You can download MetaTrader 4 in the «Trading Platforms» section of your broker’s website. To install the platform, double-click on the downloaded file «litefinance4setup.exe». Choose a directory for installing the program and follow the installation program tips. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. The non-EU entity, LiteForex Investments Limited, is based in various locations around Asia and the Middle East, including Thailand, Vietnam, Malaysia, Kenya, Nigeria, and Iran. LiteForex (Europe) does not offer any promotions, including no deposit bonuses.
Main Benefits of Trading with LiteFinance
The MT4 and MT5 platforms also use Secure Sockets Layer encryption protocols and extended layers of security if required. Since starting in 2008, LiteForex Europe Limited has earned a strong global reputation, with over half a million clients. The company is registered as a Cyprus Investment Firm (CIF) and regulated by the Cyprus Securities and Exchange Commission (CySEC). Online registration merely requires an e-mail address or phone number and scammed by xcritical a password. Since LiteFinance claims to adhere to AML regulations, verification is mandatory.
The present choices will leave traders with an incomplete and sub-standard experience unless they are willing to invest in upgrades. However, the broker generally charges high trading fees on its Standard account and provides extremely limited instrument offering of about 70 assets. LiteForex offers robust research content catering to the needs of novices and experienced traders alike. The broker offers market breakdowns developed in-house and also incorporates content from Claws&Horns. Additionally, MetaTrader 5 has an intuitive mobile app, which helps traders stay connected to the global capital markets even on the go.
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Most apps suffer from the same underlying problem – having to compress complex data on low-resolution devices, which usually makes it quite difficult to discern. But LiteForex’s app retains the web trader’s sophisticated look and feel. It is a great tool for making quick trading decisions, as it incorporates comprehensive research materials and tools.
Are LiteForex’s Fees Competitive?
Traders can access LiteForex’s copy trading environment from the ‘Investing’ section of the website. The performance of all the available trading strategies is presented in the ‘Traders Ranking’ subsection. My findings indicate that the broker charges average-to-high swaps compared to the industry average. This combination is not particularly suitable for longer-term trading strategies (swing trading and position trading). Broken down by asset class and compared to the industry average, LiteForex charges high spreads on instruments across all asset classes for the Classic account. The raw spreads from 0.0 pips on the ECN account are much lower and generally fall below the industry average.
LiteForex’s Mobile App
- The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) in EUR/USD with a pip value of $10 for each account.
- I appreciated their diversity and sharp focus on technical analysis, fundamental analysis, and trading psychology.
- Founded in 2008, LiteForex is a forex and CFD broker based in Cyprus, authorized by CySEC.
- The non-EU entity accepts traders from a range of countries, including Iran, Myanmar, Nigeria, Indonesia, Thailand, Malaysia, Vietnam, the Philippines, Uganda, Ghana and Kenya.
LiteFinance frequently updates its bonus campaigns to provide ongoing opportunities for traders. Traders can choose between the Classic or ECN account at LiteForex Europe. The main difference between the two accounts is that tighter spreads come with the ECN option, plus scalping capabilities and access to the social trading platform. The broker offers its proprietary platform with versatile charts from Trading View and also incorporates MetaTrader 4&5. Clients of LiteForex can also use its VPS offering for low-latency trading and engage in copy trading. Another advantage of LiteForex is its robust and extensive supporting content.
LiteForex Europe’s advanced trading solution is the MT5 platform, designed with the professional trader in mind. The platform boasts dozens more technical indicators than its predecessor, 21 timeframes, and a full set of order types. In addition, traders can take advantage of the economic calendar and depth of liquidity tool. Traders will conduct all financial transactions from the secure back office of LiteFinance.
I also concluded that LiteForex is pretty upfront about its trading fees. Furthermore, the costs mentioned on the website match the live quotes on the platform. All content on this site is for informational purposes only and does not constitute financial advice. Consult relevxcritical professionals in your country of residence to get personalized advice before you make any trading or investing decisions. DayTrading.com may receive compensation from the brands or services mentioned on this website.