You will find all trading resources and educational materials that this broker offers under the “for beginners” section. Immediately, it should be understood that LiteForex does not have material that caters to intermediate or advanced traders. This is not a bad thing per se, but other top-tier online brokers do cater to all traders when it comes to this. In terms of trading platforms, LiteForex (LiteFinance) offers MetaTrader 4 and then also MetaTrader 5.
According to personal preferences, the trader can decide in favor of desktop trading or mobile trading. All trading platform listed below are free for LiteForex clients. It should be noted that LiteForex applies a slightly different cost structure to its two account types. The Classic account features 0% commissions with the spreads, including a markup, as outlined above. However, the ECN account, which is aimed at professional and institutional users, charges a flat commission of $5 per round trip per lot. LiteForex users can choose between MetaTrader 4 and MetaTrader 5 as platforms for their trading activities.
Traders needing some hands-on experience with LiteForex would benefit much from opening a demo account with the broker. LiteForex has been an online broker for almost two decades as they began operating in 2005. They hold a brokerage license with CySEC and operate throughout the globe providing ECN forex trading and CFD trading in the form of commodities, stocks, indices, and crypto.
- These range from “best retail forex broker” to “best trade execution.”.
- Typically we do not include this for other top-tier brokers and ECN brokers, but LiteForex does not have much in the way of trading education.
- Any financial decisions you make are your sole responsibility, and reliance on any site information is at your own risk.
- 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.
- Our mission is to help investors to lower risks by providing unbiased reviews and ratings.
As such, we will be going through a tutorial on how to open up an account from this site. For the most part, the registration process for other top-tier brokers is pretty much standardized, and the signup process for these two separate entities should not be that different. However, it should be noted that this broker offers MT4, which is available for iOS, and previously, Apple had banned MetaTrader from its App Store. Then in terms of the customer review score for LiteForex and LiteFinance, there are not enough reviews to decide whether clients find this broker reputable when looking at their Trustpilot score. Before we jump into the broker regulations of LiteForex, it should be noted that depending on your region, you will be redirected to the entity website of this broker, as you can see in the image below.
Do I Have Negative Balance Protection with This Broker?
Also popularly known as copy trading, beginner traders can observe and then mirror the trades of successful traders to improve their trading skills in no time. Additionally, copy trades have always been found to be a more engaging way of upskilling one’s trading skills. You will need to head to the “profile” section and then click on the “verification” tab in it to show what you still need to do to complete your identity verification. Remember that you will need to do this if you wish to deposit and withdraw funds from your account.
LiteForex Trading Platform – Review, Top Features, Set-up Process, Benefits & more
Alternatively, for those keen on trading but don’t have that extra money to burn for testing the waters, opening a demo account is an option worth considering. A demo account affords a trader most of the privileges of a paid trade account without the dollars and limitations. Liteforex Investment Company offers two types of accounts; CLASSIC and ECN types of trading account. Zero Fees – LiteForex reimburses payment system fees as balance funds whenever customers make a deposit.
Typically we do not include this for other top-tier brokers and ECN brokers, but LiteForex does not have much in the way of trading education. We should point out that this section is also lacking https://xcritical.solutions/ in terms of the amount of “terms” there are available. Remember that when you head to the LiteForex website, you will be redirected to the LiteFinance website, depending on your region.
How to Own LiteForex Online Trading Platform?
Beginning traders need to be very cautious and learn from the demo account and seniors initially. Choices are the MT4 and MT5 platforms and the mobile apps for xcritical cheating both android and iOS systems. Trade in the leading MetaTrader 4 and MetaTrader 5 platforms along with mobile apps catering to both android and iOS systems.
Manage imported materials or process manually inputted data according to the xcritical setup and the predicted changes. However, they seem safe because they have been in operation for almost two decades and have continued to provide brokerage services. However, we would suggest looking at some other brokers we have reviewed first because many others offer better services and features overall. The affiliate program is just like any other, and partners can get up to 15 USD per trade conducted by a referral.
In terms of withdrawal methods, you will also need to visit your client profile to see what options are available. However, the methods are the same for deposits and withdrawals when you head to this section. The LiteFinance and LiteForex website doesn’t have a search function. This means that individuals cannot find information on the broker’s negative balance protection policy.