Libertex Review

Libertex Review

Rating

OverView

Company Name
Forex Club International LLC
Headquarters
Cyprus
US Traders Accepted
yes
Trading Platform
MetaTrader 4, MetaTrader 5, Web-based
Trading Instruments
Online Since
1997
Languages
10+ language support
Demo Account
Yes
Pros
  • Member of Libertex Group with 25 years of operations
  • Trading course for beginner traders
  • Competitive spreads
  • Various deposit methods
  • CySEC license
  • Pricing transparency at https://libertex.com/specification
Cons

€10 monthly inactivity fee after 180 days on portfolios below €5,000

Company Name
Forex Club International LLC
Headquarters
Cyprus
US Traders Accepted
yes
Trading Platform
MetaTrader 4, MetaTrader 5, Web-based
Trading Instruments
Online Since
1997
Languages
10+ language support
Demo Account
Yes
Pros
  • Member of Libertex Group with 25 years of operations
  • Trading course for beginner traders
  • Competitive spreads
  • Various deposit methods
  • CySEC license
  • Pricing transparency at https://libertex.com/specification
Cons

€10 monthly inactivity fee after 180 days on portfolios below €5,000

Libertex Overview

I evaluated Libertex, a brokerage firm established in Cyprus and part of the Libertex Group since 1997. Regulated by the Cyprus Securities and Exchange Commission under license number 164/12, Libertex employs its trading platform, serving over 2.2 million clients across various nations. I assessed this broker's trading conditions to gauge its reliability.

Libertex Europe - Current Openings

Libertex Regulation and Security

Country of the Regulator
Name of the Regulator
Regulatory License Number
Cyprus
Cyprus Securities and Exchange Commission
License Number 164/12

Libertex Regulation

Fees

Trading costs significantly influence profitability and are a crucial factor in evaluating an exchange. Libertex provides competitive offerings, such as Forex spreads starting from 0.1 pips or $1.00 per standard lot, with minimum CFD commissions at 0.0003%. Additionally, cryptocurrency CFDs incur no commissions.

Swap rates for leveraged overnight positions are often overlooked but can become a substantial fee, depending on the trading strategy employed. It's advisable for traders to assess these rates as part of the overall trading costs.

For MT4/MT5 users, accessing swap rates involves the following steps:

  1. Right-click on the desired symbol within the Market Watch window and choose Specification.
  2. Scroll down to locate Swap Long and Swap Short details to review the swap rates.

Range of Assets

Popular | Libertex.com

Libertex presents a wide array of CFDs covering 50 currency pairs, 73 cryptocurrency pairs, 17 commodities, 26 indices, 132 equity options, and 10 ETFs. While its selection of underlying assets remains standard for most categories, Libertex distinguishes itself among the top 20 industry leaders for its cryptocurrency CFD offerings.

The platform also caters to long-term investors by offering a commission-free investment account tailored for constructing dividend-paying portfolios through share purchases.

With a maximum leverage of up to 1:30, Libertex provides active traders with competitive flexibility, amplifying their trading possibilities. The provision of negative balance protection is a crucial feature, particularly for those engaged in leveraged trading.

Trading with Libertex remains accessible 24/7 for CFDs, ensuring continuous market access.

For MT4/MT5 traders seeking to access trading hours:

  1. Right-click on the desired symbol within the Market Watch window and choose Specification.
  2. Scroll through until you locate the Sessions section to review the trading hours.

Account Types

Libertex Account Types Reviewed ☑️ (Updated 2023)

I appreciate Libertex's approach of providing equal treatment to all traders. Regardless of deposit size, each trader receives the same account type and trading conditions without any premium upgrades. Notably, the minimum deposit required is only EUR 100.

Regarding the Libertex Demo Account, traders can conveniently open one directly from the MT4/MT5 trading platforms. I found no time constraints or other limitations, which is a favorable aspect of their offering.

Trading Platforms

Libertex Review 2023- Is it Legit or a Scam?

Traders have multiple options for trading on Libertex, including the MT4/MT5 trading platforms or the web-based and mobile-friendly Libertex Platform. However, it's important to note that Libertex doesn't provide any additional add-ons for MT4/MT5. Despite this, MT4 retains its position as the leading platform for algorithmic trading, while MT4/MT5 offers an integrated copy trading system.

The Libertex proprietary trading platform boasts a user-friendly interface, and I appreciate the detailed information available for each underlying asset.

Here's an overview of the trading platforms available:

  • MT4
  • MT5
  • cTrader
  • Proprietary Platform
  • Automated Trading
  • Guaranteed Stop Loss
  • Scalping
  • Hedging
  • OCO Orders
  • Interest on Margin

Research and Education

Libertex Review 2023 - Pros and Cons Disclosed

Libertex recently introduced a research and market reviews section with only three articles available. As of the time of this review, there was no updated research content. While the lack of substantial research material might not be viewed as a negative due to the multitude of free and paid resources available online, it's a feature commonly offered by many competitors in the industry.

For novice traders, Libertex provides educational written content, typically published on the Libertex blog. While the platform previously hosted webinars, the most recent one occurred two years ago, and unfortunately, there's no access to past webinar recordings. As an alternative suggestion, I recommend beginner traders seek educational resources from reliable third-party sources available online at no cost.

Customer Support

Libertex Review 2023 – Expert Trader Insights Libertex Review 2023 - From  An Expert Trader • Asia Forex Mentor

Support for customers is accessible through both email and phone channels. The FAQ section covers various inquiries, with Libertex committing to a one-business-day response time for email queries. Although there's a dedicated help and support section, the division from the FAQ area could be improved. Additionally, the inclusion of a direct line to the finance department would enhance the support infrastructure at Libertex.

Bonuses and Promotions Policy

Libertex has adhered to CySEC regulations by refraining from offering bonuses or hosting promotions since 2018. Instead, Libertex operates a CPA-based affiliate program.

Awards Recognition

Libertex Europe on LinkedIn: Libertex is nominated in 5 different  categories for the prestigious…

Libertex has garnered over 40 industry awards from reputable sources, underscoring its continuous dedication to providing a competitive advantage for its clients.

Highlighted accolades include:

  • World Finance 2020: Best Trading Platform
  • FX Report Awards 2020: Best FX Broker Europe, Best Trading Platform
  • European CEO Awards 2020: Best Trading Platform
  • Ultimate FinTech Awards 2021: Most Trusted Broker Europe
  • European CEO Awards 2021: Best FX Broker
  • FX Report Awards 2021: Best Trading Platform
  • Global Brands Magazine 2022: Best CFD Broker Europe

These awards underscore Libertex's commitment to excellence and service within the industry.

Deposits and Withdrawals

Libertex Review for 2023 - Reputable Broker Regulated by CySEC

Secure Financial Transactions with Libertex

Libertex ensures the secure handling of all financial transactions through its back office.

Deposits with Libertex

Libertex does not impose internal deposit fees. However, withdrawal costs may be applied by various payment processors, and traders should account for potential third-party charges. To open an account, a minimum deposit of €100 is required. Processing times for deposits vary from instant to up to five business days, contingent upon the chosen payment processor.

Withdrawals are only permitted for verified accounts and must be processed using the initial deposit method. Bank wires are the available option for accessing withdrawn funds. However, not all withdrawal options are universally available; availability depends on the trader's geographic location.

Frequently Asked Questions

  1. Withdrawals at Libertex

    • Withdrawal requests at Libertex are managed through the back-office, accommodating various methods such as Skrill and PayPal.
  2. Legal Status of Libertex

    • Libertex is legally registered and operates under the authorization of a CySEC license.
  3. Reputation of Libertex

    • Undoubtedly, Libertex possesses extensive experience, a substantial regulatory history, and stands as a member of the Libertex Group founded in 1997, all contributing to its reputable standing.