The smart interface is packed with custom tools to boost advanced trading techniques, including over 50 built-in indicators and graphical objects. 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. Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political xcritical affairs.
- I recommend traders evaluate LiteFinance as a new broker with limited experience and dismiss any goodwill and trust LiteForex created over 15 years.
- Chris has a keen eye for editing and a voracious appetite for financial and political xcritical affairs.
- Overall, Liteforex is a dependable, CySEC-regulated broker with two low-deposit accounts that are suited more to beginners than experienced traders on the MT4 and MT5 platforms.
- However, these costs are still above those of other good brokers, which have trading costs of 9 USD per lot traded.
- LiteForex‘s mobile trading platforms are average compared to other similar brokers.
For the most part, the registration process for other top-tier brokers is pretty much standardized, and the signup process for these two separate entities should not be that different. However, it should be noted that this broker offers MT4, which is available for iOS, and previously, Apple had banned MetaTrader from its App Store. Unfortunately, you cannot delete an active account in your client profile.
They come with multiple chart types, including line, candlestick, and bars. Other popular features include Expert Advisors, automated trading support, strategy backtesting, customisable charting, indicators, xcritical reviews and copy trading functionality. LiteForex offers a limited number of payment methods, and while LiteForex charges no commissions on deposits, it charges fees for most withdrawal methods.
RISK WARNING
Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders. In addition to the MetaTrader 4 and Metatrader 5 platforms, LiteForex also offers a user-friendly https://xcritical.solutions/ proprietary copy trading platform. The automated copy-trading system allows traders to duplicate the best trades, trade independently, share information, and communicate with their signal providers. It also offers VPS hosting at a cost of 15 USD per month in addition to free independent market news and analysis from third-party provider, Claws & Horns.
FxPro vs. HF Markets
LiteForex has been an online broker for almost two decades as they began operating in 2005. They hold a brokerage license with CySEC and operate throughout the globe providing ECN forex trading and CFD trading in the form of commodities, stocks, indices, and crypto. Overall, trading costs at LiteForex are higher than average on both account options. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. LiteFinance caters to most international traders, including the UK, the Philippines, Malaysia, and Nigeria.
Best Forex Trading Indicators Every Trader Should Use
With LiteForex, a demo account allows use of most of the features of a trading account and the trading platform without the need to cancel any subscription or pay any upfront deposit. Remember that MetaTrader has been considered the industry standard when it comes to trading platforms for both retail traders and professional investors. The platform has been around since 2005; this broker might not be providing info on it because they think it is common knowledge. Here on PipPenguin, we have also covered MetaTrader 4 and 5 in many of our articles, so we will not be covering specific details on it. LiteForex gives customers the opportunity to practice trading without risking their hard-earned money. A demo account serves as a training account, which new clients can use to learn more about trading strategies and improve their trading skills.
The apps come with the same features as their desktop counterparts and allow for full-fledged technical analysis with custom charting tools and trade execution capabilities. Overall, tighter spreads and cheaper commissions are offered at other brokers, such as XM. LiteForex Europe’s advanced trading solution is the MT5 platform, designed with the professional trader in mind.
Spreads on these accounts are often wider than those with higher minimum deposits. Both Liteforex’s accounts have a minimum deposit of 50 USD, making them accessible to beginner traders. LiteForex offers two account types, which is average when compared to other brokers, and the accounts are more suitable for beginners than experienced traders. 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.