LiteForex Review 2024: Read Before You Trade

The presentation of these prizes often takes place at gala dinners for traders, adding an element of excitement and prestige to participating in these contests. 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.

User Experience

Accordingly, the most favorable prices are available when trading FX majors on LiteForex’s ECN account type. Trade by yourself, copy trades and make money in the markets with a reliable broker on a user-friendly platform and on the best terms. All information on The Forex Geek website is for educational purposes only and is not intended to provide financial advice. Any statements about profits or income, expressed or implied, do not represent a guarantee.

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. The broker offers its proprietary platform with versatile charts from Trading View and also incorporates MetaTrader 4&5. Clients of LiteForex can also use its VPS offering for low-latency trading and engage in copy trading. Another advantage of LiteForex is its robust and extensive supporting content.

1. LiteForex also offers VPS hosting, which can be helpful for automated trading.
2. I performed my tests on a Classic trading account using the desktop versions of MetaTrader 5 and the broker’s proprietary platform.
3. Prizes in such contests are usually substantial and impressive, often including brand new cars, motorbikes, expensive laptops, and more.
4. In addition to regular contests, LiteFinance periodically holds regional contests for its clients from specific countries.
5. It is a great tool for making quick trading decisions, as it incorporates comprehensive research materials and tools.

Account Types and Features

Essentially, the broker lends the trader money so that the latter can open bigger positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades. Most apps suffer from the same underlying problem – having to compress complex data on low-resolution devices, which usually makes it quite difficult to discern. But LiteForex’s app retains the web trader’s sophisticated look and feel. It is a great tool for making quick trading decisions, as it incorporates comprehensive research materials and tools. As shown above, the problem with MetaTrader is that the charts can be crowded quite easily, even when we add no more than 2 indicators.

Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold The Forex Geek and any authorized distributors of this information harmless in any and all ways. In addition to regular contests, LiteFinance periodically holds regional contests for its clients from specific countries. Prizes in such contests are usually substantial and impressive, often including brand new cars, motorbikes, expensive laptops, and more.

While it provides a decent amount of forex pairs, commodities, and indices, there are no share CFDs, cryptocurrencies, or other lower-risk securities like ETFs and bonds. Its swaps are elevated and not particularly suitable for longer-term trading. The xcritical official site spread rate on the Classic account is considerably higher than the industry average. This is offset in the ECN account, which features raw spreads from 0.0 pips and varying commissions. However, LiteForex’s range of instruments is somewhat limited, with an absence of share CFDs and cryptocurrencies.

Top Features

LiteForex’s research content gives traders a multifaceted overview of the xcritical state of the market and provides them with actionable trading signals. I concluded that the broker’s research content caters to the needs of day traders and swing traders. LiteForex incorporates a standard suite of the popular MetaTrader 4 and 5. All the platforms can be used to carry out basic technical analysis and order execution. LiteForex also offers xcritical scammers VPS hosting, which can be helpful for automated trading. This company is a registered broker operating from Cyprus, an EU member state located in Southern Europe.

Maximum Leverage By Asset Class

It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large. I performed my tests on a Classic trading account using the desktop versions of MetaTrader 5 and the broker’s proprietary platform. The account was opened with the broker’s Liteforex (Europe) Ltd entity.

This obscures price action behavior and makes it more difficult to conduct probing technical analysis. 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). Generally, only the $10 commission on FX Majors falls below the industry average.

Deposits and withdrawals are cost-free with LiteForex, though third-party banking fees may apply. This is only true for withdrawals, as the broker reimburses its clients for any processing fees incurred when depositing. 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.

LiteFinance offers various deposit and withdrawal methods to cater to the diverse needs of its clients. These include electronic payment systems, bank transfers, credit card transfers, and cryptocurrencies, ensuring flexibility and convenience for traders worldwide. LiteFinance offers an excellent range of trading platforms to cater to different trading preferences. You will find the leading platforms for trading forex and CFDs across all of your devices. Whatever your trading strategy and preferences, there is a platform for everyone.

Contracts for difference (CFDs) are derivatives used to speculate on the underlying asset’s price without physical delivery. 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. Analytical materials are developed in cooperation with our partner, Claws&Horns, exclusively for information purposes. Published materials should not be regarded as a recommendation for investment or advice in accordance with Directive EC.

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. LiteFinance organizes exciting Forex contests with real cash prizes for both experienced and novice traders. These contests are accessible via demo accounts or real trading accounts, and they offer a chance to win cash prizes that can be used for further trading or withdrawals. The contests are designed to accommodate traders at all levels of expertise. Overall, LiteForex is an excellent proposition for both beginner traders and professionals thanks to its range of account types and the wealth of financial information available to account holders. Private investors focusing primarily on forex pairs while appreciating transparency and competitive pricing will benefit, especially from this broker’s offering.