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Libertex Review
- 350+ Assets
- A+ Mobile App
- Fast Payouts
- Low Deposit
Editors Summary
For those novice traders that are looking for a site to help them get established with Forex trading, Libertex is a reliable choice. With a low minimum deposit requirement, useful educational tools and a demo account, there is much for the new trader to help them with their Forex journey. The customer support is excellent, the site is secure, and you will find everything you need to get the most out of the experience.
Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
Introduction
Trading since 1997, Libertex has over two decades experiences in financial and CFD trading during which time they have received 20 awards from various industry institutions and magazines. They are based in Cyprus and licensed and regulated by CySEC (Cyprus Securities Exchange Commission).
Libertex is the trading name of Indication Investments Ltd and with over 700 staff and operating in 27 countries, and the company now serves over 2 million customers from 110 countries globally. You can choose from almost 50 instruments to trade on their very secure, SSL secured website trading on their proprietary platform.
If you are considering opening an account with Libertex, there are probably many questions that you would like answered. The first being "how do I know if this is the right CFD broker for me?" We take a look in further detail at what this particular broker can bring to your online trading experience with our detailed and comprehensive review.
Account Types
Libertex offers a basic range of accounts, unlike some brokers, which will have various levels depending on the deposits. The accounts offered are the Demo account and the Real account. There is also a Pro version for the more discerning trader.
Demo Account
One of the major requirements for most traders is to be able to try out a platform before committing any funds. While the deposit requirements for a Real account are low, it is still reassuring to be able to open a practice account. You can get familiar with the website and placing trades without risking any funds.
When you open a Libertex demo account, you receive virtual funds of $50,000. The demo platform is available for both desktop and mobile traders so you can try on the go. Opening a demo account is the same as opening a live version, and it is easy to switch between the two at any point during your trading.
Real Account
Opening a Libertex Real account is a very straightforward process. To deposit funds, however, you need to provide more information. A minimum deposit of just $10 is required making this the right choice for those that are new and inexperienced when it comes to CFD trading. It is also worth considering that to open a position you need to deposit at least 10% of your balance, so a recommended deposit of $100 is preferable. You will qualify for an account bonus if you spend $100.
Pro Account
With a Libertex Pro account, traders can take advantage of leverage of up to 1:600. To become a professional trader, you have to provide proof of significant trading experience over the last year. If you have professional financial expertise of a year, you can also apply for a Pro account.
Trade Features And Payouts
When considering which CFD broker to use, there are a few standard features that you are seeking. You want to know what kind of payouts you can expect in the first instance. You also need to consider the leverage, whether there are any stop orders and what sort of platform the broker offers. We take a look at the most common trading features and payouts:
Leverage
The maximum leverage available to you is 1:30. It is only Pro traders that can apply for greater leverage up to 1:600. It should be made clear that leverage increases your exposure and your risk of higher losses so only trade with what you can afford to lose.
Spreads
Unlike most brokers, there are no spreads. Instead, you are charged a commission on your trades. The commissions charged are small and vary depending on the asset that you are trading on. They can also differ during the trade. Discounts are available for more regular traders.
Stop Loss
Libertex offer 'stop loss' and 'take profit' options and give you lessons on the site on how to use them. When you open your trade, select 'stop loss' / 'take profit' and enter the amount of loss that you want. When the trade reaches this point, it will automatically close. Manage your trades when you can't be online by using a combination of stop loss and take profit.
Platform Types
Considered as the world's most popular trading platform, MetaTrader 4 is used by many CFD brokers in connection with their interface. It is a great desktop and web trading platform, which is easy to download and simple to use. Libertex also offers its proprietary platform which is available to download as an app and means you can use both the live and demo platform.
Bonuses And Promotions
Receive a 100% bonus when you deposit anywhere between $100 and $10,000. You should be aware that these funds are not available to withdraw and must be turned over several times before they are eligible for withdrawal.
There are also status levels which mean that, depending on your status level, commission discounts are available. The more you deposit and trade, the higher your status level and the discounts you will receive.
Mobile Trading
Most people now expect a good mobile trading experience as standard and the ability to execute and track their trades on the move. With the Libertex platforms, there is not only a mobile compatible version of the website but also an app to download for both iOS and Android users. Whatever your level of trading or experience, you can enjoy CFD trading on the move.
Download the app first, register your account, practice on the demo and then move to live trades. The app is designed to be simple to use with a clear and concise interface and claims that it is the smartest app on the financial market. For those who prefer to use the MT4 app on either mobile or tablet, you can download your chosen version and connect to your preferred broker.
The customer support is excellent, the site is secure, and you will find everything you need to get the most out of the experience.
Deposits And Withdrawals
To start trading on the real account, you must have deposited cleared funds. You can use a credit or debit card, wire transfer and many forms of an electronic wallet to make the deposit.
Before you can make a withdrawal, you must have verified your identity. There are no charges for deposits, but withdrawal charges will depend on the method used to fund the account. Processing times will also depend on the payment method used.
Special Features
When you arrive on the Libertex home page and scroll down, a beginner's learning course is available. When you click on the link, you will find a range of educational videos designed to help you get familiar with trading.
The fact that the minimum deposit required is only $10 also makes this broker a viable choice for those that are new to CFD trading and the demo account. In conjunction with the educational tools, this means that you can feel comfortable when getting to grips with CFDs.
Customer Support
Unlike many CFD brokers, there is no live chat pop up box with live chat assistants. Instead, you will find that the customer support team are swift to respond by email. You can also contact them via phone in multiple languages.
Should you have specific questions about trading rather than issues, you can check the knowledge base as your first port of call. There is also a question web form available and social media pages, but they are not regularly updated.
We want to help our readers in any way we can, but sometimes it's better to talk directly with your investing site to get the answers you need. For example if you have a specific query about your account you'll need to contact them in person due to security.
Alternatively, if you find that contacting your investing partner isn't working, you can contact us and we will be more than happy to try on your behalf. We have excellent working relationships with many of the sites we list and recommend.
Libertex
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Email:
[email protected]
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Phone:
+35 722 025 100
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Address:
Indication Investments Ltd, Iacovou Tompazi 1, Vashiotis Center, 1st Floor Office 101, Neapoli, Cyprus
Conclusion
For those novice traders that are looking for a site to help them get established with CFD trading, Libertex is a reliable choice. With a low minimum deposit requirement, useful educational tools and a demo account, there is much for the new trader to help them with their CFD journey. The customer support is excellent, the site is secure, and you will find everything you need to get the most out of the experience.
For more experienced traders and professional traders, there are many benefits, including good bonuses and rewards. The site is regulated and secured, so your funds are safe. You will also find the choice of platforms offers everything you need, whether trading from a desktop or on the move. The trading features are very competitive with others in the market, and they are one of the few to offer no spreads. All in all, Libertex has a lot to offer all levels of CFD trader.
Our Review Rating System (More Info)
Frequently Asked Questions
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Is Libertex legit? Will they scam me?
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Licensed and regulated in Cyprus by CySEC, one of the world's most recognisable licensing bodies, the site is secure and your funds are safe.
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Do they have a decent mobile or tablet app?
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Yes, on all levels. Not only do they have a fully mobile optimised website, but they also offer an app for iOS and Android for both of their trading platforms.
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What bonus do they offer for new traders?
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The bonus on offer is a match deposit bonus from a minimum of $100 to a maximum of $10,000. Funds must be traded a specific number of times before eligible for withdrawal.
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Can I start trading on a free demo account?
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There is a free demo account available to new traders and those who want to test something on the practise platform. It is easy to switch between live and demo accounts.
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What's the min deposit and ideal trade amount?
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The minimum deposit requirement is just $10; however, it is better to deposit $100 as can only trade a maximum of 10% of your available balance.
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Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
Shane’s contributions to the site have proven incredibly popular, and he’s been with us since 2014. Having a background as a Money Manager for five different brokers, three of them household names, it’s clear that Shane has the substance to back up the knowledge he shares.
