On the other hand, its dated and rugged design falls short compared to newer, sleeker platforms. As a trader who prioritizes flexible chart scaling, I find MT5’s charting capability too rigid and less effective. A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

LiteFinance notes a 30% deposit bonus for the Classic account, where trading costs are 80% higher than its ECN account. LiteFinance offers three partnership programs, but limited information exists. Clicking on each merely loads the web-based trading platform. 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.

Does LiteForex offer a demo account?

Traders can use the built-in economic calendar, which is an essential tool in a trader’s arsenal. It informs traders of upcoming market events and releases that have the potential to stir price action, thereby creating viable trading opportunities. Compared to the industry average, LiteForex offers an average amount of forex pairs and commodities, and a high amount of indices. My findings indicate that the broker charges average-to-high swaps compared to the industry average. This combination is not particularly suitable for longer-term trading strategies (swing trading and position trading). Broken down by asset class and compared to the industry average, LiteForex charges high spreads on instruments across all asset classes for the Classic 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. LiteForex offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment.

What is CFD Leverage?

Overall, LiteForex is deemed suitable for novice traders, day traders, and those interested in algorithmic trading. Commissions and spreads differ according to the nature of the assets being traded. Opening an account and using the demo features does not require any payments. The exclusive ECN or Electronic Communications Network promotes Forex trade without the intervention of brokers. A confirmed message appears specifying the price of execution. Select an asset to trade like the very popular currency pair EURUSD.

Does LiteForex provide Stock Trading?

Working with MT4 and MT5, the mobile apps cater to both android and iOS systems. Experienced professional traders and xcritical official site investors use the ECN trading account. The most popular professional trading account ECN requires a minimum deposit of $50. ECN or Electronic Communications Network accounts charge commissions.

Deposits and Withdrawals

LiteForex’s platform is much more fluid in comparison to MetaTrader, especially its charts, which are powered by TradingView. The values listed below are for one full base currency contract (100,000 units). Analytical materials are developed in cooperation with our partner, Claws&Horns, exclusively for information purposes. Published materials should not be regarded as a recommendation for investment or advice in accordance with Directive EC.

1. The market is continually evolving and never static, so it is important to hone your skills in a safe environment.
2. Clicking on each merely loads the web-based trading platform.
3. LiteForex Trading Account is quite user-friendly and the web platform allows customization.
4. They are divided into beginner, intermediate, and advanced categories.

Pros & cons of LiteForex broker

Additionally, the broker also offers advanced trading tools to assist their traders. The website is multilingual, and customer support is available 24/5 via live chat, which is also multilingual. It is possible to access LiteForex live chat in a demo mode and get answers to all your questions. 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. Traders can also connect with the broker directly via phone call.

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. Additionally, MetaTrader 5 has an intuitive mobile app, which helps traders stay connected to the global capital markets even on the go. Generally, only the $10 commission on FX Majors falls below the industry average. Accordingly, the most favorable prices are available when trading FX majors on LiteForex’s ECN account type. LiteFinance features a Beginner section on its blog, where it presents educational content featuring dozens of quality articles.

Founded in 2008, LiteForex is a forex and CFD broker based in Cyprus, authorized by CySEC. It supports the MetaTrader 4 and 5 platforms and offers VPS hosting for low-latency trading. A combination of in-house research and third-party analytics by Claws & Horns offers traders comprehensive market coverage and trading ideas.

Swap-free trading is available via the broker’s Islamic accounts. DailyForex.com adheres xcritical scam to strict xcriticals to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money.

The broker offers its proprietary platform with versatile charts from Trading View and also incorporates MetaTrader 4&5. Clients of LiteForex can also use its VPS offering for low-latency trading and engage in copy trading. Another advantage of LiteForex is its robust and extensive supporting content. I consider the charts screen a platform’s most important feature. It facilitates technical analysis by providing an overview of price action behavior. Chart artists use many analytical tools and chart configuration possibilities to examine it from multiple angles.

Liteforex (Europe) Ltd is regulated in Cyprus by CySEC, and LiteFinance Global LLC is unregulated. I discovered that the European entity of the broker adheres to all essential safety requirements, such as ensuring negative balance protection and a compensation scheme. The broker also has very tight margin call and stop-out policies.