Forex Club (Libertex) has multiple brands and entities. Its products, pricing, and range of markets vary across its account offerings, including via MT4 and on its proprietary Libertex platform, making its offering fragmented and vastly different across regions.
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Libertex is an online financial broker who is part of the Forex Club Group. It is based in Russia although its operations extend to Belarus, the islands of St Vincent and Grenadines and Cyprus. The company has a wide clientele base extending to over 20 countries across the globe.
The broker is regulated by CySEC and provides traders with numerous financial instruments to trade in including stocks, commodities, indices, and currencies. Besides CySEC, Libertex has also subscribed to The Financial Commission (Finacom) which is an independent body whose purpose is to act as an impartial mediator/arbitrator in any disputes arising between brokers and traders. Aggrieved traders should submit their complaints to Finacom.
• Trading platforms: Libertex offers traders with its own unique web-based trading platform, suitable for traders who doesn't wish to download and install any software. The platform is truly exceptional and even won the award for the Best Trading Application for 2016 in the EEU. The platform is easy to use and provide traders useful tools and charts. The Libertex trading platform is also available as a mobile application for both Android and iOS smartphones. Libertex also offers traders Metatrader 5, which has been listed amongst the most advanced and professional trading platforms.
• Trading accounts: Libertex offers traders two accounts, a standard account, and a demo account. The demo account is identical to the standard account and comes with a virtual deposit of around $ 50 000 to help new users navigate and learn more about trading on Libertex. The demo account provides users with access to both the web-based trading platform and the mobile application. The demo account is free. There are five levels of accounts, ranging from Silver to Exclusive. Each level contains a set of extra benefits as you move up the spectrum. The most popular of this levels is Platinum.
• Payment methods: payments and deposits can be made using bank wire transfers, credit or debit cards, and SEPA transfers. All other payment methods are only accepted at the discretion of the broker. Additionally, traders are required to submit withdrawal requests by 1.00PM CET. Libertex also charges fees for accounts that have not been active for 180 consecutive days. An attempt to withdraw funds from such an account attracts an automatic fee.
• Bonuses and promotions: despite indicating the existence of bonuses and promotions in their terms and conditions, none could be found at the time of this writing.
• Customer support: customer support is available in 6 different languages and can only be reached through live chat.
• Educational resources are excellent: The education center has been described as being resource-rich and would prove valuable for both advanced and new traders.
• Very user-friendly platform: The website is designed as simple as it could be but abundant of useful trading tools and easy to navigate.
• Non-Auto-trade bot: Libertex does not offer automated trading or expert advice.
• Doesn’t Support Metatrader 4: Regardless of launching the Metatrader 5 platform, it lacked the more popular and favored Metatrader 4.
Libertex is definitely a worthwhile broker that can be recommended to newbies, novices, and advanced traders. The evidence of its efficiency and safety can simply be derived from the awards it has secured and also the fact that CySEC regulates it.