It is possible to access LiteForex live chat in a demo mode and get answers to all your questions. 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.
Best Forex Expert Advisor Services
However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection. In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation. LiteFinance Global LLC does not provide services to residents of the EEA countries, USA, Israel, Russia, and some other countries. Promote the LiteFinance brand as our partner and earn up to 70% of spreads per attracted client.
LiteFinance Web Platform
- Since LiteFinance claims to adhere to AML regulations, verification is mandatory.
- Namely, beginners with little or no trading experience are interested in learning more about trading and developing a robust trading system.
- The broker does not charge deposits and even compensates the client for any third-party banking fees.
- For instance, tradershave access to numerous eBooks, tutorials, strategies, articles, and more tohelp them become better traders.
These allow traders to examine various market developments from different angles and to exploit the underlying trading opportunities in multiple ways. I discovered that LiteForex’s Classic account features trading costs that are nearly twice as high as the fees on the ECN account. The latter offers slightly more competitive prices than the typical STP account, but it falls behind the typical ECN account type. Generally, only the $10 commission on FX Majors falls below the industry average. Accordingly, the most favorable prices are available when trading FX majors on LiteForex’s ECN account type. An easy-to-use dedicated trading platform provides a comprehensive analytical toolkit and suits any trader regardless of experience.
What is the LiteFinance minimum deposit?
Trade in various assets using built-in analytics and signals to predict price movements. Raw spreads from 0 points, the best liquidity providers, and ECN technologies make it profitable to trade with LiteFinance.
Trading Platform Screenshots
Account holders can choose between MetaTrader 4 and MetaTrader 5 as a trading platform. This industry-standard software comes with a raft of features and benefits and is recognized for its data security features, analytics tools, and quick execution times. It should be noted that LiteForex applies a slightly different cost structure to its two account types. The Classic account features 0% commissions with the spreads, including a markup, as outlined above.
LiteForex broker review – A broker with average spreads and high commissions
My findings indicate that the broker charges average-to-high swaps compared to the industry average. This combination is not particularly suitable for longer-term trading strategies (swing trading and position trading). Broken down by asset class and compared to the industry average, LiteForex charges high spreads on instruments across all asset classes for the Classic account. The raw spreads from 0.0 pips on the ECN account are much lower and generally fall below the industry average. Its license from CySEC is easily discoverable on the website, and traders can verify it fairly quickly.
AsLiteForex is based in the Marshall Islands, they are licensed and regulated inaccordance with the Marshall Islands Business Corporation Act. Therefore, thebrokerage is trusted to provide safe, secure, and transparent online tradingservices and has been doing so for over 13 years. LiteForex operates under a Cyprus Securities and Exchange Commission (CySEC) license. In addition to these regulations, the broker has a number of security measures in place to protect client funds. LiteForex is a part of the investor compensation fund and all client funds are kept in segregated bank accounts, preventing the broker from using client money for their own purposes. Furthermore, to prevent a trader from losing more than their account balance, the broker offers negative balance protection.
The broker offers extensive supporting content, multilayered safety mechanisms, and fast but basic customer support. Its accounts are quite accessible with a low minimum deposit requirement of only $50, and at the same time, clients can choose from multiple supporting tools. https://investmentsanalysis.info/offers traders the selection between two of the most popular and loved tradingplatforms in the world, the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) tradingplatforms. Both platforms are highly sophisticated and accommodate the needs ofboth beginner and experienced traders. However, because LiteForex onlyprovides trading in the forex markets, both platforms will do.
LiteForex offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account. It’s evident thatthe brokerage takes the success of their clients very seriously as they doeverything in their power to help their traders succeed. For instance, tradershave access to numerous eBooks, tutorials, strategies, articles, and more tohelp them become better traders.
It is a great tool for making quick trading decisions, as it incorporates comprehensive research materials and tools. Trading View offers advanced charting capabilities and multiple analytical tools for carrying out advanced technical analyses. As a chart artist, I have always valued platforms with detailed and versatile charts, and LiteForex’s platform is one such station.
The materials are prepared by the well-known independent analytical agency Claws&Horns, which has established itself as a professional in the area of market analysis. Open an account with LiteForex and gain access to quality analysis for free. 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. I like the trading environment at LiteFinance for cryptocurrency traders who seek a copy trading service. LiteFinance, previously known as LiteForex, faces technical issues and experiences a rise in fraud claims.
For this reason, staying on top of the latest market developments is crucial, a task made simpler through the mobile app version of LiteForex. In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and the transparency of information provided. Liteforex (Europe) Ltd is regulated in Cyprus by CySEC, and LiteFinance Global LLC is unregulated. I discovered that the European entity of the broker adheres to all essential safety requirements, such as ensuring negative balance protection and a compensation scheme.
