Independent Review - Libertex
Anyone looking for a solid, trustworthy broker may want to have a look at Libertex. This CFD broker has been around since 1997 and has over 2.9 million clients. Many of them enjoy the flat commissions charged by the broker. These are low, and since they do not change like spreads do traders always know how much their trades will cost. Plus, the broker has two great platforms to choose from and over 250 assets. It is also regulated by the Cyprus Securities and Exchange Commission, which should provide you with some peace of mind.
In the following Libertex review, we will cover everything you need to know to decide whether this trading platform is the right one for you.
With a history spanning 23 years and regulation provided by CySEC, Libertex has grown to be a multinational brand, with clients in over 120 countries around the world. It holds the distinction of being one of the very first online forex brands for retail traders and has grown to over 2.9 million global clients.
Traders can take advantage of CFD trading in more than 250 assets across all the major asset classes, including currencies and cryptocurrencies, indices and individual stocks, and commodities like metals, energies, and agricultural products. Whether you are a beginning trader or a professional you will find the tools you need at Libertex to trade the markets effectively.
With its headquarters in the CFD friendly hub of Cyprus Libertex has received its licensing and regulation from the Cyprus Securities and Exchange Commission (CySEC). This has helped the broker spread even more as it provides clients with protections and more importantly the peace of mind knowing that someone is overseeing the broker and their operations.
The CySEC license, number 164/12, provides further proof of the credibility of this broker with over 2 decades of online service. Regulation means the broker adheres to all the rules and laws put in place to protect CFD traders, such as the segregation of funds. In fact, there are two key safety measures that clients can appreciate:
- Use of separate bank accounts that keep the firm’s operational funds and the clients' fund different.
- Covered by the investor compensation fund that will compensate clients to a set amount upon liquidation of assets or failure to remit clients’ funds.
Further sign of the quality of the broker is exhibited by all the awards won over the years, and by the positive comments found online from current and past clients.
Libertex is somewhat unique in the CFD broker world because they offer just one account type. While there is a Status Level programme that reduces the commissions paid on trades, there is only one base account type.
The only distinguishing feature between traders is their choice of platform – either MetaTrader 4 or the proprietary Libertex platform. Those who wish to partake in the Status levels programme to reduce trading commissions are required to use the Libertex platform. In either case the maximum leverage for retail traders is 1:30 per ESMA rules.
There is also a free demo account available where traders can test out the platform to see how it functions. They can also use this account, which is funded with virtual money, to test out new strategies without risking real money.
The Status levels programme offers discounts to the already competitive commission costs at Libertex. The highest level, VIP+, offers a 50% reduction for a total lifetime deposit of just €50,000. That means you can build up to that level over time. The next lower level is VIP and it offers a 30% reduction in commissions once a total lifetime deposit amount of €5,000 is reached.
There are over 250 individual assets available to trade at Libertex. These stretch across all the major asset classes. The offerings include 50 different forex pairs and dozens of commodities like crude oil and gold, plus 43 of the most popular cryptocurrencies. Libertex also offers a small range of US stocks and ETFs in addition to 19 global indices.
All these assets are traded as CFDs at Libertex. This means traders are not taking ownership of any of the assets but are simply speculating on the price changes of the underlying assets. CFDs have grown in popularity in recent years and are widely used for speculating on the financial markets.
Libertex keeps things simple for traders by offering just two trading platforms. One is their own proprietary Libertex platform, which can be accessed as a web-based platform or on a mobile device. Users of the Libertex platform qualify for the Status program, which lowers commissions based on lifetime deposits. However, it is not possible to conduct automated trading using the Libertex platform. It is overall a very solid offering, and even won several awards in 2020 for the best trading platform. Traders will also appreciate streaming news and trading signals provided by Trading Central.
Those who prefer the MetaTrader 4 platform will be pleased to find that it is available from Libertex. We are pretty sure that MT4 needs no introduction as it is arguably the most popular trading platform, particularly for forex trading. It fully supports automated trading, and there are literally thousands of add-ons available to customize your charting and trading experience. While Trading Central comes with the Libertex platform it is not clear from the website if the MT4 version also comes with the Trading Central plugin.
Deposits can be made in a number of ways at Libertex, including PayPal, via bank wires, credit/debit cards, and a number of e-wallets like Giropay and Skrill. Processing times for deposits are instant, with the exception of bank wires, which can take up to five business days to be credited to the account. There are no deposit fees for traders as Libertex handles any fees.
In terms of withdrawals there are fewer options, but traders can still use bank wires, credit/debit cards, Neteller, or Skrill. The only free withdrawal option is Skrill, and the other methods incur fees that range from 0.5% to €10. Processing times for withdrawals range from 24 hours to five business days.
Customer service at Libertex is provided in the same methods you have come to expect from CFD brokers, which includes telephone, email, online chat, and via a contact form. There is also a dedicated FAQ support area where most of the basic questions any client might have can be answered. The live support is offered on a 24/5 basis.
Phone: +357 22 025 100
Libertex has entered a multiyear deal with Tottenham Hotspur and Valencia CF as the clubs’ "Official Trading Partner". Libertex and the clubs share a passion for the best for all supporters, fans and traders and are happy to provide the best perks money cannot buy, such as attending matches as VIP guests, exclusive stadium events with players and club legends, behind-the-scenes stadium tours, signed branded merchandise and many others.
In a universe of CFD brokers that seem so similar, Libertex is taking its own direction in the account types offered, trading platforms, and offering fixed commissions with zero spreads. We can only assume that they are taking this direction based on the 23 years of experience they have gained in the online trading space.
Both experienced and new traders can benefit from the trading conditions at Libertex, and those who take advantage of the proprietary Libertex platform can also benefit from greatly reduced trading commissions.
One area where Libertex lags behind its competitors is its education center, which provides only online educational lessons and updates occasionally. One can probably overlook this however as there are many places online to get research and trading education.
Overall, we found Libertex to be a solid broker, and with its regulatory status and over two decades of experience we can tell they are trustworthy and reliable.
50,000 EUR on Demo Account
Instruments / Contracts
Bonds, Crypto currencies