LiteForex is a broker operating since 2008 that provides both Social trading and ECN trading environments through a popular, industry recognized technology based on MT4 and MT5 platforms.
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 Marshall Islands.
Even though being a regulated broker, earlier LiteForex had some complaints and issues with the traders that claimed non-transparent conditions LiteForex provides that is why there were some concerns about LiteForex trustworthiness.
Yet, now we see that broker clears its record as more brokers signing for its service also regulatory overseeing from the European CySEC and ESMA regulations giving extra layers of protection, yet we recommend to do your own research on LiteForex Review as well and see whether it is a suitable broker for your need.
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
10 Points Summary
Forex, Metals, Oil, and Global Stock Indices
💰 EUR/USD Spread
🎮 Demo Account
💳 Minimum deposit
💰 Base currencies
USD, EUR, GBP, PLN
Trading tools and Analysis
☎ Customer Support
Is LiteForex safe or a scam?
LiteForex entity in based mainly in Cyprus while also regulated and set according to CySEC regulatory obligations and compliant to MiFID European directive.
Regulated by Cyprus CySEC
Not listed on Stock Exchange
Negative balance protection for European clients
International accounts are under Marshall Islands entity
How are you protected on LiteForex?
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 the international laws and requirements while authorities standing behind traders and protecting 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 checking on the operation and environment broker provides. Also, traders’ funds are segregated from the company funds, and application of the standard covers under investment protection.
However, different authorities apply adjusted regulation according to its legislation and particular laws, as a result may diverge from the entity or regulator or another.
Likewise, LiteForex international is based in offshore Marshall Islands which is a rather non-regulated entity, since its requirements are quite low and do not give sharp protection towards clients. So always make sure to learn better under which entity you trade and what protection conditions applicable to you, but we would definitely better to open an account under European ESMA regulations.
Being a European broker, LiteForex 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.
International clients allowed maximum leverage 1:500
European traders can use a maximum of 1:30
So before you sign in make sure you verify conditions and understand how trading works, as leverage is a tool of two sides 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.
Going towards the trading conditions in our LiteForex review itself, first, you choose the applicable type of account suitable for your trading needs and then proceed with the following registration.
Fast Account Opening, fully Digital
Conditions are different according to entity
2 Account types ECN and Standard
Low Minimum deposit
Free demo account
LiteForex offers two account types with STP and ECN execution models accordingly with Standard Account where all costs built into a spread and ECN account with raw spread and commission charge as a trading cost.
How to open your 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 is happened on the stage of your identity verification necessary due to regulations.
There is a range of products that you are able to choose from including popular Forex, Metals, Oil, and Global Stock Indicestraded like CFDs.
Turgot the 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.
Flexible fee conditions defined by the account type
Standard Forex spread is high compared to other brokers
Availability to trade either with spread only or interbank variable spread plus commission
Our find on Forex fees
So if you select Standard account you will find floating spread averaged 2.2 for EUR USD pair and the ECN account proposes only 0.1 for the same pair plus 10$ commission.
Even though, standard account spread might be slightly high compared to other industry proposals yet always be sure to see all the trading offering so even a relatively high spread might be still a good deal.
For instance, see below a comparison of the most traded instruments and offered spread on the, as well you can compare fees with another popular broker for good understanding alike IC Markets.
Comparison between LiteForex fees and similar brokers
FP markets Fees
Crude Oil WTI
In addition, always consider rollover or swap rate as a trading cost, since the broker charges small fee for the position being held longer than a day and is defined by the instrument.
Deposit and Withdrawal Methods
There are a vast of payment methods that allow you to proceed with account funding, while some of them including fees and another are free of charge. Also, money transfers to or from the account also depending on your residency and its applicable policies, in addition to entity rules of LiteForex that apply.
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 at your region or also may consult customer support for advice.
Bank wire transfer,
E-wallets including Neteller and Skrill
Credit Cards or Debit cards
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.
The Standard account requires only 50$ as a start, while ECN account set 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 Dem account at first before you sign in.
The withdrawal fees are ranged also from the option to another, while some require no fees and another will add on a small mark up, see table above.
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 various size or strategy traders.
Mainstay on MT4 and MT5 platforms
No proprietary platform
Customer friendly design
The Comprehensive range of tools
Automated trading capabilities and Social Trading
Clear look and fee report
Web Trading Platform
Both MT4 and its newer version MT5 platforms do not require a big introduction, as platforms are known and popular also available in various versions including Web Trading which requires no installation and 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 enhanced with automated trading and social trading capabilities with no restrictions on strategies, also additional complex order types.
Another point to admit is great analysis tools that the platforms are enhanced with, which includes algorithmic rules, indicators, Autochartist and social trading functions also with Analytical materials from Claws&Horns.
Mobile Trading Platform
Mobile trading platforms for both iOS and Android with alerts, push notifications and full control over your trading account are also included into the package.
Another good point 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 available on working days only 24/5.
No 24/7 customer service
Support of international Phone lines and range of languages
In fact, those who have information obtaining advance among the others while trading, hence learning is an endless task, and the good news is that FP Markets supports personal strives and provides with learning materials, analysis and guides. This is done through FP Markets Trading Series presenting three sections that help to become the better trader that diverse to a different level of traders.
Also, FP Markets provides great research tools with comprehensive analysis suitable for beginning traders and also supporting everyday trading, while features including market outlooks, news feeds, trading ideas and many more.
Learning material and research tools
Forex News, Market Outlook
Numerous Trading ideas and Social Trading
LiteForex review sees a broker with a quite long history of operation also balanced trading conditions suitable for various trading styles, account size and level of experience.
We should admit good analysis tools and technology solutions LiteForex provides, also costs are rather good compared to other industry competitors.
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 a Cyprus entity that gives an extra layer of protection, and of course make your own research and LiteForex Review before you sign in.
Nevertheless, we would be glad to know your personal opinion about LiteForex, you may share your thoughts in the comment area below, or ask us for some additional information if required.
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