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. Dormant accounts are charged an inactivity fee of $3, which is quite low. 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.
LiteForex Research Tools
To open a demo account, you have to click on the blue Demo Account tab. LiteForex Investments Limited, the online broker’s parent company, is regulated and authorized in Marshall Islands in compliance with the Marshall Islands Business Corporation Act. The company’s official address is Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. 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.
What features does the LiteForex Online Trading Platform have?
The broker offers 73 instruments in total, notably lacking any share CFDs and cryptocurrencies. On the one hand, the broker should be praised for offering plenty of minor forex pairs, such as USDTRY, USDMXN, and GBPSEK. Its swaps are elevated and not particularly suitable for longer-term trading. The 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.
The good thing about Liteforex is that you are not limited on the number of referrals you bring on board. Even after xcritical official site filling all the required information, your profile may still read 60% complete. Your profile will only read 100% upon filling the trader’s questionnaire and profile. In my estimation, LiteForex is a good choice for those interested in casual trading.
EKYC is required for security purposes since trading involves extensive money, and a lot of cybercrime happens these days. Since the danger of losing money is always present, traders need to do their homework well and use all the facilities available to enable xcritical trading. Regarding the demo account used for lxcriticalg to trade, no charges are imposed, and it is free to use. Usually competitive, spreads can sometimes be high, like two pips.
How to Set-up LiteForex Web Trading Platform?
Thanks to the online brokers’ zero fee promotion, it automatically credits deposit fees into traders’ accounts. 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.
- In other words, the Forex broker is also an online trading tutor, providing high-quality educational material for beginners as well as advanced traders.
- 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.
- In FTSE 100 and other major indices, the spread commences at 1 point.
- The broker offers extensive supporting content, multilayered safety mechanisms, and fast but basic customer support.
In FTSE 100 and other major indices, the spread commences at 1 point. Spreads bring incomes to LiteForex and differ according to the nature of the account and type of traded asset. ECN account uses a commission-based system and charges $5 per lot. LiteForex Trading Platform account holders gain access to numerous assets and markets in LiteForex. Choices are the MT4 and MT5 platforms and the mobile apps for both android and iOS systems. Traders’ Tools of several kinds help safe and research trading to elevate profits and minimize losses—analytical tools aid technical and fundamental forex understanding.
LiteForex is not just a great place for trading, but also for lxcriticalg more about trading strategies and improving trading skills. In other words, the Forex broker is also an online trading tutor, providing high-quality educational material for beginners as well as advanced traders. LiteForex gives customers the opportunity to practice trading without risking xcritical their hard-earned money.
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. Zero Fees – LiteForex reimburses payment system fees as balance funds whenever customers make a deposit.