LiteForex A broker with competitive spreads but high commissions

LiteForex A broker with competitive spreads but high commissions

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. LiteForex is an online brokerage industry that makes it simple to gain financial freedom. The site contains financial analysis, tutorials, and how-to guides that help new traders and seasoned investors become more competitive in trading.

What is the leverage in LiteForex?

This policy ensures the security and transparency of transactions in LiteForex. Please note that the accuracy of the numbers mentioned is in pipettes, which means one-tenth of a pip. For example, in the table above, the number 2.4 is equivalent to 0.24 pips, and the number 36.4 is equivalent to 3.64 pips.

• Because they have to prove their financial stability, maintain customer funds separately from the company’s operating assets, and regularly report to the Commission.
• All in all, traders at LiteForex are given everythingthey need to succeed.
• Besides being the fastest growing online forex broker in Asia and Western Europe, LiteForex has won several industry awards, such as the Best Broker in Asia, Africa, and Latin America.
• LiteForex’s withdrawal fees range from one option to the next; some LiteForex withdrawal options require no fee and others will add a small markup.
• The market range overall is quite narrow and limited to only FX and CFDs; there is no crypto trading at all.
• The minimumdeposit amount varies from $10 for most payment methods to $100 for some BankWire Transfers.

It’s essential to note that, similar to most brokers, LiteForex has a policy where you are only allowed to withdraw using the same method you used for depositing funds. In other words, if you deposited money via Perfect Money, you can only withdraw using the same method. Incorporated from Claws&Horns, the trading signals represent actionable trading opportunities.

An Introduction to the Company and Its Regulation Status

LiteForex supports mobile trading byproviding their clients with an entire suite of proprietary mobile tradingapplications. In total, there are 6 different mobile apps that can bedownloaded for free from the Apple App Store and the Google Play Store.Theapplications are compatible with both smart phones and tablets and operate verywell. The mobile applications available include; Forex Analysis, Forex Signals,Trading Strategies, Mobile Trading, Forex Digest, and Currency Rates. Unfortunately, you cannot delete an active account in your client profile. You will be required to contact the customer support team to have the issue addressed.

LiteForex Research Tools

You can set up a demo account for yourself alongside your live CFD account. LiteForex offers two retail account types – Classic and ECN – both with a minimum deposit of $50. LiteForex has a track record of more than 15 years in the online brokerage industry with offices in jurisdictions worldwide.

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. LiteForex operates under a Cyprus Securities and Exchange Commission (CySEC) license.

Also, support representatives can easily becontacted 24 hours a day, 7 days a week via live chat, email, support forums,and telephone support that supports call back functionality. Zero Fees – LiteForex reimburses payment system fees as balance funds whenever customers make a deposit. Thanks to the online brokers’ zero fee promotion, it automatically credits deposit fees into traders’ accounts.

Any and all partnerships with industry regulars are not and should not, be broker liteforex viewed as an endorsement or recommendations by topfxbrokersreview.com, even though we may be sponsored by some of the brokers. We are not liable for losses that resulting from the information provided on our site. Complete training in financial markets such as “Forex,” “Stock Market,” and “Cryptocurrencies” only becomes comprehensive with tested trading tools and strategies. “Trading Finder,” with its experience, aids traders and investors in gaining a correct understanding and deep learning. The training programs are designed based on tools for traders of all levels, from “beginner to advanced.” I had working with LiteForex for about 6 months, with lite and floating spread accounts.I need to say that it is average an all, spreads, comissions, speed.

What is a Forex Trend? Types of Trend in Forex

Afterconducting in-depth research on the LiteForex online trading brokerage, it’sevident that the broker is highly competent and very reliable. The brokerageprovides an excellent selection of online trading platforms to choose from anda wide array of tradeable assets to invest in and trade. The level of customersupport is phenomenal and LiteForex offers a variety of favorable trading feesbased off the trading account the trader chooses. All in all, if you’re lookingfor a reliable online trading brokerage to trade forex and other financialassets, LiteForex could be the broker for you.

Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers. MT5 is arguably best suited for automated trading via its Expert Advisors (EAs) feature. The platform also has an intuitive strategy tester, allowing experienced algo traders to tweak the parameters of their strategies so that they can be used under different market conditions. For low-latency algorithmic trading, clients of LiteForex can take advantage of the broker’s VPS offering, affording execution speeds of below 2 milliseconds. With ECN account types and automatic withdrawals, there are some good aspects to it.

• A demo account serves as a training account, which new clients can use to learn more about trading strategies and improve their trading skills.
• The LiteForex site features extensive information about the account types and assets available to buy and sell using its platform.
• They will refer you to the Cyprus Securities and Exchange Commission (CySEC) in case any violence arises from the operation.
• Also, a proprietary platform is developed by the broker for those preferring other options.
• In addition to real accounts, a demo account is provided for risk-free trading and skill improvements.
• However, this is still very competitive compared to most other forex brokers.

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. It has ten years of presence in the forex market and now in the leading British financial magazine World Finance «100 World Finance» in the world. The only thing LiteForex missed until recently was a decent broker license on the Forex market. Now that it is there, it is on its way to achieving its goal – ensuring the highest quality of services. This ensures that we accurately convey facts and events so that investors and traders can read our content with confidence and make informed choices.

The spreads are verycompetitive with the industry standards but are nothing extraordinarily low. OnECN trading accounts, traders will see floating spreads as low as 0.9 pips andaverage spreads of around 1.1 pips. For classic trading accounts traders seeaverage spreads of 1.8 pips and on Cent accounts, the floating spreads canreach all the way up to 3 pips.