Editor’s Verdict
Libertex is a broker based in Cyprus and is a member of Libertex Group, operating since 1997. Libertex is a regulated Broker by Cyprus Securities and Exchange Commission, with CySEC license 164/12, and uses its Libertex trading platform with more than 2.2M customers in different countries. I conducted a review of this broker to determine its trading conditions. Should you trust Libertex?
Overview
A CySEC-licensed CFD Broker with Commission-Free Cryptocurrency CFD Trading
Saint Vincent and the Grenadines FSA 1997 Market Maker 50$ MetaTrader 4, MetaTrader 5, Web-based 85.9% Not applicable 0.1 pips 0.0003% 17(bank wires, credit/debit cards, PayPal, Sofort, iDeal, Trustly, Paysafe Card, Skrill, Giro Pay, SEPA, Jeton, Multibanco, P24, Blik, Rapid, eService, Neteller, and Teleingreso.)
I like the cryptocurrency CFDs selection and the competitive commission-free trading crypto CFDs environment at Libertex. Beginner traders get educational materials, and I recommend they consider them.
Libertex Regulation and Security
I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database.
Country of the Regulator | Name of the Regulator | Regulatory License Number |
|---|---|---|
Cyprus | Cyprus Securities and Exchange Commission | License Number 164/12 |
Is Libertex Legit and Safe?
Libertex segregates client deposits from corporate funds and offering negative balance protection. It complies with the Financial Instruments Directive 2014/65/EU or MiFID II and the EU 5th Anti-Money Laundering Directive.
The Libertex platform has over 2.2 million traders from various countries. It has stood the test of time.
Fees
I rank trading costs among the most defining aspects when evaluating an exchange, as they directly impact profitability. Libertex offers Forex spreads from 0.1 pips or $1.00 per standard lot. Minimum CFD commissions are 0.0003%, and cryptocurrency CFDs remain commission-free.
Minimum Raw Spreads | Not applicable |
|---|---|
Minimum Standard Spreads | 0.1 pips |
Minimum Commission for Forex | 0.0003% |
Deposit Fee | |
Withdrawal Fee |
One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.
MT4/MT5 traders can access swap rates from their platform by following these steps:
1. Right-click on the desired symbol in the Market Watch window and select Specification.
2. Scroll down until you see Swap Long and Swap Short.
Range of Assets
Libertex offers CFDs on 50 currency pairs, 73 cryptocurrency pairs, 17 commodities, 26 indices, 132 equity, and ten ETFs. The underlying assets selection is typical, except for cryptocurrencies CFDs, where Libertex ranks among the top 20 in the industry. It also features a commission-free investment account ideal for long-term investors seeking to build dividend-paying portfolios via share purchases.
Commodities | |
|---|---|
Crude Oil | |
Gold | |
Metals | |
Equity Indices | |
Stocks | |
ETFs |
Libertex Leverage
Libertex grants maximum leverage up to 1:30, which I find competitive for active traders, as it expands the flexibility of traders. Negative balance protection exists, an essential tool for leveraged trading.
Libertex Trading Hours
You can trade CFDs 24/7 with Libertex.
I recommend the following step for MT4/MT5 traders to access trading hours:
1. Right-click on the desired symbol in the Market Watch window and select Specification.
2. Scroll down until you see Sessions.
Account Types
I like that Libertex treats all traders equally. Each one gets the same account type and trading conditions, and there is no upgrade for more substantial deposits. Note that the minimum deposit is only EUR 100.
Libertex Demo Account
Traders may open a demo account directly from the MT4/MT5 trading platforms, and I did not find a time limit or any other restrictions, which is good.
Trading Platforms
Traders can use the MT4/MT5 trading platforms or Libertex Platform, web-based and mobile alternatives. Unfortunately, Libertex does not offer any add-ons for MT4/MT5. MT4 remains the market leader for algorithmic trading, and MT4/MT5 has an integrated copy trading system. The Libertex trading platform features a user-friendly interface. I like the information provided for each underlying asset.
Overview of Trading Platforms
MT4 | |
|---|---|
MT5 | |
cTrader | |
Proprietary Platform | |
Automated Trading | |
Guaranteed Stop Loss | |
Scalping | |
Hedging | |
OCO Orders | |
Interest on Margin |
Unique Features
I want to single out the competitive commission-free pricing for the crypto CFDs environment and the cryptocurrency CFDs selection at Libertex.
Research and Education
Libertex introduced a research and market reviews section but only has three articles. At the time this review was written, no research. Given the abundance of free and paid-for providers online, I do not consider the absence a negative, but it is provided by many competitors.
Beginner traders get written educational content, usually published on the Libertex blog. Libertex hosted webinars, but the last one was two years ago, and regrettably, it does not grant access to past ones. I recommend beginners seek their education from trusted third-party sources available online free of charge.
Customer Support
Customer Support Methods |  |
|---|---|
Support Hours | Monday to Friday 9-19 |
Website Languages |     |
Customer support is available via e-mail and phone. The FAQ section answers a range of questions, and Libertex states its response time as one business day for e-mail queries. A separate help and support section exists, but the separation from the FAQ section is not ideal. A direct line to the finance department would be an improvement.
Bonuses and Promotions
Libertex neither offers bonuses nor hosts promotions, which CySEC has prohibited since 2018. Libertex maintains a CPA-based affiliate program.
Awards
Libertex has received 40+ industry awards from well-respected sources. They are a statement of the ongoing efforts by Libertex to maintain a competitive edge for its clients.
Highlighted awards:
- Best Trading Platform - World Finance 2020
- Best FX Broker Europe - FX Report Awards 2020
- Best Trading Platform - FX Report Awards 2020
- Best Trading Platform - European CEO Awards 2020
- Most Trusted Broker Europe - Ultimate FinTech Awards 2021
- Best FX Broker - European CEO Awards 2021
- Best Trading Platform - FX Report Awards 2021
- Best CFD Broker Europe - Global Brands Magazine 2022
Opening an Account
Opening an account at Libertex requires only a valid e-mail. This grants access to the back office, where traders must confirm their e-mail, phone number, and trading account. Traders must send a copy of their ID and one proof of residency document to pass AML/KYC regulations.
CySEC introduced an unnecessary questionnaire, which serves no other purpose than collecting data. There is no verification of responses necessary, and traders may answer at will, making it a nuisance and granting the regulator a good feeling about the regulatory environment. This is a regulatory requirement and nothing to do with Libertex.
Minimum Deposit
The minimum deposit at Libertex is only €100. I like the flexibility Libertex grants traders when constructing their deposit and portfolio-building strategies.
Payment Methods
Libertex accepts bank wires, credit/debit cards, PayPal, Sofort, iDeal, Trustly, Paysafe Card, Skrill, Giro Pay, SEPA, Jeton, Multibanco, P24, Blik, Rapid, eService, Neteller, and Teleingreso.
Accepted Countries
Libertex caters to most international traders but does not accept clients resident in the USA or the UK.
Deposits and Withdrawals
The secure Libertex back office handles all financial transactions.
Libertex does not charge internal deposit fees, but applies withdrawal costs on several payment processors, and traders should also consider any applicable third-party charges. The minimum deposit required to open an account is €100. Processing times vary from instant to five business days, payment processor dependent.
Only verified accounts may request withdrawals, and they must revert to the deposit method, with any access available via bank wires. Not all options are available to every trader, dependent on their geographic location.
Is Libertex a good broker?
I like the trading experience at Libertex due to its competitive, commission-free trading costs for Crypto CFD trading and its superb cryptocurrency CFDs selection. It is a CySEC regulated broker with a great reputation and years of experience working in a range of different countries.
FAQs
How do I withdraw from Libertex?
The back-office handles withdrawal requests at Libertex, including Skrill and PayPal.
Is Libertex legal?
Libertex is duly registered and operates with a CySEC license.
Is Libertex reputable?
Yes, they have years of experience, a long regulatory record, and are a member of the Libertex Group established in 1997.