LiteForex Review Forex Broker for Everyone

LiteForex features a live demo account for traders to practice on and awards new traders with a bonus up to 50% for depositing funds. With its intuitive platform and wide range of tools, LiteForex provides a solid offering for new traders. The fees are not highly competitive, but this may not be a significant factor for casual traders. Reliable support via chat and email and the availability of a personal account manager are a plus for this broker. Traders with the European entity benefit from the protections guaranteed by CySEC.

• You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated.
• Placing a trade with a single click saves time and is especially useful for short-term traders.
• Both brokers have more than 10+ years of experience, but FBS remains regulated versus the unregulated nature of LiteForex.
• Per FPA policy, the rating on this review has been set to Zero stars.

Litefinance have deducted my all funds when i made profits. Please read LiteFinance Reviews (i.e. LiteForex Reviews) below and share your live trading experiences with this broker. LiteFinance, formerly LiteForex, is a forex broker founded in 2005 with a EU branch in Cyprus.

Furthermore, the platforms are enhanced with automated trading and social trading capabilities with no restrictions on strategies, also additional complex order types. Depending on the LiteForex account type you select you will get specified fee conditions either based on spread only starting at 2 points or pay off commission per lot and get interbank spread from 0 pip. Likewise, LiteForex International is based in the offshore St. Vincent and the Grenadines which is a non-regulated entity, since its requirements are quite low and do not give sharp protection to clients. 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. Low spreads and commissions, low VPS latency and fast execution.

In general, experienced traders tend to prefer accounts with higher minimum deposits and tighter spreads. At Liteforex this trade-off does not occur as both accounts have low minimum deposits and higher than average trading costs, making them unappealing to experienced traders. This type of broker passes on their client’s orders directly to liquidity providers, which are typically banks, without the need for a dealing desk. As a result, STP brokers are typically known for their transparency and faster order execution. LiteForex’s STP model allows clients to experience pricing that reflects current market conditions, which can result in lower trading costs.

How are you protected on LiteForex?

I installed a trade copier ea, as I had multiple accounts. 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. Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service.

Also, support representatives can easily be contacted 24 hours a day, 7 days a week via live chat, email, support forums, and telephone support that supports call back functionality. Therefore, traders will always be able to get in touch with a representative easily and quickly. Also, traders can interact with representatives via the brokerages various social media channels including; Facebook, Twitter, Google+, Instagram, LinkedIn, Pinterest, Telegram, and YouTube. We also noticed the broker’s efforts to offer the best possible conditions and ensure trading safety with good regulations. LiteForex provides up-to-date reviews and forecasts for all market instruments.

Traders’ Social network for Forex copy trading

It emerged as one of the most competitive regulators with many trusted ones under its framework, free of misconduct and malpractice. Client deposits remain segregated at both, and negative balance protection exists. With a commission-free spread of 1.8 pips or $18 per 1.0 standard lot, LiteForex maintains an expensive cost structure. The commission-based alternative commences with a 0.0 pips mark-up, but the commissions range between $10 and $30 per lot.

Your client account and mobile stock trading platform are now within arm’s reach in your smartphone! Get everything you need for comfortable trading and communication with traders from all over the world. Recently opened an account with LiteForex, verification was quick, a little Paskaleva according to its strategy, ordered a withdrawal for the sample – was taken without any problems.

How many currency pairs does LiteForex trade?

Traders are also required to submit an electronic form of identification to make withdrawals in line with Anti Money Laundering rules. The account-opening process at Liteforex is easy, hassle-free, and fully digital. Liteforex Ltdis authorised and regulated by the Cyprus Securities and Exchange Commission , with licence number093/08.

However, the lack of transparency on liteforex broker charges may be a disadvantage for traders who want to have a clear understanding of all the costs involved in trading with the broker. LiteForex is an excellent trading brokerage that accomodates traders of all experience levels and is very reputable in the online trading industry. The brokerage has been awarded various awards by multiple online financial publications for their level of trading services and customer care and support.

• In addition, always consider rollover or swap rate as a trading cost, since the broker charges a small fee for the position being held longer than a day and is defined by the instrument.
• LiteForex offers two account types, which is average when compared to other brokers, and the accounts are more suitable for beginners than experienced traders.
• Firstly, the broker supports multiple payment methods, including electronic transfers, bank cards, and bank wire transfers.
• LiteFinance Global LLC accepts clients from most countries but does not provide service to residents of EEA countries, USA, Israel, Russia, Japan, and some other countries.

As an unregulated broker, LiteForex stood the test of time with more than 15 years of experience. It offers traders the MT4/MT5 trading platforms but fails to present any of the required third-party plugins. Competitive research is available, but the pricing environment is high. VPS hosting and an auto-withdrawal service add value, but the overall trading environment fails to compete on the high-end. LiteForex also pays 2.5% annually in the ECN account and developed a social trading platform.

LiteFinance bonuses, contests and promotions

But lately, problems have arisen with the withdrawal of funds to WebMoney. Tickets may be weeks hanging on the website until the funds will not fall into the purse. It is very inconvenient, sometimes you have to cancel the tickets and use other payment systems with large commissions. I hope it’s temporary difficulties and in the future will solve this problem. He managed to put together all the best that is offered in the Forex market.

The brokerage specializes in the trading of forex and has been providing reliable and innovative forex trading services since their establishment in 2005. LiteForex is owned and operated by LiteForex Investments Ltd. and is registered in the Marshall Islands with their headquarters located at Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. LiteForex utilizes ECN trading technology while also supporting social trading and facilitating copy trading. 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 brokerage?

LiteForex’s Risk Warning

With excellent copy trading functionality and a range of accounts with low minimum deposits, including a micro-trading account, Liteforex appeals to beginner traders familiar with the Metatrader platforms. However, traders should note that Liteforex’s trading costs are higher than other similar brokers. However, LiteForex does declare to have tight and variable spreads, with an average spread of 0.5 pips for EURUSD, which is a competitive level compared to other brokers in the market. The broker also does not have any hidden fees or charges, which can be seen as an advantage for traders.

Its fundamental analysis consists of daily news on significant political and economic events that impact the world markets. In-house analysts and traders produce all forex fundamental analytical reports. LiteForex also provides its clients with a free high-quality analysis prepared by an independent Company, Claws&Horns. Liteforex offers support for an average number of trading platforms compared to other brokers. Accounts with lower minimum deposits and which allow trading in micro-lots are generally more suited to beginner traders. Spreads on these accounts are often wider than those with higher minimum deposits.

Starting his career in finance on the floor of the Chicago Mercantile Exchange, Dan later gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. Dan also traded at a couple of different prop trading firms in Chicago. LiteForex excelled in the area of platforms, with an innovative proprietary web platform and mobile app, along with the MetaTrader platform for desktop. Research is another strong category for this broker, with a steady stream of reports available for clients and a useful suite of tools. Two types of live accounts to choose from based on trading habits. FBS offers a Cent and Micro account from $1 and $5, respectively.

However, since LiteForex does not have fixed spreads, clients may experience wider spreads during volatile markets. Additionally, requotes may occur due to the time it takes to process orders. LiteForex commission-free costs commence from 1.8 pips or $18 per 1.0 lot, triple that of competitive offers. While it presents a commission-based alternative with spreads from 0.0 pips, commissions range between $10 and $30 per lot. FBS presents traders with a commission-free mark-up of 0.5 pips or $5 per lot.

It will allow you to check if they offer what you’re looking for and what you can trade. The app makes it easy to trade on the go and track your portfolio and trading history. Deposits/withdrawals and chat support are also available via the app. Detailed deposit and withdrawal information with minimum amount of 10 USD and no extra fees. It is important to note that the information provided in this review may be subject to change due to the constant updating of the company’s services and policies.

I was very satisfied with working with this broker, both instant settlement and excellent service, I will definitely work with this broker again in the future. I trade on LiteForex not very long ago, I can copy trades, but you must act quickly, a Manager may merge sooner than it should, yet nothing happened, trade is always a plus, means deduce without problems. I’m an investor, LiteForex I was quite happy, most of the governors lived, and reliable people for over 200 days, I with a stable profit. Take the right step and recover your lost funds trust me it is 100% possible.

https://forexhero.info/ does not charge any fees for deposits but charges fees on some withdrawal methods. For example, it charges a fee of 3% for withdrawing via debit/credit cards and and a commission of 2% for withdrawing via Neteller (click here for more on LiteForex’s deposits and withdrawals). Overall, these withdrawal fees are higher than other similar brokers. Technical and fundamental reports from third-party research firm Claws&Horns are available for LiteForex clients. There is also an analytics feed within the web trading platform and a useful range of tools.

If some of your positions were closed at non-market prices and were not restored, contact our trading department please via email. This didn’t happen on any other brokers chart.and this was wey after the news. For example, if you want to withdraw 1000 EUR you’ll only get 966 EUR and the rest is the commission. I’ve worked with other brokers and they have never charged a withdrawal fee.

We rated LiteForex as having an average level of transparency. Advanced traders can access tighter spreads via the ECN account, algorithmic trading in MetaTrader, and VPS hosting. The fact proves how stupid I am to choose them as my investment platform. Their account managers are not experts, and they are not professionals at all. He does nothing but move heaven and earth to hoard your money!! The minimum deposit and withdrawal amounts on LiteForex are both 10 USD.