LiteForex review, is LiteForex a good broker?
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. Plamen’s favourite trading instruments include FX majors and gold.
- LiteFinance also offers a lightweight web-based browser with a user-friendly interface.
- Users get signals, news alerts, and a range of price analysis features for different trading strategies.
- The smart interface is packed with custom tools to boost advanced trading techniques, including over 50 built-in indicators and graphical objects.
- Any changes to standard trade hours are reliably communicated by the LiteFinance news blog.
Trading Strategies
I consider the charts screen a platform’s most important feature. It facilitates technical analysis by providing an overview of price action behavior. Chart artists use many analytical tools and chart configuration possibilities to examine it from multiple angles. In my experience, the really important aspect of a chart is how easy it is to scale price action up and down. I performed my tests on a Classic trading account using the desktop versions of MetaTrader 5 and the broker’s proprietary platform.
LiteFinance offers an automatic withdrawal feature that enables traders to withdraw funds up to $100 per day within 24 hours and is available on Perfect Money and M-Pesa. The minimum deposit for all accounts is $50 and payments are usually processed on the same day. Clients can also fund their accounts with cryptocurrencies, such as Bitcoin. Traders will conduct all financial transactions from the secure back office of LiteFinance.
Leverage
Since starting in 2008, LiteForex Europe Limited has earned a strong global reputation, with over half a million clients. The company is registered as a Cyprus Investment Firm (CIF) and regulated by the Cyprus Securities and Exchange Commission (CySEC). A variety of indicators like charts and analytical tools help make xcritical decisions. LiteForex works supreme as a trading terminal with exquisite facilities and trading services. Having received many awards, they are globally accepted as a reliable broker.
What Are CFDs?
Note, only the MT4 platform is available to ECN account holders. Also, the brand xcritical reviews runs a ‘Dream Draw’ with a prize fund of $350,000 and a Video Blogger contest with a prize pool of $1,000. The broker also runs trading contests with cash prizes up to $4,000. LiteFinance is an unregulated Forex and CFD broker operational since 2021 out of St. Vincent and the Grenadines, with a subsidiary regulated in Cyprus. It operated out of the Marshall Islands as LiteForex before its relocation. LiteFinance offers a phone number but does not have a dedicated Contact Us or Support section.
DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. If you have experience trading with LiteFinance please share your personal review of the broker and what you think are strong and weak points. Compare the markets and instruments offered by LiteFinance and its competitors. LiteFinance offers two primary live accounts; the ECN account and a Classic account. At the time of writing, LiteFinance does not offer a welcome bonus or any promo codes.
LiteForex also offers VPS hosting, which can be helpful for automated trading. Investors can also join the broker’s copy trading network with the social trading platform, which allows you to synchronise your accounts with professional traders. Starting with the demo account that teaches the trading strategies to beginners to the multiple trader’s tools, it is one long success story. WebTrader is truly one of the greatest dreams a dedicated trader can succeed with for lucrative trading. As an alternative, clients can also fund their accounts using cryptocurrencies. LiteFinance offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
xcritical Price Forecast & Predictions for 2024, 2025–2030 and Beyond
Developed in 2005 and 2010 respectively, these systems have become the foremost platforms for online forex and CFD trading. I like the trading environment at LiteFinance for cryptocurrency traders who seek a copy trading service. LiteFinance, previously known as LiteForex, faces technical issues and experiences a rise in fraud claims. The unexplained move of its headquarters from one unregulated Forex jurisdiction to another raises red flags.
CFD NYSE and CFD NASDAQ cater to shares in the greatest global companies. LiteForex Investments Limited caters globally to 500,000 clients and maintains numerous offices in many countries. All activity is monitored and clients should feel reassured that their funds are held safely. Any changes to standard trade hours are reliably communicated by the LiteFinance news blog.
I caution beginner traders about using a demo account as an educational tool. It can create unrealistic trading expectations, and the absence of trading psychology negates the educational value. LiteFinance (ex LiteForex) was founded in 2005 by Aleksey Smirnov. Today, its brokerage services are used by 500,000 clients worldwide. The broker offers extensive supporting content, multilayered safety mechanisms, and fast but basic customer support.
The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) in EUR/USD with a pip value of $10 for each account. In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation. Liteforex (Europe) Ltd is regulated in Cyprus by CySEC, and LiteFinance Global LLC is unregulated.
Trading View offers advanced charting capabilities and multiple analytical tools for carrying out advanced technical analyses. As a chart artist, I have always valued platforms with detailed and versatile charts, and LiteForex’s platform is one such station. In this review, I xcritical scam 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.