Plamen’s favourite trading instruments include FX majors and gold. 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.
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 a low number of share CFDs and indices, and an average number of currency pairs and commodities. The Forex Analysis app is an innovative tool that helps traders stay informed of the latest market developments even on the go. The highly informative technical and fundamental analyses provide the user with xcritical website a clear and comprehensive picture of the underlying market dynamics.
- Yes, LiteForex regularly runs promotions and offers bonuses when opening an account or making the first deposit.
- This feature is particularly useful for newcomers looking to learn from experienced traders or those who don’t have time for active trading.
- The ECN account is a much better variant for trading as all the other terms are the same for both Classic and ECN account types, except that spreads are much lower on ECN accounts.
- In addition to these regulations, the broker has a number of security measures in place to protect client funds.
- In addition to these charges, a fee is applied for inactive accounts as a 3 EUR monthly cost.
The spread varies depending on the trading instrument and market conditions. Major forex pairs like EUR/USD typically have the tightest spreads. LiteForex has two retail account types – Classic and ECN – with a minimum deposit of $50. The list of available base currencies includes USD, EUR, GBP, xcritical scam and PLN.
LiteFinance App
Feedback and rankings from authoritative sites like « Trustpilot » on the TradingFinder website assist all traders. Brokerages occasionally offer bonuses and promotions to attract new traders and reward existing ones. xcritically, LiteForex does not offer any deposit bonuses or promotional offers. This feature is particularly useful for newcomers looking to learn from experienced traders or those who don’t have time for active trading.
- 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.
- LiteForex is one of those brokers with limited trading asset variety; it provides access to three asset classes, including the Forex market and Indices.
- However, the content doesn’t get updated as often as it used to, which is a bit of a letdown.
- However, its MetaTrader charts feel somewhat clunky, and the broker’s spreads are relatively high.
LiteForex is a regulated broker offering Forex pairs as its main trading product. The broker has a social trading platform and offers ECN technology which is available together with automated withdrawals, making the trading process very comfortable and streamlined. But the broker has high spreads and commissions and may not be suitable for traders who prefer low trading fees and commissions.
LiteForex’s fees are generally uncompetitive, with spreads that exceed the industry average across most asset classes, except for share CFDs. On a positive note, the broker charges a relatively low inactivity fee and offers free deposits and withdrawals. 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.
Copie os traders bem-sucedidos
Both of LiteForex’s accounts require a $50 minimum deposit and do not have minimum distance restrictions on stop or limit orders. The Classic account is spread-based, while the ECN account features raw spreads with a commission. Both support a wide range of trading styles, including scalping, hedging, and automated trading. LiteForex offers 164 CFDs across currency pairs, commodities, shares, and indices. The range is sufficient for most retail traders, but the addition of cryptocurrencies or lower-risk securities like ETFs or bonds would significantly enhance its offering. My live testing revealed that LiteForex’s swaps are average to high compared to the benchmark.
Is Any Copy Trading Option Available on LiteForex?
In conclusion, if you are not from one of the allowed countries mentioned above, this broker is not for you. TradingFinder has developed a comprehensive list of MT4 and MT5 indicators that you can use for free. Now, type in your phone number and wait for another OTC; Submit the verification code sent to your number. For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars. Contracts for difference (CFDs) are derivatives that speculate on the underlying asset’s price without physical ownership. That said, if you’re a high-volume algo trader or an intraday trader on the lookout for your next setup, LiteForex could be a solid match.
LiteFinance Global LLC does not provide services to residents of the EEA countries, USA, Israel, Russia, and some other countries. 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.