LiteForex Review 2023

Today, Liteforex offers three trading platforms in both demo and real accounts. These trading platforms include; MetaTrader 4 , MetaTrader 5 , and the web-terminal. Traders registered at LiteForex can avail of a safe, secure, and user friendly platform for high-speed online trading. It supports 15 languages and offers a wide range of trading tools and popular trading platforms such as MT4 and MT5. Our company was founded in 2005 to make the Forex market accessible, safe, easy and profitable for traders from all over the world. Guided by those purposes, we were the first to introduce cent accounts with the initial deposit of as little as $1, thus making Forex available to thousands of clients.

The HTTPS data encryption protocol used in Personal Profiles liteforex brokers safe data transfers between the client and the server and excludes any acts of the client’s personal data interception. In contrast to the lack of variety in trading accounts, and disruption of servers in some cases, can be considered among the weaknesses of this broker. Therefor, after opening a classic account, Muslim users can change their account to an Islamic account by submit a request to the broker. Also, this broker provided free download applications for clients to trade through smartphones & tablets . Therefore, this action is the biggest initiative of liteforex broker, which was followed by other reliable brokers in the world.

Having thoroughly researched this broker and traded on its platforms, we have no hesitation in recommending it. I would just like to inform anyone who’s planning to join their demo contest. I am telling you as early as now that It would be a waste of your precious time. I joined their April month contest and I manage to win the 1st place with supposedly I am to receive a $4000 bonus that I can use for trading.

Aside from the demo account, which is always a welcome addition, there is a cent account, a classic account, an ECN account, and a PAMM account. LiteForex offers customer support 24/5 via email, telephone, and live chat. However, one has to register an account to access the live chat service. For the purposes of this review, we found customer support to be slow and sometimes unresponsive.

The best customer service

Although it is essentially unregulated, LiteForex segregates all client funds and provides traders with negative balance protection. Therefore, trading with LiteForex Cyprus entity you can refer to CySEC in case of any violence, while the regulator himself constantly checks on the operation and environment the broker provides. Also, traders’ funds are segregated from company funds, and the application of the standard covers investment protection. For the negative points, spreads are high for stock trading, international trading is done through an offshore entity in St. Vincent and the Grenadines and there are negative experiences from some traders. The market range overall is quite narrow and limited to only FX and CFDs; there is no crypto trading at all. Overall, LiteForex has great trading conditions with various trading instruments, useful research, and popular platforms.

• I also told them that I never used M1 TF for my scalping strat and this person responding to me via email from their trading department told me, how come you’ve made about 20 trades in a day?
• Forex majors are charged at $10 per lot and forex minors are charged at $30 per lot.
• How can global broker shut down its services for about 10 days now?
• In-house analysts and traders produce all forex fundamental analytical reports.
• LiteForex has more than 10 years experience in the industry, so they must be doing something right.

For trading in broker liteforex, the trader can start activity with different types of accounts. In the following, we provide complete information about the types of accounts. To suit the needs of a wide range of clients LiteForex offer a good variety of accounts.

Liteforex Broker Review

LiteFinance is a regulated broker that gives its clients simple access to trade the markets online. You can buy and sell various CFD instruments on the powerful MetaTrader platforms that are well known for being simple, robust, sophisticated and suitable for traders of all experience levels. I find the platforms to have a fantastic selection of trading tools that are ideal for creating complex strategies and conducting chart analysis.

LiteForex has created its own proprietary social trading platform. The automated copy-trading system will allow you to duplicate the best trades, trade independently, share information, and communicate with other traders. Liteforex provides a list of the most profitable traders, with their performance profiles from which followers can choose. LiteForex caters to beginner traders by providing them with extensive educational material in their comprehensive education centre. Traders have access to a Forex glossary, eBooks, tutorials, trading strategies, trading indicators, and a blog with loads of helpful information. In addition to the educational resources, traders also have access to an economic calendar, analytics, various financial calculators, economic news, and currency rates.

It made me think if these people really know a lot about trading? How could a representative from a brokerage firm has too little knowledge about trading? Anyway, I kept questioning them for this unethical move towards winning their demo contest. I even told them that this happened to a demo contest only, what more if I was already trading a real account. They even accused me of using a lagging EA which they said the reason I was able to determine almost every slippage.

A variety of payment systems for fast depositing and withdrawal of funds

So always make sure to learn better under which entity you trade and what protection conditions apply to you, but it would be better to open an account under European ESMA regulations. This technology currently is the leading solution that provides extremely fast execution speeds and the most favorable quotes with spreads from 0.0 pips allowing you to benefit from it. Download MetaTrader 4 trading platform for your smartphone or computer and get access to the Forex market from wherever in the world. Demo accounts are freely available if you are a beginner and wish to to try out the various platforms and trading conditions available before opening a real trading account with LiteFinance. The MetaTrader platforms are already packed with plenty of tools that should be enough for most traders. You can get loads more from the MQL marketplace within the platform and use the MQL editor to develop your own.

• LiteFinance is an online broker that offers CFD trading on financial instruments via the popular MetaTrader platforms.
• In addition to desktop versions of MT, Liteforex customers can use WebTerminal to trade directly through the browser on any computer anywhere in the world without having to install a desktop version.
• Whenever there is a trade from a copied trading signal, the trades are replicated in the copier’s account.
• Analytics – Get fresh reviews of news and market instruments by professional analysts.

Our experts checked the educational proposal of LiteForex and found that the broker supports personal strives and provides learning materials, analysis, and guides. This is done through the educational section on their website presenting four sections that help to become a better trader that diverse to a different levels of traders. It offers a wide range of forex glossaries, books, tutorials, and dofferent strategy testers. MetaTrader 4 is a popular Forex trading and analysis platform, which allows trading currencies, shares, precious metals and CFD on stock indices. In this section, LiteFinance clients can download MetaTrader 4 trading platform and its mobile applications for PDA, iPhone®, iPad ™ and Android. This is the flagship account designed for experienced traders who require the speed and power of ECN trading.

And they have been included in the UK’s leading financial magazine ‘World Finance’ top 100 list. An impressive array of analytical tools, available in nine timeframes for each financial instrument. However, traders are required to submit an electronic form of identification to make withdrawals in line with Anti Money Laundering rules. Malaysians will be trading under the subsidiary, Litefinance Global LLC, authorised and regulated by the Financial Services Authority of St. Vincent and the Grenadines .

Liteforex LTD is registered as a Cyprus Investment Firm, authorised and regulated by Cyprus Securities and Exchange Commission and acts in accordance with the Markets in Financial Instruments Directive . Liteforex LTD is a member of the Investor Compensation Fund, which guarantees that all of its clients’ funds are secured and insured . Liteforex LTD is registered in accordance with the requirements of the following countries’ regulatory bodies. The minimum deposit to open either Lite Forex Classic or Lite Forex ECN accounts is $50. We believe your money is waiting for you in your trading accounts. Lite Finance (ex. Lite Forex) offers platforms available in MetaTrader 4 , MetaTrader 5 and LiteFinance proprietary mobile apps.

Broker Types

The https://forexhero.info/ platforms are very popular with online trading because of the multiple features implemented, trading tools and extension capabilities. MetaQuotes Software Corporation; a trading software company, developed the MT4 in 2005 and the MT5 in 2010. Since then, the MetaTrader platforms have become one of the standard platforms for online forex trading. LiteForex provides their traders with a variety of deposit and withdrawal methods for convenient Forex trading. All of the same methods used to deposit funds can be used to withdraw funds. Deposits are free of charge and withdrawals are subject to withdrawal fees.

MetaTrader 4 – A popular market analysis and trading platform, MT4 allows trading shares, currencies, CFDs on stock indices, and precious metals. You can download the MT4 platform for desktop as well as the MT4 apps for Android, iPad, and iPhone. Liteforex was the first broker that break away from the main methods of structure of large brokers and introduce accounts with a minimum deposit of $1. All account types at LiteForex have a $50 minimum deposit limit. This includes the broker’s ECN account and the Classic account, both in and outside of the EU.

We strongly suggest choosing a broker that has gained a high score through excelling in all departments instead. To learn more about how we test and recommend brokers, read our methodology. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Overall, Liteforex provides a comprehensive education section that is frequently updated. A built-in library of more than 50 indicators and tools to streamline the analysis process. Unlike other brokers that require extensive KYC documents due to strict regulatory oversight, LiteForex simply asks for an email address and password.

When you wish to withdraw money, you must do so using the same method used to deposit it, and it must go into the same account. This reduces the risk of your money being stolen by a third party. Different levels of verification are required depending on the size of the amount being withdrawn. The educational resources available through Liteforex are first rate.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions. A dropdown menu on the front page of the website takes you to the registration page. This consists of a simple form where you can enter your name and contact details.

LiteForex has three simple account types that are both more to beginners than experienced traders. Beginner traders are inexperienced traders who have never traded before, or who have been trading for less than a year. Beginner traders often do not want to risk trading large sums of money and generally will not be able to trade full-time during the workweek. Our experts found out that the broker’s platform offerings include the full suite of MT4 and MT5 platforms. The choice of trading platforms between MT4 and MT5 is not a surprise as being an industry popular and recognized technology it is indeed one of the best choices for a various size or strategy traders. Spreads offered by LiteForex are tight and good for the forex industry.

LiteForex offers a limited number of payment methods, and while LiteForex charges no commissions on deposits, it charges fees for most withdrawal methods. Furthermore, the platforms are enhanced with automated trading and social trading capabilities with no restrictions on strategies, also additional complex order types. Our research showed that the broker offers a wide range of funding methods, while some of them include fees others are free of charge. Also, money transfers to or from the account depending on your residency and its applicable policies, in addition to entity rules of LiteForex that apply.