LiteForex Review 2019 | Is LiteForex a Scam or Legit Forex Broker?

Read our LiteForex review to find out if LiteForex is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.5/ 5

Rating breakdown

Protection & Regulations
60% Complete (danger)
3.0/5
Trading platforms
80% Complete (danger)
4.0/5
Tradable Products
100% Complete (danger)
5.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
LiteForex
LiteForex Overview

LiteForex is a global forex and CFD broker located in the Marshall Islands. It offers forex, stock, indices, commodities and cryptocurrencies for trading on its platforms. With 13 years experience in the brokerage industry, LiteForex is an established ECN broker.

# Broker's Features LITEFOREX Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review LiteForex.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. LiteForex offers Online Financial Trading and Investment Services Such as Currencies, Indices, Stocks, Crypto.

Tradable Products: LiteForex offers the following assets for trading: 56 currency pairs, 17 Crypto assets, 4 Metals, 2 Oil assets, 11indices and CFDs from NASDAQ and NYSC.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. LiteForex is ECN.

Features: The MT4 and the MT5 are platforms suitable for all kinds of trading styles and strategies. They have a lot of useful features. Social Trading is designed for copying the trades of expert traders, but it has other features.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. LiteForex recommended minimum capital is $50.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. LiteForex is regulated by CySEC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: LiteForex EU is authorized and regulated by CySEC. The international arm is regulated in the Marshall Islands. The brand protects investors by providing a secure trading environment, belonging to ICF and segregation of clients’ funds from broker funds.

Languages Available: Next lets have a look at each broker's different Language options. LiteForex offers English, Indonesian, Malaysian, Portuguese, Russia.

Payment methods: Next lets have a look at each broker's payment options. LiteForex offers Credit Card, Cryptocurrencies, Neteller, Skrill, Wire Transfer different payment methods for each account types.

Deposit and withdrawal: Credit/debit card, Bank wire transfer, local bank transfer, e-payment platforms as well as Cryptocurrencies are payments options accepted by LiteForex. Fees depend on the payment method used.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, LiteForex makes MetaTrader 5 available to clients.

Web & Desktop Trading Platforms: Three trading platforms are available. They are the MT4, MT5 and the Social trading platform. The MT4 and MT5 are available as desktop and mobile applications.
Mobile Trading Platforms: The mobile trading platforms are the MT4 and the MT5. They are both available as Android and iOS apps. These apps are loaded with features used for analysis, news, alerts, trading on the go, etc.

Other

Trader Education
LiteForex has several articles on forex training designed for a beginner. There is a list and description of expert recommended books for the trader.

Promotions
Promos and contests are frequently announced but ‘Best of the best demo contest’ and ‘Show your worth contest’ are ongoing.

Support
The customer support is available 5 days a week. The support channels are: Live web chat, email, phone and social Media. The support desk is multilingual and in different countries.

Recup
LiteForex is an experienced broker, that has grown through the years to become a global brand. The quality of its brand which operates in the EU and UK is great, with investors’ funds fully segregated. The platforms provided are modern, sophisticated and suitable for every trading style.

Final Thoughts
The social trading platform provided is apt for both expert and new traders.

Trading Experience
LiteForex is suitable for all levels of trader. It offers trading contests for fun and rewards, copytrading for new traders to learn trading and experienced traders to make commission as trade leaders and two sophisticated platforms for self trading.

People Also Asked

Is LiteForex regulated?
Yes, LiteForex is regulated by top-tier regulators, CySEC inclusive.
Where is LiteForex based?
LiteForex is based in , Cyprus
How does LiteForex make money?
LiteForex charges a spread between the bid price and ask price. In some instances it also charges a commission.
How do I deposit in LiteForex account?
With LiteForex you can deposit money via the following means; Credit Card, Cryptocurrencies, Neteller, Skrill, Wire Transfer.
How do I withdrawal in LiteForex account?
LiteForex lets you request a withdrawal of funds from your account via the following means; Credit Card, Cryptocurrencies, Neteller, Skrill, W.
What is the minimum deposit for LiteForex?
LiteForex has $50 minimum deposit.
What are the available account base currencies with LiteForex?
LiteForex trading accounts are offered in N/A. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in LiteForex?
LiteForex has a maximum leverage is 1:500 for professional traders.
How do I open an account with LiteForex?
Opening an account with LiteForex is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does LiteForex use MetaTrader?
LiteForex platforms: Yes, LiteForex use MetaTrader as well as the following platforms: MetaTrader 5
What type of broker is LiteForex?
LiteForex appears to be a ECN broker which offers market access to a variety of traders.
Does LiteForex accept US clients?
No
Does LiteForex offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with LiteForex: You can trade a wide variety of instruments with LiteForex: Currencies, Indices, Stocks, Crypto