Libertex Broker Review 2024

Libertex is a financial broker regulated by CySEC. Part of the Libertex Group, the company provides 5 tradable markets [Forex, Crypto, Commodities, Stocks, Indices] and 4 live account types [Real, Invest, MT4, MT5] besides a demo.

There are 2 order execution types [Market, Instant.] The maximum available leverage is 1:600 via a professional account.

Libertex Broker; Company Information & Regulation

Libertex is a leading fintech company that has been operating in the global financial markets for over 25 years.

Founded in 1997, the company has grown to serve more than 3 million clients across 120+ countries, solidifying its position as a major player in the online trading industry.

Key points about the broker:

• Part of the Libertex Group;
• Winner of numerous industry awards, including Best CFD Broker Europe in 2022;
• Led by an experienced team of professionals in finance, technology, and marketing;
• Regulated by the Cyprus Securities and Exchange Commission (CySEC).

Specifics Summary

To give you a clear overview of what Libertex offers, here's a summary of the broker's key specifics:

Trading Accounts

Libertex offers a suitable account structure that meets the needs of both novice and experienced traders. Here's what you need to know about the broker's trading accounts:

• Real: used on the Libertex platform, with up to 1:30 leverage
• Invest: suitable for zero commission fee securities trading on the proprietary platform
• MT4, MT5 (for EU residents): used for corresponding platforms
• Demo Account: Before committing real funds, traders can practice their strategies risk-free using Libertex's demo account

Pros And Cons At A Glance

Discussing benefits and drawbacks is critical when reviewing platforms and brokers. So, let's take a quick look at the pros and cons of trading with Libertex:

Sign Up & Verification Guide

You can easily complete your pre-registration phase on Libertex in a few minutes. Here's a step-by-step guide to help you sign up and verify your account:

1. Visit the official webpage and click on the "Sign Up" button at the top of the screen.

2. Enter your email address and create a suitable password. You must also confirm that you're at least 18 years old and agree to Libertex's terms and conditions, privacy policy, and cookie policy.
3. After creating your account, fill in your personal information on the "Profile Management" section, including full name, date of birth, address, and phone number.
4. Verify your email and phone number.

After completing your profile, verify your identity by providing related documents in the "Verification" section.

Platforms & Apps

Various platforms are available for trading on forex brokers, and two of the most popular are MT4 and MT5. Libertex covers these 2 in addition to its proprietary platform:

Proprietary Platform:

• Web-based platform accessible from any browser;
• Mobile app available;
• User-friendly interface with intuitive navigation;
• Real-time quotes and charts;
• One-click trading functionality;
• Plenty of risk management tools;
• Access to a demo account.

MetaTrader 4 (MT4):

• World's most popular trading platform;
• Tight spreads;
• Commissions from 0%;
• Available for Windows, android and iOS.

MetaTrader 5 (MT5):

• Next-generation platform with enhanced features;
• 12 new timeframes;
• 38 built-in technical indicators compared to 30 in MT4;
• Improved backtesting capabilities;
• News feed transformed into economic calendar;
• Available for Windows, mobile, and web;
• Spreads and commissions similar to those on MT4.

Fees & Spreads

Libertex employs a unique pricing model that sets it apart from many other brokers in the industry. In the list below, we have a glance at their fee structure:

• Libertex offers spreads starting from 0.1%;
• Instead of wide spreads, the broker charges a small commission on each trade;
• Commission rates vary depending on the instrument and market conditions;
• Overnight fees, also known as swap rates, apply to positions held open overnight. Rates vary by instrument;
• A small fee may be charged on accounts inactive for an extended period;
• Most deposit methods are free;
• Withdrawals incur a fee except for those made via PayPal or Skrill.

Payment Options

Libertex takes different approaches to deposit methods and withdrawal options. At the list below, you can see the options available for deposit:

• E-payment systems (PayPal, Skrill, Neteller, etc.);
• Credit/debit card (Visa, MasterCard);
• Banking solutions;
• Bank wire transfer.

Available methods for withdrawal:

• E-payment systems (PayPal, Skrill, Neteller);
• Bank wire transfer;
• Credit/debit card (Visa, MasterCard).

Key Points:

• Minimum deposit amounts may vary depending on the payment method;
• The broker does not charge fees for deposits, except with SEPA method;
• Withdrawal requests are typically processed within 24 hours, but actual receipt of funds depends on the payment method;
• The brokerage encourages withdrawals to be made using the same method as the deposit for security reasons.

Copy Trade And Investment Platforms & Options

Libertex offers copy trading services to earn passive income from traders. Here are the key features based on the official website's data:

• Totally passive income
• Solid strategies
• Ability to monitor trades through the account
• Simple, user-friendly process

Tradable Markets And Instruments

Libertex offers a wide variety of assets and instruments available for trading. Here's an overview of the available options:

• Forex (Foreign Exchange): Major currency pairs (e.g., EUR/USD, GBP/USD, USD/JPY), minor and exotic pairs available
• Cryptocurrencies: Large market cap cryptocurrencies like Bitcoin, Ethereum, Litecoin, Solana, etc.
• Stocks: Shares of top global companies such as Tesla, Apple, Nvidia, etc.
• Indices: Major global indices (e.g. Dow Jones, DAX)
• Commodities: Precious metals (Gold, Silver, Platinum), energy products (Crude Oil, Natural Gas, etc.), agricultural commodities (Coffee, Sugar, Wheat, etc. )

Overall, there are over 300 underlying assets available for trading on this broker.

Bonuses & Promotions

Forex brokers offer bonuses and promotions to attract new traders and motivate existing ones.

At the time of writing this article, the Libertex broker does not offer bonuses or promotions, but this might change in the future. So, always check for updates on the official channels and website.

Support Channels & Opening Hours

Libertex offers several different channels for contacting support, but there is a catch: It does not provide services 24/7.

Regarding response time, the website says that it usually takes 1 business day for them to respond to emails. Support channels:

• Email: [info@libertex.com];
• Phone number: +357 22 025 100;
• Live chat: On the website.

Countries Banned From Libertex Services

This broker does not provide services in some regions and countries because of legal procedures. Here are some of the countries restricted from Libertex services:

• United States
• United Kingdom
• Iran
• North Korea
• Russia
• Canada

Libertex Available Tools

Some brokers offer auxiliary trading tools for users. These tools help automate the trading processes. Tools provided by Libertex:

• Auto-Trading;
• ChatGPT-based products on the proprietary platform;
• Economic calendar;
• Quick Take Profit feature.

Trust Scores and Reviews on Reputable Websites

There are websites and platforms with the goal of providing a facility for user or expert ratings. Two of the most reliable are "Trustpilot" and "REVIEWS.io". The broker's ratings on the mentioned platforms:

• Trustpilot User Rating: 4 out of 5 based on over 2,200 reviews; over 55% of the scores are 5-star
• REVIEWS.io User Score: 2.5/5, with more than 90 scores

Educational Materials

In fact, Libertex could perform better in this section. Compared to other brokers, it offers some limited resources for novice traders. Education section overview:

• Lessons in the form of articles for helping beginners get started with trading
• YouTube channel posting webinars on technical and fundamental market analyses
• FAQ section with questions and guides related to the platform

Conclusion And Final Words

Libertex is a financial company with a 4/5 trust score on the "Trustpilot", based on +2,200 reviews. There are 3 trading tools [Auto-trading, Economic Calendar, Quick-Take Profit] offered by the broker.

More than 3 million clients across +120 countries trade with this brokerage.