Liteforex is one of the oldest and most reliable Forex brokers in the market. It offers its customers more than 20 currency pairs for trading. Among them are the major currencies, exotic currency pairs, and CFD. Liteforex gives an opportunity to trade on the global forex market with minimal spread and low slippage.
Pros and Cons
Liteforex was established in 2005 and the company is registered in the Marshall Islands. Having over 50000 clients around the world, Liteforex is considered to be one of the most reliable Forex brokers. The organization has offices in various locations.
Liteforex offers the MT4 trading platform. This globally recognized trading platform is considered to be one of the best platforms in terms of functionality, usability, and simplicity. Traders can take advantage of several trading tools, such as trend indicators, built-in Expert Advisors (EAs), and signal services. Users can download this platform from the broker’s website and mobile app stores.
MT5 is an updated version of the well-known MT4 platform. Liteforex offers its clients a new and improved trading platform that has all the features traders might be interested in. It is considered to be one of the best platforms for automated trading with robots and Expert Advisors. MT5 is a cloud-based platform that is compatible with iOS and Android devices.
Liteforex offers its clients three types of trading accounts:
The ECN account is considered to be one of the most popular trading accounts among Liteforex traders. This account has a Standard Lot size which is 0.01, and a leverage of 1:500. A $50 minimum deposit is required to open this account, and there are no charges for withdrawing funds. They also offer negative balance protection and offer an interest of 2.5 percent on the trading account balance.
This account offers a minimum lot size of 0.01 with leverage of 1:500 and floating spreads from 1.8 pips. The broker charges no commission on the trades. A minimum deposit of $50 is required to open this account. Traders who use this account can enjoy all types of the company’s services, including education on trading.
Liteforex provides the following payment methods:
- Credit/debit card (Visa & Mastercard)
- Bank transfer
- and Bitcoin
Users can make deposits and withdrawals with the help of these payment methods. The withdrawals are usually processed within a few hours. The broker also has an automatic withdrawal system that can be used to withdraw funds in the form of various currencies available in the trader’s account.
Liteforex offers its clients an advanced education system that provides traders with valuable knowledge and instructions on how to trade. Beginners can learn the basics by visiting the Education section on their website. The tutorials are in English and offer information on trading tools, ranging from MT4 to mobile platforms.
Contact and Customer Support
Liteforex offers its clients professional customer support in several languages. Traders can contact the company’s representatives via email, phone call, or even chat. The website also offers a knowledge base with FAQs and articles.
The account opening system is quite simple and hassle-free. Traders who want to start trading with Liteforex will have to complete the following steps:
- Open an account
- Make a deposit
In order to open an account, traders have to follow the link provided and fill out the form. The company usually takes a few hours to process the application.
Liteforex is a popular forex broker which provides its clients with reliable technology and high-end trading tools. The firm has a great customer service team that provides assistance round the clock. The deposit/withdrawal process is easy and takes less than 24 hours. The company also offers negative balance protection, an advanced education system, and different types of accounts.