LiteForex Trading Platform Review, Top Features, Set-up, & Benefits

Download MetaTrader 4 trading platform for your smartphone or computer and get access to the Forex market from wherever in the world. A combination of in-house research and third-party analytics by Claws & Horns offers traders comprehensive market coverage and trading ideas. LiteFinance maintains a blog where analysts provide research and trading signals. LiteFinance maintains a wide range of trading instruments, advertising 145+ on its website, offering 225. Over the past twelve months, it made the most notable expansion in cryptocurrencies, where it offers 53 assets, including crypto-to-crypto crosses.

1. The broker’s excellent customer service (which is available day and night most days of the week) adds an extra element of reliability to an already impressive service offering.
2. An updated, technologically advanced service provider, the best trading opportunities are on offer.
3. Deposits and withdrawals are cost-free with LiteForex, though third-party banking fees may apply.
4. As a trader who prioritizes flexible chart scaling, I find MT5’s charting capability too rigid and less effective.
5. Additionally, the broker offers a range of educational guides, which are freely available on the website.
6. The unexplained move of its headquarters from one unregulated Forex jurisdiction to another raises red flags.

LiteForex Trading Platform – Review, Top Features, Set-up Process, Benefits & more

When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative. Traders can access LiteForex’s copy trading environment from the ‘Investing’ section of the website. The performance of all the available trading strategies is presented in the ‘Traders Ranking’ subsection. 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.

Trade in the leading MetaTrader 4 and MetaTrader 5 platforms along with mobile apps catering to both android and iOS systems. This broker provides a reliable and engaging copy trading facility that functions as a social media network. Users can view the trades carried out by top-ranked account holders and imitate their winning strategies as they aim to increase their performance daily. LiteFinance does not advertise its deposit and withdrawal policies, but some traders have reported issues and cancellations. Since rebranding from LiteForex to LiteFinance, transparency dropped, and issues arose. The high trading costs remain, and at its present state, LiteFinance cannot be said to be a good broker.

Also, “World Finance,” a leading financial magazine in Britain, has included LiteForex into its “100 World Finance” list. They contain lots of practical insights, e.g. how to use intraday trading strategies, Fibonacci retracements, etc. Traders can use the built-in economic calendar, which is an essential tool in a trader’s xcritical courses scam arsenal. It informs traders of upcoming market events and releases that have the potential to stir price action, thereby creating viable trading opportunities.

LiteForex Trading Terminal – Top Features

For low-latency algorithmic trading, clients of LiteForex can take advantage of the broker’s VPS offering, affording execution speeds of below 2 milliseconds. I have compiled the table below to help you better understand the difference between the trading fees of LiteForex’s two account types and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large.

Are LiteForex’s Fees Competitive?

As one of the leading online brokers of global renown, LiteForex Online Trading Platform has carved a niche with committed services. While the desktop with a large screen can accommodate more features, the mobile app allows you to trade during travel and vacations. According to personal preferences, the trader can decide in favor of desktop trading or mobile trading. You can access many kinds of charts like bars, lines, and candlesticks. The LiteForex Online Trading Platform WebTrader and the two downloadable platforms are user-friendly. WebTrader enables plenty of customization according to trader requirements.

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. 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. Depositing and withdrawing funds is also straightforward and should pose no difficulties to traders regardless of their experience level. LiteForex users can choose between MetaTrader 4 and MetaTrader 5 as platforms for their trading activities.

This ensures data privacy and software stability while granting users access to mobile and desktop trading 24 hours a day. The broker’s excellent customer service (which is available day and night most days of the week) adds an extra element of reliability to an already impressive xcritical service offering. LiteForex gives you two types of trading platforms namely; MT4 and MT5.

As we have seen above the LiteForex fees seem a bit high, to further clarify the picture let’s compare it with other popular brokers on the market. Despite 16 years as a brokerage, LiteFinance, previously known as LiteForex, appears to undergo unfavorable changes. 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. Customers can withdraw up to $100 per day using any popular payment system such as Neteller, Perfect Money, and Skrill. Automated trading allows you to set rules of entering and leaving the market.