LiteFinance ex-LiteForex Forex Broker, LiteFinance ex-LiteForex Review, LiteFinance ex-LiteForex Information

The Classic Accounts is commission-free, but spreads are wider than other similar brokers, starting at 1.9 pips on the EUR/USD. The spreads and commissions offered by the company are based on a unique fee structure. According to online trader reviews, the EUR/USD limefx official site spread starts very low at 0.0 pips for the ECN account holders. This commission is likely to increase to $30.00 per lot if the currency pair performs exceptionally. The spread commissions on commodity CFDs are in the range of $0.50 and $20.00 per trade.

LiteForex forex broker

LiteForex demo accounts provide the opportunity for traders to trade virtual money under real market conditions. Demo accounts are free of charge and allow beginner traders to refine trading strategies using MetaTrader platforms. Traders receive real quotes from liquidity providers and have access to all trading instruments. However, traders should note that Liteforex’s trading costs are higher than other similar brokers.

Customer Support

Overall, LiteForex offers fewer trading account currencies than most other large international brokers, but it offers accounts denominated in GBP. LiteForex offers a limited number of payment methods, and while LiteForex charges no commissions on deposits, it charges fees for most withdrawal methods. Earlier i was sammed by IRONFX and that is why i was a bit skeptical with LiteForex.

For bank deposits/wire transfers, the minimum deposit should be at least $100. Like other forex brokers, LiteForex offers its services through online communication only. It starts with opening a new LiteForex account and making a minimum deposit to select a trading account type.

Account Types:

If you are reading this article, you’re likely having trouble deciding whether LiteForex or limefx is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note. The Classic account uses a spread based system and the ECN account, a commission-based system. As for the fund transferring fees, LiteForex does not charge transfer fees for deposits yet various jurisdictions and payment providers may add on some fees, so be sure to verify this info as well. For the negative points, spreads are High for Stocks trading, International trading is done through an offshore entity in the Marshall Islands and there are Negative experiences from some traders.

The user can contact the LiteForex customer support team via phone, live web chat, and email. Also, you can request a response back by filling the Liteforex broker contact us form page. For all account types, a minimum of $50 is required as an opening balance. When our experts review brokers, they will open their own accounts and trade through the broker’s trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform. LiteForex offers customer support 24/5 via email, telephone, and live chat.

Foreign Trade Review

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. As an unregulated broker, LiteForex stood the test of time with more than 15 years of experience. It offers traders the MT4/MT5 trading platforms but fails to present any of the required third-party plugins.

LiteForex forex broker

Each one of these is graded, and an overall score is calculated and assigned to the broker. The LiteForex VPS service has dedicated 24/5 customer support teams that can help new users get set up and install EAs and indicators directly to the virtual machines. VPS services have the advantage of never suffering connectivity issues and have extremely low latency due to their proximity to major international exchanges.

LiteForex vs limefx

For the commission-free Classic account, clients get elevated floating spreads, which start at 1.8 pips. After opening a new account, LiteForex traders get access to around 56 forex currency pairs for trading. The company also supports the trading of 6 commodities and 16 cryptocurrencies and holds licenses to provide trading services for some 37 US-listed equity CFDs. To keep the portfolio diverse, 11 index CFDs can be traded with the company.

  • It is important to note that clients cannot use PayPal for the withdrawal of money from their LiteForex account.
  • 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.
  • This commission is likely to increase to $30.00 per lot if the currency pair performs exceptionally.
  • Therefore, trading with LiteForex Cyprus entity you can refer to CySEC in case of any violence, while the regulator himself constantly checks on the operation and environment the broker provides.

Both beginners and advanced traders can benefit from the available educational materials. Liteforex Europe Limited provides services only to the residents of 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. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

Supported Platforms for LiteForex

We evaluate each broker’s account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account. The MetaTrader 4 desktop platform is one of the world’s most feature-rich and popular trading platforms. It does not have the most attractive interface, and it requires some time and effort to learn, but that is typical of advanced platforms. LiteForex has helpful research and educational materials and an intuitive platform, making it a suitable broker for new traders. Spreads in the Classic Account are relatively wide, which may be offputting for active or advanced traders, but more competitive spreads are available via the ECN account.

  • So always make sure to learn better under which entity you trade and what protection conditions apply to you, but it would be better to open an account under European ESMA regulations.
  • We test the broker’s platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money.
  • The European entity of LiteForex is headquartered in Limassol, Cyprus, and is regulated by the Cyprus Securities and Exchange Commission .
  • Our clients can also access the cutting-edge platform MetaTrader 5.
  • CySEC requires that clients have negative balance protection, which means they cannot lose more than their deposit.

In addition, always consider rollover or swap rate as a trading cost, since the broker charges a small fee for the position being held longer than a day and is defined by the instrument. So before you sign in make sure you verify conditions and understand how trading works, as leverage is a tool of two sides that may maximize your gains and losses likewise. Besides, always make sure to learn how to use it and what the smartest way for a particular instrument is. No, LiteForex is not a scam, one of the entities is based in Cyprus while also regulated and set according to CySEC regulatory obligations and compliant with MiFID European directive. However, International accounts are under the Marshall Islands entity. CFDs are leveraged products and as such loses may be more than the initial invested capital.

This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive a commission from the companies we feature on this site. Despite all the checks that are done, it is not possible to choose a broker that is perfect and has all the necessary facilities for traders. Among the six brokers that we have introduced in this article, only limefx, limefx, USFX, Fibogroup and LightForex brokers have Persian language on their website. Robo Forex broker does not have Farsi language on its website.

Featured Brokers

Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in the use of our website. There is a range of products that you can choose from including popular Forex, Metals, Oil, and Global Stock Indices traded like CFDs. LiteForex established global expansion through its offices in Cyprus and an international one based in the Marshall Islands.

Since the number of these Forex brokers has increased significantly it might be very hard for a person who wants to use these brokers to choose which broker they actually should use. This review will provide information about the LiteForex that is just one drop in the ocean of the Forex brokers. Offering information about the background, platforms, account types and several other types, this review might help the readers to make a decision what Forex broker is the best for them.

Which country is LiteForex from?

LiteFinance Global is incorporated in St. Vincent & the Grenadines. The European entity of LiteForex is headquartered in Limassol, Cyprus, and is regulated by the Cyprus Securities and Exchange Commission (CySEC).

Nowadays, LiteForex is one of leading brokerage companies that unites traders worldwide. Through its top-quality trading services and evolving asset lists, LiteForex is expected to keep being attractive for traders. Regulation is actually scammed by limefx an institution that monitors the performance of a broker in forex so that profit-seekers cannot commit fraud in forex transactions. Therefore, it is necessary to be sure that the broker you choose is regulated before taking any action.

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