Liteforex Review
Overview
Company Information LiteForex is one of the well-respected and reputable Forex brokers serving clients for more than ten years in the industry. The international provider was founded in 2005, and… more
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| Broker | Liteforex |
|---|---|
| Website URL | http://www.liteforex.com/ |
| Founded | 2005 |
| Headquarters | Majuro, Marshall Islands |
| Support Number | 0-808-189-1398 |
| Support Email | clients@liteforex.com |
| Support Types | Phone, Live Chat, E-mail |
| Languages | English, Arabic, Russian, Malay, Indonesian, German, Portuguese, Spanish, French, Polish, Thai, Italian, Vietnamese, Chinese |
| Minimum Trade Amount | 0,01 lots |
| Maximum Trade Amount | 100 lots |
| Free Demo Account |  |
| Regulated | |
| Account Types | Cent, Classic, PAMM, ECN |
| Deposit Methods | WebMoney, Qiwi, Neteller, Skrill, Moneta.Ru, OkPay, PM, Boleto, Transferencia Bancaria Local, Wallet One, AliPay, Payeer, Wire Transfer, Visa, MasterCard, LiteForex Card, Visa Debit, Visa Electron, Western Union, Local Deposit |
| Withdrawal Methods | WebMoney, Qiwi, Neteller, Skrill, Moneta.Ru, OkPay, PM, Boleto, Transferencia Bancaria Local, Wallet One, AliPay, Payeer, Wire Transfer, Visa, MasterCard, LiteForex Card, Visa Debit, Visa Electron, Western Union, Local Deposit |
| Types of Assets | Forex, Indices, Metals |
| Account Currency | USD, EUR, СHF, RUB |
| US Traders Allowed |  |
| Mobile Trading | |
| Tablet Trading | |
Full Review
Company Information
LiteForex is one of the well-respected and reputable Forex brokers serving clients for more than ten years in the industry. The international provider was founded in 2005, and it’s now operated by two companies. The first is LiteForex Investments Ltd., which is registered in the Marshall Islands under number 63888, it’s also regulated by the local Marshall Islands Business Corporation Act. The official headquarters of this branch are located at the following address – Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. On the other hand, the second company related to LiteForex is called Liteforex Europe Ltd that is registered and regulated by the Cyprus Securities and Exchange Commission also known as CySEC. The registration number is HE230122, and the official address is 22 Griva Digeni Avenue, Sergides Court, Limassol, Cyprus 3106. The international broker offers a overview of all its activities since its creation in 2005. Those who are curious to learn more can quickly check the extended timeframe located on LiteForex’s website. Clients can also find various educational resources, tutorials, as well as market analysis and trading strategies published on a regular basis. The broker is a perfect choice for beginners, but it’s also quite suitable for experienced traders who are looking for a better option.
Trading Information
LiteForex offers some of the most traditional business models, STP and ECN accounts are available for the clients of the international broker. The available financial instruments range from currency pairs, CFDs, ETFs, commodities, indices and stocks. LiteForex provides variable and fixed spreads on all of the trading possibilities with extremely tight ranges suitable for day traders. The maximum leverage allowed by LiteForex is 1:1000. Also, the company offers three types of accounts for its clients. There is an ECN profile employs increased quoting precision, and no requotes of the market executions. The leverage here is limited to 1:400 and traders will be happy to learn that there is a conflict of interest with the broker. Cent accounts are also available for those who want to take advantage of the maximum leverage option with the lowest possible investment. Of course, Classic accounts are also part of the offering with a leverage of 1:500 and similar market conditions, such as the ECN plan. Favorite trading strategies like scalping, trading with EAs, and hedging is allowed. Demo accounts are also provided by LiteForex and clients can quickly test the broker first before real money trading.
Trading Platforms
The international Forex broker gives access to the most popular trading platform of all called MetaTrader. Both version 4 and 5 are available for download. Those who have some trading experience in the past are probably familiar with the software, but novice traders may see it confusing at first. MT4 is very intuitive and powerful tool, with its programming language and various charting capabilities, indicators and much more. The newer version of the platform is extremely well-designed as well, but it’s still not that popular as its predecessor. LiteForex also provides a web-based solution for its clients with the help of MT4 Web Terminal. The online platform requires no installation and can be accessed from any browser. The website of the broker also offers helpful gadgets and tools that will ease and speed up your analysis process. Here are some of them: economic calendar, Fibonacci calculator, financial news feed, and various trading ideas from LiteForex and their partners.
Security and Customer Service
It’s a must for every Forex financial institution to provide top security for its clients and LiteForex is no exception. The company has SSL encryption in action on all the pages of the website. Safe and protected browsing is ensured by the issuer of the certificate COMODO.
Customer will be able to enjoy a perfect support with polite and friendly staff. LiteForex handles all the issues pretty quickly and offers technical support five days a week. There are plenty of methods to contact the broker and some of the widely used are live chat, European phone line, callback services for both new and existing clients, email, contact form, and all of the popular social media channels (Facebook, Google+, Twitter, LinkedIn, YouTube, and Forex Peoples). The website is translated into more than ten different languages, and most of them are European.
Deposits and Withdrawals
When it comes to payments, LiteForex let its customers choose from many different options. First of all, clients can choose one of the companies related to the brand. Both of them offer various deposit and withdrawal methods that will surely suit even the most delicate needs. Payments with credit/debit cards, bank wire transfers, and electronic transfers are the most popular choices. The absolute deposit minimum is $1, which is also the minimum to open a Cent account with the broker. LiteForex doesn’t apply any taxes or extra fees but warns its clients to examine the terms of any third party payment service carefully. There is nothing special about withdrawals, and they are processed pretty much the same way, except for the longer processing time, which is closely related to the type of transaction method.
Deposit Bonus and Loyalty Programs
LiteForex offers a broad range of rewards, but they are separated among the two different companies. In other words, if you are a client of LiteForex (Europe) Ltd., promotions on LiteForex Investments Ltd. will be unavailable for you. Let’s see all the bonus possibilities provided by the broker. Clients can enjoy an excellent spread refund program, which gives back up to 35% of the total spread cost. Newly registered customers, as well as existing ones, can benefit from deposit bonus that equals 200% of the investment. The minimum requirement to obtain the promo cash is $100 deposited. Also, only new accounts can receive extra 30% bonus on their initial deposit, if they make it within 24 hours. Affiliate program of the type “Refer a Friend” is also introduced to every registered member of LiteForex. Those who decide to participate in the program gets 10% of his/her friend’s initial deposit.
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