LiteForex also does not charge a handling fee for withdrawals, but external fees may apply. A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. Generally, only the $10 commission on FX Majors falls below the industry average.

In addition, the app was updated in 2022 to provide a more stable and reliable trading experience. Market breakdowns developed in-house by LiteForex, and available from the website with free access to everybody. The market reviews are detailed and multifaceted containing aspects of economic analysis, fundamental analysis, and technical analysis. I appreciated that each article outlines emerging trading setups on multiple instruments.

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. In my opinion, MT5 is a good option for fast and simple order execution. On the other hand, its dated and rugged design falls short compared to newer, sleeker platforms. As a trader who prioritizes flexible chart scaling, I find MT5’s charting capability too rigid and less effective. The brokerage operating from St. Vincent and the Grenadines remains unregulated.

LiteForex offers multilingual support available 24/5 via live chat, email, and phone. Agents respond fairly quickly to queries and have a basic understanding of LiteForex’s services. In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and the transparency of information provided. LiteFinance does not advertise its deposit and withdrawal policies, but some traders have reported issues and cancellations. Online registration merely requires an e-mail address or phone number and a password.

However, LiteForex’s range of instruments is somewhat limited, with an absence of xcritical share CFDs and cryptocurrencies. While the spreads on its Classic account are relatively high, the ECN account type offers more competitive trading fees. This broker has invested substantially in the functionality and navigability, which makes an excellent first impression on would-be traders. The LiteForex site features extensive information about the account types and assets available to buy and sell using its platform. Customer service contact information is prominently displayed for smooth communication with the support team.

What platforms does LiteForex offer?

It provides a risk score, all-time percentage-based profitability, how many traders follow the strategy, and the assets under management, as LiteFinance refers to the followed capital of each signal provider. LiteFinance pays strategy providers, adding an attractive revenue stream for successful traders. The materials are prepared by the well-known independent xcritical cheating analytical agency Claws&Horns, which has established itself as a professional in the area of market analysis. Open an account with LiteForex and gain access to quality analysis for free. No, LiteForex is not a scam, the broker is highly regulated and authorized by a top-tier regulatory body ensuring trading safety. We marked that the broker took all the necessary steps to improve the trading experience and provide transparent conditions after traders’ complaints.

What Can I Trade

The sign-up process is straightforward and an account can be opened in under a minute. Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis.

Start investing right now with LiteFinance

1. I always recommend that traders check them before evaluating the total trading costs.
2. The LiteFinance brand is largely inclusive and despite its international presence, remains tailored to individual markets.
3. Clients of LiteForex can also use its VPS offering for low-latency trading and engage in copy trading.
4. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database.
5. This obscures price action behavior and makes it more difficult to conduct probing technical analysis.
6. My findings indicate that the broker charges average-to-high swaps compared to the industry average.

In addition to regular contests, LiteFinance periodically holds regional contests for its clients from specific countries. Prizes in such contests are usually substantial and impressive, often including brand new cars, motorbikes, expensive laptops, and more. The presentation of these prizes often takes place at gala dinners for traders, adding an element of excitement and prestige to participating in these contests. Furthermore, the platforms are enhanced with automated trading and social trading capabilities with no restrictions on strategies, also additional complex order types. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. 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.

The Classic account uses a spread-based system and the ECN account, a commission-based system. Note, LiteForex (Europe) Ltd operates as a separate broker offering trading services to clients from Europe only. I appreciated that the materials are supported with tests to help the reader solidify what has been learned. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage.

Unique Features

This company is a registered broker operating from Cyprus, an EU member state located in Southern Europe. As such, all trading and client activity is regulated by the Cyprus Securities and Exchange Commission. As noted above, this jurisdiction offers investor compensation up to EUR 20,000 on non-professional trading accounts in the event of brokerage liquidation. Yes, LiteForex is a registered broker in Cyprus regulated by the local financial regulator Cyprus Securities and Exchange Commission (CySEC).

You accept full responsibilities for your actions, trades, profit or loss, and agree to hold The Forex Geek and any authorized distributors of this information harmless in any and all ways. Compare LiteFinance with the top 3 similar brokers that accept traders from your location. Trading platforms are open and usable 24/7, however certain markets only permit trading between specified hours. This is something to consider when trading stocks at the weekend, as it is likely margins will be lower and profitability reduced.

LiteFinance recommends a VPS to manage trades whilst users’ gadgets are switched off. It is not reliant on an internet connection or power supply and offers a degree of security to web traders. The minimum deposit for all accounts is $50 and payments are usually processed on the same day. Clients can also fund their accounts with cryptocurrencies, such as Bitcoin.

For low-latency algorithmic trading, clients of LiteForex can take advantage of the broker’s VPS offering, affording execution speeds of below 2 milliseconds. DailyForex.com adheres to strict xcriticals to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about.