- Low-cost structure
- Access to a large selection of forex pairs at reasonable spreads
- Excellent customer service with 24-hour availability five days a week
- Extensive trader education and financial information resources
- Limited to traders in 28 countries
- Shares trading is limited to US-listed companies
LiteForex has a track record of more than 15 years in the online brokerage industry with offices in jurisdictions worldwide. The company’s European operations (based in Cyprus) offer traders a variety of account types and forex buying, selling, and swap options while maintaining a low-cost structure that is fully compliant with EU financial regulations.
The brokerage offering from LiteForex Europe is centered around affordability, ease of account funding, enhanced financial markets analysis, and investor education that empowers users to improve their trading skills and achieve financial freedom. The LiteForex website contains excellent financial analysis and a variety of tutorials along with how-to guides that will bring new traders up to speed while providing seasoned investors with the detailed information they require.
Overview
- Type of BrokerNon-Advisory/Executionary Broker (Market Maker)
- Non-Advisory/Executionary Broker (Market Maker)Cyprus Securities and Exchange Commission (CySEC)
- Clients Accepted from28 countries (mostly in the EU)
- Assets OfferedForeign Exchange, Indices, Commodities
- Platforms AvailableMetaTrader 4 and 5
- Mobile CompatibilityAndroid & iOS
- Payment Types AcceptedCredit Card, Debit Card, Neteller, Skrill
Account Types
|
Features |
Classic |
ECN Account |
|
|
|
|
|
Account Currencies |
USD, EUR, GBP, PLN |
USD, EUR, GBP, PLN |
|
Available Leverage |
Up to 30:1 |
Up to 30:1 |
|
Minimum Deposit |
US$50 |
US$50 |
|
Starting Spreads |
2 pips |
2 pips |
|
Commission Per Trade |
None |
None |
|
Decimal Pricing |
Up to 5 |
Up to 5 |
|
Trading Instruments |
Foreign Exchange Commodities Indices |
Foreign Exchange Commodities Indices |
|
Min. Lot Size Per Trade |
0.01 |
0.01 |
|
Max Lot Size Per Trade |
100
|
100
|
|
Demo Account |
Yes |
Yes |
|
Swap/Rollover Free |
Yes |
Yes |
|
Copy Trading Support |
Yes |
Yes |
Compliance & Regulation
This company is a registered broker operating from Cyprus, an EU member state located in Southern Europe. As such, 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.
Traders considering availing themselves of the various benefits of a LiteForex account will want to weigh up the benefits and risks involved, bearing in mind that the company operates in a well-regulated jurisdiction.
Pricing
The low-cost structure associated with this broker stems from the spreads offered on its various asset classes, including a built-in markup. This could mean that trading individual currency pairs turns out to be less advantageous. However, the overall rates that traders have at their disposal are still quite competitive compared with similar online brokers. Additionally, deposit fees are automatically refunded and credited to the customer’s account balance once the funds have cleared.
It should be noted that LiteForex applies a slightly different cost structure to its two account types. The Classic account features 0% commissions with the spreads, including a markup, as outlined above. However, the ECN account, which is aimed at professional and institutional users, charges a flat commission of $5 per round trip per lot.
Reliability & Security
Account holders can choose between MetaTrader 4 and MetaTrader 5 as a trading platform. This industry-standard software comes with a raft of features and benefits and is recognized for its data security features, analytics tools, and quick execution times.
This broker provides a reliable and engaging copy trading facility that functions as a social media network. Users can view the trades carried out by top-ranked account holders and imitate their winning strategies as they aim to increase their performance daily.
