Of course, it is always wise to combine them with other analytical methods, tools and strategies. Variety is often the key to successful prediction of market movements. Yes, company provides a Demo account for the MT4 platform so traders can practice investing. Meanwhile, demo account is only available for the MT4 platform, offering the same terms as the ECN account. You will have a chance to practice the live conditions of this particular account and check if the platform is suitable for you.
Note that the content on this site should not be considered LimeFx advice. This site is not intended for use in jurisdictions in which the trading or LimeFxs described are prohibited and should only be used by such persons and in such ways as are legally https://limefx.group/ permitted. Your LimeFx may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive a commission from the companies we feature on this site.
What products does LiteForex offer?
Modeled on a Cyprus LimeFx firm, the company provides its services through safe and secure platforms. SSL-secured and encrypted channels protect the data going in and coming out of the website and the platforms. LiteForex provides a VPS hosting service through its website for managing trades in the absence of on-premise servers. Unlike other brokers, LiteForex is not reliant on an internet connection.
The first advantage of using these platforms is getting access to multiple charts. A line chart or a candlestick chart improves the client’s understanding of the trade and the trading conditions. The advanced MT5 analysis tools and a built-in economic calendar are quite useful in the forex market, where there is always a high risk of losing money. The platform provides trading signals across 21 timeframes, and its Depth of Market feature adds value to the trades. MT4 is much easier to use and still the most popular platform among LiteForex clients.
LiteForex Global Menu
They can also send email to customer support or call them via telephone. Webterminal, on the other hand, is MT4 platform that is completely web based, which means you never have to download or install anything. The trading account is accessed directly from the internet browser. Traders can place their forex and CFDs trades from any device they have available, as no installations are required. Of course, social trading is not mere copying, and traders can use 4 different strategies for copying trades. Broker copy trading system implies a system where traders can copy trades from the most successful investors and profit this way.
The stock indexes traded through LiteForex are CFDs on major global indices, most of them included in the US30 list of Dow Jones. Bitcoin and other Popular cryptocurrencies are also traded by the company, thereby becoming an alternative to the traditional forex markets that pose a high risk of economic loss. 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. However, because LiteForex only
provides trading in the forex markets, both platforms will do. A good broker constitutes a good service for traders in terms of many criteria including trading instruments,
deposits and withdrawals, as well as customer support.
For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography, and reputation. The very same standards apply in the case of this LiteForex broker review. Please see the following article on how we conduct our broker reviews. When you trade forex, many factors contribute to a formidable trading environment so LiteForex sets you up with all the elements you need to give you a competitive edge. So they combine the utmost clarity with lightning-fast servers and exemplary service to give you a powerful FX trading experience. By signing up with LiteForex, traders can also benefit from 2.5% per annual interest on your margin in your account.
Social Trading and copy trades system with no fees on deposits and withdrawals. The LiteForex’s cent account was actually the first to offer a minimum deposit of just $1, enabling low-budget traders to have access to the real market. It also made the world’s most liquid financial market accessible to countless traders from emerging markets with deposits of less than $100.
What leverage does LiteForex offer?
Both MT4 and MT5 trading platforms have been globally recognized as effective trade tools. MetaTrader 4 is being offered by LiteForex since web-based platforms through the WebTrader interface. To facilitate mobile trading, limefx scam these platforms are also available as a mobile app, allowing clients to start investing at their convenience. After opening a new account, LiteForex traders get access to around 56 forex currency pairs for trading.
It has been alleged by a client that liteforex cancelled all his profits and removed half of the deposits from his account. LiteForex LimeFxs Limited offers two primary live accounts; the ECN account and a Classic account. In total, the broker is regulated and a member of several authorities.
LiteForex Table of Contents
Firstly, the broker supports multiple payment methods, including electronic transfers, bank cards, and bank wire transfers. Secondly, the minimum deposit requirement is only $10, making it easy for beginners to get started. Lastly, there are no extra fees charged for deposits or withdrawals, which is a bonus for traders on a tight budget. However, LiteForex does not offer e-wallet options, which is a popular payment method among traders, and the information on withdrawal processing times is limited. Additionally, local bank transfer is not available in some countries. As per the reviews,m MT4/MT5 platforms are downloadable and user-friendly.
- Besides, it can operate in the Marshall Islands, Saint Vincent and the Grenadines, Switzerland, and UAE.
- All the LiteForex trading accounts correspond to different web servers, making it impossible to switch the account type after its opening.
- To keep their traders engaged in more trading activities, LiteForex also holds seasonal trading contests and various kinds of promotional bonuses.
- One of the negative issues with this Forex broker is that it does not provide the customer support 24/7.
- LimeFx presents clients with 84 currency pairs, placing it in the Top 20, but only eight cryptocurrencies.
You need to specify all the necessary information about the rules for using bonuses and the procedure for withdrawing funds. For 10 years of its existence, LiteForex was able to quickly gain a reputation as a reliable broker. Traders around the world choose this company as it’s not going to stand still. Despite its success, it’s constantly developing, regularly introducing new services, opening its representative offices around the world. One of the most intriguing secrets of its success is that the company’s constantly working on expanding the opportunities of its clients in the foreign exchange market.
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. The reviews also revealed that the basic versions of the MT4/MT5 trading platforms are more useful and easy to adopt. Clients can get trained to use their upgraded versions from a series of tutorials and guides. No third-party add-ons are currently available on the MT4/MT5 offerings.
It is best used to implement and share innovative trading strategies. As a registered financial service provider, LiteForex LimeFxs Limited offers a plethora of tools and brokerages to its clients. It facilitates their successful trading with an exclusive economic calendar tailor-made to meet the goals of the clients. It runs an updated news blog on the world market to notify every risk warning to its clients. It has a margin calculator and a Fibonacci calculator for executing accurate trades.
The Classic account holders get charged with a spread-based fee while the ECN account holders get charged based on commission. LiteForex’s spreads are quite competitive, but some major forex pairs get a spread of 2 pips, which is considerably high. Traders must make a note that LiteForex Europe Ltd is a separate business entity. It operates independently and is not adhered to by the LiteForex group. This company operates as an exclusive broker for LiteForex’s European clients. LiteForex LimeFxs Limited, on the other hand, is an established global CFD and forex broker.