LiteFinance Review year Pros & Cons Revealed

Overall, Liteforex is a dependable, CySEC-regulated broker with two low-deposit accounts that are suited more to beginners than experienced traders on the MT4 and MT5 platforms. Its variable spreads average at 2.0 pips, which is significantly wider than other brokers. Classic Accounts only allow base currencies to be denominated in USD, EUR, and MBT. The minimum deposit on this account is 50 USD, and transactions start at 0.01 lots.

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. LiteForex’s educational suite includes archived webinars, a glossary of terms, a set of books written by professional traders, and an extensive blog with topics for beginners and experienced traders alike.

  1. Additionally, its Indian clients will be trading under the LiteForex subsidiary registered in Saint Vincent and the Grenadines, which provides virtually no regulatory oversight.
  2. The underlying trading assets offered by LiteForex includes what is actually a pretty good selection of more than 50 FX pairs, as well as more than 20 different cryptocurrency pairs.
  3. It also provides recommendations for trade opening with entry/exit points that are updated throughout the day, which are intended for medium-term trading strategies.
  4. This may impact how, where and which companies / services we review and write about.
  5. Profit from changes in the price of currencies, precious metals, commodities, cryptocurrencies, indexes, and stocks.

It also provides its clients negative balance protection, so that they cannot lose more than is in their trading accounts. 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. LiteForex offers customer support 24/5 via email, telephone, and live chat. For the purposes of this review, we found customer support to be slow and sometimes unresponsive. Traders receive independent market news and analysis from third-party provider, Claws & Horns.

معامله. چت. سرمایه گذاری با شرکت LiteFinance

I always recommend that traders check them before evaluating the total trading costs. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. LiteFinance maintains one regulated subsidiary for EEA, UAE, and Marshall Islands-based traders. Liteforex’s market analysis materials are in-depth, comprehensive, and frequently updated.

The LiteForex site features extensive information about the account types and assets available to buy and sell using its platform. Customer service contact information xcritical website is prominently displayed for smooth communication with the support team. LiteForex provides up-to-date reviews and forecasts for all market instruments.

معامله ی خود را همین حالا با شرکت LiteFinance شروع کنید

While the ECN account by far provides the tightest spreads, it does come with commission fees on all transactions. Meanwhile, the Classic account comes with much wider spreads but commission-free trades. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade.

LiteForex merely presents them as two buttons and clicking on them redirects to an account opening page. LiteFinance also offers a lightweight web-based browser with a user-friendly interface. It is ideal for manual traders and superior to the MT4/MT5 web-based alternatives. LiteForex users can choose between MetaTrader 4 and MetaTrader 5 as platforms for their trading activities. This ensures data privacy and software stability while granting users access to mobile and desktop trading 24 hours a day. The broker’s excellent customer service (which is available day and night most days of the week) adds an extra element of reliability to an already impressive service offering.

Each one of these is graded, and an overall score is calculated and assigned to the broker. However, having accounts denominated in GBP is an advantage for British traders who will likely have bank accounts denominated in GBP, and who will be able to avoid paying conversion fees on deposits and withdrawals. Some of the most overlooked trading costs are the non-trading fees that are charged by brokers. These fees can significantly affect your profitability and so should be carefully scrutinised.

However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers. Overall, Liteforex’s CFD offering is limited compared to what is available at other similar international brokers, which may leave more experienced traders dissatisfied.

LiteFinance wishes you a Happy Eid al-Fitr 2024

LiteFinance caters to most international traders, including the UK, the Philippines, Malaysia, and Nigeria. Like most international brokers, LiteFinance does not accept traders from the US. A combination of in-house research and third-party analytics by Claws & Horns offers traders comprehensive market coverage and trading ideas.

years in the market

Available for free to all LiteForex clients, Claws & Horns provides fundamental and technical analysis, video reviews, and various signals. It also provides recommendations for trade opening with entry/exit points that are updated throughout the day, which are intended for medium-term trading strategies. Overall, LiteForex offers fewer trading account currencies than most other large international brokers, but it offers accounts denominated in GBP. Apart from the high trading costs, other drawbacks are that LiteForex charges high withdrawal fees.

His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political xcritical affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of how we review LiteForex’s product offering. Central to that process is the evaluation of the broker’s reliability, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review.

All applications and their contents are supported in more than eight languages and are regularly updated. For traders that trade in large volumes (more than 10 lots a month), it is better to open an account denominated in USD at a digital currency bank, especially for trading on assets such as the EUR/USD. This is because when trading a USD quoted currency pair with a GBP account, there will be a small conversion fee for every trade made. LiteForex’s non-trading fees are average compared to other similar brokers. Overall, trading costs at LiteForex are higher than average on both account options. Overall, because of its history of responsible behaviour, the fact that LiteForex segregates all client funds, and provides its traders with negative balance protection, we deem Liteforex a safe broker to trade with.