Libertex Review year : Is It a Reliable Forex Broker or Not?

It is suitable for high-frequency/high-volume trading in the short-term and longer-term day and position trading. In comparison, Libertex affords commission-free trading on some asset classes, whereas its fixed commissions, where applicable, fall below the industry average. I thus concluded that Libertex stands out against the competition with its extremely versatile and competitive pricing mechanism. Trade Forex CFDs on the user friendly Libertex trading platform using plenty of risk management tools. Trading metals in this way lets traders begin doing so with just $10, although 100 EUR is recommended. In terms of indices, a CFD review will show six North American, eight European, three Asian, one Middle Eastern, and one South American index.

1. Additionally, a good chart should be supplemented by a broad range of technical indicators, drawing tools, and other such instruments to accommodate technical analysis.
2. You can choose to view area charts, candlestick charts, Heiken Ashi charts and line charts.
3. Additionally, there is a wide range of withdrawal options, some of which are also fee-free.
4. Libertex also charges very low floating spreads starting from 0.1 pips.

The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades. In my experience, this is better suited for day trading and position trading strategies where volume is important. But it is less so for intraday trading strategies, such as scalping, where precise order filling is more important. The easiest way to get in touch with Libertex is by calling the number listed below. Please note that you have to enter the Cyprus country code (+357) and that international calling fees may apply.

Opening an Account

A separate help and support section exists, but the separation from the FAQ section is not ideal. These can be of some use to beginners, though they, too, are pretty basic and do not delve deep enough into the subject matter. For instance, you can read about what option CFDs are, but you would not really learn how to use them to trade in practice. My overall impression of Libertex’s chart screen is prevailingly positive. It’s easy to navigate, making it quite suitable for conducting probing technical analysis.

How do I withdraw money from Libertex?

Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal. Libertex give you access to trade a generous selection of more than 244+ instruments including Forex, Stocks, Cryptocurrencies, Metals, Indices, Agriculture, Oil & Gas and ETFs. You will find all of the financial instruments that you would expect from a top broker, including major currency pairs, popular cryptos and stocks of the largest companies. Whilst there are plenty of options, they don’t quite compare to the likes of Swissquote who have over 8,500+ instruments in comparison. The platform comes with the most popular technical indicators that are categorised by Volatility, Trend and Oscillator types.

The platform is also a fit for those into longer-term swing, day, and position trading. MetaTrader 5 is also more suitable for implementing complex trading strategies like scalping because it affords one-click trading. It also has a wider selection of timeframes, thus allowing traders a more intricate outlook into price action behavior. Yes, Libertex’s combination of low floating spreads on instruments across most asset types and low-to-average commissions, when applicable, is extremely favorable.

Libertex Forex Review

While the former is available as a web and mobile application, the MT4 is accessible as a web, desktop and mobile app. Both the platforms support Android and iOS mobile devices and are downloadable from the Google PlayStore or the Apple App Store. Libertex have a variety of convenient methods for depositing and withdrawing funds from your trading account. This includes bank wire, credit card and online payment systems such as Neteller and Skrill. I really like the digital wallet options as I find this to be them to be the quickest and easiest way to get access to my funds. If there is some major market news happening that I want to try and capitalise on, I wouldn’t be able to sit around for days waiting for a bank transfer to clear.

There is an impressive selection of over 50+ technical indicators built in and graphical objects for analysing the charts. You can create and save chart templates for your trading strategies which makes it quick and easy to load them at a later date. Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

I have compiled the table below to help you better understand the difference between trading on MetaTrader 4&5 or the Libertex westernfx review platform in terms of trading costs. It illustrates the spreads and commissions I have recorded on the EUR/USD pair on the three platforms. The table shows how much you will have to pay to trade 1 full lot (100,000 units) on the EUR/USD when the pip value of the pair is approximately EUR 9.39. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.

Traders must send a copy of their ID and one proof of residency document to pass AML/KYC regulations. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. Libertex’s news and signals lexatrade review are reasonably sophisticated, though the broker does not incorporate any similar third-party tools.

I was left with a positive impression of the platform’s interface despite its lack of some key features like one-click trading. In fact, Libertex’s easy-to-use design was the first thing that stood out to me after I opened the platform. The good thing about the Libertex platform is that it does not have a complicated learning curve. There is a watch list of selected instruments on the left side of the screen, a charts window in the middle, and account info and settings on the right side. My tests indicate that to trade a full-sized EURUSD position currently costs between 6-7€. Commissions don’t apply when you’re trading CFDs on energies, indices or select shares.

Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Libertex has several account types, depending on the chosen trading platform and whether you wish to trade CFDs or invest in real stocks.

While the platform is average overall, there are some highlights worth noting. It is particularly strong in trading platforms and tools, making it a decent choice for investors. However, some aspects, such as its educational resources for beginners, could be improved. Libertex have their very own proprietary trading platform which is very user friendly due to its simplicity and convenience.