LiteForex Review #1: Is LF Reliable & Regulated FX Broker?

LiteForex offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account. The broker offers extensive supporting content, multilayered safety mechanisms, and fast but basic customer support.

I appreciated their diversity and sharp focus on technical analysis, fundamental analysis, and trading psychology. It is comprised of regular market updates that inform traders of xcritically unfolding trading setups. Each article consists of an economic breakdown and a technical setup supported by a chart. Compared to the industry average, LiteForex offers an average amount of forex pairs and commodities, and a high amount of indices. Trading View offers advanced charting capabilities and multiple analytical tools for carrying out advanced technical xcritical scam analyses. As a chart artist, I have always valued platforms with detailed and versatile charts, and LiteForex’s platform is one such station.

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1. A CySEC licensed subsidiary exists for the EEA, the UAE, and the Marshall Islands traders.
2. The much-awarded international online broker facilitates trading in a wide variety of instruments—trade in Forex, CFDs, indices, shares, commodities, and cryptocurrencies.
3. Always updated with the latest market information and presenting a range of advisory services, traders find the best opportunities for successful trading with them.
4. Mobile forex apps make forex trading easier by enabling traders to create filters and get the latest information only for selected trading instruments.

Additionally, the broker also offers advanced trading tools to assist their traders. The website is multilingual, and customer support is available 24/5 scammed by xcritical via live chat, which is also multilingual. Traders registered at LiteForex can avail of a safe, secure, and user friendly platform for high-speed online trading.

Top Features

Beginning traders need to be very cautious and learn from the demo account and seniors initially. The LiteForex website and trading platforms are available in English in addition to 14 other languages. Traders will conduct all financial transactions from the secure back office of LiteFinance. I find the deposit and withdrawal methods sufficient for most traders and appreciate the inclusion of cryptocurrencies.

The Desktop Version of LiteForex’s MetaTrader 5 Platform

The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades. It facilitates technical analysis by providing an overview of price action behavior. Chart artists use many analytical tools and chart configuration possibilities to examine it from multiple angles. In my experience, the really important aspect of a chart is how easy it is to scale price action up and down. Additionally, MetaTrader 5 has an intuitive mobile app, which helps traders stay connected to the global capital markets even on the go.

Namely, beginners with little or no trading experience are interested in lxcriticalg more about trading and developing a robust trading system. Liteforex (Europe) Ltd provides services only to the residents of countries from the European Economic Area (EEA), the United Arab Emirates (UAE), and the Marshal Islands. You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades. Brokers operate multiple entities because it allows them to serve clients worldwide. However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection.

Extent of Leverage

Traders are never left in the dark because of the powerful customer support in many languages. Spreads or commissions are charged according to the account opted for. Trade in Forex currency pairs 24/5 and try your luck with major and minor or exotic pairs of currencies. According to the choice opted, the downloaded file will differ in size. The file size will be small in the mobile app from the Android Google Play or iOS Apple store. No fee is charged for downloads except the fees paid to the internet service provider.

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. Forex traders focused primarily on major and exotic currency pairs will benefit from competitive spreads and a transparent fee structure while using the industry-standard MetaTrader platform. I like the trading environment at LiteFinance for cryptocurrency traders who seek a copy trading service.

LiteForex operates under a Cyprus Securities and Exchange Commission (CySEC) license. In addition to these regulations, the broker has a number of security measures in place to protect client funds. LiteForex is a part of the investor compensation fund and all client funds are kept in segregated bank accounts, preventing the broker from using client money for their own purposes. Furthermore, to prevent a trader from losing more than their account balance, the broker offers negative balance protection.