Libertex is regulated by CySEC and offers an award-winning, easy-to-navigate dealing platform and news feed, very suitable for new traders.


General

Broker:
Libertex
Company Name:
Libertex
Founded:
2015
Regulator:
CySEC
Platform:
Libertex
Payment Methods:
MasterCard, VISA, Visa Electron, Maestro, Wire, Skrill, QIWI, WebMoney, Neteller
HQ:
Cyprus
Phone Support:
+35722025100
Publicly Listed:
No
Trust Score:
 
4.6/5
91/100

Features

Min. Deposit:
$100
EURUSD Spread:
0 spreads
Average Spread:
Only Comissions
Leverage:
From 1:20 to 1:600
US Clients:
No
Active Clients:
2,2M
Dealing Desk:
Yes
Web Trading:
Yes
Managed Accounts:
No
Withdrawal Process Time:
Up to 5 days
CFDs Offered:
Facebook, Apple, Microsoft, Coca-Cola and many more.
Fees:
Varied(see below for more information)

Pros:

- CySEC regulated
- Well Established
- Own Platform

Cons:

- Only live chat support
- No bonus offer


Libertex Review

Libertex is the brand for the brokerage division and trading platform of Indication Investments Ltd, a part of the Forex Club Group based in the Russian Federation. The company was founded in 1997 and now offers its clients online brokerage services in forex, soft commodities, oil and natural gas, stocks, indexes, and precious metals.

The company currently has 2.2 million clients trading from 27 nations all over the world. Libertex has over 700 employees that work in the company’s offices located in the Russian Federation, Cyprus and Belarus. In addition, the company maintains a unit in St. Vincent and the Grenadines.

Libertex has won 30 international awards, its latest being a 2016 one, when the company was awarded Best Trading Application for the European Union by Global Banking and Finance Review. In addition, Libertex was awarded Best Trading Platform by FinEXPO.

As far as regulation is concerned, Indication Investments Limited has its primary office in Limassol, Cyprus and is registered as a Cyprus Investment Firm or CIF. The company is authorized and regulated by the Cyprus Securities and Exchange Commission or CySEC under license number 164/12. Libertex’s registration number under Cyprus’ Companies Law is HE 251168. Libertex’s physical address is registered as 134 Agia Fylaxeos & Amisou, Anissa Court, 4th Floor, 3087, Limassol, Cyprus.

Libertex complies with the EU’s MiFID or Markets in Financial Instruments Directive and adheres to all local and European regulations due to its CySEC regulation. In addition, Libertex must comply with Law 144(1)/2007 or the Investment Services and Activities and Regulated Markets Law of 2007 of the European Union.

A screenshot of Libertex’s official home page, which is located at www.libertex.com can be seen below:

Libertex Website 

Please note that Libertex does not presently accept U.S. clients. If you live in the United States, you are advised to find another broker.

Deposits and Withdrawals

To make deposits into a Libertex account, funds are accepted through credit and debit cards, bank wire transfers or SEPA transfers. The company accepts other types of deposits at their discretion; nonetheless, the company does not guarantee that all fund transferring methods are available in the customer’s country of origin.

To open a live account at Libertex, an initial minimum deposit of $250 is required, as well as proper identification from the prospective client. Initial and subsequent deposits are generally processed within one day of the transfer clearing the broker’s bank account.

For fund withdrawals, Libertex asks that the client submit their request by 1:00PM CET. The appropriate transfer instructions, as well as the account details of where the funds originated are required to make a withdrawal. The client’s identity is then verified with the valid access codes generated by the withdrawal request.  The client is responsible for all third-party charges for the withdrawal.

Platform & Tools

FeatureLibertex
Virtual Trading(Demo)
Desktop Platform (Windows)
Desktop Platform (Mac)
Web Platform
Social Trading / Copy Trading
Proprietary
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Currenex
ZuluTrade
MirrorTrader
Charting - Drawing Tools(Total)
Charting - Indicators / Studies (Total)
Watchlists
Order Type - Trailing Stop

Libertex offers its clients the company’s own proprietary trading platform. The platform is web-based and is extremely easy to use. Once a live account has been funded, the trader can basically just pick an asset type, choose the amount of money to commit on the trade, and then decide on whether the market will rise or fall. Because of the unique multiplier for each asset and the lack of dealer spreads, variables such as leverage or margin are immaterial in a Libertex trading account, which results in a more efficient execution.

Libertex’s dealing platform also includes a complete technical analysis component. The platform’s technical analysis features include indicators divided into Volatility, Trend and Oscillator groups. In addition, the trading platform comes with an additional section on fundamental analysis and allows the trader to change the time frame of charts from one minute to one month.

Libertex’s trading platform can be seen in the screenshot below:

Libertex Platform

The proprietary trading platform seems to be focused on the mobile market segment lately. MT4 has also popped up in the lineup. Libertex traders can now trade some 43 currency pairs through the platform, making use of more than 100 incorporated trading tools.

MT4 offers NDD (No Dealing Desk) trading, outstanding charting and the complete experience one would expect from the world's top online trading platform. This means full support for Expert Advisors and scores of preinstalled technical indicators.

A trading signal service is also part of the MT4 experience offered by Libertex.

Other than a news section, which seems to be updated regularly with decent material, the broker does not seem eager to provide trading tools outside of the ones incorporated in its trading platforms.

Asset Classes

Libertex features trading in 150 different asset classes, which includes 44 major, minor and exotic currency pairs; metals that include copper, gold, silver, palladium and platinum; premium world stocks including Apple Inc., Microsoft and Google; 17 actively traded stock indexes; cryptocurrencies including Bitcoin, BitcoinCash and Litecoin; and soft commodities such as coffee, cocoa, corn, wheat and soybeans.

Several issues should be considered before deciding on this broker: the first is the fact that a commission based on the monetary value of the trade is charged for every transaction. For example, the company charges a commission of 0.011% to the monetary amount of a EUR/USD trade.   This fee gets compensated for by having deal execution take place at the current mid-market price.

Furthermore, all of Libertex’s tradable assets have different percentage charges, with the lowest commission being for EUR/USD among the major currency pairs. The most expensive commission on currencies is charged for trades in USD/RUB, which has a commission of 0.41% per transaction, while the second highest is EUR/RUB, which is charged at the rate of 0.386%. Commissions for cryptocurrency trades are the highest, with 1.02% on Litecoin, 1.0% on Bitcoin and 0.91% on BitcoinCash.

The second issue concerns the use of a “multiplier”, instead of using a set leverage number such as 200 to 1, for example. Libertex trades can all be leveraged, but the multiplier can vary significantly for the different tradable assets. For example, the highest multiplier in forex is for EUR/USD at 500, while the maximum multiplier for USD/RUB is just 10, which basically means that the two tradable assets have a maximum leverage ratio of 500 to 1 and 10 to 1 respectively.

Libertex only offers one type of live trading account and a demo account. The two account types both feature the company’s award-winning trading platform.

Commission & Fees

The company charges a commission of 0.011% to the monetary amount of a EUR/USD trade.   This fee gets compensated for by having deal execution take place at the current mid-market price.

Furthermore, all of Libertex’s tradable assets have different percentage charges, with the lowest commission being for EUR/USD among the major currency pairs. The most expensive commission on currencies is charged for trades in USD/RUB, which has a commission of 0.41% per transaction, while the second highest is EUR/RUB, which is charged at the rate of 0.386%. Commissions for cryptocurrency trades are the highest, with 1.02% on Litecoin, 1.0% on Bitcoin and 0.91% on BitcoinCash.

There is also a “multiplier”. Instead of using a set leverage number such as 200 to 1, for example. Libertex trades can all be leveraged, but the multiplier can vary significantly for the different tradable assets. For example, the highest multiplier in forex is for EUR/USD at 500, while the maximum multiplier for USD/RUB is just 10, which basically means that the two tradable assets have a maximum leverage ratio of 500 to 1 and 10 to 1 respectively.

The broker also charges a fee on positions kept open overnight. Other than that however, there are no extra fees/commissions charged on the platforms or anything else really...

Research & Education

FeatureLibertex
Daily Market Commentary
Forex News
AutoChartist
Trading Central (Recognia)
Delkos Research
Acuity Trading
Social Sentiment - Currency Pairs
Client Webinars
Client Webinars (Archived)
Videos - Beginner Trading Videos
Economic Calendar
Calendar Includes Forexcasts
Economic News Sentiment
Trade Ideas - Backtesting

Libertex's education section is not impressive at all. In fact, we are quite certain that it features only five lessons, with videos attached, covering some of the most basic concepts of trading.

- The first of these lessons deals with trading in general. It is a sort of introductory piece to online trading in general.

- The second one is about using Libertex's proprietary platform. As such, this piece detail how one can open a trade through the platform.

- Third lesson deals with multipliers, which are Libertex's own take on leverage.

- The fourth lesson introduces the concept of the Stop Loss.

- The fifth deals with Take Profits.

Past that point, the system requires traders to register an account. Once they register, they are whisked straight to the web-based Libertex trading platform, where they can put their meager skills and knowledge to the test.

As education sections go these days, Libertex's approach to the issue is something of a letdown.

Customer Service

Libertex’s customer support used to be limited to a live chat button on their website. There is now an email address as well as a phone number traders can use to contact support. The email address is info@libertex.com. The phone number is: +357 22 025 100. 

Mobile Trading

FeatureLibertex
Android App
Apple App
Charting - Draw Trend Lines
Charting - Can Turn Horizontally
Charting - Technical Studies/Indicators
Watchlist - Syncing
Trading - Forex
Trading - CFDs
Alerts - Basic Fields

Whether or not the MT4 platform featured by Libertex is available in a mobile version is unclear. Apparently, it is not.

Instead of this tried and tested solution, the broker has opted for featuring its own proprietary trading platform in mobile versions for Android and iOS devices.

The mobile platform looks good and about the same for Android as well as iOS. It has earned a more than decent 4.4/5 rating at Google Play. For a while, the Android app had some issues with crashing, but these have apparently been sorted out.

The mobile app provides access to all the tradable assets supported by the broker. It too seems focused on cryptocurrencies.

Conclusion

Opening an account with Libertex has several advantages, including the company’s oversight by CySEC, which helps ensure client fund safety and segregation. Another plus is the company’s award-winning dealing platform, which is easy to navigate and includes an excellent news feed, making it a wise choice for new traders. In addition, the company limits its client’s risk exposure.

The disadvantages that you may find with this online forex broker include its almost non-existent customer service, which appears limited to a live chat button, and its lack of support for MetaTrader4. Other possible issues are its fixed commission schedule along with the use of a multiplier, which could be considered either advantages or disadvantages, depending on the trader.

James West

Editor

Having started his online career back in 2005, over the years, James has written for scores of websites, covering online poker, eSports, Forex trading, binary options, and digital ledger technology...continued

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