Review of LiteForex
Last year Liteforex got new look.
Impression: LiteForex can be defined as an upcoming Forex trading dealer who provides trading in a straight and simple manner. This company has been established since the year 2005 and can also provide accounts with as few as $1, which in turn makes it a right place from where one can study the markets. This dealer has also to pay an interest of nearly 3.5% in the form of the account’s balance which is included in the trading. This in turn provides a way to raise the profits with time.
LiteForex is a broker in the Forex industry that provides market-standard MetaTrader 4 trading platform. In this sense, they are as same as several other brokers who utilize this platform. It is believed that LiteForex had a plan to differentiate their name from the group and they actually did it by executing a minimum deposit of $1 for starting trading which is regarded as a huge benefit over large numbers of brokers who have a minimum deposit of $100. However, in this review we observed that this broker might give a run to LiteForex for money as it provides various cent accounts.
LiteForex when compared with the other brokers reviewed by us, mainly focus on the overseas exchange market. Also, it does not preoccupy to provide trading on various other trading markets. This can be regarded as a drawback, but in such a case, I believe that it has added to the excellent offering of LiteForex. As they mainly focus on Forex, they ensure that their offerings are on a high level every time.
As discussed, LiteForex handles everything with MetaTrader 4 which signifies that one can do trading with all whistles and bells provided to traders in the Forex market in the whole world. Some of the popular trading features are Take Profits, Stop Losses, Limit Orders, Instant execution technology and many more. This trading company makes sure to distinct them from the competition by providing several features that are not supported by an average forex trading broker.
LiteForex utilizes MetaTrader platforms numbered 4 and 5. Both of these trading platforms are popular and have been able to place millions of trades every year. It also provides a platform which is web-based. This particular platform is generally used for monitoring various positions rather than analytics because it is regarded to be more basic when compared with the various trading platforms.
At first, let us discuss about mobile trading. All of us know that the industry of mobile is flourishing and as a whole, the Forex trading industry has not yet been able to reach that position. Most of the brokers do not provide mobile support. LiteForex offers support to mobile trading with MetaTrader 4 platform for trading which can be easily downloaded for a mobile device. One of the biggest advantage about which I have not yet discussed with any other broker is a capability to start a LiteForex account along with a US dollar. Do not misunderstand. The value included in it does not mean that you will become a millionaire since the day you invest $1 because this is not possible. What it provides is a mean for the new traders to collect experience in the world of trading with a minimum investment. According to me, it is worth over than real money through which one can make an investment of $1.
Liteforex Deposit and Withdrawal :
No need to mention, this is regarded as great PR and a marketing step as far as LiteForex is concerned and this differentiates them from the group. Liteforex also provides a standard demo account at free of cost along with advanced trading tools like for example, market analysis, history of trading and definitely an ability to do trading with high amount of leverage in case one is not so much inclined. They also provide different kinds of accounts in order to meet the growing demands of the traders on various experience levels, something which I have not met with while contacting many forex brokers. With the help of LiteForex processes like deposit, registration and withdrawal becomes simple and easy. Moreover, one can also start an account by using any of the payment methods like money bookers, Liberty Reserve, Webmoney, Alert Pay and bank ware.
The withdrawal procedure with LiteForex is regarded as painless with some popular traders reporting about a minimum withdrawal delay of few than 48 hours. The company also supports more than 40 pairs of currency with spreads as majors start to fluctuate around 3-4 pips. It also provides a policy of no-commission, which is regarded as another biggest advantage when compared to other past brokers reviewed by us.
It provides call center, a feature known as call back, forum rooms and live chat in the form of customer service. With the help of this customer support, one can always contact with a representative when in need.
The website of LiteForex is found in fourteen different languages. It is regarded as an important indication that strives hard towards excellence. Another important feature that I liked about LiteForex is it offers state-of-art consumer solution which depends on advanced chatting room through which you can have a discussion with representative and other traders in different languages like French, Portuguese and Spanish. They also provide training regarding Forex on their website consisting of several informative articles on varieties of topics, especially if you are a beginner in this field. Moreover, with the chat facility they also offer basic information like phone numbers and email address and are always available for answering any kind of questions, every time.
The company, LiteForex has been in the industry for more than 6 years. Since its establishment, the company is regarded to be reliable. The trading platforms known as MetaTrader platform 4 and 5 are popular as well as reliable.
Spreads and Commissions
LiteForex provides floating spreads without any charge. Most of the important pairs are placed within a parameter of 2-3.
The company repeatedly offers different kinds of promotions and during the writing time provide an additional $200 to the account of traders for the purpose of joining.
The company is an upcoming player in trading markets. Trading spreads are regarded as good and also has the capability to deposit several options. This is regarded as a huge advantage. The forex dealer is considered as a perfect place for the beginners due to the capability to start an account with a small amount of capital.
LiteForex was found in 2005. Since its establishment it has been able to make a worldwide presence all around the world with its several offices located in different parts. The declared mission of LiteForex is to offer several opportunities for people living in different corners of the world for trading in the financial market under similar conditions like the traders who operate in financial institutions and centers. With an advanced platform of trading, customer support and wide ranging features, I believe that they are ready to achieve the goal.
1. Variable spreads. It helps in keeping the spread in a tight position which is regarded as one of the huge expenses a trader can handle.
2. MetaTrader platform is popular and reliable. Traders have been using since several years and is considered as stable.
3. One can start an account with as few as $1.
4. The procedure of deposit is fast and simple as one can utilize a bank wire, debit, and credit cards, Liberty Reserve, MoneyBookers, WenMoney, Perfect Money and Alert Pay. Also, it helps in performing withdraw in an easy manner.
1. This is limited to Forex, so when one is planning to trade with other markets, they have to look for another broker.
2. Variable spreads is considered as a problem during the news events, provided if one plans to scalp the announcement of news.