LiteForex Limited is an established CFD and forex broker. Clients can trade on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms using multiple deposit and withdrawal methods. This LiteForex review will provide insight into the sign-up process, contacting customer support, as well as bonuses and leverage; helping you to make an informed choice.
LiteForex Overview
LiteForex Limited was founded in 2005. It boasts 500,000 clients worldwide and has headquarters in the Marshall Islands. The group also has offices in the Philippines, Kenya, Myanmar, Tanzania, Ghana, Nicaragua, India, Indonesia, Vietnam, Iran, and a recently opened office in Lagos, Nigeria. To cater to its global audience, the owner has ensured the website and platform are available in English and 14 other languages.
Note LiteForex (Europe) Ltd operates as a separate broker offering trading services to clients from Europe.
Trading Platforms
LiteForex Investments Limited offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. Developed in 2005 and 2010 respectively, these systems have become the foremost platforms for online forex and CFD trading.
The platforms can be downloaded to Mac or PC devices. Alternatively, the WebTrader interface lets you trade directly from an online browser. The setup and verification process is quick and intuitive so users can start trading within minutes.
Both downloadable platforms are user-friendly while the web terminal offers extensive customization. They come in multiple chart types including, line, candlestick, and bars. MT5 offers more indicators and advanced analysis tools, including a built-in economic calendar, 21 timeframes, plus a Depth of Market feature. Still, MetaTrader 4 remains the most popular platform and has everything needed to implement successful trading strategies.
Assets & Markets
Trading assets available to all account holders include:
- Currency – FX trading is available 24/5 on major, minor, and exotic pairs
- Commodities – Trade gold and oil 14/5 with consistent liquidity
- Global stock indexes – Trade CFDs on major global indices, including the US30 (Dow Jones)
- Cryptocurrency – Popular crypto pairs, including Bitcoin, provide an alternative to traditional markets
Spreads & Commissions
LiteForex Investments Limited takes its fee from the spread. Spreads are specific to the account and asset being traded. The Classic account uses a spread-based system and the ECN account, a commission-based system. The commission is charged at $5 per lot.
Spreads are generally competitive, although major currency pair spreads can be around 2 pips, which is relatively high. On major indices such as the FTSE 100, spreads begin at 1 point.
Leverage
Leverage up to 1:500 is available. When signing up, users can select the leverage they desire. Details of the margin call process can be found in the FAQ section of the broker’s website.
Mobile App
Mobile trading is available through the MT4 and MT5 platforms. The apps are available to download free of charge on both Android (APK) and Apple (iOS) devices. Users get signals, news alerts, and a range of price analysis features for different trading strategies. The mobile apps are also easy to navigate and available in eight different languages.
Payment Methods
Traders can deposit directly into their LiteForex Investments Limited account via:
- Credit/debit card (Visa & Mastercard)
- Bank transfer
- WebMoney
- CentrePay
- Neteller
- Skrill
Deposit options include; Alipay, Yandex, and Dengi. The minimum deposit for all accounts is $50 and payments are usually processed on the same day. Clients can also fund their accounts with cryptocurrencies, such as Bitcoin.
LiteForex Investments Limited offers an automatic withdrawal feature that enables traders to withdraw funds up to $100 per day within 24 hours and is available on Skrill, Perfect Money, and Neteller. Withdrawal charges are specific to the provider.
Note PayPal is not available.
Demo Account
LiteForex Investments Limited does offer a demo account which is a great way to test the broker and refine your trading strategy without incurring any risk. The sign-up process is straightforward and an account is opened in under a minute.
Bonuses & Promotions
LiteForex Investments Limited regularly offers promotions and contests. At the time of writing, it does not offer a welcome bonus or any promo codes. However, there is a promotional offer to get a rebate on deposit fees, so payments are essentially free. Also, LiteForex Investments Limited runs a ‘Dream Draw’ with a prize fund of $350,000 and a Video Blogger contest with a prize pool of $1,000. The broker also runs trading contests with cash prizes up to $4,000.
See the broker’s website for the latest no deposit bonuses and promo codes in 2021.
Regulations
LiteForex Investments Limited is registered in the Marshall Islands (registration number 63888) and regulated in accordance with Marshall Islands Business Corporation Act.
The company’s address is Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.
Additional Features
LiteForex Investments Limited has a cabinet full of tools to facilitate successful trading including; an economic calendar, a world market news blog, and both a margin and Fibonacci calculator all accessible via the homepage. Additional support is supplied in the form of Claws&Horns’ expertise; an analytical agency providing comprehensive analytical tools.
Account Types
LiteForex Investments Limited offers two primary live accounts; the ECN account and a Classic account.
ECN Account
For professional traders and investors, LiteForex Investments Limited recommends the real-trading ECN (Electronic Communications Network) account. The account offers an interest rate of 2.5% on surplus funds, an unlimited duration of transactions, and trades are delivered directly to liquidity providers. Only the MT4 platform is available to ECN account holders.
Classic Account
The Classic account is available to experienced traders. No interest is paid on surplus funds and no commissions are charged. Both the MT4 and MT5 trading platforms are available. To sign up for an account, select ‘Registration’ which you will find in the top right-hand corner of each page.
ECN vs Classic accounts? Both have their merits, so ensure that you do your research. As accounts correspond to different servers, it is not possible to change the account type once opened, to do so you will need to delete the account.
A Forex Islamic account is a halal trading account and is available to those traders prohibited from conducting trades involving interest rates, owing to religious beliefs.
Benefits
LiteForex Investments Limited picks up particularly good ratings in the following areas:
- Licensed
- Copy trade services
- Social trading platform
- Automated trading – APIs
- Good customer reviews in 2021
- The breadth of assets & trading tools
Drawbacks
The primary drawback is that some users have reported an inability to withdraw funds. Fortunately, the customer support team seem prompt to respond to reported withdrawal problems. Other downsides include the lack of PAMM accounts.
Trading Hours
Trading platforms are open and usable 24/7, however certain markets only permit trading between specified hours. This is something to consider when trading stocks at the weekend, as it is likely margins will be lower and profitability reduced.
Any changes to standard trade hours are reliably communicated by the LiteForex Investments Limited news blog. Also, check for the respective server time where you’re based.
Customer Support
Access to advice can be found via the live chat feature available from the chat logo on the LiteForex Investments Limited website. Once users are passed the login page, the live chat icon will appear in the bottom right-hand corner of the screen. Alternatively, traders can contact customer service representatives by:
- Email – [email protected]
- Phone – 88007072963
Customer support can help with most queries, including internal transfers and admin issues.
LiteForex Investments Limited community forums can also be found on:
The broker’s head office address: Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MN96960.
Safety & Security
LiteForex Investments Limited offers a safe and secure platform and the site is protected with firewalls and isolated servers. LiteForex Investments Limited recommends a VPS to manage trades whilst users’ gadgets are switched off. It is not reliant on an internet connection or power supply and offers a degree of security to web traders.
LiteForex Verdict
LiteForex Investments Limited is a legitimate broker with a lot to offer. There are a good range of tradeable forex and CFD assets, plus the MT4 & MT5 platforms. The website is easy to navigate, the support function easily accessible and there are multiple free analysis tools. The LiteForex Investments Limited brand is largely inclusive and despite its international presence, remains tailored.
In response to whether it is a good broker? Yes, that would be the answer. In response to how LiteForex Investments Limited compares to FXTM, XM, OctaFX, HotForex, or FBS; traders should research thoroughly but this brand has a strong history and is a credible option.
Accepted Countries
LiteForex Investments accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, and Kuwait, Luxembourg, Qatar, and most other countries.
Traders can not use LiteForex Investments from the United States, Japan, and Israel.
Frequently Asked Questions
Is LiteForex regulated?
LiteForex Investments Limited is registered in the Marshall Islands (registration number 63888) and regulated in accordance with Marshall Islands Business Corporation Act.
The company’s address is Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.
Is LiteForex a trustworthy broker?
Yes – it has over a decade of industry experience and is backed up by a credible reputation and customer reviews.
Does LiteForex offer automated trading?
Yes – LiteForex Investments Limited does offer automated trading. EA trading robots are a popular option and the broker’s website provides details on how to start using them with your trading strategies.
Is there a LiteForex demo account?
Yes – LiteForex Investments Limited does offer a demo account. It is a great way to get to grip on the MT4 and MT5 platforms and to explore different strategies.
Does LiteForex offer copy trading?
Yes – to start copy trading users will need an account with a minimum balance. Access the ‘Traders’ section to find all the information on any trader.
| LiteForex Investments Limited is a regulated Forex & CFD broker offering the MT4 & MT5 trading platforms. |
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.
