LiteFinance is an unregulated Forex and CFD broker operational since 2021 out of St. Vincent and the Grenadines, with a subsidiary regulated in Cyprus. It operated out of the Marshall Islands as LiteForex before its relocation. LiteFinance offers a phone number but does not have a dedicated Contact Us or Support section. LiteFinance Global LLC does not provide services to residents of the EEA countries, USA, Israel, Russia, and some other countries.
LiteForex Account Types
I find the deposit and withdrawal methods sufficient for most traders and appreciate the inclusion of cryptocurrencies. An easy-to-use dedicated trading platform provides a comprehensive analytical toolkit and suits any trader regardless of experience. Over the years, LiteFinance has demonstrated its commitment to excellence in the world of online trading. With its wide range of services and customer-centric approach, it is clear why LiteFinance has earned its reputation as an innovative broker in the ever-evolving world of online trading.
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- Our broker ratings are also informed by the experience of our researchers during the evaluation process.
- It presents traders with an ideal environment to test EAs and new strategies.
- Traders can use the built-in economic calendar, which is an essential tool in a trader’s arsenal.
- The latter offers slightly more competitive prices than the typical STP account, but it falls behind the typical ECN account type.
Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. Another benefit related to the European Union’s financial markets regulations is the negative balance protection feature that applies to both account types. The Cyprus Investor Compensation Fund covers all retail trading accounts (for those not belonging to professional or institutional investors) against broker liquidation to a maximum value of EUR 20,000. LiteForex has a track record of more than 15 years in the online brokerage industry with offices in jurisdictions worldwide.
Promote the LiteFinance brand as our partner and earn up to 70% of spreads per attracted client. Trade in various assets using built-in analytics and signals to predict price movements. Liteforex (Europe) LTD provides services only to the residents of countries from the European Economic Area (EEA), the United Arab Emirates, and the Marshall Islands.Full list of countries is available here. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. In addition, there are established centers in various regions, so Europe and international are covered, however, customer service is available on working days only 24/5.
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. Regrettably, none had a positive impact, making LiteFinance a less transparent, secure, and trustworthy brokerage. The BOOM500, BOOM1000, CRASH500, and CRASH1000 indices have xcritical reviews been added to LiteFinance’s list of trading instruments.
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We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms. The broker also offers Islamic accounts for swap-free trading, as mandated under Shariah law. Traders who want to open an Islamic account need to contact LiteForex’s customer support and request the service. 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 LiteForex’s platform is one such station. 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.
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. LiteForex processes most payment requests between several minutes to several business days, depending on the chosen payment method. The broker does not charge deposits and even compensates the client for any third-party banking fees.
I appreciated their diversity and sharp focus on technical analysis, fundamental analysis, and trading psychology. LiteForex offers robust research content catering to the needs of novices and experienced traders alike. The broker offers market breakdowns developed in-house and also incorporates content from Claws&Horns. Dormant accounts are charged an inactivity fee of $3, which is quite low. Deposits and withdrawals are cost-free with LiteForex, though third-party banking fees may apply. This is only true for withdrawals, as the broker reimburses its clients for any processing fees incurred when depositing.
Traders can use this type of content to get a sense of the prevailing market sentiment. 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. 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.
These allow traders to examine various market developments from different angles and to exploit the underlying trading opportunities in multiple ways. 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. The raw spreads from 0.0 pips on the ECN account are much lower and generally fall below the industry average.
Based on our research, xcritical reviews through its regulatory compliance, the broker offers negative balance protection as well as a compensation scheme of up to €20,000 in case of traders’ insolvency. Overall, LiteForex has great trading conditions with various trading instruments, useful research, and popular platforms. Its decade-long operation has given LiteForex a great step in having the right experience in the market.
Any changes to standard trade hours are reliably communicated by the LiteFinance news blog. Additional support is supplied in the form of Claws&Horns’ expertise; an analytical agency providing comprehensive analytical tools. At the time of writing, LiteFinance does not offer a welcome bonus or any promo codes.