LiteForex Europe is a trustworthy forex broker with a decent determination of MetaTrader platforms and mobile applications. Customers profit with the cutting-edge examination, copy trade highlights, and clear fees. Here we’ll survey LiteForex Europe’s 2021 trading administrations exhaustively, including guidelines, minimum deposits, account types, and spreads.
LiteForex Europe Details
Since beginning in 2008, LiteForex Europe Limited has procured a solid global standing, with over a large portion of 1,000,000 customers. The organization is enlisted as a Cyprus Investment Firm (CIF) and controlled by the Cyprus Securities and Exchange Commission (CySEC).
LiteForex Europe offers edge trading on a wide scope of instruments, including currencies, commodities, and stock indices. The broker’s account offering is straightforward and accompanies extra highlights like a social trading platform and a forex examination portal.
The MT4 platform is the preferred choice for some people, regardless of whether they are new to trading or prepared professionals. The brilliant interface is loaded with custom tools to support progressed trading procedures, incorporating more than 50 underlying pointers and graphical articles. There are 9-time spans, in addition to full trading history.
The arrangement and download measure for computers is speedy, simple, and accessible from the LiteForex Europe landing page.
LiteForex Europe’s high-level trading arrangement is the MT5 platform, planned in light of the expert trader. The platform flaunts dozens more specialized indicators than its predecessor, 21 timeframes, and a full arrangement of request types. Also, traders can exploit the economic calendar and profundity of liquidity tools.
The web terminal takes into consideration trading with no product establishment. Web clients have similar admittance to real-time cites, charting tools, and trading history straightforwardly from their program. The terminal is viable with any working framework, including macOS, and is available once you have your account login subtleties.
You can exchange on four fundamental markets at LiteForex Europe, including dozens of well-known currency pairs like EUR/GBP, commodities including oil and gold, and a scope of global stock indices like the NASDAQ and US30.
This review might want to have seen cryptocurrency trading advertised.
Spreads and Commission
Spreads at LiteForex Europe are gliding from 0 pips with the ECN account. However, normal spreads begin from 4 pips for major pairs and 1 point for major indices.
Commissions are likewise accused of the ECN account at $10 per parcel for major pairs, $20 per part on forex crosses and metals, $30 per parcel of forex minors, $5 per contract on stock indices, and $5 per parcel on oils.
By and large, more tight spreads and less expensive commissions are offered at different merchants, like XM.
The greatest leverage accessible at LiteForex Europe is 1:30 on major currency pairs. Major and minor crosses, in addition to stock indices and precious metals, are accessible up to 1:20, oil can be leveraged up to 1:10.
LiteForex Europe has a broad mobile application offering, comprising of the MetaTrader applications as well as the intermediary’s own applications custom-fitted to forex signals, investigation, and systems.
Accessible in 22 languages, the MT4, and MT5 mobile applications are reasonable for iOS and Android (APK) smartphone and tablet clients. The applications accompany similar highlights as their work area partners and take into account full-fledged specialized examination with custom charting tools and exchange execution abilities.
The broker likewise offers 6 proprietary mobile apps free of charge, all catering to different needs. There is an overall mobile trading app, which permits you to manage your account while on the move. You can likewise subscribe to signals, examination, news, and strategies and even convert currency. All choices are available on Android and iOS devices and can be downloaded from particular app stores.
Overall, compared to peers, LiteForex Europe does well in mobile rankings.
LiteForex Europe Payment Methods
Funding is available by means of bank cards (Mastercard or Visa) and e-wallets, including Skrill and Neteller. Fees are reimbursed for all neighborhood deposit methods and are processed instantly. The minimum sum for deposit or withdrawal is $1 for e-wallets and $10 for cards. Withdrawal times by means of bank card are 3 – 5 days.
The owner has certified all LiteForex Europe deposits and withdrawals can be managed from inside the secure Client Cabinet, which likewise contains a live chat in case of any problems.
Traders can use the preparation account free of charge to explore different strategies under real market conditions. There’s no danger of losing any money since all funds in the demo account are uncapped and virtual. Registration for a demo account requires less than 1 minute through the Personal Profile, and demo contests are likewise available. You would then be able to open a real money trading account when you feel ready.
Bonuses and Promotions
No bonus deals or promo codes are offered by LiteForex Europe in 2021. According to CySEC regulations, the use of incentivized trading through bonuses, rebates, contests, etc., has been restricted to shield investors.
The non-EU body, however, has been known to bring to the table generous $100 welcome no deposit bonuses and dream draw contests. The non-EU entity receives traders from a range of countries, including Nigeria, Iran, Myanmar, Indonesia, Thailand, Vietnam, Malaysia, the Philippines, Ghana, Kenya, and Uganda. USA clients are not accepted.
LiteForex Europe Ltd is listed as a Cyprus Investment Firm (CIF) and is regulated by the Cyprus Securities and Exchange Commission (CySEC). The license number is 093/08. The broker operates as per the Markets in Financial Instruments Directive (MiFID).
LiteForex Europe Limited is additionally a member of the Investor Compensation Fund, which protects client funds up to 20,000 EUR. Traders ought to have a reasonable level of trust with this broker.
There’s a decent range of additional resources on offer, including a beginners section complete with forex literature, tutorials, and investing strategies. Moreover, you can access a large group of tools like an economic calendar, trading calculators, and an economic news blog. There’s additionally an investigation entry powered by Claws and Horns, which you can subscribe to for bits of knowledge on technical and fundamental examination.
Investors can likewise join the broker’s duplicate trading network with the social trading platform, which permits you to synchronize your accounts with proficient traders.
Traders can pick between the Classic or ECN account at LiteForex Europe. The fundamental distinction between the two accounts is that tighter spreads accompany the ECN alternative, plus scalping capabilities and admittance to the social trading platform.
The two accounts require a minimum deposit of $50, which is lower than different contenders like FXTM and OctaFX. The minimum exchange size is 0.01 parcels, the margin call is 100%, and the stop-out level is half. The two accounts additionally accompany negative balance protection.
Note that the LiteForex European substance doesn’t offer Islamic swap-free accounts, PAMM/MAM accounts, or Cent accounts.
On the off chance that you take LiteForex Europe versus FBS and HotForex, for instance, the broker performs well in the accompanying areas:
- Social and copytrade accessible
- TradingView investigation
- $50 minimum deposit
- Range of mobile applications
- CySEC regulated
The broker likewise has certain limitations:
- No cryptocurrency trading
- Limited funding methods
- No Islamic accounts
- High trading fees
Forex can be exchanged 24 hours per day. However, specific geographical trading meetings rely upon the market’s timezone. Explicit worker hours can likewise be given by the customer support group or by clicking on the instrument subtleties inside the client portal.
The LiteForex Europe customer support group are accessible Monday to Friday between 9 am and 9 pm (GMT+2) by means of:
- Email – firstname.lastname@example.org
- Telephone hotline – +357 25 750 555
- Headquarters – 124 Gladstonos Street, The Falcon Building, fourth Floor, 3032 Limassol, Cyprus
You can likewise get help 24/5 by clicking on the live chat logo, which is accessible upon login to a demo or live account. Then again, see the FAQ portal or connect by means of Telegram.
You can contact the support group to find support with a range of queries, from account enlistment and check to copytrade benefits and forgotten investor passwords.
LiteForex Europe utilizes HTTPS (Hypertext Transfer Protocol Secure) information encryption inside the Personal Profile portal, which guarantees safe information transfer between the client and workers. The MT4 and MT5 platforms likewise utilize Secure Sockets Layer encryption protocols and broadened layers of security whenever required.
LiteForex Europe Verdict
LiteForex Europe is a confided in broker contribution social trading, ECN spreads, and quick withdrawals. The $50 minimum deposit is likewise sensible, and the demo account and trading tools settle on the broker a decent decision for fledglings.
LiteForex Europe just acknowledges traders from Belgium, Bulgaria, Czech Republic, Denmark, Germany, Greece, Estonia, Ireland, Spain, France, Croatia, Italy, Cyprus, Latvia, Malta, Lithuania, Luxembourg, Hungary, Netherlands, Austria, Poland, Portugal, Sweden, Romania, Slovenia, Slovakia, Finland, Liechtenstein, Iceland, Switzerland, Norway, United Arab Emirates, Marshall Islands, United Kingdom.
Alternatives to LiteForex Europe
In case you are searching for alternatives to LiteForex Europe, we have assembled a rundown of the best 5 brokers that are like LiteForex Europe underneath. This rundown of brokers like LiteForex Europe is arranged by closeness and just incorporates organizations that acknowledge traders from your area.
FXTM – FXTM is a main forex and CFD broker. Offering a colossal range of markets and 6 account types, they oblige all levels of trader.
FP Markets – FP Markets is a multi-asset broker contributing a choice of trading platforms.
GO Markets – GO Markets is an ASIC-regulated FX and CFD broker.
OctaFX – OctaFX offers multi-asset trading on a range of platforms and mobile arrangements.
Moneta Markets – Moneta Markets is a regulated FX and CFD broker contributing an exclusive web platform.
Does LiteForex (Europe) provide any promo codes or deposit rewards?
LiteForex (Europe) doesn’t offer any promotions, including no deposit rewards.
Does LiteForex (Europe) acknowledge USA clients?
LiteForex (Europe) doesn’t acknowledge clients from the United States. The EU element just acknowledges traders from the EEA, plus the UAE and Marshal Islands.
How would I open a genuine LiteForex (Europe) account?
You can pursue an account from the site landing page, which will take you through the check interaction. You will then, at that point, accept your sign-in credentials so you can begin trading.
Is LiteForex (Europe) genuine?
LiteForex (Europe) is a confided in broker situated in Cyprus and licensed by the Cyprus Securities and Exchange Commission (CySEC).
Where is LiteForex (Europe) based?
LiteForex (Europe) is situated in Limassol, Cyprus. The non-EU substance, LiteForex Investments Limited, is situated in different areas around Asia and the Middle East, including Malaysia, Thailand, Vietnam, Kenya, Nigeria, and Iran.