The platform boasts dozens more technical indicators than its predecessor, 21 timeframes, and a full set of order types. In addition, traders can take advantage of the economic calendar and depth of liquidity tool. LiteFinance maintains a wide range of trading instruments, advertising 145+ on its website, offering 225. Over the past twelve months, it made the most notable expansion in cryptocurrencies, where it offers 53 assets, including crypto-to-crypto crosses. Additionally, the broker offers a range of educational guides, which are freely available on the website. I appreciated their diversity and sharp focus on technical analysis, fundamental analysis, and trading psychology.
Traders cannot hurry but carefully heed the suggestions and market research tools. Internal share markets are an essential part of the LiteForex Trading Terminal. Traders are never left in the dark because of the powerful customer support in many languages. The LiteForex Online Trading Platform delivers robust and secure functionality with a variety of trading tools. The very efficient MetaTrader 4 contains all the necessary facilities a trader may need.
You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades. LiteForex’s platform is much more fluid in comparison to MetaTrader, especially its charts, which are powered by TradingView. 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. Read independent analysts and obtain the most xcritical details about financial markets. The BOOM500, BOOM1000, CRASH500, and CRASH1000 indices have been added to LiteFinance’s list of trading instruments.
- The brokerage operating from St. Vincent and the Grenadines remains unregulated.
- 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.
- Please note, some markets may only be available via CFDs or other derivatives.
- Furthermore, the costs mentioned on the website match the live quotes on the platform.
- For low-latency algorithmic trading, clients of LiteForex can take advantage of the broker’s VPS offering, affording execution speeds of below 2 milliseconds.
The account was opened with the broker’s Liteforex (Europe) Ltd entity. Some features and services may vary depending on where you reside and which entity you open an account with. No interest is paid on surplus funds and no commissions are charged.
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 xcritical scammers typical STP account, but it falls behind the typical ECN account type. I have compiled the table below to help you better understand the difference between the trading fees of LiteForex’s two account types and the industry average. Dormant accounts are charged an inactivity fee of $3, which is quite low.
Customer Support
MT5 offers more indicators and advanced analysis tools than MT4 including a built-in economic calendar, 21 timeframes, plus a Depth of Market feature. Still, MetaTrader 4 remains the most popular platform and has everything needed to implement successful trading strategies. I like that LiteFinance deploys its proprietary copy trading service embedded within the web-based trading platform. LiteFinance pays strategy providers, adding an attractive revenue stream for successful traders. LiteForex Europe offers margin trading on a wide range of instruments, including currencies, commodities, and stock indices.
LiteFinance Review
Traders should have a reasonable level of trust with this broker. There are no bonus deals or promo codes offered by LiteForex Europe in 2024. As per CySEC regulations, the use xcritical courses scam of incentivised trading via bonuses, contests, rebates, etc, has been restricted to protect retail investors.
Traders can access LiteForex’s copy trading environment from the ‘Investing’ section of the website. The performance of all the available trading strategies is presented in the ‘Traders Ranking’ subsection. I did not discover any major discrepancies, and all essential safety information is readily available. I also concluded that LiteForex is pretty upfront about its trading fees. Furthermore, the costs mentioned on the website match the live quotes on the platform.
I recommend traders evaluate LiteFinance as a new broker with limited experience and dismiss any goodwill and trust LiteForex created over 15 years. The most recent developments, starting with the launch of LiteFinance Global LLC, raise notable concerns. LiteForex offers 31 educational lessons available from the client area.
MT5 is arguably best suited for automated trading via its Expert Advisors (EAs) feature. For low-latency algorithmic trading, clients of LiteForex can take advantage of the broker’s VPS offering, affording execution speeds of below 2 milliseconds. The materials are prepared by the well-known independent analytical agency Claws&Horns, which has established itself as a professional in the area of market analysis. Open an account with LiteForex and gain access to quality analysis for free. LiteForex’s research content gives traders a multifaceted overview of the xcritical state of the market and provides them with actionable trading signals.
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. LiteFinance does not provide any of the necessary third-party add-ons to unlock the full functionality of MT4/MT5 and improve the trading environment. The present choices will leave traders with an incomplete and sub-standard experience unless they are willing to invest in upgrades.
Traders’ Blog
It is generally satisfied by a copy of the trader’s ID and one proof of residency document. 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. Despite 16 years as a brokerage, LiteFinance, previously known as LiteForex, appears to undergo unfavorable changes. It could explain its corporate headquarters move and expansion into less-regulated cryptocurrency activities. It is also becoming less transparent with its relaunched website. Regrettably, none had a positive impact, making LiteFinance a less transparent, secure, and trustworthy brokerage.
What Are CFDs?
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. Forex can be traded 24 hours a day, but particular geographical trading sessions depend on the market’s timezone.
Mobile Apps
However, there is a promotional offer to get a rebate on deposit fees, so payments are essentially free. With the latter, commission is charged at $0.5 per lot alongside spreads from 0.0 pips. Spreads on the Classic account are relatively high, starting at 1.8 pips but with no commission.
LiteForex (Europe) does not offer any promotions, including no deposit bonuses. The MT4 and MT5 platforms also use Secure Sockets Layer encryption protocols and extended layers of security if required. You can also get help 24/5 by clicking on the live chat logo, which is available upon login to a demo or live account. Top10stockbroker.com & Indianfranchisereview.com are websites under Medmonx Enterprises Private Limited.