LiteForex Review 2023: Know Its Platforms, Pros & Cons Before Trading

The Classic account holders get charged with a spread-based fee while the ECN account holders get charged based on commission. LiteForex’s spreads are quite competitive, but some major forex pairs get a spread of 2 pips, which is considerably high. LiteFinance offers an impressive range of deposit methods for convenient Forex trading. However, you may have to pay a transfer fee to the payment systems you use to top up your trading account. In most cases, LiteFiancne will reimburse the client for any deposit fees charged by payment systems.

  • As such, we will be going through a tutorial on how to open up an account from this site.
  • This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted.
  • It could explain its corporate headquarters move and expansion into less-regulated cryptocurrency activities.
  • Typically we do not include this for other top-tier brokers and ECN brokers, but LiteForex does not have much in the way of trading education.
  • The platform has been around since 2005; this broker might not be providing info on it because they think it is common knowledge.

As well as different trading assets to provide diversity to the trading profiles of investors. Expert traders use the demo accounts to test their techniques and new traders to test their knowledge. LiteForex offers 2 types of accounts on their platform and this section of scammed by xcritical is where I’ve put my efforts to break down all the features of all offered accounts for you. So the information here will help you decide which account is most suitable for you. Remember that MetaTrader has been considered the industry standard when it comes to trading platforms for both retail traders and professional investors.

As for the fund transferring fees, LiteForex does not charge transfer fees for deposits yet various jurisdictions and payment providers may add on some fees, so be sure to verify this info as well. Online registration merely requires an e-mail address or phone number and a password. Traders may also sign-up through their Google or Facebook accounts. Since LiteFinance claims to adhere to AML regulations, verification is mandatory.

LiteForex Review Conclusion: Reputable Broker with Easy-to-use Platform

I received my first withdrawal within minutes and that got me excited.2. I was greeted with a very tight spread on their ECN, it remains the tightest spread I have seen on any ECN still date.3. No Slippages, lagging’s and manipulations, those challenges became a thing of the past, these factors frustrate my fellow traders on other platform every day. With Litefinance I have no worries and it feels good honestly.4.

LiteForex Investments Limited offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. Developed in 2005 and 2010 respectively, these systems have become the foremost platforms for online forex and CFD trading. 2 different trading platforms are offered which are the most popular in the market MT4 and MT5.

Web Trading Platform

The company is headquartered in the Marshall Islands and has offices in various countries around the world, including Cyprus, the Philippines, and Nigeria. LiteForex has been an online broker for almost two decades as they began operating in 2005. They hold a brokerage license with CySEC and operate throughout the globe providing ECN forex trading and CFD trading in the form of commodities, stocks, indices, and crypto. This review breaks down what you need to know about this broker.

The company is headquartered in the Marshall Islands and has been operating from there. The LiteForex group also holds its branch offices in Kenya, Tanzania, Myanmar, Nicaragua, Indonesia, India, Ghana, Iran, Vietnam, Nigeria, and the Philippines. We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms.

Top 3 Alternatives to LiteForex Europe

LiteForex also has a manuscript for terms of service (AKA client agreement). Please please read the client agreement very very carefully, especially about withdrawal. A big scam broker and need to be…
A big scam broker and need to be…
A big scam broker and need to be avoided at all costs
This broker have ecn accounts, but their ecn is not real their chart is… I’ve been trading with LiteFinance for two years, and can say that every my question was solved with support team or dealing department with all respect to me.

Opening an Account

On many LiteFinance broker reviews, the broker ranks as one of the best forex brokers. The primary drawback is that some users have reported an inability to withdraw funds. Fortunately, the customer support team seem prompt to respond to reported withdrawal problems. Note xcritical scammers LiteForex (Europe) Ltd operates as a separate broker offering trading services to clients from Europe. Hello to everyone.Forexbrokerslab is my personal blog where I review reliable forex brokers. Forexbrokerslab is a project that aims to educate and protect forex traders.

The LiteForex group of companies guarantees its clients’ personal information is confidential and ensures security when conducting non-trading operations. The HTTPS (Hypertext transfer protocol secure) data encryption protocol used in the personal profile is designed to transfer data between a client and a server securely. It also excludes the possibility of the client’s personal data interception. A one-click trading option is available within MetaTrader4 which makes the execution of trades as simple as it can be.

LiteForex Europe Verdict

The process for registering a company at the home nation is easy and doesn’t require much verification. The steps include applying for a license at the nation’s online portal, which is a publicly open & painless procedure. Additional support is supplied in the form of Claws&Horns’ expertise; an analytical agency providing comprehensive analytical tools. For forex professionals, the contents of the educational materials would surely vary as they no longer start in the market. Social trading and rankings of traders are terms and charts shown for more experience to be given. As customer support is provided in so many ways and through all sorts of channels all the clients need to do is think which way is easier for them n just go for it.

The broker’s customer service is pathetic, and the executives fail to clear client doubts. But no calls were answered, and the email response took extended time than usual. The normal response time was longer than multiple days which gets frustrating for an average trader. The live chat is partnered by a trading bot that gives impertinent responses on every question. The broker forces the use of the MT4 to its clients, despite the fact that MT5 is already rolled out on the streets.

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