LiteForex Broker Review 2022: Pros & Cons

LiteForex is more popular with traders who already possess fundamental trading skills, such as professional traders, and investors interested in passive investing.

LiteForex Review

LiteForex Investments Limited is a well-known forex and CFD broker. Clients can use a variety of deposit and withdrawal methods to trade on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. This broker review will cover the sign-up process, contacting customer service, bonuses, and leverage, all of which will help you make an informed decision.

LiteForex is a financial and investment company that provides investors with a trading platform for trading forex, metals, and stocks, as well as the ability to mimic deals made by master account holders. Its platform connects worldwide traders to establish a successful community where they may learn from one another and leverage one another’s knowledge to achieve their goals. Since 2005, it has also provided clients with access to Tier 1 liquidity in the currency, commodities, and stock markets. At LiteForex, you may trade major currency pairings and cross rates, oil, precious metals, stock indexes, and blue chips, as well as the widest selection of cryptocurrency pairs.

Read More: Top Forex Brokers for Beginners in 2022

LiteForex is now an online ECN broker with proprietary technical solutions for moving transactions to the interbank and to liquidity providers directly. Social Trading is a system for automatically copying the transactions of other traders, as well as additional benefits for more convenient and efficient trading.

LiteForex Main Features

Regulations
CySEC (Cyprus)
Supported Languages
English, Spanish, Russian, Portuguese, Indonesian, Malaysian
Products
Crypto, Currencies, CFDs, Indices, Stocks
Min Deposit
$50
Max Leverage
1:30 (CySEC)
Trading Desk Type
ECN
Trading platforms
MT4, MT5
Deposit Options
Wire Transfer, Credit Card, Cryptocurrencies, Skrill, Neteller
Withdrawal Options
Wire Transfer, Credit Card, Cryptocurrencies, Skrill, Neteller
Cryptocurrencies
Bitcoin Cash, Ethereum Classic, Bitcoin, Litecoin, Zcash, Ripple, Monero, Dash, Ethereum
Demo Account
Yes
Foundation Year
2008
Headquarters Country
Cyprus

LiteForex Pros

  • In the EU and the UK, there is regulated brokerage.
  • Through local offices, a localized product is available.
  • For novices, local offices offer free on-site instruction.
  • Customer service is responsive and the website is simple to navigate.
  • Client orders and pin spreads are processed in accordance with the A-Book model, STP (straight-through processing), and ECN technology, with quick market execution and low slippage in both directions.
  • Own trading platform for personal accounts, which allows beginner traders to copy transactions, assess market mood, and so on;
  • Several types of affiliate programs, include multi-level and payback programs;
  • Commissions paid are automatically reimbursed when money is replenished and withdrawn.

LiteForex Cons

  • An unregulated jurisdiction provides service to international areas.
  • For crypto trading on the EU/UK brand, the margin requirement is extremely high (50 percent ).
  • In general, there is a distinction in the quality of services provided to EU/UK clients versus international clients.
  • No cent accounts, which are often of interest to novice traders;
  • Additional indicators are not available as a supplement in your personal account’s trading interface. Trading and testing algorithms are not available;
  • The social trading grade provides no information on how risk levels are given to traders.
    Verification is a difficult process.

Read More: How to Choose a Forex Broker on Traders Union and avoid scams?

Demo Account

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. The sign-up process is simple and takes less than a minute.

Assets & Markets

Trading assets available to all account holders include:

  • Currency – FX trading is available 24/5 on major, minor, and exotic pairs
  • Commodities – Trade gold and oil 14/5 with consistent liquidity
  • Global stock indexes – Trade CFDs on major global indices, including the US30 (Dow Jones)
  • Cryptocurrency – Popular crypto pairs, including Bitcoin, provide an alternative to traditional markets

Safety & Security

LiteForex Investments Limited provides a safe and secure platform, with firewalls and isolated servers protecting the site. LiteForex Investments Limited suggests using a VPN to manage trades while users’ devices are turned off. It is not dependent on an internet connection or a power supply and provides some security for online merchants.

Accepted Countries

LiteForex Investments accepts traders from the following countries: Australia, Thailand, Canada, South Africa, Singapore, Hong Kong, India, Norway, the United Arab Emirates, Saudi Arabia, Kuwait, and Qatar.

Traders from the United States of America, Japan, Israel, Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom are not permitted to use LiteForex Investments.

Read More: eToro Australia Review: Everything You Need To Know

Payment Methods

Traders can deposit directly into their LiteForex Investments Limited account via:

  • Credit/debit card (Visa & Mastercard)
  • Bank transfer
  • WebMoney
  • CentrePay
  • Neteller
  • Skrill

Alipay, Yandex, and Dengi are all accepted as deposit methods. 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 offers an automatic withdrawal tool that enables traders to withdraw up to $100 each day using Skrill, Perfect Money, or Neteller within 24 hours. Withdrawal fees vary by supplier.

Conclusion

LiteForex Investments Limited is a reputable broker that offers a variety of services. There is a good selection of FX and CFD assets available for trading, as well as the MT4 and MT5 platforms. The website is simple to navigate, the support function is straightforward, and there are numerous free analysis tools available. The LiteForex Investments Limited brand is largely inclusive and remains personalized despite its international presence.

In response to the question of whether it is a reputable broker? Yes, that would be the response. To compare LiteForex Investments Limited to FXTM, XM, OctaFX, HotForex, or FBS, traders should conduct extensive study; however, this brand has a strong history and is a reputable option.

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