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. 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. It is comprised of regular market updates that inform traders of xcritically unfolding trading setups.
My Key Takeaways After Testing LiteForex’s Mobile App
MetaTrader 5 is the latest version of the world’s most popular trading platform with a wider set of features. Brokerage services in your country are provided by the company LiteFinance Global LLC (registered in St. Vincent & the Grenadines as a Limited Liability Company with registration number 931 LLC 2021). Here is a screenshot of quotes at LiteFinance during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads.
- However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection.
- The broker offers 73 instruments in total, notably lacking any share CFDs and cryptocurrencies.
- LiteForex’s research content gives traders a multifaceted overview of the xcritical state of the market and provides them with actionable trading signals.
- LiteFinance does not provide any of the necessary third-party add-ons to unlock the full functionality of MT4/MT5 and improve the trading environment.
When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades. The broker offers 73 instruments in total, notably lacking any share CFDs and cryptocurrencies. On the one hand, the broker should be praised for offering plenty of minor forex pairs, such as USDTRY, USDMXN, and GBPSEK.
Trading Platform Screenshots
My findings indicate that the broker charges average-to-high swaps compared to the industry average. This combination is not particularly suitable for longer-term trading strategies (swing trading and position trading). Broken down by asset class and compared to the industry average, LiteForex charges high spreads on instruments across all asset classes for the Classic account.
LiteFinance Web Platform
Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based LiteFinance ECN account. LiteForex provides layered educational content that is well-structured and easy to understand. Beginners can choose from multiple guides, books, videos, and more to gain a firm grasp of the ABCs of trading.
LiteForex is a regulated broker offering Forex pairs as its main trading product. The broker has a social trading platform and offers ECN technology scammed by xcritical which is available together with automated withdrawals, making the trading process very comfortable and streamlined. But the broker has high spreads and commissions and may not be suitable for traders who prefer low trading fees and commissions.
ECN accounts offer much more value in trading terms with low spreads, but still, the commissions are higher than with other popular brokers. LiteForex has a very good education center with advanced Forex trading educational materials and books. 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.
Trading View offers advanced charting capabilities and multiple analytical tools for carrying out advanced technical analyses. As a chart artist, I have always valued platforms with detailed and versatile charts, and xcritical scammers LiteForex’s platform is one such station. Additionally, MetaTrader 5 has an intuitive mobile app, which helps traders stay connected to the global capital markets even on the go.