LiteForex Broker Reviews and Full Information

What is LiteForex?

LiteForex A broker to trust is a registered Forex broker which began its business in 2005. The company's headquarters is on the Marshall Islands having its widespread branches across the world , including those in the Philippines, Kenya, Myanmar, Tanzania, Ghana, Nicaragua, India, Indonesia, Vietnam, Iran, and Lagos, Nigeria. It is widely regarded as the first broker to start accounts opening by only making deposits in dollars one. LiteForex is home to around five lacs of customers across the globe. LiteForex is a broker for currencies and commodities, stocks and indices as well for cryptocurrencies.

Pros

Cons

Global expansion, including countries such as those of the Philippines, Kenya, Myanmar, Tanzania, Ghana, Nicaragua, India, Indonesia, Vietnam, Iran, and Lagos, Nigeria.

Customers cannot avail services coming from Israel, Japan, and the United States of America.

The customer reviews have improved in 2021.

Commission fees aren't the least expensive

The variety of assets and trading tools

 

Market analysis app that is comprehensive for mobile phones.

 

 

 

 

10 Points Summary

 

   

Headquarters

Marshall Islands

Regulation

CySec and MIBS

Platforms

MetaTrader 4 and MetaTrader 5

Instruments

Forex, Metals, Oil, and Global Stock Indices

EUR/USD Spread

2.2 pip

Demo Account


Available

Minimum deposit

$50

Base currencies

USD, EUR, CHF, RUB, MBT

Education

It is provided. Tools for trading and Analysis

Customer Support

24/5 - beginning at 00.00 on Monday to 23.59 at night on the Friday (GMT+2)

 

What kind of broker is LiteForex?

LiteForex has a stellar name in the brokerage market. It has the status of being one of the best brokers and is reliable to invest in after being rated by its clients. It allows its clients to enjoy favorable terms in the trading of forex, CFDs as well as Bitcoin as well as offers its customers with the platform of MetaTrader 4 and MetaTrader 5. LiteForex has a wealth of expertise in the broker industry , and provides a solid backup.

Awards

LiteForex has had a great time since its beginnings within the trading markets and has always been striving to offer better services for its customers. Their constant efforts have earned them with some prestigious titles like:

The Best ECN Broker. Best Copy Trading Platform Best forex trading Platform with the best Affiliate program The Best Foreign Exchange Retail Service Provider the best forex broker available in Nigeria Best Client Service The best broker for Africa -- World Finance "Top 100" Best PAMM Service The best customer support throughout Latin America | Best broker in Africa the best broker online for Latin America.

 

 

Is LiteForex secure or is it is it a fraud?

It is true that LiteForex can be described as a secure and secure marketplace for trader. The actual base of the company is Cyprus however, it is established in accordance with CySec regulation obligations. They also offer an assurance of compliance with the MiFID Directive in Europe.

Pros

Cons

The regulation is carried out by CySec

It is not listed on the Stock Exchange

Separated accounts

 

European clients are being secured

 

 

Is LiteForex legitimate?

LiteForex is legitimate and legal as can be seen by the numerous accolades it has won from experts in financial publications for providing the most efficient brokerage services as well as an excellent trading platform. Furthermore, registration of the company is governed by the law and rules. As the broker has extensive experience in this area his services offered by him are legally enforceable as well since they are subject to audits by an external auditor.

What are the best ways to protect yourself?

To ensure security you must always monitor the state of regulation that are considered as the most crucial step. This ensures that fair treatment given to the customers. This is based on international regulations and laws with officials in the back to safeguard the rights of those who operate.

The operation and services offered from the broker subject to an ongoing review by the regulator. Hence, when you trade through the LiteForex Cyprus entity an individual may contact CySec should any kind of violence that occurs. In addition the funds of traders are kept separate from those of a corporation, as well as applying the typical covers for the investment protection.

Leverage

Because LiteForex is a European-based broker and the traders from all over the world out are able to avail an offer with a high leverage rate that's as high as 1:500 for forex instruments, while on the other hand, LiteForex is also a broker that is compliance with ESMA standards that have less leverage.

The maximum leverage is 1:500. This is allowed for international customers.

An maximum limit of 1:30 could be used in European traders.

Accounts

LiteForex offers two accounts, from which a person can select the one that suits him best for his trading needs and then proceed to the process of registration.

Pros

Cons

It's a virtual account that is able to be opened in just a couple of minutes

The conditions differ between entities

There are two types of accounts: ECN and Standard. Standard

 

The minimum deposit is rather small

 

It offers a demo account that is free and also a deposit for free.

 

 

Types of accounts

The two accounts that are the main ones are provided by LiteForex which are "Classic" which is commission-free and the other"ECN "ECN" which is commission-based. In both instances the deposit should be at minimum $50. Also, there is the availability of an Islamic account, which can be provided on an inquiry. The distinctions between these two accounts can be described in:

Classic Account

A trader who has enough experience is able to hold the Classic account, where there is no compensation for excess or commissions paid. In this case it is possible to access MT4 as well as MT5 trading platforms is guaranteed.

ECN Account

The full name of ECN can be described as "Electronic Communications Network" which is specifically designed for investors and traders on a professional scale. An 2.5 percent interest rate is available for any surplus funds in the account, as well as a limitless period of transactions. When you have an ECN account the liquidity providers receive the transactions, and ECN account holders are able to be assisted by the trading platform MT4.

 

 

Fees

The fee conditions specified will be communicated to the trader in accordance with the account type that was selected. These fees are dependent on a an amount per lot of payoff commissions and an interbank spread that starts at zero pip, as well as the spread that begins from 2 points.

Pros

Cons

The fee conditions can be flexed depending on the kind of account.

In comparison to different brokers, the spread for forex is quite high

The commission is extremely low.

 

 

The Find We Made on Forex charges

If you go to the Standard account with a floating spread, the average 2.2 that is applicable to EUR USD pairs is available to you however, on the contrary there is there is only 0.1 for the same pair, with an additional $10 commission offered for ECN account.

However, the spread of the standard account may be somewhat higher than other proposals in the industry. However, make sure to review all trading deals regularly so that a fairly high spread can also be an excellent value.

Comparison of LiteForex charges and other similar brokers

Asset/ Pair

LiteForex Fees

XM Fees

FP Markets Fees

EUR USD

2.2 Pips

1.6 pip

0.7 Pips

Crude Oil WTI

3 pip

5 pip

3 pip

Gold

11.0

35

16 cents

Inactivity fee

Yes

Yes

Yes

Deposit fee

No

No

No

Rating of the Fee

High

Average

Low

 

What exactly is LiteForex commission?

The spread is different for brokers, however, generally the spread will typically be 3 pip.

Instruments
The majority of currency pairs that showcase the major exotic, minor and major pairs are available under LiteForex. Additionally, there is the possibility of trading other instruments as well, such as 20 cryptocurrency assets, two oils and 11 indices, as well as four metals, and transactions of the 41 stock through the US exchange.

 

 

Deposits and Withdrawals

There are a variety of payment options that allow their customers to carry out the funding of their accounts. Some are free, while others cost fees. Transferring money from or into the account depends on the resident of the trader and other policies which are enforced by LiteForex.

Pros

Cons

Very low deposit of $50

In accordance with the jurisdictional law There could be an application of fees

An extensive range of deposit options and the ability to support base currencies

 

The deposit is absolutely free

 

There are no withdrawals in the amount of $0

 

 

Deposit Options

A few suggestions can be provided by customer support when a customer is looking for assistance or simply choose one of the options for him that are accessible to him in the area he lives in. There are a variety of options to choose from:

E-wallets, including Neteller and Skrill

Bank wire transfer,

Credit cards or debit cards

 

What is the minimum amount to deposit for LiteForex?

As we've discussed previously that both kinds of accounts, regardless of whether it's the ECN or a regular accounthas a minimum amount required is $50 for the first period, however for the ECN account also comes with the option of $100 to allow us to take advantage of this fantastic opportunity. It is also suggested to examine and verify the of the conditions and requirements for your margin on the exact instrument that is going to be traded.

 

Withdrawals

The amount of fees that are withdrawn is contingent and differs from option to option. There is the possibility of an increase of mark-up , or no fees in certain instances.

Trading Platform

Since LiteForex is a well-known name in the world of trading, and has established technology, it is one of the best options for traders with different strategies and sizes. The range of trading platforms such as MT4 and MT5 isn't something you should be amazed by.

Pros

Cons

Platforms that are available include MT4 and MT5

It is not possible to access an exclusive platform

Its design is user-friendly

 

Clear view and fee report

 

 

Web Trading Platform

One of the two renowned trading platforms are MT4 and MT5 don't require any introduction. They also come in various versions that don't require an installation, and access is easy, as is via Web Trading.

 

Desktop Platform

The desktop platform is utilized for comprehensive analyses and trading on day. On whatever device you use, whether it's PC or MAC, LiteForex can easily operate. Furthermore it also has an improvement in features like trading on social networks and automated trading with strategies that do not have any limitations.

 

Mobile Platform

In the mobile trading platforms traders have the benefit of notifications, alerts, and complete control over his account for trading, whether the user is an iOS user or an Android user.

Customer Support

Another advantage is the availability of customer support via email, phone, chats online, as well as 24 hours of support.

Pros

Cons

The use of different languages

None

Rapid responses

 

 

Education

LiteForex offers tutorials, articles as well as fundamental and technical analysis that are further complemented by strategies for managing money and trading as well as a glossary and library on its website for customers to help them understand on the way LiteForex and trading work.

Pros

Cons

Learning materials along with research and learning tools is offered

None

A variety of concepts about the trading market and Social Trading

 

 

 

Conclusion

This review highlights the lengthy background of LiteForex the way in which its processes are conducted and the best conditions for various types of trading, experiences and account sizes. The prices are affordable when we compare them against other companies in the market, as well as the availability of these amazing tools for analysis and other technological solutions.

 

Summary
Properties Values
Name
LiteForex
Minimum Diposit
$ $50
Leverage
1:500
Regulation
CySEC, MIBS,,,,,,,,,,
Headquarters
Cyprus
Established
2008
Address
First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines
Platform
MT4,MT5,,,,,,,,,
Payment Method
Visa,Mastercard,Wire,Skrill,Neteller,,,,,,,,,
Overview
Properties Values
Spreads
2.2 pips
Min Position size
0.01
Broker Type
STP (Straight Through Processing),,,,,,,,
Account Type
Scalping,,,,,,,,,
Brokers by Country
All Offshore Brokers,,,,,,,,,
Techniques
Scalping Forex Brokers,Spread Betting Brokers,,,,,,,,,
Instruments
Forex Trading Brokers,Gold Trading Brokers,CFD Trading Brokers,Stock Trading Broke,Oil Trading Brokers,,,,,,,,,
Account currency
USD,EUR,AUD,BSD,CAD,,USD,,USD,,USD,,USD,,USD,,USD,,USD,,USD,
Tools
Economic Calendar,Charting Software,Pip Calculator,Margin Calculator,Profit Calculator,,,,,,
Website Languages
en,,,,,,,,,
Support languages
en,,,,,,,,,
Bonus
No
Reviews Rating
5.00
Withdrawal Fee
Yes
Trading Signals
No
Free Education
Trading tools and Analysis
Daily News
No
Demo account
Available
Swapsr
No
Pors
1. Mainstay on MT4 and MT5 platforms
2. Customer friendly design	
3. The Comprehensive range of tools	
4. Automated trading capabilities and Social Trading	
5. Clear look and fee report
Cors
1. No proprietary platform
Display Analysis
Yes
Serving country
AF,AL,DZ,AS,AD,AO,AI,AQ,AG,AR,AM,AW,AT,AZ,BS,BH,BB,BY,BE,BZ,BJ,BM,BT,BO,BA,BW,BV,BR,IO,BN,BG,BF,BI,KH,CM,CA,CV,KY,CF,TD,CL,CN,CX,CC,CO,KM,CG,CD,CK,CR,CI,HR,CU,CY,CZ,DK,DJ,DM,DO,TP,EC,EG,SV,GQ,ER,EE,ET,FK,FO,FJ,FI,FR,FX,GF,PF,TF,GA,GM,GE,DE,GH,GI,GR,GL,GD,GP,GU,GT,GN,GW,GY,HT,HM,VA,HN,HK,HU,IS,IN,ID,IR,IQ,IE,IL,IT,JM,JP,JO,KZ,KE,KI,KP,KR,KW,KG,LA,LV,LB,LS,LR,LY,LI,LT,LU,MO,MK,MG,MW,MY,MV,ML,MT,MH,MQ,MR,MU,YT,MX,FM,MD,MC,MN,MS,MA,MZ,MM,NA,NR,NP,NL,AN,NC,NZ,NI,NE,NG,NU,NF,MP,NO,OM,PK,PW,PA,PG,PY,PE,PH,PN,PL,PT,PR,QA,RE,RO,RU,RW,KN,LC,VC,WS,SM,ST,SA,SN,SC,SL,SG,SK,SI,SB,SO,ZA,GS,ES,LK,SH,PM,SD,SR,SJ,SZ,SE,CH,SY,TW,TJ,TZ,TH,TG,TK,TO,TT,TN,TR,TM,TC,TV,UG,UA,AE,GB,US,UM,UY,UZ,VU,VE,VN,VG,VI,WF,EH,YE,YU,ZM,ZW,,,,,,
Not Serving country
US,,
Contests
Yes
Market analysis
No
Copy Trading Brokers
Yes
Bitcoin Forex Brokers
No
Social trading
No
Web trading
No
Forex pairs
No
CFDs
Yes
Crypto
No
Hedging
No
PAMM
PAMM,MAMM,Myfxbook Auto trade,Mql5 signals,,,,,,
Mobile Trading
Yes
Scalping
Yes
Automated Trading
Yes
Partnership Programs
Yes
Free Phone
+357-25-750-555
Customer Support
24/5
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