LiteForex Review

Introduction:

Established in 2008, LiteForex (Europe) LTD is a brokerage company with offices in several jurisdictions worldwide. They are registered as Cyprus Investment Firm and regulated by CySEC (Cyprus Securities and Exchange Commission). The broker offers a wide range of account types and easy forex buying and selling with a lost-cost structure and is fully compliant with EU financial regulations. LiteForex (Europe) LTD is known for its affordability, ease of account funding, improved market analysis and investor education. All of it centers around empowering traders to improve their trading skills and giving them financial freedom.

LiteForex (Europe) LTD provides access to a variety of tutorials and how-to guides to make new traders acquainted with the trading environment. LiteForex traders can choose between MT4 and MT5 as trading platforms. Both trading platforms are highly regarded for their reliability and security. Another remarkable feature of LiteForex (Europe) LTD is its excellent customer service which adds an extra element to the already impressive service offering of the broker.

Features of LiteForex (Europe) LTD:

• Access to Detailed Trading Information and Expert Analysis:

  LiteForex (Europe) LTD offers a wealth of information to help traders get a competitive edge over others in global financial markets.

• Simple Onboarding Process:

  It is easy for users to register a new account, fund the same using several payment methods and begin trading with minimal delays.

• Excellent Customer Service:

  The best thing about LiteForex (Europe) LTD is that it offers excellent customer service, available 24*5 via telephone and live chat.

• Reliability & Security:

  LiteForex’s account holders can use MetaTrader 4 and MetaTrader 5 for their trading activities. They both come with a raft of features as well as services and are known for their excellent data security features, quick execution time and best analytical tools.

• Copy Trading Facility:

  LiteForex also provides traders access to a copy trading facility that acts as a social media network. Users can easily view and check out the trades executed by top-ranked account holders and copy their winning strategies to improve their own performance on an everyday basis.

• Negative Balance Protection:

  Another significant benefit of LiteForex is that it offers traders negative balance protection. All the trading accounts (except those belonging to professional and institutional investors) are protected against liquidation to the maximum value of EUR 20,000.

• User Experience:

  LiteForex (Europe) LTD substantially invests in its functionality and navigability, making it an excellent choice for “would-be” traders. The website is user-friendly and provides extensive details on the service offerings and account types available. Additionally, the customer support team’s details are clearly mentioned to ensure smooth communication.
  Depositing and withdrawing funds is also pretty straightforward and poses no difficulty to traders, irrespective of their experience level.
  Another strong point of LiteForex (Europe) LTD is its broader range of educational resources and tools, available in the form of tutorials and summaries of well-known books on investing, trading markets and economics.

Trading Conditions Of LiteForex (Europe) LTD:

• Markets:

  LiteForex focuses on three main markets: forex, commodities and stock indices.

• Spreads and Commission:

  LiteForex’s spreads float from 0 pips with ECN accounts; however, average spreads tend to start from 2.0 pips for major forex pairs (classic accounts). Commissions are also charged per lot for major forex pairs, which is $10 per lot. It can go $20 for forex cross pairs, $30 for minor pairs, and $20 per lot on metals.

• Leverage:

  The leverage is variable and depends on different types of financial instrument.

• Account Types:

  Traders at LiteForex can choose between Classic and ECN accounts. Both of them require a minimum deposit of $50, which is a competitive amount. The major difference between the two is that ECN has tighter spreads and provides access to scalping and social trading, which is not available with the Classic account.
  However, the major drawback is LiteForex does not offer swap-free (Islamic) accounts, cent accounts or PAMM/MAM accounts.

• Regulations:

  As mentioned above, LiteForex (Europe) LTD is registered as a CIF (Cyprus Investment Firm) and is regulated by CySEC (Cyprus Securities and Exchange Commission). It also operates as per the regulations of MiFID (Markets in Financial Instruments Derivative).

• Accepted Countries:

  LiteForex (Europe) LTD only accepts traders from Bulgaria, Belgium, Denmark, Germany, Ireland, Estonia, Greece, France, Spain, Italy, Cyprus, Croatia, Latvia, Luxembourg, Lithuania, Hungary, Netherlands, Malta, Austria, Portugal, Poland, Romania, Slovakia, Slovenia, Finland, Czech Republic, Iceland, Sweden, Liechtenstein, Switzerland, United Arab Emirates, Norway and Marshall Islands.

• Payment Options:

  With LiteForex (Europe) LTD, you can fund your account with bank cards (Mastercard or Visa) as well as electronic wallets such as Skrill and Neteller. Fees can be reimbursed instantly for all local deposit methods. The minimum amount for depositing or withdrawing funds is $1 for e-wallets and $10 for bank cards. The withdrawal time via bank card can take up to 3 to 5 days.
  LiteForex (Europe) LTD’s deposits and withdrawals are managed from within the secure Client Cabinet, containing a live chat in case of any issues.

Pros and Cons Of LiteForex (Europe) LTD:

Pros:

• Low-cost broker
• Access to a wide range of forex pairs at reasonable spreads
• Exceptional customer service
• 24*5 customer support availability
• Extensive educational resources available
• Availability of demo accounts
• Social trading available
• Automatic reimbursement of deposit and withdrawal fees

Cons:

• Availability in a few countries only
• No automated trading
• Non-availability of cent accounts
• No information is available about how a particular risk level is allocated to traders in social trading rating
• No swap-free accounts
• Crypto trading is not available
• The verification procedure is complicated

Conclusion:

Overall, LiteForex (Europe) LTD is a good proposition for both novices as well as professional traders, thanks to exceptional features and account types and wealth of information. Those who want to focus primarily on forex trading and want to enjoy good transparency and pricing can indeed benefit from LiteForex (Europe) LTD.