Company Overview
Libertex was founded in 1997 and is headquartered in Cyprus. The company claims to have over 2 million registered users, but there is no way to verify this claim. Libertex does not have a physical office, and its customer support is only available via email and live chat.Does Libertex Have Any License?
Libertex is regulated by the CySEC, but this does not mean that the company is legitimate. The CySEC has been criticized for its lax oversight of forex brokers, and there have been a number of high-profile scams involving CySEC-regulated brokers.Is Libertex Regulated By Any Authority?
In addition to the CySEC, Libertex is also regulated by the Financial Conduct Authority (FCA) in the UK. However, the FCA has issued a warning against Libertex, stating that the company is not authorized to provide financial services in the UK.
All this regulation information is valueless as these organizations don’t have permission to regulate any finance broker. They can only provide a registration.
Pros and Cons
Pros:
- Libertex offers a wide range of assets to trade.
- Libertex offers a demo account so that you can practice trading before you risk any real money.
Cons:
- Libertex’s spreads are high.
- The company’s leverage is high, which means that you could lose more money than you deposit.
- Libertex has been accused of being a scam broker.
How Does Libertex Reach To Their Prey?
Libertex uses a variety of methods to reach potential victims, including:
- Online ads: Libertex advertises heavily on websites and search engines. These ads often make unrealistic promises of easy profits.
- Cold calling: employees will cold call potential victims and try to convince them to open an account.
- Social media: Libertex has a presence on social media platforms such as Facebook and Twitter. The company uses these platforms to post promotional content and recruit new clients.
Technical Details
Minimum Deposit:
The minimum deposit to open an account with Libertex is $100.
Trading Platform:
Libertex’s trading platform is web-based and accessible via desktop and mobile devices. The platform is easy to use and offers a variety of features, including charting, technical analysis tools, and order execution.
Spread:
Libertex’s spreads are relatively high. For example, the spread on EUR/USD is 1.2 pips.
Leverage:
They offer high leverage, up to 1:500. This means that you can control a large position with a small deposit. However, high leverage can also magnify your losses.
Packages and Products They Offer
Libertex offers a variety of packages and products, including:
- CFD trading: Libertex allows you to trade CFDs on a variety of assets, including stocks, commodities, currencies, and indices.
- Spread betting: Spread betting is a type of derivative trading that allows you to bet on the direction of the price of an asset.
- Binary options: Binary options are a type of derivative trading that allows you to bet on whether the price of an asset will go up or down in a certain period of time.
Withdrawal and Deposit Method
Libertex offers a variety of withdrawal and deposit methods, including:
- Credit/debit cards
- Bank transfers
- E-wallets
What Do Their Previous Traders Say?
There are a number of complaints about Libertex online. Some traders have alleged that the company is a scam and that they have lost money trading with Libertex. Others have complained about the high spreads and the lack of customer support.
Summing Up- Why Should Not You Trust Libertex
There are a number of reasons why you should not trust Libertex. The company is not regulated by a reputable financial authority, its spreads are high, and it has been accused of being a scam. If you are considering trading with Libertex, I would strongly advise against it.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money trading with Libertex, you may be able to recover your funds. We provide free consultation calls and recovery service recommendations to help in recovering the lost funds.
If you are interested in getting help recovering your funds from Libertex, please contact us for a free consultation. We will be happy to discuss your case and recommend the best course of action.
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Final Thoughts
Libertex is a risky and unregulated broker. We would strongly advise against trading with this company. If you have lost money trading with Libertex, we recommend contacting a fund recovery company to see if you can get your money back.
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