Libertex assessment | TechRadar
Searching for the finest foreign currency trading app? Then Libertex is worthy of your consideration. This on-line buying and selling platform fees flat commissions for each transaction quite than variable spreads, which makes it simpler to understand how a lot buying and selling will value you. On prime of that, Libertex gives two highly effective buying and selling platforms and all kinds of belongings. Simply keep in mind that whereas Libertex is regulated in Europe, it isn’t out there to US merchants.
In our Libertex assessment, we’ll cowl every little thing it’s essential know to determine whether or not this buying and selling platform is best for you.
What does Libertex supply?
Libertex gives buying and selling in round 250 totally different markets. That features 50 totally different foreign exchange pairs in addition to dozens of commodities like crude oil and gold and 43 of the most well-liked cryptocurrencies. Libertex additionally gives a small vary of US shares and ETFs along with 19 world indices, though its number of inventory market belongings pales compared to conventional inventory brokers.
Notably, the entire belongings that Libertex gives are traded as CFDs (contracts for distinction). As a substitute of taking possession of the underlying asset—say, euros when buying and selling the EUR/USD foreign exchange pair—you’re shopping for a contract that merely displays adjustments within the worth of the asset. CFDs are extensively used for foreign exchange and commodity buying and selling they usually eradicate the complications that include really proudly owning foreign currency outright.
Signing up for a Libertex account is straightforward and solely takes a couple of minutes. You’ll be able to join utilizing your e mail deal with, though you’ll need to supply private particulars like your deal with and nationwide ID quantity. Libertex additionally requires that you just confirm your identification on-line with a purpose to adjust to worldwide anti-money laundering guidelines. So, you’ll have to add a duplicate of your passport picture web page or your driver’s license.
As soon as your account is ready up, Libertex requires a €100 minimal deposit earlier than you can begin buying and selling. The platform accepts quite a lot of cost strategies, together with financial institution transfers and credit score or debit playing cards. After that, you can begin buying and selling any of the belongings out there on Libertex.
Libertex will not be at the moment out there within the US, though it’s out there within the UK, Canada, Australia, and most European international locations.
Buying and selling platforms
Libertex gives two totally different buying and selling platforms: the proprietary Libertex platform and MetaTrader 4. Each can be found for net and cell, and MetaTrader 4 is out there as a desktop app as properly.
The Libertex platform lets you commerce any of the belongings that Libertex gives, together with foreign exchange, cryptocurrencies, commodities, and shares. It gives a reasonably complete suite of charting instruments that mean you can add well-liked technical research and annotate your charts. We additionally appreciated that Libertex reveals you what fraction of merchants are shopping for an asset versus promoting it.
In distinction to the Libertex platform, MetaTrader 4 solely gives foreign currency trading. Nevertheless, it has a way more superior set of options, together with the power to create your individual technical research and indicators. You too can arrange buying and selling alerts, that are basically customizable alerts primarily based on a set of user-defined parameters, and backtest your alerts primarily based on historic worth information for any forex pair.
Options and companies
There are a number of key options that distinguish Libertex from different on-line foreign exchange brokers.
Libertex is among the solely foreign exchange brokers to cost fastened commerce commissions as an alternative of variable spreads. This makes it simpler to know precisely how a lot you’ll pay to commerce. The dealer’s foreign exchange spreads are usually beneath the business common. For instance, the EUR/USD pair carries a fee of 0.008% at Libertex in comparison with a median unfold of round 0.01% for the business.
One of many advantages to buying and selling CFDs is which you can simply apply leverage to your trades at Libertex. The dealer helps leverage as much as 30:1 for main foreign exchange pairs, and as much as 600:1 in case you’re an expert dealer.
Libertex gives a free demo buying and selling account with €50,000 in paper cash that will help you follow buying and selling. The demo account provides you entry to your complete Libertex buying and selling platform and gives an opportunity to check out methods risk-free.
Libertex is regulated by the Cyprus Securities and Change Fee (CySEC), a well-respected monetary watchdog. We additionally like that Libertex is up-front about its privateness coverage and that the dealer retains purchasers’ funds segregated from its personal.
Libertex gives 24/5 assist by telephone, e mail, and stay chat. The corporate has received numerous awards for its buyer assist previously. As well as, Libertex has a web-based data base the place you will discover solutions to most typical account questions.
Libertex is a high-quality foreign currency trading platform, but it surely doesn’t have the huge collection of forex pairs or different belongings that another on-line brokers supply. For instance, CMC Markets gives CFDs for over 300 foreign exchange pairs, whereas IG gives greater than 80 foreign exchange pairs and hundreds of shares. Importantly, IG additionally accepts US merchants. The primary draw back to those platforms is that they cost variable spreads that may be as much as twice as costly as Libertex’s fastened commissions for well-liked foreign exchange pairs.
Libertex has established itself as the most effective low-cost foreign currency trading platforms. This on-line dealer gives CFDs for 50 totally different forex pairs, plus dozens of commodities, cryptocurrencies, and inventory indices. It’s additionally one of many solely brokers to cost fastened commissions as an alternative of variable spreads. Libertex isn’t out there within the US, but it surely’s a robust choice in case you’re primarily based in Canada, Europe, or elsewhere.