Libertex Review

  • Regulated by: CySEC
  • Headquarters: Cyprus
Website : Libertex.com
Established : 2007
Country : Cyprus
U.S. Clients Allowed :

A review on Libertex

Libertex or Liberty Exchange is a brokerage firm that was founded in the year 2015 by Forex Club International Ltd. And Indications investments Ltd. These two companies are subsidiaries of the well know Russian Forex Club Group. The history of the Forex Club Group stretches far back to the year 1997. They operate globally in countries such as Belarus, Russia, Cyprus, and the island of St Vincent and the Grenadines. In the past, they operated mainly within the Commonwealth of Independent States (CIS) but today, they are operating within over 27 different countries around the globe with over 2 million clients. The Libertex trading platform allows its clients to trade on multiple assets classes such as stocks, precious metals, forex, market indices, and energies.

Libertex Regulations

The online Libertex trading platform is licensed and regulated by the Cyprus Securities and Exchange Commission (CYSEC). It operates through the CIF #164/12  which was issued to Indications Investments Ltd. You should, however, be informed that the regulatory oversight offered by CySEC has been getting stricter in recent times. Due to the unregulated nature of the industry, the regulatory oversight offered by CySEC is an important step for Libertex to gain legitimacy. Apart from CySeC, Libertex is also a member of the financial commission (Finacom). Finacom is an independent institution that offers to resolve impartial dispute between traders and brokers. Traders with issues against their brokers can file a complaint with Finacom.

How Reliable Is Libertex?

As was already stated above, Libertex is licensed and regulated by CySEC. In order to be a financial services provider in Cyprus, there are some expected requirements that have to met. This include having substantial funds in operating capital. This is a pre-established requirement under MiFID which governs all financial services providers based in Europe. Libertex is also a member of the Investor Compensation Fund which also attests to Libertex’s reliability. Under this scheme, should there ever come a time where Libertex is unable to pay back its clients, the client can file a claim to be compensated.

How Does Libertex Trading Platform Look like?

Libertex’s platform is web-based. This comes as a good news to some traders as there is no need for them to download and install any trading application in order to trade o the financial market.  The user interface of the platform is fairly simple and easy to use as assets are listed together with their prices on the left side of the trading screen. There are other criteria options to select from the asset selection list. Which includes selection according to their status as popular, top rising and top falling.

Traders can also select the various chart views.

Area Chart, Candlestick Chart, Heiken Ashi Chart, Hollow Candlesticks Chart, Line Chart

Charts are also displayed with different time frames that ranges from a minute to one month. There are also displays of real-time news and market forecast feeds at the lower part of the trading chart. The option for leveraged trading is also available on Libertex trading platform. The platform will definitely appeal to both novice and experienced alike.

Mobile Trading

There is a mobile-friendly version of the platform available. Youcan download the libertex mobile trading application from Google Play Store or Apple Store depending on the operating system of your mobile.

Libertex Trade Instruments

There are six different classes of assets available on the platform. These include commodities, currencies, market indices, metal, oil & gas, and equities. There are also more than 150 different underlying assets to choose from.

Libertex Account Types

There are two fundamental trading accounts on the platform namely, standard trading account and demo trading account. The main difference between the demo account and the standard account is that, demo accounts are free and are used for practice. The demo account comes with a $50,000 virtual money. The unique feature about the demo account is that you can use it on both the web-based platform and mobile platform.

The minimum requirement to open a standard account is $10. Nevertheless, it is highly recommended that you that you deposit a minimum of $100 as your open positions cannot be more than 10% of your trading balance.

Commissions and Spreads

Traders at libertex are required to pay commissions on their executed trades. The name of this commission is “trading fees”.

The commission is levied on every $1000 worth of transaction. For instance, if the trading fee of an asset is $0.05 per $1000 that is traded, then the applicable fee for $10,000 will be $0.50.

You should also take note of the fact that, apart from the amount being invested and the leverage used, the trading fees also varies depending on the type of asset class and asset traded.

InstrumentTrading fee
EUR/GBP0.018%
EUR/USD0.005%
USD/JPY0.004%
USD/CHF 0.001%
EUR/CHF 0.004%
Dow Jones0.011%
Brent Crude Oil0.039%
Natural Gas0.356%
DAX0.005%
Gold0.003%

Deposits and Withdrawals Options

The current methods of making deposits and withdrawals are credit cards and bank wires. Nevertheless, there are alternative methods by means of eWallet such as QIWI, Yandex, and WebMoney.

You should also take note that Libertex charges fees for inactive accounts. By their definition, an inactive account is an account without any trading activity for the past 180 days. Any future attempts made at making withdrawals from an inactive account will be subjected to a 2% surcharge of the withdrawal amount. However, this rule does not apply to accounts with a deposit of more than $10,000.

Customer Support

The website supports six different major languages. These includes Russian, Spanish, English, Malaysian and Indonesian. Unfortunately, at this moment, the only means of contacting the customer support is by live chat. There is no option to access the customer support by telephone or mail. Hopefully, it will be rectified in the near future.

They also provide traders with comprehensive and adequate educational support. They have provided traders with 30 short videos on different trading topics.

Libertex Q&A

Is Libertex regulated?

Yes. Libertex is regulated and authorized by CySEC. It is also a member of Finacom.

Where is libertex situated?

In Cyprus.

How do they make money?

They make money from the commissions that are charged on the trades clients execute.

How do you make deposit and withdrawals?

At the moment, deposit and withdrawal options are bank wire and credit cards.

How do you open an account?

You simply fill out the registration form by providing and submitting all the necessary information required of you.

Does Libertex use Meta Trader?

Unfortunately, the answer is no but they have provided traders with a proprietary easy to use web-based platform

What is Libertex’s Leverage?

At the moment, the maximum leverage is 1:100

Is Libertex a Scam company? Is Libertex safe?

No, it is not a scamming company. They are licensed and regulated by CySEC and complies with all international regulations ass well.

Conclusion

After all that has been said, I believe that most traders will be satisfied with what Libertex has to offer. I believe one major underlying feature that traders look out for inn brokers is security and Libertex can offer that. They also have a wide variety of assets to choose from when trading. They offer education to traders in other to make their traders better. Lastly, their low minimum requirement for account creation makes it possible for everyone to trade on their platform.

 

Libertex Review

Libertex Review
8.5

Easy to use

8.5 /10

Fees

8.5 /10

Support

8.5 /10

Payment

8.5 /10

Pros

  • No spread
  • Well-regulated
  • Unique platform
  • Limited risk exposure

Cons

  • No choice of trading accounts and platforms
  • No MetaTrader 4 or MetaTrader 5 , no EAs
Ricardo Martinez

Ricardo Martinez

Ricardo Martinez has been active in the financial markets for around 10 years. In the early days in his career he was a trader and worked as market analyst in different online brokers advising clients on key decisions of trading instruments in foreign exchange and commodity markets. Ricardo is currently working as independent trader with diversified portfolio over different markets. His writing for LearnMarketonline is part of his commitment to share knowledge with traders.