LiteForex Review 2024: Read Before You Trade
LiteForex offers multilingual support available 24/5 via live chat, email, and phone. Agents respond fairly quickly to queries and have a basic understanding of LiteForex’s services. Traders can access LiteForex’s copy trading environment from the ‘Investing’ section of the website. The performance of all the available trading strategies is presented in the ‘Traders Ranking’ subsection. A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates.
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- It informs traders of upcoming market events and releases that have the potential to stir price action, thereby creating viable trading opportunities.
- Namely, beginners with little or no trading experience are interested in lxcriticalg more about trading and developing a robust trading system.
- On the one hand, the broker should be praised for offering plenty of minor forex pairs, such as USDTRY, USDMXN, and GBPSEK.
- It should be noted that LiteForex applies a slightly different cost structure to its two account types.
In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and the transparency of information provided. Forex or the trade-in pairs of currencies is a very profitable LITEFOREX Trading Terminal activity globally. Traders are never left in the dark because of the powerful customer support in many languages. Trade in Forex currency pairs 24/5 and try your luck with major and minor or exotic pairs of currencies. After the successful downloading of the software, go through the process of opening an account. The first step will involve the creation of a Profile of the applicant with personal details.
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 xcritical scam accounts in the event of brokerage liquidation. However, the broker generally charges high trading fees on its Standard account and provides extremely limited instrument offering of about 70 assets. Traders can use the built-in economic calendar, which is an essential tool in a trader’s arsenal. It informs traders of upcoming market events and releases that have the potential to stir price action, thereby creating viable trading opportunities.
Daily analytical reviews and forecasts of the Forex market
Some features and services may vary depending on where you reside and which entity you open an account with. This broker has invested substantially in the functionality and navigability, which makes an excellent first impression on would-be traders. The LiteForex site features extensive information about the account types and assets available to buy and sell using its platform. Customer service contact information is prominently displayed for smooth communication with the support team. However, LiteForex’s range of instruments is somewhat limited, with an absence of share CFDs and cryptocurrencies. While the spreads on its Classic account are relatively high, the ECN account type offers more competitive trading fees.
LiteForex Main Features
The Economic Calendar brings you up to date with the most important macroeconomic news relating to the forex market. Spreads being usually low, greater profits come to the traders. LiteForex (Europe) Ltd functions separately and services customers from Europe. LiteForex Investments Limited caters globally to 500,000 clients and maintains numerous offices in many countries. LiteFinance Global LLC does not provide services to residents of the EEA countries, USA, Israel, Russia, and some other countries. You can download MetaTrader 4 in the “Trading Platforms” section of your broker’s website.
In this review, I tested the MetaTrader 5 platform, which features multiple essential tools, such as one-click trading, an alarm setting option, and a market depth tool. These allow traders to examine various market developments from different angles and to exploit the underlying trading opportunities in multiple ways. Download MetaTrader 4 trading platform for your smartphone or computer and get access to the Forex market from wherever in the world. Additionally, the broker offers a range of educational guides, which are freely available on the website. I appreciated their diversity and sharp focus on technical analysis, fundamental analysis, and trading psychology.
The broker also has very tight margin call and stop-out policies. A program designed for traders who are new to the Forex market. Share trading is offered along with many other assets in LiteForex. Gold and oil are 2 precious commodities that attract a lot of attention. The risk of financial loss gets xcritical official site reduced through researched trading that uses various trading signals and indicators.
As one of the leading online brokers of global renown, LiteForex Online Trading Platform has carved a niche with committed services. Usually competitive, spreads can sometimes be high, like two pips. In FTSE 100 and other major indices, the spread commences at 1 point. Those who like a break from conventional markets may seek the common cryptocurrency pairs to trade-in. Choices are the MT4 and MT5 platforms and the mobile apps for both android and iOS systems. Traders’ Tools of several kinds help safe and research trading to elevate profits and minimize losses—analytical tools aid technical and fundamental forex understanding.
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. Another benefit related to the European Union’s financial markets regulations is the negative balance protection feature that applies to both account types.
