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The financial blog is separately compiled, it publishes informational articles. It is the training material that is not sufficiently posted on the site, but a large amount of analytical data and well-formed forecasts compensate for this. LiteFinance features a Beginner section on its blog, where it presents educational content featuring dozens of quality articles. I recommend traders use it as part of their education before opening an account.
But, it doesn’t mean that MetaTrader 4 is less worthy of use. It is still one of the most popular platforms among successful traders. As mentioned before, the LiteForex is famous for supporting two critical platforms of the MetaTrader 4 and MetaTrader 5 .
Demo Account
The Marshall Islands-registered broker has been in the industry since 2005, and its continued presence shows why it is arguably the first in the list of reliable forex brokers in the world. The review finds this company a key player and a well-established component in the industry. The review also notices that it practices respectful ways of investing capital and generating capital entrance thresholds. It is the first broker to allow the lowest minimum deposits in the market.
While in the Classic account, you wont get any commission added. One lot size is 100 troy ounces for gold and 5000 troy ounces for silver. English, Russian, Portuguese, French, Spanish, Italian, German, and Polish is the operating languages of the website which provides a variety to support that can be found in dealing with languages. MT5, on the other hand has the same features but in an updated and renewed version of MT4 where increased functionality and an enlarged set of tools take place. The platform is available for free download on devices like Windows and MAC PC. For similar tpye ECN account, you may think of trading with Pepperstone.
The support staff is unable to deliver timely results under such conditions. If clients consider trading stocks at the weekends, then there is no customer service at their disposal. As a result, their profit margins get lowered, and the trade profitability reduces by being active only on weekdays. Changes in the standard trade hours are immediately reflected in the broker’s services. A market news trading blog keeps the traders updated on their respective server times.
Deposit/Withdrawal Methods of LiteForex
Every trader is obligated to check the legal status in their respective jurisdiction on their own. Webterminal, on the other hand, is MT4 platform that is completely web based, which means you never have to download or install anything. The trading account is accessed directly from the internet browser. Traders can place their forex and CFDs trades from any device they have available, as no installations are required.
- It facilitates their successful trading with an exclusive economic calendar tailor-made to meet the goals of the clients.
- Also be sure it is normal to upload your ID and residence registration, which happened during the stage of your identity verification necessary due to regulations.
- Lastly, support can also be reached via a UK-registered phone number that is open from 9 AM to 9 PM (GMT+2) Monday to Friday.
- LiteForex also insures all client money through the Investor Compensation Fund .
- Once assigned, clients will have entirely different trading conditions and higher leverage and will belong under different regulatory jurisdictions where the payout is nearly impossible.
- At LiteForex, you may trade major currency pairings and cross rates, oil, precious metals, stock indexes, and blue chips, as well as the widest selection of cryptocurrency pairs.
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. LiteForex‘s mobile broker liteforex trading platforms are average compared to other similar brokers. It offers mobile versions of MT4 and MT5, but no proprietary mobile trading solutions. LiteForex offers an automatic withdrawal feature that enables traders to withdraw funds up to 100 USD per day within 24 hours, which is available on Skrill, Perfect Money, and Neteller.
Rollovers are small fees that the broker charges for holding your position longer than one day, and they’re determined by what instrument you trade. The only thing that’s a bit negative about TD Ameritrade is the spreads they charge on stocks. International trade happens through an offshore entity in the Marshall Islands; there https://forex-review.net/ are also reports of poor customer service experiences from traders. The firm offers very limited payment methods, and none of them is known to us. At the same time, the broker also adds several hidden charges and fee for withdrawals. Earlier i was sammed by IRONFX and that is why i was a bit skeptical with LiteForex.
Is LiteFinance a scam?
Broker offers trading with currency pairs, commodities, indices, and cryptocurrencies. Yes, company provides a Demo account for the MT4 platform so traders can practice investing. Once assigned, clients will have entirely different trading conditions and higher leverage and will belong under different regulatory jurisdictions where the payout is nearly impossible. LiteForex ECN account, on the other hand, has a spread starting from 0.0 pips and a promised return of a minimum of 2.5% annually. However, this account comes with a commission of $5 per lot on currencies other than USD and cryptocurrencies.
The VPS is based on visualization technique and guarantees all resources stated in the price plan will be available for clients anytime regardless of company server. IPhone and iPAD, iOS and Windows users can have them on their mobiles. It provides the facility of real time trades, indicators, tools, charts and time frames, etc. After registration, traders have to provide any further information asked and then select the trading account.
It is not reliable due to the availability of two websites which confuses traders and is not reliable. MetaTrader5 is an advanced version with expert advisors, algorithmic trading and automatic trading. Traders can have these services along with real time trades, tools, charts and other facilities. Traders have to be registered with the firm and be verified by it. The deposits are processed in the company’s Secure Client Cabinet, thus ensuring security of funds.
LiteForex Scam Broker Complaint | LiteForex Review
Anyway, I kept questioning them for this unethical move towards winning their demo contest. I even told them that this happened to a demo contest only, what more if I was already trading a real account. They even accused me of using a lagging EA which they said the reason I was able to determine almost every slippage. This is where these people really proved how stupid they are as you can see every trade on a traders’ history whether one used a EA or not. I even made a bet to them that I will do a live trading just to prove them wrong but they never responded back any longer until this day.
If you have traded with LiteForex and believe you have been scammed by them you have a chance to get your money back. At Broker Complaint Registry it’s our job to make sure you can fight back and get your money refunded. By filling the form you have taken the first step to recover your money. I guarantee that all my transaction was made under conditions and terms, and every holding time period was from a few hours to a few days without any platform loopholes. It’s not ethical that our profit is not given because the profit we gain by predicting correct market direction is all under regulations. It is highest commissions i ever saw , 10$ per lot for majors and 20$ per lot for minors!!!!
Traders who need further assistance can contact LiteForex customer support via live chat which is always convenient. They can also send email to customer support or call them via telephone. The trader’s tools section presents the economic calendar as well as the calculator for calculating potential profits. There you can calculate the possible income from the transaction, taking into account the volume of the lot, spread, leverage, and other parameters. Both platforms support Apple’s Mac and Microsoft’s Windows operating systems. Alternatively, you may trade straight from a web browser through the WebTrader interface.
Dear Ayodeji, LiteForex do not have problmes with deposit and withdrawal. Best regards, representative of LiteForex Investments Limited. They let you deposit money but you can’t use it on MT4 as they want you to upload your ATM cards, back to back, is this even legal at all? My money was stuck, all documents submitteed apart from bank card, and yet you can’t trade as it disabled in MT4.
