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LiteForex Review 2020 – Should Trade or Not? LiteForex is a 2005 trading website which started its operations in the Marshall Islands. The company is a regulated trading firm and offers several products and services for trading.
It includes shares, metals, crypto, indices, commodities, and foreign currency pairs. Further, the broker also offers services like a free and unlimited demo account, low minimum deposits, high leverage, and range of trading platforms.
The user experience is comfortable, and the portals are smooth. The payment can be made via different methods, and the deposit is free.
The article will briefly do a LiteForex broker review. It shall list the prominent features of the broker and discuss them.
Features of LiteForex Broker
The LiteForex broker has two offices and is regulated under the top financial bodies of the world. One office at Marshall Island works under Marshall Islands Business Corporation Act. And, the other branch is at Cyprus and registered with CySEC (Cyprus Securities & Exchange Commission) with the license number 093/08.
The broker is also a member of the Investment Compensation Fund (ICF) which protects the users in cases like bankruptcy.
Both the financial bodies have specific rules & regulations for their brokers. However, the Marshall Islands have loose and flexible rules as compared to the Cyprus branch. The customers’ interest is kept at priority, and their funds are insured up to 20,000 Euros.
Further, the users’ money is also kept in different segregated accounts in top banks. The broker also abides by the Anti Money Laundering policy, which requires all its consumers to verify their identity.
In total, the broker is regulated and a member of several authorities. A trader’s money is safe, and one can trade with them securely.
LiteForex broker offers many trading platforms to its users. These platforms help the clients to buy and sell the financial instruments without any hassle in the way. There are three platforms with the broker, namely, MetaTrader 4, LiteForex Social Trading, and MetaTrader5.
Users get some fantastic features with these three. Some of them are daily analysis, account management, pending orders, nine-time frames, drawing tools, and many more.
These all are accessible through mobile, web, and desktop.
The users have three options to contact the LiteForex customer support team, namely, phone, live web chat, and email. However, the fastest way to reach them is web chat. Also, you can request a response back by filling the Liteforex broker contact us form page.
The technical team works 24 hours a day and the support team works 09:00 to 18:00 GMT, Monday to Friday.
The team is smart and polite in resolving the queries and supports multi-languages. There is a dedicated FAQ page for users to answer their most common questions. Further, the team’s average response time was less than a minute.
Deposits & Withdrawals
The Liteforex broker offers several methods to deposit and withdraw funds to its users. There is no charge to deposit money but some fee on withdrawals. Some of the payment methods are Skrill, Neteller, China Union Pay, PostePay, and Carte Bleu. Further, the users also have the option of paying through bank transfers and credit/debit cards.
The minimum transaction amount to start trading varies as per the account type and starts from $10. The charges also depend on the type of account, such as 3.5% on cards.
Also, the processing time takes 3-5 working days, and the system was smooth and understandable for everyone.
Note that the broker also accepts crypto payments.
The broker offers several trading financial instruments from different markets of the world. The assets range includes stocks, shares, metals, indices, currency pairs, and financial derivatives. The broker can use trading platforms and tools to facilitate their trades. The buying and selling of these products are free, and the broker earns from spreads.
Further, there are more than 55 currencies, 15+ cryptocurrencies, and 41 stock shares derivatives.
LiteForex broker operates in two offices, i.e. one at Cyprus and another in Marshall islands. Note that these two are main operating offices and the broker works in more than 200 countries. The broker is regulated and works hard to provide trading services to users.
Further, their website supports 15 languages and has more than 500,000 clients currently. The minimum deposit is only $50 but remember that the spreads are not fixed.
So, this was the Liteforex Broker Review. One can also go and try their demo account service too. Here is the link to open a demo account with Liteforex broker. Remember to choose a broker which suits your needs only.
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