Libertex.com Review

On May 12, 2020

Libertex.com is an online trading company that started in 1997. It's an easy to use platform that allows people to trade over 200 assets in a variety of markets. It's won many international awards.
Libertex.com review
  • Editor Rating

  •  
  • 4/5 - Good
Free Demo
Account
  •  

  •  
 

  • Libertex.com review
  • Website: www.Libertex.com
  • Age: Established in 1997
  • Extra: Mobile Version Available
  • Easy to Use
     
  • Price
     
  • Reliability
     
  • Customer Service
     
 

  • Review Summary:

  • Libertex.com is an online trading company that started in 1997. It's an easy to use platform that allows people to trade over 200 assets in a variety of markets. It's won many international awards.

     

 

Risk Warning: Trading leveraged products such as CFDs involves substantial risk of loss and may not be suitable for all investors. 74-89% of retail investor accounts lose money when trading CFDs. Trading such products is risky and you may lose all of your invested capital.

LIBERTEX is a trading platform used by Indication Investments Ltd. a Cyprus Investment Firm which is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF Licence number 164/12.

In fact, the Global Banking and Finance Review voted it the best trading application in the European Union.

Still, perhaps two of the biggest appeals are the variety of investments they offer as well as the fact that they're a market-making broker, so they only charge commission not spreads.

@   Find out more 

Libertex.com - Online forex, cfd and crypto trading platform

Who is Libertex Suitable For?

Libertex is suitable for both professionals and beginners. You have the choice between a basic retail account and a professional account. Both types of accounts work the same, but the professional account offers you access to higher leverage. A basic account offers leverage of up to 1:30 while a professional account offers leverage of up to 1: 600. They provide an in-depth charting and a wide selection of assets to appeal to professionals. Plus, you can watch live trades as they happen.

Libertex.com - Online forex, cfd and crypto trading platform

The platform is simple to learn, and except for the time it takes to upload your identity verification and proof of address, the account only takes about 5 to 10 minutes to set up. Libertex even offers a demo account that you can practice on and see if it's a good match for you. They also offer a video course for free with your account that will help you learn about different markets and how to adapt to them.

@   Find out more 

Top Features

Libertex offers trades in stocks, indices, forex, commodities, metals, cryptocurrencies, and energy resources. They make it very easy to trade using their automated trading, which allows you to automate your trading strategies based on different technical indicators as well as information from expert advisors.

Another great feature is that Libertex is a commission only trading platform and offers a commission discount for new members of up to 50%. They also provide what they call "status level" commission discounts if you meet specific lifetime deposit amounts.

@   Find out more 

libertex trading platformLibertex is a proprietary platform that is easy to use over multiple devices, and it doesn't require any downloads except if you want to download the mobile app onto your phone; otherwise, the browser includes everything you need.

The platform interface is simple, but because it is simple means you don't have a lot of room to customize. The Libertex platform offers its users 43 different indicators, including trends, oscillators, and volatility indicators. You also get nine different time frames and a variety of charts for technical analysis. You can also see live quotes from all the featured trading instruments, and you can create a customized trading list for your most traded assets.

Charges/Costs

Libertex charges commission on every trade placed on its platform. The commission charged varies by asset and trade. The good thing is they are very upfront about the commission they are charging, so there are no surprises.

They don't offer spreads like other brokers, which can be beneficial. However, be aware because Libertex does charge fees that other brokers don't. While it doesn't require a deposit fee, it takes transaction fees, withdrawal fees, inactivity fees, and rollover/overnight fees.

Libertex.com - Online forex, cfd and crypto trading platform

If you withdraw money by any method other than Skrill, Libertex will charge a withdrawal fee, and the fee amount will vary by method.

The minimum deposit for the company is €100 Euros, so you can get your feet wet without having to commit a lot of money to it.

@   Find out more 

Security and Fund Regulation

The Cyprus Securities and Exchange Commission (CySEC) regulates Libertex. It keeps your funds safe by separating the broker's funds from investor's funds, so even if the broker goes bankrupt, your money is safe.

Libertex.com - Online forex, cfd and crypto trading platform

Libertex is also a member of the Investors Compensation Fund, so the trader's deposits are insured up to $20,000 if Libertex becomes insolvent.

Libertex encrypts all data before it is transmitted. It protects its website with 128-bit Secure Socket Layer (SSL) encryption to protect your information from cybercriminals.

Criticism of Libertex

@   Find out more 

Libertex is a reliable company, but be aware it does have certain issues you need to keep in mind. One problem is the verification process when you make your first withdrawal. You have to answer a lot of questions and go through a lot of red tape for the initial withdrawal. It does take a while to go through it all, so you'll need to be a little patient.

Another issue with Libertex is that it may be overly simplistic for the most serious traders. They only offer one type of account. Expert traders will probably find that Libertex does not provide detailed enough technical analysis. For someone with a very sophisticated trading style, Libertex definitely will not offer enough options for them. Also, if you have a considerable capital that you're working with, you'd probably be better off with a different broker.

man sad while working on computer

As mentioned before, Libertex does charge a lot of additional fees that other brokers don't charge. However, to give credit where credit is due, Libertex is very open about their commission charges. The minute you open a trade, they will tell you exactly how much the commission is for the trade, so you know what it will cost you right from the start.

@   Find out more 

For a basic retail account, the leverage is 1:30, which is the same as all other EU brokers due to ESMA restrictions. However, for professional clients, the maximum leverage is a generous 1:600.

Customer Support

Libertex has recently upgraded their support system to offer a Live Chat option. This brings response times down to minutes, instead of hours or days when using the legacy support ticket system. For those who wish to speak to a real person on the phone, they have a customer service number to connect you directly to their team in Cyprus.

Libertex.com - Online forex, cfd and crypto trading platform

They do have a presence on social media platforms like Facebook and Twitter, where you may be able to attain some information, but the platforms aren't regularly updated, so I wouldn't rely on them.

@   Find out more 

Libertex does have a reasonably expansive knowledge base available on their website, so if you have a more general question, you can likely find the information you need there. If you have more specific questions, you'll have to call or email them, and you may need to be a little persistent.

Additional Helpful Features

The Libertex trading platform is pretty solid and useful for those with limited funds and trading experience. In addition to the platform itself, Libertex also offers some helpful resources for free to its users. These resources include:

● An informative blog 

● Breaking Financial News Feed 

● Educational Materials

Libertex.com - Online forex, cfd and crypto trading platform

The Libertex blog is free to access and features information on forex, trading, and cryptocurrencies. It's an excellent resource for investors to take a look at if they want additional information on a specific investment subject. The news feed is updated daily so you can stay up to date on the latest trends and trade developments.

Libertex offers a video course featuring 29 different lessons. While the video course won't teach you how to invest, it does provide new traders with information on specific concepts featured on the platform that traders may not fully understand.

Besides specific information like how to use the platform to open a trade, it also offers information to clarify what multipliers are, what a Stop Loss is, etc. The videos are an excellent way for those who have a basic understanding of investing to tighten up their knowledge of certain aspects of investing that may confuse them.

@   Find out more 

Conclusion

Libertex is a fully regulated forex and CFD broker with over 20 years of experience. It's a no-frills easy to use platform that is great for beginners and moderate investors, but expert traders will probably need more than Libertex has to offer.

It can sometimes have hefty commission fees, but it doesn't have any spreads, and they are upfront about their fees, so you know exactly how much you are going to be paying for each trade. Libertex doesn't offer many extra features, but what they do offer is sufficient for most small investors.

Overall, it's a reliable platform that doesn't take a lot of specialized training to learn how to use it. It requires a small deposit to get started compared to other platforms. Libertex also offers a variety of additional resources to help you learn and become more confident in different aspects of trading in various markets.

 
Libertex.com
Editor rating