Despite 16 years as a brokerage, LiteFinance, previously known as LiteForex, appears to undergo unfavorable changes. It could explain its corporate headquarters move and expansion into less-regulated cryptocurrency activities. Regrettably, none had a positive impact, making LiteFinance a less transparent, secure, and trustworthy brokerage. When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are. LiteForex offers multilingual support available 24/5 via live chat, email, and phone. Agents respond fairly quickly to queries and have a basic understanding of LiteForex’s services.
حساب ECN لایت فارکس
Litefinance is a great and safe broker and gives good forex trading services. It’s fast and reliable and it is one of the rare brokers that is transparent enough to have a live chat room in their website so the customers can interact with each other and share trading ideas together. XTrend Speed is a trading platform that offers real-time market quotes for over 280+ products, covering global markets of foreign exchange, stocks, commodities, indexes. LiteFinance notes a 30% deposit bonus for the Classic account, where trading costs are 80% higher than its ECN account. LiteFinance offers three partnership programs, but limited information exists. The LiteFinance company has developed a large range of trading accounts for any category of traders.
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LiteForex also does not charge a handling fee for withdrawals, but external fees may apply. Compared to the industry average, LiteForex offers an average amount of forex pairs and commodities, and a high amount of indices. In this review, I tested the MetaTrader 5 platform, which features multiple essential tools, such as one-click trading, an alarm setting option, and a market depth tool.
Forex trading instruments and accounts from the LiteFinance broker
The unexplained move of its headquarters from one unregulated Forex jurisdiction to another raises red flags. Since rebranding, LiteFinance lacks transparency across its core trading environment. Until this broker fixes its issues and returns to the same standards established over 15 years as LiteForex, I advise extreme caution. 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.
Account Types
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. LiteForex offers robust research content catering to the needs of novices and experienced traders alike. The broker offers market breakdowns developed in-house and also incorporates content from Claws&Horns. The broker offers 73 instruments in total, notably lacking any share CFDs and cryptocurrencies.
The Cyprus Investor Compensation Fund covers all retail trading accounts (for those not belonging to professional or institutional investors) against broker liquidation to a maximum value of EUR 20,000. 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.
- I appreciated their diversity and sharp focus on technical analysis, fundamental analysis, and trading psychology.
- LiteForex is an excellent trading brokeragethat accomodates traders of all experience levels and is very reputable in theonline trading industry.
- As a chart artist, I have always valued platforms with detailed and versatile charts, and LiteForex’s platform is one such station.
- Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing.
The developer, Liteforex (Europe) Limited, indicated that the app’s privacy practices may include handling of data as described below. 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. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. They contain lots of practical insights, e.g. how to use intraday trading strategies, Fibonacci retracements, etc. LiteForex provides layered educational content that is well-structured and easy to understand.
Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. However, the broker generally charges high trading fees on its Standard account and provides extremely limited instrument offering of about 70 assets. Traders can use the built-in economic calendar, which is an essential tool in a trader’s arsenal. It informs traders of upcoming market events and releases that have the potential to stir price action, thereby creating viable trading opportunities. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage.
LiteFinance maintains the out-of-the-box MT4/MT5 trading platforms, but no introduction exists. 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. With ECN account types and automatic withdrawals, there are some good aspects to it.
They are suitable for most retail traders, but seasoned traders require higher quantities. While the 225 assets offer new traders acceptable entry-level exposure, advanced traders https://investmentsanalysis.info/ will find it inadequate for proper cross-asset diversification. LiteFinance maintains a wide range of trading instruments, advertising 145+ on its website, offering 225.
You can download MetaTrader 5 in the «Trading Platforms» section of your broker’s website. To install the platform, double-click on the downloaded file «litefinance5setup.exe». Choose a directory for installing the program and follow the installation program tips. Discover potential scenarios of cryptocurrency industry development. Register, verify your profile for your data protection, and open a trading account. Liteforex (Europe) LTD provides services only to the residents of countries from the European Economic Area (EEA), the United Arab Emirates, and the Marshall Islands.Full list of countries is available here.
He earned a Bachelor’s degree in Economics and International Relations. Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers. Over the long years of successful work on the Forex trade market, we have managed to figure out how to simplify our system of trading accounts and services to meet better our clients’ needs.
