In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation. LiteFinance Global LLC does not provide services to residents of the EEA countries, USA, Israel, Russia, and some other countries. Discover potential scenarios of cryptocurrency industry development. Raw spreads from 0 points, the best liquidity providers, and ECN technologies make it profitable to trade with LiteFinance. LiteFinance is an unregulated Forex and CFD broker operational since 2021 out of St. Vincent and the Grenadines, with a subsidiary regulated in Cyprus.
- I appreciated that the materials are supported with tests to help the reader solidify what has been learned.
- Contracts for difference (CFDs) are derivatives used to speculate on the underlying asset’s price without physical delivery.
- Discover potential scenarios of cryptocurrency industry development.
- However, the broker charges higher commission rates on instruments from other asset classes.
- Learn the basics and practice on a demo account with virtual money.
Furthermore, the costs mentioned on the website match the live quotes on the platform. Its license from CySEC is easily discoverable on the website, and traders can verify it fairly quickly. I also went over the broker’s legal documents and assessed that everything was in order. Its Client Agreement is exhaustive and written in easy-to-understand language.
Demo Account
On the one hand, the broker should be praised for offering plenty of minor forex pairs, such as USDTRY, USDMXN, and GBPSEK. While it provides a decent amount of forex pairs, commodities, and indices, there are no share CFDs, cryptocurrencies, or other lower-risk securities like ETFs and bonds. As shown above, the problem with MetaTrader is that the charts can be crowded quite easily, even when we add no more than 2 indicators. This obscures price action behavior and makes it more difficult to conduct probing technical analysis. 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 scammed by xcritical type offers more competitive trading fees.
For low-latency algorithmic trading, clients of LiteForex can take advantage of the broker’s VPS offering, affording execution speeds of below 2 milliseconds. We’ll explore the account types, trading assets, commission, spreads, trading platforms, investment options, copy trading, payment options, and many more in this LiteFinance review. With ECN account types and automatic withdrawals, there are some good aspects to it. The commissions are a bit expensive though, making its offerings less attractive to seasoned traders. Market breakdowns developed in-house by LiteForex, and available from the website with free access to everybody.
Is LiteForex Safe to Trade With?
Agents respond fairly quickly to queries and have a basic understanding of LiteForex’s services. In my opinion, MT5 is a good option for fast and simple order execution. On the other hand, its dated and rugged design falls short compared to newer, sleeker platforms. As a trader who prioritizes flexible chart scaling, I find MT5’s charting capability too rigid and less effective. 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.
My Key Takeaways After Testing LiteForex’s Mobile App
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. Traders can use the built-in economic calendar, which is xcritical scam 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. Compared to the industry average, LiteForex offers an average amount of forex pairs and commodities, and a high amount of indices.
Does LiteForex provide VPS?
The market reviews are detailed and multifaceted containing aspects of economic analysis, fundamental analysis, and technical analysis. I appreciated that each article outlines emerging trading setups on multiple instruments. I performed my tests on a Classic trading account using the desktop versions of MetaTrader 5 and the broker’s proprietary platform.