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. I performed my tests on a Classic trading account using the desktop versions of MetaTrader 5 and the broker’s proprietary platform. The account was opened with the broker’s Liteforex (Europe) Ltd entity. Some features and services may vary depending on where you reside and which entity you open an account with. We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms.
Customer support of LiteForex
We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.
We should admit the good analysis tools they offer as well as their technology solutions. Mobile forex apps make forex trading easier by enabling traders to create filters and get the latest information only for selected trading instruments. These apps feature analytical support for precious metals, oil, and a wide range of currency pairs.
Broker Comparison
Rollovers are small fees that the broker charges for holding your position longer than one day, and they’re determined by what instrument you trade. The amount you pay for trading on LiteForex depends on the type of account. Per lot costs no additional fee and is also listed in the table below, as well as any other expenses incurred by trading their platform with us. Forex, binary options and cryptocurrencies are highly speculative assets. Forex traders should be smart enough not just to make lucrative trades, but also to choose a broker who can best meet their requirements.
Does LiteForex offer a demo account?
Besides being the fastest growing online forex broker in Asia and Western Europe, LiteForex has won several industry awards, such as the Best Broker in Asia, Africa, and Latin America. Also, “World Finance,” a leading financial magazine in Britain, has included LiteForex into its “100 World Finance” list. Even though, there were numerous claims xcritical cheating and complaints from the global traders presenting an impressive collection of issues that were faced during the trading experience they had. The brokerage operating from St. Vincent and the Grenadines remains unregulated. A CySEC-regulated entity caters to EEA, UAE, and Marshall Islands traders.
- Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight.
- Per lot costs no additional fee and is also listed in the table below, as well as any other expenses incurred by trading their platform with us.
- Trading with a regulated broker will limit the potential for fraud and malpractice.
- Spreads at LiteForex Europe are floating from 0 pips with the ECN account, though average spreads start from 4 pips for major pairs and 1 point for major indices.
- As such, all trading and client activity is regulated by the Cyprus Securities and Exchange Commission.
Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. With ECN account types and automatic withdrawals, there are some good aspects to it.
Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders must familiarize themselves with xcritical cheating the safety mechanisms ensured by the entity they want to open an account. All content on this site is for informational purposes only and does not constitute financial advice. Consult relevxcritical professionals in your country of residence to get personalized advice before you make any trading or investing decisions.