Libertex review

Libertex review

If you want to invest in cryptocurrency, you can look for a broker specialized in cryptocurrency, but you can also look for a broker that offers the possibility to trade in commodities or shares in addition to cryptocurrency. These platforms often started for stock trading and, due to the popularity of cryptocurrency, later also started offering them. The opinions on whether you should choose a cryptocurrency broker or a broker for stocks vary widely. In this Libertex review we are going to talk about a broker that falls into the latter category. Libertex is a CFD broker just like Plus500 and eToro. You can read here what that entails exactly and why you should take it into account.

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Free demo account at Libertex with € 50,000

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Libertex

Properties

Review Libertex

Open a demo account

Trade cryptocurrencies CFDs with Libertex

Free demo account to practice with € 50 000

Assortment of 40+ cryptocurrencies

User-friendly portal and a lot of explanation

Regulated by the CySEC

At Libertex you don’t really buy cryptocurrency and you don’t own anything

CFD stands for Contract For Difference and means that you enter into a contract with the broker per trade. By trading with contracts, you never really own the cryptocurrency or the shares in which you invest. You do not need a wallet at Libertex, because you do not actually receive cryptocurrency. What you do through a CFD broker is only speculate on the price. So you only say whether you think the price is going to rise or fall. If you only want to speculate with cryptocurrency, that is of course no problem. If you want to own cryptocurrency, for example to transfer to other people or to use as a payment method, then a CFD broker such as Libertex is not the right broker for you.

CFD brokers are also characterized by the ability to trade with leverage. With leverage you borrow money per trade in order to be able to make a larger investment. If the price rises, you can therefore make more profit with little money. Unfortunately, you can also lose your stake faster if the price falls. So read carefully in advance how leveraged trading works. You can read more about margin trading in our knowledge base. Our advice is to always start with a demo account. This way you will not be faced with surprises.

How can I really own and invest in cryptocurrency?

If you really want to invest in cryptocurrency, we recommend you not to use Libertex. The platform really focuses on CFD trading and not owning or managing cryptocurrency. Buying, selling and actually owning cryptocurrency is cheapest at the Bitvavo Exchange (register). Here you can choose from dozens of different cryptocurrencies, which you can buy and manage in your personal wallet at low costs (maximum 0.25% fee). If you want to know more about Bitvavo, you can read our Bitvavo review.

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Welcome Bonus: € 1,000 FREE trading at Bitvavo

Temporarily pay no trading fees at Bitvavo for 7 days. A maximum of € 1,000 in digital currency applies.

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Libertex review: more about the platform

Libertex has been around since 1997 and initially focused mainly on equities, of course. Due to its popularity, Libertex has also started offering cryptocurrency and with success. Due to the great platform and the wide range, they already have millions of customers from all over the world. Where at CFD brokers we often get the feeling that a new user is being thrown in the deep end, Libertex is doing a bit better. CFD brokers often have the option to trade with a demo account, but it stops there. Libertex also offers this demo site that allows you to trade € 50,000 in fake money, but the broker also offers a free course. This free trading course consists of 29 modules with videos that teach you how to use the platform and how to make the best investments. Everyone can watch these videos, even if you only have a demo account without real money. We have not seen a more extensive explanation of a broker at any other CFD broker and is therefore a real plus in this Libertex review.

So a lot of attention is paid to new users. The knowledge center on the site is also filled with frequently asked questions, so that a solution to a problem is never far away. Many questions are also supported by a video with explanations. You can contact customer service by creating a ticket within the knowledge center.

The fact that Libertex is originally a platform for stocks does not mean that the choice of cryptocurrency is limited on the site. In total you can choose from 40 different coins. This is very neat for a CFD broker. Actually, we only know eToro that offers more different cryptocurrency.

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Free demo account at Libertex with € 50,000

Try the platform completely free with a demo account.

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How Libertex?

Before you can start at Libertex you must of course first create an account. After creating a demo account, you can indicate that you are ready for the real work. You must of course first deposit money in your account. Just like with other brokers. You can easily transfer euros to your Libertex account via iDEAL and it is free of charge. The minimum amount you have to deposit in Libertex is € 100. Good to know is that if you have € 5,000 or more in your account, you will become a VIP within the platform. You will then receive help from trading experts who will give you tips.

When you want to invest, you look up the cryptocurrency that you find worthwhile and indicate how much money you want to put in the coin. As we said, you have to pay close attention to what you enter under the heading “leverage”. If it is not entirely clear to you what it is exactly, we do not recommend using it within the platform. It is nice that you can also indicate whether an investment should be closed automatically. This way you can stop at the right profit or ensure that you do not suffer too much loss.

Luckily, cashing out your winnings on Libertex is just as easy as depositing money on the platform. Payment is made by bank transfer and takes approximately 3 days. Please note that you can only have money deposited into your own account after going through a number of verifications. You may recognize these from other brokers and therefore do not differ that much from what you are used to. The site explains exactly what you need to do for this.

Trading fees and rates

Just like with any broker, at Libertex you have to deal with extra costs that come into play with every trade. In this Libertex review we look at the trading costs and possible extra additional costs. The trading costs differ per currency on this platform. For example, for Litecoin you pay 4% commission, while for Bitcoin Cash it is only 2%. For CFD brokers these are fairly common trading costs, but for cryptocurrency brokers the costs are very high. If you want to buy cryptocurrency cheaper, we recommend using the Bitvavo Exchange. Here you only pay 0.25% fee.

There are also costs for withdrawing money from your Libertex account. If you have the money transferred by bank transfer, you pay 0.5% of the amount to Libertex. Fortunately, up to a maximum of € 10. To save money, you can have money transferred to a credit card. Libertex only charges € 1 for this.

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Free demo account at Libertex with € 50,000

Try the platform completely free with a demo account.

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Is Libertex reliable and safe?

Libertex has been in the trading circuit for over 20 years and has really proven over the years that it is a broker that is reliable. We especially like to see that they offer good support that also caters well to new users. We often miss this with other CFD brokers. In general, ignorance is the reason for negative reviews. Libertex tries to solve this in a smart way. Our advice is to always start with a demo account and only trade with fake money. Of course we also recommend that you watch the instructional videos.

The costs of this CFD broker are quite common when we consider the competitors Plus500 and eToro. If you really only want to invest in cryptocurrency, we recommend that you go for a real cryptocurrency broker.

The broker’s costs are fairly low and leveraged trading can be attractive for more experienced traders to try out.

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Contact details:

Indication Investments Ltd

Gladstonos and Karaiskaki Street, off 31

Limassol 3032

Cyprus

CYSEC number:

164/12

Regulated by the Cypriot Stock Exchange Committee (CySEC)

Contact Form

Live chat

Credit card or iDEAL

Paypal and Bank transfer

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Product Range:

Bitcoin (BTC)

Litecoin (LTC)

Ethereum (ETH)

Limits:

Minimum € 5

Withdrawal costs € 10

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