How much does it cost to trade with Libertex? We show you the spreads & fees
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Libertex is a popular online CFD and forex trading platform that has helped many traders earn a fortune with their impactful strategies. The company is based in Limassol, Cyprus and has gained immense exposure in a very short period. It offers a plethora of financial assets to traders of all levels to easily understand the process and invest to succeed. The maximum leverage with Libertex is also decent!
All the services and features offered by Libertex are highly reliable for traders to build strategies. The brand is well recognized across 11 different countries and has more than 2.2 million clients today. The point of trust for this company is that it is only one amongst the few companies that don’t take any charge for the spreads, but just minimal commissions.
As a result, you get the scope to earn more with your trades! The trading platform and company are operating under the regulation of CySEC. Libertex is used through its web platform, which doesn’t need any setup file, but just an internet connection. The beginners can leverage the potential of the web trading platform, as it doesn’t have any complex features over it. The complexity is kept aside for the mobile application and the experienced traders.
The first and the most crucial thing that you would notice after accessing the Libertex platform is its smooth navigation and appealing UI design. Everything is right in front of you, irrespective of whether you are accessing the web or mobile platforms. Every feature you need to access is at your fingertips and just a click away.
Moreover, the platform also greatly influences the MT4 trading platform. MT4 is accountable as the best trading hub for the market. Libertex has offered MT4 integration with that of their platform to add more technical indicators and other features for professional trading. Libertex does not have an integration facility for the MT5 platform, which might be added in the future as well.
Now that you know what the platform has to offer in brief, you might have a question about what you need to pay to access the services! The cost to trade over any trading platform is the prime question of all beginners and even some professional traders. Most of the trading platforms come with different costs to trade. And this article will help you understand all the charges, fees and spreads associated with Libertex. Follow on until the end!
Who can benefit the most from the Libertex trading platform?
Libertex is not just for the professionals as it has a dedicated web platform with low complexities for beginners as well. The web platform comprises direct trading channels and clear guidance for beginners to start their trading journey easily. The best thing is that the beginners get access to the demo account of Libertex without making any deposits.
The demo account comprises a real trading interface, and every asset graph is the same as that of the real trading account over the platform. The only difference is the funds that you will use over the demo account! You will be assigned virtual funds for trading over the assets in the demo account. You can try out the strategies and ideas that you have for forex and CFD trading. Learn the fundamentals, gain some experience, and then make the deposit and head out to the live trading account of Libertex.
The beginners will have access to all of the trading features within the demo account that they would get in the live trading account. Hence, this is what will help them win over their insecurities on investing in a new platform. The beginners and experienced traders are also trying the demo account to get used to the platform before entering the live trading. The features of different platforms vary from one another.
Therefore, the experienced traders intend to set their hands on the new platform features through a demo account before putting their money into it. Hence, you can conclude that Libertex is for both beginners as well as experienced traders. There is an integrating feature for upgrading the platform to MT4 trading suitability. With this, you will get more advanced technical indicators, chart analysis patterns, and other features to make better trades. This is suggested mostly for the professional traders, who have a good hold and knowledge about the process and market.
What is Libertex offering?
The payout percentage is high with Libertex, which gives you a scope to earn more on every successful trade. You get over 50 different forex pairs, 43 popular cryptocurrencies and several commodities to trade on. There is a small range of ETFs and US stocks with Libertex along with 19 global indices. There is a large set of options for traders of all levels to bet on! All of the assets offered by the platform are traded as CFDs (Contracts for Difference).
It means that when you are investing in a particular asset, you do not own any part of it. Instead, you are just buying a contract for the same, which will reflect the change in that particular asset’s price. CFD trading is ideally popular for commodity and forex trading. Owning foreign currencies might be a stressful investment, for which you can make money by just buying a contract on its price change.
The two trading platforms that Libertex offers are the proprietary platform and the MT4 platform. Both of them are available in web and mobile versions of Libertex. Moreover, you can also download the MT4 platform of Libertex as a desktop application for better usability. The proprietary platform offers you the flexibility to trade on all financial instruments available with Libertex. But the MT4 platform offers only Forex trading!
However, the MT4 platform comes with advanced features and can create its technical analysis and studies. The indicators can also be tailored within this platform to support traders of different levels and styles. With the use of this upgraded platform, you can also set the trading signals that are nothing but customized alerts, which are based upon specific user-defined parameters. The best thing is that you can back-test the signals by considering the historical price data for any kind of currency pair.
The customer support team is available 5 days a week and for 24 hours. You can access their support team through email, live chat, and phone. In case of any confusion about the cost of trading over the platform or the features embedded within it, you can contact and get a solution instantly. The chat support is very quick in resolving problems and queries. You also get an online knowledge base where you can get answers to the commonly asked questions about the platform.
The minimum fees or charges on Libertex
Now that you have a brief understanding of the platform, read along to know the minimum fees or charges on Libertex.
Libertex only charges commission and is free to join! Unlike other trading platforms in the market, Libertex doesn’t take any monthly fee for allowing you to trade over the platform. The only fees you have to pay while trading over Libertex are the commissions.
Inactivity fees
Libertex takes $5 per month upon inactivity of an account for over 180 days. This cost will be charged to the account until the balance is Zero. Upon inactivity, the administration team has to manage the account from their end to keep the funds and personal information safe. Hence, this $5 fee is compensation for the team’s management and account maintenance efforts.
Fees & spreads
There is no spread list in Libertex, as there is no fee imposed upon it! No spreads are charged, and the commission on trades varies from asset to asset or trade to trade. For instance, the commission average of the popular currency pairs such as EUR/USD is at 0.008%, which is a minimal amount.
Similarly, the commissions might vary from 0.47% to 2.5% for the cryptocurrency pairs. The commission amount on stocks settles between 0.1% and 0.2%. If you intend to learn more about the commission charges, you can read the terms and conditions page of Libertex or hold onto this article to get a table explanation on the same.
The commission charges are subject to change depending upon several factors. Therefore, the average percentage mentioned here might be different when you decide to start your trading with Libertex. So, make sure you check the official documentation of Libertex for the charges at that present time.
Broker fees
Traders intend to be sure of the fact that they are not charged with any additional broker fees while joining Libertex. Libertex doesn’t charge any overhead broker fees for allowing the traders to trade at any level. But there is a currency conversion fee that the traders are charged when they deposit funds in a currency that is different from that of the account’s base currency.
Libertex doesn’t make profits from spreads. Therefore, there is no spread betting broker fee over the platform as well.
Minimum deposit
The minimum deposit is kept low over Libertex at $10. It is not a charge or fee as the complete $10 is deposited to that of the trader’s account. It is just a rule to get started with the live trading account. You can trade with lesser amounts than $10.
Libertex explains the rule that the more amount you have in your account; the better trading opportunities will open for you within the platform. But if you are a beginner, the platform recommends you start slow and gradually increase the deposits and trades.
The broker doesn’t charge any kind of deposit fees, irrespective of the payment method you choose. There might be some bank charges, which are not in the power of Libertex to eliminate.
Withdrawal fees
There are no withdrawal fees charged to the Libertex traders on most payment methods unless they are inactive for 180 days. If you are inactive for around 180 days and are back to withdraw the funds and close the account, you will be charged 2% of the amount you withdraw.
The withdrawal fees are charged on some transaction methods, but it is not more than 1% of the amount.
Swap fees
Libertex doesn’t charge swap fees or overnight fees for holding onto the open positions overnight!
Table of fees & spreads
To help you better understand the fees, charges, and spreads, here is a table to elaborate the same:
Chargeable elements | Libertex’s policy |
Initial deposit | $10 |
Spread | From 0.00003 |
Commission | From 0% |
Leverage | 1;999 |
The minimum deposit mentioned within the above table is for the standard account and standard benefits. But you can still get more of the perks if you are entering into the additional layers of the Libertex account. The additional layers and conditions are as follows:
Account type | Joining fee | Benefits |
Gold Status | $250 | Commission discount of 3% |
Gold Plus Status | $1450 | Commission discount of 4% |
Platinum Status | $1500 | Commission discount of up to 20% Access to priority withdrawals |
VIP Status | $5000 | Commission discount of up to 30%Access to priority withdrawalsPremium customer support |
The next table is to educate you on the withdrawal and deposit fees that you might have to pay on select payment methods. Most of the options are free without any fee, but for some, you need to pay a subtle charge. It is as follows:
#Withdrawal
Withdrawal payment method | Commission amount | Minimum amount | Maximum amount |
Bank Transfer | 0.5% Minimum of $2 and a maximum of $10 | No | No |
Skrill | No | $10 | $2500 |
Bank Card | $1 | $10 | $10,000 |
Neteller | 1% | $10 | $2500 |
PayPal | No | $10 | $10,000 |
#Deposit
Deposit method | Charges |
Bank Transfer | Only customer bank commissions |
Bank Card | No |
Skrill | 1.9% |
Sofort | No |
Ideal | No |
GiroPay | No |
Trustly | No |
P24 | No |
Rapid | No |
Neteller | No |
Multibanko | No |
PayPal | No |
Conclusion
Libertex has a user-friendly platform that allows you to immediately commence your trading journey without delay. The process of placing orders over the platform is also an easy task, as you get all of the buttons right on the screen with ideal explanations. Moreover, you also get tons of technical tools over the platform for advancing progressively with your trade patterns.
Whether you want to be aggressive on your trade or go slow on it, you will have the tools to plan out the strategy beforehand. You can even seek priority withdrawals if you upgrade your accounts to higher levels! Even without it, the withdrawals are fast and reliable! They have over 23 years of trading experience, and they are willing to offer the same to modern-day traders.
You need to be a person of legal age to start trading with Libertex and open your account. The process is completely easy as you will just need your email and password to set up the initial process. Following that, the trader will have to answer a few questions and fill in some of the fields. If you are entering into the live trading account, you will have to make the initial deposit per your country-wise currency.
You need to compulsorily verify your identity with government proof and residence proof. You need to upload copies of government-issued documents. Furthermore, you can give a copy of your passport or driver’s license for the same! For residence proof, you can pick a utility bill or electricity bill. Comply with all of the requirements, and you will eventually be ready to access the plethora of assets and features of Libertex.
If you are unsure of entering into the live trading account directly, explore the demo account’s features. You need to select the same option on the main page of the official website. Gain the expertise you need for your successful trading career, and then get into the live account. Libertex caters to the needs of both beginners as well as experts and charges less or no fees in many instances. So, go ahead and try this low-fee trading platform!
FAQ – The most asked questions about cost to trade with Libertex :
Does Libertex charge commissions?
Libertex charges commission depending upon trades and assets. The information about the charges has been mentioned above in the dedicated commission’s section. There are no spreads fees, and the commission percentages are minimal and reasonable over the platform. They are subject to change, depending upon the market fluctuations. So, stay updated with the official page to know the exact commission charge at the moment.
Does Libertex operate with regulation?
Yes, Libertex operates under the regulation of CySEC (Cypress Securities and Exchange Commission). Hence, it is evident that all of your funds deposited to the account are safe with the platform. So, irrespective of whether you are a beginner or an experienced trader, you can rely upon the services and features of the Libertex trading platform.
Does Libertex charge deposit and withdrawal fees?
There are different payment methods embedded in the Libertex platform. Libertex doesn’t intend to charge any upfront deposit or withdrawal fees. But a couple of payment methods charge the platform for providing transactions through their portals. Therefore, this minimal charge is taken from the traders. But most of the methods are free of deposit and withdrawal charges!
Are Libertex fees very high for beginners?
No, Libertex is a great trading platform that offers a genuine fee to traders. Libertex fees are not very high. So, even beginners can trade and earn profits on this trading platform. It is a feature-rich trading platform with a lot in store for traders. With low fees and commissions, Libertex has penetrated the world of trading and increased its clientele.
Is there a way to skip paying Libertex fees?
No, a trader cannot skip paying Libertex fees. The broker will charge fees from your trading account. So, even if a trader wanted to avoid the broker’s fees, he would be unable to do it. Besides, Libertex fees are close to little. So, traders can quit being tensed about the substantial part of their profits from paying the broker’s fees.
Are there any Libertex fees for making a withdrawal?
While requesting a withdrawal, a trader does not have to pay any Libertex fees. Traders can pick their desired payment method and submit their withdrawal requests without worrying about fees. However, the fees that the bank charges for transferring funds or the fees that accrue for making any international transfers are not covered by Libertex. So, traders must choose their Libertex withdrawal method carefully.
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Last Updated on January 27, 2023 by Arkady Müller
