LiteForex

Editor's Score
Pros
  • Excellent selection of trading platforms
  • Wide array of financial assets
  • Excellent customer service and support
Cons
  • Only variable spreads
  • Primarily only a forex broker
  • Based offshore
Min Deposit
$50
Max Leverage
1:500
Mini Account
Bonus
50%
Platforms
  • MT4
  • MT5
Withdrawal Options
  • Credit Cards
  • Bank wire Transfer
  • Bitcoin
  • Neteller

Review

Introduction

LiteForex is a large and established online trading brokerage who serves the international markets by accepting traders from around the world and offering their services in over 10 languages. The brokerage specializes in the trading of forex and has been providing reliable and innovative forex trading services since their establishment in 2005. LiteForex is owned and operated by LiteForex Investments Ltd. and is registered in the Marshall Islands with their headquarters located at Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. LiteForex utilizes ECN trading technology while also supporting social trading and facilitating copy trading. The brokerage cares deeply about their clients and makes it easy for every type of trader to get started with them. Therefore, should you choose LiteForex as your primary forex trading brokerage? Find out in the following review where we analyze all aspects of this lucrative trading broker and discover if LiteForex is the right online trading brokerage for you.

Trading Conditions

The trading conditions at LiteForex are very favourable for traders as they benefit from tight spreads and zero commission trading. All trades are executed instantly via market execution because LiteForex is an ECN broker. Traders have the ability to trade on margin of up to 1:500, can trade minimum lots of 0.01 and maximum lots of 100. The margin call level is 100% and stop out level is 20%. Some additional benefits unique to LiteForex is negative balance protection for ECN Trader accounts and a social trading environment on all accounts. All in all, traders should be satisfied with the trading conditions set by LiteForex.

Products

LiteForex is a very specialized online trading brokerage as they primarily facilitate the trading of forex with a wide selection of currency pairs. However, they also offer the trading of various other financial assets across the global markets including trading of the global stock indexes and CFD trading on gold, silver, oil, cryptocurrencies and shares of the world’s largest companies. See these lucrative financial markets overviewed below.

Forex

· 7 major currency pairs

· 21 minor currency pairs

· 28 exotic currency pairs

Cryptocurrencies

· 22 cryptocurrency pairs

· 15 different cryptocurrency assets

CFD Shares

· NYSE

· NASDAQ

· XETRA

· MOEX

Indexes

Trade 11Global Stock Indexes


Regulation

As LiteForex is based in the Marshall Islands, they are licensed and regulated in accordance with the Marshall Islands Business Corporation Act. Therefore, the brokerage is trusted to provide safe, secure, and transparent online trading services and has been doing so for over 13 years.

Platforms

LiteForex offers traders the selection between two of the most popular and loved trading platforms in the world, the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. Both platforms are highly sophisticated and accommodate the needs of both beginner and experienced traders. All in all, it doesn’t really matter which trading platform LiteForex clients choose as the MT5 trading platform is essentially the same as the MT4 trading platform, only it is better suited for trading financial assets other than forex. However, because LiteForex only provides trading in the forex markets, both platforms will do.

The MetaTrader platforms feature fully customizable user interfaces as well as watch lists, market news integrations, advanced order windows, a sophisticated charting package and more. Traders benefit from lightning fast execution on their trades and can trade directly from the charts with one click trading. Also, traders can participate in auto trading with the use of Expert Advisors (EAs), which use algorithmic trading to trade for you. Another cool feature is the ability to follow and copy other successful traders trades with the social trading and copy trading features.

Mobile Trading

LiteForex supports mobile trading by providing their clients with an entire suite of proprietary mobile trading applications. In total, there are 6 different mobile apps that can be downloaded for free from the Apple App Store and the Google Play Store.The applications are compatible with both smart phones and tablets and operate very well. The mobile applications available include; Forex Analysis, Forex Signals, Trading Strategies, Mobile Trading, Forex Digest, and Currency Rates.

Pricing

LiteForex is a zero commission trading brokerage and only charges trading fees through floating spreads on all types of trading accounts. The spreads are very competitive with the industry standards but are nothing extraordinarily low. On ECN trading accounts, traders will see floating spreads as low as 0.9 pips and average spreads of around 1.1 pips. For classic trading accounts traders see average spreads of 1.8 pips and on Cent accounts, the floating spreads can reach all the way up to 3 pips.

Deposits & Withdrawals

LiteForex provides their traders with a variety of deposit and withdrawal methods for convenient Forex trading. All of the same methods used to deposit funds can be used to withdraw funds. Deposits are free of charge and withdrawals are subject to withdrawal fees. The minimum deposit amount varies from $10 for most payment methods to $100 for some Bank Wire Transfers. As for withdrawals, the minimum withdrawal amount is not stated. See below, all of the available payment methods.

  • MasterCard
  • Visa
  • Bank Wire Transfers
  • Skrill
  • Neteller
  • Perfect Money
  • QIWI
  • Bitcoin
  • Litecoin
  • Monero
  • Ethereum
  • Bitcoin Cash
  • Bitcoin Gold

Customer Support

The customer support provided by LiteForex is truly phenomenal. It’s evident that the brokerage takes the success of their clients very seriously as they do everything in their power to help their traders succeed. For instance, traders have access to numerous eBooks, tutorials, strategies, articles, and more to help them become better traders. Also, support representatives can easily be contacted 24 hours a day, 7 days a week via live chat, email, support forums, and telephone support that supports call back functionality. Therefore, traders will always be able to get in touch with a representative easily and quickly. Also, traders can interact with representatives via the brokerages various social media channels including; Facebook, Twitter, Google+, Instagram, LinkedIn, Pinterest, Telegram, and YouTube.

Research & Education

LiteForex caters to beginner traders by providing them with extensive educational material in their comprehensive education centre. Traders have access to a Forex glossary, eBooks, tutorials, trading strategies, trading indicators, and a blog with loads of helpful information. In addition to the educational resources, traders also have access to an economic calendar, analytics, various financial calculators, economic news, and currency rates. All in all, traders at LiteForex are given everything they need to succeed.

Noteworthy Points

LiteForex is an excellent trading brokerage that accomodates traders of all experience levels and is very reputable in the online trading industry. The brokerage has been awarded various awards by multiple online financial publications for their level of trading services and customer care and support. LiteForex features a live demo account for traders to practice on and awards new traders with a bonus up to 50% for depositing funds.

Conclusion

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.

Comparison

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