Written by It supports the MetaTrader 4 and 5 platforms and offers VPS hosting for low-latency trading. An easy-to-use dedicated trading platform provides a comprehensive analytical toolkit and suits any trader regardless of experience. LiteFinance does not provide any of the necessary third-party add-ons to unlock the full functionality of MT4/MT5 and improve the trading environment.
Most traders will deal with the primary unregulated brokerage from St. Vincent and the Grenadines. A CySEC licensed subsidiary exists for the EEA, the UAE, and the Marshall Islands traders. The brokerage operating from St. Vincent and the Grenadines remains unregulated. A CySEC-regulated entity caters to EEA, UAE, and Marshall Islands traders. 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.
Comparing LiteForex fees with other brokers
Market breakdowns developed in-house by LiteForex, and available from the website with free access to everybody. The market reviews are detailed and multifaceted containing aspects of economic analysis, fundamental analysis, and technical analysis. I appreciated that each article outlines emerging trading setups on multiple instruments.
Copy-trading system: even beginners can succeed in trading from the first day
To install the platform, xcritical website double-click on the downloaded file “litefinance4setup.exe”. Choose a directory for installing the program and follow the installation program tips. 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. A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight.
He earned a Bachelor’s degree in Economics and International Relations. Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers. The customer onboarding process employed by this brokerage is simple, with users offered the option of signing up for a demo account that is compatible with MT4 and MT5. Depositing and withdrawing funds is also straightforward and should pose no difficulties to traders regardless of their experience level. The broker offers its proprietary platform with versatile charts from Trading View and also incorporates MetaTrader 4&5.
- An easy-to-use dedicated trading platform provides a comprehensive analytical toolkit and suits any trader regardless of experience.
- Liteforex (Europe) Ltd provides services only to the residents of countries from the European Economic Area (EEA), the United Arab Emirates (UAE), and the Marshal Islands.
- It is generally satisfied by a copy of the trader’s ID and one proof of residency document.
- My findings indicate that the broker charges average-to-high swaps compared to the industry average.
- The web-based trading platform allows a $10,000 demo account without registration, a convenient method to get familiar with its functionality.
LiteFinance Web Platform
Chart artists use many analytical tools and chart configuration possibilities to examine it from multiple angles. In my experience, the really important aspect of a chart is how easy it is to scale price action up and down. LiteForex incorporates a standard suite of the popular MetaTrader 4 and 5. It also has a proprietary platform with charts powered by TradingView.
The performance of all the available trading strategies is presented in the ‘Traders Ranking’ subsection. 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. This obscures price action behavior and makes it more difficult to conduct probing technical analysis.
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. I like that LiteFinance deploys its proprietary copy trading service embedded within the web-based trading platform. LiteFinance pays strategy providers, adding an attractive revenue scammed by xcritical stream for successful traders. Where LiteForex excels is in the trading tools offered for free by the broker. All these tools are useful when trading and provide some assistance to traders, increasing their potential accuracy when making trading decisions.
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