprus
Regulation: CySEC
Instruments: Forex currency pairs, stocks, metals, indices, commodities, and cryptocurrencies
Platforms: Libertex WebTrader, MT4
EUR/USD Spread: 0.011% from open position
Demo Account: Available
Base currencies: GBP, USD, EUR
Minimum deposit: $10
Education: Learning materials cover trading basics with beginner courses and advanced programs
Customer Support: 24/5
Our overall impression of Libertex is notably positive. The broker is renowned for its reliability, esteemed reputation, and competitive trading conditions, offering an exceptional trading experience predominantly for professionals. The major benefit is that Libertex does not implement spreads and only charges minimal commissions on trades.
Libertex's overall ranking stands at 7.9 out of 10, following our comprehensive testing and comparison with over 1000 brokers.
Leverage is a powerful financial tool that enables traders to amplify their trading capital by borrowing funds from their broker. While leverage can significantly increase the potential for profit, it also raises the risk of amplified losses, making it crucial for traders to use leverage wisely. At Libertex, leverage levels are determined by regulatory restrictions set forth by the European MiFID. For major currency pairs, the maximum leverage is capped at 1:30, for minor currencies it's 1:20, and for cryptocurrencies, a maximum of 1:5 is allowed. International traders, however, might have access to higher leverage ratios depending on their location. It's vital for traders to educate themselves on the prudent use of leverage and to avoid reckless trading practices.
Libertex simplifies the account selection process by offering a singular account type for retail traders. The process begins with the opening of a Demo account, which can then be transitioned to a live trading account upon funding. This Libertex account allows traders to choose between a proprietary platform or the widely-used MT4. Additionally, Libertex has crafted a distinct account specifically for professional traders, offering custom solutions and designs tailored to their needs.
Our comprehensive research into Libertex's offerings has revealed a diverse range of trading instruments. Clients can trade in Forex currency pairs, stocks, metals, indices, and commodities. Cryptocurrency trading is also prominently featured, with an array of popular and lesser-known pairs including Bitcoin, Ethereum, Ripple, Monero, Dash, Stellar, Zcash, EOS, NEO, and many others. Throughout its operation, Libertex has been recognized with approximately 30 international awards from reputable organizations, especially for its Cryptocurrency trading solutions. The Libertex Markets Range scores an 8.4 out of 10 for its wide selection of instruments, though it's important to note that trading is limited to CFDs and FX, without the option to trade real assets on an exchange.
Libertex distinguishes itself by offering 0 spreads consistently, with trading costs calculated as a commission based on a specified percentage of the opened position. This transparent pricing structure allows traders to know upfront the exact cost of a trade, which is advantageous for traders of all experience levels. Additionally, an account inactivity fee is applied after a certain period of inactivity. Compared to over 1000 other brokers, Libertex's fees are considered low, with an overall rating of 8.1 out of 10. It's essential for traders to review the specific fees and commissions, which may vary depending on the entity through which they are trading.
Rollover or overnight fees should always be factored into trading costs. These fees are applied to positions that are held open for longer than a day and vary depending on the specific trading instrument. An example of such fees can be found in the detailed table. Understanding and accounting for rollover fees is crucial for traders aiming to optimize their trading strategy and manage their costs effectively.
Libertex offers a unique approach to trading costs, eliminating spreads altogether and instead, applying a commission charge. The absence of spreads on all assets, with commissions determined by the size and type of the trader's position, earns Libertex a commendable score of 4.5 out of 5 in our evaluation, positioning it competitively among over 1000 brokers we've reviewed.
Pros
Multiple funding methods including bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller
Low minimum deposit requirement
Cons
Withdrawal fees may apply depending on the payment method
Libertex excels in offering a wide array of payment options, ensuring flexibility for traders. Notably, the platform supports various e-wallets alongside traditional banking and card options, catering to a global audience. The broker's commitment to accessibility is evident in its low minimum deposit of $10, significantly lower than the industry's average. However, it's important for traders to inquire about potential withdrawal fees, as these can vary by payment method. Overall, Libertex's funding methods are highly rated, achieving a score of 4.0 out of 5.
Pros
Offers both MT4 and a proprietary trading platform
Platforms are userfriendly and suitable for all levels of traders
Mobile trading supported
Cons
Limited educational resources available
Libertex stands out with its dual-platform offering, including the industry-standard MT4 and its custom-designed, cross-platform Libertex Web. Both platforms are praised for their user-friendly interfaces and comprehensive market analysis tools, catering to a wide range of trading preferences. The mobile trading app further enhances Libertex's appeal, offering flexibility and a suite of analytical tools for trading on the go. Despite its strengths, Libertex's educational offerings are somewhat limited, a factor that traders seeking extensive learning resources may need to consider. Nonetheless, the platforms' overall functionality and adaptability secure Libertex a high rating of 4.4 out of 5.
Libertex emerges as a trustworthy broker with over two decades of industry presence, distinguished by its innovative approach to trading costs and versatile platform options. The broker's commission-based pricing model is intelligently designed to adapt to market conditions and individual trade specifics, ensuring transparency and fairness in trading costs. While there are areas for improvement, particularly in educational resources, Libertex's strengths in platform technology, customer support, and flexible funding options present a compelling proposition for a broad spectrum of traders. From professionals to beginners, and those interested in a variety of trading strategies, Libertex offers a robust and adaptable trading environment. As such, Libertex is recommended for a diverse range of trading needs, including advanced strategies, copy trading, and a preference for the MT4 platform, among others.
