Even though, there were numerous claims and complaints from the global traders presenting an impressive collection of issues that were faced during the trading experience they had. Our research showed that the broker offers a wide range of funding methods, while some of them include fees others are free of charge. Also, money transfers to or from the account depending on your residency and its applicable policies, in addition to entity rules of LiteForex that apply. Download MetaTrader 4 trading platform for your smartphone or computer and get access to the Forex market from wherever in the world.

Mobile Trading Platform

The ECN account offers generally more favorable conditions, though traders should mind the commission rate. Coupled with its raw spreads starting from 0.0 pips, this combination on the ECN account is generally better than the industry average. However, the broker charges higher commission rates on instruments from other asset classes. MT5 is arguably best suited for automated trading via its Expert Advisors (EAs) feature. The platform also has an intuitive strategy tester, allowing experienced algo traders to tweak the parameters of their strategies so that they can be used under different market conditions. For low-latency algorithmic trading, clients of LiteForex can take advantage of the broker’s VPS offering, affording execution speeds of below 2 milliseconds.

The market is continually evolving, marked by periodic surges and declines in volatility. For this reason, staying on top of the latest market developments is crucial, a task made simpler through the mobile app version of LiteForex. Overall, LiteForex is deemed suitable for novice traders, day traders, and those interested in algorithmic trading.

My Key Takeaways After Testing the MetaTrader 5 Platform

However, the broker generally charges high trading fees on its Standard account and provides extremely limited instrument offering of about 70 assets. Additionally, MetaTrader 5 has an intuitive mobile app, which helps traders stay connected to the global capital markets even on the go. My findings indicate that the broker charges average-to-high swaps compared to the industry average.

In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. Its license from CySEC is easily discoverable on the website, and traders can verify it fairly quickly. I also went over the broker’s legal documents and assessed that everything was in order.

LiteForex Account Opening Process

It supports the MetaTrader 4 and 5 platforms and offers VPS hosting for low-latency trading. Mobile trading platforms for both iOS and Android with alerts, push notifications and full control over your trading account are also included in the package. Furthermore, the platforms are enhanced with automated trading and social trading capabilities with no restrictions on strategies, also additional complex order types. Even though, the standard account spread might be slightly high compared to other industry proposals yet always be sure to see all the trading offerings so even a relatively high spread might be still a good deal. Both of the trading platforms is compatible with Windows PC, MAC and mobile devices such as Android phone, tablet, iPhone and iPad.

MetaTrader 4

1. We marked that the broker took all the necessary steps to improve the trading experience and provide transparent conditions after traders’ complaints.
2. 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.
3. So, in our final thought, we can say that despite the problems the broker has had before, the broker has made a turnaround with their trading conditions, now providing better transparency and security.
4. These allow traders to examine various market developments from different angles and to exploit the underlying trading opportunities in multiple ways.
5. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

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.

Open a trading account

The latter offers slightly more competitive prices than the typical STP account, but it falls behind the typical ECN account type. Liteforex (Europe) Ltd is regulated in Cyprus by CySEC, and LiteFinance Global LLC is unregulated. I discovered that the European entity of the broker adheres to all essential safety requirements, such as ensuring negative balance protection and a compensation scheme.

This is xcritical only true for withdrawals, as the broker reimburses its clients for any processing fees incurred when depositing. Generally, only the $10 commission on FX Majors falls below the industry average. Accordingly, the most favorable prices are available when trading FX majors on LiteForex’s ECN account type. I did not discover any major discrepancies, and all essential safety information is readily available.

Its Client Agreement is exhaustive and written in easy-to-understand language. Based on our research, LiteForex gives its clients access to 56 currency pairs, as well as 6 valuable metals, 16 cryptocurrencies, 37 CFDs, and 11 Global stock indexes. A simple program built specifically for a manager who manage investor fund across multiple accounts. It fast and easy to use because of the interface is similar to MetaTrader. In my estimation, LiteForex is a good choice xcritical courses scam for those interested in casual trading. Namely, beginners with little or no trading experience are interested in lxcriticalg more about trading and developing a robust trading system.

LiteForex offers 31 educational lessons available from the client area. I appreciated that the materials are supported with tests to help the reader solidify what has been learned. They contain lots of practical insights, e.g. how to use intraday trading strategies, Fibonacci retracements, etc. 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.

Thus, I concluded that LiteForex’s customer support is good but could be improved. When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are. LiteForex offers multilingual support available 24/5 via live chat, email, and phone. Agents respond fairly quickly to queries and have a basic understanding of LiteForex’s services. LiteForex’s platform is much more fluid in comparison to MetaTrader, especially its charts, which are powered by TradingView.