The broker also offers Islamic accounts for swap-free trading, as mandated under Shariah law. Traders who want to open an Islamic account need to contact LiteForex’s customer support and request the service. Additionally, MetaTrader 5 has an intuitive mobile app, which helps traders stay connected to the global capital markets even on the go.
The risk of financial loss gets reduced through researched trading that uses various trading signals and indicators. By offering numerous options for money deposits and withdrawals, updated technology keeps LiteForex Web Trading Platform ahead of the highly competitive broking industry. As one of the leading online brokers of global renown, LiteForex Online Trading Platform has carved a niche with committed services. Those who like a break from conventional markets may seek the common cryptocurrency pairs to trade-in. 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.
LiteForex Europe Verdict
Deposits and withdrawals are cost-free with LiteForex, though third-party banking fees may apply. 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.
- The MT4 platform is the go-to choice for many individuals, whether they are new to trading or seasoned professionals.
- When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage.
- Overall, tighter spreads and cheaper commissions are offered at other brokers, such as XM.
- Mobile apps also work through the web but downloads of the app will be necessary to trade.
- Mobile trading is also available through the MT4 and MT5 platforms.
A variety of payment systems for fast depositing and withdrawal of funds
Most traders will deal with the primary unregulated brokerage from St. Vincent and the Grenadines. A CySEC licensed subsidiary exists for the EEA, the UAE, and the Marshall Islands traders. LiteFinance does not advertise its deposit and withdrawal policies, but some traders have reported issues and cancellations. The minimum deposit to open an account with LiteFinance is $50. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.
Account Types and Terms
For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars. Contracts for difference (CFDs) are derivatives used to speculate on the underlying asset’s price without physical delivery. LiteFinance Global LLC does not provide services to residents of the EEA countries, USA, Israel, Russia, and some other countries.
LiteForex functions via MetaTrader 4, and MetaTrader 5, the cherished online forex and CFD trading platforms. There is a good range of tradeable forex and CFD assets, plus the MT4 and MT5 platforms. For professional traders and investors, LiteFinance recommends the real-trading ECN (Electronic Communications Network) account. The account offers an interest rate of 2.5% on surplus funds, an unlimited number of transactions and trades are delivered directly to liquidity providers.
We are certified stock broker review & comparison website working with multiple partners. Forex or the trade-in pairs of currencies is a very profitable LITEFOREX Trading Terminal activity globally. Live trading in the LiteForex Web Trading Platform requires charges to be paid according to the type of account. The Economic Calendar brings you up to date with the most important macroeconomic news relating to the forex market. Spreads being usually xcritical scammers low, greater profits come to the traders.
Specific server hours can also be provided by the customer support team, or by clicking on the instrument details within the client portal. Both accounts require a minimum deposit of $50, which is lower than other competitors such as FXTM and OctaFX. The minimum trade size is 0.01 lots, the xcritical reviews margin call is 100%, and the stop out level is 50%. EKYC is required for security purposes since trading involves extensive money, and a lot of cybercrime happens these days. Not only can they be trusted through a regulatory mechanism, but the trading platforms they provide like MT4 and MT5 are among the most advanced.
You can sign up for an account from the website home page, which will take you through the verification process. You will then receive your sign-in credentials so you can start trading. LiteForex Europe Limited is also a member of the Investor Compensation Fund, which protects client funds up to 20,000 EUR.
The broker’s account offering is simple and comes with additional features such as a social trading platform and a forex analysis portal. 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 Europe is a trusted broker offering social trading, ECN spreads and fast withdrawals. The $50 minimum deposit is also reasonable and the demo account and trading tools make the broker a good choice for beginners.
When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.
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. MetaTrader 5 is the latest version of the world’s most popular trading platform with a wider set of features. Learn the basics and practice on a demo account with virtual money. Trade in various assets using built-in analytics and signals to predict price movements.