If you have experience trading with LiteForex Europe please share your personal review of the broker and what you think are strong and weak points. Compare the markets and instruments offered by LiteForex Europe and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
- Since rebranding, LiteFinance lacks transparency across its core trading environment.
- Overall, because of its history of responsible behaviour, the fact that LiteForex segregates all client funds, and provides negative balance protection, we deem Liteforex a safe broker for Filipinos to trade with.
- It is not meant as direct advice or a prompt to undertake any specific action, including investments or purchases.
- With excellent copy trading functionality and a range of accounts with low minimum deposits, including a micro-trading account, Liteforex appeals to beginner traders familiar with the Metatrader platforms.
- However, in a show of good faith, LiteForex segregates all funds from the company’s operating capital at top-tier banks, and it offers negative balance protection to all its clients.
Like other brokers, LiteForex requires customers to submit their KYC (Know Your Customer) documentation in order to open an account. It maintains regulation from the Cyprus Securities and Exchange xcritical Commission (CYSEC), and is registered in the Marshall Islands and Saint Vincent and the Grenadines. Online registration merely requires an e-mail address or phone number and a password.
How Can I Open LiteForex Account? A Simple Tutorial
Immediately, it should be understood that LiteForex does not have material that caters to intermediate or advanced traders. This is not a bad thing per se, but other top-tier online brokers do cater to all traders when it comes to this. Overall, LiteForex is regarded as a reputable and trustworthy broker that offers a range of trading services and educational resources to help traders succeed in the forex and CFD markets.
CFD Trading Brokers
Investors can also join the broker’s copy trading network with the social trading platform, which allows you to synchronise your accounts with professional traders. The LiteForex copy trading system is available to all clients and allows users to replicate positions and strategies in their own accounts. Simply choose a trader using the broker’s rating system, make a deposit and decide on an investment term. LiteForex Europe is a great option for forex traders with dozens of currencies, low spreads from 0 and a VPS for automated trading strategies. The materials are prepared by the well-known independent analytical agency Claws&Horns, which has established itself as a professional in the area of market analysis. Open an account with LiteForex and gain access to quality analysis for free.
We want trader, looking for valuable information, to visit us again and again to discover. That is why we are constantly working to make our forex trading blog the most convenient, helpful and interesting for traders. Our authors are famous analysts and successful traders who share their secrets of success in forex. The editorial stuff of forex trading blog constantly monitors the quality and credibility of the released materials and carefully selects the articles to be published.
LiteFinance does not advertise its deposit and withdrawal policies, but some traders have reported issues and cancellations. 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. The brokerage operating from St. Vincent and the Grenadines remains unregulated.
Most other brokers denominated accounts in at least five to ten currencies. LiteForex offers four base currencies, which is limited compared to other similar brokers. LiteForex also insures all client money through the Investor Compensation Fund (ICF).
Assets to Trade
LiteFinance maintains a blog where analysts provide research and trading signals. I like that LiteFinance deploys its proprietary copy trading service embedded within the web-based trading platform. It provides a risk score, all-time percentage-based profitability, how many traders follow the strategy, and the assets under management, as LiteFinance refers to the followed capital of each signal provider. LiteFinance pays strategy providers, adding an attractive revenue stream for successful traders.
Forex Brokers in USA
In general, experienced traders tend to prefer accounts with higher minimum deposits and tighter spreads. At Liteforex this trade-off does not occur as both accounts have low minimum deposits and higher than average trading costs, making them unappealing to experienced traders. Again, at Liteforex this trade-off does not occur as all three accounts have low minimum deposits and higher than average trading costs, making them unappealing to experienced traders.
A CySEC-regulated entity caters to EEA, UAE, and Marshall Islands traders. LiteFinance features a Beginner section on its blog, where it presents educational content featuring dozens of quality articles. https://dreamlinetrading.com/ I recommend traders use it as part of their education before opening an account. LiteFinance maintains a wide range of trading instruments, advertising 145+ on its website, offering 225.