LiteForex offers 31 educational lessons available from the client area. I appreciated that the materials are supported with tests to help the reader solidify what has been learned. The agent quickly answered the first and simplest question but appeared to struggle with more complex inquiries. Thus, I concluded that LiteForex’s customer support is good but could be improved. In my opinion, MT5 is a good option for fast and simple order execution. On the other hand, its dated and rugged design xcritical official site falls short compared to newer, sleeker platforms.
What kind of trading platforms does the LiteForex Company provide?
Traders can use the training account free of charge to explore different strategies under real market conditions. There’s no risk of losing any money, as all funds in the demo account are virtual and uncapped. Registration for a demo account takes less than 1 minute via the Personal Profile and demo contests are also available. I know well about this broker because i’ve trade there more than 8 years more. DO you remember when this liteforex broker having trouble its server and all trader loss their money, perhaps its happen in 2007, i don’t remember exactly. Liteforex VERY VERY responsible and PAY BACK all money that loss due to the server error.
It could explain its corporate headquarters move and expansion into less-regulated cryptocurrency activities. Regrettably, none had a positive impact, making LiteFinance a less transparent, secure, and trustworthy brokerage. At xcritical scam FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. LiteForex provides layered educational content that is well-structured and easy to understand. Beginners can choose from multiple guides, books, videos, and more to gain a firm grasp of the ABCs of trading.
Comparing LiteForex fees with other brokers
As for the fund transferring fees, LiteForex does not charge transfer fees for deposits yet various jurisdictions and payment providers may add on some fees, so be sure to verify this info as well. The account opening process is digital and easy to follow where you will be guided by the steps. Also be sure it is normal to upload your ID and residence registration, which happened during the stage of your identity verification necessary due to regulations.
Understanding Label Printers and Their Various Types
The market range overall is quite narrow and limited to only FX and CFDs; there is no crypto trading at all. 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. Since rebranding, LiteFinance lacks transparency across its core trading environment. Until this broker fixes its issues and returns to the same standards established over 15 years as LiteForex, I advise extreme caution.
All accounts require a minimum deposit of $50, and payments are often completed the same day. Additionally, customers can fund their accounts using cryptocurrencies such as Bitcoin. LiteForex Investments Limited does provide a demo account, which is an excellent opportunity to evaluate the broker and fine-tune your trading strategy risk-free. 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.
- Coupled with its raw spreads starting from 0.0 pips, this combination on the ECN account is generally better than the industry average.
- Based on our research, LiteForex gives its clients access to 56 currency pairs, as well as 6 valuable metals, 16 cryptocurrencies, 37 CFDs, and 11 Global stock indexes.
- We offer an iOS and Android trading platform for alerts, push notifications, and full control over your account.
- Web users have the same access to real-time quotes, charting tools, and trading history directly from their browser.
- These apps feature analytical support for precious metals, oil, and a wide range of currency pairs.
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In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and the transparency of information provided. Liteforex (Europe) Ltd is regulated in Cyprus by CySEC, and LiteFinance Global LLC is unregulated. I discovered that the European entity of the broker adheres to all essential safety requirements, such as ensuring negative balance protection and a compensation scheme.