62.2% of retail investor accounts lose money.
Libertex platform is providing access to crypto CFDs with zero commission fees and tight spreads.
Cryptocurrencies are soaring in popularity day by day. As its popularity rises, so does the number of users who want to get their hands on it. But crypto trading is not as easy as it sounds on paper.
Many are unwilling to trade cryptocurrency because of the hefty commissions and fees. Some platforms take a chunk of your profits if you are regularly engaged in buying and selling.
Some crypto trading platforms have reduced or even eliminated their fees to deal with such scenarios. However, are the platforms that advertise zero commission legitimate?
Let us look at Libertex, a stock and CFD trading platform, and how it tries to legitimately achieve this.
What is Libertex?
Libertex is an online broker that provides CFD trading. Some of its underlying assets are commodities, foreign exchange, ETFs, and cryptocurrencies.
Part of the Libertex group was founded in 1997, serving millions of users within EEA and Switzerland.
Moreover, the platform has emerged as one of the best CFD providers. In fact, Libertex has received huge recognition;
- “Best CFD broker in Europe“ – Global Brands Magazine (2022)
- “Most trusted broker in Europe” – Ultimate Fintech Awards (2021)
It’s remarkable to come across a CFD broker that can boast such accolades.
“We are, indeed, known as a broker you can trust, and this is a huge draw for many, especially in the context of CFDs on cryptocurrencies. But our competitive advantage goes far beyond mere honesty and choice of underlying assets. One of the key positives we constantly hear from clients is the quality of our platform.”Said Mario Chailis, Libertex’s Chief Marketing Officer
What are CFDs?
In a contract for difference (CFD), the buyer and the seller agree that the seller will receive the difference between the asset’s current value and the value at the time of the contract. CFDs provide traders the chance to profit from price fluctuations without having to hold the underlying assets.
CFD trading is when traders trade the price change during the entry and exit. It doesn’t consider the current value of that asset.
How do platforms provide zero-commission CFD trades?
To ensure that the day-to-day activities are met, most of the platforms levy a commission or fees on every single trade. The fees vary for each activity. You have deposit fees, withdrawal fees, maker fees, taker fees, trading commissions, and listing fees.
But platforms also include the bid-ask spread, and that’s why they can provide zero-commission trades. This is actually not a fee levied by the platform but the difference between the highest and lowest price that the buyer puts on the table.
Libertex’s zero commission on crypto CFD trades
Libertex provides zero commission through its promotional offer. For users to avail of this offer, they have to make a €100 deposit. Users can utilize the deposit to make crypto CFD trades.
Libertex offers crypto CFD trading with zero exchange fees, swap fees, and commissions. It sounds great, doesn’t it?
Traders should keep in mind that the spread is not zero. However, Libertex is offering tight spreads. When the gap between the asking price and the bid price is small, the spread is said to be tight or narrow.
How to use this opportunity with Libertex?
To make the most of this offer by Libertex, follow the steps below to get started:
- Fund your Libertex account. You can make a bank deposit or a credit card deposit. Credit card deposits will be free from any fee.
- You must deposit a minimum of €100 or any higher amount you wish to use for trading.
- You can use the balance to trade various underlying assets, including BTC, ETH, and other prominent cryptos on the platform.
Trading CFDs is complex and risky. Even though Libertex provides a user-friendly platform, ensure that you do your research. CFDs are complex instruments with a high risk of losing money. Ensure you understand CFDs and the associated risks before beginning to trade.
High commissions and trading fees come as a hindrance for crypto traders.
Libertex’s zero commission initiative can come as a big relief, especially when you are making multiple trades. In addition, you get to choose from over 70+ popular crypto CFDs to trade.
If you are looking for a reliable, user-friendly platform with years of trust and experience in the industry, Libertex is definitely the place you should look into.
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Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62.2% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Tight spreads apply. Please check our spreads in the platform.’
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.