LiteForex Review 2023, Safety, Platforms and Fees
LiteForex is an unregulated broker operating out of St.Vincent and the Grenadines, where the FSA publicly does not regulate brokers. Unfortunately, LiteForex does not take additional steps to ensure the security of its clients, leaving traders to rely on its 15+ years as a broker with a clean record. LiteForex was founded in 2005 to make the Forex market accessible, safe, easy and profitable for traders from all over the world.
The powerful MetaTrader platform is also available via desktop. We found room for improvement in the category of fees, with wide spreads in some instruments. Regularly updated and carefully selected learning materials and Forex strategies, described by professional traders. ForexPeaceArmy.com has advertising and affiliate https://forex-review.net/ relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. If you have an idea to start earning more than you do now, then you just need to turn to Lite Forex.
Signals can be filtered by seven time frames ranging from one minute to one day. Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful.
As with their research section, LiteForex has made an impressive effort with its educational materials. There is an in-depth collection of articles for beginners, covering topics ranging from basic forex concepts to risk management and creating a trading strategy. Liteforex Europe Limited provides services only to the residents of broker liteforex countries from the European Economic Area , United Arab Emirates, and the Marshall Islands. LiteFinance Global LLC accepts clients from most countries but does not provide service to residents of EEA countries, USA, Israel, Russia, Japan, and some other countries. LiteForex offers 24/5 support across phone, live chat, and email.
Both platforms are highly sophisticated and accommodate the needs of both beginner and experienced traders. However, because LiteForex only provides trading in the forex markets, both platforms will do. LiteForex is a very specialized online trading brokerage as they primarily facilitate the trading of forex with a wide selection of currency pairs. See these lucrative financial markets overviewed below. LiteForex company began its work in 2005, their activity is focused on online trading.
The LiteFinance YouTube channel has educational videos ranging from trading psychology to crypto trading strategies. Both beginners and advanced traders can benefit from the available educational materials. Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders. LiteForex caters to beginner traders by providing them with extensive educational material in their comprehensive education centre.
- LiteForex is an Forex Broker based in Marshall Islands.
- The mobile applications available include; Forex Analysis, Forex Signals, Trading Strategies, Mobile Trading, Forex Digest, and Currency Rates.
- We rated LiteForex as having an average level of transparency.
- When choosing a broker, trustworthiness is one of the most important things to keep in mind.
- Different regulators provide different levels of protection.
Forex.com also offers quality education for beginner traders. The SMART Signals service and the Performance Analytics tool present the best value-added services. LiteForex offers traders the selection between two of the most popular and loved trading platforms in the world, the MetaTrader 4 and MetaTrader 5 trading platforms.
LiteForex supports mobile trading by providing their clients with an entire suite of proprietary mobile trading applications. The mobile applications available include; Forex Analysis, Forex Signals, Trading Strategies, Mobile Trading, Forex Digest, and Currency Rates. Liteforex LTD is a member of the Investor Compensation Fund, which guarantees that all of its clients’ funds are secured and insured . Liteforex LTD is registered in accordance with the requirements of the following countries’ regulatory bodies. Forex trading can involve the risk of loss beyond your initial deposit.
I think that in the future this will be fixed and then the company will have no downsides”Anton. The analytics section of the web trading platform also has an economic calendar and trading signals. Trading recommendations are based on technical indicators such as moving averages, MACD, Bollinger Bands, Ichimoku, and Stochastics.
Needs to review the security of your connection before proceeding. Sign up to get the latest market updates and free signals directly to your inbox. LiteFinance Global LLC does not provide service to residents of the EEA countries, USA, Israel, Russia, Japan, and some other countries.
Because this broker do not consider about customers. They will remove the credit bonus as soon as they want it. I’m with this broker from very start of my trading career.
Disappointed. Not a professional broker at all!
Since, the company has services that help in the development of this activity” Vladimir. In order to start working with broker LiteForex rip off reviews you need a minimum capital to become a full-fledged trader. LiteForex profits from the bid/offer spread, commissions, overnight financing fees, and miscellaneous account-related fees. We judged this material to be well-written and insightful. A report focused on Ichimoku indicators is released multiple times daily for purely technical traders. These reports include concrete buy and sell signals with take profit and stop-loss levels.
In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, the size of the company, and how transparent they are in terms of information being readily available. Different regulators provide different levels of protection. Visit our methodology page to learn more about our review and rating process. While we adhere to strict editorial integrity, this page may refer to our partners’ products.
There is slippage with first broker in Vietnam.
We can see that the average spread for EURUSD is 0.5 pips, a competitive level. They also offer a proprietary web trading platform and mobile app. Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis. In our rating, we check the contact methods available, how accessible a live agent is and how helpful the responses are. This information will allow you to know if a broker can provide full support when you need it. There are helpful built-in features such as the availability of sentiment data, showing you the percentage of clients that are buyers and sellers.
The company has corrected all wrong values and sent all positions back to the Market. If some of your positions were closed at non-market prices and were not restored, contact our trading department please via email. For example, if you want to withdraw 1000 EUR you’ll only get 966 EUR and the rest is the commission. I’ve worked with other brokers and they have never charged a withdrawal fee. You can now buy and sell stocks of the largest companies in the world in one user-friendly stock trading app. From Pfizer to BMW — the stocks of all the best-performing companies from all continents are available in LiteForex’s stock app.
Please be aware and exercise caution when investing. You can check our platform for information before trading. LiteForex offers Social & Copy trading services such as MQL5 Copy Trading. LiteForex offers variety of fund withdrawal methods such as International Bank Transfer, Mastercard, Neteller, Perfect Money, QIWI, Skrill and VISA. LiteForex sets Margin Call to 100.00% and Stop Out to 20.00%.
In addition, when trading with a broker regulated by CySEC, client funds are insured by the Investor Compensation Fund for up to €20,000. When trading forex and CFDs, it is crucial to know a broker’s strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers.
Traders can view each instrument in nine time frames, from one minute to one month. Traders can set up a list of their favorite instruments and follow live quotes in a Market Watch panel. A full-sized contract is 100,000 units of the base currency .
After conducting in-depth research on the LiteForex online trading brokerage, it’s evident that the broker is highly competent and very reliable. The brokerage provides an excellent selection of online trading platforms to choose from and a wide array of tradeable assets to invest in and trade. The level of customer support is phenomenal and LiteForex offers a variety of favorable trading fees based off the trading account the trader chooses. All in all, if you’re looking for a reliable online trading brokerage to trade forex and other financial assets, LiteForex could be the broker for you. The brokerage specializes in the trading of forex and has been providing reliable and innovative forex trading services since their establishment in 2005.