Founded in 2005, LiteForex is one of the most experienced brokers in the financial market for a long time and still retains its high reputation. During its operation, LiteForex was also voted by World Finance as the top 100 companies with nearly 400,000 traders visiting each month, indicating that this could be a prestigious forex broker for you. Let’s review LiteForex in details then you can make a choice whether you will trare with LiteForex or not.
History of LiteForex
LiteForex has been established in Cyprus since 2005, besides Sip, LiteForex has another branch located in Marshall Islands. Currently, LiteForex is operated by two different companies: LiteForex Co., Ltd. (Europe) and LiteForex Investment Co., Ltd. in the Marshall Islands.
LiteForex is very popular with Russian traders, so among nearly 400,000 trader visits per month of LiteForex, Russian traders account for 21% and the number of customers from Brazil, Ukraine, the United States and Latvia account for 54% of the total number of visitors access to LiteForex.
Trading accounts provided by LiteForex
Previously, LiteForex provided 3 main types of accounts including Cent account, ECN account and Classic account. However, LiteForex currently only offers 2 types: ECN and Classic. Both types of LiteForex accounts have a minimum deposit of only $ 50 or more. This is quite appealing to traders, especially for those who like to explore new technologies Because many ECN brokers often require a minimum deposit of $ 200 or more, only $ 50 at LiteForex helps you to have. An ECN account is a great thing to try.
Classic account provided by LiteForex
This type of account is aimed at new or experienced customers with extremely low floating spreads of only 1.8 points (1.8 points, not pips) and the maximum leverage is 1: 500 .
There are 2 other advantages including: a bonus of 30% when you deposit. In addition, you will receive an additional interest rate of 3.5% / year for money you do not use to deposit. You can take advantage of deposits to trade and enjoy interest at Liteforex, although this rate is not really high. But after 1 year you can also earn a bit thanks to this program, while you are still consider when trading.
ECN account provide by LiteForex
For many traders ECN account is certainly not strange. Because this is the account that helps a trader's order be pushed directly to the market and is always executed immediately. This will help reduce risks as well as save money for traders than re-quotes. Similar to Classic, LiteForex also pays the annual interest for ECN account owners to 7.5% as high as bank interest at present, so we find it very attractive for traders. You can put the money ready for trade, capture the market trend whenever you want and can still get the interest as when you put the money into a bank.
Trading assets at LiteForex
LiteForex offers 60 currency pairs, crude oil and precious metals like gold or silver. In addition to these products, LiteForex also provides cryptocurrencies, along with stocks from leading US exchanges such as NYSE, NASDAQ, XETRA and the Russian stock market.
Unlike many reputable forex brokers, Liteforex offers a wide range of cryptocurrency pairs to choose from including: Bitcoin, Bitcoin Cash, Dashcoin, Ethereum Classic, LiteCoin, Monero, Ripple and Zcash.
Trading platforms at LiteForex
LiteForex offers 2 main platforms: MT4 and MT5. In which MT4 trading software mainly deals with products such as Forex, stocks, precious metals, oil and CFDs, MT5 is integrated with MQL5 to help experienced traders can trade more deeply. In addition to the desktop versions, Liteforex also fully integrates versions for iPhone, iPad and Android devices, to facilitate traders to trade whenever they want.
Deposit and Withdrawn LiteForex
Currently, LiteForex supports deposit via: Skrill, Neteller, via Visa, Credit Card, cryptocurrencies: Bitcoin, LiteCoin or ETH ..... Deposit and withdrawal lead times are quite fast, LiteForex has an automatic withdrawal, if you withdraw no more than $ 100, this amount will immediately transfer to your account (up to 2 times). In case you withdraw more, the time will be longer due to manual browsing rather than automatic form.
Customer Support at LiteForex
LiteForex has support staff so you can freely trade by calling online or through other social networks.
Pros and cons summary for LiteForex
- Professional and fast support team
- Low and stable Spread fees
- Fast execution of orders
- No requote required
- Fast and reliable deposit / withdrawal
- Good liquidity
- Goal has quite high spread.
If you would like to open an account with LiteForex, you can click on the below: