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LiteForex Review

Author By Jeffrey Cammack
Updated: September 23, 2021
Overall Rating
4.12 4.12 / 5
Rated #30 of 66 Recommended Brokers
Min. Deposit
USD 50
Regulators
Trading Desk
Trading Cost
USD 10
Website Language
English
Support Language
English
AlertAccepts UK Clients. Average spread EUR/USD 0.00 pips on trading account with lowest minimum deposit of 50 USD. Max leverage 30:1. Islamic account available. MT4/MT5 platform supported. LiteForex is regulated by CySEC.

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Summary

Liteforex is a CySEC-regulated broker with a wide range of CFDs.  A market maker with ECN account options and impressive copy trading functionality, it offers full support for the MT4 and MT5 platforms.

LiteForex offers two live account options: An ECN Account with competitive trading conditions, and a more costly Classic Account with wide spreads.  The minimum deposit is 50 USD, and while beginner traders will find better educational content at other CFD brokers, the market analysis section features regularly updated content for traders of all experience levels. 

Reviews

Regulation
1110.503.5/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
1110.503.5/ 5
Assets Available
111104/ 5
Customer Service
11110.54.5/ 5
Beginner Friendly
Excellent
Bonuses

Account Information

Base Currencies
AUD, EUR, GBP, NZD, USD, CHF, CAD
Number of FX Pairs
56
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Acct

Trading Conditions

Min. Spread
0.10 pips
Commission
10 USD / lot - ECN Account
EUR/USD
0.1 pips
GBP/USD
0.1 pips
USD/JPY
0.1 pips
Max. Leverage
30:1

Company Details

Company Name
LiteForex Investments Limited
Founded
2005
Office Locations
Kyrgyzstan, India, Nicaragua, Vietnam, Indonesia, Nigeria, Thailand, Tanzania, Philippines, Kenya, Ghana, Afghanistan, Myanmar, Uganda, Iran

Pros

  • Great platform choice
  • Fast and free withdrawals
  • Copy trading accounts

Cons

  • Wide spreads
  • High commission

Is LiteForex Safe?

LiteForex was founded in 2005, is headquartered in Cyprus, and is regulated by the Cyprus Securities and Exchange Commission (CySEC)  in accordance with Markets in Financial Instruments Directive (MiFID).  See below for its registration:

  • Liteforex (Europe) Limited, is registered as a Cyprus Investment Firm (CIF) with the registration number HE230122 and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 093/08.

LiteForex insures all clients’ funds through the Investor Compensation Fund.  It offers negative balance protection on all accounts, converting losses to a zero balance so that the client is never indebted to the Company.

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Inactivity Fee
CySEC
Market Maker
2005
Kyrgyzstan, India, Nicaragua, Vietnam, Indonesia, Nigeria, Thailand, Tanzania, Philippines, Kenya, Ghana, Afghanistan, Myanmar, Uganda, Iran
Overnight rollover fee

 

Trading conditions

LiteForex offers two live accounts – the Classic and ECN, and an unlimited demo account.  Variable spreads start at 2.0 pips on the commission-free Classic Account, and a 10 USD commission is charged on major pairs for the ECN Account – though spreads can get down to 0 pips. LiteForex is also a Market Execution broker, offering full support for the industry-standard MetaTrader4 and MetaTrader5 platforms. It allows hedging and scalping, and offers an excellent copy trading service.

LiteForex charges a fee of 3 EUR per month for accounts that remain inactive.

Liteforex also offers Islamic Swap-Free accounts; however, it does not consider swaps when a position is carried over to the next day. 

Classic Account

The Classic Account was designed for experienced traders.  Its variable spreads average at 2.0 pips and leverage is high, at 30:1.  Classic Accounts only allow base currencies to be denominated in USD, EUR, GBP, and PLN.  The minimum deposit on this account is 50 USD, and transactions start at 0.01 lots.  Support is offered for the MT4 trading platform, and Stop Out levels are at 50%.  Commissions only apply to cryptocurrency trading, at 12 USD per lot. 

ECN Account

LiteForex offers an ECN, which means there is no dealing desk or conflict of interest. The trading account provides access to the best prices on the market, and variable spreads start at 0.00 pips with no re-quotes.  Leverage is up to 30:1, the minimum deposit is 50 USD, and LiteForex charges 10 USD/lot per side.  Traders can only make use of the MT4 platform on this account. 

Demo Account

LiteForex demo accounts provide the opportunity for traders to trade virtual money under real market conditions.  Demo accounts are free of charge and allow beginner traders to refine trading strategies using the MetaTrader platform.  Traders receive real quotes from liquidity providers and have access to all trading instruments.  

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Account Types
Min. Deposit
Max. Leverage
Min. Spread
Commission
ECN
USD 50
500:1
0.0
From 5$ per lot
Account Details
Standard
USD 50
500:1
1.80
None
Account Details

Spreads and Commissions

Fees for the Classic Account are included in the spreads, which start at around 2.0 pips.  The ECN Account boasts variable spreads that average at 0.00 pips, but it charges a commission of 10 USD/lot per side on major pairs and 30 USD/lot per side on minor trading pairs. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
11110.54.5/ 5
AUD, EUR, GBP, NZD, USD, CHF, CAD
0 pips
USD 10
0.1 pips
0.1 pips
0.1 pips
10
11110.54.5/ 5
USD, GBP, EUR, AUD, CHF, JPY, PLN, ZAR
1.40 pips
USD 14
1.9 pips
2.4 pips
1.6 pips
0.0
11110.54.5/ 5
USD, EUR, DKK, SEK, EUR
0.60 pips
USD 6
0.6 pips
0.8 pips
0.7 pips
0.0

 

LiteForex Spreads

Deposits and Withdrawals

LiteForex does not charge fees for deposits or withdrawals, but accounts are only denominated in USD, EUR, or MDT. In line with the Anti-Money Laundering Directive, Liteforex operates a “return to source” policy, meaning that withdrawals must be made via the same method and into the same account as the original deposit.  Deposit and withdrawals are commission-free.  See below for a list of methods:

  • Mastercard: Orders are processed within two to five days.
  • Credit/Debit Card: Deposits are instant and withdrawals can take three to five days.
  • Neteller: Deposits and withdrawals are instant.
  • Skrill: Deposits and withdrawals are instant.
  • Bank Wire Transfer: Both deposits and withdrawals are processed within two to five days.

LiteForex Deposist and Withdrawals

 

Bonus Structure

LiteForex provides its clients with withdrawable Forex bonuses.  At the time of writing this review, current promotions include a 100% Forex deposit bonus. Follow the LiteForex news or stay in touch with its support team to find out more about bonuses and promotions.

LiteForex for Beginners

LiteForex offers a limited selection of educational materials for beginner traders, but their extensive analysis section covers fundamental and technical analyses across a range of currency pairs. A bonus is that one does not have to be a LiteForex Trading client to access this material.

Educational Material

LiteForex’s educational suite includes archived webinars, a glossary of terms, and an extensive blog with topics for beginners and experienced traders alike.

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Broker
Beginner Course
Advanced Course

 

Analysis Materials

LiteForex provides up-to-date reviews and forecasts for all market instruments.  Its fundamental analysis consists of daily news on significant political and economic events that impact the world markets. In-house analysts and traders produce all forex fundamental analytical reports.  LiteForex also provides its clients with a free high-quality analysis prepared by an independent Company, Claws&Horns.

Customer Support

LiteForex offers customer support 24/5 via email, telephone, and live chat.  One has to register an account to access the service. For the purposes of this review, we found the customer support to be slow and sometimes unresponsive. 

Trading Platforms

LiteForex offers support for the MetaTrader platforms – MT4 and MT5.  Developed in 2005 and 2010 respectively, these systems have become the leading platforms for online forex and CFD trading. They come with multiple chart types, including line, candlestick, and bars.

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Broker
Platform Choice
Copy Trading
Platforms
11110.54.5/ 5
111115/ 5
FxProEdge
11110.54.5/ 5
Cloud Trade

 

MetaTrader 4

MT4 is still the most popular platform on the market. Its beginner-friendly elements, such as a copy trading system and automated Expert Advisor apps, come in handy for less-experienced traders. Advanced traders can take advantage of complex analytics and charting tools. Moreover, they can design their own trading indicators using the proprietary MQL4 programming language.

NAGA MT4

 

MetaTrader 5

LiteForex offers support for the MT5 platform, the latest iteration of the industry standard MetaTrader.  It offers 30 technical indicators, 24 analytical objects, 21 timeframes, and an unlimited number of charts.  The application also supports both netting and hedging systems and includes all the tools and features necessary for trading: Market Depth, trading operations, and history monitoring. 

Mobile Apps

MetaTrader is freely available on both Android and IOS mobile phones and tablets.  The advantage of using the MetaTrader platform is the cross-device and multi-broker functionality, making it easier to change broker or use multiple brokers.  All applications and their contents are supported in more than eight languages and are regularly updated.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of how we review LiteForex’s product offering. Central to that process is the evaluation of the broker’s reliability, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

LiteForex’s Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. LiteForex would like you to know that:  Trading on financial markets carries risks. Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and taking into account your investment objectives and level of experience. Click here for our full Risk Disclosure.

Overview

Overall, Liteforex is a legitimate broker with a good range of tradeable forex and CFD assets, in addition to support for both the MT4 and MT5 platforms.  It is CySEC-regulated in accordance with Markets in Financial Instruments Directive (MiFID).  

Trading conditions are competitive on one of its live accounts, and beginner traders will benefit from its copy-trading system and unlimited demo account.  Education is limited, but an up-to-date fundamental and technical analysis across a range of currency pairs is offered daily.

AlertAccepts UK Clients. Average spread EUR/USD 0.00 pips on trading account with lowest minimum deposit of 50 USD. Max leverage 30:1. Islamic account available. MT4/MT5 platform supported. LiteForex is regulated by CySEC.
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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Acct
Trading Platforms
Funding Methods
Trading Commission
11110.54.12/ 5
USD 50
Market Maker
Equities
Forex
WTIs
Cryptocurrencies
56
19
  • Great platform choice
  • Fast and free withdrawals
  • Copy trading accounts
  • Wide spreads
  • High commission
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
1110.503.5/ 5
111104/ 5
11110.54.5/ 5
81% of retail investor accounts lose money when trading CFDs with this provider
30:1
0.10 pips
ECN
Standard
Bank Transfer
Mastercard
Visa
Neteller
Skrill
10 USD / lot - ECN Account
11110.54.24/ 5
GBP 100
Market Maker NDD
Forex
Indicies
Metals
Equities
Energies
Futures
70+
5
  • Well regulated
  • Great platform choice
  • Tight spreads
  • Limited education
111104/ 5
11110.54.5/ 5
111115/ 5
111115/ 5
1110.503.5/ 5
1110.503.5/ 5
111104/ 5
77% of retail investor accounts lose money when trading CFDs with this provider
30:1
0.60 pips
FxPro cTrader
FxPro MT4
FxPro MT5
Islamic
FxProEdge
Bank Transfer
Visa
Mastercard
Maestro
Skrill
Neteller
Unionpay
9 USD / lot
11110.54.05/ 5
GBP 5
Market Maker
Forex
Commodities
Energies
Bonds
Metals
Equities
Futures
33
0
  • Tight spreads
  • Limited account options
  • Limited demo account
  • No swap-free account option
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
110.5002.5/ 5
1110.503.5/ 5
1110.503.5/ 5
57.1% of retail investor accounts lose money when trading CFDs with this provider
30:1
0.60 pips
Cloud Trade
Bank Transfer
Visa
Mastercard
Skrill
Fees Included in Spread
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