Libertex Review 2021 – Is it Legit or a Scam? – Public Finance International

Libertex Logo

Libertex is one of the most established online brokers in the trading sector, with over 2 million retail clients. It was formed in Cyprus and has been operating globally since day one. Since Libertex started its operations, it has won more than 30 international awards. And football teams Valencia CF and Getafe CF are both sponsored by this broker. The bulk of European customers are legally served by this firm.

Summary

Libertex is a reputable online forex and CFD broker that has been establishing its name since 1997. It has since gained more than 2 million users, mostly traders and aspiring traders. Libertex has a lot to offer compared to other brokers, including a good selection of markets, a clean and easy-to-use platform, accepts various payment methods, availability in many countries, and many more. It is overall a great broker for traders who seek a reputable platform and a good choice for those who wish to trade across various different industries.

Overview Table

Broker Name Libertex
Headquarters Cyprus
Foundation Year 1997
Minimum Deposit €10
Deposit Fee €0
Inactivity Fee $5/month after 90 days
Demo Account Yes
Instruments Fixed Time Trades
Platforms Web, Windows, Android, iOS
Assets Stocks, Commodities, Forex, Crypto
Number of Assets 200+
Leverage  1:500
Negative Balance Protection No
Guaranteed Stop Loss No
Broker Type Market Maker, STP
Scalping Yes
Hedging Yes
CFD Trading Yes
STP Trading Yes
ECN Trading No
Account Types Gold Status, GoldPlus Status, Platinum Status, VIP Status
Withdrawal Fee Varies
Withdrawal Time 2-5 days
Regulation CySEC
Customer Support 24\7 (Telephone, chat, email, WhatsApp, Facebook)
Languages 16
Our Score  3.9/5

Pros and Cons

Libertex has many favorable sides to it, but it some of its drawbacks make it impossible for some traders to use. So, have a look at its pros and cons and judge for yourself!

Pros Cons
Clean and user-friendly interface Does not allow hedging
Plethora of technical analysis Does not accept many countries, including the US
Fast switching between demo accounts and real accounts Poor educational material
Fast withdrawal process Two account choices
Low minimum deposit Inactivity fee
No deposit fee
High leverage and competitive spreads
Easy order placement
Trade 200+ instruments
23+ years experience
Used by 2,200,000+ users and traders
No spreads
Good selection of tradable assets
Loyalty program and welcome bonus
Trading course for beginners
Prompt customer service and premium customer service for VIP status
Regulated by trusted government authority (CySEC)

Libertex Compared to Similar Brokers

Below, we compare Libertex to its strongest competitors.

Broker Name Libertex eToro Binance Trading212
Year 1997 2007 2017 2006
Minimum Deposit €10 $50 $0 $1
Commission Yes Yes Yes No
Inactivity fee Yes Yes No No
Platforms Web, Windows, iOS, Android Web, Windows, iOS, Android Web, Windows, iOS, Android Web, Windows, iOS, Android
Regulation CySEC CySEC, FCA, ASIC, FSAS N/A FCA, FSC

We recommend you check out our review of Expert Option and Pocket Option.

Assets/Markets Available

Libertex allows its users to trade across the markets below. It’s worth noting, though, that the instruments accessible to you will differ depending on where you live:

  • 50+ currency pairs
  • 50+ cryptocurrencies
  • 100 stocks
  • 10 ETFs
  • 6 agricultural assets
  • 5 oil/gas instruments
  • 18 indices
  • 5 metals

Libertex Trading Platform

Trading Platform Screenshot Libertex

Libertex gives users access to their unique trading platform. It is entirely web-based and does not require any downloads. The Libertex platform runs well and works seamlessly in any online browser, with a user-friendly interface that makes trade placements as simple as they can be. The web-based trading platform has a simple UI as well as an integrated signal service.

The Libertex platform is great in many regards, with fast execution times (which are critical for day traders) that can help users gain a competitive advantage. While many brokers rely on pre-existing platforms (such as cTrader), Libertex has taken the time to create a user-friendly interface. It’s a site that is customizable and adjustable to fit the trader’s specific requirements.

They have, however, made their service compatible with Metatrader. Clients can use MetaTrader 4 (MT4) or MetaTrader 5 (MT5), two well-known trading platforms with a wide range of capabilities and features, in addition to their own customized platform.

Trading Platform Available
MT4 Yes
MT5 Yes
MT4\MT5 Add-Ons No
cTrader No
Automated Trading  Yes
Proprietary Platform Yes
Copy Trading\Social Trading Yes
Guaranteed Stop Loss No
Negative Balance Protection Yes
Mobile App Yes

Mobile App

You can access the Libertex platform via mobile apps for  Android and iOS. They are easily downloaded via the Google Play Store and Apple App store respectively. You can also download the app directly from the Libertex website. Both Android and iOS applications are updated on a regular basis for security and to improve the user  experience.

The fact that the app has high ratings in both the Android and  iOS app stores demonstrates that it fits many different people’s tastes, and also that it’s well-designed and works effectively on both systems. The software is simple and easy to use, with features like easy order placing, pre-ordering, profit taking, a stop loss feature, and live quotes.

Technical analysis, as well as recommendations and trading signals, are all accessible for free to help mobile traders. The app provides immediate access to news stories from the most popular financial news sources. The option to convert from demo mode to a genuine account with a single tap onscreen is a unique feature of the Libertex app. Since it’s easy to fund the app, mobile users will always have an advantage when it comes to on-the-go trading.

Regulation

Libertex is authorized and regulated by the Cyprus Securities & Exchange Commission (CySEC). It is a reputable government authority that examines firms’ ability to provide fair financial services. Libertex was awarded a trading licence by CySEC, indicating that Libertex can be trusted.

It is also regulated by the Financial Sector Conduct Authority (FSCA), which works on improving the efficiency and integrity of financial markets and encouraging financial institutions to serve customers fairly.

Payment Methods

Traders can finance their Libertex accounts using a variety of payment methods. You should be able to find a method that works for you no matter where you are in the globe.

Deposit

The majority of payment methods are handled instantly. Bank transfers, on the other hand, can take several hours on rare occasions. Users may be charged a €1 fee with some deposit methods. You can make deposits on Libertex via the methods below: 

  • Debit/credit card
  • Bank transfer
  • Skrill
  • Sofort
  • Neteller
  • Trustly
  • iDEAL
  • GiroPay
  • Multibanco
  • Rapid Transfer
  • P24

Withdrawal

Users who deposit money using one of the methods must withdraw it using a different method. We recommend reading the Libertex terms and conditions for additional details.

Commission & Spreads

Libertex has only opted to charge commissions on trades and there is no charged spread. The charged commissions may vary from trade to trade and from asset to asset. Commissions on some of the most popular currency pairs (like EURUSD) are around 0.008% on average.

Commissions for cryptocurrency pairs can range from 0.47%-2.5%. Stock commissions range from  0.1%-0.2%. It’s a good idea to read the terms and conditions to learn more about how commission percentages change and factors affect them.

Fees

Libertex is completely free to join, and there is no monthly trading fee. The commissions mentioned above are the only fees you pay. There are no hidden fees since deposits and withdrawals are both free. 

Holders of professional accounts may be able to trade with more favorable leverage. To qualify for one of these accounts, clients must provide proof of considerable trading activity within the past 12 months. Professional financial experts, depending on their level of experience, will also be considered for professional accounts.

Leverage

On Libertex, leverage rates change depending on the trades that the user is considering. Leverage is limited to a maximum of 1:30. This level is widely regarded as an industry standard among all European licensed brokers, and it applies to the majority of forex pairs.

Account types

Libertex, unlike other online brokers, claims to not provide various account types, and instead just a “real” account and a “demo” account. However, professional traders can access leverages of up to 1:600 if they can demonstrate they have significant trading credentials or experience. Depending on the amount deposited, several status levels can be accessed within the real account. The following are the levels:

Status Gold Status GoldPlus Status Platinum Status VIP Status
Deposit Amount €250 €1,000 €1,500 €5,000
Benefits Commission discount of 3% Commission discount of 4% Commission discount of 20% Priority withdrawal Commission discount of 30% Priority withdrawalpremium Customer support

Demo Account

Libertex offers a demo account to all of its clients. This allows you to practice your trading skills and learn more about the Libertex platform before depositing real funds into it. The account comes with a virtual balance of €50,000 to trade with. 

The demo account is helpful since it helps new users decide whether the platform is right for them. Clients that register for a demo account also register for a genuine account (although they will be unable to access the real account without first making a deposit).

Demo accounts are available on the web and through mobile apps. On the Libertex website/app, switching between demo and real mode is simple, which allows users to take advantage of quickly shifting market situations.

Research & Education

Libertex’s unique trading platform incorporates in-house analytics. They consist of a recommendation under the asset with no details, and they are one of the reasons the CySEC suspended Libertex’s license after the regulator concluded it wasn’t acting in good faith. 

Professional Charting

Libertex’s traders have access to detailed charting for each asset. There is also the option to view the chart in full-screen mode, which allows for a thorough analysis. There are several free indicators and sketching tools available with this broker. In most cases, chart analysis is the most crucial tool for making profitable trades.

One of the best charting systems for traders is being used by Libertex. Tradingview.com provided the inspiration for this design. On this platform, almost every indicator and tool is available. All of the tools can be adapted to the chart or trading strategy on their own. You can choose from various chart displays and time units for the analysis depending on the technique. 

Education 

Beginner traders receive a three-hour trading course divided into easy-to-understand lessons. Other than that, Libertex lacks a lot of important educational material. 

Special Features

Beside being user-friendly, the  platform features a lot of unique tools, such as charts, indicators, and timeframes that are important during technical market analysis. Libertex is great for traders all around the world since it can show information in 16 languages.

You can choose from nine different timeframes, ranging from one minute to one month. There are 43 indicators available: 13 oscillators, 22 trend indicators, and 8 volatility indicators. 

You can look at live quotes for every instrument by using the Order Management feature. And you can also customize a favorites list to only include your most frequently traded assets. This is helpful for managing price fluctuations on regular trades. You can view your order history, pending orders, and wallet balance from the same section of the site.

Other users’ trading activities on Libertex are announced in the Live Trades section. This is particularly useful for traders who wish to keep an eye on trends or maybe mimic other traders’ profitable decisions.

Customer support

Phone calls, email, Twitter, and Facebook are all options for contacting Libertex’s customer service. Libertex promises to provide 24-hour help. The FAQ section tries to answer a variety of issues, and Libertex promises a one-business-day response time for email queries. 

Contacting info are listed below

  • Phone: +35722 025100
  • Email: help@libertex.com
  • Facebook: facebook.com/libertex
  • Twitter: twitter.com/libertex europe

Is Libertex Safe To Use?

Libertex is a safe and secure online broker, regulated by CySEC. Libertex has implemented client fund segregation, meaning that if the company runs into financial difficulties, traders may be confident that their assets will be handled separately and safeguarded by the Cyprus Securities and Exchange Commission legislation.

Additionally, Libertex employs 128-bit SSL (Secure Socket Layer) encryption, assuring clients that their personal information is safe and secure. Apps for Android and iOS are also updated on a regular basis for security.

Bottom Line

In comparison to other trading platforms, we can conclude that this CFD broker has a lot to offer. It is regulated by CySEC and is a football team sponsor. Libertex has over 200 trading markets to choose from. Since it began operations over 23 years ago, it has received more than 30 international awards. 

This broker has a very reasonable charge policy. It’s a plus that it doesn’t charge any fees for deposits and only has little withdrawal fees that are easy to handle. The platform is clean and well-designed. It’s simple and easy to use, but it’s also competitive.

Leave a Reply

Your email address will not be published. Required fields are marked *