Additionally, it provides access to different kinds of modern financial instruments that traders will find useful. With Libertex, you can conduct an advanced technical analysis of the market and track your open positions easily.
Is Libertex safe?
Libertex is a broker that is supervised and regulated by some of the top commissions in the industry, including the Cyprus Securities and Exchange Commission (CySEC). This means that it adheres to the rules of its regulatory bodies such as providing a negative balance protection policy for traders. Thus, you can trust that trading with the platform is as safe as it could be.
Trading Online with Libertex
Like we mentioned earlier, Libertex has a massive selection of trading assets. It puts on a decent spread for traders, which means that your trade can become profitable within a short period. Impressively, the trading platform has a mobile app that you can download and install on your Android smartphones and tablets and use to trade on the go.
At the time of this review, Libertex has 51 currency pairs that you can trade. This includes the popular ones such as EUR/USD, GBP/USD and USD/JPY as well as emerging markets such as the Mexican Pesos (MLN). When you trade forex with the trading platform, you’ll be able to use up to 1:30 leverage as a retail client and up to 1:600 for professional clients.
If you prefer trading cryptocurrencies, you will be happy to hear that you can choose among Bitcoin and a wide range of altcoins at Libertex. The broker allows crypto traders to use Metatrader 4 as well as its proprietary Libertex platform to trade their desired cryptocurrencies. Besides that, it has zero spread on all forms of trading on its website.
When it comes to trading CFDs, Libertex gives you access to a wide range of instruments. You will be able to choose between index CFDs, cryptocurrency CFDs, commodity CFDs and shares CFDs. The broker’s trading platform is also easy to use, so you will be able to track all your profits and losses in real-time without any issues.
Metals and Other Trading Assets
Aside from trading forex, cryptocurrencies and CFDs, you can also trade Metals at Libertex. This includes gold, silver, copper, platinum and palladium. The broker has a news and forecast section on its website where you can find the latest analysis, as well as market moves. Other trading assets available at Libertex include oil and gas, ETFs and agriculture.
Opening a Libertex Account
So far, we’ve explained the different assets you can trade at Libertex. In this section, we will take you through the process of opening an account with the trading platform so that you can start enjoying the awesome benefits they offer. However, you must be at least 18 years old before you can be allowed to create an account with Libertex.
Can I open an account at Libertex?
Libertex is currently serving across EEA However, it does not accept customers from a few countries such as the USA, Japan, Brazil, North Korea, Quebec of Canada and so on. So long your country is not among the restricted list, you can open a trading account at Libertex without any issues.
What are the different types of accounts?
Generally, there are two different types of accounts you can open at Libertex – demo account and real-money account. If you are opening a real-money account with the trading platform, you will be able to choose whether it is a retail account or professional account. Retail accounts are suitable for traders who trade their own money, while professional accounts are for those who trade for people.
How to open an Account at Libertex?
To create an account with Libertex, you need to first visit the official website of the broker. Here, click on the “Register” button at the top of the website and fill the registration form that pops up. Once you’ve completed the registration, an activation link will be sent to your email address for activating your account. You can then proceed to make your first deposit.
As with most top brokers, Libertex charge traders some fees for its service. This includes both trading and non-trading fees, depending on the financial instrument you are trading. However, these fees are not exorbitant, so you have nothing to worry about. Over the next few subheadings, we will be explaining the fees that Libertex charge traders on its platform.
When trading forex and other financial instruments at the Libertex, you will be charged commissions which vary depending on the asset and the trade. For currency pairs, the commission charged by the broker is usually between 0.47% to 2.5%. However, no spreads are charged and you also do not need to pay any monthly trading fees when using the broker.
Apart from charging commissions on trades, Libertex also charges rollover fees. This is the fee that only applies to traders who want to hold their position overnight and it is charged at 9:00 PM GMT. You should be aware that rolling over a position on an FX pair from Wednesday to Thursday has a rollover interest that is three times bigger than the normal one.
In addition, rolling over a position on CFD instruments over the weekend (Friday to Monday) comes with a tripled rollover rate. To get a full idea of the trading fees that the broker charges, we recommend that you should read its terms and conditions. Alternatively, you can contact the customer support team to enquire about the trading fees charged and know commission changes at Libertex.
Apart from the trading fees, Libertex also charges non-trading fees. Any account with less than €5000 that is inactive for 180 days is charged an inactivity fee. Also, the broker charges a withdrawal fee that is determined by the payment method used. In the next section, we will talk about the deposit and withdrawal methods that this trading platform supports.
Libertex Deposits & withdrawals
There are several popular deposit and withdrawal methods supported by Libertex. With these methods, you’ll have no problem funding or withdrawing money from your trading account. You can use methods like credit/debit cards, e-wallets and so on. A good thing about the broker is that you can make deposits and withdrawals at any time of the day and be confident that it’ll be processed quickly.
Libertex supports Euro as its base currency, and that’s the only currency that customers can choose. However, transactions via bank transfer can be done in EUR GBP, PLN, and CHF. If you can make deposits from other currencies not supported by the broker, it will be automatically converted to Euro, but your financial institution may charge you a currency conversion fee.
What is the minimum deposit at Libertex?
The minimum amount you are permitted to deposit at Libertex is €10 for bank transfer method. If you are using other deposit methods, however, the minimum you can deposit is €100. As for the maximum deposit amount, the broker has set it at €10 000 for most of the payment methods. You can check the Libertex banking page to know all the deposit limits.
Deposit methods and fees
To deposit money into your Libertex live trading account, you can use methods such as Skrill, Mastercard, iDEal, Rapid Transfer, Multibanco, Visa, Sofort, Neteller and so on. Deposit transactions are processed instantly for Skrill and Bank Card, but others can take up to 48 hours. The broker does not charge any fees for processing deposits except for Skrill, which comes with a 1.9% processing fee.
Withdrawal methods and fees
To withdraw money from your Libertex trading account, you can use methods such as Skrill, Credit/Debit Card, Neteller and SEPA Bank Transfer. Aside from withdrawals made via Skrill, the broker charges a fee for processing withdrawal transactions. As for the processing time, withdrawals made using e-wallets are processed within 24 hours, while Bank Transfer can take between 1 to 5 business days.
Libertex wants its customers to enjoy the best trading experience, and this is evident in the customer support provided. It has a team of experts who are dedicated to providing traders with all the help that they need. At the footer of the broker’s website, you will see a contact link that will take you to Libertex’s contact page.
Method of contact & availability
Live chat – Available 24/7
Phone number – +35722025100
Email – [email protected] responds within a business day
There is a comprehensive FAQ section on the broker’s website, along with several other educational materials. If you have any questions or complaints, you can use the live chat option available on the trading platform or send an email to the support team via [email protected] Additionally, you can call the customer support of the broker on +35722025100 to get assistance.
This article has reviewed Libertex extensively. Remember that the broker is regulated by top exchange commissions and it offers a wide range of financial instruments and assets that traders can trade. In addition, don’t forget that the trading platform supports several payment methods and does not charge exorbitant fees. Overall, Libertex is a good broker that traders should consider using.