Libertex Minimum Deposit
In this article
The Libertex minimum deposit is only $10. Depending on current exchange rates between the US Dollar and South African Rand, this minimum deposit amount amounts to ZAR 160. To get further details about commissions, fees, and how can you deposit your initial payment, read the full article:
What is Libertex?
Libertex operates out of Limassol, Cyprus, and is one of the world’s largest online Forex and CFD brokers. Libertex is the topic of this review, which covers the account types and features of its trading app and whether you can practise trading using a demo account.
We will also provide data (minimum trade amounts, minimum deposit amounts and commissions). To find out more about Libertex, continue reading.
Online broker Libertex has more than 2 million retail clients, making it one of the leading online brokers. Their headquarters are in Cyprus, and they accept clients from all over the world. Over forty international awards have been won by Libertex since its began operations. In addition, this company sponsors Tottenham Hotspur.
Libertex is an online broker headquartered in South Africa, founded in 1997, offering traders the option to trade currency pairs and CFDs via their online trading platforms. Accordingly, the company executes orders based on a ‘Market Maker model’ without offering an ECN/STP connection.
Indication Investments Ltd operates as a brand of Libertex under its brokerage division, one of the subsidiaries of the Forex Club Group based in Moscow. CySEC and the Financial Sector Conduct (FSC) regulate the company based in Cyprus, Russia, and Belarus.
On the company’s reliable, award-winning platform, you can trade 213 assets at high-speed through market execution on a platform that offers a reliable, award-winning platform. In addition, the company offers a variety of trading instruments, such as forex currency pairs, stocks, metals, indices, commodities, and more.
Libertex Minimum deposit
To open a Libertex real trading account, you must deposit at least $10. Depending on the type of trading account chosen, first-time traders may be required to make a minimum deposit. Once the deposit is activated, it takes up to 72 hours.
The minimum deposit amount necessary to open an account is $10. Traders can also top up their trading accounts with EUR 10 after making the first deposit. You will, however, have more trading opportunities the more you have in your account.
Even though the minimum deposit requirement is not as low as that of most other traders in the industry, which may require as little as $1, the deposit amount of $10 will present only a minimal barrier to entry.
It will be best that you deposit $100 or more. In this instance, the total amount of open trades must not exceed 10% of your account balance (1 trade worth $10 equates to 10% of $100).
|Libertex has Fee-free deposits.||Trading conditions improve only with higher deposits.|
|A variety of currencies are available for deposits.||Fees associated with withdrawals.|
|Deposits with low minimums.||Only two types of accounts are available.|
Deposit fees and deposit methods
The following are popular deposit methods they offer:
- Bank transfer,
- Debit/credit card,
- Rapid Transfer.
Although some withdrawal fees apply, the broker does not charge deposits depending on the payment method. Moreover, it’s worth mentioning that different status levels are available based on the amount deposited. These include
Gold status: Account holders must deposit £250 during their lifetime. If you are a gold member, you will receive a commission discount of 3%.
GoldPlus status: Depositing traders receive a 4% commission discount once they deposit £1,450.
Platinum status: Traders who deposit £1,500 will receive a 20% commission discount and priority withdrawals.
VIP status: Those who deposit at least £5,000 receive a 30% commission discount, priority withdrawals, and premium customer support.
To ensure the safety of your funds, the broker takes the following steps:
- The broker employs innovative technologies, such as the SSL protocol, to ensure safe data transfers.
- According to PCI DSS requirements, the broker runs regular vulnerability scans.
- McAfee Secure has given an award for the broker’s security system.
Nevertheless, please follow standard safety measures to protect your data. Do not disclose your login and password to a third party. Do not submit your account information to a third party.
The broker supposedly accepts all currencies in terms of deposit currencies, which will convert to US dollars in your trading account. However, there is a good chance that most traders can avoid conversion fees by using such currencies as ZAR (Rand).
Step by step guide to depositing the minimum amount
- When you go to the Deposit menu in the Trading Platform, you can choose your preferred payment method.
- Log in to the trading platform using your username and password to fund your account.
- Click Deposit on the mobile platform’s Wallet tab, then choose a payment method from the list.
- Click your name in the upper right corner of the web platform, click Fund your account, select your preferred payment method, and click Continue.
- Your selected payment method will appear on a new page. Make sure you have read and understood all the information on this page. Click deposit after you have checked.
- Ensure that you specify the correct account number when you deposit funds into your trading account.
Utilising Libertex, leverage rates change with the type of trade involved. However, leverage cannot exceed 1:30. There is wide acceptance of this level across the industry, and it applies to most forex pairs.
Unlike other online brokers, Libertytex does not offer a wide variety of account types but only “real” and “demo” accounts. It does, however, offer higher leverage to professional traders.
Every client of Libertex is entitled to a demo account. As a result, you will be able to practice your trading skills and become familiar with the Libertex platform before deciding to invest real money. You will be able to make a virtual trade with $50,000.
Users can decide whether the platform is right for them with the demo account since it helps them decide if it is the right platform. A client who registers for a demo account is also registering for a genuine account (although it is impossible to access the real account, it is impossible to access it without a deposit first).
You can create a demo account both online and through a mobile app. Users can easily switch between demo and real mode on the Libertex website or app to take advantage of quickly shifting market conditions.
Libertex withdrawal fees
On the Libertex website or app, users can easily switch between demo and real mode to respond to rapidly changing. In addition, you can withdraw your funds from your trading account by the withdrawal rules set by each broker.
Each brokerage firm is likely to have different withdrawal methods, and each payment provider will have different transfer fees, processing times, and a potential currency conversion fee. Therefore, you will be charged a conversion fee depending on your base currency, receiving currency, and a payment provider.
Libertex offers withdrawals via Bank Wire Transfer, Debit Cards, Visa, MasterCard, Skrill, Neteller, Ideal, P24, Multibanco, Rapid Transfer, Teleingreso, Neosurf, among other options.
Libertex inactivity fees
Inactive accounts do not incur a fee at Libertex. However, registered brokerages charge account inactivity fees to their clients. In addition, there are specific trading activity requirements that brokers may have. Clients may also be required to meet these requirements.
The broker may charge an inactivity fee to a client whose account has not been active for a certain period. Unlike online trading accounts, inactivity fees are not specific to them. Any financial service provider may charge inactivity fees. Verify on the broker’s website the services and fees you may incur to be aware and comfortable with them.
Your trading account must be closed by contacting your broker’s customer support if you no longer use it. Verify that there are no outstanding fees, and get a confirmation.
Inactivity fees can only apply under specific circumstances depending on the account you sign up for. However, according to broker regulations, they must disclose any fees associated with inactivity.
Some brokerage firms charge inactivity fees to compensate you for maintaining your account on their expensive trading platforms. This is a way for them to recover revenue lost from your lack of commissions.
Libertex deposit fees
There are no deposit fees at Libertex. However, some banks and 3rd party merchants may charge fees. It is always important to check the deposit fee as some brokers charge a fee for depositing funds from your payment method because you may incur a fee when you use a payment method to fund your account.
Depositing a fixed amount in a specific fiat currency may incur a fee. For example, there are often high fees associated with depositing funds from a credit card. However, credit cards can fund your account if your broker accepts them.
Libertex commission fees
CFD instruments are commission-based at Libertex. As a result, your broker may charge you a commission when buying and selling financial assets through your trading account.
Commission fees on transactions with clients may be the primary source of revenue for a brokerage firm. For example, brokerage commissions apply when a brokerage fulfils an order, cancels an order, or modifies your reading account.
A trader’s commission fees can differ according to the trading type, financial asset type, and trading account level. For example, no commission applies for a market order that your brokerage does not fill. However, in the event of a modification or cancellation, your brokerage may charge you a commission.
Research & Education
In addition to proprietary analytics, Libertex’s trading platform is unique. The CySEC suspended Libertex’s license because of its recommendation under each asset without any details and because the regulator concluded it was not acting in good faith.
Charts for each asset are available to Libertex’s traders. There is also the option to view the chart fully-screen, making it possible to analyse it thoroughly. In addition, there are several free tools and indicators available through this broker. Chart analysis is a crucial tool when it comes to making profitable trades.
Libertex is using one of the most advanced charting systems available. The design depends on Tradingview.com. Almost all indicators and tools are available on this platform. You can select several different chart displays and time units depending on the analysis technique.
Trading courses for beginners consist of easy-to-understand lessons over three hours. Besides that, Libertex doesn’t offer many critical educational materials.
Libertex’s customer service is accessible via phone calls, email, Twitter, and Facebook. A representative is available 24 hours a day. In addition, Libertex promises to respond to email inquiries within one business day using its FAQ section.
Is Libertex safe?
CySEC-regulated broker Libertex offers safe and secure online trading. By implementing client fund separation, Libertytex ensures that traders’ assets are handled separately and protected under Cyprus Securities and Exchange Commission regulation if the company runs into financial difficulties.
Furthermore, Libertex protects the privacy of its clients. As well as updating Android and iOS apps regularly, they do so for security reasons.
- What is the minimum deposit required to open an account with Libertex?
$10 is the minimum deposit required to start trading with Libertex.
- How do you make a deposit and withdraw money with Libertex?
Deposit methods offered by Libertex include
- Bank transfer,
- Debit/credit card,
- Rapid Transfer.
When withdrawing funds from an account, one must typically use the same method used to fund it. Additionally, refunds are usually only given to the same type of trading account.
- Are my deposits safe with Libertex?
Yes, CySEC, which ensures the safety of your deposits, regulates Libertex.
- Does Libertex charge withdrawal fees?
Yes, depending on how you withdraw the funds.
- How long does it take to make a withdrawal?
In most cases, payments proceed instantly. However, bank transfers can sometimes take several hours.
Libertex is a broker with more than 20 years of experience, and it offers decent services, although it offers fewer types of trading instruments than other brokers. While Libertex does offer the popular MetaTrader4 platform, the company’s in-house trading platform does not meet the standards set by most of its competitors.
Although it has won numerous awards and excels in the cryptocurrency category, it has relatively limited market instruments compared to many other brokers. However, by working closely with CySEC, a recognised regulatory body in the EU, Libertex ensures traders a safe and secure trading environment.
Jason Morgan is an experienced forex analyst and writer with a deep understanding of the financial markets. With over 13+ years of industry experience, he has honed his skills in analyzing and forecasting currency movements, providing valuable insights to traders and investors.
Forex Content Writer | Market Analyst