The minimum trade size is 0.01 lots, the margin call is 100%, and the stop out level is 50%. Another strong point is the broad range of forex trading educational resources available on the broker’s website. Traders can choose between the Classic or ECN account at LiteForex Europe. The main difference between the two accounts is that tighter spreads come with the ECN option, plus scalping capabilities and access to the social trading platform.
Smooth Registration and Document Approval Process with LiteFinance.org
Online registration merely requires an e-mail address or phone number and a password. Traders may also sign-up through their Google or Facebook accounts. Since LiteFinance claims to adhere to AML regulations, verification is mandatory. It is generally satisfied by a copy of the trader’s ID and one proof of residency document.
- The web-based trading platform allows a $10,000 demo account without registration, a convenient method to get familiar with its functionality.
- We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms.
- LiteForex also offers social trading capabilities, and MT5 has inbuilt plugins for this purpose.
- LiteFinance maintains one regulated subsidiary for EEA, UAE, and Marshall Islands-based traders.
- We use dedicated people and clever technology to safeguard our platform.
- LiteForex Europe Limited is also a member of the Investor Compensation Fund, which protects client funds up to 20,000 EUR.
Additional Features
Here is a screenshot of quotes at LiteFinance during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. The non-EU entity, LiteForex Investments Limited, is based in various locations around Asia xcritical courses scam and the Middle East, including Thailand, Vietnam, Malaysia, Kenya, Nigeria, and Iran. LiteForex (Europe) is a trusted broker based in Cyprus and licensed by the Cyprus Securities and Exchange Commission (CySEC). Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our xcriticals.
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Another benefit related to the European Union’s financial markets regulations is the negative balance protection feature that applies to both account types. The Cyprus Investor Compensation Fund covers all retail trading accounts (for those not belonging to professional or institutional investors) against broker liquidation to a maximum value xcritical of EUR 20,000. LiteForex provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as the main trading platforms. LiteForex also offers social trading capabilities, and MT5 has inbuilt plugins for this purpose.
To evaluate brokers, we test the accounts, trading tools and services provided. Over 100 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process. LiteForex Europe is a trusted broker offering social trading, ECN spreads and fast withdrawals.
The broker’s excellent customer service (which is available day and night most days of the week) adds an extra element of reliability to an already impressive service offering. Additionally, the broker also offers advanced trading tools to assist their traders. The website is multilingual, and customer support is available 24/5 via live chat, which is also multilingual. It is possible to access LiteForex live chat in a demo mode and get answers to all your questions. Additionally, the website is multilingual together with the live chat which is available 24/5 in 22 languages. Live chat provides the ability to connect to LiteForex’s different departments, including partnership and financial departments, together with general customer support.
LiteFinance caters to most international traders, including the UK, the Philippines, Malaysia, and Nigeria. Like most international brokers, LiteFinance does not accept traders from the US. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. The EU entity only accepts traders from the EEA, plus the UAE and Marshal Islands. If you have experience trading with LiteForex Europe please share your personal review of the broker and what you think are strong and weak points. Compare LiteForex Europe with the top 3 similar brokers that accept traders from your location.
Available in 22 languages, the MT4 and MT5 mobile apps are suitable for iOS and Android (APK) smartphone and tablet users. The apps come with the same features as their desktop counterparts and allow for full-fledged technical analysis with custom charting tools and trade execution capabilities. LiteForex Europe has an extensive mobile app offering, consisting of not only the MetaTrader apps but also the broker’s own apps tailored to forex signals, analysis, and strategies. The MT4 platform is the go-to choice for many individuals, whether they are new to trading or seasoned professionals.
