How to withdraw money on Libertex? – Withdrawal tutorial
Table of Contents
Libertex is widely popular for its powerful trading features within the platform. It is one of the most popular online CFD and Forex brokers that operate under the regulation of Cyprus and Limassol. It is a chain brand that is handling the trading business niche of the company, Indication Investments Ltd. And this company is itself one of the strong parts of the Libertex Group.
The brand has been in action and existence since 1997 and is currently serving more than 2.2 million clients across 11 countries of the world. The company has already bagged more than 30 awards for its efficiency of services. It charges you a commission only for the spreads and nothing else for a market-making broker. Libertex is a regulated broker platform that has been in business for 20 years, which is proof of its reliability.
The platform houses over 200 assets for you to trade as per your choice! Hence, this is the perfect choice for all traders to add flexibility and uniqueness to their trading strategies. Trading with leverage over Libertex will allow you to get more exposure to the complete financial market. The leveraged CFD derivatives within the platform intend to maximize the potential losses and profits.
It allows all UK retail traders to invest with high leverage of up to 1:30. For instance, if you have $1000 as your account balance, you could get access to $30,000 as the trading capital. The professional accounts over Libertex will have access to even higher leverages. Libertex is popular for its CFD broker and focuses mainly on CFD derivatives trading. And it covers over 200 markets!
Libertex offers you two possible options: the web platform and the MetaTrader trading application. The web trading platform is ideal for beginners to learn and utilize the potential of trading over the platform. This platform doesn’t have any kind of complex technical indicators or advanced features that might confuse beginners. Therefore, if you intend to learn, head to the web platform.
If you have subtle experience finding psychology and tactics, you can go with the MetaTrader suite or application. It comes with advanced technical indicators, drawing tools, fully customizable charts, robot-advisory services, etc. You can also automate your trading practices to get better results on small trade investments. The bigger ones will always need your expertise!
Talking about beginners, there is always a consideration amongst them for the deposits and withdrawals. Apart from a bank transfer, all other deposit methods demand a minimum deposit of $100, which is nominal for the individuals who want to bag high profits in their long trading career. Skrill is the only payment method that charges a 1.9% commission on deposits, and the rest of the other methods are free.
Withdrawals come with some commission charges, depending upon the various methods. People can seek deposits at ease without second considerations. It is because they don’t have to pay anything extra for almost all payment methods. But, the case is different when it comes to withdrawals! People skip the idea of trading with a platform just because they are unaware of their withdrawal policies. Therefore, this guide is here to educate you about the complete Libertex withdrawal process in detail.
Getting started with Libertex
Libertex offers stable services over its platform and executes the trades quickly without hassle. The brand has made efforts to design an easy interface with a smooth user experience in mind. The site has features to let traders customize and tailor it to meet their specific needs and requirements upon trading strategies.
Moreover, Libertex has also integrated the trading services with that of MetaTrader. So, in addition to the bespoke platform, the clients can also seek to use the MT4 or MT5 platform for their experienced trading practices. These are top-end and established trading platforms by Libertex that come with a wide range of features and functionalities to form impactful trading strategies.
You get over 50 currency pairs, 100 stocks, 5 metals, over 50 cryptocurrencies, 18 indices, 6 agricultural assets, 5 oil/gas instruments and 10 ETFs. You also get a demo account to practice your trading strategies over the platform. When you log into the website, you will have a tab that says, ‘practice on a demo account.’ Click on that, and fill in the asked information to access the demo account.
The demo account is a complete replica of the real trading account. You will be using virtual funds to place your trades and practice your strategies. When you think you know enough, go ahead with the live trading account and make your first deposit to get the welcome bonus. Now, you are open to trading on your selected asset and its price positions. Libertex offers you up to a 100% deposit bonus as an incentive and a welcome gift for your first deposit.
You need to make trades in order to be able to convert the bonus into real funds and be able to withdraw it. You can get up to a 100% bonus or a maximum of $10,000. Libertex converts the bonus and credits it into trade accounts in 2% increments. But the traders have to convert the entire money into real money within 90 days, or it will lapse. So, this is a brilliant feature for the Libertex traders to earn some free money at ease!
How to withdraw money from Libertex?
The first thing you should do about Libertex withdrawal is that you do not have access to all of the payment methods for withdrawal, which you are permissible to use for deposits. It means that you have fewer withdrawal payment methods than for deposits. You will know more about the payment methods in the latter section of this guide!
For withdrawing the profits, the traders need to head out to the withdrawal section of the platform. Now, you can pick the payment method you want to use for making your withdrawals. You can choose a different method than the one you used for a deposit! There is a commission charge of $10 or 0.5% for the bank transfer, and Neteller charges you $0.5 or 1% of the profits, whichever is greater.
You can also go with the Bank Card transfer for a $1 commission on the profits or pick no-commission options such as Skrill or PayPal. The traders have the right to withdraw any amount of profit through the bank transfer method. But they are limited to maximum withdrawals of $2500 for Skrill, $10,000 for Bank Card, $2500 for Neteller and $10,000 for PayPal. The minimum withdrawal amount is $10 for all methods except the bank transfer.
To help you better understand the process, here are the steps that you should follow in order to get done with your withdrawals:
- Visit the official website of Libertex and log in to your account.
- When you are at your web trading platform, you can go to the ‘Withdraw’ section.
- If you are on the mobile platform, you need to go to the ‘Wallet’ section and choose ‘Withdraw Funds.’
- You will be redirected to the next page, where you will choose the preferred withdrawal method.
- Pick one from the available options by checking out all commission details and submitting the request.
- There are different processing times for varying withdrawal methods. So, just wait for the asked time period, and you will have the amount credited to your account. Some withdrawal methods make the transfer instantly, such as Neteller, PayPal or Skrill.
Payment methods at Libertex
There are certain payment methods such as Sofort, Multibanco, iDEAL, GiroPay and Trustly available for making deposits. But the same methods are not available for you to withdraw the profits. The reason is undefined by Libertex, but they possibly do not want to keep many third-party payment providers for withdrawals to keep the platform even more secure.
For more information about these payment methods, one can read the Terms and Conditions of Libertex. The payment methods that are available for withdrawals are:
Bank transfer
This method supports withdrawals in EUR and USD and has no maximum or minimum limits upon withdrawals. It takes a transfer time of around 2 to 5 working days. It is the most convenient transfer method for big profits. Even though it takes some time to transfer the funds and credit them to your account, but is still a safer option. It is because the money is being transferred from bank to bank. There would be a nominal processing charge by the bank.
Neteller
Neteller also supports withdrawals in EUR and USD. The minimum withdrawal amount for this payment method is $10 or €10, and the maximum withdrawal limit is $2500 or €2500. The transfer is instant, and you will see the money credited in your Neteller-linked account. There is no commission charge for using this payment method.
Bank card
Libertex supports withdrawals only to VISA cards. The supported currency for withdrawals in EUR and USD. There is a nominal commission with this method, and the transfer will be processed within 3 to 5 working days. It is because the bank will validate the sources and then reflect them to your account linked with the card. The minimum withdrawal limit through a card is $10 or €10, while the maximum withdrawal limit is $10,000 or €10,000.
Skrill
The supported currency for Skrill is USD and EUR, and there is no commission charged to the traders with it. This method credits the amount in the linked account immediately after raising the request. Therefore, this is one of the most popular payment methods over Libertex. Skrill is also a reputed payment provider with the trust of its many clients. The minimum and maximum withdrawal limits are $10 or €10 and $2500 or €2500, respectively.
PayPal
The PayPal withdrawal method is accessible only to countries such as Austria, the UK, Bulgaria, Netherlands, Poland, Portugal, Hungary, and others. If you belong to the permissible country, you will see the PayPal option over the withdrawal section. And if you do not belong to the permissible countries, you will have to go with other options.
You can seek PayPal withdrawal for EUR, USD, GBP, PLN and CHF currencies. There is no commission on this payment method, and the transfer is also instant. The minimum and maximum withdrawal in USD are $10 and $10,000, respectively.
Libertex warns you not to fill out the correspondent bank account fields within the form if you do not have that information linked with the primary bank account. In addition to that, you should remember that you can withdraw money to only the bank account that you hold. You cannot process any kind of withdrawals over Libertex to third-party bank accounts.
The Finance Department of Libertex processes all withdrawal requests within one working day. The delayed time is mostly because of the bank or payment provider! But there are some cases where the withdrawal requests are held back for security and compliance reasons. It will be notified to the clients as well! Therefore, some extended processing times might be from Libertex’s send for genuine reasons.
The trading platform does not charge all of the commissions mentioned over the site of Libertex. Instead, they are the charges levied by the payment providers or methods. Withdrawals from the end of Libertex are completely free unless any trader goes inactive for more than 180 days. If that is the situation, Libertex charges 2% on profit withdrawals apart from the commissions charged by the financial service providers or methods.
Fees involved in withdrawals of Libertex
All of the fees and commission-related details about withdrawals have been mentioned previously within the guide. But to give you a one-stop visual understanding, here is the table with all withdrawal commission related information and other aspects in contrast with it:
Method of Withdrawal | Commission | Time of Transfer | Min. Amount | Max. Amount |
Bank Transfer | 0.5%, min of $2 and maximum of $10 | 2 to 5 working days | No | No |
Skrill | No | Instantly | $10 | $2500 |
Bank Card (VISA only) | $1 | 3 to 5 working days | $10 | $10,000 |
Neteller | 1% | Instantly | $10 | $2500 |
PayPal | No | Instantly | $10 | $10,000 |
Conclusion
Libertex is working on the client fund segregating policies. It means that when the traders are suffering from any financial difficulties, they can be assured that their funds are held separately and are protected under the Cyprus Securities & Exchange Commission legislation. In addition to that, Libertex is accountable as a contributor to ICF (Investor Compensation Fund), which covers traders’ deposits with up to $20,000 for any event of insolvency.
Apart from protecting funds, Libertex also uses 128-bit SSL encryption on the personal data of traders to ensure that they won’t get compromised at any time. The applications for this trading platform also undergo upgrades for security purposes. With all of these aspects, Libertex is one of the best online brokers within the industry. Libertex is putting up no direct charges on traders. And all of the fees or commissions imposed by the brand are reasonable and genuine for maintenance and operational purposes.
Libertex doesn’t keep any portion of your profits and processes the complete amount you requested for withdrawals. The payment method you chose might take a minimal commission, which you can avoid by switching to third-party service providers. So, go ahead and open your trading account with Libertex today and enjoy seamless trading over the platform!
FAQ – The most asked questions about withdraw money on Libertex :
Can Libertex be trusted?
Yes, Libertex can be trusted for its trading services, as it has been in existence for more than 20 years without any negative constraints. They are operating under the CySEC regulations, which gives them a strong reputation in the industry. They offer welcome bonuses, free deposits, free withdrawals and offer many technical features to support beginners and experienced traders over the platform.
Does Libertex take a commission?
Libertex only takes a commission on the spreads, without which there are no other direct charges. Apart from that, it also takes an overnight finance fee or swap fee to keep your position open even beyond the standard trading hours. The last charge is an inactivity fee of $10 per month that is deducted from the traders’ account inactive for over 180 days. The deduction will continue until the account balance is Zero!
How much does it cost to start trading with Libertex?
Libertex doesn’t charge any fees over the platform to begin trading. It demands a minimum deposit of $100 for joining the live trading account. But you are not bound to trade with the entire $100 on your first investment!
Does Libertex require ID proof documents?
Yes, Libertex will need the scanned copy of your government approved identity proof document. It is to ensure the safety and security of your funds over the trading account. At the time of withdrawal, this information will be verified with the withdrawal payment method credentials to ensure that the funds are being transferred to your account only.
How can I verify my account before making a Libertex withdrawal?
A trader has to verify his trading account before making a Libertex withdrawal request. There is a process for Libertex verification that traders need to follow. And you have to put forward a few required documents. To begin, you’ll need a front-view color scan of your open passport. Then, if you don’t have one, send a colored scanned copy of your national Id card. Then, submit a utility bill that has been scanned or a bank statement that has been recorded within the previous six months.
What is the procedure to make a Libertex withdrawal?
The first step includes traders steering to the Libertex website and logging in to their trading accounts. Then, traders must tap the ‘withdraw funds’ icon. You must fill in the amount you wish to submit for Libertex withdrawal. Then, submit the request. Libertex will process your withdrawals as the earliest.
Do I need to submit ID proof documents for making a Libertex withdrawal?
If a trader does not submit his ID proof while completing his signup process, he will have to do so while making a Libertex withdrawal. Yes, you will have to present your documents. Libertex will request a photocopy of your government-issued identification document. Maintaining the security and safety of your funds in the trading account is important.
You will require it during the withdrawal process. The broker will verify your ID proof along with withdrawal payment method credentials. By doing this, you can be certain that only your account will receive the funds.
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Last Updated on January 27, 2023 by Arkady Müller
