Is Libertex Legit

The legitimacy of Libertex has become a topic of debate among traders. While there are several reviews and sources that assert Libertex's status as a reputable and trustworthy broker, there are also contrasting opinions that voice concerns over potential scam activities or complicated trading platforms. In this article, we will delve into a comprehensive analysis of Libertex, shedding light on various aspects to provide a clearer understanding of the broker's standing in the market.

Overview of Libertex

Founded in 1997, the Libertex Group has experienced remarkable growth, expanding its reach to serve millions of clients across numerous countries worldwide. With a client base exceeding 3 million, Libertex has earned the trust and loyalty of traders around the globe. Moreover, the forex broker offers access to over 250 tradable assets, ensuring ample opportunities for investors to diversify their portfolios and explore various financial markets.

Libertex's commitment to providing a seamless trading experience extends beyond its comprehensive asset selection. The broker offers commission-free investments in real stocks, enabling clients to invest in the stock market without incurring additional charges.

Catering to a vast international audience, Libertex has established a presence in over 120 countries. This extensive coverage ensures that traders from various regions can benefit from the broker's services, regardless of their geographical location.

Is Libertex safe?

When deciding on a suitable broker, it is crucial to place considerable emphasis on their regulatory status. In the case of Libertex, it is worth noting that the broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), signifying its commitment to adhering to established industry guidelines. Operating under the CySEC license number 164/12, Libertex ensures that it operates within the regulatory framework set by the commission, offering clients a secure trading environment.

However, it is important to acknowledge that Libertex holds a relatively modest number of licenses compared to some of its counterparts. While this may be a consideration for potential traders, it is important to note that the regulatory status of a broker should not be solely determined by the quantity of licenses held. Instead, it is essential to evaluate the overall regulatory framework, the reputation of the regulatory body, and the broker's compliance with the regulatory requirements.

By focusing on the regulatory framework as a whole, traders can make informed decisions based on the broker's commitment to transparency, client protection, and regulatory compliance. While the number of licenses held by Libertex may be smaller compared to certain other brokers, the regulatory oversight provided by CySEC remains a significant factor that contributes to the broker's legitimacy and reliability.

Ultimately, traders should carefully consider multiple factors, such as the broker's regulatory status, reputation, and compliance with industry standards, to make an informed choice that aligns with their trading needs and preferences.

Pros and Cons

When considering the use of Libertex as a trading platform, it is important to weigh its advantages and disadvantages.

One of the notable advantages of Libertex is its fast and user-friendly registration process, allowing traders to swiftly open an account and start trading. Additionally, the platform offers user-friendly MetaTrader platforms, providing easy market access for traders of all experience levels.

Moreover, Libertex offers a proprietary trading platform that is compatible with various devices, ensuring convenience and accessibility for traders on the go. Furthermore, the platform boasts a good range of trading instruments, encompassing over a diverse selection of over 2300 options.

However, there are a few drawbacks to consider as well. Libertex operates with fewer regulations compared to some other brokers, which may raise concerns for traders who prioritize stringent oversight. Additionally, it is important to note that Libertex charges various fees, including an inactivity fee, withdrawal fee, and transaction fee. Lastly, for forex traders, it is worth noting that Libertex offers only one account type, which may limit the flexibility and customization options for some individuals.

Ultimately, when deciding whether to utilize Libertex as a trading platform, it is crucial to carefully evaluate these pros and cons, taking into consideration individual trading preferences, regulatory requirements, and fee structures. By conducting thorough research and weighing these factors, traders can make an informed decision that aligns with their specific needs and goals.

Commissions and fees

The commission structure for opening transactions on Libertex accounts is dynamic, meaning it can fluctuate based on the current spread level in the market. It's important to note that during periods of increased market volatility, such as when significant economic news is released, or when liquidity is reduced due to factors like opening or closing trading sessions or transitioning to the next trading day, the commission charged may be higher than usual.

Furthermore, it's worth mentioning that the commission for opening trades in the Libertex platform is calculated based on the trade amount, taking into consideration the leverage used. This means that the commission will be a percentage of the trade size, with the exact amount determined by the leverage applied.

When it comes to fees on Libertex, it's important to note that the broker does not impose any charges for deposits. However, withdrawal fees are applicable for certain transaction methods, although these fees typically remain below 1% of the withdrawn amount.

Traders should also be aware that Libertex applies swap fees, commonly known as overnight fees, on positions that are held overnight. It is crucial for traders to consider these fees when planning their trading activities and managing their positions.

Regrettably, Libertex does not offer an Islamic account or a swap-free account tailored to the needs of Muslim traders. This means that Muslim traders who adhere to Shariah principles, which prohibit the collection or payment of interest, may need to explore alternative brokerage options that can accommodate their specific requirements.

Trading Platform

Libertex, a renowned brokerage, provides traders with a range of trading platforms to suit their preferences. Firstly, they offer their own proprietary in-house trading platform, accessible through their website. While the Libertex platform boasts a user-friendly interface, it is relatively basic in terms of trading features and tools.

For those seeking more advanced capabilities, Libertex also offers the widely acclaimed MetaTrader4 (MT4) and MetaTrader5 (MT5) platforms. These platforms are incredibly popular among CFD traders and offer a wealth of features. The MT4 platform can be conveniently accessed as a mobile application via the Apple Store and Google Play. Its notable features include economic news updates, Expert Advisors, trading signals, a wide array of technical indicators, and an extensive selection of plugins.

Similarly, Libertex provides access to the MetaTrader5 platform, another preferred choice among CFD traders. The MT5 platform is also available as a mobile application through the Apple Store and Google Play. Just like MT4, MT5 offers exceptional trading features, such as economic news updates, Expert Advisors, trading signals, advanced technical indicators, and a vast selection of plugins.

Customer Support

The Libertex trading platform provides customer care through telephone, email, live chat, and even postal services, accommodating different preferences and needs.

One notable advantage of the Libertex platform's customer support is its multilingual communication. Recognizing the global nature of their clientele, Libertex enables customers to address their concerns and resolve issues in their preferred language. This inclusive approach ensures that customers can effectively communicate and receive assistance in a manner that is most comfortable for them.

However, it is important to consider some feedback regarding the customer service provided by Libertex Group. Several reviews have highlighted instances of delayed responses and unsatisfactory services. These experiences can potentially impact the ranking of the Libertex platform when compared to other trading platforms, as prompt and satisfactory customer care is often a crucial factor in user satisfaction

Education

Libertex has an extensive collection of video lessons available on their website, catering to traders of all levels. These comprehensive tutorials cover a wide range of trading topics, including technical analysis, fundamental analysis, price action, money management, trading discipline, and trading psychology. With clear annotations and a user-friendly format, these videos are easily digestible, ensuring that traders can grasp the concepts effortlessly.

In addition to the video lessons, Libertex provides a trading glossary that encompasses a broad range of trading terms and their definitions. This valuable resource further enhances traders' understanding of the industry's terminology, allowing them to communicate effectively and comprehend market discussions.

Conclusion

In summary, Libertex offers a comprehensive range of essential features that one would expect from an online broker. The platform encompasses a wide selection of major trading assets, ensuring that traders have diverse options to choose from. Moreover, Libertex boasts an intuitive and user-friendly interface, making it accessible for both novice and experienced traders. The platform's responsive customer support ensures that users can seek assistance whenever needed.

However, it is worth noting that Libertex falls short in terms of regulatory licenses compared to some of the most reputable brokers in the industry. While the platform may lack certain regulatory validations, it is crucial for traders to consider their risk tolerance and weigh this factor against the platform's other features and benefits. Traders should carefully evaluate their priorities and consider the platform's overall offerings before making a decision.