Company DetailsTrading PlatformAssets/MarketsSpreads & CommissionLeverageMobile AppsPayment MethodsDemo AccountDeals & PromotionsRegulation & LicensingAdditional FeaturesAccount TypesBenefitsDrawbacksTrading HoursContact Details/Customer SupportSafety and SecurityOverall Libertex Review VerdictAccepted CountriesAlternatives to Libertex
Libertex is a popular online forex and CFD broker which operates out of Limassol, Cyprus. This review is designed to provide details about the services offered by Libertex, including the account types on offer, the features of its trading app, and whether it is possible to practice trading with a demo account. The review will also list key comparison data (such as minimum deposit amounts, minimum trade amounts and commission among others). If you would like to know more about Libertex, read on.
Company Details
Libertex is the trading arm of Indication Investments Ltd, which itself forms a part of the Libertex Group.
The brand has been in operation since 1997, and currently serves over 2.2 million clients across 11 different countries.
With over 30 industry awards to its name, Libertex is certainly a trustworthy platform to trade from. As a market making broker, Libertex takes the other side of the trade from you, and only charges commission as opposed to spreads.
As a fully regulated online broker with over 20 years in the industry, it is fair to say that Libertex is a strong and reliable brand. With over 200 assets to choose from, it’s the perfect choice for those who want to trade across a variety of different industries.
Trading Platform
Libertex provides users with access to its own unique trading platform. It is completely web-based, and no downloads are required.
The Libertex platform runs reliably and smoothly in any web browser, complete with a simple interface to facilitate trading.
The platform executes trades quickly and provides a stable services.
While a lot of brokers make use of existing platforms (such as cTrader), Libertex has put the effort in to design an interface with user experience in mind. It’s a site which can be customised and tailored precisely to the needs of the trader.
However, they have also integrated their service with Metatrader. So, in addition to their own bespoke platform, clients can also use either MetaTrader 4 (MT4) or MetaTrader 5 (MT5), two well-established trading platforms that offer a wide range of functionalities and features.
Assets/Markets
Libertex provides its users with the potential to trade across the following markets. However, it is worth pointing that the instruments available to you will vary dependent on your country of residence:
50+ currency pairs
100 stocks
50+ cryptocurrencies
5 metals
18 indices
6 agricultural assets
5 oil/gas instruments
10 ETFs
Spreads & Commission
Libertex apply tight spreads across all trading instruments.
Spreads vary by asset and market, but Libertex remain competitive across most trades. And importantly, there are zero crypto CFD trading fees.
Fees
Libertex does not apply fees. The minimum deposit is €100.
Deposits and withdrawals are free, so there are no hidden costs
Leverage
Leverage rates on Libertex can change dependent on the trades considered by the user. The maximum leverage rate is 1:30. This level is generally considered an industry standard across all European regulated brokers and applies to most forex pairs.
Mobile Apps
The Libertex platform can be accessed via dedicated mobile apps for iOS and Android devices. These can be downloaded via the Apple App store and Google Play Store respectively.
Alternatively, users may wish to install the app direct from the Libertex website. Both Android and iOS apps are regularly updated for security purposes and to enhance the features.
The fact that the Libertex app has high ratings in both iOS and Android stores is proof positive that it has been well-designed and functions well across all operating systems.
From a design perspective, the app is clear and reliable, with full market access, the ability to pre-order, a stop loss feature, live quotes and profit taking.
Technical analyses are available, along with recommendations and trading signals to assist mobile traders. News stories from the biggest financial news sites are delivered direct within the app.
One innovative feature of the Libertex app is the ability to switch from demo mode to a real account with a single tap onscreen.
Traders can fund their account via the app too.
Payment Methods
Libertex allows traders to fund their accounts via several different methods. Regardless of where you are in the world, you should be able to find a method that suits you.
Deposits
Deposits can be made on Libertex via the following methods:
Bank transfer
Debit/credit card
Skrill
Neteller
Sofort
Trustly
GiroPay
iDEAL
Multibanco
P24
Rapid Transfer
Most payment methods are processed in an instant. However, bank transfers could take several hours on occasion. Users may be charged €1 for some deposit methods. The minimum deposit for a real account is €20.
Withdrawals
Some payment methods (such as Sofort, Trustly, Multibanco, GiroPay and iDEAL) can only be used to fund the account.
Users who deposit funds using any of these services are required to withdraw funds via another method. For more information, we recommend reading the Libertex terms and conditions.
Demo Account
Libertex provides its users with access to a demonstration account. This allows clients to hone their trading skills and investigate how the Libertex platform works before they decide to deposit any real funds.
Libertex demo accounts come with €50,000 in virtual money to trade with. Demo accounts can be accessed via web and mobile apps.
The Libertex demo account is useful because it allows new users to find out whether the platform is suited to their trading style.
When signing up for a demo account, users also sign up for a real account (although they will be unable to access the real account without first making a deposit).
It is easy to switch between demo mode and real mode on the Libertex website/within the app, allowing users to take advantage of rapidly changing market situations.
Deals & Promotions
Libertex is not currently offering any offers, in line with the EU (ESMA) regulatory guidelines.
Regulation & Licensing
Libertex is regulated and authorised by CySEC (the Cyprus Securities & Exchange Commission).
CySEC is a trusted government authority which audits the ability of companies to provide fair trading and financial services. The fact that Libertex has been granted a licence to trade from CySEC means that the company can be fully trusted.
Additional Features
The Libertex platform also comes with a range of features including charts, timeframes and indicators which are useful during technical analysis of the markets. There is a choice of 16 languages to display information in, making Libertex applicable for traders all around the world.
There are 9 timeframes to choose from, ranging from one minute to one month. 43 indicators are on offer, including 22 trend indicators, 8 volatility indicators and 13 oscillators.
Users can use the Order Management feature to look at live quotes for every available instrument.
A favourites list can be customised to only include your most frequently traded assets.
This is useful for effectively managing price movements on regular trades. From the same area of the site, users can look at their order history, wallet balance and pending orders.
A Live Trades section announces the trading activities of other traders on the Libertex platform. This is particularly handy for those who want to keep an eye on trends or perhaps mirror the trading decisions of others.
MetaTrader 4 platform
Account Types
Libertex offer a Real Account and Demo Account.
Benefits
Lots of technical analysis tools
Good Platform design
Fast withdrawals
Live quotes
Trade on over 200 instruments
Great customer service
Fully regulated broker
20+ years’ experience
Drawbacks
No MetaTrader 4 or MetaTrader 5 support
Poor education section
Charges for some deposit/withdrawal methods
Trading Hours
The Libertex platform can be accessed via web or app 24/7, 365 days a year.
While it is possible to trade at any time, it’s worth pointing out that markets aren’t necessarily open 24/7! While you’re free to log in whenever you like, trading is limited by the hours the markets you wish to trade on are open.
Let’s take the forex market as an example. The New York forex market is open between 9am and 5pm GMT. The London forex market is open between 3am and midday GMT.
The Toyko market opens between 7pm and 4am GMT. There will always be opportunities to trade, although your trading options are time-restricted – especially if you only want to trade on a certain market.
Contact Details/Customer Support
Libertex customer support is available in 9 different languages. While there is no live chat option available, the customer service team will generally provide you with a reply to your query within an hour.
Contact details are as follows:
Email: help@libertex.com
Phone: +35722 025100
Safety and Security
Libertex has implemented client fund segregation, which means that in the event of the firm suffering financial difficulties, traders can rest assured that their funds are held separately and protected under the Cyprus Securities & Exchange Commission legislation.
In addition to this, Libertex is also a contributor to the ICF (Investor Compensation Fund) which covers trader deposits up to €20,000 in the event of insolvency.
In addition to protecting funds, Libertex makes use of 128-bit SSL (Secure Socket Layer) encryption, providing users with peace of mind that their personal data cannot be compromised.
Android and iOS apps are also regularly updated for security purposes.
Overall Libertex Review Verdict
As one of the world’s most established online brokers, it should come as no surprise that Libertex has a lot to offer newcomers, casual traders and experienced professionals alike.
Commission levels are attractive, and a unique platform full of features helps clients to make the right trades.
While Libertex might lack certain educational tools, it makes up for this with a streamlined interface that facilitates rapid trades – and that’s more than enough reason to open an account today.
Accepted Countries
Libertex accept clients only from European Nations
Alternatives to Libertex
If you are looking for alternatives to Libertex we have compiled a list of the top 5 brokers that are similar to Libertex below. This list of brokers like Libertex is in order of similarity and only includes companies that accept traders from your location.
Capital.com – Capital.com offer CFDs and Forex on a huge range of assets, with competitive spreads and unique platforms, including the fully functional mobile app.
TMGM – TMGM is a competitive Australian forex and CFD broker with a wide range of instruments, features and tools provided at low-cost
FXOpen – FXOpen is a highly regulated FX & CFD broker offering multiple trading platforms.
Pepperstone – Pepperstone offers CFD trading to both retail and professional traders. Clients can trade FX, indices, commodities and shares on MT4, MT5 and cTrader platforms.
TP Global FX – TP Global FX offers a long list of popular financial assets with spreads from 0.1 pips. With a focus on innovation and transparency, they are a growing brand.