Libertex

Forex

As you review their forex assets available, you will find majors, crosses, and exotics, all available for trading.

This Libertex UK review found seven majors, 21 crosses, and 21 exotic pairs available for trading. Traders should be sure to review commission rates before trading forex, as this broker makes a profit on forex via commissions instead of solely via spreads, the latter of which may be what traders are familiar with. For transparency, clients can find all of the relevant commissions, along with swap rates, on the CFD Specification page.

CFD

No Libertex CFD review will be brief, as most of the instruments that the broker offers are Contracts for Difference, with the exception of forex. Traders have access to CFDs for stocks, cryptocurrencies, agriculture, oil-gas, ETFs, metals, and indices.

Trading metals in this way lets traders begin doing so with just $10, although 100 EUR is recommended. There are five metals to choose from. In terms of indices, a CFD review will show six North American, eight European, three Asian, one Middle Eastern, and one South American index. This is a reasonable selection, but other brokers do offer more. There is also the choice to invest in CFDs of five oil and gas commodities and six agricultural commodities.

Stocks

As mentioned, stocks will be part of any CFD review since the broker does not provide direct access to the market. Instead, traders can buy and sell stocks via share CFDs.

Libertex offers access to more than 50 stocks, which is better than some but significantly less than most brokers who offer share CFDs. This review expected to either find no share CFDs or several hundred at least. At the very least, the share CFDs available are diverse, including medical cannabis, materials, technologies, industrial services, consumer goods, energy, and more.

ETF

ETFs are yet another asset you will find in a CFD review. They don’t not offer Exchange Traded Funds directly, only offering them via CFDs.

There are a limited number of ETF CFDs available from Libertex, with just 10 to select among. This review feels that this is enough to add some diversification to your portfolio, but it will likely leave some traders wanting more.

Crypto

As you review Libertex cryptocurrency offerings, you will notice that the broker has a reasonable selection of cryptocurrency CFDs. These CFDs allow traders to profit off the volatile nature of cryptocurrencies without owning the underlying asset, which would require a separate cryptocurrency wallet.

If you review rates on cryptocurrencies, you will notice that the broker cuts the brokerage fee by 50 per cent, due to the popularity of the asset and to encourage further trading of it. Our review team feels that the broker offers a very nice selection of cryptocurrency CFDs, with 19 currencies and 21 cryptocurrency pairs available.

Fees

This review finds that the fees from the broker are reasonable, although they can be better. While most other brokers will make their profits via spreads, Libertex does so via commissions. The commission fees are clearly outlined on the page of the broker’s website titled “CFD Specification.”

It is important to note that the commissions vary based on the platform used in addition to the asset in question. As an example, on the Pro platform, EURUSD has a commission of -0.011 per cent. This page similarly outlines the fees for swap buying or selling.

Account Types

As a potential client completes their review Libertex process, they will notice that the broker offers two main account types. This keeps things simple, yet some traders will likely want more options. Retail accounts feature negative balance protection, the best execution for orders, transparent and clear information, financial ombudsman service, and ICF rights. Professional accounts have all except the last of these. Retail accounts in the UK must follow the European restrictions on leverage, which do not apply to professional accounts. Retail clients can enjoy leverage of up to 1:30 while professional clients can have leverage up to 1:600.

To qualify for a professional account, clients must meet two out of three criteria: (1) an average of 10 or more transactions each quarter over the past 12 months, which each transaction being of a “significant size”, (2) a minimum of one year experience in the financial sector, in a role that requires familiarity with related services or transactions, and (3) a financial instrument portfolio that has a minimum of €500,000, between financial instruments and savings.

There is also the option of a demo account so clients can review themselves before creating a real money account. The demo account comes with a balance of 50,000 EUR, allowing potential clients to truly gain experience using the platform.

Platforms

As you review Libertex forex offerings, you will notice that the broker offers two platforms: a proprietary one and the popular MetaTrader 4. There is no offering of MetaTrader 5, which has additional advanced features. Using MetaTrader 4 allows the choice of a WebTrader, a downloadable desktop version, or a mobile platform. MT4 offers analytic tools, trading advisors, trade signals, and economic news. There are additional tools, such as trailing stop and the ability to simultaneously trade from multiple accounts.

The proprietary platform is a mobile platform that offers all of the investments in a single application. It has zero spreads and keeps things simple, letting traders quickly complete trades. Commissions start at 0.03 per cent and this platform has a minimum trade volume of 100 EUR.

Usability

This Libertex UK review appreciates the usability of the broker’s website. The layout makes it simple to review asset offerings, find deposit methods, and learn more about the broker. Additionally, the layout of the website is clean and professional. To add some vibrancy to the page, it utilises some unique imagery, such as a man in a rocket, which is on the homepage at the time of writing.

Additionally, those looking to review cryptocurrency offerings or those of other assets will appreciate the basic information displayed on the home page. At a glance, website visitors can see the rates and changes for the Dow Jones, GBP/USD, EUR/USD, Gold, USD/JPY, and Bitcoin.

Customer Support

This Libertex review appreciates the presence of an FAQ section, although beginners who review Libertex CFD offerings may wish for it to be more extensive. Overall, however, the FAQ page is well-laid out and has all of the basic information that clients will need. The landing page displays the top 10 questions and there are also categories to make it easier to find a topic.

There is also a separate Help and Support page that allows clients to search in the “knowledge base” for answers. Those who need to review CFD specific information that is unavailable can select the “Contact Us” button on the top right corner of this page. There is also a floating icon on all pages of the website for a live chat. The Contact Us page offers an online form, an email, a phone number, and a mailing address.

Payment Methods

As you review Libertex cryptocurrency, CFD, and forex payment methods, you will find that this broker truly offers a deposit method for everyone. The broker offers more deposit methods than many competitors, something which traders will likely appreciate. Unless otherwise specified, it does not charge for the deposit methods, although the payment provider may.

Card payments

Credit and debit card payments, including MasterCard and Visa, are processed instantly. There is additional security via Verified by Visa and MasterCard SecureCode in some cases.

Bank wire transfer

In addition to SEPA and international bank wire transfers, it accepts payments via SOFORT, which are processed instantly. Bank wires, including SEPA and international wires, take three to five days to process. Other instant banking solutions are regional and include GiroPay in Germany, iDEAL in the Netherlands, P24 in Poland, Multibanco in Portugal, and Rapid Transfer throughout Europe. UK clients are unlikely to use most of these, other than Rapid Transfer.

E-wallets

Also has supports for multiple e-wallets, all of which offer instant processing unless otherwise mentioned. Accepted e-wallets include Skrill, Neteller,

Vouchers

This review would also like to point out that clients in certain areas can also make deposits via vouchers, including Teleingreso in Spain and Neosurf.

Best Offers

This UK review encourages traders to take advantage of additional offers from the broker, including its news and blog sections. The news section includes company news as well as market news to help clients form educated trading strategies. News is divided by company news, financial, forex, and general.

The blog on Libertex is a nice educational resource with a range of articles designed to help beginners get their footing with trading CFDs and forex. There is also some minor educational content mixed into the FAQ section.

The Education page is incredibly lacklustre, as it currently only has one course, which is for beginners. This will likely be enough for beginners, but advanced traders will probably need to look elsewhere for ongoing education to hone their skills.

Regulation & Deposit Protection

Those who hope to find mention of the FCA in this Libertex UK review will be disappointed. The broker does not have regulation or authorisation from the FCA. Instead, its authorisation and regulation comes from the Cyprus Securities and Exchange Commission (CySEC). This is due to the broker’s location in Cyprus, under the name Indication Investments Ltd.

Awards

This Libertex forex review points out that the broker indicates it has earned 30 international awards throughout its 20 years of history. This is a strong indication of its offerings and reputation. Only a handful of the most recent awards are listed on the website, but they show the breadth and consistency of honours for them.

In both 2017 and 2018, they earned the title of “Best Trading App” from the Forex Awards. In those same years, the same Forex Awards honoured it with the title of “The Best Crypto-Currencies Broker.”

In addition to its rewards, broker has had various strong partnerships. Currently, it is a Premium Plus Partner of Getafe CF and Valencia CF, both in the Spanish LaLiga. According to their website, these partnerships stem from shared values, including the strive for excellence even among the best, experience growing as a global brand, and offering and finding opportunities outside of their narrow focus (finance and athletics, respectively).

Additionally, James Rodriguez, a Colombian football player and the winner of the Golden Boot has been the Libertex Global Brand Ambassador for three years.