LiteForex

LiteForex | 2024-11-08 21:02

एब्स्ट्रैक्ट：LiteForex is a Cyprus-registered company that provides online trading services for forex, commodities, and global stock indices markets. It is regulated by the Cyprus Securities and Exchange Commission (CYSEC) and offers two types of live accounts: ECN and Classic. LiteForex also provides demo accounts and rich educational resources for beginners. The company allows clients to deposit and withdraw funds via popular electronic transfers, bank cards, and bank wire transfers with a minimum amount of 1 USD and no extra fees.

LiteForex Review Summary
Founded	2004
Registered Country	Cyprus
Regulated	CYSEC
Trading Instruments	Currency, commodities, global stock indices
Demo Account	✅
Leverage	Up to 1:30
EUR/USD Spread	Floating around 0.6 pips
Trading Platform	MT4, MT5
Copy Trading	✅
Min Account Deposit	$50
Customer Support	Working hours: 9 a.m. - 9 p.m.(GMT +2) (Monday to Friday)
	Live chat
	Phone: +357-25-750-555
	Email: support@liteforex.eu
	Address: Liteforex (Europe) Ltd, 30 Spyrou Kyprianou, 1st Floor, Germasogeia, 4040, Limassol, Cyprus

LiteForex Information

LiteForex is a Cyprus-registered company that provides online trading services for forex, commodities, and global stock indices markets. It is regulated by the Cyprus Securities and Exchange Commission (CYSEC) and offers two types of live accounts: ECN and Classic. LiteForex also provides demo accounts and rich educational resources for beginners. The company allows clients to deposit and withdraw funds via popular electronic transfers, bank cards, and bank wire transfers with a minimum amount of 1 USD and no extra fees.

Pros & Cons

Pros	Cons
Many years' experience in the industry	Limited leverage ratios
Regulated by CySEC	No 24/7 customer support
Member of the Investor Compensation Fund
Various trading instruments
Demo accounts available
Tight EUR/USD spread
MT4 and MT5 supported
Copy trading offered
Low minimum deposit
Popular payment options
No deposit/withdrawal fees
Rich educational resources for beginners
Multiple contact channels

Is LiteForex Legit?

Yes. LiteForex is regulated by Cyprus Securities and Exchange Commission (CySEC).

Regulatory Agency	Cyprus Securities and Exchange Commission (CySEC)
Current Status	Regulated
Regulated by	Cyprus
Licensed Institution	Liteforex (Europe) Ltd
Licensed Type	Straight Through Processing (STP)
Licensed Number	093/08

Besides, the broker says that it is a member of the Investor Compensation Fund, which enables them to guarantee that all of their client funds are insured (up to 20,000 EUR).

Market Instruments

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Stock Indices	✔
Cryptocurrency	❌
Bonds	❌
Options	❌
ETFs	❌

Account Type

LiteForex offers a demo account for beginners to practice trading without risking real money.

For live accounts, the company provides two options: ECN and Classic.

Account Type	Minimum Deposit	Account Base Currency
ECN	$50	USD, EUR, GBP, PLN
Classic	$50	USD, EUR, GBP, PLN

Leverage

LiteForex offers a maximum leverage of 1:30, which is a commonly seen level in the forex industry. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spread & Commission

Account Type	Spread	Commission
ECN	Floating from 0.0 points	✔
Classic	Floating from 2.0 points	❌

Currency Pair	Spread (Floating)
EUR/USD	0.6 pips
GBP/USD	1.0 pips
AUD/USD	1.0 pips
USD/JPY	1.0 pips
EUR/JPY	0.2 pips

Trading Platform

LiteForex offers both MT4 and MT5 trading platforms, which are widely recognized and trusted by traders in the industry. You can download Apps for Android and iOS.

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	Windows PC, MacOS, iPhone/iPad, Androi	Beginners
MT5	✔	Windows PC, MacOS	Experienced traders

Deposit & Withdrawal

Payment Options	Min Deposit	Commission/Fee	Deposit Time	Withdrawal Time
Visa/MasterCard	$10	❌	Instant	3-5 days
Bank wire transfers	$10	❌	2-5 days	2-5 days
Neteller/Skrill	$1	❌	Instant	Instant