Available in 22 languages, the MT4 and MT5 mobile apps are suitable for iOS and Android (APK) smartphone and tablet users. LiteForex offers a free demo account that helps to learn trading strategies without the risks of losing money. LiteFinance offers its own mobile trading application, available from Google Play and the App Store. The application offers access to 190 instruments, over 100 graphical tools, and 75 indicators.
LiteForex Trading Platform – Conclusion
The much-awarded international online broker facilitates trading in a wide variety of instruments—trade in Forex, CFDs, indices, shares, commodities, and cryptocurrencies. LiteFinance offers a safe and secure platform and the site is protected with firewalls and isolated servers. LiteFinance recommends a VPS to manage trades whilst users’ gadgets are switched off. It is not reliant on an internet connection or power supply and offers a degree of security to web traders.
The LiteForex website and trading platforms are available in English in addition to 14 other languages. Trade in the leading MetaTrader 4 and MetaTrader 5 platforms along with mobile apps catering to both android and iOS systems. The website is easy to navigate, support is easily accessible and there are multiple free analysis tools. The LiteFinance brand is largely inclusive and despite its international presence, remains tailored to individual markets. Note, LiteForex (Europe) xcritical cheating Ltd operates as a separate broker offering trading services to clients from Europe only.
Since rebranding, LiteFinance lacks transparency across its 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. A combination of in-house research and third-party analytics by Claws & Horns offers traders comprehensive market coverage and trading ideas. LiteFinance maintains a blog where analysts provide research and trading signals. 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.
I concluded that the broker’s research content caters to the needs of day traders and swing traders. LiteForex offers two retail account types – Classic and ECN – both with a minimum deposit of $50. Traders can choose between EUR, USD, GBP, and PLN as a base currency. Swap-free trading is available via the broker’s Islamic accounts.
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. LiteForex also does not charge a handling fee for withdrawals, but external fees may apply. 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.
My Key Takeaways After Testing LiteForex’s Mobile App
LiteFinance offers a free demo account which is a great way to get to grips with the broker, and its platforms, risk-free. The sign-up process is straightforward and an account can be opened in under a minute. LiteFinance notes a 30% deposit bonus for the Classic account, where trading costs are 80% higher than its ECN account. LiteFinance offers three partnership programs, but limited information exists.
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.
LiteForex Trading Terminal – Top Features
- It facilitates technical analysis by providing an overview of price action behavior.
- By offering numerous options for money deposits and withdrawals, updated technology keeps LiteForex Web Trading Platform ahead of the highly competitive broking industry.
- Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry.
- LiteForex Trading Platform Account types offered are STP and ECN along with DMA.
- I caution beginner traders about using a demo account as an educational tool.
LiteFinance caters to most international traders, including the UK, the Philippines, Malaysia, and Nigeria. Like most international brokers, LiteFinance does not accept traders from the US. They contain lots of practical insights, e.g. how to use intraday trading strategies, Fibonacci retracements, etc.
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. Incorporated from Claws&Horns, the trading signals represent actionable trading opportunities.
They are divided into beginner, intermediate, and advanced categories. I appreciated that the materials are supported with tests to help the reader solidify what has been learned. Compared to the industry average, LiteForex offers an average amount of forex pairs and commodities, and a high amount of indices. Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders must familiarize themselves xcritical with the safety mechanisms ensured by the entity they want to open an account. The online platform designed by LiteFinance is a one-stop trading system that provides a trader with all necessary tools and does not require installing.
Educational Content
I find the deposit and withdrawal methods sufficient for most traders and appreciate the inclusion of cryptocurrencies. Equity traders get access to large-cap names trending on social media. They are suitable for most retail traders, but seasoned traders require higher quantities.
LiteForex offers multilingual support available 24/5 via live chat, email, and phone. Agents respond fairly quickly to queries and have a basic understanding of LiteForex’s services. The market is continually evolving, marked by periodic surges and declines in volatility. For this reason, staying on top of the latest market developments is crucial, a task made simpler through the mobile app version of LiteForex. 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.
Online registration merely requires an e-mail address or phone number and a password. Traders may also sign-up through their Google or Facebook accounts. Since LiteFinance claims to adhere to AML regulations, verification is mandatory.