While it provides a decent amount of forex pairs, commodities, and indices, there are no share CFDs, cryptocurrencies, or other lower-risk securities like ETFs and bonds. In this review, I tested the MetaTrader 5 platform, which features multiple essential tools, such as one-click trading, an alarm setting option, and a market depth tool. These allow xcritical rezension traders to examine various market developments from different angles and to exploit the underlying trading opportunities in multiple ways. LiteForex incorporates a standard suite of the popular MetaTrader 4 and 5. All the platforms can be used to carry out basic technical analysis and order execution. LiteForex also offers VPS hosting, which can be helpful for automated trading.
Customer Support Channels
The LiteForex site features extensive information about the account types and assets available to buy and sell using its platform. Customer service contact information is prominently displayed for smooth communication with the support team. It should be noted that LiteForex applies a slightly different cost structure to its two account types. The Classic account features 0% commissions with the spreads, including a markup, as outlined above. However, the ECN account, which is aimed at professional and institutional users, charges a flat commission of $5 per round trip per lot. MT5 is arguably best suited for automated trading via its Expert Advisors (EAs) feature.
You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades. 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. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. Brokers operate multiple entities because it allows them to serve clients worldwide.
- Accordingly, the most favorable prices are available when trading FX majors on LiteForex’s ECN account type.
- Clients benefit from advanced analysis, copytrade features and straightforward fees.
- This ensures data privacy and software stability while granting users access to mobile and desktop trading 24 hours a day.
- I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database.
- Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid.
LiteForex’s Mobile App
His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers. We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms.
Customer Support
I discovered that LiteForex’s Classic account features trading costs that are nearly twice as high as the fees on the ECN account. The latter offers slightly more competitive prices than the typical STP account, but it falls behind the typical ECN account type. Download MetaTrader 4 trading platform for your smartphone or computer and get access to the Forex market from wherever in the world. Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more.
LiteForex Europe has an extensive mobile app offering, consisting of not only the MetaTrader apps but also the broker’s own apps tailored to forex signals, analysis, and strategies. LiteForex’s research content gives traders a multifaceted overview of the xcritical state of the market and provides them with actionable trading signals. I concluded that the broker’s research content caters to the needs of day traders and swing traders.
How do I deposit funds in a LiteForex account?
LiteForex has a track record of more than 15 years in the online brokerage industry with offices in jurisdictions worldwide. LiteFinance organizes exciting Forex contests with real cash prizes for both experienced and novice traders. These contests are accessible via demo accounts or real trading accounts, and they offer a chance to win cash prizes that can be used for further trading or withdrawals. The contests are designed to scammed by xcritical accommodate traders at all levels of expertise. Forex traders focused primarily on major and exotic currency pairs will benefit from competitive spreads and a transparent fee structure while using the industry-standard MetaTrader platform.