One of the oldest global forex brokerage brands, Libertex is an award-winning financial service provider offering a wide selection of financial instruments including hot assets, stocks, cryptocurrencies, forex, metals, indexes, agriculture, oil and gas, and ETFs.
Read more from this broker review to know Libertex’ offered services, featured trading tools, pricing, and platforms.
Libertex Background & Safety
Founded in 1997, Libertex has been in the industry for more than two decades serving clients from more than 110 countries across the globe. Based on its official site, the broker is serving 2.2 million clients worldwide, covering 27 countries. As big as its covered jurisdictions, the company employs over 700 employees stationed in its global sites.
The broker currently offers over 200 tradable assets to go along with a variety of high-speed cutting-edge technology platforms for its traders to use. Libertex is operated and owned by Indication Investments Ltd, a registered business entity in Cyprus. It is also licensed and governed by the Cyprus Securities and Exchange Commission.
A duly regulated firm, Libertex ensures the fund safety of its clients as every client is protected with negative balance protection.
Libertex takes pride in its award-winning trading solutions over the years of its brokerage service. The broker has won 30 international awards from financial magazines and institutions for its customer support quality and innovative tech solutions. Just this year, the broker was cited as the “Best Trading Platform” by three award-giving bodies namely, the EuropeanCEO Awards 2020, FX Report Awards 2020, and World Finance. Adding to this is earning the “Best FX Broker, Europe” distinction by FX Report Awards 2020.
Libertex has a special offering aside from forex trading. It has its Forex Trading Affiliate Program, an avenue for any participant to earn extra income Online. To be part of it, you will have to use different online marketing channels to attract new traders to join Libertex. When you get to convince a trader to join Libertex, the broker will give you a commission in return. A lot more other opportunities can be unboxed once you subscribe to the broker’s affiliate program.
Libertex Features & Fees
Market Coverage
With over 200 tradeable instruments to choose from, Libertex covers an array of financial markets including forex, stocks, cryptocurrencies, indices, metals, commodities (agriculture, oil and gas), and ETFs.
Account Types
Libertex only offers one account type. It is referred to as the “real” account. This account utilizes Market Execution as the method of execution of orders, provides access to the Libertex platform, zero spreads, at 0.03% commission rate, at $10 minimum trade volume, and a 200 maximum trading leverage ratio. The account can be deposited with a minimum initial amount of $10.
The account, though, can be classified either as retail or professional. Choosing the professional account, you can enjoy up to a 1:600 leverage level. The retail account, on the other hand, offers only up to 1:30.
Moreover, the “real” account has different status levels, basically based on the amount deposited by the account user. For a deposit amount worth $250, the trader reaches the “Gold Status”. This distinction qualifies the account user to a 3% commission discount. Onto the next level, the “GoldPlus Status” is for traders who deposit no less than $1450 and is entitled to a 4% commission discount.
The “Platinum Status” is for depositors of not less than $1,500. They are rewarded with a 20% commission discount and access to priority withdrawals. Lastly, the “VIP Status” is for account users who deposited at least $5,000 and are eligible to have a 30% commission discount, access to priority withdrawals, and premium customer support.
The broker also has a Demo account to enable traders to test their trading strategies using the Libertex trading platform.
Funding Methods
Libertex offers several payment options to its clients. For deposits, traders can pay through credit/debit cards, eWallets (Skrill, Neteller) banking solutions (Sofort, Giropay, Trustly, iDeal, Przelewy24, Multibanco, Rapid Transfer), bank wire transfer, and vouchers (Teleingreso, Neosurf). Any of these deposit options are free of deposit charges from Libertex.
A smaller range of payment options is made available for withdrawal transactions under Libertex. These include debit/credit cards, Skrill, Neteller, and bank wire transfer.
Promotions
In terms of additional perks, Libertex provides its clients with a compensation bonus of 100% on their first deposit. A minimum of $100 deposit amount is required to qualify for this bonus. The maximum deposit amount for this bonus is $10,000.
Libertex Trading Platforms & Tools
Libertex has its own proprietary trading platform. This platform is recognized internationally as the broker bagged several “Best Trading Platform” awards. This is the Libertex platform. Libertex features all investments (over 200 tradable assets) in one application with zero spreads.
This platform can run smoothly using any type of browser and displays a simple interface. The platform is powered by high-speed execution and customizable features to fit the user’s preferences. Libertex is available on both Android and iOS devices for download.
Aside from its own platform, the broker also offers the industry-standard MetaTrader 4 to cater to traders who prefer the MT4 platform.
Bottom line
There are several advantages of trading with Libertex, but let us focus on five reasons for doing so: (1) it is an authorized and regulated broker; (2) it offers a simple and convenient trading platform, (3) retail clients have leverage of up to 1:30 while professional traders can use up to 1:600 leverage; (4) up to 50% commission discount is given to traders; and lastly, (5) the broker features zero spreads.