Profit from changes in the price of currencies, precious metals, commodities, cryptocurrencies, indexes, and stocks. Promote the LiteFinance brand as our partner and earn up to 70% of spreads per attracted client. Trade in various assets using built-in analytics and signals to predict price movements.
- However, because LiteForex only
provides trading in the forex markets, both platforms will do.
- Additionally, the website is multilingual together with the live chat which is available 24/5 in 22 languages.
- He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.
- However, traders should note that Liteforex’s trading costs are higher than other similar brokers.
Additionally, the website is multilingual together with the live chat which is available 24/5 in 22 languages. Live chat provides the ability to connect to LiteForex’s different departments, including partnership and financial departments, together with general customer support. With all this combined, LiteForex offers excellent customer support services. LiteForex operates under a Cyprus Securities and Exchange Commission (CySEC) license.
In addition to the MetaTrader 4 and Metatrader 5 platforms, LiteForex also offers a user-friendly proprietary copy trading platform. The automated copy-trading system allows traders to duplicate the best trades, trade independently, share information, and communicate with their signal providers. It also offers VPS hosting at a cost of 15 USD per month in addition to free independent market news and analysis from third-party provider, Claws & Horns. LiteFinance maintains the out-of-the-box MT4/MT5 trading platforms, but no introduction exists. LiteForex merely presents them as two buttons and clicking on them redirects to an account opening page.
A copy trading service with a large number of providers is also available. We have been trading through LiteFinance’s ECN account for over 3 years on raw spreads plus a commission of $5 per lot, per side, and we enjoy its unrestricted trading environment. Liteforex’s market analysis materials are in-depth, comprehensive, and frequently updated. At the time of writing this review, current promotions include a 30% Forex deposit bonus. Follow the LiteForex news or stay in touch with its support team to find out more about bonuses and promotions. LiteForex’s non-trading fees are average compared to other similar brokers.
Best Forex Brokers
LiteForex offers a plethora of features that cater to the needs of novice traders. The platform provides a user-friendly interface with a customizable layout, making it easy for beginners to navigate and execute trades. It offers a wide range of tradable assets, including forex, stocks, commodities, cryptocurrencies, and indices, allowing traders to diversify their portfolios and explore various markets. LiteForex also provides extensive educational resources, such as video tutorials, webinars, and a dedicated trading academy, to help beginners enhance their trading skills and knowledge. LiteForex offers a limited selection of educational materials for beginner traders, but their extensive analysis section covers fundamental and technical analyses across a range of currency pairs. A bonus is that one does not have to be a LiteForex Trading client to access this material.
How do I know I can trust these reviews about LiteForex?
LiteForex also offers a Fibonacci calculator, which can further assist traders in defining better entry and exit points. Yes, LiteForex is specifically designed to cater to the needs of beginner https://forex-review.net/ traders, with a user-friendly platform, educational resources, and social trading feature. Traders receive independent market news and analysis from third-party provider, Claws & Horns.
My mission with TrustedBrokers is to help you find the right broker for you, whether you’re a beginner or a pro. I’ve personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. However, as LiteFinance only offers accounts in USD and EUR, you may face foreign exchange fees on deposits and withdrawals, in addition to withdrawal fees. LiteForex‘s mobile trading platforms are average compared to other similar brokers. It offers mobile versions of MT4 and MT5, but no proprietary mobile trading solutions. Liteforex offers support for an average number of trading platforms compared to other brokers.
However, these costs are still above those of other good brokers, which have trading costs of 9 USD per lot traded. Additionally, spreads are variable, which means they get tighter or wider depending on trade volume and market volatility. A top-tier regulator, CySEC is credited with active regulation of the markets, and proactively making changes to protect clients. Apart from the high trading costs, other drawbacks are that LiteForex charges high withdrawal fees. Additionally, its Indian clients will be trading under the LiteForex subsidiary registered in Saint Vincent and the Grenadines, which provides virtually no regulatory oversight.
The brokerage cares
deeply about their clients and makes it easy for every type of trader to get
started with them. Therefore, should you choose LiteForex as your primary forex
trading https://forex-review.net/liteforex/ brokerage? Find out in the following review where we analyze all
aspects of this lucrative trading broker and discover if LiteForex is the right
online trading brokerage for you.
LiteForex also offers social trading capabilities, and MT5 has inbuilt plugins for this purpose. Additionally, mobile trading is also offered through the MT5 Android app. LiteForex has two 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. It also provides its clients negative balance protection, so that they cannot lose more than is in their trading accounts.
LiteForex has three simple account types that are both more to beginners than experienced traders. Another strong point is the broad range of forex trading educational resources available on the broker’s website. The customer onboarding process employed by this brokerage is simple, with users offered the option of signing up for a demo account that is compatible with MT4 and MT5. Depositing and withdrawing funds is also straightforward and should pose no difficulties to traders regardless of their experience level. LiteForex users can choose between MetaTrader 4 and MetaTrader 5 as platforms for their trading activities. This ensures data privacy and software stability while granting users access to mobile and desktop trading 24 hours a day.
MetaTrader is freely available on both Android and IOS mobile phones and tablets. The advantage of using the MetaTrader platform is the cross-device and multi-broker functionality, making it easier to change broker or use multiple brokers. All applications and their contents are supported in more than eight languages and are regularly updated. Compared to other brokers, LiteForex offers a limited range of base currencies. LiteForex does not charge fees for deposits, and as a bonus, it covers deposit fees imposed by the provider.
Ratings and reviews
It is generally satisfied by a copy of the trader’s ID and one proof of residency document. Here is a screenshot of quotes at LiteFinance during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. I appreciate the staff for the knowledge they thought me and for the opportunity to trade. I would recommend litefinance to those who wants to learn trading and become a successful trader.
Overall, LiteForex offers a wide range of funding methods, and while deposits are free, high fees are charged on most withdrawal methods. Some of the most overlooked trading costs are the non-trading fees that are charged by brokers. These fees can significantly affect your profitability and so should be carefully scrutinised. Overall, because of its history of responsible behaviour, the fact that LiteForex segregates all client funds, and provides negative balance protection, we deem Liteforex a safe broker for Filipinos to trade with.
Equity traders get access to large-cap names trending on social media. They are suitable for most retail traders, but seasoned traders require higher quantities. While the 225 assets offer new traders acceptable entry-level exposure, advanced traders will find it inadequate for proper cross-asset diversification. Trading with a regulated broker will limit the potential for fraud and malpractice.