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.

10 Points Summary

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.

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.

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.

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

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.

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.

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.

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.

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.