liteforex account types

Online trading on Forex market with minimal spreads on ECN and CENT accounts. A demo account is perfectly suitable to familiarize Clients with the Forex market. Both brokers have more than 10+ years of experience, but FBS remains regulated versus the unregulated nature of LiteForex. While both present a safe trading environment, FBS pulls ahead amid enforceable security measures. If you are reading this article, you’re likely having trouble deciding whether LiteForex or FBS is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.

liteforex account types

Traders who need further assistance can contact LiteForex customer support via live chat which is always convenient. They can also send email to customer support or call them via telephone. The Classic account uses a spread based system and the ECN account, a commission-based system. LiteForex LimeFxs Limited offers two primary live accounts; the ECN account and a Classic account.

Customer Support

You should consider whether you can afford to take the high risk of losing your money. The company puts its social media links here and a feedback section and FAQ, but these sections will not give you direct access to customer support. You will need to head to the “profile” section and then click on the “verification” tab in it to show what you still need to do to complete your identity verification.

Our mission is to help investors to lower risks by providing unbiased reviews and ratings. Unfortunately, you cannot delete an active account in your client profile. You will be required to contact the customer support team to have the issue addressed. To open a demo account, you have to click on the blue Demo Account tab. Besides being the fastest growing online forex broker in Asia and Western Europe, LiteForex has won several industry awards, such as the Best Broker in Asia, Africa, and Latin America. Also, “World Finance,” a leading financial magazine in Britain, has included LiteForex into its “100 World Finance” list.

Trading platform(s) that LiteForex offers

The webinars offer trading lessons and teach traders how to analyze trades and set up trading strategies. Others complimented the broker on the excellent training condition they offer traders, competitive commission, and user-friendly interface. LiteFinance is rated “average” on Trustpilot with a 2.9 rating based on 18 reviews. The “average” rating shows that many clients consider their services satisfactory.

liteforex account types

LiteForex customer support team is highly responsive than most of the other FX brokers in the industry. The user can contact the LiteForex customer support team via phone, live web chat, and email. Also, you can request a response back by filling the Liteforex broker contact us form page. For all account types, a minimum of $50 is required as an opening balance.

Support Service for Customer

Here on PipPenguin, we have also covered MetaTrader 4 and 5 in many of our articles, so we will not be covering specific details on it. Yes, LiteForex Trade and Exchange platform has promotional offers for existing and new forex trading account owners. Trading at LiteForex stands for low floating spreads, no requotes, professional customer support, high-performance trading platform, access to trading signals and exclusive market analysis. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of how we review LiteForex’s product offering.

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If you’d prefer not to have to download the trading software, there is also a web-based MetaTrader 4 WebTerminal, based on HTML5. Overall, LiteForex is regarded as a reputable and trustworthy broker that offers a range of trading services and educational resources to help traders succeed in the forex and CFD markets. Mobile forex apps make forex trading easier by enabling traders to create filters and get the latest information only for selected trading instruments. These apps feature analytical support for precious metals, oil, and a wide range of currency pairs. LiteForex gives customers the opportunity to practice trading without risking their hard-earned money. A demo account serves as a training account, which new clients can use to learn more about trading strategies and improve their trading skills.

LimeFx Review 2023: Are They Safe For LimeFx?

After that, you’ll be required to authenticate the submitted information. Upon doing so, install the broker’s application on your desktop or mobile, and you’re ready. Our educational platform simulates trading for beginners to help them get more familiar with the trading process. This way, the newbies can prepare before calling into action and minimize the risks and possible troubles.

liteforex account types

This type of broker passes on their client’s orders directly to liquidity providers, which are typically banks, without the need for a dealing desk. As a result, STP brokers are typically known for their transparency and faster order execution. LiteForex’s STP model allows clients to experience pricing that reflects current market conditions, which can result in lower trading costs.

Trading Platform

LiteForex offers ECN spreads as low as 0.0 pips on EURUSD for a commission of $10.00 per lot. Commodity CFDs cost between $0.50 and $20.00, cryptocurrencies $0.50, and equity CFDs $0.25 per share. The commission-free Classic account shows elevated floating spreads from 1.8 pips. On the payment methods’ front, LiteForex provides a lot of choices ranging from standard Bank Transfer to electronic payments like Skrill and Neteller. This broker is also known for its ongoing Zero Fees program that relieves traders from the attached fees from each method payment.

The minimum deposit on this account is 50 USD, and transactions start at 0.01 lots. Support is offered for both the MT4 and MT5 trading platforms, Stop Out levels are at 20%, and no interest is charged on surplus funds. LiteForex is a regulated forex and CFDs broker that holds CySEC license for trading services. They are providing limefx broker reviews trading on a popular MetaTrader4 platform and have a great variety of trading accounts that can be used by traders all over the world. Considering they have been on the market for almost 10 years, they managed to create forex trading environment that provides the trading experience that leaves little to be desired.

Preparing the Required Documents and Information for Opening a Forex Account:

LiteForex offers an automatic withdrawal feature that enables traders to withdraw funds up to 100 USD per day within 24 hours, which is available on Skrill, Perfect Money, and Neteller. Note that withdrawal requests are processed manually by the Financial Department during its working hours and are processed within one working day of the date of submission. Bank wire transfers can take up to five working days to be processed, depending on the sender’s and beneficiary’s banks’ operation speed. LiteForex also insures all client money through the Investor Compensation Fund (ICF). The objective of the ICF is to secure any claims of covered clients against members of the ICF by paying its clients compensation in the event that the company is liquidated.

  • Forex traders should be smart enough not just to make lucrative trades, but also to choose a broker who can best meet their requirements.
  • 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 objective of the ICF is to secure any claims of covered clients against members of the ICF by paying its clients compensation in the event that the company is liquidated.
  • All applications and their contents are supported in more than eight languages and are regularly updated.
  • LiteForex provides its traders access to two trading platforms – MetaTrader 4 and MetaTrader 5.

A bonus is that one does not have to be a LiteForex Trading client to access this material. It also provides its clients negative balance protection, so that they cannot lose more than is in their trading accounts. As a broker operating out of St.Vincent and the Grenadines, where the FSA publicly does not regulate brokers, LiteForex remains an unregulated but duly registered entity. Regrettably, traders must entirely rely on the 15+ years of experience plus the LiteForex reputation, as it fails to offer additional security features. FBS operates with a regulatory license under oversight from the Belize International Financial Services Commission (IFSC).

  • LiteFinance broker supports the web and mobile versions of the popular MetaTrader 4 and MetaTrader 5 platforms.
  • The customer support team can be contacted through live chat or e-mail 24/5 and phone call 12/5.
  • This variety of instruments allows traders to find what they want to trade on the platform, whether they are beginners or experienced traders.
  • LiteForex is a reliable and safe Forex Trade platform in terms of its regulation and safety protocols.
  • Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device,
    anytime and anywhere you want.

It has a margin calculator and a Fibonacci calculator for executing accurate trades. The company gives its client additional access to the expert support of Claws & Horns. According to the reviews, this analytical agency is a leader in providing best-in-class analytical tools to its users.