Overall score: 95Official Site
Available in Colombia?
Average Spread for EUR/USD
Libertex, MT4, MT5
10 USD or about 37.000 COP
Forex, cryptocurrencies, metals, stocks, exchange traded funds, energy, commodities, cereals
Libertex is a company that provides brokerage services in different financial markets and derivatives. The firm reaches about of three million customers, coming from from more than 110 countries of the world.
If you want to know in depth about this broker, especially if it is a good trading option for ColombiaIn this article you will find information about their spreads, payment methods, and customer service.
|Spreads and commissions||⭐⭐⭐|
Libertex at a glance
Libertex is a trading company that offers its services in trading in the following markets currencies, derivatives, actions y commodities.
The firm has extensive experience in the market since its founding in 1997 and throughout its history has been awarded for its outstanding work and the excellence of its products. In the year 2020, the company received the award as a Best Trading Platform in the FX Report Awards and in the magazine World Finance.
The platform of this broker is accessible from Colombia. If you are interested in the world of trading, this is a good option to start trading.
Libertex operating license and regulation
Regarding the security issue, we found that Libertex offers all the necessary measures for the protection of users and that it has a valid license to carry out its activities.
In this sense, in Libertex's website we find that its operations are supervised by the CySecthe governmental body in charge of regulating financial services in Cyprus, with the license number VAT 164/12. In addition, this brokerage follows the provisions of the Financial Sector Conduct Authorityunder the document FSP 47381.
This broker operates within the framework of legality and its services can be accessed from Colombia.
How to open a Libertex account from Colombia?
If you want to start trading on this platform, you must first register. This process is extremely simple and all you need is an internet connection and a valid email address:
- Log in to the Libertex website.
- Click on the "Register" button.
- Fill in the email, password and phone number fields.
- Accept the terms and conditions.
- Click on the "Register an account" button.
Unlike other sites, no identity verification is required to register on the Libertex website. However, after making the initial deposit you must corroborate your data within 15 working days.
This process is part of the brokers' rules to combat crimes such as identity theft and money laundering. On the other hand, this is a way for companies to make sure that users are the ones who are actually managing their own accounts.
Libertex Account Types
This intermediary offers different types of accounts appropriate to the needs of the users. new and old. In the table below, you can find information about each type of account:
|Demo||Retail account||Professional Account|
|Minimum deposit||N/A||10 USD (37.500 COP)||10 USD (37.500 COP)|
|Average Spreads for EUR/USD||3 pip||3 pip||3 pip|
|Platforms||MT4, MT5, Libertex|
|Minimum volume per order||One microlot (0.01 lot)||One microlot (0.01 lot)||One microlot (0.01 lot)|
|Recommended for||Beginners, inexperienced users.||Retail investors, beginners.||Experienced traders, professionals in the financial sector, investors with large capital.|
Demo account (demo)
By means of a demo account you can start getting to know the features of the platform and familiarize yourself with the graphics and technical elements.
At Libertex, the demo account is unlocked once you register on the site and you do not need to make any deposits or real money transactions to access it.
The test account has a fictitious balance of $50,000 USDwhich are at your disposal. You can also top up or reduce this balance to simulate real transfer operations. Honestly, the demo experience offered by this broker is one of the most complete and easy to access on the market.
The standard account is the one that every user starts with once they register on the platform. It allows you to trade all instruments, the use of MT4 o MT5and a leverage level of until 1:30.
To use this account, you need a initial deposit. However, it is the best option to begin to test the real effectiveness of trading strategies or if you want to find out what is your investor profile (scalper, intraday, long term).
On the other hand, you also join the Libertex loyalty program and you receive a 5 deposit bonus % every time you upload funds to the platform.
This account is reserved for those who manage a large amount of capital or have an outstanding investment history.
It is not possible to access a Pro account in a conventional way. You must apply through the broker and meet a number of requirements.
Professional clients enjoy benefits such as a higher leverage and can invest in a more risk-averse manner, with the benefits and detriments that this represents.
We do not recommend that you pursue a professional account. As the name suggests, this type of instrument is reserved for those with a huge amount of knowledge about the markets.
When you log in to the Libertex website, you can choose between three types of trading platforms: Libertex, MetaTrader 4 y MetaTrader 5. Any of these is completely reliable and you can choose the one that best suits your taste.
|Libertex||MetaTrader 4||MetaTrader 5|
|Recommended for||Libertex Users||Beginners, experienced people and professionals||Experienced in the use of MT4|
The Libertex platform allows for fast and efficient operation in any of the more than 250 instruments available in the company catalogue.
One advantage of this application is that you can enter directly from the browsereither from a trial or retail account. This way you can find out if you really prefer this platform or if you decide to use other software.
On the technical side, the Libertex software has all the important features of a conventional trading platform. You can modify the charts, draw support or resistance lines, enter text, patterns, chart patterns, etc.
No matter if you are new or experienced in the world of trading, you have probably heard of MetaTrader 4. This platform is the gold standard industry leading, as it has a full feature set of analysis tools, order management, market signals and charting elements.
Among the most important advantages of this platform is the option to perform automatic movements by means of intelligent software programs. While you can do this in other applications, the difference is that in MT4 you will find more of this type of help and it is easier to get information about it.
If you are just starting your operations in the trading world, we recommend the use of MetaTrader 4. Although several years have passed since its publication, it is still one of the best learning tools and one of the most efficient tools for digital trading.
The continuation of the MetaTrader platform provides new elements and tools of analysis. These include expanded technical indicators, more customization tools and a larger number of charts.
However, this platform has not surpassed the popularity of its predecessor. That means that if you're looking for guides or tutorials, you may find more help available for MT4. However, this doesn't mean that the MT5 software is bad, it's just that it may not have had the best reception from the public.
Libertex portfolio of instruments
The catalogue of options is another important advantage of this company. You can participate in trading cryptocurrencies, shares of companies such as Facebook or Google, metals, exchange-traded funds, and of course currencies. Below, you will find a series of summary tables with the most important information about the instruments of this broker:
On the Libertex portal you will find more than 30 currency pairs available for trading. Unfortunately, the leverage for this asset class is low compared to other brokers, which is negative if you want to handle large volumes. Conversely, the average spread is high for certain currencies.
|Dow Jones||5.00 pips||1:20|
At Libertex you find the key indices of stock exchanges and industrialized countries. If you wish, you can invest according to the performance of the Dow Jones, the NASDAQ100 or the DAX.
|💠 Precious metals|
If you are interested in the trade of valuable materials, you should know that you can carry out activities of purchase or sale of gold, platinum o copper from Colombia. Since this is a market that varies little in the short term, it may be an appropriate form of investment for those with a stable income stream over time.
Libertex has a diverse catalogue of digital assets. On the site you can exchange the most popular currencies, such as the Bitcoin or the Ethereumor other less famous ones, such as the Elrond and the Filecoin. If you want to invest in this segment, you should consider that the average spread is high because these assets have a higher volatility.
Payment methods for Colombia
The payment gateway at Libertex includes several traditional methods (credit cards) and more recent ones (virtual wallets and cryptocurrencies). For Colombia, this trading platform offers a wide range of local options such as wire transfer by Bancolombia, Bank of Bogotá y Colpatria. To know more detailed payment methods we have prepared the following table:
|Credit or debit cards||Skrill or Neteller||National bank transfer||International bank transfer|
|Minimum deposit||10 USD (37.000 COP)||10 USD (37.000 COP)||10 USD (37.000 COP)||10 USD (37.000 COP)|
|Average deposit time||Instant||Instant||2 to 5 business days||2 to 5 business days|
|Average withdrawal time||Instant||Instant||2 to 5 business days||2 to 5 business days|
|Commissions||N/A||1.9% for Skrill||According to the selected bank||According to the selected bank|
|Comment||A universally available and easy to use option||Method that allows cash recharges from Efecty, Éxito or Carulla points.||This intermediary provides services for Colombian banks. Something that is not very common.||They usually have a high transaction cost.|
Credit or debit cards
If you have a credit card or debit card Visa o Mastercard, you can fund your account reliably and efficiently. There are no fees charged for this method and from Colombia the following cards are available Nequi o Bancolombia.
Skrill or Neteller
These virtual wallets have become one of the easiest ways to make online transactions. You can open your account in any of them and subsequently reload funds from a large number of sites such as the points Success, Carulla, Efecty, Baloto o Surtimax.
National bank transfer
With this method we got a really big surprise. When we tried to deposit we noticed that this broker provides support for banks available in Colombiasuch as Colpatria, Bancolombia or Banco de Bogotá.
To make use of this type of transaction you can make a wire transfer by PSE. Honestly, we have been surprised by the availability of this method for our country.
International bank transfer
Although not one of the cheapest methods, this option is worth listing due to its wide availability. A international transfer requires the conversion of funds into a foreign currency such as the euro or the dollar. This is not really a recommended option if you are at home, but if you live abroad it can be useful.
Domestic bank transfer is one of the best payment methods offered by Libertex for Colombia.
Libertex Customer Service for Colombia
- E-mail: email@example.com
- Phone: +357 22 025 100
- Live chat? ❌
At Libertex we offer several ways of contact for ask for help o resolve doubts. Additionally, once you register on the website you will be contacted by an advisor to give you general information about trading and guide you on the right path.
Don't be surprised if a foreign consultant contacts you! In our case we were attended by a young Mexican, who was very friendly and excited to talk to someone from our country.
Regarding the level of service, the service channels of this platform are efficient and are available during the hours of the day. 24 hours a day. However, the live chat option is missing. When you try to ask for help directly from the platform, the site directs you to a contact form and this is not a very practical way of communication.
Final Libertex Rating
|Pros and cons|
|✔️Easy and unverified registration||❌Low leverage|
|✔️Low Minimum Deposit||❌There are no binary options|
|✔️Deposit options for Colombia||❌High spread on some instruments|
Overall, we have had a positive experience with Libertex. On the plus side, we found their trading platformand, in particular, its demo account, available just by logging into the site and completely free of charge.
The banking options for Colombia are another element in favor of this broker. Some brokers only have international deposit and withdrawal options, so it was nice to find the names of banks from our country in the payment gateway.
Finally, the customer service is really efficient. However, email response times can be improved and something that would greatly help users would be the implementation of a live chat section.
Frequently Asked Questions about Libertex
Are Libertex services legal in Colombia?
Yes, this platform provides its activities legally, is licensed for its operation and is internationally regulated.
Can I trade on the Libertex site from Colombia?
Yes, all the content of the site can be accessed from Colombia. However, make sure you go to the Spanish site, as the English portal does not allow you to login to the platform.
How much is the minimum deposit at Libertex?
The minimum deposit is 10 USD or about 37,000 COP. This amount is one of the lowest in the industry and follows the standards of experienced brokers such as IQ Option or FxPro.