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Libertex Review and Rating [yyyy]

Libertex Review and Rating 2022

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Libertex is a broker that has 250+ instruments including Cryptocurrency, Forex, CDFs on stocks, and many more. Since 1997, they have been running their business. In the following article, we tried to present all the facts and information about the Libertex broker. Go through our Libertex review to know: is Libertex a legit broker or not.

Overview

Company
8/10
Trust
7/10
Trading Platform
7/10
Account Types
8/10
Costs
8/10
Customer Support
8/10
Regulation
8/10
Cryptocurrency
8/10

Company

8 /10

We all know now that online trading of crypto, forex, CDFs on stocks and many more are creating a buzz all over the world from the last decade. Even a decade back many internet people didn't even think that it would be a huge market. Libertex was one of the pioneer crypto, forex and CDFs brokers established in 1997. It has become a trustworthy brand in the financial market over the last 24 years. This article is going to be on the Libertex Review. Let's find out how the year old broker is doing its business and how transparent and trustworthy they are! If you are as interested as me, keep reading our Libertex Review. By the way, it's not going to be any paid or sponsored review. Even AtoZ Markets is not responsible for any of the information. Everything is at the writer's discretion.

We all know now that online trading of crypto, forex, CDFs on stocks and many more are creating a buzz all over the world from the last decade. Even a decade back many internet people didn't even think that it would be a huge market. Libertex was one of the pioneer crypto, forex and CDFs brokers established in 1997. It has become a trustworthy brand in the financial market over the last 24 years. This article is going to be on the Libertex Review. Let's find out how the year old broker is doing its business and how transparent and trustworthy they are! If you are as interested as me, keep reading our Libertex Review. By the way, it's not going to be any paid or sponsored review. Even AtoZMarkets is not responsible for any of the information. Everything is at the writer's discretion.

Libertex Review: Services

Libertex is not just a crypto broker. They give you a wide range of products. They provide 250+ trading instruments. Among 250+ instruments, they have 50 currency pairs, 50 Cryptocurrency Pairs, and more than 100 Stocks, 5 Metals, 5 oil and gas instruments, 18 indices, 6 Agriculture, and 10 ETFs.

Notable Libertex Features

It's an authorised and regulated broker. They are running the company for 23+ years with good reputation.

The broker gives leverage to all tje instruments available on their platform. Their leverage verlies from 1:30 to 1:999.

Libertex has its own proprietary web platform along with Android and IOS apps.

Their spreads start from zero pip but they charge a commission starting from 3%. I personally like zero spread with commission accounts because at the end it's less costly than accounts with fixed spreads.

How to Open Account On Libertext

1. To open an account you have to sign up with an email and password. You can do it from their app or website. Website link: https://app.libertex.com/#modal_register. You can also use your Facebook to register a trading account.

2. After Signing Up, they will ask you some questions which you have to answer.

3. After your first deposit, you have to complete KYC. It usually takes 3 days to reay your account.

Know Your Customer (KYC)

After applying in Libertex, you have to complete your KYC.  To do it, you need two documents.

1). Valid proof of identity

2). Proof of residence

For proof of Identity, they accept uncovered clearly visible colour copy/scan of your passport or scan copy of both sides of your valid identity card with all the four corners visible. For the UK, Ireland, Norway and Denmark, you need a driving licence as those countries do not issue identity Card.

They accept one of the following documents as proof of residence:

- A current bank statement

(no online banking, savings contracts or account overviews)

- A recent bill for gas, water or electricity, property taxes or garbage collection (municipal).

(No invoices from housing associations or private landlords.)

A landline phone bill

(no mobile phone bill).

- A bill for internet/cable connection

(It must clearly indicate on the bill that it is a landline internet plan or cable connection.)

- Confirmation of registration

(signed and stamped by the competent authority)

- A council/income tax certificate from the tax office

(No payroll, tax certificates or submission forms)

You must provide a colour photo or scan of the original document, not a photograph of the document from a screen. The document must contain your name and full address, and the date of issue must not be older than 6 months. All four corners and edges must be visible. Numbers/amounts can be blackened or covered.

Libertex Review: Pros and Cons 

Pros

◆ They are regulated by CySEC. Licence number 164/12

◆ They are in 23+ years of operation.

◆ Minimum deposit 10 EUR

◆ No Deposit Fee

◆ Accessible by Android and iOS Devices

◆ They have very competitive spreads and high leverage up to 1:999

◆ They have 3-hour trading course for beginner traders

◆ They accept clients almost from everywhere.

◆ They have a Welcome Bonus and Loyalty Program.

Cons

◆ You can not use EAs.

◆ Very Limited Account types.

◆ Only Live Chat with humans is available from 6.00 AM to 8.00 PM Central European Standard Time. 

◆ Doesn't allow copy trading.

◆ Doesn't allow hedging

◆ You have to pay Inactivity fee after 90 days

Trust

7 /10

In this Libertex review, let's find out how trustworthy and reputed the Libertex broker is. It's one of the oldest online brokers dealing with crypto, forex, indices, stocks, CDFs, EFTs, Metal, Oil and Gas and Agriculture. They have been running the business for 23 years. They have 250+ assets and 40+ International awards. The most noteworthy awards are Best Trading Platform in European CEO Awards 2020, FX Report Award 2020 (Best Trading Platform Category), FX Report Award 2020 (Best FX Broker Category), Best Trading Platform award by World Finance 2020  and many more.

Libertex Fund Security

Libertex security

Libertex gives priority to their customers. Their accounts have been hacked or frozen by authorities. They keep checking their infrastructure and security measures every year.

  • SSL Encrypted

They use SSL encryption certificates to protect customers' personal data from their website and trading apps.

  • Strong Protection

Libertex website and apps are protected from any kinds of attacks such as DDoS and other spam attacks.

  • Protection for Payments & Funds

Customers' funds are stored in different banks. To diversify the risk they use different banks to keep customer's money.

  • Reliable Payment Processing

They use a reliable payment process verified by Visa and MasterCard. They ensure that all data is encrypted.They also take measures against fraud policies.

  • Monitoring

The anti-fraud team of Libertex always monitors all accounts activities for theft or fraudulent transactions.

Trading Platform

7 /10

Libertex has its own web based trading platform along with MT4 and MT5. Their web based platform looks like the image below.

To trade here, you don't need to download anything. You can do it from their website. In the web based platform you will get charts of all the instruments, some Indicators, News and Live trade. The trade execution is really fast. It's really user-friendly though you won't get too many indicators. Check the below image for available indicators on web platform.

If you are comfortable with MT4 and MT5, you can download their MT4 and MT5 from Libertex website. In their platforms they do not allow EAs and copy trading.

Mobile Trading App

If you want to trade on the go, you have to download their android or iOS apps from Google Play Store or iTunes Store. They update their apps on a regular basis. Their android app has a 4 user rating out of 5 on Google Play Store. So far the app has been downloaded over 10 millions times. See the image below

On the other hand, their iOS app has a user rating of 4.6 out of 6 on iTune Store.

Both the apps have user-friendly interfaces with a lot of features.

Libertex Partnership

Libertex partnership

Libertex has a 2.2 million customer base. It says that the broker has a huge popularity. Keeping in mind that Libertex has an unique affiliate program which is based on CPA. You can monetize your website traffic with Libertex affiliate links.  Every time a person becomes a qualified customer of Libertex, you will get a commission based on CPA (Cost Per Action).

According to the Libertex website, you can get up to 1200$ commission. To know more about their affiliate program go to this link.

Libertex affiliate programs are not allowed in Spain. As Spain does not allow commercialisation of investment services and client acquisition by any third parties who do not have authorization.

Account Types

8 /10

They do not have too many account types. Demo and Real. In real account, You can be a General Client or Professional Client. To be a professional client of Libertex, you have to fulfil some criteria. One of the criteria is your balance must be $50,000.

Cryptocurrency

8 /10

At Libertex , Bitcoin CFDs are one of the options that are available within the site. Our Libertex review revealed that the company allows users to trade CFDs and also allow you to buy actual crypto coins as well. In the end, you can trade CFDs on cryptocurrency such as Litecoin, Bitcoin Cash, Ethereum, XRP, IOTA, NEO, OmiseGo, QTUM, Monero, Zcash, Stellar, Nem, Cardano, EOS, Tezos, Chainlink, Cosmos, Maker and Ontology.

The CFD method means that you won't be selling or buying the actual cryptocurrency themselves. However, our Libertex review of 2022 revealed that this implies that you don't have to be concerned about having a wallet for crypto and that the entire process was more user-friendly than any of the cloud mining websites.

Costs

8 /10

Libertex has 17 deposit mediums including PayPal and Credit Card by which you can deposit your money. Deposit time varies depending on by which medium you are interested in depositing. All deposit methods are free. Libertex does not charge any deposit fee.

PayPal

Debit/credit card

Bank transfer

Skrill

Sofort

Neteller

Trustly

iDEAL

GiroPay

Multibanco

Rapid Transfer

P24

PaySafeCard

Jeton

Blik

Eps Online

Teleingreso

  • Withdrawal

For withdrawal they have six mediums.

> Seba/International Bank Wire. Withdrawal Fee 0.5%, Minimum 2 EUR, Maximum 10 EUR.

> PayPal withdrawal is free of charge.

> Debit Card and Credit Card withdrawal fee is 1€. 

> eWallet Skrill withdrawal fee is free.

> eWallet Neteller and Jeton withdrawal fee is 1%.

Trading Fees

When you trade classic financial instruments in Libertex, they have two types of fees and commissions.

  1. The First one is the transaction fee. It's taken when you open a trade on Libertex.
  1. Second one is the roll over fee. It's also called overnight fee as interest. It could be positive or negative. In some pairs they will give you interest in some pairs they will take interest from you.

To know the commission and roll over fee of a specific pair, check their website. CFD Specification.

Customer Support

8 /10

On their website you will find their phone number and email address. Phone: +357 22 025 100, Fax: +357 22 025 222, Email: [email protected],

They have a FAQ section to answer many of your queries.

They also have a live chat option which is available Monday through Friday from 8 a.m. to 6 p.m. Central European Standard Time. In other times you can chat with a chat bot. They give support in English, German, Italian, Spanish, French, Dutch, Polish, Russian, Greek languages.

Regulation

8 /10

Libertex is the domain of Indication Investments Ltd which is authorised and regulated by the Financial Conduct Authority.

Libertex is also regulated by Cyprus Securities and Exchange Commission (CySEC) with CIF Licence number 164/12.

Thing to be noted, many Libertex reviews available on different websites say that Libertex regulation is suspended by CySEC. But the suspension has been withdrawn by CySEC.

Is Libertex A Scam?

Is Libertex scam

In one line we can say Libertex is not a scam broker. If you have read our Libertex review so far, you know that it's a fully regulated broker By CySEC with licence no 164/12. They are operating their business since 1997. Once CySEC suspended their licence for some reasons. Once CySEC is satisfied with all the necessary documents, they withdraw the suspension. So the suspension stays only a short period of time.

With Libertex, your money is also safe and secure with different banks. So the customers will always be safe with Libertex.

Conclusion

Libertex is a widely known regulated broker for forex, crypto, CDFs on stocks, Indices, ETFs, Oil and Gas, Metal and Agriculture.

According to TrustPilot they have an envious 4.3 rating out of 5. And 3689 people were given their rating. With that number of people rating, their rating is 4.3. That's amazing.

TrustPilot review

Whether you are a beginner or pro trader, Libertex can be a good choice for your trading. You can have almost all the facilities a trader can ask for.

Reviewed By

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