The Libertex platform provides access to cryptocurrency CFDs with zero commission fees and tight spreads.
Cryptocurrencies are gaining popularity day by day. As its popularity increases, so does the number of users who want to get their hands on it. But cryptocurrency trading is not as easy as it seems on paper.
Many are unwilling to trade cryptocurrencies due to high commissions and fees. Some platforms take a portion of your earnings if you regularly engage in buying and selling.
Some cryptocurrency trading platforms have reduced or even eliminated their fees to deal with such scenarios. However, are platforms that advertise zero commissions legitimate?
Let’s take a look at Libertex, a stock and CFD trading platform, and how it legitimately tries to achieve this.
What is Libertex?
Libertex is an online broker that offers CFD trading. Some of its underlying assets are commodities, currencies, ETFs, and cryptocurrencies.
Part of the Libertex group, it was founded in 1997, and serves millions of users within the EEA and Switzerland.
Also, the platform has become one of the best CFD providers. In fact, Libertex has received great recognition, listed below:
- “Best CFD Broker in Europe” – Global Brands Magazine (2022)
- “Most Trusted Broker in Europe” – Ultimate Fintech Awards (2021)
It is remarkable to come across a CFD broker that can boast such accolades:
“In fact, we are known as a broker you can trust, and this is a huge draw for many, especially in the context of cryptocurrency CFDs. But our competitive advantage goes far beyond mere honesty and choice of underlying assets. One of the key positives that we constantly hear from customers is the quality of our platform,” claims Mario Chailis, Libertex Marketing Director.
What are CFDs?
In a contract for difference (CFD), the buyer and seller agree that the seller will receive the difference between the current value of the asset and the value at the time of the contract. CFDs give traders the opportunity to profit from price fluctuations without having to hold the underlying assets.
CFD trading is when traders trade the price change during entry and exit. It does not consider the current value of that asset.
How do Platforms Provide Commission-Free CFD Trading?
To ensure day-to-day activities are met, most platforms charge a commission or feeS on every trade. Rates vary for each activity. It has deposit fees, withdrawal fees, and maker fees, taker fees, trading fees, as well as listing fees.
However, the platforms also include the bid-ask spread, and that is why they can offer commission-free trading. Actually, this is not a fee charged by the platform, but the difference between the highest and the lowest price that the buyer puts on the table.
Libertex zero commission on Cryptocurrency CFD trading
Libertex offers zero commissions through its promotional offer. In order for users to benefit from this offer, they must make a deposit of 100 euros. Users can use the deposit to trade cryptocurrency CFDs.
Libertex offers cryptocurrency CFD trading without exchange fees, swap fees, and commissions. Sounds great, doesn’t it?
Traders should note that the spread is not zero. However, Libertex offers tight spreads. When the gap between the selling price and the buying price is small, the spread is said to be “tight or narrow”.
In short, high commissions and trading fees are a hindrance for crypto traders.
Libertex’s zero commission initiative can be a huge relief, especially when you’re doing multiple transactions. Additionally, you can choose from over 70 popular cryptocurrency CFDs to trade.
By Audy Castaneda
