Compare FX Choice vs Libertex
What is FX Choice? What is Libertex?
FX Choice is a Belize-based broker established in 2010 and registered with the Financial Services Commission (FSC). The brand offers a wide selection of markets including crypto, plus the familiar MT4 and MT5 platforms. FXChoice stands out for its extra tools and perks, from LearnFx EAs to a VPS and Myfxbook’s AutoTrade. New users can also claim a welcome bonus upon sign-up.
Libertex is a well-known brokerage, established in 1997. The multi-regulated brand has served millions of clients and is registered with the CySEC and BaFin. Libertex offers CFD trading on 250+ instruments, including through an innovative and user-friendly proprietary web trader platform. Choose between forex, cryptocurrencies, commodities, stocks, indices and ETFs, which are available with tight spreads and low or zero commissions.
FX Choice vs Libertex Regulation Comparison
FX Choice is regulated by the FSC of Belize, which is considered a weak regulatory authority. The broker does not provide any investor protection or compensation scheme for its clients. FX Choice also does not accept clients from the US, Canada, Japan, Iran, North Korea and some other countries due to regulatory restrictions.
Libertex is regulated by the CySEC of Cyprus and the BaFin of Germany, which are both reputable and strict regulators in the EU. The broker also complies with the MiFID II directive and provides negative balance protection and a compensation fund for its clients. Libertex accepts clients from most countries except the US, Canada, Australia, New Zealand, Japan and some others.
FX Choice vs Libertex Trading Assets Comparison
FX Choice offers over 100 trading instruments across forex, indices, commodities, cryptocurrencies and shares. The broker has a good selection of crypto pairs, including Bitcoin, Ethereum, Litecoin, Ripple and more. However, the broker has a limited range of commodities and no ETFs available.
Libertex offers over 250 trading instruments across forex, indices, commodities, cryptocurrencies, stocks and ETFs. The broker has a wide range of assets to choose from, including popular stocks like Apple, Tesla and Amazon, as well as niche ETFs like cannabis and gaming. The broker also has a decent selection of crypto pairs, but not as many as FX Choice.
FX Choice vs Libertex Trading Fees Comparison
FX Choice charges variable spreads and commissions depending on the account type and trading platform. The Classic account has no commissions but higher spreads starting from 0.5 pips on EUR/USD. The Pro account has lower spreads starting from 0 pips on EUR/USD but charges commissions of $3.5 per lot per side. The MT5 account has similar fees as the Pro account but with slightly higher spreads.
Libertex charges variable spreads and commissions depending on the asset and leverage level. The broker does not charge any commissions on crypto and stocks but has higher spreads starting from 1 pip on EUR/USD. The broker charges commissions on forex, indices, commodities and ETFs but has lower spreads starting from 0 pips on EUR/USD. The commissions vary from 0.03% to 0.5% depending on the leverage leve.
FX Choice vs Libertex Account Types Comparison
FX Choice offers three account types: Classic, Pro and MT5. All accounts have a minimum deposit of $100 and a maximum leverage of 1:200 for forex and 1:25 for crypto. All accounts also have access to swap-free Islamic accounts, demo accounts, VPS service and social trading via Myfxbook AutoTrade.
Libertex offers only one account type with a minimum deposit of €100 and a maximum leverage of 1:30 for forex and 1:2 for crypto. The account also has access to swap-free Islamic accounts, demo accounts and social trading via ZuluTrade,
FX Choice vs Libertex Deposit Options Comparison
FX Choice supports a variety of deposit and withdrawal methods, including credit/debit cards, bank transfers, e-wallets like Skrill, Neteller and Perfect Money, as well as cryptocurrencies like Bitcoin, Ethereum and Tether. The broker does not charge any fees for deposits or withdrawals but may pass on third-party fees in some cases.
Libertex supports fewer deposit and withdrawal methods than FX Choice, including credit/debit cards, bank transfers, e-wallets like Skrill, Neteller and Trustly, as well as Paysafecard. The broker does not charge any fees for deposits or withdrawals but may pass on third-party fees in some cases.
FX Choice vs Libertex Trading Platforms Comparison
FX Choice offers the popular MT4 and MT5 platforms, which are available for desktop, web and mobile devices. The platforms have advanced charting tools, indicators, EAs, backtesting and customization options. The broker also provides some extra tools and features, such as LearnFx EAs, GPS robot 100k EA, VPS service and Myfxbook AutoTrade.
Libertex offers its own proprietary web trader platform, which is also available for mobile devices. The platform has a simple and user-friendly interface, with easy access to trading instruments, charts, indicators, news and signals. The platform also supports MT4 and MT5 for desktop and web users who prefer the standard platforms.
FX Choice vs Libertex Analytical Tools Comparison
FX Choice provides some analytical tools and resources for its clients, such as market news, economic calendar, trading calculators, webinars and tutorials. The broker also offers social trading via Myfxbook AutoTrade, which allows clients to copy the trades of other successful traders.
Libertex provides more analytical tools and resources than FX Choice, such as market news, economic calendar, trading signals, webinars, tutorials and articles. The broker also offers social trading via ZuluTrade, which is similar to Myfxbook AutoTrade but with more options and features.
FX Choice vs Libertex. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to which forex broker is better or which one you should choose, as it depends on your personal preferences, trading style, goals and risk appetite. However, based on the comparison of FX Choice and Libertex, here are some possible factors that you may consider:
- Regulation: Libertex has a clear advantage over FX Choice in terms of regulation, as it is licensed by two reputable and strict regulators in the EU, while FX Choice is regulated by a weak authority in Belize. If you value security and protection, you may prefer Libertex over FX Choice.
- Trading Assets: Libertex has a wider range of trading assets than FX Choice, as it offers more than 250 instruments across forex, indices, commodities, cryptocurrencies, stocks and ETFs. If you like to diversify your portfolio and trade different markets, you may prefer Libertex over FX Choice.
- Trading Fees: FX Choice and Libertex have different fee structures, as FX Choice charges variable spreads and commissions depending on the account type and platform, while Libertex charges variable spreads and commissions depending on the asset and leverage level. If you trade mostly forex and indices, you may prefer FX Choice over Libertex, as it has lower spreads and commissions. If you trade mostly crypto and stocks, you may prefer Libertex over FX Choice, as it has no commissions on these assets.
- Account Types: FX Choice offers three account types: Classic, Pro and MT5, while Libertex offers only one account type. If you like to have more options and flexibility in choosing your account type, you may prefer FX Choice over Libertex. If you like to have a simple and straightforward account type, you may prefer Libertex over FX Choice.
- Deposit and Withdrawal Options: FX Choice supports more deposit and withdrawal methods than Libertex, as it accepts credit/debit cards, bank transfers, e-wallets and cryptocurrencies. If you like to have more choices and convenience in funding your account and withdrawing your profits, you may prefer FX Choice over Libertex.
- Trading Platforms: FX Choice offers the popular MT4 and MT5 platforms, which are available for desktop, web and mobile devices. Libertex offers its own proprietary web trader platform, which is also available for mobile devices. If you like to use the standard and familiar platforms with advanced features and tools, you may prefer FX Choice over Libertex. If you like to use a unique and user-friendly platform with easy access to trading instruments and signals, you may prefer Libertex over FX Choice.
- Analytical Tools: Libertex provides more analytical tools and resources than FX Choice, as it offers market news, economic calendar, trading signals, webinars, tutorials and articles. If you like to have more information and guidance in your trading journey, you may prefer Libertex over FX Choice.
Ultimately, the choice is yours. You may want to try out both brokers with their demo accounts before making a decision. You can also read more about them on their websites or on some online reviews.
