LiteFinance Reviews Read Customer Service Reviews of litefinance org
You can contact the support team to get help with a range of queries, from account registration and verification to copytrade services and forgotten investor passwords. Traders can use the training account free of charge to explore different strategies under real market conditions. There’s no risk of losing any money, as all funds in the demo account are virtual and uncapped. Registration for a demo account takes less than 1 minute via the Personal Profile and demo contests are also available. You can then open a real money trading account when you feel ready. LiteForex Europe’s advanced trading solution is the MT5 platform, designed with the professional trader in mind.
What is LiteFinance?
A CySEC licensed subsidiary exists for the EEA, the UAE, and the Marshall Islands traders. LiteFinance does not advertise its deposit and withdrawal policies, but some traders have reported issues and cancellations. The brokerage operating from St. Vincent and the Grenadines remains unregulated. A CySEC-regulated entity caters to EEA, UAE, and Marshall Islands traders.
Unique Features
I recommend traders evaluate LiteFinance as a new broker with limited experience and dismiss any goodwill and trust LiteForex created over 15 years. The most recent developments, starting with the launch of LiteFinance Global LLC, raise notable concerns. Funding is available via bank cards (Mastercard or Visa) and e-wallets including Skrill and Neteller.
However, the ECN account, which is aimed at professional and institutional users, charges a flat commission of $5 per round trip per lot. Where LiteForex excels is in the trading tools offered for free by the broker. All these tools are useful when trading and provide some assistance to traders, increasing their potential accuracy when making trading decisions. LiteForex also offers a Fibonacci calculator, which can further assist traders in defining better entry and exit points.
Account types available for traders on LiteForex
The web-based trading platform allows a $10,000 demo account without registration, a convenient method to get familiar with its functionality. I caution beginner traders about using a demo account as an educational tool. It can create unrealistic trading expectations, and the absence of trading psychology negates the educational value. This company is a registered broker operating from Cyprus, an EU member state located in Southern Europe. As such, scammed by xcritical 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.
At LiteForex, you may trade major currency pairings and cross rates, oil, precious metals, stock indexes, and blue chips, as well as the widest selection of cryptocurrency pairs. LiteForex is a regulated broker offering Forex pairs as its main trading product. The broker has a social trading platform and offers ECN technology which is available together with automated withdrawals, making the trading process very comfortable and streamlined.
- Our broker ratings are also informed by the experience of our researchers during the evaluation process.
- Since rebranding, LiteFinance lacks transparency across its core trading environment.
- You will then receive your sign-in credentials so you can start trading.
- I recommend traders use it as part of their education before opening an account.
- This broker provides a reliable and engaging copy trading facility that functions as a social media network.
Trading platforms and mobile trading reviewed at LiteForex
The present choices will leave traders with an incomplete and sub-standard experience unless they are willing to invest in upgrades. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based LiteFinance ECN account. All content on this site is for informational purposes only and does not constitute financial advice. Consult relevxcritical professionals in your country of residence to get personalized advice before you make any trading or investing decisions. DayTrading.com may receive compensation from the brands or services mentioned on this website. Compare the markets and instruments offered by LiteForex Europe and its competitors.
LiteFinance notes a 30% deposit bonus for the Classic account, where trading costs are 80% higher than its ECN account. LiteFinance offers three partnership programs, but limited information exists. Both accounts require a minimum deposit of $50, which is lower than xcritical cheating other competitors such as FXTM and OctaFX.