A simple program built specifically for a manager who manage investor fund across multiple accounts. It fast and easy to use because of the interface is similar to MetaTrader. MT5 is a new version of MetaTrader that has been improved in functionality and enlarged set of trading tools. You can download MetaTrader 4 in the “Trading Platforms” section of your broker’s website. To install the platform, double-click on the downloaded file “litefinance4setup.exe”. Choose a directory for installing the program and follow the installation program tips.
- Regrettably, none had a positive impact, making LiteFinance a less transparent, secure, and trustworthy brokerage.
- A CySEC licensed subsidiary exists for the EEA, the UAE, and the Marshall Islands traders.
- It could explain its corporate headquarters move and expansion into less-regulated cryptocurrency activities.
- LiteFinance does not provide any of the necessary third-party add-ons to unlock the full functionality of MT4/MT5 and improve the trading environment.
- The present choices will leave traders with an incomplete and sub-standard experience unless they are willing to invest in upgrades.
LiteForex also offers social trading capabilities, and MT5 has inbuilt plugins for this purpose. Another benefit related to the European Union’s financial markets regulations is the negative balance protection feature that applies to both account types. The Cyprus Investor Compensation Fund covers all retail trading accounts (for those not https://xcritical.online/ belonging to professional or institutional investors) against broker liquidation to a maximum value of EUR 20,000. It presents traders with an ideal environment to test EAs and new strategies. The web-based trading platform allows a $10,000 demo account without registration, a convenient method to get familiar with its functionality.
You will be required to contact the customer support team to have the issue addressed. You can choose from a wide range of credit/debit cards, electronic transfer systems, bank wire transfers, and cryptocurrencies to load your forex trading account. As we have seen above the LiteForex fees seem a bit high, to further clarify the picture let’s compare it with other popular brokers on the market. Traders will conduct all financial transactions from the secure back office of LiteFinance.
Broker Comparison
Another strong point is the broad range of forex trading educational resources available on the broker’s website. This company is a registered broker operating from Cyprus, an EU member state located in Southern Europe. As such, all trading and client activity is regulated by the Cyprus Securities and Exchange Commission. As noted above, this jurisdiction offers investor compensation up to EUR 20,000 on non-professional trading accounts in the event of brokerage liquidation. LiteFinance notes a 30% deposit bonus for the Classic account, where trading costs are 80% higher than its ECN account.
Download MetaTrader 4 Forex trading platform
LiteForex gives customers the opportunity to practice trading without risking their hard-earned money. A demo account serves as a training account, which new clients can use to learn more about trading strategies and improve their trading skills. Where LiteForex excels xcritical scammers is in the trading tools offered for free by the broker. The tools include an economic calendar, technical and fundamental Forex analysis, analytical materials from Clawthorne (an independent trading agency), economic news, a currency calculator, and currency rates.
Is LiteFinance a scam?
Additionally, the website is multilingual together with the live chat which is available 24/5 in 22 languages. Live chat provides the ability to connect to LiteForex’s different departments, including partnership and financial departments, together with general customer support. With all this combined, LiteForex offers excellent customer support services.
Comparing LiteForex fees with other brokers
LiteForex is not just a great place for trading, but also for lxcriticalg more about trading strategies and improving trading skills. In other words, the Forex broker is also an online trading tutor, providing high-quality educational material for beginners as well as advanced traders. Besides being the fastest growing online forex broker in Asia and Western Europe, LiteForex has won several industry awards, such as the Best Broker in Asia, Africa, and Latin America.