LiteForex Review

1. What is LiteForex?
2. LiteForex Pros and Cons
3. Is LiteForex safe or a scam?
4. Leverage
5. Accounts
6. Market Instruments
7. Fees
8. Spreads
9. Deposits and Withdrawals
10. Trading Platforms
11. Customer Support
12. Education
13. Conclusion

Our Review Method

• 55Brokers Financial Experts with over 10 years of experience in Forex and CFD Trading Market have reviewed broker’s offers including fees, spreads, available platforms, verified regulations, contacted customer service, and placed trades to see trading conditions and give an expert opinion on LiteForex

What is LiteForex?

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.

• Though, being a regulated broker, earlier LiteForex had some complaints and issues with traders claiming LiteForex had non-transparent conditions which was the reason why there were some concerns about LiteForex’s trustworthiness.
• Yet, now we see that broker clears its record as more brokers sign for its service. Also, regulatory overseeing from the European CySEC regulation gives extra layers of protection; however, we recommend doing your research on LiteForex Review as well to see whether it is a suitable broker for your need

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.

LiteForex Pros and Cons

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.

Overall LiteForex Ranking

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

• LiteForex Overall Ranking is 7 out of 10 based on our testing and compared to over 500 brokers, see our ranking below compared to other enterprise-class brokers.

LiteForex Alternative Brokers

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:

• XTB – Good for Cryptocurrency Trading
• Dukascopy – Excellent for Shares, Futures Trading
• Interactive Brokers – Good for Real Stock trading

Awards

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.

Is LiteForex safe or a scam?

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.

Is LiteForex regulated?

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.

• In addition to that, the broker also holds St. Vincent and the Grenadines which is an offshore entity and we do not recommend trading under offshore entities due to the low requirements and risks. However, the broker has proven its reliability throughout these years and can be trusted.

See our conclusion on LiteForex Reliability:

• Our Ranked LiteForex Trust Score is 7.9 out of 10 for good regulation and a decade-long operation. However, on its weak points, the broker doesn’t hold any other top-tier license apart from CySEC and international trading is conducted through an offshore 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 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.

• However, different authorities apply adjusted regulation according to their legislation and particular laws, and as a result, may diverge from the entity or regulator.
• Likewise, LiteForex International is based in the offshore St. Vincent and the Grenadines which is a non-regulated entity, since its requirements are quite low and do not give sharp protection to clients. So always make sure to learn better under which entity you trade and what protection conditions apply to you, but it would be better to open an account under European ESMA regulations.

What is the leverage in LiteForex?

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.

• International clients are allowed maximum leverage of 1:500
• European traders can use a maximum of 1:30

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.

Account types

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.

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 happened during the stage of your identity verification necessary due to regulations.

LiteForex Trading Instruments

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. 

• LiteForex Markets Range Score is 7.5 out 0f 10 for a good selection of instruments, yet the main point here is that the range is narrow and limited to only CFDs and Forex. There are no cryptocurrencies available for traders in all jurisdictions

How many currency pairs does LiteForex trade?

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.

Fees

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.

• LiteForex fees are ranked low with an overall rating of 7 out of 10 based on our testing and compared to over 500 other brokers. See our findings of fees and pricing in the table below, however, the broker’s fees are generally considered good

LiteForex Spreads

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.

• LiteForex Spreads are ranked low with an overall rating 7 out of 10 based on our testing comparison to other brokers. We found Forex spreads are slightly higher than the industry average of 2.2 pips for EURUSD for the Standard account, however, for other account type and assets spreads are pretty much attractive

Rollover

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.

Deposit and Withdrawal Methods

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.

• LiteForex Funding Methods are ranked Excellent with overall rating 8.7 out of 10. Minimum deposit is among the lowest ones in the industry, some variation among jurisdiction is possible. Overall fees are either none or very small

Here are some good and negative points for LiteForex funding methods found:

Deposit Options

You may choose between the most common methods or options available in 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.

What is the minimum deposit for LiteForex?

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
Minimum Deposit	$50	$500

Withdrawal

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.

How to withdraw money from LiteForex?

To withdraw fonds from your trading account, the following steps should be taken:

1. The funds are withdrawn through Client Profile in the “Finance” section using the same payment methods used to top up the account
2. The withdrawal request is proceeded manually by the financial department, the transaction is carried out on first-come-first-serve basis within 1 working day
3. However, note that for the bank wire transfers the transaction process may take up to 5 days depending on the sender’s operational speed and beneficiary’s bank.

LiteForex Trading Platforms

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.

• LiteForex Platform are ranked Excellent with overall rating 8.9 out of 10 compared to over 500 other brokers. We mark it as excellent being one of the best proposals we saw in industry since it lists the industry-standard platforms like MT4 and MT5

Trading Platform Comparison to Other Brokers:

Web Trading Platform

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.

Desktop Platform

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 Platform

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.

Customer Support

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.

• Customer Support in LiteForex is ranked Excellent with overall rating 8.9 out of 10 based on our testing. We got some of the fastest and most knowledgeable responses compared too other brokers, the main point is that it is not available on weekends

See our find and Ranking on Customer Service Quality:

LiteForex Education

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.

• We ranked LiteForex Education an overall rating of 8 out of 10 based on our testing. The broker offers a quality educational resources with aanlytical tools allowing novice traders to test different strategies before live trading

LiteForex Review Conclusion

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:

• Beginning Traders
• Professional Traders
• Algorithmic or API Traders
• EAs running
• Copy Trading
• Scalping / Hedging Startegies
• Traders who prefer MT4 or MT5 platform
• Stock CFD trading
• VPS Trading
• Currency Trading and CFD Trading
• Suitable for a Variety of Trading Strategies

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.