GENERAL INFORMATION | |
---|---|
Broker Name | LiteForex |
Broker Type | Forex |
Country | Marshall Island |
Operating Since | 2005 |
Regulation | Marshall Island's Business Corporation Act |
Address | Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. |
Broker Status | Regulated |
CS Phone | 8800 707 2963 |
CS Email | clients@liteforex.com |
Languages | English, Russian, Malaysian, French, Spanish, Portugese, Vietnamese, Indonesian, Thai, Chinese, Arabic |
Availability | 24/5 |
Trading Platforms | Metatrader4, Metatrader5 |
WEB TERMINAL | |
Trading Platform Timezone | N/A |
Demo Account | Yes |
Mobile Trading | Yes |
Web based trading | Yes |
Bonuses | N/A |
Other Trading Instrument | Cryptocurrency, Blue Chips, Precious Metals |
ACCOUNTS | |
Minimum Deposit | $50 |
Maximal Leverage | 1 is to 500 |
Spread Variable | 0.2 pips |
Scalping Allowed | No |
LITEFOREX REVIEW:
LiteForex is an experienced broker with over thirteen years in the brokerage business. Quite impressive! LiteForex offers stocks, currencies, indices, commodities, and cryptos. The brand offers low spreads and charges commissions only on certain trades. Trades undergo execution instantly.
LiteForex is proud of its customer activity and boasts of 300 new accounts every day and up to 500k clients from all over the world. The website is multilingual and is available in 15 languages.
Here are some of the features of trading with LiteForex, that might interest you:
Now you can imagine that, with over 13 years in the playing field, you could never go wrong with LiteForex. This broker packs various bragging rights from technological advancements to superb trading conditions.
Just take a look at the awards this broker received since it touched down on the brokering industry in 2005:
Now that’s a lot of decorations and achievements. But what makes this broker excellent is their apparent dedication to the advancement and customer care. It provides 2 MetaTrader platforms and social trading.
Let’s take a closer look at these two outstanding features.
The most important thing is that all of the broker’s branches are regulated. LiteForex Investments Ltd is registered in the Marshall Islands. Meanwhile, Cyprus Securities and Exchange Commission – CySEC authorized LiteForex EU. LiteForex branch in Europe is a Cyprus Investment Firm registered in Cyprus itself.
Also, the broker protects its clientele and investors by providing a secure trading environment. LiteForex offers its traders and Investor Compensation Fun, also known as -ICF and segregation of clients’ funds from broker funds.
The MetaTrader4 platform is the go-to platform of most forex traders. That’s simply because it was built for this purpose. However, LiteForex knows that sooner or later, traders will seek alternatives. Good thing, there’s the MetaTrader5 platform.
The trading platforms provided include:
The MetaTrader5 platform sports tons of tools, charts, and features. In a nutshell, MT4 is for forex trading, while MT5 is for other markets. Not many brokers offer this, but it’s a massive plus for them if they do. So LiteForex has an undeniable advantage here.
This broker also never misses a trick. It’s among the first brokerages to offer social trading. With social trading, you can copy the best trades you find on the platform. Or you can opt to trade independently, share information, and communicate with other traders.
For beginners who are just testing the waters, social trading is a helpful tool to learn important trading lessons before taking the plunge. It’s where they can interact with professional traders and learn the ropes quickly.
LiteForex is an interactive broker, and from time to time, likes organizing, promos, and contests for traders. Here are two types of competitions that LiteForex offers its clients.
There is no fee on the contests, and the broker returns traders’ commissions paid on deposits.
LiteForex provides two main account types for its clients, the ECN and Classic accounts. The Classic account is commission-free and offers access to the MetaTrader5 platform, where spreads float from 1.8 pips. Meanwhile, the ECN account offers lower spreads from 0.1 pips, and commissions are charged.
For all account types: USD 50 is the minimum opening balance, 100,000 is the lot size, and the minimum lot is 0.01. Besides, social trading is also available for all account holders. Take into consideration that LiteForex has a maximum leverage of 1:500. It is obtainable for international clients while European clients get a maximum of only 1:30. The types of accounts are:
Overall, LiteForex offers a pleasant trading experience and is entirely suitable for all levels of traders. It offers trading contests for fun and rewards.
The social trading community is also very active. The social trading platform is perfect for beginner traders as well as expert traders too. Entry-level traders can make trades and build strategies by copying trades. Meanwhile, experts can enjoy trading and make money from commissions they earn when their trades are copied. The MT4 and MT5 platforms are perfect for all types of traders and all trading styles.
With the advent of more advanced technologies, platforms, and strategies, we also think it’s reasonable to stick to a broker that’s always in the loop and up for the latest advancements in the trading world. LiteForex has all those qualities.
Aside from the MT4 and MT5 platforms, it also offers automated trading and an expert advisor. These let you automate your trades without having to intervene very often. You can instead focus on planning your game plan and next moves.
Besides, you can use the MT5 to trade independently, or you can use social trading and automate your positions. Whichever you choose, you got tools at your disposal. Overall, we think you would never run out of choices with LiteForex.
It’s a broker that always has your back every step of the way.
The analysis provided is comprehensive, qualitative, and very beneficial to traders as it is quite profoundly researched. There are also regular contests and promotions to encourage traders and a load of resources for beginner traders. Besides, the broker caters to investors as well as traders with around the clock support and access for cryptocurrency trading.
Here is a brief list of all the advantages and disadvantages of the LiteForex broker.
Advantages:
Disadvantages:
In the end, we hope this LiteForex review was helpful, and we wish you good luck trading!
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