Launched in 2007 by Forex Club International Ltd and Indications Investments Ltd, Libertex Exchange or simply Libertex is an online financial broker which offer multiple asset classes like precious metals, stocks, Forex pairs, energies and markets. Both of these companies are subsidized by the Russian Forex Club Group which dates back to 1997. Libertex is known as one of the first few Forex brokers in the world of the online brokerage industry. It offers a total of 44 currency pairs and 128 CFDs.
Libertex offer their clients two trading platforms.
The first one is the proprietary platform, which in general, is web-based which means that traders format have to download it or to install a software in order for him to use it. It is very simple and user-friendly which enable clients to trade easier.
The second trading platform offered by Libertex is the MetaTrader4 or MT4. MetaTrader 4 is an online Forex trading platform widely used by traders all over the world. It is developed by Metaquotes Software Corporation and was released last 2005. It is licensed under the same company and consists of both client and server component. It enables clients to write down their own scripts and robots that have the capacity to automate trading.
Generally speaking, both trading platforms offered by Libertex is appealing and functional to beginner and experienced traders.
A mobile-friendly trading platform is offered by Libertex to accommodate the needs of their clients who are instantly moving from one place to another. With these, clients can do all trading activities right on their mobile phone. The mobile version is available and can be downloaded in the Google Play store or Apple App Store.
Libertex offer their clients only one account type known as the Standards trading account which requires a minimum initial deposit of $10, but in order to trade, you must have at least $100 in your account.
The demo account offered by Libertex is exactly the same as the Standard trading account. It comes with $50,000 of virtual cash which clients can use when practising how to trade. It comes free and the amazing part is that the demo account is available in mobile trading and web-based trading wherein the virtual cash is divided- $45,000 for web-based trading and $5,000 for mobile trading.
A minimum deposit of $100 is needed in order for someone to live trade with Libertex, but in order to open a trading account with Libertex, only $10 is needed. This is truly an amazing deal considering the reputation and benefits of trading with Libertex.
If a client wishes to deposit or withdraw, he can do the transaction via bank wire transfer, credit card, and e-wallet. It is very important to know that there is a fee charged by Libertex to inactive traders or accounts. I’m able to be declared inactive if 180 days should pass and when a client withdraws using the inactive account, 2% fee will be deducted.
A leverage which is as high as 1:500 is offered by Libertex. Such leverage is high which means that there is a higher change for higher gains and higher risk as well. As such, traders are advised to trade with the utmost care.
Spreads and Commissions
Libertex does not charge their clients any spread which in general, has an average spread of 0.005 pips. On the other side, they are required to pay a commission known as the trading fee. In addition, the spread greatly depends on the policies by Libertex.
Regulation and License
Libertex is under the jurisdiction of two regulatory bodies, the Cyprus Securities and Exchange Commission or CySec and the Financial Commission or FinaCom. Under CySec, Libertex is issued with license #164/12.
Taking into account, both of these regulatory bodies are well known due to their strict policies and prestigious management. With this, Libertex clients are secured and they really have nothing to worry about when it comes to the security of their assets, not unless they trade.
In order to accommodate their client’s needs, the Libertex website is available in 6 major languages. Furthermore, clients can reach Libertex via live chat and customer support team.
Benefits of Trading with Libertex
Trading with Libertex offers a lot of benefits which include a quality service and products, a user-friendly trading platform which they can use at ease, properly regulated and so much more.
- Well regulated
- Low initial deposit
- Easy to manipulate trading platforms
- Bid spread not transparent
- The MT4 platform not available in certain countries
Overall, Libertex is truly an amazing online financial broker which is suited for traders of all ages. It is well regulated and the trading platforms are easy to use, in as much it lessens the risk every time they trade. It is equipped with such amazing features which clients can maximize once they open a live trading account with Libertex.