LiteFinance, formerly known as LiteForex, is a leading online ECN (Electronic Communication Network) broker that has been serving traders since 2005. With a strong reputation and a commitment to innovation, LiteFinance offers access to Tier 1 liquidity in various financial markets, including currencies, commodities, stocks, and cryptocurrencies. LiteForex Europe is a reputable forex broker with a good selection of MetaTrader platforms and mobile apps. Clients benefit from advanced analysis, copytrade features and straightforward fees. Here we’ll review LiteForex Europe’s 2024 trading services in detail, including regulation, minimum deposits, account types, and spreads.

Account Types

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. Also, note that no account type is given in terms of being able to select one at registration, but the account is a live account. Remember that when you head to the LiteForex website, you will be redirected to the LiteFinance website, depending on your region.

Trading Account Benefits

Like most international brokers, LiteFinance does not accept traders from the US. 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 will find it inadequate for proper cross-asset diversification. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based LiteFinance ECN account.

Spreads & Commission

When visiting their website, support for new traders is apparent with 24-hour live support, Economic News and a wide-ranging choice of trading accounts available. On top of this, today’s style of trading, more than accuracy, requires mobile trading. LiteForex through their platforms, products and services makes this possible with as convenience and efficiency as possible.

LiteForex Review Conclusion: Reputable Broker with Easy-to-use Platform

1. The platform boasts dozens more technical indicators than its predecessor, 21 timeframes, and a full set of order types.
2. It is, in fact, a catalog of published books that LiteForex recommends its traders go out and purchase.
3. These include electronic payment systems, bank transfers, credit card transfers, and cryptocurrencies, ensuring flexibility and convenience for traders worldwide.
4. It should be noted that LiteForex applies a slightly different cost structure to its two account types.

Fees are reimbursed for all local deposit methods and are processed instantly. The minimum amount for deposit or withdrawal is $1 for e-wallets and $10 for cards. Available in 22 languages, the MT4 and MT5 mobile apps are suitable for iOS and Android (APK) smartphone and tablet users. The apps come with the same features as their desktop counterparts and allow for full-fledged technical analysis with custom charting tools and trade execution capabilities. Overall, tighter spreads and cheaper commissions are offered at other brokers, such as XM. LiteForex’s app stands out for its simplicity, ideal for newcomers, despite the slower chart loading times we’ve observed.

Traders can choose between the Classic or ECN account at LiteForex Europe. The main difference between the two accounts is that tighter spreads come with the ECN option, plus scalping capabilities and access to the social trading platform. 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. The LiteForex copy trading system is available to all clients and allows users to replicate positions and strategies in their own accounts. Simply choose a trader using the broker’s rating system, make a deposit and decide on an investment term.

LiteFinance organizes exciting Forex contests with real cash prizes for both experienced and novice traders. These contests are accessible via demo accounts or real trading accounts, and they offer a chance to win cash prizes that can be used for further trading or withdrawals. The contests are designed to accommodate traders at all levels of expertise. LiteForex Europe is a trusted broker offering social trading, ECN spreads and fast withdrawals. The $50 minimum deposit is also reasonable and the demo account and trading tools make the broker a good choice for beginners.

The platform boasts dozens more technical indicators than its predecessor, 21 timeframes, and a full set of order types. In addition, traders can take advantage of the economic calendar and depth of liquidity tool. Most traders will deal with the primary unregulated https://xcritical.pro/ brokerage from St. Vincent and the Grenadines. A CySEC licensed subsidiary exists for the EEA, the UAE, and the Marshall Islands traders. LiteFinance does not advertise its deposit and withdrawal policies, but some traders have reported issues and cancellations.

The site may contain ads and promotional content, for which PipPenguin could receive third-party compensation. However, this does not imply endorsement or recommendation of any third party’s services, and we are not responsible for your use of any external site or service. PipPenguin and its staff, executives, and affiliates disclaim liability for any loss or damage from using the site or its information. LiteForex and its entities (LiteFinance) have been in operation since 2005. There is not enough information in terms of reviews to conclude whether or not clients are happy with the services and features this broker offers.

LiteForexis a very specialized online trading brokerage as they primarily facilitate thetrading of forex with a wide selection of currency pairs. LiteForex is a financial and investment company that provides investors with a trading platform for trading forex, metals, and stocks, as well as the ability to mimic deals made by master account holders. Its platform connects worldwide traders to establish a successful community where they may learn from one another and leverage one another’s knowledge to achieve their goals. Since 2005, it has also provided clients with access to Tier 1 liquidity in the currency, commodities, and stock markets. At LiteForex, you may trade major currency pairings and cross rates, oil, precious metals, stock indexes, and blue chips, as well as the widest selection of cryptocurrency pairs.

Customer service contact information is prominently displayed for smooth communication with the support team. This company is a registered broker operating from Cyprus, an EU member state located in Southern Europe. As such, all trading and client activity is regulated by the Cyprus Securities and Exchange Commission. As noted above, this jurisdiction offers investor compensation up to EUR 20,000 on non-professional trading accounts in the event of brokerage liquidation. LiteForex users can choose between MetaTrader 4 and MetaTrader 5 as platforms for their trading activities.

LiteForex does break up stock companies by the exchange they are traded on, and this can be confusing if you are still new to trading. Remember, brokers will sometimes operate in other regions under different entities, and financial authorities in those regions will regulate them. In the case of the website liteforex.eu, European residents will use that site. Residents outside of Europe, like Malaysia and South Africa, will be directed to the entity and site under LiteFinance Global LLC. There are a couple of calculators, mainly an order calculator and a Fibonacci calculator that can help you calculate trade sizes and Fibonacci to help with your trading. There is then some additional forex news and an exchange rate page where you can view live exchange rates.

In addition to these regulations, the broker has a number of security measures in place to protect client funds. LiteForex is a part of the investor compensation fund and all client funds are kept in segregated xcritical official site bank accounts, preventing the broker from using client money for their own purposes. Furthermore, to prevent a trader from losing more than their account balance, the broker offers negative balance protection.

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. LiteFinance Global LLC does not provide services to residents of the EEA countries, USA, Israel, Russia, and some other countries. LiteForex aims to process your withdrawal request within 24 hours except over bank holidays and the weekend where the times will be extended. It is also worth mentioning that different instruments have different natural spreads, so on the ECN account, AUDUSD will start at 0.5 pips while USDCHF will start at 1.2 pips. Since its establishment in 2005, LiteFinance has been a beacon of reliability in the Forex trading landscape, boasting an impeccable reputation. This reverence isn’t mere happenstance but stems from a plethora of differentiators that elevate LiteFinance above its contemporaries.

This industry-standard software comes with a raft of features and benefits and is recognized for its data security features, analytics tools, and quick execution times. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. The only form of trading resources is their blog which is kept up-to-date but is overshadowed by the fact that all other resources are either empty, lacking information, or have irrelevant information.