LiteForex Review 2021

by Mike Throttll last updated on June 29, 2020
Minimum Spread :   From 0.9
Foundation Year :   2005
Min Deposit :   $5
Broker Trusted Point+6
RECOMMENDED BROKER

LiteForex is a trading name of LiteFinanace Global LLC. The company was founded in 2005. The broker provides trading services over 55 CFDs on forex, metals, oil, indices, stocks, and cryptocurrencies. The broker is registered in St. Vincent & the Grenadines as a Limited Liability Company with the registration number 931 LLC 2021. Marshall Island regulates the provider, and the Cyprus Securities and Exchange Commission may also regulate it. The broker offers two types of accounts to their clients, such as ECN account and Classic account. 

The broker provides maximum leverage of 1:500 and negligible spreads to their clients. Traders need to submit a minimum deposit of $50 for opening an account on the broker’s website. LiteForex Customer Support is available 24/5 for customers’ help. Investors can get in touch with them through Phone calls, Live Chat, and email. Collect detailed information regarding spread, commission, leverage, and other details from the article below. 

Regulators Marshall Island and CySEC 
Trading fees class Low
Inactivity fee charged High
Withdrawal fee amount Zero 
Minimum deposit $50
Islamic Account Yes
Time to open an account 1 day
Deposit with bank card Available
Depositing with electronic wallet Available 
Total Assets 55+
Demo account provided Available 
Products offered Forex, Indices, Stocks, Metals, Crypto, & Oil 

LiteForex Review Pros and Cons:

Pros 

  • Regulated broker
  • Copy trade services 
  • MT 4 & MT 5 available
  • Automated trading allowed
  • A wide range of trading tools.

Cons

  • Complicated Withdrawal 
  • Residents of the USA, Israel, Japan, Russia, EEA (European Economic Area) are not allowed.

Is LiteForex Review Scam: Regulations

LiteFinanace Gloabl LLC is providing trading services under the domain name LiteForex. LiteForex (Europe) Limited is registered as a Cyprus Investment Firm (CIF) with the registration number HE230122. The broker is regulated by the CySEC (Cyprus Securities and Exchange Commission) under the license number 093/08. The broker’s firm is situated in St. Vincent & the Grenadines as a Limited Liability Company with registration number 931 LLC 2021. This firm of brokers is regulated by Marshall Island. 

LiteForex Review

LiteForex Review Trading Account Types

The broker offers two types of accounts such as ECN account and Classic account. The minimum deposit is $50 for opening an account on the broker’s platform. Both accounts consist of several features for fulfilling the requirements of p[rofessional as well as beginners. Check features available in both accounts from the bullet points given below. 

ECN Account

  • Minimum deposit: $50
  • No stop & limit level
  • Scalping & News trading allowed
  • Negative Balance protection
  • Spread: floating from 0.0 points 
  • Commission available
  • Access to MT 4 & MT 5
  • Leverage on the basis of assets 
  • Account base currency: USD, EUR, GBP, & PLN
  • Margin Call Level:100%
  • Stop Out Level: 50%
  • Dormant account maintenance fee: 3 EUR per month 

Classic Account

  • Minimum deposit: $50
  • No Stop & Limit Level
  • Negative Balance Protection
  • Spread: floating from 2.0 points
  • Zero Commission
  • Access to MT 4 & MT 5
  • Leverage on the basis of assets 
  • Account base currency: USD, EUR, GBP, & PLN
  • Margin Call Level:100%
  • Stop Out Level: 50%
  • Dormant account maintenance fee: 3 EUR per month 

A Demo Account 

A demo account feature is available on the LiteForex website. Traders can access demo accounts by registering on the broker’s website. On a demo account, you will get infinity virtual funds for practising trading. The broker provides you with a similar environment as a Live trading account for building your experience. On the ABinvesting trading platform, you can access a demo account for an unlimited period through which you can enhance your trading skills. 

LiteForex Review Account Opening

To open an account on the broker’s website, you first need to register on the LiteForex portal. After registration, you can access your trading account. The registration button is available on the homepage of the broker’s website. 

  1. First, click on the registration button available on the homepage of the website. When you click on the button, a new page will appear on your device screen.
  2. Now enter your details such as country code, Phone number, email, password. Now click on the register button. You can also register on the broker’s website via Google and Facebook. 
  3. After this, you need to select any one account from the two options: ECN account and Classic Account.
  4. Now on the next page, the broker will ask you questions about your past trading experience. 
  5. After this, deposit an initial amount of $50 and submit your identity verification documents. 
  6. Now you are ready to enjoy trading with LiteForex brokers.

LiteForex Review Trading Platform

MetaTrader 4 

MetaTrader 4 is one of the most popular trading platforms which enhances your trading experience. This trading account has various inbuilt tools such as technical indicators, nine timeframes, and several analysis tools. This platform supports Windows PC and Mac. This trading platform should be accessible via mobile and tablet. Traders can use the MT 4 trading platform on Android and iOS devices. Investors can download the MT 4 platform from the App Store and Google Play store. 

MetaTrader 5 

MetaTrader 5 platform is an advanced version of the MT 4 trading platform. It consists of all similar features as MetaTrader 4 platform with advanced technologies. This platform is the best choice for professional traders. Traders can access this platform via PC, Mac, mobile and tablet. MT 5 platform supports both Android and iOS software. Traders can download MetaTrader 5 platform from the broker’s website.

LiteForex

LiteForex Review Mobile Application

LiteForex mobile application provides you with the opportunity to trade anytime from anywhere. This application provides you with the freedom to trade from anywhere across the world. This application supports both Android and iOS devices. Traders can download this from the broker’s website. LiteForex mobile application provides you access to the charts analysis and various other features. 

LiteForex Review Trading Instruments

Forex: Here, you get access to the Major and minor currency pairs like AUD/USD, EUR/USD, etc.

Metals: Silver and Gold metal is available for trading. Traders can trade these two precious metals against various currencies.

Oil: Oil Futures Contracts are available for trading such as UKBRENT and USCRUD

Stocks: Top companies’ stocks are available on the broker’s portal, such as Apple, Facebook, etc.

Indices : 11 top indices are available for trading, such as SPX, YM, NQ, and several others.

Cryptocurrency : 16 major cryptocurrencies are available for trading like Bitcoin, Ethereum and various others. 

LiteForex Review Commission & Spreads

The broker offers commission-free service to their Classic Account holders, whereas the broker will charge a commission from the ECN account holders. There are various modes of payment for the deposition and withdrawal process, such as MasterCard, Perfect Money, Bitcoin, QIWI, and multiple others. 

The minimum amount is $50 for opening an account on a broker’s website. The broker provides spreads of 2 pips for major currency pairs, whereas 1 point spread is available on the major indices such as FTSE 100 and others.

LiteForex Review Leverage

The broker provides a maximum leverage of 1:500. The leverage varies as per the financial assets you get selected. Traders must use leverage properly because it leads to high risk. Traders can check instruments wise before trading them. 

LiteForex Review Deposit and Withdrawal

The minimum deposit is $50 for opening an account on the broker’s website. There are various payment modes available through which you can deposit funds in your trading account like Credit/ Debit Card, Bank wire transfer, WebMoney, and other payment modes. The deposit will be processed within the same day. For withdrawal funds, traders need to file withdrawal requests. The withdrawal should be processed within 2 to 3 business days.

LiteForex

LiteForex Review Educational and Research Support

The broker website does not consist of educational material, But they have a wide range of research tools. Traders can take advantage of analysis tools such as analytics, Economic new, Trader’s calculator, Fibonacci calculator, and others. Investors should get access to the economic calendar and economic news. For more information read updated LiteForex Review 2021 from here. 

LiteForex Review Customer Support

The broker’s customer support will always be ready to help their clients 24/5. Investors can contact them through email, phone calls, and live chat. Traders can contact them from Monday to Friday. Traders can also get in touch with them through skype. 

  • Live Chat
  • Email: [email protected] 
  • Phone Calls: +447520644437
  • Skype: liteforex.support

Final Verdict:

LiteForex is a broker that offers its trading services over 55+ tradable assets such as forex, metals, oil, indices, stocks, and cryptocurrencies. The broker is regulated by the CySEC (Cyprus Securities and Exchange Commission) with the license number 093/08. Traders can pick any one account from the ECN account and Classic Account. 

Traders can take advantage of small spreads and high leverage on the LiteForex brokers portal. The Broker’s Customer Support team is available 24/5 for customers’ help. Investors can contact them via email, phone calls, and live chat. You can also consider Brokereo for forex trading. It is one of the leading brokers of the forex market, which offer trading over 350 CFDs. 

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