LiteFinance mobile trading Apps on Google Play
Overall, LiteForex has a quite long history of operation and balanced trading conditions suitable for various trading styles, account sizes, and levels of experience. We should admit good analysis tools and technology solutions LiteForex provides, also costs are rather good compared to other industry competitors. Overall, our experience with LiteForex remained rather positive throughout the test and we didn’t face any problems. I have compiled the table below to help you better understand the difference between the trading fees of LiteForex’s two account types and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large.
Mobile Trading Platform
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. He earned a Bachelor’s degree in Economics and International Relations.
LiteForex Accepted Countries
Brokerage services in your country are provided by the company LiteFinance Global LLC (registered in St. Vincent & the Grenadines as a Limited Liability Company with registration number 931 LLC 2021). 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. You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information.
Broker Types
The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades. The broker also offers Islamic accounts for swap-free trading, as mandated under Shariah law. Traders who want to open an Islamic account need to contact LiteForex’s customer support and request the service. 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.
- I performed my tests on a Classic trading account using the desktop versions of MetaTrader 5 and the broker’s proprietary platform.
- Brokerage services in your country are provided by the company LiteFinance Global LLC (registered in St. Vincent & the Grenadines as a Limited Liability Company with registration number 931 LLC 2021).
- The materials are prepared by the well-known independent analytical agency Claws&Horns, which has established itself as a professional in the area of market analysis.
- On the one hand, the broker should be praised for offering plenty of minor forex pairs, such as USDTRY, USDMXN, and GBPSEK.
On Forex, you have limitless opportunities for financial self-realization
LiteForex incorporates a standard suite of the popular MetaTrader 4 and 5. All the platforms can be used to carry out basic technical analysis and order execution. LiteForex also offers VPS hosting, which can be helpful for automated trading.
On the other hand, its dated and rugged design falls short compared to newer, sleeker platforms. As a trader who prioritizes flexible chart scaling, I find MT5’s charting capability too rigid and less effective. So, in our final thought, we can say that despite the problems the broker has had before, the broker has made a turnaround with their trading conditions, now providing better transparency and security. They also offer more benefits to traders now as compared to ew years before. In addition, always consider rollover or swap rate as a trading cost, since the broker charges a small fee for the position being held longer than a day and is defined by the instrument. 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.
LiteForex offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account. We also noticed the broker’s efforts to offer the best possible conditions and ensure trading safety with good regulations. This technology xcritically is the leading solution that provides extremely fast execution speeds and the most favorable quotes with spreads from 0.0 pips allowing you to benefit from it.
Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers. 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. Its swaps are elevated and not particularly suitable for longer-term trading.
I also concluded that LiteForex is pretty upfront about its trading fees. Furthermore, the costs mentioned on the website match the live quotes on the platform. Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account. Founded in 2008, LiteForex is a forex and CFD broker based in Cyprus, authorized by CySEC.
Another advantage of LiteForex is its robust xcritical and extensive supporting content. LiteForex’s research content gives traders a multifaceted overview of the xcritical state of the market and provides them with actionable trading signals. I concluded that the broker’s research content caters to the needs of day traders and swing traders.
Educational Content
Beginners can choose from multiple guides, books, videos, and more to gain a firm grasp of the ABCs of trading. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative. Traders can access LiteForex’s copy trading environment from the ‘Investing’ section of the website.
They cover instruments across different markets and use prominent indicators (Ichimoku, Bollinger, MACD, etc). Traders can use this type of content to get a sense of the prevailing market sentiment. LiteForex offers robust research content catering to the needs of novices and experienced traders alike. xcritical 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. On the one hand, the broker should be praised for offering plenty of minor forex pairs, such as USDTRY, USDMXN, and GBPSEK.
