Libertex Review – crypto broker 2020

In this comprehensive Libertex Review we would cover all the information you need to know completely about Libertex. Founded in 1997, the Libertex brokerage firm now has more than 2.2 million customers. The broker is active in 27 countries. Headquartered in the Mediterranean island of Cyprus, as is common for CFD brokers. Libertex is especially attractive for traders who want to trade with crypto currencies. Hardly any other competitor offers such a wide range of services. Another positive aspect is that the broker is not financed by the spread, but by a transaction fee. This makes the costs more transparent.

Advantages of Libertex - Facts and figures

  • 2.2M million customers worldwide
  • 213 marketable assets
  • 27 countries covered
  • 20 years on the market
  • 30 international awards

The idea - cost transparency

Libertex is an almost normal CFD broker. Unusual are however the Libertex fees. CFD brokers usually do not charge fees, but the buy price of a CFD is slightly higher than the sell price. The brokers finance themselves from this spread. With Libertex it is exactly the other way round, the Libertex fee replaces the spread. This is quite advantageous because it makes the costs more transparent.

As with almost all brokers, there are additional rollover fees if a position is held overnight. This is intended to offset the broker’s financing costs. Accordingly, the fee is also incurred three times if a position remains open from Friday to Monday. Even if no trading takes place on Saturday and Sunday.

62% of private investor accounts lose money when trading CFDs with this provider

How does trading work with Libertex?

Libertex offers a wide range of crypto currencies

Libertex is best known for its wide range of crypto currencies. Where others only offer Bitcoin and perhaps Ethereum, Libertex can also speculate on the development of Litecoin, NEO or Ripple. Or also on the currency pair Litecoin/Bitcoin. So it is not the ratio of a crypto currency to the US dollar or the euro that is decisive here, but that between two crypto currencies.

Additionally stocks, commodities, indices are tradable

Overall Libertex offers 213 different assets as the basis for its CFDs. These include stocks, commodities, indices and currencies. The range of stocks and indices is extensive. The shares are not sorted by region, as is usually the case, but by sector, which seems more up-to-date. In terms of commodities, Libertex has divided its offering into metals, oil and gas and agricultural commodities.

Libertex Review

The Software: Apps and Webtrader

The CFD broker, offers five different trading platforms, thus providing a broad basis for trading. A summary of the different trading variants can be found in the General Terms and Conditions. The broker provides MetaTrader 4 and 5, as well as Rumus, Libertex and StartFX. The web platform is aimed primarily at traders who need a little more overview for chart analysis than a tablet PC or smartphone can provide.

For more and more brokers, the focus is no longer on PC trading software, but on apps for mobile trading. The company offers mobile applications for iPhone and Android phones as well as a web platform.

62% of private investor accounts lose money when trading CFDs with this provider

Regulation and safety - Libertex is registered in Cyprus

It is not unusual for the company to be based in the Republic of Cyprus. Many CFD brokers have their headquarters on the island in the Mediterranean Sea.

As Cyprus is a member of the EU, the company is subject to the usual requirements. These include, for example, that client funds must be kept separate from company funds in separate accounts. This is to prevent company’s budget being filled with clients’ money – and then going empty if the company becomes insolvent. The funds are also subject to EU deposit protection.

Libertex Review

Training and News on Libertex website

Getting started trading Forex and CFDs is not exactly easy. They are speculative investments that carry a high level of risk. The total loss of money is possible. Those who work with a lever can incur even higher losses. Therefore it is all the more important to deal with the subject from the beginning and also to have a good education.
This is why Libertex offers new customers an introduction to the subject of trading. However, the range of training courses on offer cannot compete with that of the leaders in this category.

The company also offers the latest news. This information should be seen more as background information. In contrast, there is no ticker with current news for new trading. All in all, in some places you have to search for a long time until you find the desired information. It’s best to take a look at the “Help and Support” section, where you can find information most easily.

62% of retail investor accounts lose money when trading CFDs with this provider

Things to consider prior account opening

Account opening process - quick and easy

The Libertex Review has shown that it is a broker who is considered a friend of quick decisions. The account registration already proves this. If you are interested and would like to register, it does not take much time. Simply select “register” on the website. Then a field appears where you can log in with your e-mail address and a password. If you want, you can also register via Facebook as a social network. The registration is completed within a few minutes. Further personal data can be entered later by the trader. After the registration you can decide whether you want to use the demo account first or decide to make a deposit and start trading directly.

Please note: Libertex does not accept customers from Australia, New Zealand, Belgium, British Virgin Islands, Guam, Lebanon, United States of America, Outer Islands, Northern Mariana Islands, Uganda, Philippines, Sri Lanka, Kuwait, South Africa, Azerbaijan, Canada, Russia, Japan, Brazil, Armenia

Notes on deposit and withdrawal

With a minimum deposit of 100 dollars, you can already trade on Libertex. For this purpose, the broker offers the credit card and wire transfer options. Credit card payments are immediately booked to your Libertex account. You can expect payout to take two to three days.

The deposit can be made in Euro. However, since the Libertex platform trades exclusively in dollars, traders must agree to a conversion into dollars. As a rule, this should not be a disadvantage for the trader. However, it can be confusing once you are used to trading in Euros. If you are unsure whether the deposit and withdrawal works, you can try it out for a small amount of money or contact support.

Libertex Review Conclusion

Our Libertex Review has shown that it is a solid platform with some minor weaknesses. If you attach great importance to a high level of transparency in all areas, you may be disappointed. However, it quickly becomes apparent that Libertex works with fair means and also offers an interesting range of different trading options.

Libertex is mainly aimed at traders who want to trade crypto currencies such as Bitcoin or Ethereum. Hardly any other CFD broker can keep up with this. For example, the currency pair Litecoin/Bitcoin can also be traded. For beginners, however, the broker offers less. Here competitors such as Plus500 or eToro are suitable.

62% of private investor accounts lose money when trading CFDs with this provider

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