LiteForex mobile trading Apps on Google Play
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 https://forex-review.net/liteforex/ 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.
It could explain its corporate headquarters move and expansion into less-regulated cryptocurrency activities. Regrettably, none had a positive impact, making LiteFinance a less transparent, secure, and trustworthy brokerage. Read independent analysts and obtain the most current details about financial markets. Learn everything about the Relative Strength Index (RSI) indicator for Forex trading.
- Overall, Liteforex’s CFD offering is limited compared to what is available at other similar international brokers, which may leave more experienced traders dissatisfied.
- Liteforex’s trading fees are higher than average on both of its accounts.
- For traders that trade in large volumes (more than 10 lots a month), it is better to open an account denominated in USD at a digital currency bank, especially for trading on assets such as the EUR/USD.
- LiteForex offers four base currencies, which is limited compared to other similar brokers.
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.
Fees
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? 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.
Gold Trading Brokers
Raw spreads from 0 points, the best liquidity providers, and ECN technologies make it profitable to trade with LiteFinance. 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. LiteForex has a rating of 4.22 stars from 23 reviews, https://forex-review.net/ indicating that most customers are generally satisfied with their purchases. We suggest you read LiteForex’s customer agreement before opening an account. 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.
FP Markets
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.
Overall, trading costs at LiteForex are higher than average on both account options. LiteForex also insures all client money through the Investor Compensation Fund (ICF). The objective of the ICF is to secure any claims of covered clients against members of the ICF by paying its clients compensation in the event that the company is liquidated. However, under the current regulatory environment, British traders will not benefit from this compensation. It starts from as low as $10 for the Cent account and goes up to a higher amount for PAMM accounts. LiteFinance is first and foremost an ECN broker that allows all trading styles in the MetaTrader 4, 5 and cTrader platforms.
EURO / British Pound
But the broker has high spreads and commissions and may not be suitable for traders who prefer low trading fees and commissions. ECN accounts offer much more value in trading terms with low spreads, but still, the commissions are higher than with other popular brokers. LiteForex has a very good education center with advanced Forex trading educational materials and books. Unlike other brokers that offer a range of account types with lower spreads linked to higher minimum deposits, LiteForex offers two market-execution accounts with low minimum deposits. The Classic Account has trading costs included in the spread while the ECN Account offers tighter spreads and a small commission per trade.
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.
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.
The broker’s excellent customer service (which is available day and night most days of the week) adds an extra element of reliability to an already impressive service offering. It’s evident that
the brokerage takes the success of their clients very seriously as they do
everything in their power to help their traders succeed. For instance, traders
have access to numerous eBooks, tutorials, strategies, articles, and more to
help them become better traders.
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.
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.
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 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.