Leverage: 1:30 | 1:500
Regulation: CySEC, FSA
Min. Deposit: $50
Platforms: MT4, MT5
Found in: 2008
Leverage: 1:30 | 1:500
Regulation: CySEC, FSA
Min. Deposit: $50
Platforms: MT4, MT5
Found in: 2008
LiteForex is a Forex and CFD broker operating since 2008 that provides both Social trading and ECN trading environments through leading-edge technologies based on MT4 and MT5 platforms while maintaining a low-cost structure. This technology currently is the leading solution that provides extremely fast execution speeds and the most favorable quotes with spreads from 0.0 pips allowing you to benefit from it.
LiteForex established global expansion through its offices in Cyprus and an international one based in St. Vincent and the Grenadines and is fully compliant with financial regulations.
Overall, LiteForex has great trading conditions with various trading instruments, useful research, and popular platforms. Its decade-long operation has given LiteForex a great step in having the right experience in the market.
We find LiteForex a good broker with a long history of operation providing good trading technology and an ECN environment backed up with sophisticated technology with low deposit requirements and social trading. Spreads offered by LiteForex are tight and good for the forex industry. We also marked that the broker provides low-cost fees also extensive trader education and financial information resources.
For the negative points, spreads are high for stock trading, international trading is done through an offshore entity in St. Vincent and the Grenadines and there are negative experiences from some traders. The market range overall is quite narrow and limited to only FX and CFDs; there is no crypto trading at all.
|Long history of operation||High trading Spread|
|Established operation through Cyprus entity||International trading done through an offshore entity in Marshall Islands|
|Cross border licenses||Negative experience from some traders|
|Good trading technology and ECN environment||Trading conditions vary according to entity regulation|
|Low Deposit Requirement|
|Social Trading environment|
|🗺️ Regulation||CySEC, FSA|
|🖥 Platforms||MT4, MT5|
|📉 Instruments||Forex, Metals, Oil, and Global Stock Indices|
|💰 EUR/USD Spread||2.2 pips|
|🎮 Demo Account||Available|
|💳 Minimum deposit||$50|
|💰 Base currencies||USD, EUR, GBP, PLN|
|📚 Education||Trading tools and Analysis|
|☎ Customer Support||24/5|
Overall, our experts find LiteForex a reliable broker with good regulation and safe trading conditions suitable for both beginners and experienced traders. One of the best advantages it has is its lowest spreads starting at 0.0 pips through industry-leading MT4 and MT5. The only disadvantage is the negative experience with some traders who complained about LiteForex being non-transparent in terms of conditions
|Advantage||Low Spreads||Trading Conditions||Cryptocurrency|
However, we couldn’t neglect the broker’s negative sides. The broker has quite a narrow market range limited to Forex and CFDs and it doesn’t offer cryptocurrency trading. Also, conditions for international traders vary from the ones of the EU. Although LiteForex provides the lowest trading spreads with no commission and is generally considered good, we recommend you have a look at some alternative brokers:
Since LiteForex strives to improve traders’ experience by providing transparent conditions attractive to both beginners and experts with the lowest spreads and fees, it has been recognized multiple times with good reviews and numerous awards. We also noticed the broker’s efforts to offer the best possible conditions and ensure trading safety with good regulations.
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.
Yes, LiteForex is a registered broker in Cyprus regulated by the local financial regulator Cyprus Securities and Exchange Commission (CySEC). Based on our research, through its regulatory compliance, the broker offers negative balance protection as well as a compensation scheme of up to €20,000 in case of traders’ insolvency.
See our conclusion on LiteForex Reliability:
|LiteForex Strong Points||LiteForex Weak Points|
|Regulated by Cyprus CySEC||Not listed on Stock Exchange|
|Negative balance protection for European clients||Runs an offshore entity|
Obviously, the regulatory status is the most important measure you should always check, as in simple words it means a client is treated fairly according to international laws and requirements while authorities stand behind traders and protect claims or concerns towards the operation.
Therefore, trading with LiteForex Cyprus entity you can refer to CySEC in case of any violence, while the regulator himself constantly checks on the operation and environment the broker provides. Also, traders’ funds are segregated from company funds, and the application of the standard covers investment protection.
Being a European broker, LiteForex is also compliant with ESMA standards of lowered leverage while international traders actually still offered a quite high leverage level up to 1:500 on Forex instruments.
So before you sign in we recommend you verify conditions and understand how trading works, as leverage is a two-sided ttool that may maximize your gains and losses likewise. Besides, always make sure to learn how to use it and what the smartest way for a particular instrument is.
We found out that LiteForex offers two account types with STP and ECN execution models accordingly with Standard Account where all costs are built into a spread and an ECN account with raw spread and commission charge as a trading cost.
|Fast Account Opening, fully Digital||Conditions are different according to entity|
|2 Account types ECN and Standard|
|Low Minimum deposit|
|Free demo account|
The account opening process is digital and easy to follow where you will be guided by the steps. Also be sure it is normal to upload your ID and residence registration, which happened during the stage of your identity verification necessary due to regulations.
Our experts found LiteForex’s range of products includes trading popular Forex and CFD Metals, Oil, as well as a range of Global Stock Indices.
Based on our research, LiteForex gives its clients access to 56 currency pairs, as well as 6 valuable metals, 16 cryptocurrencies, 37 CFDs, and 11 Global stock indexes.
Depending on the LiteForex account type you select you will get specified fee conditions either based on spread only starting at 2 points or pay off commission per lot and get interbank spread from 0 pip.
|Fees||LiteForex Fees||FP markets Fees||XM Fees|
Our experts checked spreads and found out that for the Standard account the broker offers a floating spread averaging 2.2 for EUR USD pair and the ECN account proposes only 0.1 for the same pair plus 10$ commission.
Even though, the standard account spread might be slightly high compared to other industry proposals yet always be sure to see all the trading offerings so even a relatively high spread might be still a good deal.
|Asset/ Pair||LiteForex Spread||FP markets Spread||XM Spread|
|EUR USD Spread||2.2 pips||0.7 pips||1.6 pips|
|Crude Oil WTI Spread||3 pips||3 pips||5 pips|
|Gold Spread||11.0||16 cents||35|
In addition, always consider rollover or swap rate as a trading cost, since the broker charges a small fee for the position being held longer than a day and is defined by the instrument.
Our research showed that the broker offers a wide range of funding methods, while some of them include fees others are free of charge. Also, money transfers to or from the account depending on your residency and its applicable policies, in addition to entity rules of LiteForex that apply.
Here are some good and negative points for LiteForex funding methods found:
|LiteForex Advantages||LiteForex Disadvantages|
|Low Minimum deposit – 50$||Fees might be applicable due to jurisdiction laws|
|Wide range of deposit options and base currencies supported|
|Withdrawals are 0$|
You may choose between the most common methods or options available in your region or also may consult customer support for advice.
As for the fund transferring fees, LiteForex does not charge transfer fees for deposits yet various jurisdictions and payment providers may add on some fees, so be sure to verify this info as well.
LiteForex Standard account minimum is 50$ at the start, and the ECN account set is also 100$ and it is a great opportunity since the requirement is quite low. Yet, be sure to verify conditions and margin requirements for the instrument you wish to trade, also better check all the margins via Demo account at first before you sign in.
LiteForex minimum deposit vs other brokers
|LiteForex||Most Other Brokers|
The withdrawal fees are ranged also from one option to another, while some LiteForex withdrawal options add no fees and others will add on a small mark up.
To withdraw fonds from your trading account, the following steps should be taken:
Our experts found out that the broker’s platform offerings include the full suite of MT4 and MT5 platforms. The choice of trading platforms between MT4 and MT5 is not a surprise as being an industry popular and recognized technology it is indeed one of the best choices for a various size or strategy traders.
Trading Platform Comparison to Other Brokers:
|Platforms||LiteForex Platofrms||Pepperstone Platforms||Fortrade Platforms|
Both MT4 and its newer version MT5 platforms do not require a big introduction, as platforms are known and popular and also available in various versions including Web Trading which requires no installation and is easily accessible.
Yet, for comprehensive analysis and day trading, you would prefer a desktop platform, where LiteForex MT suits any device either PC or MAC.
Furthermore, the platforms are enhanced with automated trading and social trading capabilities with no restrictions on strategies, also additional complex order types.
Another point to admit is the great analysis tools that the platforms are enhanced with, which include algorithmic rules, indicators, Autochartist, and social trading functions also with Analytical materials from Claws&Horns.
Mobile trading platforms for both iOS and Android with alerts, push notifications and full control over your trading account are also included in the package.
Another good point we found in its proposal is customer support available through various methods including Online Live Chat, Phone, emails, etc.
In addition, there are established centers in various regions, so Europe and international are covered, however, customer service is available on working days only 24/5.
See our find and Ranking on Customer Service Quality:
|Live Chat||No 24/7 customer service|
|Support of international Phone lines and range of languages|
Our experts checked the educational proposal of LiteForex and found that the broker supports personal strives and provides learning materials, analysis, and guides. This is done through the educational section on their website presenting four sections that help to become a better trader that diverse to a different levels of traders. It offers a wide range of forex glossaries, books, tutorials, and dofferent strategy testers.
Also, LiteForex provides great research tools with comprehensive analysis suitable for beginning traders and also supports everyday trading, while features including market outlooks, news feeds, trading ideas, and many more.
Overall, LiteForex has a quite long history of operation and balanced trading conditions suitable for various trading styles, account sizes, and levels of experience. We should admit good analysis tools and technology solutions LiteForex provides, also costs are rather good compared to other industry competitors. We also marked a good choice of trading platforms and good technology. Overall, our experience with LiteForex remained rather positive throughout the test and we didn’t face any problems.
Even though, there were numerous claims and complaints from the global traders presenting an impressive collection of issues that were faced during the trading experience they had. Of course, some of them might not be as they seem, we would anyway recommend trading with the Cyprus entity that gives an extra layer of protection, and of course, make your own research and LiteForex Review before you sign in.
Based on Our findings and Financial Expert Opinion LiteForex is Good for:
So, in our final thought, we can say that despite the problems the broker has had before, the broker has made a turnaround with their trading conditions, now providing better transparency and security. They also offer more benefits to traders now as compared to ew years before.
No news available.