Libertex Review

Libertex Broker: Review of an exceptional crypto CFD trader

Introduction to Libertex review

Libertex is an online CFD and forex broker who is a part of multinational brand Forex Club Group. Founded in 1997, this European broker has since extended its reach in 27 countries, offering its 2.2 million clients worldwide services in currencies, commodities, stocks, indices, and cryptocurrencies.  

The firm has also earned 30 international awards, with the latest including the Best Crypto-Currencies Broker and the Best Trading App in 2017 and 2018. Its platform features 213 assets available for trading.

When it comes to trading platforms, this broker offers its own proprietary platform, which is accessible through the web or mobile phones (iOS and Android).

Once traders have funded their live Libertex accounts, they can simply select an asset type, the amount of money to commit, and then speculate on a market’s movement.

Libertex Account Types

The Libertex keeps its account types to a minimum. The platform offers a Demo and two live accounts, i.e., the Libertex and Libertex Pro account. The process of switching from a Demo account to a live account and vice versa is easily done as well.

Clients may start trading with Libertex for as low as €10, and the process would only take 5-10 minutes.

Here’s a rundown of each account:

Demo Account

• Web-based and mobile trading available
• Terminal used is the same as where live trading takes place
• Virtual money worth €50,000 will be automatically credited

Libertex Account

• Leverage up to 1:600
• No spread charges
• Commission starts from 0.03%
• $100 minimum transaction amount for all tools
• Marker order execution available
• Mobile (iOS and Android) trading available

Libertex Pro Account

Clients of Libertex with Pro accounts can benefit from not being subjected to the new European leverage restrictions and a maximum leverage of 1:600, although traders must first meet at least two of the following requirements to be able to register for a Pro account.

• Traders must have done at least 10 transactions per quarter, of considerable size, over the last four quarters on the relevant market.
• They need to have a background in the financial industry. At least one year of experience in a job involving financial-related transactions or services.
• The size of the portfolio should be more than €500,000 (including cash savings and financial instruments.

Trading Products at Libertex

The Libertex platform caters to a wide range of trading assets, including currencies, metals, indices, stocks, ETFs, oil and gas, agriculture, as well as cryptocurrencies. All assets use a market execution method. Details of each asset are as follows:

Currencies

• Libertex has a total of 49 currency pairs available for trading, which includes 7 majors, 21 crosses, and 21 exotics.
• Commissions are included and vary, depending on the currency pair.
• Lowest commissions charged is -0.011% (EUR/USD), while the highest is -0.41% (USD/RUB).
• Maximum leverage is 600

Metals

• The platform allows trading in five metals, i.e., Gold, Silver, Platinum, Palladium, and Copper.
• Maximum leverage is 200
• Lowest commissions charged is -0.252% (Copper), while the highest is -0.004% (Spot Gold).

Indices

• Clients may perform trades on 18 stock indices across the US, Europe, and Asia with Libertex.
• Some of the well-known indices this broker cover include Dow Jones, DAX, and Nikkei 225.
• Maximum leverage is 500
• Lowest commissions charged is 0.0% (MEX BOLSA Index), while the highest is -0.015% (US Dollar Index Future).

Stocks

• Libertex has 50 stock CFDs available for trading, which include blue chips of the US market as well  as popular stocks from Europe and Latin America.
• Leverage for all stocks is 5
• Lowest commissions charged on some stocks is 0.0%, while the highest is -0.02%.

ETFs

• There are 10 ETFs accessible for clients
• Maximum multiplier is 20
• Lowest commissions charged is -0.175%, while the highest is -0.075%.

Oil and Gas

• Traders are given access to 5 Oil/Gas instruments on the platform, i.e., Brent crude oil, WTI crude oil, Light Sweet crude oil, Natural Gas, and Heating Oil.
• Maximum leverage is 120
• Lowest commissions charged is -0.516% (Natural Gas), while the highest is -0.0042% (Heating Oil).

Agriculture

• There are 6 agricultural commodities that Libertex caters to, namely, Cocoa, Coffee, Corn, Soybean, Sugar, and Wheat.
• Leverage for agricultural commodities is 50
• Lowest commissions charged is -0.191% (Coffee), while the highest is -0.072% (Soybean).

Cryptocurrencies

• Libertex offers 40 crypto assets, including but not limited to Bitcoin, Ethereum, Dash, Litecoin, and Ripple.
• Brokerage fee for CFD trading in cryptocurrencies is cut by 50%.
• Leverage for all cryptocurrencies is 20
• Lowest commissions charged is -1.02% (Litecoin), while the highest is -0.1% (Bitcoin Gold).

Trading Conditions at Libertex

Below discusses some of the important conditions that traders need to consider if they intend to open an account with Libertex.

Commissions

• There are no spreads charges for trades with Libertex, only commissions.
• A commission is charged for each trade performed on the platform.
• Percentage charges included in Libertex’s assets are different as well.

Leverage

• All trades performed on the Libertex platform can be leveraged. Rather than having a fixed leverage number, this broker employs a multiplier which could vary depending on the asset being traded.

Leverage on Libertex functions based on the trader’s categorization status, i.e., Retail or Professional client.

• Once Retail clients open a position, the margin requirements will be based upon the leverage, meaning the leverage establishes clients’ trade amount.
• Professional clients, on the other hand, can trade without leverage. They will be investing their own money, which will be kept on their account, while no margin will be taken.

Conclusion – Is Libertex good?

Based on the Libertex Review above can be said that: trading with Libertex offers a number of advantages. One of them is its regulation by the Cyprus Securities and Exchange Commission (CySEC), as this helps ensure client fund safety and segregation.

This broker also keeps a tight rein on its clients’ risk exposure. The risk exposure is limited to the amount of opened transactions, and not to the account balance. When it comes to its set commission schedule and multiplier, these two can either be beneficial or unfavorable, depending on the trader’s experience. The execution of trades on the platform could be more efficient, due to the multiplier and the absence of dealer spreads.