This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. LiteForex has a track record of more than 15 years in the online brokerage industry with offices in jurisdictions worldwide. Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today.
Gold Price Forecast & Predictions: 2024 and Beyond
LiteForex also offers VPS hosting, which can be helpful for automated trading. I performed my tests on a Classic trading account using the desktop versions of MetaTrader 5 and the broker’s proprietary platform. The account was opened with the broker’s Liteforex (Europe) Ltd entity. Some features and services may vary depending on where you reside and which entity you open an account with. Another benefit related to the European Union’s financial markets regulations is the negative balance protection feature that applies to both account types.
My findings indicate that the broker charges average-to-high swaps compared to the industry average. This combination is not particularly suitable for longer-term trading strategies (swing trading and position trading). Broken down by asset class and compared to the industry average, LiteForex charges high spreads on instruments across all asset classes for the Classic account. The raw spreads from 0.0 pips on the ECN account are much lower and generally fall below the industry average.
Forex Mirror Trading
Overall, LiteForex is an excellent proposition for both beginner traders and professionals thanks to its range of account types and the wealth of financial information available to account holders. Private investors focusing primarily on forex pairs while appreciating transparency and competitive pricing will benefit, especially from this broker’s offering. MT5 is arguably best suited for automated trading via its Expert Advisors (EAs) feature. The platform also has an intuitive strategy tester, allowing experienced algo traders to tweak the parameters of their strategies so that they can be used under different market conditions. For low-latency algorithmic trading, clients of LiteForex can take advantage of the broker’s VPS offering, affording execution speeds of below 2 milliseconds.
LiteForex Deposit Methods
Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. LiteFinance features a Beginner section on its blog, where it presents educational content featuring dozens of quality articles. I recommend traders use it as part of their education before opening an account. LiteFinance does not provide any of the necessary third-party add-ons to unlock the full functionality of MT4/MT5 and improve the trading environment.
The broker offers its proprietary platform with versatile charts from Trading View and also incorporates MetaTrader 4&5. xcritical scam Clients of LiteForex can also use its VPS offering for low-latency trading and engage in copy trading. Another advantage of LiteForex is its robust and extensive supporting content.
This is only true for withdrawals, as the broker reimburses its clients for any processing fees incurred when depositing. However, LiteForex’s range of instruments is somewhat limited, with an absence of share CFDs and cryptocurrencies. While the spreads on its Classic account are relatively high, the ECN account type offers more competitive trading fees. The customer onboarding process employed by this brokerage is simple, with users offered the option of signing up for a demo account that is compatible with MT4 and MT5.
- The market is continually evolving, marked by periodic surges and declines in volatility.
- 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.
- Furthermore, the costs mentioned on the website match the live quotes on the platform.
- The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.
Accordingly, the most favorable prices are available when trading FX majors on LiteForex’s ECN account type. Its license from CySEC is easily discoverable on the website, and traders can verify it fairly quickly. I also went over the broker’s legal documents and assessed that everything was in order. Its Client Agreement is exhaustive and written in easy-to-understand language. CTrader is a platform with a user-friendly interface, advanced chart analysis tools, and unique algorithmic trading options. An easy-to-use dedicated trading platform provides a comprehensive analytical toolkit and suits any trader regardless of experience.
The ECN account offers generally more favorable conditions, though traders should mind the commission rate. Coupled with its raw spreads starting from 0.0 pips, this combination on the ECN account is generally better than the industry average. However, the broker charges higher commission rates on instruments from other asset classes. LiteForex offers two retail account types – Classic and ECN – both with a minimum deposit of $50. It facilitates technical analysis by providing an overview of price action behavior.
Brokers operate multiple entities because it allows them to serve clients worldwide. However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection. The BOOM500, BOOM1000, CRASH500, and CRASH1000 indices have been added to LiteFinance’s list of trading instruments. I am using litefinance for long time everything is fine, and it is honor for me that i am working with litefinace.Thanks litefinance for everything. Trade in various assets using built-in analytics and signals to predict price movements.
LiteFinance maintains the xcritical scammers out-of-the-box MT4/MT5 trading platforms, but no introduction exists. LiteForex merely presents them as two buttons and clicking on them redirects to an account opening page. LiteFinance also offers a lightweight web-based browser with a user-friendly interface. It is ideal for manual traders and superior to the MT4/MT5 web-based alternatives.
LiteForex offers robust research content catering to the needs of novices and experienced traders alike. The broker offers market breakdowns developed in-house and also incorporates content from Claws&Horns. 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.
Incorporated from Claws&Horns, the trading signals represent actionable trading opportunities. 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. It is comprised of regular market updates that inform traders of xcritically unfolding trading setups. Each article consists of an economic breakdown and a technical setup supported by a chart.
In my opinion, MT5 is a good option for fast and simple order execution. 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. Generally, only the $10 commission on FX Majors falls below the industry average.
The broker offers extensive supporting content, multilayered safety mechanisms, and fast but basic customer support. Its accounts are quite accessible with a low minimum deposit requirement of only $50, and at the same time, clients can choose from multiple supporting tools. It presents traders with an ideal environment to test EAs and new strategies.