Libertex Canada Review 2024 - TU expert opinion
Is the Forex market legit in Canada?
Forex market is well developed in Canada, and trading currencies online is a part of an investment plan of thousands of Canada residents. The operation of the financial organizations is regulated by the CSA, Canadian securities market regulator. Also, retail Forex transactions are supervised by the Investment Industry Regulatory Organization of Canada (IIROC), which was established in 2008.
There are certain specifics and restrictions for Forex trading in Canada. For example, bonuses are not available to traders. CFD trading is not allowed in Canada. Another important factor is the licensing possibility in certain regions. A company is considered a legal broker if it obtained a license for financial activity in one of the regions.
How to Trade Forex in Canada
When choosing a broker, take into consideration the license of a financial regulator, choice of instruments, conditions and minimum deposit requirements. Once you’ve made the choice, register on the website of the brokerage company, verify your account and make a deposit to your trading account. After that you need to download and install a trading platform and the mobile app. The next steps are choosing a currency pair, a trading lot and making a trade.
Our Evaluation of Libertex
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Libertex is a reliable broker with the TU Overall Score of 7.54 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Libertex clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews showed that the broker’s clients are mostly satisfied with the company.
Libertex is a reputable broker. It would be worthwhile to look at the platform as a technical solution. It will appeal to those who can not imagine their life without gadgets and are eager to keep up with the time.
Detailed Review of Libertex in Canada
Libertex is a good choice for traders from Canada. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.
Libertex is an online CFD and trading broker which is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF Licence number 164/12. Libertex platform is available in web and mobile versions for devices operating on iOS and Android. Also, trading through MT4 and MT5 is available.
Advantages of Libertex for trading in Canada
Traders Union analysts conducted a detailed analysis of Libertex for traders from Canada. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:
usability of the platform: there are versions for PC, mobile devices and a web option;
over 300+ trading underlying assets;
variable transaction fees.
Analysis of the Main Features of Libertex in Canada
Traders Union analysts analyzed the key features of Libertex for traders from Canada. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for Libertex traders from Canada
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of Libertex trading conditions for traders from Canada. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
💻 Trading platform: |
Libertex, МТ4, МТ5
|
---|---|
📊 Accounts: |
Libertex (Demo, Real, Invest), МТ4 (Market, Market Pro), МТ5 (Market, Instant)
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💰 Account currency: |
EUR, GBP, PLN, CHF
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💵 Replenishment / Withdrawal: |
Bank cards electronic payment systems, Internet banking, bank transfers
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🚀 Minimum deposit: |
100 EUR
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⚖️ Leverage: |
Up to 1:30 for retail clients
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💼 PAMM-accounts: |
No
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📈️ Min Order: |
0,01 for MT platform, 20 eur for Libertex platform
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💱 Spread: |
From 0.1 p
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🔧 Instruments: |
300+ CFDs on stocks, indices, commodities, metals, cryptocurrencies, ETFs, and commodities
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💹 Margin Call / Stop Out: |
50/50
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🏛 Liquidity provider: |
MarketPlace
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📱 Mobile trading: |
Yes
|
➕ Affiliate program: |
No
|
📋 Orders execution: |
Market Execution, Instant Execution.
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⭐ Trading features: |
No
|
🎁 Contests and bonuses: |
No
|
Libertex Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by Libertex for traders from Canada. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
TU experts have analyzed Libertex trading conditions. The broker's fee policy is flexible, that is spreads are charged on all account types, and fees in the form of percentage of the trade amount are charged on some account types.
Account type | Spread (minimum value) | Withdrawal commission |
Libertex Real | From 0.1% | Yes (PayPal or Skrill – No) |
МТ4, МТ5 Market | From 0.1% | Yes (PayPal or Skrill – No) |
МТ5 Instant | From 0.1% | Yes (PayPal or Skrill – No) |
A comparative analysis of the trade commissions in Libertex with similar indicators of competitors was performed. Based on the comparison, each broker by this criterion was assigned a level from low to high.
FAQs
Is Libertex legal in Canada?
Yes. Libertex operates legally in Canada. The broker holds the necessary licenses.
Can you learn trading with Libertex? Does the broker offer courses for traders from Canada?
Yes, Libertex offers good trading courses and a lot of educational information for clients from Canada.
Can Libertex be trusted? Has the broker been operating in Canada long?
Libertex has been operating in Canada quite long and has a good reputation. Therefore, traders can work with Libertex.
Is Libertex suitable for novice traders from Canada?
Yes. Libertex offers optimal trading conditions and good education for beginners from Canada.
How efficient is Libertex customer support in Canada?
Libertex offers a sufficient number of ways to contact customer support in Canada, and also provides support in the state language.
Has Libertex had any incidents involving theft of funds of clients from Canada?
No. Libertex provides reliable security of funds of clients from Canada.
Will I be able to file a lawsuit in Canada if Libertex violates my rights?
Yes. If Libertex violates your rights, you can file a complaint with the regulator of Canada, and then with a court.
Can Libertex clients from Canada use the broker’s mobile app?
Yes. The mobile app of Libertex is available for the clients from Canada.
Does Libertex provide Canada market analysis?
Analysis of Canada is featured in the information provided by Libertex.
How can I withdraw funds from my account at Libertex in Canada?
Libertex supports bank transfers and debit/credit cards of the banks operating in Canada.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.