Libertex Review
- A client’s risk exposure is limited to the amount of opened transactions, and does not extend to their account balance. That is, if you deposit, say, $500 with Libertex and invest $250 from that amount, you cannot lose more than the invested $250 amount.
- The company’s trading platform offers several features, including the ability to modify the timeframe of the chart, which ranges from one minute to one month.
- Libertex offers various technical analysis tools and essential investment ideas. These include oscillators, moving averages, momentum indicators, Japanese candles, trend lines, among others.
- The company has a broad range of assets that traders can invest in.
- Libertex is a regulated broker.
- Clients’ funds are held in segregated accounts.
- Libertex shows transparency by providing the company’s address as well as the name of the owning company on their website.
- The company has a proprietary trading platform.
- Libertex offers an educational package.
- The company’s website is lackluster.
- New traders will find the trading platform too complicated.
- The firm’s website does not provide information concerning withdrawals.
Libertex is a brand owned by Indication Investments Limited, a member of the of Forex Club Group, a corporate brand that consists of various entities that provide trading services in CFDs, forex, indices, cryptocurrency (bitcoin, litecoin), shares, as well as other financial assets. Forex Group was established in 1997 and has customers in over 120 countries in the world.
The group conducts its operations through its subsidiaries which are authorized in Belarus, Cyprus, and Russia. Also, one of the group’s units is regulated in the St. Vincent and the Grenadines. The Forex Club has been operating in the financial industry for more than 20 years now, which makes it one of the most experienced companies in the online trading arena.
On its part, Indication Investments Limited, which carries out business as Libertex, is based in Cyprus, but is licensed and controlled by the respectable Cyprus Securities and Exchange Commission (CySEC). The firm also does business as the Forex Club (EU) brand. Libertex was founded in 2015 to provide brokerage services to clients through a web-based trading platform. Libertex’s address is Gladstonos and Karaiskaki Street, off 31, Limassol 3032, Cyprus.
Trading Platforms
Libertex gives its clients access to the most in-demand financial instruments through a proprietary application that runs on desktop and mobile devices.
Web-based platform
Libertex provides traders with a web-based application that allows them to trade the markets without having to download or install anything. The platform’s user interface is quite friendly, intuitive, and has the financial instruments listed alongside their prices on the left side of the screen. Traders can select assets based on their status as Top Rising, Top Falling, or Popular. Regarding the trading chart, users can view it in the form of candlesticks chart, line chart, area chart, Heiken Ashi chart, or Hollow candlesticks chart. In the same vein, users can view the chart with various timeframes between one minute and one month. The platform displays news and market forecasts in real time at the lower end of the trading chart. There are several functionalities that traders can take advantage of on this platform.
Mobile trading platform
Asides the web-based trading portal, Libertex provides clients with mobile-friendly variants of its trading platform. the apps are available for Android and iOS devices and can be downloaded via the Google Play Store or Apple App Store.
Trading Markets
Libertex allows traders to trade a wide range of underlying assets via their trading platform (about 167). The types of instruments on offer include:
- Currency pairs
- CFDs
- Commodities
- Indices
- ETFs
- Bonds
- Stocks
- Cryptocurrency
Customer Support
The client support services at Libertex can be rated as excellent. The website itself supports up to five major languages including Spanish, English, Indonesian, Russian, and Malaysian. Libertex has various channels through which clients can communicate with the customer support representatives. These include:
- Live chat. Clients can chat with the customer support staff live by visiting the firm’s website at www.libertex.com.
- Telephone. Traders who prefer to contact customer support via phone calls can do so by calling +357 22025 100.
- Email. Libertex users can contact support via email at [email protected].
While the customer support channels may seem limited due to the apparent lack of social media pages, you can take comfort in the fact that the customer support staff are very responsive and knowledgeable. So, you won’t face much problems. Also, Libertex makes up for the limited support channels by providing traders with a comprehensive educational support that includes over 30 video tutorials intended to help traders boost both their knowledge of the platform and the trading process.
Security and Fairness
Libertex is fully regulated and overseen by the Cyprus Securities and Exchange Commission (CySEC) under license number 164/12, which was issued to Indications Investments Limited. The registered address is given as 13 & 15, Gregori, Afxentiou Street, IDE loannou Court, Office 103, Mesa Yeitonia, CY-4003 Limassol, Cyprus. This provides the company with lots of legitimacy.
In addition, Libertex is a registered member of The Financial Commission (Finacom), an external dispute resolution (EDR) company based in Hong-Kong. Finacom helps to resolve disputes between financial providers and traders/consumers when they are unable to resolve their differences. Therefore, if you have grievances with Libertex, you are at liberty to file a complaint with Finacom and can rest assured that the organization will be impartial in the provision of its dispute resolution service. Moreover, Libertex is party to a CySEC enforced compensation scheme that is designed to provide an additional guarantee to customers’ funds.
Conclusion
Libertex is a fantastic broker with a few shortcomings. The platform allows users to trade a wide range of markets and lets them open and close a trade whenever they deem fit. When it comes to the number of tools and resources on offer, Libertex is no slouch. Most people’s concerns about the broker is centered around the uninspired nature of the website and the fact that it doesn’t offer a lot of information. Also, there’s the issue about the platform being too difficult for newbies to understand. Besides those, there is not much else to worry about.
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