Libertex Review UK 2022

Once you’re registered with Libertex and start trading, you’ll find numerous markets to trade in, several tools to support you with your trades, and excellent trading support.

For beginners, Libertex has introduced a demo account feature that simulates the experience of their actual trading account. The purpose of the demo account is:

• To make sure traders know the risks associated with trading, and especially in regards to CFDs.
• To enable traders to practice and refine their trading practices.
• And lastly, to ensure traders are comfortable with the trading platform before using it “for reach”.

Everything from the Libertex account opening process to their trading platform and educational courses is designed to suit beginners. On top of that, users have access to an extensive FAQ section if they have any questions. If an answer cannot be found in the FAQ section, the Libertex customer support team is available Mondays to Fridays from 9am to 9pm (GMT +2).

The act of trading, and all of the preparatory work and research that goes into it, is complex enough in and of itself, so we always look for platforms that offer simplicity. In this regard, Libertex perform very well indeed. Where bells and whistles are required in terms of functionality, they are there. Anything else that can be stripped back to enhance the user experience and keep everything straightforward has been removed.

The trading platform allows traders to trade all assets as CFDs. This is beneficial for those who have limited capital because CFD trading enables you to trade without owning the underlying assets. Additionally, trading currencies on CFDs is beneficial because you don’t have to worry about securing the currency in online wallets or having to own large sums of money.

Note: CFDs are highly risky instruments and most suitable for intermediate to expert traders. Most CFD trades end up in a loss, so it’s better to know the risks you may face before jumping into a CFD trade.

75/100

Rating

Libertex Highlights

• Good range of currency pairs
• No hidden fees
• Trade Forex as CFDs

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70.8% of retail investor accounts lose money

Trading fees at Libertex

The average commission you can expect on a popular currency pair can be 0.008%; meanwhile, the commission on currency pairs can range from 0.47% up to 2.5%. Compared to other brokers, the commission fees and spreads on Libertex are quite low.

The best part about trading with Libertex is that they don’t have any hidden charges. You can expect to pay the bare minimum costs that are mentioned on their website and not a penny above that.

The most important aspect of any online broker is the trading platform they offer. Why? Well, simply because if you’re trading digitally, you’ll be spending a fair amount of time on the platform. Keeping that in mind, each of Libertex’s trading platforms is designed using top-notch technology while keeping user experience in mind.

There are three trading platforms to choose from, their in-house built platform named Libertex, the MT4 trading platform, and the MT5 trading platform, which are both built by a third party developer. To help you decide which platform is best for you, here’s an elaboration on each of the platforms to understand who they’re most suitable for.

Libertex should be your go-to option if:

• You’re looking for an award-winning platform.
• You require a platform that offers good accessibility so you can manage your capital on the go.
• You’re interested in accessing 250 trading instruments.

Metatrader4 should be your go-to-option if:

• You want a technically advanced platform.
• You’d like to get analytics and professional insights.

Metatrader5 should be your go-to option if:

• You want a more advanced platform with additional analytical tools.

One of the best things about Libertex is that it offers flexible payment options. Depositing and withdrawing funds is a smooth process.

The deposit options are:

• Bank transfer
• Debit/credit card
• Rapid Transfer
• Neteller
• Skrill
• Trustly
• GiroPay
• Multibanco
• P24
• Sofort
• iDEAL

All of these options allow instant deposits, while bank transfer takes up to 1 business day. Similarly, withdrawing money can easily be done through:

• Bank transfer
• Debit/Credit card
• Skrill
• Neteller
• Rapid transfer
• Multibanco
• P24

Again, withdrawing through bank transfer can take a day; meanwhile, all other options are faster. The minimum deposit required is €100, which is pretty low when compared to other brokers. Libertex also provide a help section explaining how you can fund your account. It doesn’t matter where you are; you can access your funds however and whenever you please, instantly.

+ 5

Keeping in mind that the trading platforms offered by the broker are used in many countries worldwide, they offer customer support in eight different languages, including Dutch, English, German, Greek, French, Italian, Polish, and Spanish.

During our review of Libertex, we found that you can access customer support through live chat, email, and phone. The customer support team is available Monday – Friday, from 9am to 9pm (GMT +2). For help after hours and on weekends, you can find answers in their comprehensive FAQ section where they address almost any query that could arise.

You can expect to receive a response through all customer support modes within a day. The live chat is the most efficient; meanwhile, email and phone are pretty efficient as well. Getting through to a customer support team member isn’t hard as it seems that they’re always on their toes, waiting to solve incoming queries.

Under Indication Investments Ltd, Libertex is regulated by a tier-1 financial authority, Cyprus Securities and Exchange Commission Legislation (Licence No. 164/12). CySEC has numerous rules and regulations in place to ensure the protection of trader’s money.

For instance, Libertex keeps company funds and client’s funds in completely separate accounts. Also, they use tier-1 banks to store clients’ funds because they value the importance of capital security for traders.

On top of that, with Indication Investments Ltd, according to anti-money laundering regulations, you will need to upload documents to prove your identity and residency. They also have encryption methods (128-bit SSL encryption) to protect all data transferred throughout their websites and platforms.

On top of that, they’re also backed by the ICF, The Investor Company Fund, which offers 20k euros in case of bankruptcy. As a beginner or even as an intermediate trader, the safety of a broker is the most important thing to keep an eye out for.