Libertex Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Libertex Review.
Libertex provides a single type of trading account with leverage up to 1:500 on forex, no spreads, only a commission on its unique proprietary platform.
Unlike most brokers. this one does not offer demo accounts.
The Company. Security of Funds
Libertex is a brand of Indication Investments Ltd., member of Forex Club group – a collective brand of several entities that provide trading in forex and CFDs on shares, metals, indices, Bitcoin and other instruments. Forex Club has clients in more than 120 countries, mainly within the Commonwealth of Independent States (CIS), or the former Soviet countries. The Group operates via its subsidiaries regulated in Russia, Belarus, and Cyprus, and there is also a unit registered in the St. Vincent & the Grenadines. Forex Club has almost 20 years of financial market and online-trading experience.
Indication Investments Ltd., doing business as Libertex, is a Cyprus-based company, which is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). The company also operates the Forex Club (EU) brand.
Forex broker regulation in Cyprus is not among the world’s tightest, but surely is one of the most popular in Europe. There is no cap on leverage, however the CySEC proposed the default leverage to 1:50, in line with the recommendations of the European Securities and Markets Authority.
In order to achieve a license from the Cypriot watchdog, forex brokers have to hold at least €730,000 as a proof of financial stability. Moreover, the CySEC applies a compensation scheme as additional guarantee to clients’ funds. All CySEC-regulated companies are members of the Investor Compensation Fund, which protects clients’ funds in case of company insolvency up to £20,000 per person.
Besides, brokerages regulated in Cyprus are authorized to provide financial services throughout the EU under the MiFID Passporting Regime.
In addition, Libertex was certified by Financial Commission in December 2016 – a Hong-Kong based external dispute resolution (EDR) organization for consumers/traders who are unable to resolve disputes with financial services providers that are members of the Financial Commission.
Minimum Initial Deposit
In order to open an account with Libertex, traders have to invest at least $250. Such minimum initial amount is average. Other CySEC-licensed brokers, like XM, demand just $5 from its clients as a start for their Micro accounts.
Spreads & Commissions
The cost of trading with Libertex is quite unusual: fixed zero spread and a commission, which is calculated as a percentage. The minimum commission fee for the EUR/USD pair is 0.011% of the amount of the opened transaction.
For further information and comparison, you may look up real-time spreads of 15 leading brokers here.
Although you will not find any such term in the Libertex platform, the maximum leverage levels offered by this broker on forex are pretty high, reaching 1:500. Instead, the platform uses the so called “Multiplier”, which can be adjusted from 1 to 500 for each trade.
Leverage (or, on this case, the Multiplier) is a powerful tool that allows traders to operate with large amounts of money by making relatively small investments. Unfortunately, the higher leverage, the higher the risk of losses, which may even exceed initial investments. Here you maty take a look at a list of brokers offering leverage up to 1:500 or higher.
Libertex gives access to the most popular financial instruments (currencies, metals, stocks, energy resources, indices, etc.) via a single application that works across desktop and mobile devices. Reflecting the demand for simplicity, this proprietary web-based platform allows you to invest without any special knowledge. You will not come across concepts such as leverage, margin, spread or lot when using Libertex. Instead, those key trading characteristics are incorporated into the core of the system. So, this platform is extremely suitable for newbies. Users simply have to choose an asset, the amount of a transaction and the direction of movement.
The key advantage of Libertex is that the risk exposure is limited to the amount of opened transactions, not to the account balance. For example, if you deposit $1000 with this broker and invest $200 of that amount in EUR/USD, you can’t lose more than $200.
Besides, the platform comes with a variety of features, such as the ability to adjust the timeframe of the chart ranging from 1 minute to 1 month. A number of technical analysis instruments and fundamental investment ideas are also available. Technical indicators are divided into 3 categories namely “Trend” indicators, Oscillators and volatility indicators.
In 2016 the Libertex platform was chosen as a Best Trading Application in EEU by Global Banking and Finance Review and has won the Best Trading Platform award at FinEXPO.
Methods of Payment
Libertex’s clients can make deposits to and withdrawals from their accounts via bank cards (Visa, MasterCard) and bank transfer.
Libertex is a brand of the Russian giant Forex Club. It offers forex and CFD trading via a unique award-winning platform that is web-based and extremely easy to use.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Libertex Review Conclusion
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