Fri, 01/28/2022 - 17:24
Last December, Libertex announced that it was completely slashing commission, swap and exchange fees to zero on all crypto CFDs available on its platform as part of a special holiday promotion. But it was simply too good to let go since undoubtedly these are possibly the best trading conditions currently available on the market. The response from clients was so overwhelmingly positive that Libertex has decided to continue these trading conditions indefinitely.
The cryptocurrency sector is one of the most exciting areas of trading today, and Libertex is making it infinitely more exciting by eliminating some of the annoying fees that other brokers still charge. Essentially, this means that, with the Libertex platform, if you have €100 in your account, you can use your entire balance to trade crypto CFDs without wasting a big part of it on fees. That’s it! No catch, no fine print! With three different kinds of fees slashed to zero, Libertex lets traders save money that other brokers would normally charge as fees.
Libertex is possibly the only online broker to eliminate these three fees. Going forward, it plans to continue offering 0% swap, commission and exchange fees on all cryptocurrency CFD trades. These include Bitcoin, Ethereum, Litecoin, Stellar, Solana and any other cryptocurrencies on the Libertex platform. These special conditions are available for both new and existing Libertex retail clients (except UK retail clients, where cryptocurrency CFDs are not available).
How much money does a typical trader lose in broker fees?
When it comes to trading, while one can make or lose money on any individual trade, most brokers charge for their administrative services in several ways. Commission is charged for activity on a platform, such as deposits and trades. It is taken directly from the trading account's balance, usually as a percentage, and deducted before any transaction happens, whether or not the trade is successful. Swap fees are interest charged on holding a trading position overnight. Exchange fees are charged for currency and asset exchanges.
- 0% commission means that all the money you deposit for a trade will actually be used for trading. This is not the case with typical brokers, who deduct a percentage before any trading can take place. For example, if you deposit €100 with a broker that has a 5% commission fee, you will have only €95 to use for trading. When you trade crypto CFDs with Libertex, your €100 deposit will be fully used for trading. Many new traders are taken by surprise by commission amounts and end up trading less than they wanted to.
- 0% swap means that you will not be charged for holding a trading position overnight. Brokers usually charge swaps on currency pairs based on the interest difference between the currencies, so swaps are also percentage-based. However, the crypto market doesn't sleep, nor does it depend on any issuing government's time zone. Libertex recognises that it serves a large body of clients, and no one should worry about closing their crypto position by a certain time to avoid swap fees.
- 0% exchange fees mean that you won't be charged for exchanging cryptocurrency, whether to fiat money or other crypto CFDs, on Libertex. Most exchanges will charge a percentage-based fee for this, limiting a trader's flexibility.
So, what does it actually cost someone to trade crypto CFDs on Libertex?
The only thing a trader would pay on a crypto CFD trade with Libertex is the spread (the difference between the Ask and Bid prices). In other words, traders can expect to save a substantial amount of money with Libertex when making multiple trades, overnight trades, high-volume trades and more.
Fewer fees, more freedom in trading crypto CFDs
It is only natural for traders to do their best to minimise or avoid fees, but in the fast-moving crypto market, this can restrict their flexibility in responding to trends or cause unnecessary stress. Feedback from crypto CFD traders on Libertex indicated that they need cryptocurrency trading to be faster, more flexible and more friction-free than classic forex trading. By eliminating three different kinds of fees, Libertex continues its mission to make trading accessible for everyone and provide its clients with high-quality assets such as crypto CFDs and more.
Trade for More with Libertex
With over 24 years of financial market experience and more than 40 international awards, including most recently Best Trading Platform (Forex Report, 2021) and Most Trusted Broker of Europe (Ultimate Fintech, 2021), Libertex has been one of the leading platforms combining classic market expertise with cutting-edge technology, designing user-friendly software that makes the market accessible from any device, anywhere, anytime. Used by everyone from professional traders to complete beginners (who can start with a practice demo account), Libertex features a full range of tools and information in order for its clients to get the most out of the platform.
It only takes a few seconds to register with Libertex and enjoy the potential advantage of these unique crypto CFD trading conditions as well as a full range of stocks, commodities, and forex CFDs. Say goodbye to crypto CFD commissions for good and sign up to trade with Libertex!
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.3% of retail investor accounts lose money when trading CFDs with this provider. Tight spreads apply. Please check our spreads in the platform. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Cryptocurrency instruments are not available to retail clients in the UK.
Available for retail clients on the Libertex Trading Platform.
