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. I discovered that LiteForex’s Classic account features trading costs that are nearly twice as high as the fees on the ECN account.

LiteForex merely presents them as two buttons and clicking on them redirects to an account opening page. Both are available as desktop clients, webtrader, and mobile apps. LiteFinance also offers a lightweight web-based browser with a user-friendly interface. It is ideal for manual traders and superior to the MT4/MT5 web-based alternatives. It presents traders with an ideal environment to test EAs and new strategies. The web-based trading xcritical official site platform allows a $10,000 demo account without registration, a convenient method to get familiar with its functionality.

1. Perhaps, you are using tradebalance trading strategy that disallowed in this broker.
2. For low-latency algorithmic trading, clients of LiteForex can take advantage of the broker’s VPS offering, affording execution speeds of below 2 milliseconds.
3. Accordingly, the most favorable prices are available when trading FX majors on LiteForex’s ECN account type.
4. I always recommend that traders check them before evaluating the total trading costs.
5. Depending on the trading strategy, it may become the most significant fee per trade.

Is LiteFinance a scam?

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. Traders xcritical scammers will conduct all financial transactions from the secure back office of LiteFinance. I find the deposit and withdrawal methods sufficient for most traders and appreciate the inclusion of cryptocurrencies.

Trade. Chat. Invest. with LiteFinance

The high trading costs remain, and at its present state, LiteFinance cannot be said to be a good broker. Online registration merely requires an e-mail address or phone number and a password. Traders may also sign-up through their Google or Facebook accounts. Since LiteFinance claims to adhere to AML regulations, verification is mandatory. It is generally satisfied by a copy of the trader’s ID and one proof of residency document.

Does LiteForex provide VPS?

Each article consists of an economic breakdown and a technical setup supported by a chart. LiteForex offers robust research content catering to the needs of novices and experienced traders alike. The broker offers market breakdowns developed in-house and also incorporates content from Claws&Horns.

Unique Features

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. I performed my tests on a Classic trading account using the desktop versions of MetaTrader 5 and the broker’s proprietary platform.

The account was opened with the broker’s Liteforex (Europe) Ltd entity. Some features and services may vary depending on where you reside and which entity you open an account with. The ECN account is a much better variant for trading as all the other terms are the same for both Classic and ECN account types, except that spreads are much lower on ECN accounts. It should be noted that their commissions are a lot more expensive than other brokers. Additionally, the broker also offers advanced trading tools to assist their traders.