LiteForex Broker Review 2020

Are you looking to know everything about LiteForex Broker? This is a complete guide on LiteForex trading. Get unbiased customer reviews, ratings, and many more. Let's rock and roll below!

LiteForex - Smart Way to Trade

According to many people, LiteForex Broker is the roadmap for many investors who were hesitating to invest heavily in the “Field of Forex” because of great initial deposits and withdrawals.

Service information

Demo Account Yes
Minimum Deposit $50
Max Leverage 1:1000
Spreads from 0.0 pips
Type of Broker ECN
Tradable Assets Currency,Metals,Oil,Stock Indices,CFD Nyse,CFD Nasdaq and Crypto
Deposit Options Credit/Debit Card, Wire Transfer,Skrill, Neteller,PerfectMoney,QIWI,Boleto Bancario, Skrill 1-Tap,The Yandex.Dengi,M-Pesa Kenya,Africa Mobile Money,WebMoney and Cryptocurrencies

Company information

Established 2005
Regulated by CySEC,FCA,MI
Telephone 88007072963
Customer Support 24/5 in 13 languages

LiteForex-Featured-DailyForexTrading.Net

Welcome to the topic “Complete Review of LiteForex Broker”

In this article, we will enlighten you about “LiteForex Broker” and unchain all the information regarding the topic.

So, let’s get started!

LiteForex was introduced in the market of “Forex Broker” back in 2005, and they are known for their “Cent Account” in which you can start the trading right from “$1.” Because of the “Cent Account”, a lot of people ended up opening the trading account and invested in the field of “Forex.” 

But, there are hundreds of thousands of questions that must be hitting your mind like “Is LiteForex Real or Scam, Is it worth Investing, what kind of accounts do they offer, What are the withdrawal methods and a lot more.”

To encounter all your questions, you need to scroll down and read everything.

Let’s get started with a brief
“History” of LiteForex Brokers.

LiteForex review - history

LiteForex Broker inaugurated their “Company” in 2005, and they are known for their “Cent Account” because this account brought revolutionary changes in the field of “Forex.” And that’s because;


You’re able to invest as low as $1 in the trading field

When talking about the condition of the company today, they are helping thousands of clients all around the globe in the field of Forex. Also, they offer their clients numerous trading advantages and tools such as CFDs, Currency Pair, Cross-Rates, Oil, Stock Exchanges, and a lot more.

Nowadays, they are known as the most prestigious Forex Trading network and all because of good reasons. Let’s not waste our time discussing history anymore and move towards the “Account Type” of LiteForex Broker.

Here we go!


Regulation of LiteForex Broker

You don’t have to doubt the “LiteForex” because they are regulated by the CySEC. Those who don’t know about CySEC, it is to tell you that “It is the most reliable watchdog Company of Cyprus.”

But a lot of people still hesitate to invest in “LiteForex” because they are registered with the Marshall Islands and have no regulations. But, you still don’t have to worry because looking at the reviews from the “Customers,” you’ll get to know that it is heaven for “Investors.”

Let’s now talk about the “Account Types of LiteForex.”

Account Types of LiteForex

Just like other “Forex Brokers,” they do have a few account types, and let’s break down the names and brief detail about them.


ECN Account

ECN stands for “Electronic Communications Network”, and it provides you with direct access to the “Stock Exchange Market.”

The minimum deposit for this account is $50, and they will charge you a 2.5% fee as well. If you’re thinking about the “Leverage”, then you can apply it up-to “1:500.”

We know that you can’t ignore the “Spread and Commission Fee,” the spread is “0.1 pips”, and the commission fee is $5. But you’ve to keep one thing in your mind, and that is “only MT4 type is available for ECN Account.”


Classic Account

If you’re one of those who don’t mind “High Spread” then “Classic Account” is for you. The minimum deposit for the classic account of “LiteForex Broker” is $50 the same as “ECN Account” and there’s no difference ofLeverage as well.

The best thing about “Classic Account” is that there’s no commission fee involved, but the spread of the account starts from 1.8 pips (relatively high).

Let us show you the table of “Classic Account”, but you have to keep in your mind that “Figure changes constantly.”

Now, it’s time to move to another account.


Demo Account

Demo Account is what “You should try” to learn a lot about Forex trading before investing in LiteForex Broker. You can test a lot of things, and there are zero risks involved.

Let’s talk about the “Trading Platform” now.

Trading Platform of LiteForex Broker

Like other trading platforms, LiteForex Broker does offer you MT5, MT4, Web, and Mobile Version. All the standard trading platforms have been adopted by LiteForex, and people are comfortable using them.

They are also providing you VPS services because in case of any internet or electricity problem, your data will automatically be executed through their servers and you will not lose any data.

As we are done with the trading platforms, it’s time to discuss the following things:

  • Spread
  • Execution Time
  • Commission
  • Leverage/Margin
  • Customer Services

Let’s talk about it!


LiteForex Spread

Spread is known as the difference between the bidding price and the demanding price and as discussed earlier in the account types of LiteForex, the spread of “ECN Account and Classic Account” is different.

If you want to enjoy a lower spread with a high commission fee, then you can go for an ECN account, but if you want to have a high spread with no commission fee, then you can have a classic account in your pocket.

The realistic approach for running a Forex account is “Dealing with Low Spread and Low Commission Fee.” You can’t outsmart the market unless and until you’ve got a little knowledge about it.


LiteForex Execution Time

There are two types of Execution that LiteForex is offering:

  • Instant Execution
  • Market Execution

Instant Execution means that you’ll execute your next move right after the market reaches the new height. But, there’s a high risk involved in it because sometimes you execute your trade at the “Level” you want but “because of the delays” you may end up not getting your desired results.

In short* You place the order instantly when you receive a great offer. But, if the price changes at the moment of instant Execution, you might end up on the losing side. So, it’s always better to have a great piece of knowledge of “Instant Execution” first before you try it.

Market Execution, on the other hand, is completely safe and runs according to the market. In this case, you specify the volume and leave the rest on the market. What makes Market Execution different from Instant Execution is that the client doesn’t reject your offer in-case of any price change.

That’s how Execution works and now let’s move to the Commission/Fee section of the content.


Commission and Fee of LiteForex Broker

We have discussed the Commission and Fee of LiteForex Broker already in the “Account Types” section but let us go a little in-depth. So, the commission of any Forex Platform works around the structure given below:

  • Variable Spread
  • Fixed Spread
  • Spread Percentage

We recommend you to go for a fixed spread because you can predict the commission without any problem. But, there are a number of factors that you look for when choosing the spread for you.


Leverage of LiteForex Broker

Different Trading Brokers have different Leverage, and LiteForex is offering you 1:500 leverage. But, when talking about what should be the best Leverage for an investor, then it should be within “1:100 to 1:200.”

Pros and Cons - Leverage


Pros


Cons

TheirLeverage allows you to trade with “Low Capital.”

TheirLeverage is a constant liability

They have an interest free leverage

Margin Call Risks are involved

You can enjoy bigger profits

Heavier Losses



Customer Service of liteforex broker

The Customer Service of LiteForex is pretty friendly and solves all your problems real quick. Additionally, the service is available 24/7, and you don’t have to wait for a certain time to get the reply. Today, you’ll get the customer service in 27 languages, and that’s an outstanding addition.

 Pros & Cons - Customer Services


Pros


Cons

24/7 Availability

The services aren’t available in all the languages, but if you know English then you won’t face any problem

Talks to you gently and guides you properly

Limited Information sharing

Live Chat Option is available to solve your problems quickly

Lack of personal touch

Are you interested in opening the account of “LiteForex?” Feel free to follow the steps down below:

How to Open LiteForex Account

To open the LiteForex Account, you need to follow the steps that are given below:

  1. Head toward the official website of “LiteForex Account” by clicking here, and you’ll end up opening the LiteForex Registration page.

  2. Now, the registration is pretty simple, and you’ll have to enter the basic information to get started, here’s the screenshot below:

    LiteForex-OpeningAccount-DailyForexTrading.Net
  3. Select your country, full name, email or phone, and password and check all the boxes below. Now, it’s time to click on the registration button. Click on it, and you’ll be asked to verify your account.

  4. You can get it done by opening your “Email” account and click on the provided link, once verified; it’s time to enter a few more details that are mentioned below:  Qualification  >  Bank Details  >  Nationality  >  Address Proof  >  Identity Proof

Once you enter all the details, you’re all set to get started! Another question that might be hitting your mind is “How to withdraw the profit money, right?”

Don’t worry; we will enlighten you about this topic too. 
Scroll down!

How to withdraw money from LiteForex

So, there are a lot of ways that you can adopt to withdraw your profited money from the account. Let’s break down the methods below:

  • You can connect your VISA CARD or Mastercard to transfer funds from your account.

    LiteForex-DepositByCard-DailyForexTrading.Net
  • The second method is Wire Transfer, and they support SberBank, Alpha Bank, and Swift Wire Transfer.

  • The third option they provide you to withdraw your money from the account is “Electronic Transfer.” Yes, you can get it done by using Skrill, Neteller, Perfect Money, and QIWI.

  • The fourth and last option is “Cryptocurrencies.” Yes, you can transfer your funds to Bitcoin, Litecoin, Monero, Bitcoin Gold and Bitcoin Cash.

So, that’s how you can withdraw your money. Let’s move to the next topic.

comparisons - liteforex vs exness

Let’s now compare LiteForex with Exness.


LiteForex


Exness

Headquarter: Cyprus

Headquarter: Cyprus

MM/STP Broker: Yes

MM/STP Broker: Yes

ECN BROKER: Yes

ECN BROKER: Yes

Founded: 2005

Founded: 2008

Regulated by NFA: No

Regulated by NFA: No

REGULATED BY ASIC: No

REGULATED BY ASIC: No

Minimum Deposit: $50

Minimum Deposit: $1

WITHDRAWAL FEE: Yes

WITHDRAWAL FEE: Yes

Fixed Spreads: No

Fixed Spread: Yes

EUR/USD SPREAD (VARIABLE): 2.10

EUR/USD SPREAD (VARIABLE): 1.70

 It’s time to discuss the Advantages and Disadvantages of LiteForex Broker. Have a look at down below:

Advantages and Disadvantages of LiteForex Broker

We will take a start from the advantages first:


Advantages:

  • They are in the market for more than 14 years
  • They have offices and partners in different regions of the World
  • They have a wide range of trading instruments
  • You can enjoy two types of trading account
  • They have affiliate programs
  • They deal with the automated withdrawal of funds
  • Easy to get started and one-click trading
  • They offer you Islamic accounts

That’s all from the advantages of the LiteForex section, let’s break down the disadvantages of LiteForex Broker.


Disadvantages:

  • They are limited to Forex Only
  • They have a few problems with “Withdrawal” of payments, that’s why they have so many negative reviews online

So, these are the advantages and disadvantages of “LiteForex Broker” that we have collected from the internet and through our personal experience. Let’s talk about the “Bonuses and Promotions” of the LiteForex Broker.

liteforex Bonus and Promotions

To get the information on bonuses and promotions of the LiteForex, you’ve to subscribe to the daily mails, news, and updates of the “LiteForex” website.

There are two types of Bonuses they are offering:

  • Demo Contests
  • Partner’s Contests


Demo Contests

5 Contenders will share the prize of $10,000 and to win the contest, you need to have great profit in your account, and your risk factors will come into play too. There’s no limit of the contenders, and you can participate too.


Partner’s Contests

30 Contenders will share a prize of $25,000 and to win this contest; you’ve to trust your broker because if you have zero trusts on the broker, then this contest isn’t for you. If you’ve got the highest amount of commission payout, then you’ll win it without any obstacle coming your way. Again, there’s no limitation to the participants.

How to get a bonus in LiteForex

To get the 60% bonus on your deposit, you’ve to follow the instructions given below:

  1. Make a report and share the Like bonus with your friends
  2. Now Top-Up your account and enter the promo code
  3. You can easily get a 60% bonus on deposits

Don’t believe us? Here’s the screenshot of their official website:

LiteForex-DepositBonus-DailyForexTrading.Net

Before we leave, how about discussing the LiteForex's educations “Pros & Cons”.

Let’s go ahead.

Pros and Cons of LiteForex Education


Pros


Cons

Education is completely free

Difficult for the beginners

They come up with different language support

Language is still a barrier because they don’t offer all the languages

The tutorials are straight forward; no complications are involved

 

So, that’s all from the section “LiteForex Brokers,” and we are hopeful that the comprehensive review has helped you a lot in achieving what you’re striving for.

Still, have any questions in mind? Feel Free to comment down below.

frequently ask questions

You can withdraw money from the trading account via your Client Profile in the "Finance"section, using the same payment systems that have been used to top up the account. Please take note of the Company’s AML Policy (the funds can be transferred to the same purse and in the same currency which has been used for making a deposit), and the level of verification required for different types of withdrawals.

Provided that all accounts belong to you and are located in the same Profile, a monetary transfer from one trading account to another can be carried out automatically in the Client Profile in the section "Metatrader". This type of transaction can be made by clients themselves without the help of the Company’s Financial Department. Money is transferred from one account to another instantly. The number of internal transfers is limited to 50 operations a day.

If you wish to earn with LiteForex, you can choose one of the following types of partnership programs:

CPS

Revenue share

Regional representative

All these programs provide different cooperation opportunities, that’s why you will find for sure the one that suits you best. Depending on your experience, potential and the expected result, you can choose any program which fits you best.

There are no limits on any type of account. The amount you need to conduct trading operations in accordance with your trading strategy in a comfortable way can be calculated using Trader’s Calculator. You can find more detailed information about the types of accounts on the page "Тypes of trading accounts"..

Withdrawal requests are processed manually by the Financial Department during its working hours. According to the Client Agreement, the transfer is performed on a first-come-first-served basis within 1 working day from the date of request. Kindly pay attention to the fact that if you use bank wire transfer, it can take up to 5 working days to process your transaction, depending on operation speed of the sender’s and beneficiary’s banks.

This type of service ensures that some withdrawals are handled automatically, enabling to reduce the queue-list of withdrawal requests. You are entitled to carry out two instant withdrawals per day provided that the amount of these operations will not exceed 100$ and your Profile’s status is Confirmed. If status of your Profile is Basic, then you will be able to carry out one instant withdrawal per day and the amount of your withdrawal shall not exceed 50$.
All the features of the service are set out here.

LiteForex Investments Ltd, founded in 2005, is domiciled in Cyprus and regulated by CySEC. They also have a Marshall Islands branch which is subject to a more flexible, looser regulatory regime.

The LiteForex brand was created in 2005 with an aim to provide a transparent and accessible trading opportunity to the world traders and investors.

HOW CAN WE HELP YOU?

contact@dailyforextrading.net