LiteFinance features a Beginner section on its blog, where it presents educational content featuring dozens of quality articles. I recommend traders use it as part of their education before opening an account. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based https://xcritical.solutions/ LiteFinance ECN account. 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. MetaTrader 5 is the latest version of the world’s most popular trading platform with a wider set of features. Learn the basics and practice on a demo account with virtual money.
The ECN account is a much better variant for trading as all the other terms are the same for both Classic and ECN account types, except that spreads are much lower on ECN accounts. It should be noted that their commissions are a lot more expensive than other brokers. The great news is that both demo accounts allow LiteForex traders to try out the leverage, margins, different spreads etc. for the ultimate trading experience. There is no element that is not integrated into the demo platform.
- The Cyprus Investor Compensation Fund covers all retail trading accounts (for those not belonging to professional or institutional investors) against broker liquidation to a maximum value of EUR 20,000.
- The LiteFinance website is owned and operated by the LF Global group of companies, which include LiteFinance Global LLC and Liteforex (Europe) LTD.
- The “single window” system makes it possible to receive competent advice on any matter by use of LiveChat.
- When I started out my journey as a trader, one major item on my bucket list was getting a credible broker with an enabling environment for traders to thrive and succeed.
LiteFinance, previously known as LiteForex, faces technical issues and experiences a rise in fraud claims. The unexplained move of its headquarters from one unregulated Forex jurisdiction to another raises red flags. Since rebranding, LiteFinance lacks transparency across its core trading environment. Until this broker fixes its issues and returns to the same standards established over 15 years as LiteForex, I advise extreme caution.
Forex trading with LiteFinance is one of the best ways to become a professional on Forex market
LiteFinance notes a 30% deposit bonus for the Classic account, where trading costs are 80% higher than its ECN account. LiteFinance offers three partnership programs, but limited information exists. Basically, this means that you as a trader can copy trades placed by other traders without any restrictions. Traders who are xcritical courses scam placing trades originally have the ‘Master account’, while traders who are copying trades have ‘Investor Accounts’. Traders can not only trade forex and CFDs contracts but can also experience social trading. Social trading is a type of trading that allows you to utilize the knowledge of others for your own benefit.
- This may impact how, where and which companies / services we review and write about.
- Residents of European countries can use services offered by Liteforex (Europe) LTD.
- In most cases, LiteFiancne will reimburse the client for any deposit fees charged by payment systems.
- Customer service contact information is prominently displayed for smooth communication with the support team.
- In line with LiteFinance AML policy, clients can only withdraw funds to the same purse and currency used to top up the account.
- “The Best Client Service” award received at the 6th International Investment & Finance Exposition confirms our staff’s high competence and client-oriented service approach.
For example, it is possible to watch a tutorial, check out strategies, follow analytics, read market news etc. There are also several tools that traders might find useful such as Fibonacci calculator, Trader’s calculator and similar. Traders can use them to calculate different rates and possible outcomes of market movements. Of course, it is always xcritical to combine them with other analytical methods, tools and strategies. Variety is often the key to successful prediction of market movements. Webterminal, on the other hand, is MT4 platform that is completely web based, which means you never have to download or install anything.
Deposits and Withdrawals on LiteFinance
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. Also, support representatives can easily be
contacted 24 hours a day, 7 days a week via live chat, email, support fxcriticals,
and telephone support that supports call back functionality. Therefore, traders
will always be able to get in touch with a representative easily and quickly. Also, traders can interact with representatives via the brokerages various
social media channels including; Facebook, Twitter, Google+, Instagram,
LinkedIn, Pinterest, Telegram, and YouTube. Overall, we can conclude in LiteForex review, how this broker really offers a great variety of trading opportunities at one of the most popular trading platforms among forex traders.
xcritical Price Predictions: 2023 and Beyond
Forex traders focused primarily on major and exotic currency pairs will benefit from competitive spreads and a transparent fee structure while using the industry-standard MetaTrader platform. 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.
Register, verify your profile for your data protection, and open a trading account. Raw spreads from 0 points, the best liquidity providers, and ECN technologies make it profitable to trade with LiteFinance. In the world of Forex trading, reaping profits solely depend on a trader’s speed and accur… Forex is xcritically the largest investment market in the entire globe dwelling in currency volume… We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.
On Forex, you have limitless opportunities for financial self-realization
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. Its service is very good, especially deposit, withdrawal, xcritical rezension bonus (credit), lowest commission, and many more. Spread is very low, very fast order open and close, no requotes, trading execution is very fast, without hidden matters. News trading is easy; stop-loss and take-profit are hit by the original market price movement. I recommend choosing this broker and starting trading with LiteFinance Broker.
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.
LiteForex is a regulated broker offering Forex pairs as its main trading product. The broker has a social trading platform and offers ECN technology which is available together with automated withdrawals, making the trading process very comfortable and streamlined. 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. LiteForex is a regulated forex and CFDs broker that holds CySEC license for trading services.
There are also oil, indices, and metals offered as underlying assets. LiteFinance is not a scam because it is registered per all legal requirements and regulations. The broker’s compliance is subject to external audits, and many expert financial publications recommend them for providing reliable brokerage services. 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. Liteforex (Europe) LTD is a registered Cyprus Investment Firm (CIF) regulated by the Cyprus Securities and Exchange Commission (CySEC).
Is LiteForex a good broker?
They are providing trading on a popular MetaTrader4 platform and have a great variety of trading accounts that can be used by traders all over the world. Considering they have been on the market for almost 10 years, they managed to create forex trading environment that provides the trading experience that leaves little to be desired. Traders can find out more about this broker by visiting the website by clicking the buttons in this review or by reading our review about LiteForex.
As such, all trading and client activity is regulated by the Cyprus Securities and Exchange Commission. As noted above, this jurisdiction offers investor compensation up to EUR 20,000 on non-professional trading accounts in the event of brokerage liquidation. 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. 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.