The raw spreads from 0.0 pips on the ECN account are much lower and generally fall below the industry average. Most traders will deal with the primary xcritical scammers unregulated brokerage from St. Vincent and the Grenadines. A CySEC licensed subsidiary exists for the EEA, the UAE, and the Marshall Islands traders. The brokerage operating from St. Vincent and the Grenadines remains unregulated. A CySEC-regulated entity caters to EEA, UAE, and Marshall Islands traders. LiteFinance caters to most international traders, including the UK, the Philippines, Malaysia, and Nigeria.

LiteForex Online Trading follows the system of spreads and collects fees from spreads in the classic account. 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. Market breakdowns developed in-house by LiteForex, and available from the website with free access to everybody. The market reviews are detailed and multifaceted containing aspects of economic analysis, fundamental analysis, and technical analysis. I appreciated that each article outlines emerging trading setups on multiple instruments.

How do I deposit funds in a LiteForex account?

LiteForex is a regulated broker offering Forex pairs as its main trading product. The broker has a social trading platform and offers ECN technology which is available together with automated withdrawals, making the trading process very comfortable and streamlined. But the broker has high spreads and commissions and may not be suitable for traders who prefer low trading fees and commissions. ECN accounts offer much more value in trading terms with low spreads, but still, the commissions are higher than with other popular brokers. LiteForex has a very good education center with advanced Forex trading educational materials and books. The broker offers extensive supporting content, multilayered safety mechanisms, and fast but basic customer support.

LiteFinance maintains a blog where analysts provide research and trading signals. 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. Account holders can choose between MetaTrader 4 and MetaTrader 5 as a trading platform. This industry-standard software comes with a raft of features and benefits and is recognized for its data security features, analytics tools, and quick execution times. Spreads in the classic account consider the account type and asset of trade specifically.

Account types available for traders on LiteForex

Furthermore, the costs mentioned on the website match the live quotes on the platform. Since rebranding from LiteForex to LiteFinance, transparency dropped, and issues arose. The high trading costs remain, and at its present state, LiteFinance cannot be said to be a good broker. Traders will conduct all financial transactions from the secure back office of LiteFinance. I find the deposit and withdrawal methods sufficient for most traders and appreciate the inclusion of cryptocurrencies. This broker provides a reliable and engaging copy trading facility that functions as a social media network.

You can set up a demo account for yourself alongside your live CFD account. With ECN account types and automatic withdrawals, there are some good aspects to it. The commissions are a bit expensive though, making its offerings less attractive to seasoned traders.

Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor’s degree in Economics and International Relations.

Unique Features

The latter offers slightly more competitive prices than the typical STP account, but it falls behind the typical ECN account type. The LiteFinance company has developed a large range of trading accounts for any category of traders. Choose the account type that will comply with your trading preferences and open Forex account in just 1 minute. 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. Another strong point is the broad range of forex trading educational resources available on the broker’s website.

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.

1. LiteForex offers robust research content catering to the needs of novices and experienced traders alike.
2. Most traders will deal with the primary unregulated brokerage from St. Vincent and the Grenadines.
3. Spreads in the classic account consider the account type and asset of trade specifically.
4. They cover instruments across different markets and use prominent indicators (Ichimoku, Bollinger, MACD, etc).
5. As noted above, this jurisdiction offers investor compensation up to EUR 20,000 on non-professional trading accounts in the event of brokerage liquidation.

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 customer onboarding process employed by this brokerage is simple, with users offered the option of signing up for a demo account that is compatible with MT4 and MT5. Depositing and withdrawing funds is also straightforward and should pose no difficulties to traders regardless of their experience level. It should be noted that LiteForex applies a slightly different cost structure to its two account types.

The agent quickly answered the first and simplest question but appeared to struggle with more complex inquiries. Thus, I concluded that LiteForex’s customer support is good but could be improved. The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) in EUR/USD with a pip value of $10 for each account. In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and the transparency of information provided.

LiteForex also offers social trading capabilities, and MT5 has inbuilt plugins for this purpose. Additionally, mobile trading is also offered through the MT5 Android app. LiteForex offers commissions or spreads according to the nature of the trading account.

Beginners can choose from multiple guides, books, videos, and more to gain a firm grasp of the ABCs of trading. LiteForex processes most payment requests between several minutes to several business days, depending on the chosen payment method. The broker does not charge deposits and even compensates the client for any third-party banking fees.

Private investors focusing primarily on forex pairs while appreciating transparency and competitive pricing will benefit, especially from this broker’s offering. Another benefit related to the European Union’s financial markets regulations is the negative balance protection feature that applies to both account types. LiteForex offers two retail account types – Classic and ECN – both with a minimum deposit of $50. Traders can choose between EUR, USD, GBP, and PLN as a base currency.

Users can view the trades carried out by top-ranked account holders and imitate their winning strategies as they aim to increase their performance daily. Along with expert advisers and customer xcritical cheating support, the following are also available. ECN charges a commission for trades and Classic charges are based on spreads. Social trading and copy trading, trading signals, and email alerts along with guaranteed stop loss bring safety to traders.