Libertex Review 2024

Quick Links

• Our Review Method

• Libertex Pros and Cons

• Is Libertex safe or a scam?

• Libertex Review Summary in 12 Points

• Overall Libertex Ranking

• Is Libertex available in USA?

• Leverage

• Account Types

• Trading Instruments

• Fees and Commissions

• Rollover Fees

• Spread

• Deposits and Withdrawals

• Trading Platform

• Conclusion

Our Review Method ▲

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.

Libertex Pros and Cons ▲

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

Is Libertex safe or a scam? ▲

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

Overall Libertex Ranking ▲

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 ▲

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.

Account Types ▲

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.

Trading Instruments ▲

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.

Fees and Commissions ▲

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 Fees ▲

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.

Spread ▲

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.

Deposits and Withdrawals ▲

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.

Trading Platform ▲

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.

Conclusion ▲

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.