- Excellent selection of trading platforms
- Wide array of financial assets
- Excellent customer service and support
- Favorable trading fees
- Only variable spreads
- Primarily only a forex broker
LiteForex is a large and established online trading brokerage who serves the international markets by accepting traders from around the world and offering their services in over 10 languages. The brokerage specializes in the trading of forex and has been providing reliable and innovative forex trading services since their establishment in 2005. LiteForex is owned and operated by LiteForex Investments Ltd. and is registered in the Marshall Islands with their headquarters located at Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. As LiteForex is based in the Marshall Islands, they are licensed and regulated in accordance with the Marshall Islands Business Corporation Act. Therefore, the brokerage is trusted to provide safe, secure, and transparent online trading services and has been doing so for over 13 years. LiteForex utilizes ECN trading technology while also supporting social trading and facilitating copy trading. The brokerage cares deeply about their clients and makes it easy for every type of trader to get started with them. Therefore, should you choose LiteForex as your primary forex trading brokerage? Find out in the following review where we analyze all aspects of this lucrative trading broker and discover if LiteForex is the right online trading brokerage for you.
LiteForex offers traders the selection between two of the most popular and loved trading platforms in the world, the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. Both platforms are highly sophisticated and accommodate the needs of both beginner and experienced traders. All in all, it doesn’t really matter which trading platform LiteForex clients choose as the MT5 trading platform is essentially the same as the MT4 trading platform, only it is better suited for trading financial assets other than forex. However, because LiteForex only provides trading in the forex markets, both platforms will do. The MetaTrader platforms feature fully customizable user interfaces as well as watch lists, market news integrations, advanced order windows, a sophisticated charting package and more. Traders benefit from lightning fast execution on their trades and can trade directly from the charts with one click trading. Also, traders can participate in auto trading with the use of Expert Advisors (EAs), which use algorithmic trading to trade for you. Another cool feature is the ability to follow and copy other successful traders trades with the social trading and copy trading features. Traders can communicate with other traders and view various statistics about their current trades, trading history and more. All in all, the trading platforms provided by LiteForex give traders the ultimate forex trading experience possible.
LiteForex is a very specialized online trading brokerage as they primarily facilitate the trading of forex with a wide selection of currency pairs. However, they also offer the trading of various other financial assets across the global markets including trading of the global stock indexes and CFD trading on gold, silver, oil, cryptocurrencies and shares of the world’s largest companies. See these lucrative financial markets overviewed below.
- 7 major currency pairs
- 21 minor currency pairs
- 28 exotic currency pairs
- 22 cryptocurrency pairs
- 15 different cryptocurrency assets
- Trade 11 Global Stock Indexes
Fees and Commission
LiteForex is a zero commission trading brokerage and only charges trading fees through floating spreads on all types of trading accounts. The spreads are very competitive with the industry standards but are nothing extraordinarily low. On ECN trading accounts, traders will see floating spreads as low as 0.9 pips and average spreads of around 1.1 pips. For classic trading accounts traders see average spreads of 1.8 pips and on Cent accounts, the floating spreads can reach all the way up to 3 pips.
Security and Fairness
LiteForex is a very safe, secure, and fair online trading brokerage as they follow and comply with the strict regulatory guidelines and requirements imposed by the Marshall Islands Business Corporation Act. As well, LiteForex employs the latest and greatest security technology for the protection of their client’s personal information and funds. LiteForex has been in operation for over 13 years and have yet to be committed of fraud and are thus far a reliable, fair, and transparent online trading brokerage.
The customer support provided by LiteForex is truly phenomenal. It’s evident that the brokerage takes the success of their clients very seriously as they do everything in their power to help their traders succeed. For instance, traders have access to numerous eBooks, tutorials, strategies, articles, and more to help them become better traders. Also, support representatives can easily be contacted 24 hours a day, 7 days a week via live chat, email, support forums, and telephone support that supports call back functionality. Therefore, traders will always be able to get in touch with a representative easily and quickly. Also, traders can interact with representatives via the brokerages various social media channels including; Facebook, Twitter, Google+, Instagram, LinkedIn, Pinterest, Telegram, and YouTube.
After conducting in-depth research on the LiteForex online trading brokerage, it’s evident that the broker is highly competent and very reliable. The brokerage provides an excellent selection of online trading platforms to choose from and a wide array of tradeable assets to invest in and trade. The level of customer support is phenomenal and LiteForex offers a variety of favorable trading fees based off the trading account the trader chooses. All in all, if you’re looking for a reliable online trading brokerage to trade forex and other financial assets, LiteForex could be the broker for you.
The following are the common questions that customers inquired about LiteForex.
Is LiteForex regulated?
Yes, it is regulated by the Marshall Islands Business Corporation Act.
Is LiteForex a scam?
No, LiteForex is a legit broker that’s trusted and used by many.
Where is LiteForex based?
LiteForex is based at Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.