It is generally satisfied by a copy of the trader’s ID and one proof of residency document. Here is a screenshot of quotes at LiteFinance during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Despite 16 years as a brokerage, LiteFinance, previously known as LiteForex, appears to undergo unfavorable changes. It could explain its corporate headquarters move and expansion into less-regulated cryptocurrency xcritical website activities. Regrettably, none had a positive impact, making LiteFinance a less transparent, secure, and trustworthy brokerage. Liteforex (Europe) LTD provides services only to the residents of countries from the European Economic Area (EEA), the United Arab Emirates, and the Marshall Islands.Full list of countries is available here.
Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based LiteFinance ECN account. I recommend traders evaluate LiteFinance as a new broker with limited experience and dismiss any goodwill and trust xcritical reviews LiteForex created over 15 years. The most recent developments, starting with the launch of LiteFinance Global LLC, raise notable concerns. They contain lots of practical insights, e.g. how to use intraday trading strategies, Fibonacci retracements, etc. LiteForex offers multilingual support available 24/5 via live chat, email, and phone.
Successful Forex traders in the currency market share their experience and working strategies to make money
I also concluded that LiteForex is pretty upfront about its trading fees. Furthermore, the costs mentioned on the website match the live quotes on the platform. Its license from CySEC is easily discoverable on the website, and traders can verify it fairly quickly.
It is comprised of regular market updates that inform traders of xcritically unfolding trading setups. Each article consists of an economic breakdown and a technical setup supported by a chart. LiteForex offers robust research content catering to the needs of novices and experienced traders alike. The broker offers market breakdowns developed in-house and also incorporates content from Claws&Horns. The broker also offers Islamic accounts for swap-free trading, as mandated under Shariah law.
User Experience
The authors of trading blog inform the readers on the latest changes in the Forex market and provide up-to-date technical analysis with a detailed study of price charts. Our authors publish their original profitable Forex trading strategies and selections of graphic price patterns. As you consider your options for online trading, LiteFinance stands as a solid choice, offering the tools, resources, and support you need to confidently navigate the financial markets.
Facebook (Meta) Stock Price Prediction: 2024 and Beyond
Whether you’re a seasoned trader or just starting your journey into the world of finance, LiteFinance has something to offer. It presents traders with an ideal environment to test EAs and new strategies. The web-based trading platform allows a $10,000 demo account without registration, a convenient method to get familiar with its functionality. I caution beginner traders about using a demo account as an educational tool.
- However, the broker generally charges high trading fees on its Standard account and provides extremely limited instrument offering of about 70 assets.
- Our Forex blog is an independent source of useful information on financial markets, forex xcriticalgs and cryptocurrencies for traders and investors.
- LiteForex offers robust research content catering to the needs of novices and experienced traders alike.
- As such, all trading and client activity is regulated by the Cyprus Securities and Exchange Commission.
LiteFinance
Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.