LiteForex Broker Review 2021

According to many people, LiteForex Broker is the roadmap for many investors who were hesitating to invest heavily in the “Field of Forex” because of great initial deposits and withdrawals. Read the complete LiteForex Review now.

LiteForex

Regulated by CySEC,FCA, MI

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Introduction

LiteForex, a revolutionary Forex brokerage company that was formed back in 2005 and was registered as a Marshall Island brokerage but later on, as time went by, they expanded globally. 
 

The company is HUGELY known for providing the cent accounts 
 

 (means you'll be able to start trading depositing 1$) which left its mark in the online trading sphere.
 

Though they are preliminary based in the Marshall Islands, their global headquarters are located in Kenya, India, Myanmar, the Philippines, Ghana, Nicaragua, Indonesia, Vietnam, Iran.
 

Note: Recently they've fabricated a new operating headquarter in  Lagos, Nigeria.
 

The brokerage is heavily regulated by CySec ( Cyprus Securities and Exchange Commission ) therefore, the traders can feel free and secure at the same time while trading with LiteForex.

Broker Details

  • Minimum Trade Size: 0.01
  • Maximum Leverage: 500:1
  • Minimum to Open Live: $50
  • Established: 2005
  • Address: Ajeltake Road, Ajeltake Island, Majuro, MH96960, Marshall Islands
  • Contact: clients@liteforex.com, 88007072963
  • Regional offices: India, Kyrgyzstan, Nicaragua, Nigeria, Thailand, United Arab Emirats,Vietnam
  • Prohibited countries: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Liechtenstein, Lithuania, Luxembourg, Malta, Netharlands, Norway, Poland, Portugal, Romania, Slovakia,
  • Trading platforms: MT4, MT5
  • Web Trading: Yes
  • Mobile Trading: Yes
  • Currencies: (50+)
  • Cryptocurrencies: (15+) Bitcoin, Litecoin, Ethereum
  • CFD: (50+) Gold, Silver, Stocks, Stock Indexes, Oil
  • EAs/Robots: Yes
  • News Spike Trading: Yes
  • Scalping: Yes
  • MAM: No
  • PAMM: No
  • ZuluTrade: No
  • Deposit Methods:

    Bank Wire, VISA, MasterCard, Bitcoin, Bitcoin Cash, Bitcoin Gold, Ether/Ethereum, Litecoin, Local Bank Deposits, Monero, Neteller, PerfectMoney, Qiwi, Skrill, Yandex Money

  • Withdrawal Methods:

    Bank Wire, VISA, MasterCard, Bitcoin, Bitcoin Cash, Bitcoin Gold, Ether/Ethereum, Litecoin, Local Bank Deposits, Monero, Neteller, PerfectMoney, Qiwi, Skrill, Yandex Money

Trading Conditions

LiteForex, being the reputed and regulated broker they are, now providing 2 types of trading account for online market traders and it simply goes like this:
 

  • ECN Accounts
  • Classic Accounts
     

Now, let's get a closer look at the trading accounts, shall we?
 

Well, to be frank, the ECN (Electronic Communications Network) accounts are probably well organized for traders and investors who deal with stuff professionally. 
 

Simply, it's for professional figures only. Moving on, the ECN account offers an almost 2.5% interest rate on remaining funds also the transaction limitations are close to unlimited.
 

Note:  ECN  advantages are only available in MetaTrader 4 trading platform only, you won't be getting it on the 
 

MT5 accounts.
 

Moving on to the classic trading accounts and which are available for both beginners and advanced level traders. Besides, the classic accounts don't require any additional charges on the remaining funds. Also, you'll be getting access to both MT4 and MT5 trading platforms with the classic trading account. 
 

And it doesn't end there!
 

Thinking about all the religious Muslims across the trading sphere, LiteForex has brought in Islamic trading accounts. 
 

Indeed a bizarre move from LiteForex!
 

Apart from that, with LiteForex you’ll be getting the availability of both instant execution and market execution at the same time. So, feel free to start trading.
 

Islamic Accounts: 
 

Forex Islamic accounts are solely made for all Muslims across the globe so that they can trade in the Foreign exchange market in the halal way.
 

Islamic trading accounts contain very low interest rates as religious Muslims don't opt for any sorts of interests.
 

Moreover, the minimum required deposit amount is $50 or equivalent and which is applicable for both ECN and Classic trading accounts where the maximum leverage is 1:500. Besides, as per the classic accounts, it comes with higher spreads compared to ECN and the commission rate is $30 per lot. 

Products

It's not only the cent accounts which brought LiteForex to the spotlight rather than that they are also WIDELY known for providing maximum market and trading assets that obviously includes: 
 

Forex: You'll be given access to almost all the major and exotic currency pairs of the current time.
 

Commodities: You'll be able to trade on gold and oil, that too 24/7.
 

Global stock indexes: Now, you can trade across major global indexes which includes the US30 ( Dow Jones ).
 

Cryptocurrencies: Popular cryptocurrencies BTC, LTC, ETH are available to trade for an alternative trading overview.
 

And it’s not even the BIGGER picture!
 

You’ll also be getting access to: 

Besides, To get the full advantage along with  SMART trading experience, join LiteForex from this very moment. Don’t hold yourself too much, alright?

Regulation

LiteForex, preliminary based on the Marshall Islands, is mainly regulated through the Marshall Islands Business Corporation Act under the license number to63888. 
 

Later on, while the brokerage was undergoing a global expansion they got themselves regulated with one of the tightest regulatory bodies from Cyprus.
 

And you guessed it!
 

It's the CySEC ( Cyprus Securities and Exchange 
 

Commission ) therefore, you get the idea. So, if you want to invest in LiteForex then go ahead, do it without having any second thought about the security.
 

You won't be disappointed!

Platforms

Trading platforms are more than enough to define the status of a brokerage. Keeping that in mind LiteForex Ltd. is providing 2 of the BEST trading platforms of the current time and which are:
 

  • The MetaTrader 4
  • The MetaTrader 5
     

Let's face it!
 

We all know how the MT4 and MT5 perform in live trading and we're not even making this up.
 

There are actual proofs to back this up.
 

Besides, you'll be eligible to use them both on windows and mac and that too simultaneously. Also, the web trading platform is pretty decent as it's heavily customized and offers plenty of features.
 

Despite all this, The trading platforms offer, amplified charts, patterns, trading indicators, economic calendar, 20+ timeframes, and much more!

Mobile Trading

Mobile trading apps are blowing up in recent days. We really can't deny the fact that we're more attached to our smartphones rather than anything else.
 

Therefore, mobile trading apps can come in handy.
 

Keeping that in mind, LiteForex offers its own user-centric along with well customized mobile trading app which operates on the MT4 and MT5 trading platforms. You'll be getting market alerts, price predictions, technical analysis, trading strategies through the app.
 

Besides, the app is available for both android and ios devices also features eight different languages for traders across the globe.
 

Bonus & Promotion

Like all the other brokers, LiteForex also renders various trading bonuses to its clients. Though they don't provide any no deposit or welcome bonuses, you might get some percentage from your deposited amount. 
 

And for that, follow the method stated below:
 


 

Moving on, you can also win a decent prize pole by participating in the demo and live contests which they hold from time to time. In the demo contests, you might win about $2,000. Besides, in the partner's contests, there's a fair chance of winning $25,000 all for yourself.

Deposits & Withdrawals

LiteForex allows a vast range of transaction methods so that the traders don't face any unnecessary hassle while undergoing the deposit or withdrawal process. They allow:
 

  • Web Money
  • All sorts of cards including Credit, Debit, MasterCard, and Visa.
  • Direct bank transfer
  • Neteller, Skrill
  • CentrePay, Alipay and Dengi.
     

Note: You can also use several cryptocurrencies such as BTC in order to refund your trading account if they don't permit Paypal.
 

Apart from that, LiteForex ensures withdrawals within a day but the amount has to be $100 or less otherwise it won't be performed in a day.

Customer Support

LiteForex is widely praised by traders all across the trading sphere for providing an active along with an effective customer support program. 
 

If you have any trading-related queries then you can contact them through their live chat procedure which stays active 24/7. 
 

Apart from that, you can also interact with them through:
 

  • Phone Number: 88007072963
  • Email: clients@liteforex.com
     

Besides, you can find the official community of LiteForex in almost all the renowned social media platforms including Facebook, Instagram, Twitter, Linkedin, YouTube, Telegram.

Research & Education

In the foreign exchange market, learning more has no exception and that's something you shouldn't ignore.
 

Therefore, LiteForex has paved a lot of opportunities for the traders by giving them access to all the learning materials including, educational videos, quality blog posts, news and analysis, trading guides, and much more!

Comparison

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frequently asked questions

You can withdraw money from the trading account via your Client Profile in the "Finance" section, using the same payment systems that have been used to top up the account. Please take note of the Company’s AML Policy (the funds can be transferred to the same purse and in the same currency which has been used for making a deposit), and the level of verification required for different types of withdrawals.

Provided that all accounts belong to you and are located in the same Profile, a monetary transfer from one trading account to another can be carried out automatically in the Client Profile in the section "Metatrader". This type of transaction can be made by clients themselves without the help of the Company’s Financial Department. Money is transferred from one account to another instantly. The number of internal transfers is limited to 50 operations a day.

If you wish to earn with LiteForex, you can choose one of the following types of partnership programs:

CPS

Revenue share

Regional representative

All these programs provide different cooperation opportunities, that’s why you will find for sure the one that suits you best. Depending on your experience, potential and the expected result, you can choose any program which fits you best.

There are no limits on any type of account. The amount you need to conduct trading operations in accordance with your trading strategy in a comfortable way can be calculated using Trader’s Calculator. You can find more detailed information about the types of accounts on the page "Тypes of trading accounts"...

Withdrawal requests are processed manually by the Financial Department during its working hours. According to the Client Agreement, the transfer is performed on a first-come-first-served basis within 1 working day from the date of request. Kindly pay attention to the fact that if you use bank wire transfer, it can take up to 5 working days to process your transaction, depending on the operation speed of the sender’s and beneficiary’s banks.

This type of service ensures that some withdrawals are handled automatically, enabling to reduce the queue-list of withdrawal requests. You are entitled to carry out two instant withdrawals per day provided that the amount of these operations will not exceed 100$ and your Profile’s status is Confirmed. If the status of your Profile is Basic, then you will be able to carry out one instant withdrawal per day and the amount of your withdrawal shall not exceed 50$.
All the features of the service are set out here.

LiteForex Investments Ltd, founded in 2005, is domiciled in Cyprus and regulated by CySEC. They also have a Marshall Islands branch which is subject to a more flexible, looser regulatory regime.

The LiteForex brand was created in 2005 with an aim to provide a transparent and accessible trading opportunity to the world traders and investors.

All review here

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Newlen Tonway

Khulna , Bangladesh
2021-06-01 11:51:58

Very Fast Withdrawal Process

  • Service use : Live
  • Length of use: 0-3 Months

The withdrawal time takes 24 hours where required maximum of 72 hours. Loved their fast withdrawal process.