LiteFinance Review year Pros & Cons Revealed

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. These allow traders to examine various market developments from different angles and to exploit the underlying trading opportunities in multiple ways. Dormant accounts are charged an inactivity fee of $3, which is quite low. Deposits and withdrawals are cost-free with LiteForex, though third-party banking fees may apply. This is only true for withdrawals, as the broker reimburses its clients for any processing fees incurred when depositing.

Is LiteFinance a scam?

Perhaps, you are using tradebalance trading strategy that disallowed in this broker. The only thing that’s a bit negative about it is the spreads they charge on stocks. International trade happens through an offshore entity in the Marshall Islands; there are also reports of poor customer service experiences from traders. Zero Fees – LiteForex reimburses payment system fees as balance funds whenever customers make a deposit. Thanks to the online brokers’ zero fee promotion, it automatically credits deposit fees into traders’ accounts.

1. DailyForex.com adheres to strict xcriticals to preserve editorial integrity to help you make decisions with confidence.
2. This company is a registered broker operating from Cyprus, an EU member state located in Southern Europe.
3. Additionally, mobile trading is also offered through the MT5 Android app.
4. LiteForex gives customers the opportunity to practice trading without risking their hard-earned money.
5. 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.

Leverage

Also, traders’ funds are segregated from company funds, and the application of the standard covers investment protection. No, LiteForex is not a scam, the broker is highly regulated and authorized by a top-tier regulatory body ensuring trading safety. We marked that the broker took all the necessary steps to improve the trading experience and provide transparent conditions after traders’ complaints.

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. This broker provides a reliable and engaging copy trading facility that functions as a social media network. Users can view the xcritical scammers trades carried out by top-ranked account holders and imitate their winning strategies as they aim to increase their performance daily. Additionally, the broker offers a range of educational guides, which are freely available on the website. I appreciated their diversity and sharp focus on technical analysis, fundamental analysis, and trading psychology.

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 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.

LiteForex Review 2024

Also, money transfers to or from the account depending on your residency and its applicable policies, in addition xcritical rezension to entity rules of LiteForex that apply. Depending on the LiteForex account type you select you will get specified fee conditions either based on spread only starting at 2 points or pay off commission per lot and get interbank spread from 0 pip. Based on our research, LiteForex gives its clients access to 56 currency pairs, as well as 6 valuable metals, 16 cryptocurrencies, 37 CFDs, and 11 Global stock indexes. 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.

Brokers By Licenses

The broker offers 73 instruments in total, notably lacking any share CFDs and cryptocurrencies. On the one hand, the broker should be praised for offering plenty of minor forex pairs, such as USDTRY, USDMXN, and GBPSEK. Founded in 2008, LiteForex is a forex and CFD broker based in Cyprus, authorized by CySEC. It supports the MetaTrader 4 and 5 platforms and offers VPS hosting for low-latency trading. LiteForex Europe has an extensive mobile app offering, consisting of not only the MetaTrader apps but also the broker’s own apps tailored to forex signals, analysis, and strategies. Overall, tighter spreads and cheaper commissions are offered at other brokers, such as XM.