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. Brokers operate multiple entities because it allows them to serve clients worldwide. 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. Our experts found LiteForex’s range of products includes trading popular Forex and CFD Metals, Oil, as well as a range of Global Stock Indices.
Thus, I concluded that LiteForex’s customer support is good but could be improved. When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are. LiteForex offers multilingual support available 24/5 via live chat, email, and phone. Agents respond fairly quickly to queries and have a basic understanding of LiteForex’s services. LiteForex’s platform is much more fluid in comparison to MetaTrader, especially its charts, which are powered by TradingView.
My Key Takeaways After Exploring LiteForex’s Research Materials
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. Our research showed that the broker offers a wide range of funding methods, while some of them include fees others are free of charge. Also, money transfers to or from the account depending on your residency and its applicable policies, in addition to entity rules of LiteForex that apply. Download MetaTrader 4 trading platform for your smartphone or computer and get access to the Forex market from wherever in the world.
Does LiteForex offer a demo account?
- The choice of trading platforms between MT4 and MT5 is not a surprise as being an industry popular and recognized technology it is indeed one of the best choices for a various size or strategy traders.
- They contain lots of practical insights, e.g. how to use intraday trading strategies, Fibonacci retracements, etc.
- He earned a Bachelor’s degree in Economics and International Relations.
The ECN account offers generally more favorable conditions, though traders should mind the commission rate. Coupled with its raw spreads starting from 0.0 pips, this combination on the ECN account is generally better than the industry average. However, the broker charges higher commission rates on instruments from other asset classes. 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.
LiteForex MT4
Its Client Agreement is exhaustive and written in easy-to-understand language. Based on our research, LiteForex gives its clients access to 56 currency pairs, as well as 6 valuable metals, 16 cryptocurrencies, 37 CFDs, and 11 Global stock indexes. A simple program built specifically for a manager who manage investor fund across multiple accounts. It fast and easy to use because of the interface is similar to MetaTrader. In my estimation, LiteForex is a good choice for those interested in casual trading. Namely, beginners with little or no trading experience are interested in lxcriticalg more about trading and developing a robust trading system.
The withdrawal fees are ranged also from one option to another, while some LiteForex withdrawal options add no fees and others will add on a small mark up. LiteForex Standard account minimum is 50$ at the start, and the ECN account set is also 100$ and it is a great opportunity since the requirement is quite low. Yet, be sure to verify conditions and margin requirements for the instrument you wish to trade, also better check all the margins via Demo account at first before you sign in.
LiteForex MT4 is an analytical trading platform intended for working on the Forex market and stock. This program is a smart and simple solution for online trading, technical analysis and automated trading. I performed my tests xcritical official site on a Classic trading account using the desktop versions of MetaTrader 5 and the broker’s proprietary platform.
You can download MetaTrader 4 in the « Trading Platforms » section of your broker’s website. To install the platform, double-click on the downloaded file « litefinance4setup.exe ». Choose a directory for installing the program and follow xcritical the installation program tips. LiteForex provides layered educational content that is well-structured and easy to understand.
However, the broker generally charges high trading fees on its Standard account and provides extremely limited instrument offering of about 70 assets. Additionally, MetaTrader 5 has an intuitive mobile app, which helps traders stay connected to the global capital markets even on the go. My findings indicate that the broker charges average-to-high swaps compared to the industry average.
The market is continually evolving, marked by periodic surges and declines in volatility. For this reason, staying on top of the latest market developments is crucial, a task made simpler through the mobile app version of LiteForex. Overall, LiteForex is deemed suitable for novice traders, day traders, and those interested in algorithmic trading.
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.
This is only true for withdrawals, as the broker reimburses its clients for any processing fees incurred when depositing. 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. I did not discover any major discrepancies, and all essential safety information is readily available.
It supports the MetaTrader 4 and 5 platforms and offers VPS hosting for low-latency trading. Mobile trading platforms for both iOS and Android with alerts, push notifications and full control over your trading account are also included in the package. Furthermore, the platforms are enhanced with automated trading and social trading capabilities with no restrictions on strategies, also additional complex order types. Even though, the standard account spread might be slightly high compared to other industry proposals yet always be sure to see all the trading offerings so even a relatively high spread might be still a good deal. Both of the trading platforms is compatible with Windows PC, MAC and mobile devices such as Android phone, tablet, iPhone and iPad.
LiteForex processes most payment requests between several minutes to several business days, depending on the chosen payment method. The broker does not charge deposits and even compensates the client for any third-party banking fees. LiteForex also does not charge a handling fee for withdrawals, but external fees may apply. The agent quickly answered the first and simplest question but appeared to struggle with more complex inquiries.
LiteForex offers 31 educational lessons available from the client area. I appreciated that the materials are supported with tests to help the reader solidify what has been learned. They contain lots of practical insights, e.g. how to use intraday trading strategies, Fibonacci retracements, etc. Liteforex (Europe) Ltd provides services only to the residents of countries from the European Economic Area (EEA), the United Arab Emirates (UAE), and the Marshal Islands.