The apps come with the same features as their desktop counterparts and allow for full-fledged technical analysis with custom charting tools and trade execution capabilities. LiteForex Europe’s advanced trading solution is the MT5 platform, designed with the professional trader in mind. The platform boasts dozens more technical indicators than its predecessor, 21 timeframes, and a full set of order types. In addition, traders can take advantage of the economic calendar and depth of liquidity tool. MT4 and MT5 are already popular platforms, which means that there’s xcritical courses scam a need for no introduction. There is also Web Trading, which offers the same features as regular trading but with less hassle – it does not require installation and is easily accessible from any device.
The broker also offers Islamic accounts for swap-free trading, as mandated under Shariah law. Traders who want to open an Islamic account need to contact LiteForex’s customer support and request the service. Its swaps are elevated and not particularly suitable for longer-term trading.
The regulators themselves constantly check on the investment activities, and the broker provides safety by applying strict standards when trading funds that are segregated from company money. The regulatory status is the single most important measure to check because it means a client will be treated fairly according to international laws. Authorities are also standing behind traders and protecting claims or concerns regarding operations. To open a demo account, you have to click on the blue Demo Account tab.
Contents
Deposit and Withdrawal Methods
- If you select a Standard account, the spread for EUR USD is 2.2 and with an ECN account, it’s only 0.1 plus a 10$ commission.
- LiteFinance features a Beginner section on its blog, where it presents educational content featuring dozens of quality articles.
- In my opinion, MT5 is a good option for fast and simple order execution.
- The agent quickly answered the first and simplest question but appeared to struggle with more complex inquiries.
- When making and receiving payments, commissions are automatically reimbursed.
- I performed my tests on a Classic trading account using the desktop versions of MetaTrader 5 and the broker’s proprietary platform.
Essentially, the broker lends the trader money so that the latter can open bigger positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades. Compared to the industry average, LiteForex offers an average amount of forex pairs and commodities, and a high amount of indices. While it provides a decent amount of forex pairs, commodities, and indices, there are no share CFDs, cryptocurrencies, or other lower-risk securities like ETFs and bonds.
Are LiteForex’s Fees Competitive?
LiteForex Europe is a reputable forex broker with a good selection of MetaTrader platforms and mobile apps. Clients benefit from advanced analysis, copytrade features and straightforward fees. Here we’ll review LiteForex Europe’s 2024 trading services in detail, including regulation, minimum deposits, account types, and spreads. LiteForex is a financial and investment company that provides investors with a trading platform for trading forex, metals, and stocks, as well as the ability to mimic deals made by master account holders. Its platform connects worldwide traders to establish a successful community where they may learn from one another and leverage one another’s knowledge to achieve their goals. Since 2005, it has also provided clients with access to Tier 1 liquidity in the currency, commodities, and stock markets.
I like that LiteFinance deploys its proprietary copy trading service embedded within the web-based trading platform. It provides a risk score, all-time percentage-based profitability, how many traders follow the strategy, and the assets under management, as LiteFinance refers to the followed capital of each signal provider. LiteFinance pays strategy providers, adding an attractive revenue stream for successful traders.
Recommended Brokers:
This ensures data privacy and software stability while granting users access to mobile and desktop trading xcritical reviews 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. The ECN account offers generally more favorable conditions, though traders should mind the commission rate.
Is LiteForex a good broker?
A CySEC licensed subsidiary exists for the EEA, the UAE, and the Marshall Islands traders. 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.