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When individuals register, they have the option of selecting their preferred level of leverage. The margin call procedure is detailed in detail on the broker’s website in the FAQ section. Needs to review the security of your connection before proceeding.
LiteForex LimeFXs Limited offers the MetaTrader 4 and MetaTrader 5 trading platforms. These two platforms, which launched in 2005 and 2010 respectively, have grown to be the most popular for online forex and CFD trading. Like many other Forex brokers LiteForex have decided to offer their clients MT4 and MT5 for their trading platform. MetaTrader mobile is also available for those who prefer to trade using their mobile devices. If you’d prefer not to have to download the trading software, there is also a web-based MetaTrader 4 WebTerminal, based on HTML5.
- Both beginners and advanced traders can benefit from the available educational materials.
- The firm offers very limited payment methods, and none of them is known to us.
- I joined their April month contest and I manage to win the 1st place with supposedly I am to receive a $4000 bonus that I can use for trading.
- This may impact how, where and which products / companies / services we review and write about.
- The firm licenses from specific financial authorities but they are not enough to ensure complete safety.
- I am not your consutant but I think that if you change accordingly your terms and conditions then traders will better understand your rules and decide if they agree or not to the contract.
No, this brakerage company is not available for traders coming from the USA, Japan, and Israel. Broker offers trading with currency pairs, commodities, indices, and cryptocurrencies. However, it’s still a lot weaker than some of the regulated brokers. The offshore entity has restrictions from providing services in the EEA zone.
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This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. As such some of the information found here may be out of date. An account can be opened within 15 minutes via the company website. LiteForex Europe is regulated by CySEC, making it relatively safe. LiteFinance Global is regulated offshore and offers few protections.
Also, support representatives can easily be contacted 24 hours a day, 7 days a week via live chat, email, support forums, and telephone support that supports call back functionality. Therefore, traders will always be able to get in touch with a representative easily and quickly. Also, traders can interact with representatives via the brokerages various social media channels including; Facebook, Twitter, Google+, Instagram, LinkedIn, Pinterest, Telegram, and YouTube. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information.
Should I Trade with LiteForex?
The broker offers several trading financial instruments from different markets of the world. The assets range includes stocks, shares, metals, indices, currency pairs, and financial derivatives. The broker can use trading platforms and tools to facilitate their trades. The buying limefx courses scam and selling of these products are free, and the broker earns from spreads. LiteForex is a large and established online trading brokerage who serves the international markets by accepting traders from around the world and offering their services in over 10 languages.
There are many brokers who claim high returns, but its better to go with consistent return rather than high returns. This service have good opportinites for investors but i think that this service should have more options for proffessional traders. I hope that in future LiteForex will upgrade thier platform. Please contact our support team via email or via live chat on our site and you will get answer in any day except Saturday and Sunday. Also you can send copy of your letter to my email I will resend it to our specialists with whom you can discuss all your questions.
Opening an account on the LiteForex broker’s website is quite simple. You can deposit and start trading in the platform immediately after that. To switch to a demo account, you need to click on your login in the upper right part of the screen. This service is available to all clients of the broker regardless of the account size.
In Which Countries Does This Broker Work?
According to online trader reviews, the EUR/USD spread starts very low at 0.0 pips for the ECN account holders. This commission is likely to increase to $30.00 per lot if the currency pair performs exceptionally. The spread commissions on commodity CFDs are in the range of $0.50 and $20.00 per trade. The commission on cryptocurrency trades is set at $0.50. Equity CFDs can be traded at $0.25 commission per share. For the commission-free Classic account, clients get elevated floating spreads, which start at 1.8 pips.
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A variety of payment systems for fast depositing and withdrawal of funds
The unexplained move of its headquarters from one unregulated Forex jurisdiction to another raises red flags. Since rebranding, LiteFinance lacks transparency across its core trading environment. Until this broker fixes its issues and returns to the same standards established over 15 years as LiteForex, I advise extreme caution. Taking into account the convenience of the platform, its good reputation, as well as convenient and diverse trading conditions, we can safely recommend trading with LiteForex. LiteForex mobile trading apps are free of charge and are available in app stores for Android and IOS-based systems.
You can become a provider, duplicator or follower, or you can combine the three roles. LiteFinance has attracted many allegations of cancelled withdrawals. LiteFinance is an unregulated Forex and CFD broker operational since 2021 out of St. Vincent and the Grenadines, with a subsidiary regulated in Cyprus. It operated out of the Marshall Islands as LiteForex before its relocation. You need to go to the “Finance” section located on the left side of the screen inside the web platform where the client gets after authorization. Each of the applications has 8 language versions and covers the widest possible audience.
LiteForex broker is a large international company operating in the financial market since 2005. A distinctive feature of the company is its focus on working with the widest possible range of clients. LiteForex enabled cent account trading right after its launch. Let’s explore how good this broker’s conditions are at the moment, in 2020.
- However, International accounts are under the Marshall Islands entity.
- I will continue to trade with this broker, everything is going well for me.
- Disregarding the problem with phone support, we rated the customer support experience at LiteForex as good.
- LiteForex does not pay profits and steals trader’s money.
- Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing.
Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. LiteFinance maintains one regulated subsidiary for EEA, UAE, and Marshall Islands-based traders. LiteForex LimeFXs Limited is a reputable broker that provides a comprehensive range of services. The MT4 and MT5 platforms are offered, as well as a diverse variety of tradeable FX and CFD products.
Is LiteFinance regulated?
Since they have official CySEC regulation, they do not mention their offshore entity before assigning clients there. Meanwhile, LiteForex MT4 is one of the best platforms in the industry, as any MT4. The platform is the favorite of many traders thanks to a high number of indicators and a vast number of trading features. LiteForex is yet another https://limefx.group/ broker with a suspicious regulation and an offshore entity. For clients to fully understand who they’re dealing with, we prepared this unbiased LiteForex review. No, LiteForex is not a scam, one of the entities is based in Cyprus while also regulated and set according to CySEC regulatory obligations and compliant with MiFID European directive.
The powerful MetaTrader platform is also available via desktop. If an account is inactive for 180 consecutive days, LiteForex charges a maintenance fee of €3 per month. Spreads in the Classic Account are relatively wide, making it more expensive to enter and exit trades. Overall we rated LiteForex as not highly competitive in terms of fees. LiteFinance Global LLC is incorporated in St. Vincent & the Grenadines as a Limited Liability Company with registration number 931 LLC 2021. We rate brokers overseen by the St. Vincent & the Grenadines Financial Services Authority as unregulated.
The team is smart and polite in resolving the queries and supports multi-languages. There is a dedicated FAQ page for users to answer their most common questions. Further, the team’s average response time was less than a minute. The broker is also a member of the LimeFX Compensation Fund which protects the users in cases like bankruptcy. The team at MyChargeBack – a specialist group dedicated to helping consumers recover funds lost online – is available 24/7 and has helped consumers all over the world recoup millions of dollars. Be careful and verify your information through multiple sources.
Freely downloadable applications for trading via mobile devices are always at hand. LiteForex offers demo accounts for the web-based platform, mobile app and MetaTrader desktop platform. Demo accounts are beneficial for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking any real money. The spreads and commissions offered by the company are based on a unique fee structure.