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. 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.
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The $50 minimum deposit is also reasonable and the demo account and trading tools make the broker a good choice for beginners. LiteForex Europe offers margin trading on a wide range of instruments, including currencies, commodities, and stock indices. The broker’s account offering is simple and comes with additional features such as a social trading platform and a forex analysis portal. DailyForex.com adheres to strict xcriticals to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about.
Customer service contact information is prominently displayed for smooth communication with the support team. It should be noted xcritical scammers 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.
Fees & commissions review of LiteForex
Web users have the same access to real-time quotes, charting tools, and trading history directly from their browser. The terminal is compatible with any operating system, including MacOS, and is accessible once you have your account login details. LiteForex is now an online ECN broker with proprietary technical solutions for moving transactions to the interbank and to liquidity providers directly. Social Trading is a system for automatically copying the transactions of other traders, as well as additional benefits for more convenient and efficient trading.
- Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering.
- Private investors focusing primarily on forex pairs while appreciating transparency and competitive pricing will benefit, especially from this broker’s offering.
- I always recommend that traders check them before evaluating the total trading costs.
- At LiteForex, you may trade major currency pairings and cross rates, oil, precious metals, stock indexes, and blue chips, as well as the widest selection of cryptocurrency pairs.
- It can create unrealistic trading expectations, and the absence of trading psychology negates the educational value.
- Since LiteFinance claims to adhere to AML regulations, verification is mandatory.
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Regrettably, none had a positive impact, making LiteFinance a less transparent, secure, and trustworthy brokerage. You can sign up for an account from the website home page, which will take you through the verification process. You will then receive your sign-in credentials so you can start trading.
LiteForex Broker Review 2022: Pros & Cons
Dear Mohamad,We are glad that you are using our services and actively use the possibilities of communication with other traders.Best regards,LiteFinance representative. Since rebranding from LiteForex to LiteFinance, transparency dropped, and issues arose. The high trading costs remain, and at its present state, LiteFinance cannot be said to be a good broker. Despite 16 years as a brokerage, LiteFinance, previously known as LiteForex, appears to undergo unfavorable changes. It could explain its corporate headquarters move and expansion into less-regulated cryptocurrency activities.
Since rebranding, LiteFinance lacks transparency across its xcritical official site core trading environment. Until this broker fixes its issues and returns to the same standards established over 15 years as LiteForex, I advise extreme caution. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.