LiteForex Review | Forex Broker Review & Rating

Our Review Method

• Forex BD leading financial experts with over 10 years experience in Forex Trading check trading offering in detail including fees, platforms, verified licenses, contacted customer service and placed traders to see trading conditions and give expert opinion about LiteFinance.

What is LiteForex ?

LiteFinance is an online Forex and CFD trading broker that provides trading services to retail clients around the world. The company was founded in 2019 and is registered and regulated by the International Financial Services Commission (IFSC) of Belize. LiteFinance offers a range of financial instruments, including forex currency pairs, commodities, indices, and cryptocurrencies. The broker uses the MetaTrader 4 (MT4) platform, which is a popular trading platform in the industry. LiteFinance offers different types of trading accounts to cater to the needs of different traders. The broker also provides educational resources, including webinars, video tutorials, and an extensive FAQ section. Overall, LiteFinance is a reputable forex broker that aims to provide a reliable, transparent, and user-friendly trading environment for its clients.

• One of the key advantages of LiteFinance is its low spreads and fast execution speeds. The broker offers three types of trading accounts: Standard, Raw Spread, and cTrader. Each account type has its own pricing model and features to cater to different trading styles and needs.
• The Standard account has no commissions and features variable spreads, while the Raw Spread account offers raw spreads with a small commission per lot. The cTrader account is designed for ECN trading and offers tight spreads and fast execution speeds with a commission per lot. All three account types provide traders with access to the MetaTrader 4 and 5 platforms, which are widely used in the forex industry.
• LiteFinance also offers traders a range of advanced trading tools and features, including the MetaTrader Supreme Edition, which is a plugin that adds over 60 additional features to the MetaTrader platform. The broker also offers VPS hosting, which allows traders to run their trading strategies 24/7 without interruptions.

Overall, LiteFinance is a well-regarded forex trading broker that provides traders with competitive pricing, fast execution speeds, and advanced trading tools. With its range of account types and educational resources, LiteForex is a suitable option for traders of different skill levels and trading preferences.

LiteForex Pros and Cons

Pros of LiteFinance:

1. 1. Regulated broker: LiteFinance is a regulated forex broker, which means that it is bound by strict regulations that are designed to protect traders.

   2. Low spreads: LiteFinance offers low spreads, starting from 0 pips, for some of the major currency pairs, making it an attractive choice for traders who want to keep their trading costs low.

   3. User-friendly trading platform: LiteFinance uses the popular MetaTrader 4 (MT4) trading platform, which is known for its user-friendly interface and advanced charting tools.

   4. Educational resources: LiteFinance provides a range of educational resources, including webinars, video tutorials, and an extensive FAQ section, which can be helpful for traders who want to improve their trading skills.

   5. Range of trading instruments: LiteFinance offers a wide range of trading instruments, including forex currency pairs, commodities, indices, and cryptocurrencies, giving traders a variety of options to choose from.

   Cons of LiteFinance:

   1. Limited history: LiteFinance is a relatively new forex broker, having been founded in 2019, which means that it has a limited trading history compared to some of the more established brokers in the industry.

   2. Limited regulation: LiteFinance is regulated by the International Financial Services Commission (IFSC) of Belize, which is a less stringent regulatory body compared to some of the more reputable regulators, such as the Financial Conduct Authority (FCA) in the UK.

   3. No US clients: LiteFinance does not accept clients from the United States, which may be a disadvantage for traders who reside in the US.

   4. Limited research and analysis: While LiteFinance provides some market analysis and news, it may not be as comprehensive as the research and analysis provided by some of the larger brokers in the industry.

   5. No social trading: LiteFinance does not offer social trading, which may be a disadvantage for traders who want to follow the trades of other successful traders.

LiteForex Review Summary in 10 Points

Headquarters	Sydney, Australia
Regulation	CySEC, FCA, DFSA, FSCA, FSA
Platforms	MT4, MT5, cTrader, Web Trader
Instruments	170+ trading tools with Forex, Indices, Metals, Energies, Shares, Commodities, Bonds, ETFs, DMA Stocks, and Cryptocurrencies
Demo Account	Available
Minimum deposit	5 US$
EUR/USD Spread	0.0 pips
Base currencies	Several currencies available
Education	Trading Academy, Webinars Seminars, Numerous Tools
Customer Support	24/5

Overall LiteForex Ranking

Based on our Expert finds, ICM provides good trading conditions that might be some of the best for Forex trading and CFDs trading, also available in a global scale for international trading. LiteForex is suitable for various traders including European clients, Africa and Asia traders, also beginning traders and experienced looking for good technical trading solutions.

• LiteForex Overall Ranking is 7.6 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

 

Ranking	LiteForex	ForexPixel	Tickmill
Our Ranking
Advantages	Education	Spreads	Platforms

Why LiteForex?

• Here are some reasons why a trader might choose LiteFinance as their forex trading broker:

  1. Low spreads: LiteFinance offers low spreads, starting from 0 pips, which can help traders keep their trading costs low.

  2. Range of trading instruments: LiteFinance offers a wide range of trading instruments, including forex currency pairs, commodities, indices, and cryptocurrencies, giving traders a variety of options to choose from.

  3. User-friendly trading platform: LiteFinance uses the popular MetaTrader 4 (MT4) trading platform, which is known for its user-friendly interface and advanced charting tools.

  4. Educational resources: LiteFinance provides a range of educational resources, including webinars, video tutorials, and an extensive FAQ section, which can be helpful for traders who want to improve their trading skills.

  5. Regulated broker: LiteFinance is a regulated forex broker, which means that it is bound by strict regulations that are designed to protect traders.

  6. Competitive leverage: LiteFinance offers competitive leverage, which can allow traders to take larger positions with a smaller amount of capital.

  However, it is important to note that every trader has different needs and preferences, and it is essential to do thorough research and due diligence before choosing a forex broker.

Leverage

While trading with HFM \ HotForex we fount availability of fixed or floating leverage, which is indeed a very useful tool, especially for traders of smaller size. Leverage brings an opportunity to increase your potential gains through its possibility to multiply balance in a particular number of times. Yet remember that leverage may work in reverse too, defining also your risks, that is why it’s so important to understand how to use tool smartly.

• HFM \ HotForex ( hfm.com )offers various leverage levels from the “modest” one as determined by European regulations allowing 1:30 for Forex instruments, and up to very high ratios of 1:500 available via international branch. Yet, again always make sure to learn about high risks of leverage, as retail trading accounts lose money rapidly due to high leverage.

Therefore, your leverage levels are firstly settled according to the regulatory requirement in the region or another also your prof level in finance, so make sure to verify with the customer support team which one you entitled to.

Account types

LiteForex provides an variety of account options with 5 different accounts based on specific requirements. The range offers ECN, Zero spread, Standard, VIP Accounts also you can select the Islamic Account suitable for traders.

• From the very beginning, you may sign in for Demo Account and then transfer it to a Live one just by depositing money.
• Each of the account types brings good flexibility and allowing to choose based on your trading strategy, allowing either beginning traders, investors or professionals to find its own way in trading.
• Another good point we admit is the opportunity to trade Micro lots, use Cent or Nano account, or specify account for Copy Trading. You may see below in our HICM Review snapshot below details of each, also negative and positive points to consider:

How to open LiteForex Demo Account?

To open a Demo account is pretty easy since there is no verification is needed at this step, we were able to open demo account in minutes. While you should simply follow the process of risk-free account opening on ICM website and get access to either MT4 or MT5 platforms with unlimited demo funds. So here is the step by step process of Demo Account opening:

Opening Trading Account step by step:

1.       Go into LiteForex Demo Account Sign In page

2.       If you are a new client enter your personal data First and Last Name, Country of residence, email, phone, etc. Or in case you’re existing client follow sign in LiteForex

3.       Fill in all required information for the first register of LiteForex

4.       An account will be approved almost immediately, where through your client area you can get access to New Demo Account, next you can follow with Live Account submit to manage your funds

How to open LiteForex Live account?

Once you ready or decided to start Live Trading you can submit for a Live account where LiteForex may ask you for confirmation of your documents including identity, residency and other proof before you start. In both cases, you will get access toLiteForex client area where you can manage all your accounts and finances.

What Instruments I can trade in LiteForex ?

One of the HFM Pros also is offered market range that includes 25 trading tools and 200+ trading products with access to global markets. These include Indices, Metals, Energies, Shares, Commodities, Bonds, ETFs, DMA Stocks, and included for last years offering to trade Cryptocurrencies with Bitcoin, Ethereum, Litecoin, Ripple and more.

LiteForex Fees

HFM trading costs mainstays at the tight spread offering in general andl bringing some of the most attractive spread opportunities among the industry as we conclude based on our research, also proposing spreads from 0 pips on some accounts. However, is good to check on the additional, non trading fees and charges for deposits or withdrawals all in all concluding your trading costs, see fee table below:

• LiteForex Fees are ranked average, low with overall rating 8 out of 10 based on our testing and compared to over 500 other brokers. Fees are different based on entity, yet traders can use free deposits and withdrawals mainly worldwide

Overview of the Non Trading Fees

Important to consider, there is a fee charged in case you didn’t use your account and show no activity for 6 months or more. After this your account entitled to 5$ LiteForex inactivity fee per month.

Despite this, there are no deposit fees or some of the withdrawals are free as well, which we will see in our IC Markets review further.

Web Trading Platform

MT4 and MT5 ICmarkets terminals available in various versions that suit your personal needs and allows efficient trading through the Desktop Platform, WebTerminal which is compatible with any browser. Or by the use of MT4 MultiTerminal with access to manage multiple accounts simultaneously, however desktop version still remains the most complete with all features and add-ons available there.

Mobile Trading Platform

Of course, there is a mobile trading platform as well a IC markets Mobile Application with an option to trade “on the go”. MT4 and MT5 mobile trading are actually known for its advanced capabilities and interactive charts with almost the same productivity as its full versions. Besides, there are over 30 technical indicators and 24 analytical objects, so mobile capabilities are truly great, and we enjoyed testing it too.

IC Markets Platform Look and Feel:

Does HFM \ HotForex allow scalping?

Yes, HFM \ HotForex allows scalping and places no restrictions on the strategies, however various entities and regulations may apply some conditions so you better always check terms and conditions.

Particularly about scalping, there is no restriction and HFM \ HotForex range of accounts alike with Zero spread may assist you even better to trade this strategy.

How do I manage my risk?

While placing an order you should manage your risks smartly while tools like Limit Order and Stop loss orders will assist you, since they are the most basic risk management toos. Stop loss will set a particular position to be automatically closed at the predetermined price, sot that you won’t lose more than you define. Also, HFM \ HotForex provides good calculators and trading journal to keep track on your performance and is highly advised by us for use too.

Customer Service

Another important point while choosing the broker and within our HFM \ HotForex Review is customer service. Eventually, the broker provides support in 27 languages which is an impressive number that covers almost all world most used languages, and allowing traders from almost any country to join trading and get quality support.

• Customer Support in HFM \ HotForex is ranked Good with overall rating 9 out of 10 based on our testing. As we check the traders’ reviews and tried HFM \ HotForex Customer Service Live Chat for our tests too, the satisfaction statistics is good, and HFM \ HotForex provides a good level of customer support along with support materials, see our Ranking breakdown below:

here are some reasons why a trader might consider LiteFinance as their forex broker:

1. Regulation: LiteFinance is a regulated forex broker, which means that it is bound by strict regulations that are designed to protect traders. It is registered and regulated by the International Financial Services Commission (IFSC) of Belize.

2. Low spreads: LiteFinance offers low spreads, starting from 0 pips, which can help traders keep their trading costs low.

3. User-friendly trading platform: LiteFinance uses the popular MetaTrader 4 (MT4) trading platform, which is known for its user-friendly interface and advanced charting tools.

4. Range of trading instruments: LiteFinance offers a wide range of trading instruments, including forex currency pairs, commodities, indices, and cryptocurrencies, giving traders a variety of options to choose from.

5. Educational resources: LiteFinance provides a range of educational resources, including webinars, video tutorials, and an extensive FAQ section, which can be helpful for traders who want to improve their trading skills.

6. Competitive leverage: LiteFinance offers competitive leverage, which can allow traders to take larger positions with a smaller amount of capital.

However, it is important to note that every trader has different needs and preferences, and it is essential to do thorough research and due diligence before choosing a forex broker.

LiteFinance – Open An Account from Orginal Site