LiteForex Review – 2021’s Best Forex Trading Platforms

James Harrison
liteforex-europe-ltd-forex-trading-review

LiteForex Europe ltd is an online trading platform and brokerage. Established in 2008, the company has grown and gained the reputation of a trustworthy and credible broker. It offers a variety of MetaTrader Platforms to trade from alongside its mobile apps which promote the idea of trading on the go. In addition to the multiple platforms offered, clients also have a wide variety of trading tools to choose from.

LiteForex Europe ltd keeps the clients as its first priority thus it ensures an excellent customer service and educational tools that will help the clients in getting a better and more comprehensive analysis of their trading activity. The firm is regulated by the Cyprus Securities and Exchange Commission (CySEC) and has been registered as an investment firm in Cyprus. The firm does cater to an online audience, however there are certain geographic limitations. LiteForex Europe ltd only deals with clients residing in either UAE, Marshall Islands or the Europe Economic Area (EEA).

In this review, we will explore the multiple aspects and advantages of trading with LiteForex Europe ltd and whether it is the right choice or not.

LITEFOREX EUROPE LTD OVERVIEW:

  • Multiple MetaTrading platforms
  • Mobile apps
  • Advanced analysis
  • Fast and free withdrawals and deposits
  • Trustworthy broker
  • Highly experienced and has evolved since it got established

COMPANY PROFILELITEFOREX EUROPE LTD:

Started in 2008, LiteForex Europe ltd has come a long way and has gained an extremely credible reputation. With headquarters located in Cyprus, the firm is regulated by the top-tier regulatory body of Cyprus, CySEC. The firm has a minimum trading size of 0.01 and provides a 1:30 leverage to its clients.

Similar to some other brokers, LiteForex Europe ltd has incorporated the cutting-edge ECN technology into its daily operations to optimize its yield and maximize the profit for clients.  Over the years, the firm has won multiple awards which has further strengthened its credibility. These awards include the best ECN broker award, best copy trading and retail forex trading platform, best affiliate program, best client service, best foreign exchange retail service provider and several others that are a testament to the quality of services provided by the firm and its efficiency.

Clients that opt for LiteForex Europe ltd for their trading needs are at the receiving end of in-depth advanced analysis, low and straightforward charges and copy trade features which contribute towards ensuring a seamless trading experience for clients.

LITEFOREX EUROPE LTD REGULATIONS:

As mentioned earlier, LiteForex Europe ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) and has authorized the firm as a Cyprus Investment Firm (CIF) under the license number 093/08. In addition to the rules and regulations imposed by CySEC, the firm also has to make sure that it is in compliance with the Markets in Financial Instruments Directive (MiFID).

In order to further strengthen the security, the firm has guaranteed the protection of funds of to 20,000 EUR through the Investor Compensation Fund. This makes it easier for clients to place their trust in the firm’s hands as they are offered some sort of protection.

In addition to CySEC and MiFID, the firm’s activities should align with the European Union regulations since client relationships are dictated by the laws set in place by the European Union and Cyprus State laws.

LITEFOREX EUROPE LTD TRADING PLATFORMS:

LiteForex Europe ltd offers three different MetaTrader platforms for its clients to choose from. Each platform is designed to provide an amazing trading experience and facilitate the clients as much as possible. Some of the features of these platforms overlap with each other, however they all have features that make them stand out and more preferrable to certain clients.

1. META TRADER 4:

LiteForex Europe ltd has included the industry standard MT4 platform in its list. This platform is an excellent choice for both, newbies and professional traders. Regardless of the level of experience, clients often resort to the MetaTrader 4 platform due to its easy-to-use and smart interface. The best part about this platform is that it allows clients to customize various elements and move forward in a direction that best suits their needs.

To facilitate the trading process, MT4 comes with more than 50 financial indicators and several tools that can be used for graphing purposes. The smart interface employed by MT4 makes room for advanced trading techniques and offers 9 timeframes. Through the MT4 platform, clients can also generate a full trading history that can help them in better understanding trends. The MT4 platform is available for trading through most devices since its compatible with android, windows and iOS.

2. META TRADER 5:

The MetaTrader 5 platform is an ideal solution for clients who are looking for a more technologically advanced trading experience and want to play around with the trading tools that are at their disposal. Unlike its predecessor, MT4, the MT5 platform is designed to cater to the needs of professional traders. In addition to the financial indicators that are present in the MT4 platform, the MT5 platform consists of at least a dozen or more financial indicators.

MetaTrader 5 offers a total of 21 timeframes, coupled with all types of order types. When we talk about the tools that are used in trading, MT5 provides the added advantage of two tools; economic calendar and depth of liquidity tools, in addition to all the tools that the MT4 platform uses.

3. META WEBTRADER:

Even though the MT4 and MT5 platforms do tick a lot of boxes, with LiteForex Europe ltd, clients are only restricted to installing or downloading the platform. This is where the Meta WebTrader platform steps in. It offers almost all of the features as the MT4 and MT5 platform but allows clients to use a web-based version of the platform. With the WebTrader platform, clients are granted access to real-time quotes, trading history and various charting tools.

LITEFOREX EUROPE LTD DEMO ACCOUNT:

Similar to most other forex broker, LiteForex Europe ltd also offers a demo account to its clients. The purpose of this account is to give clients a chance to familiarize themselves with trading before they step into real-world trading.

Through this demo account, clients are at the liberty to explore different aspects of the trading world and devise trading strategies and tactics while staying in a risk-free environment. It serves as a medium where clients can practice trading before they switch to a real Live trading account. Built on the ECN model, this demo account, unlike most others, has an unlimited supply of virtual funds. It provides clients with real quotes, ability to carry out scalping and news trading, no requotes, unlimited duration as far as transactions are concerned and access to unlimited trading instruments.

LITEFOREX EUROPE LTD DEPOSITS AND WITHDRAWALS:

In order to further improve the ease of customers, LiteForex Europe ltd has made it possible for clients to make deposits and withdrawals through multiple channels. These include the following:

  • Mastercard
  • Visa
  • Debit Card
  • Credit Card
  • Bank Wire
  • Local deposit
  • Skrill
  • Neteller
  • Perfect Money
  • BoletoBancario
  • Skrill 1-tap
  • Yandex.Dengi
  • M-Pesa
  • Africa Mobile Money
  • WebMoney
  • AdvCash
  • AliPay

ACCOUNT CURRENCIES SUPPORTED BY LITEFOREX EUROPE LTD:

LiteForex Europe ltd supports a variety of currencies from which the clients can opt for the one that they need. These include the following:

  • EUR
  • GBP
  • USD
  • AUD
  • NZD
  • CAD
  • CHF
  • JPY

LITEFOREX EUROPE LTD FEES AND COMISSION:

The firm charges low trading fees alongside commissions and spreads starting from 0 pips. These commissions however, are only imposed on clients that to up their trading accounts.

1. TRADING FEE:

For clients opting for the Classic account, they won’t be charged any commission and spreads will start from 1.8 pips which is high compared to other accounts where spreads start from as low as 0.1 pips. The no commission policy for classic accounts means that the broker’s fee is incorporated into the spreads which is why the spreads are fairly higher.

For clients using the ECN account, spreads start from 0.1 pips and the commission charged is up to $5 per lot. An interest of 2.5% is also charged on the surplus funds of traders. For Islamic account holders, there is not interest rate that is imposed on the funds and neither are there any swap charges. As for demo account holders, they trade in virtual funds thus there is no real-time capital involved which is why commission and interest rates are kept to a zero.

2. NON-TRADING FEE:

The firm does not charge any non-trading fee except in the case of certain transactions of funds. For credit and debit card transactions, a 3.5% withdrawal fee is deducted and an average of 2% is deducted from transactions made through E-wallets.

3. INACTIVITY FEE:

The firm does not mark any accounts as inactive thus no inactivity fee is imposed on clients and their accounts.

PROS:

  • Regulated in some jurisdictions
  • Multiple MetaTrader platforms
  • Established and experienced broker
  • Availability of social trading
  • Multiple payment options

CONS:

  • International locations aren’t served through regulated jurisdictions
  • High margin requirement for trades involving crypto currency
  • Is not publicly traded
  • Does not offer a premium account

CONCLUSION: SHOULD YOU TRADE WITH LITEFOREX EUROPE LTD?

LiteForex Europe ltd is a reliable choice for trading. With some unique features and advanced trading tools, the firm acts as a commendable choice for clients who are looking for a hassle-free trading experience. The firm offers social trading and ECN spreads. Another reason to opt for LiteForex Europe ltd is its fast execution and withdrawal speed.

When it comes to beginners, the demo account has sufficient tools that can optimize the simulated trading environment and enables customers to learn about trading. The firm requires a $50 deposit in order to activate accounts and this amount is reasonable considered to some of its competitors that demands clients to deposit a large sum of money. Keeping all things in mind, it is safe to conclude that LiteForex Europe ltd is one of the best choices for trading.

LITEFOREX EUROPE LTD FREQUENTLY ASKED QUESTIONS:

1. What is the minimum deposit required for account activation?

Clients are required to deposit a total of $50 in order to get their accounts activated.

2. Does LiteForex Europe ltd offer an Islamic account?

Yes, in order to cater to its Islamic clients, LiteForex Europe ltd does offer an Islamic account with no interest charges.

3. Is there an inactivity fee?

No, the firm does not charge an inactivity fee even if the account has been dormant for a while.

4. Does LiteForex Europe ltd offer any promotions or deposit bonuses?

No, LiteForex Europe ltd does not offer any promo codes or deposit bonuses.

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