LiteForex Review: Features and Benefits for Forex Traders

LiteForex broker has been around since 2005, making waves in the financial world. They offer solid ways to invest and grow your money. 

Are you wondering whether this firm is the right choice for you? We’re here to help you decide! Keep reading our LiteForex review for more.

LiteForex 101

LiteForex trading firm operates under the umbrella of LiteFinance Global LLC. This is a group of investment companies truly devoted to meeting your trading needs. 

In 2008, LiteForex was launched as a separate project, focusing on FX and CFD markets. And now, LiteForex obligations are brought together under LiteFinance Global LLC. This change is expected to improve efficiency and make trading even more convenient for you.

Is LiteForex Legit?

You’ll be glad to know that this firm is licensed by CySEC under license number HE230122. CySEC is a credible regulatory authority, and most brokers under its supervision have a solid reputation. 

It’s important to note that LiteFinance/LiteForex doesn’t provide services in EEA countries, the USA, Israel, Russia, or Japan. 

Still, know that trading with a reputable broker like LiteForex means you’re in safe hands.

Assets You Can Trade

This trading firm offers an extensive range of markets, including 50+ global options spanning:

• Crypto, 
• CFDs, 
• Forex, 
• Indexes, 
• Metals, and 
• Commodities. 

With such a diverse selection, you have plenty of opportunities to align your strategy with your goals. This can indeed help you trade your way to success.

Note: If you’re exploring other options, beware of Zeta Hedge. They may look legitimate but the reality is different.

Trading Software: LiteForex MT4 and MT5

This business shines when it comes to trading platforms. They earned the ‘best Forex trading tools and software in Africa’ award in 2021, and for good reason. 

You can use popular MT4 and MT5 platforms, as well as a mobile option. Not only can you perform technical analysis, but you can also copy experienced traders and enjoy potential profits. These platforms offer fast execution, with an average trading time of about 50 milliseconds. MT5 is particularly great for expert traders, offering over 180 technical indicators. These options here will truly help you make wise decisions.

Overall Trading Environment

LiteForex stands out by offering competitive costs. Their forex spreads are impressively low, with the EUR/USD pair having a 0.1 pip spread and GBP/USD at 0.6 pips. 

Even less common pairs like AUD/USD maintain a 0.6 pip spread, with USD/JPY at 1 pip. These rates are very optimistic compared to the industry standard. 

While there are slightly higher LiteForex minimum deposits, the improved services and low spreads make it a worthwhile choice. Plus, their commissions and fees are generally lower than other brokers.

The LiteForex login process appears to be relatively straightforward too. 

LiteForex Account Types

What are the LiteForex account types? This company keeps it simple with two options. 

• The Classic account, with a $50 minimum deposit, suits everyday traders. You get access to MT4/5 and social trading, and there’s negative balance protection. This makes sure you won’t end up in debt if the market takes a downturn. The best part? There are no commissions for a classic account, and spreads start at 2.0 pips.
• For more experienced traders, the ECN account is planned for active trading. There are no floating spreads, but a commission starting from $5 applies. Here, you can make infinite trades with negative balance protection, and there is scalping for the ECN account.

Domain Differences

This investment firm operates on a few different websites. Also, there are domains that we cannot connect to them. Let’s take a look:

• LiteForex.com. This is their main site where you can trade forex, stocks, indices, and commodities at lower prices.
• LiteForex.eu. Specifically for European clients, offering similar trading options, but it may be a bit more expensive.
• LiteForex.org. This is not an official LiteForex site, so it’s best to avoid it.
• LiteFinance.com. This belongs to a different firm, LiteFinance, offering similar services, but it’s not connected to LiteForex.

Earning & Withdrawal Options

One downside is the LiteForex withdrawal process, which can be a bit slow. Withdrawal requests are manually processed, and they don’t happen on non-working days. 

This means it can take up to 5 days for withdrawals to complete, or more than 14 days for international transfers. Despite this, you have several withdrawal options to choose from. They include automatic withdrawals, bank transfers, payment systems like Skrill and Neteller, cards, and even crypto coins like Bitcoin, Litecoin, and Ethereum.

Note: Another option worth considering is SuperForex. They provide solid trading experience and are licensed by IFSC.

Customer Support

This company offers multiple ways to get in touch, including live chat, phone, email, and social communities. 

We tested their responsiveness and found that the company provides decent support. This is a guarantee you can get help when you need it.

Trader Reviews on Trustpilot

This FX firm enjoys a solid Trustpilot rating, with more than 65% of reviews being positive. Traders particularly appreciate their withdrawal options and trading platforms. 

The availability of MT4/5 with over 180 technical indicators is a plus. The same goes for responsive support staff who are always ready to help clients grow their portfolios.

However, some people had issues with commissions. So, this may be one disadvantage. 

Tip: Notably, GroupTFM is a suspicious trading firm you better avoid. 

Can I Make Money From Online Trading?

Online trading can indeed be profitable, but knowledge goes first. That is why we want to offer free consultations to assist you in making the best decisions. 

Besides, we provide an AI Analysis Bot designed to simplify research and provide progressive predictions to guide your decisions. By reserving your spot for our upcoming launch, you can enjoy a solid 20-day free trial, including 5 FX analysis reports and 5 stock analysis reports per month. It’s a practical advantage for sure.

Conclusion 

LiteForex is a competitive broker with a UI-friendly approach and cost-effective trading solutions. They offer a wide range of trading assets, versatile account types, and good customer support. 

While withdrawal processing times may be a concern, their overall offering positions them as a broker dedicated to helping traders succeed and make profits.

FAQs