LiteForex Review Is It a Reliable Forex Broker?

Authorities are also standing behind traders and protecting claims or concerns regarding operations. One of them, LiteForex Cyprus Ltd., is regulated and complies with CySEC regulatory obligations as well as the MiFID European directive. All information on The Forex Geek website is for educational purposes only and is not intended to provide financial advice.

How to open your account

But remember that Islamic or Swap-Free accounts have a time limitation for keeping trades open, typically 14 days, and no broker allows you to keep trades open for more than 14 days in these accounts. LiteForex broker clients are assured of the complete safety of their personal information. LiteForex’s clients are guaranteed twenty-four-hour technical assistance 5 days a week. The “single window” system makes it possible to receive competent advice on any matter by use of LiveChat.

good support and good transfer money…

1. LiteFinance caters to most international traders, including the UK, the Philippines, Malaysia, and Nigeria.
2. At the beginning of this year, I ran into difficulties accessing my account, but access was restored within 24 hours.
3. This broker provides a reliable and engaging copy trading facility that functions as a social media network.

The webinars offer trading lessons and teach traders how to analyze trades and set up trading strategies. Others complimented the broker on the excellent training condition they offer traders, competitive commission, and user-friendly interface. LiteFinance is rated «average» on Trustpilot with a 2.9 rating based on 18 reviews. The «average» rating shows that many clients consider their services satisfactory. This LiteFinance broker review further explains all you need to know to decide if the broker offers a competitive and trustworthy trading environment suitable for your trading needs and experience level. Self-confessed Forex Geek spending my days researching and testing everything forex related.

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There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Even though, there were numerous claims and complaints from the global traders presenting an impressive collection of issues that were faced during the trading experience they had. Liteforex (Europe) LTD provides services only to the residents of countries from the European Economic Area (EEA), the United Arab Emirates, and the Marshall Islands.Full list of countries is available here. Note that the content on this site should not be considered investment advice.

not so good broker for IB

Rollovers are small fees that the broker charges for holding your position longer than one day, and they’re determined by what instrument you trade. The amount you pay for trading on LiteForex depends on the type of account. Per lot costs no additional fee and is also listed in the table below, as well as any other expenses incurred by trading their platform with us. The regulatory status is the single most important measure to check because it means a client will be treated fairly according to international laws.

Nowadays, LiteForex broker is one of leading brokerage companies that unites traders worldwide. LiteForex is on the top 100 companies list according to World Finance. LiteForex and its entities (LiteFinance) have been in operation since 2005. There is not enough information in terms of reviews to conclude whether or not clients are happy with the services and features this broker offers. LiteFinance broker supports the web and mobile versions of the popular MetaTrader 4 and MetaTrader 5 platforms. LiteForex provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as the main trading platforms.

Cent Account

I caution beginner traders about using a demo account as an educational tool. It can create unrealistic trading expectations, and the absence of trading psychology negates the educational value. I learned how to trade on forex market due to the possibility to trade on forex without investments by using demo account of the liteforex broker. After 1-2 months I will tell you about my trading experience on the CLASSIC account in LiteForex. I can highlight what I like the most is the automatic fast withdrawal of funds, convenient web terminal and mobile application, low spreads on ECN accs, and good trade performance. Over the years, I have had some problematic situations, as well as with other brokers, but at litefinance they have always been resolved quickly and in my favor.

To facilitate mobile trading, these platforms are also available as a mobile app, allowing clients to start investing at their convenience. After opening a new account, LiteForex traders get access to around 56 forex currency pairs for trading. The company also supports the trading of 6 commodities and 16 cryptocurrencies and holds licenses to provide trading services for some 37 US-listed equity CFDs.

LiteForex’s withdrawal fees range from one option to the next; some LiteForex withdrawal options require no fee and others will add on a small markup. If you select a Standard account, the spread for EUR USD is 2.2 and with an ECN account it’s only 0.1 plus 10$ commission. A wide range of products (Forex, metals, oil, global stock indices traded xcritical scam as CFDs) are available to trade. Follow the steps to open an account, which are simple and easy to follow thanks to regulations that require you upload your ID or residence registration when asked during identity verification on stage. The Best of the Best Demo Contest of LiteForex will truly test your ability without any financial …

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. LiteFinance also offers a lightweight web-based browser with a user-friendly interface. It is ideal for manual traders and superior to the MT4/MT5 web-based alternatives. DailyForex.com adheres to strict xcriticals to preserve editorial integrity to help you make decisions with confidence.

Deposits made with other currencies (fiat and cryptocurrencies) will be converted into any of these two currencies. Ghana, Nigeria, and Myanmar clients can have https://scamforex.net/ their accounts denominated in local currencies. LiteFinance is committed to educating its clients, especially beginners, with a range of educational resources.

Over the past twelve months, it made the most notable expansion in cryptocurrencies, where it offers 53 assets, including crypto-to-crypto crosses. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database.

Each spread has a specific fee assigned to it based on the account and the asset being traded. 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. LiteForex broker was founded in 2005 and has since opened its offices in various countries, including Bulgaria, India, Indonesia, Malaysia, Pakistan, Russia, Thailand, and Poland. These offices serve as primary centers for LiteForex to offer financial services in the forex market across different regions.