There was a time in the 1980s when the infamous trading floor was considered the playground for the wealthy. These days, it’s accessible to anyone with an internet connection.
In fact, in the year 2020, there are estimated to be nearly 10 million people actively trading on the internet. This is great news for online broker firms.
Today we’re going to review the hugely popular Libertex trading platform. There are over 200 CFD instruments on this site and the broker has won 30 awards internationally – including ‘Best Trading Platform’!
We’ll start with a little bit of background information on the company, before moving onto what you can trade and what fees you should expect to pay. By the end of reading our Libertex review in full, you should be able to make an informed decision as to whether or not the broker is right for your personal trading needs.
Table of Content
What is Libertex?
As we touched on, Libertex has won multiple awards including ‘Best Trading Platform of 2020’. The broker has been providing trading services since 1997, hosting over 2.2 million clients from a variety of countries. The platform is fully licenced and regulated by CySEC.
In terms of tradable instruments, Libertex specialises in CFDs. Not only does this come in the form of cryptocurrencies – but also ETFs, stocks, forex, metals, agriculture, indices, oil and gas. Well cover tradable instruments in more detail later on.
Crucially, Libertex is one of only a few brokers in the online space charging zero spreads to its clients. Instead, it solely charges commissions. We will go into a little more detail on commissions you can expect later in this Libertex review.
What can I Trade at Libertex?
As we said Libertex focuses on CFDs – meaning there are hundreds of tradable assets on this platform. Some of the most popular include indices like the Dow Jones and DAX, alongside commodities such as Brent Crude oil.
Below you will find a full break down of what assets you can trade at Libertex.
As we expected, the most traded forex on the site are GBP/USD and EUR/USD. However, there are heaps more currencies on offer, which we have listed below.
- Exotic pairs include CHF/SGD, EUR/CNH, USD/DKK, EUR/NOK, GBP/SEK, EUR/RUB, you will also find currencies like the South African rand (ZAR) Mexican peso (MXN)
- Major pairs on offer via Libertex are EUR/USD, AUD/USD, GBP/USD, NZD/USD, USD/CAD, USD/CHF, and USD/JPY
- Cross pairs available are AUD/CAD, AUD/JPY, AUD/CHF, CAD/CHF, GBP/AUD, GBP/NZD, GBP/CAD and heaps more
Retail clients on Libertex can trade CFD forex pairs with leverage of up to 1:30. This can be achieved via MT4 or the Libertex app.
Stocks and Shares
Trading stock CFDs via Libertex means that you can buy and sell share positions without owning the asset. Instead, you’re merely guessing whether the shares will rise or fall. On the subject of stocks, there are more than 50 to choose from on this platform.
We couldn’t possibly list every single one, so we’ve listed available categories, along with a few examples of each:
- Consumer goods: Coca Cola, Nike, Adidas AG and Proctor and Gamble
- Technologies: Netflix, Spotify, Dropbox, China Mobile, Vodaphone
- Luxury: Estée Lauder, Michael Kors Holdings, Ralph Lauren, Tiffany & Co
- Industrials: Boeing, Caterpillar
- Finance: American Express, Goldman Sachs Group, JPMorgan Chase & Co, MasterCard
- Automobile industries: Harley Davidson, Ferrari, Ford Motor
- Energy: Electricite de France (EDF), Enel Chile S.A., PetroChina
- Telecommunications: Apple, Amazon, Hewlett-Packard, Pinterest, Microsoft, Twitter
- Healthcare: Aurora Cannabis, Johnson&Johnson, UnitedHealth Group
- Materials stocks: such as Sociedad Quimica y Minera de Chile (makes fertiliser and chemicals)
For football fans, there’s Juventus Football Club SPA which offers maximum leverage of 1:600 professional clients. The minimum volume on Stock CFD trades must be no less than 20 Euro.
On the subject of indices, there is a variety to get involved with – European and American economies, stretching as far as Asia, and the Israel 35 in the Middle East.
Let’s have a look at some of the indices you are able to invest in at Libertex.
- If you’re interested in North American markets you will find the usual big players such as Dow Jones, S&P 500, NASDAQ 100, Russell 2000, to name a few.
- When it comes to European indices you can invest in DAX, Spain 35, FTSE 100, Italy 40, Russia50 Index and more.
- The Asia offerings are China A50, Nikkei 225 and Hang Seng Index, and in South America, we have the Chile Index.
With regards to commodities on this platform you can trade the following instruments using CFDs:
- Brent crude oil
- Heating oil
- Light sweet crude oil
- WTI crude oil.
- Metals such as gold and copper
Crypto CFD trading on Libertex is really easy. The broker offers a wide range of cryptocurrencies from Bitcoin to Chainlink.
We have put together a list of just some of the tradable crypto coins so that you know what you will have access to on the platform:
- Bitcoin Cash/USD
- Bitcoin Gold/USD
- Bitcoin Cash/Bitcoin (cross pair)
- Litecoin/Bitcoin (cross pair)
- Bitcoin/EUR (cross pair)
- Ethereum/Bitcoin (cross pair)
- Ethereum Classic/USD
- Monero/Bitcoin (cross pair)
- EOS/Ethereum (cross pair)
There are heaps more crypto trading options at Libertex, and as we’ve said, there are no spreads to worry about either.
For those who don’t know – an ETF (Exchange Traded Fund) usually involves tracking the underlying index of a selection of securities, using a variety of industries or multiple strategies.
Here is an example of ETFs available at the platform – which again, can be traded via the MT4 application or Libertex app:
- iShares Core U.S. Aggregate Bond ETF is made up of 27% Corporate bonds, 28% Mortgage securities, and 45% government bonds
- That same ETF is also geographically varied like so: 1% Canada, 6% Germany, Mexico, the Netherlands, Japan, Australia, Ireland, Colombia, and 93% USA.
Take note, you will be ‘trading’ the above ETF via CFDs – like all financial markets at Libertex.
When it comes to fees, each and every broker will differ. With that in mind, it’s important to always conduct your own research before signing up for a new broker account.
To save you some legwork we’ve taken a look at the commissions, spreads and any extra fees you may have to pay at Libertex.
Commissions and Spreads
As we touched on earlier, Libertex is one of the few brokers to scrap spreads entirely and only charge commissions on trades. Let’s walk through some of the commission fees on this platform.
The commission you will be charged will differ depending on the specific asset or trade. Commissions on popular currency pairs such as GBP/USD, for instance, tend to be around 0.008%.
Here is an example of how this commission would look:
- Let’s say you want to trade GBP/USD
- You risk $1,000 on the trade
- The broker charges 0.008%
- The fee for the trade would be $0.08
When it comes to stocks, the commission stands at somewhere between 0.1% -0.2%. In terms of crypto pairs on this platform, trading fees usually start at around 0.47%, going up to 2.5% on less liquid markets. This is usually the case with crypto cross pairs.
As far as commission fees are concerned, you should always make a point of studying what is payable on your preferred market before placing a trade. This is going to give you valuable insight into what your potential profit/loss margins might amount to.
Libertex charges no monthly fee for its service, and zero spreads – but of course, the broker still needs to make money. With that in mind, we are going to delve into a few other fees to look out for on the broker site.
First up – if you have an account balance of $10,000 or less – after 180 days of inactivity the CFD broker will charge an ‘inactivity fee’. Inactivity fees are pretty standard in this industry and some companies charge this fee after just 30 days.
Moving on to overnight fees/swap interest, this fee is charged on any positions left open at the end of the trading day. In terms of CFD instruments, this fee will triple if you happen to roll a position over across the weekend.
Trading Platform Compatibility
Not all brokers are compatible with third-party trading tools and platforms. Fortunately, we are pleased to report that not only is the Libertex compatible with the hugely popular MT4 – but the broker also has it’s very own proprietary platform and app.
Here is a little more information about these useful tools and platforms.
The vast majority of seasoned traders have used MT4 at some point. This Libertex-compatible trading platform is packed to the rafters with useful trading tools, charts and analysis. Trading via MT4, traders can use more than one account, and even passively by using trading robots.
We’ve listed just some of the best features for you to take advantage of on when using MT4 to trade at Libertex:
- Helpful trend indicators like The Moving Average Convergence Divergence (MACD), Bollinger Bands, Exponential Moving Average (EMA), Ichimoku and heaps more
- Trading tools including but not limited to Orders Indicator, Xandra Summary, Undock Chart, SHI Channel True, Position Size Calculator, SL & TP values, Breakout Zones,, Autofibo, i-Profit Tracker, NewsCal, and plenty more
- Order options: market order, buy stop, sell stop, sell limit, buy limit, buy by market and sell by market.
Take note, MT4 is available via desktop software and even a fully-fledged mobile app. Regarding the latter, this allows you to keep tabs on how your automated trading robot is performing – no matter where you are!
Much like on the Libertex website, the minimum trade volume on the Libertex app is generally 10 units in your currency ($10, £10, etc). With that said, stock CFDs are slightly higher at 20 units.
There are heaps in the way of technical indicators, financial news and trading signals on the Libertex app. Traders are able to download the app via Google Play for Android or the Apple App Store. Alternatively, you can download the app directly from the Libertex website.
The official application is rated highly by users, most of which compliment the app for its user-friendly design and helpful functions. From the palm of your hand, you can execute orders, gain access to live quotations, deposit/withdraw – and more.
Trading and Educational Tools
Libertex shines when it comes to educational material. As a client, you will have access to webinars, a plethora of detailed educational videos and financial news and signals.
In addition to the video content, there are nearly 30 different trading lessons surrounding various assets – and don’t forget that free demo account including 50,000 demo dollars.
The maximum trading leverage for retail clients is 1:30. This is the capped leverage on most regulated broker platforms. This is due to ESMA securities regulations. Consequently, this is standard practice across Europe.
If you are a professional client you can access leverage up a whopping 1:600. However, in order to qualify for this type of account, you will need to provide a bit of trading history and some more detailed financial information.
Deposits and Withdrawals
There are heaps of payment methods available on this broker site but you will need to check what’s available depending on your country of residence.
Below we have listed all payment methods available for both deposits and withdrawals in the UK. When you have deposited funds into your account you will be given the appropriate account level.
Take a look at your payment options below.
- Credit/Debit card
- Bank Wire
Deposits are free at Libertex and the processing time when funding your account is instant. However, if you deposit via SEPA/international bank wire it could take between 3 and 5 days to reach your account. This processing time will obviously delay your trading plans.
In terms of withdrawal charges, there are some variations depending on the method used. Please find below a list of acceptable withdrawal methods, alongside the fee (if any) and processing time.
- Credit Card – Fee €1 – Within 1-5 days
- Neteller – Fee 1% – Within 24 hours
- Skrill – Zero fees – Within 24 hours
- SEPA/International bank wire transfer – 0.5% min 2 EUR, max 10 EUR – Within 3-5 days
Customer Support Team
The Libertex customer support team are available from Monday to Friday – 8 am until 8 pm.
The contact methods available to clients are telephone, email, letter, and an in-platform contact form.
There is also an FAQ section available which breaks down help sections into areas such as ‘banking’, ‘trading transactions’ and ‘trading conditions’.
Interestingly, Libertex offers various accounts which are based on your status level and minimum account balance. In a nutshell, when you deposit real money into your trading account you can access whichever status lines up with your balance.
As you can see from our screengrab above, different commission discounts are available depending on your status and deposit amount. In addition to the aforementioned account ‘levels’, clients have access to a free demo account which includes $50,000 in paper demo funds. This demo account is available to everyone.
We think the Libertex demo account is invaluable for newbie traders who aren’t quite ready to risk real money. Besides newbie investors, demo accounts are superb for experienced investors who just want to try out a new strategy before diving into the live market.
How to Open a Trading Account with Libertex
Signing up for an account with Libertex is super simple. But, to get you started, we’ve put together a 3-step walkthrough.
Step 1: Sign up
The first step to signing up is to head over to the Libertex website. Located on the top of the page at the right-hand side you will see ‘login’ – click this and you will be taken to a new page.
Where you see a sign-up box on the right you will need to select ‘sign up’ and enter your email address and a unique password
Step 2: Deposit Into Your Libertex Account
Presuming you have successfully set up your Libertex account, which takes less than a few minutes – you can go ahead and fund your account using one of the accepted deposit methods listed further up this page.
Now you can set up your Libertex interface to suit your trading style. Although the trading platform is not fully customisable, you are able to use different templates and change your leverage settings etc.
Step 3: Start Trading
After you have made a deposit into your account you can start trading! It’s simple to navigate the Libertex website, but we recommend starting with a demo account or a small initial deposit – at least while you find your feet on the platform.
All in all, Libertex offers a good variety of tradable assets on its platform and is one of the very few brokers to offer zero spreads – which is music to any traders’ ears!
In terms of educational content, Libertex is great for beginners. There are webinars, news updates and nearly 30 detailed trading lessons available to clients – accompanied by thorough videos. The company’s in-house trading platform works well, and you can also use MT4 to trade with ease.
Libertex is fully regulated and licenced by the Cyprus Securities and Exchange Commission (CySEC). This means the site is strictly regulated and must adhere to the rules set out by the body in question.
Libertex - CySEC Regulated Forex and CFD Trading Platform
- Trade CFDs and forex on a zero-spread basis
- Super-low trading commissions and no hidden fees
- Regulated by CySEC
- Trade online or via the MT4 platform
Do I need a passport to open a Libertex account?
You will need a photo ID but can also use a driving licence if that’s all you have - as per KYC rules it must be an official ID showing your photograph, name and date of birth.
Am I able to trade cryptocurrencies via Libertex?
Yes, there are a wide range of cyptocurrencies available to trade on this platform - Litecoin, DASH, Bitcoin Cash and Ethereum to name a few.
Is Libertex compatible with MetaTrader4 software?
Yes. You can easily access your Libertex account via MT4, either on the app (Android or iPhone), or through the website. You can also download the MT4 software onto your desktop device and then sign in with your Libertex credentials
Is there a Libertex demo account available?
Yes. Every client is welcome to sign up for a free demo account - this comes with $50,000 in demo funds, and mirrors live market conditions
Is Libertex available to US residents?
Unfortunately US residents cannot trade via Libertex. The reason for this is that Libertex is regulated by CySEC - not the Commodity Futures Trading Commission (CFTC) or U.S. Securities and Exchange Commission (SEC).
What leverage can I trade with on Libertex?
Libertex offers retail clients leverage of up to 1:30, and professional clients leverage up to 1:600.
Is Libertex a legitimate trading platform?
Yes. Libertex is fully regulated by CySEC. This should give you peace of mind that the company submits regular audits, practices customer due diligence and has to adhere to strict rules put in place by the body.