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LiteForex Broker Review 2021

LiteForex Broker Review

LiteForex Broker Review

CySEC regulates LiteForex. As always in the EU, CySEC, in turn, is overseen by ESMA. On the other hand, in the Marshall Islands, he is completely unattended, which means he can propose almost any trade rules he deems appropriate.

Although the broker explicitly states on its portal that LiteForex Investments Limited – a branch in the Cayman Islands – does not accept clients from any EU / EEA country, there are examples of EU traders who have successfully registered with this branch of the broker.

Essentially, this means that EU traders who are usually mandated to trade with a Cyprus-regulated company can instead open an account with a company based in the Marshall Islands. Thus, European traders can easily bypass the very strict ESMA rules that severely limit leverage in Europe.

Assets offered by LiteForex

The underlying trading assets offered by LiteForex include a pretty good selection of over 50 currencies and over 20 different cryptocurrency pairs. Also, the broker allows its clients to trade stocks of more than 40 major US firms and major stock indices and CFDs on various commodities.

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Platforms by LiteForex

All tools and reviews provided by LiteForex can be traded on MT4 / MT5, which are the only two platforms provided by the broker. While this may seem boring to some traders, it provides a smooth transition from other brokers for traders who are already used to these platforms. Another nice advantage of using MT4 and 5 is that it provides access to a very wide selection of Expert Advisors ( trading algorithms ) that exist for both platforms, both paid and free strategies.

LiteForex gives clients the flexibility between registering with an ECN account or the usual “classic” one. Although ECN provides the tightest spreads to date, it does provide a fee for all transactions. Meanwhile, the classic account has much wider spreads but no commission trades.

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As you might guess, the ECN model is usually more suitable for traders with large trading accounts. In contrast, the Classic Forex trading account is more suitable for small traders and newcomers to the Forex market.

All LiteForex accounts can be funded using all conventional funding methods. LiteForex has added several other payment systems, including popular cryptocurrencies.

Support by LiteForex

LiteForex support service is available around the clock via chat on the company’s website. Another unique feature of LiteForex is that it has also created special groups and online chats for their community, where traders can communicate and help each other on various issues. Finally, customer support can also be obtained from the UK registered phone number.

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Open Live or Demo Account in LiteForex

LiteForex Conclusions

To summarize, LiteForex can be considered a worthy choice as a broker for anyone who prefers to stay on MetaTrader 4 or 5. Considering that EU clients may register with an offshore LiteForex representative, leverage here can also be quite overpriced with this broker. Unfortunately, however, the spreads are still relatively high compared to some of its competitors.

Briefly about Liteforex

YEAR OF FOUNDATION:2005
REGULATORS:CySec , FCA
ACCOUNT TYPES:CLASSIC, ECN, DEMO ECN
TRADING PLATFORMS:MetaTrader 4 , MetaTrader 5 , WebTerminal
min ACCOUNT$50
min TRANSACTION (LOT):0.01
max SHOULDER1: 1 – 1: 500 
MARGIN CALL / STOP OUT LEVEL :100% / 20%
TRADING TOOLS:currency pairs, crypto pairs , metals, gold , oil , indices , CFDs
SPREADS:from 0
DEMO ACCOUNT:YES
CENTAL ACCOUNT:NO
ECN / STP / NDD ACCOUNTS:YES / NO / NO
SECURED ACCOUNTS:NO
PAYMENT SYSTEMS:VISAMasterCardWebMoneySkrillNetellerPerfectMoneyQIVIYandex moneyBank transferSWIFTSberBankBitcoin
Open Live or Demo Account in LiteForex

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