Introduction to Liteforex
Liteforex has been offering online currency trading services since 2005. With various advanced technology setups, attractive trading conditions and low spreads this broker is definitely one of the top choices. LiteForex is the right destination for more than million and a half clients from all over the world. Today, LiteForex has offices in Iran, Indonesia, Vietnam, Nigeria, Nicaragua, India, Kyrgyzstan and Philippines. The EU office operates from Limassol, Cyprus and regulated by CySEC.
The broker is also operated by LiteForex Investments Limited in the Marshall Islands (registration number 63888) and regulated in accordance with Marshall Islands Business Corporation Act. The Company’s address: Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.
The LiteForex Company firmly expands its services and regularly opens new offices. LiteForex currently has representative offices in over 15 countries.The number of partners willing to represent the LiteForex brand is only increasing. LiteForex is represented in 216 countries and thus our clients can get assistance in their native languages wherever in the world.
It’s easy and fast to start Forex trading with LiteForex. The registration process is smooth, and the low initial deposit lets anyone join in. At the time of this review, Liteforex Investments Limited did not provide service to residents of the EEA countries, USA, Israel, and Japan.
LiteForex offers currencies, stocks, commodities, indices and cryptocurrencies. LiteForex opens 300 new accounts everyday and 500,000 clients from all over the world. The website is available in 15 languages.
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The advantages of LiteForex conditions
- Over 14 years in the market
- Reliable reputation
- Easy to register and start trading
- Wide range of trading instruments
- ECN
- Metatrader 4 and MT5 trading platforms
- One click trading
- Social trading
- Islamic accounts swap free
- Various promotions and competitions
- Daily comprehensive market analysis
- Convenient deposit and withdrawal options including Skrill and Neteller
Liteforex Account Types Overview
The LiteForex company has developed a large range of trading accounts for any category of traders.Choose the account type that will comply with your trading preferences and open forex account that will meet your needs.
ECN Account
Advantages of ECN Account
- 2,5%
- $50
- Increased quoting precision
- Market execution of orders with no requotes
- No Stop & Limit levels
- Scalping and news trading styles are allowed
- Unlimited duration of transactions
- Trades are delivered directly to liquidity providers
- No conflict of interests
- Social Trading platform is available
- Leverage 1:500
Classic Account
Real trading account for experienced traders. CLASSIC forex account with a floating spread has been designed for traders who have extensive experience in trade and formed views on the market. It is ideal for those who adhere to a proven strategy in their trading using five-digit quotes and leverage up to 1:500, giving access to large volume transactions.
Advantages of ECN Account
- 1:500
- $50
- 30%
- Increased quoting precision
- Market execution and no requotes
- No Stop & Limit levels
- Wide range of trading platforms mt4/m5
Account side by side comparison
| ECN | CLASSIC | ||
|---|---|---|---|
| Spread | floating, from 0.0 points | floating, from 1.8 points | |
| Commission | From 5$ per lot1 | no | |
| Execution type | MARKET EXECUTION | MARKET EXECUTION | |
| Platform | MT4/MT5 | MT4/MT5 | |
| Leverage | 1:500 - 1:1 | 1:500 - 1:1 | |
| Account base currency | USD, EUR, CHF, RUB, MBT | USD, EUR, CHF, RUB, MBT | |
| Minimum deposit | $50 | $50 | |
| Rate, % per year2 | 2.5% | 0% | |
| Islamic accounts | Yes | Yes | |
| Social trading | Available | Available | |
| Lot Size, $ | 100000 | 100000 | |
| Minimum lot | 0.01 | 0.01 | |
| Maximum number of orders | Unlimited | Unlimited | |
| Margin Call Level | 100 | 100 | |
| Stop Out Level | 20 |
20 |
Islamic Account
Islamic accounts (swap-free)offered by LiteForex do not consider swaps when a position is carried over to the next day and at the same time they possess all the account trading advantages. Islamic accounts represent an easy-to-use financial instrument which lets LiteForex’s clients from all over the world, including Islamic countries, freely manage their funds.
Demo accounts at LiteForex
A Forex demo account is a training account that is perfectly suitable for practising and getting ready for trading with real money. You can use your demo account free of charge to boost your trading skills, refine on your trading strategies or test Experts-Advisers under real market conditions. Money put on a demo account is a virtual investment. Demo accounts can be opened via Personal Profile in less than 1 minute. Master the MetaTrader platforms and acquire trading experience on a demo account from LiteForex with no risk of losing any of your money.
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Liteforex Trading Platforms
LiteForex offers only the most popular trading platforms of the Forex market: MetaTrader4 and MetaTrader5.
MetaTrader 4 is a popular Forex trading and analysis platform, which allows trading currencies, shares, precious metals and CFD on stock indices. In this section, LiteForex clients can download MetaTrader 4 trading platform and its mobile applications for PDA, iPhone®, iPad ™ and Android. Download MetaTrader 4 platform for free here.
MetaTrader 5 is a new version of the popular forex trading platform that possesses increased functionality and an enlarged set of tools. The section provides not only the distribution kit of the MT5 platform for a desktop computer, but also the MT5 mobile application for iPhone®
Mobile Forex apps from LiteForex are provided to customers absolutely free of charge. You can download and install applications with daily analysis, trading signals or strategies on your tablet or smartphone. We provide mobile Forex applications for Android and iOS devices. All applications and their contents are supported in more than 8 languages and are constantly updated.
Liteforex Trading Conditions and Features
Currency
The best Major currency pairs to trade on the Forex market
- Unlimited liquidity of world currencies;
- Trading is available 24 hours 5 days a week;
- All popular currency pairs;
- Opportunity of hedging and diversifying risks;
- Instant execution of orders.
Cryptocurrency
Trade crypto-pairs with Bitcoin, Bitcoin Cash, Dashcoin, Ethereum, Ethereum Classic, LiteCoin, Monero, Ripple and ZCash
- Investment alternative to usual trading instruments
- Reliability and transparency of decentralized cryptocurrencies
- Promising investment and diversification of risks
- No influence on the part of financial institutes
- Rate is determined by financial market participants’ demand
Withdrawal and Deposit Methods
The LiteForex company provides an impressive range of payment methods to top up Forex accounts and withdraw profits. LiteForex’s clients can use a multitude of international e-payment systems such as Skrill, Neteller, Perfect Money, Qiwi, Yandex.dengi, M-pesa Kenya, M-pesa Tanzania, Africa Mobile Money, Alipay, Webmoney, Bitcoin, Ethereum, Litecoin, Monero, bank cards, wire transfers.
Credit/Debit Card: all major credit and debit cards are accepted by the broker. The minimum transaction amount is $10. There are no deposit fees. For withdrawals, the minimum amount is $1.01 and a withdrawal fee of 3.5% is charged. Card deposits are instantly processed.
Bank Wire Transfers: The minimum transaction amount is $100. There are no commissions. It takes 3-7 days for the complete processing of bank wire transfers.
Local Transfer: Local transfers and Cash deposits into the local bank are accepted. Withdrawals are also transferred to the clients’ local bank account. There are no extra charges and all transactions are done in the local currency.
E-Payments: There are no deposit charges and the minimum transaction amount is $10. The withdrawal commission depends on the ePayment provider chosen. The commissions are: Perfect Money; 1.99%, Skrill; 1%, Neteller; 2%, Qiwi; 4% + 1RUB, WebMoney; 5%.
Cryptocurrencies: The accepted cryptocurrencies are Bitcoin, Litecoin, Monero, Ethereum, Bitcoin Cash and Bitcoin Gold. There are no deposit commissions and the minimum deposit is $10. For withdrawals, the commissions are as follows: Bitcoin; 0.5%, Ethereum; 0.9%, Litecoin; 0.9%, Monero; 0.9%, Bitcoin Cash and Bitcoin Gold; 0.9%. The minimum withdrawal amount is $1 except for Bitcoin which is 0.00051000 BTC.
Minimum deposit requirement is $10
Forex Social Trading - сopy trading system
Discover the Forex social world of professional trading by copying trades or become an example to follow!
The automated copy-trading system Soсial Trading will allow you to duplicate the best trades, trade independently, share information and communicate with your traders.
Take advantage of successful traders' experience or share your own success with others through our Social Forex Trading system. Depending on your goals, choose the role that really suits you and achieve your objectives!
Educational Material and Client Support
Online (live) Forex webinars allow you to get the most out of information on Forex trading.
LiteForex’s webinars are online seminars on the theory and practice of the Forex market provided by an active professional trader with over 5 years’ trading experience. Participation in our seminars will allow you to make confident trading decisions, receive clear answers to the most challenging questions online and understand the most important trading notions. The subject always corresponds to your requests and needs. Specifically for you, we provide the latest materials and choose a subject that would interest both beginner and professional traders. The webinars are comprehensive, easy to understand and useful because of basing on objective market processes.
Commissions & Spreads
Spreads of majors are listed below for ECN accounts:
| SYMBOL | TYPICAL SPREAD | SYMBOL | TYPICAL SPREAD |
| CURRENCIES | METALS | ||
| AUDUSD | 0.3 | XAUUSD | 1.1 |
| EURUSD | 0.1 | XAGUSD | 0.2 |
| GBPUSD | 0.6 | XPDUSD | 54.6 |
| NZDUSD | 0.4 | XPTUSD | 13.8 |
| USDCAD | 0.1 | OIL | |
| USDCHF | 0.5 | UKBrent | 3 |
| USDJPY | 0.2 | USCrude | 3 |
| EURCHF | 0.6 | GLOBAL INDICES | |
| EURGBP | 0.5 | IBEX35 | 60 |
| EURJPY | 0.4 | SPX | 0.4 |
| GBPJPY | 0.8 | YM | 2 |
| USDZAR | 46 | NQ | 3 |
| USDMXN | 36 | FTSE | 3.3 |
| EURZAR | 67 | FDAX | 3.1 |
| USDRUB | 144 | CAC | 2.8 |
| EURRUB | 225 | SX5E | 1.6 |
| USDILS | 20 | ASX200 | 4 |
| GBPTRY | 186.5 | HK50 | 25 |
| EURSGD | 0.9 | NI225 | 2280 |
| EURHKD | 18.1 | CFD NYSE | |
| INDICES | #AA | 0.1 | |
| IBEX35 | 60 | #AXP | 0.4 |
| SPX | 0.4 | #BA | 1.6 |
| CAC | 2.8 | #BAC | 0.1 |
| SX5E | 1.6 | #CAT | 0.5 |
| ASX200 | 4 | #WMT | 0.2 |
| HK50 | 25 | #XOM | 0.1 |
| NI225 | 2280 | #BABA | 0.9 |
| Cryptocurrency | #V | 0.2 | |
| BTCUSD | 243.8 | #LMT | 1.9 |
| DSHBTC | 1 | CFD NASDAQ | |
| DSHUSD | 2.4 | #AAPL | 0.5 |
| EDOUSD | 7.8 | #CSCO | 0.1 |
| XRPUSD | 6.9 | #FB | 0.4 |
| ZECBTC | 0.7 | #SBUX | 0.1 |
* All data listed above is taken from the Liteforex.com website. It was correct at time of writing this review and is subject to change by broker at any time.
Customer Support and Education
The customer support is available 5 days a week. The support channels are: Live web chat, email, phone and social Media such as Facebook, Instagram, Twitter, Youtube, Telegram and more. The support desk is multilingual and in different countries.
LiteForex provides the Economic Calendar, VPS ( from $15 per month to $45 depending on server configurations), forex calculators and LiteForex analysis provided in partnership with Claws & Horns. These tools assist the trader in making his trading decisions.
Forex analysis - fresh reviews of market instruments and news
The latest reviews and forecasts for all market instruments and economic news. The materials are developed by professional analysts and are not of a direct recommendatory nature.
The art of analysis from Claws&Horns
LiteForex provides its clients with free high-quality analysis prepared by independent company Claws&Horns.
Experienced experts of Claws&Horns have mastered the art of analysis like no other. All kinds of analysis, latest forecasts, unique reviews, expert opinions and a lot of other analytical materials essential for the success of traders are available for free for LiteForex clients .
Today's Forex economic news
The most important economic and financial news of the international currency market and stock exchanges
Liteforex webinar archive
All previous online Forex webinars are kept in the public domain and are free of charge for all LiteForex clients. After reviewing this material, you will have a better understanding of what is happening in the market, you will find answers to your questions and get all the necessary knowledge to improve the performance of your trading.
Online webinars from Forex professionals will help you get the most useful information on the foreign exchange market trading
Tutorials
Tutorials on forex trading contains general rules, tips and guidelines for a new trader. The first steps in the world of Forex.
Selection of publications for LiteForex’s traders
We have selected the best Forex books that will help you understand trading psychology and money management. They will also help you discover new facets of technical and fundamental market analysis.
This library provides Forex books where famous traders share their advice and expertise, and reveal their trading secrets.
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FAQ
Here are some of the “Frequently Asked Questions” about LiteForex:
What documents does the LiteForex accept for verification?
The documents confirming identity shall be issued by a legal government agency and shall contain a photo of the Client. It can be the first page of internal or international passport or a driving license. The document shall be valid for at least 6 months from the date of completing the application. Each document shall specify validity dates.
What commission is charged for topping up trading account?
Liteforex working hours
What types of accounts are provided by the LiteForex Company?
LiteForex Investments Limited provides CLASSIC and ECN types of trading account. Both types of account are based on market execution.
How to open a demo account?
Click on your name in the Client Profile in the upper line and make sure the demo trading mode is enabled. Then access the "Metatrader" section. Click the "Open account" button and select account parameters from the drop-down lists.
How to top up demo account?
In order to replenish the balance of the demo account created through the Client’s Profile, please click on your name in the top line and make sure that the demo trading mode is enabled. After that go to the section "Trade". Next, click "Deposit" in the lower right corner of the page, enter the amount of the deposit in dollars and click "Deposit."
What leverage is provided by the LiteForex?
The following leverage sizes are available to LiteForex’s clients, depending on their account types:
from 1:1 to 1:500 in CLASSIC accounts;
from 1:1 to 1:1000 in ECN accounts;
What is the min. deposit for LiteForex?
The minimum deposit is $50 for all account types.
Does LiteForex use MetaTrader?
Yes, the MT4 and MT5 platforms are available.