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LiteForex India Review

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The LiteForex brand was created in 2005 with an aim to provide a transparent and accessible trading opportunity to the world traders and investors. The company offices located in various jurisdictions, while targeting vast of traders and global residents, therefore the broker serves offices in known offshore zone Marshall Islands and Cyprus.

LiteForex Review

Meanwhile, being a CIF (Cyprus Investment Firm) LiteForex operating within the EU, thus the broker is licensed to provide its services by the CySEC (Cyprus Securities and Exchange Commission), in addition to its regulation within the Marshall Islands authority.

However, notwithstanding to the fact of regulation, it is obvious even from the quick research and based on our findings, the LiteForex company promises to provide transparent trading did face failure. Numerous claims and complaints from the global traders presenting an impressive collection of issues that were faced during the trading. The manipulation of the prices, issues with withdrawals and other malicious actions do not show the company behavior in the client interests and shows a different side of the reality.

Therefore, our concern is to prevent a possibility of frauds or losses of capital, along with the overall negative trading experience, hence it is obvious that LiteForex is in the list of “Brokers to Avoid” with a strong recommendation of warning. Unfortunately, regulation and authorization can not guarantee a company’s reliability and professional sustainability for 100%, for this reason it is important to check both, the broker’s compliance and necessary licensing from the reputable authorities and overall reputation of the broker. There are many of companies that match the criteria, so the best option is to choose among the proved, persistent Brokers that delivers safest investment opportunities.

Investor Protection & Regulations

LiteForex Investments Ltd is registered in Marshall Islands with the registration number 63888. It is also regulated in the Marshall Islands. The office is located in Majuro, Marshall Islands. The global brand (www.liteforex.com) is controlled from this office. LiteForex (Europe) Ltd is a Cyprus Investment Firm registered in Cyprus with the registration number HE230122. The office is in Limassol, Cyprus. It is regulated by the Cyprus Securities and Exchange Commission (CySEC). The license number is 093/08. The European brokerage arm (www.liteforex.eu) is operated from this Cypriot office.

LiteForex protects clients’ funds by keeping it in segregated bank accounts. It cannot be spent by the broker for any reason. This is done so that if anything happens to the broker, the investors’ funds will still be available for refunds. LiteForex EU is a member of the Investor’s Compensation Fund (ICF). The ICF will pay retail investors compensation if LiteForex becomes insolvent.

LiteForex has secured its entire trading environment with a Secured Socket Layer (SSL) issued by Comodo, a reputable cybersecurity firm. This ensures that all data is encrypted during transmission over the internet.

Account Opening

LiteForex provides 2 account types for it clients. For all account types: $50 is the minimum opening balance, 100,000 is the lot size and the minimum lot is 0.01. Social trading is also available for all account holders. A maximum leverage of 1:500 is obtainable for international clients while the European clients get a maximum of 1:30. The types of accounts are:

  • ECN Account: The floating spread starts from 0.1 pips. The commission is from $5 per lot. Only the MT4 trading platform is available to account holders. Interest rate of 2.5% is paid on traders’ surplus funds.
  • Classic Account: The floating spread starts from 1.8 pips. No commissions are charged and the broker charges are embedded in the spread. Both the MT4 and MT5 trading platforms are available to account holders. No interest is paid on traders’ surplus funds.
  • Islamic Account: This account is designed for Muslim faithfuls who are prohibited from receiving interests by Sharia Law. This account is swap free and also do not receive interest on surplus funds.
  • Demo Account: This is a practice account designed for strategy testing and platform familiarization. There is no risk as the trading is done with unlimited virtual funds. The trader determines how much virtual money he needs and continues to top up the account without limits.

To open a new account, click on “Registration” found on the top right hand corner of every webpage on the website. Then the one-page form below displays.

Fill the form and click “Register.” Immediately the account is opened and you are logged into the online Social trading platform. You can also register using facebook or Google account. If you filled a phone number, you will only verify the number with a code sent to the phone after which the account is automatically opened.

After installation, you are prompted to choose the broker server for connection.

Then, the user creates a new demo or real MT5 account and trading can commence. If you choose the MT4 platform, the procedure is the same for downloads and installation. After installing the MT4 platform, you will be prompted to choose a server. Since ECN account holders can only trade on the MT4 platform, the servers are available.

Select the appropriate server, login with the login details and trading can commence. New accounts can also be created from the MT4 and MT5 platforms. LiteForex does not accept traders USA, Israel and Japan.

Deposit & Withdrawals Options

Торговля на форекс или депозиты в банке: что выбрать инвестору

The following payment methods are available to LiteForex clients:

  • Credit/Debit Card: LiteForex accepts major credit and debit cards. The minimum transaction amount is $10. There are no deposit fees. For withdrawals, the minimum amount is $1.01 and a withdrawal fee of 3.5% is charged. Card deposits are instantly processed.
  • Bank Wire Transfers: The minimum transaction amount is $100. There are no commissions. It takes 3-7 days for the complete processing of bank wire transfers.
  • Local Transfer: This is available in areas where LiteForex has representatives. Local transfers and Cash deposits into the local bank are accepted. Withdrawals are also transferred to the clients’ local bank account. There are no extra charges and all transactions are done in the local currency.
  • E-Payment Gateways: The accepted channels are: Skrill, Neteller, Perfect Money and The Qiwi, Yandex.Dengi. There are no deposit charges and the minimum transaction amount is $10. The withdrawal commission depends on the ePayment provider chosen. The commissions are: Perfect Money; 1.99%, Skrill; 1%, Neteller; 2%, Qiwi; 4% + 1RUB, WebMoney; 5%.
  • Cryptocurrencies: The accepted cryptocurrencies are Bitcoin, Litecoin, Monero, Ethereum, Bitcoin Cash and Bitcoin Gold. There are no deposit commissions and the minimum deposit is $10. For withdrawals, the commissions are as follows: Bitcoin; 0.5%, Ethereum; 0.9%, Litecoin; 0.9%, Monero; 0.9%, Bitcoin Cash and Bitcoin Gold; 0.9%. The minimum withdrawal amount is $1 except for Bitcoin which is 0.00051000 BTC

Bonuses/Promotions

LiteForex is loaded with interesting bonuses and promotions all running at the same time. Although Cyrpus has recently acted to ban any new bonuses or promotions, LiteForex Marshall Islands is still offering them. At the time of this review, a 200% deposit bonus is offered to all traders. A $100 deposit is required as a minimum, and the CLASSIC and CENT accounts are solely eligible. A 30% “Non-Stop Bonus” is also awarded for each promocode-activated deposit over $100 in any trading account in the first 24 hours following its opening. A bonus of 15% will be paid into the account for next deposits over $100 upon qualifying, after the first 24 hours.

Forex bonuses — LiteForex

There is also a “zero fees” system whereby any payment fees due to a payments system incurred when making a deposit are added to the depositor’s account as an existing credit. Members of the VIP club are eligible for spread rebates of up to 35% on trades taken. Traders with a demo account can participate in a monthly competition whereby the first 10 traders with the highest balance value win in contest prize amounts up to $2500. And also for demo account holders, with the Fighting contest, anyone using available trading tools can be part of the contest where ten participants showing the most effective trading over the contest period will be considered as the winners.

Завершение промоакции BONUS GO

An interesting promotion is the ability to get back a deposit fee when making a deposit with a credit card. Partners have several of their own contests. In the Weekly Sprint, a partner who is first to collect 50 lots inside his referral group, can become one of the 30 most successful partners who will share the prize fund of $600. The weekly contest ratings are posted on the site. There is also a multi-rebate of 1.5 pips for each referral made to a Partner or Referral accounts. Some of the winners of these contests are interviewed and their insights are posted on the site.

Education

There are some good tutorials on various Forex related subjects in addition to a host of interesting and informative articles. Missing were live webinars which can be quite informative. Using the economic calendar, LiteForex’s clients will always be abreast of the latest news and will make their trading on the Forex market more deliberate and successful. Experienced experts at Claws&Horns provide traders with all sorts of analysis, the latest forecasts, unique reviews, expert opinions and many other analytical materials that are indispensable to trading success and are free to LiteForex’s clients.

Technical Analysis

Traders can access various calculators used in Forex trading such as count pips, leverage, lot size and profit. A Fibonacci calculator is available to help organize trading and produce stable profits.

Trader's Calculator

Trading Platforms

LiteForex offers MetaTrader4, MetaTrader5, WebTerminal and their mobile versions. They are standard platforms in the Forex industry and considered as best for many.

Broker LiteForex Investments Ltd

What is more? It’s VPS! VPS means Virtual Private Servers. What would you do if your computer stops running or lose your internet connection meanwhile a very important trading execution? You would be probably become mad. But with VPS you don’t have to worry about these. Because, the probability of these incidents are almost none. Also the system uses Microsoft Hyper-V. It’s a technique of virtualization that will ensure that the price plans will be valid for every customers.

Customer Service

The customer service employees were friendly and they solved all my problems. Also the service is available for 24 hours.

LiteForex Review | Forex Academy

They operate one of the most multilingual websites I have ever seen. In fact, they come forward not only among forex industry but among all websites. Totally 27 languages are ready for traders from all around the world.

These are English, Arabic, Malay, Portuguese, French, Vietnamese, Armenian, Bengali language, Korean, Azerbaijani, Uzbek, Serbian, Norwegian, Persian, Russian, Indonesian, Spanish, Thai, Chinese, Hindi, Japanese, Turkish, Romanian, Hungarian, Swedish, Kazakh and Georgian.

LiteForex app

LiteForex: Investments and Trading is a high-tech Forex app developed by LiteForex specialists that has the most user-friendly interface for online trading and investing on financial markets. This mobile app provides users with such opportunities as trading on the foreign exchange market, promising investments in crypto currency and earning online on stock markets.

Download Forex application "Mobile Trading" for Ios

Advantages of LiteForex: Investments and Trading mobile Forex app:

– Successful trading and promising investments begin here: more than 150 trading instruments, which include currency pairs, oil, precious metals, stock indices, corporate stocks, securities and crypto currencies

– A powerful social trading platform created for everyone’s success: trade, communicate and copy trades of professional traders. Access to the automated social trading service will allow you not only to duplicate the trades of professionals, but also to monitor their news feed, perfect your own trading skills and get profit at the same time. In addition, the app has its own built-in social network and information channels that contain the newest analytical reviews, trading signals and materials useful for traders and investors.

– High-tech trading terminal with intuitive interface, 1-click trading option and built-in graphical and technical analysis tools.

– The app contains newest Forex volatility charts, shows online exchange rates in real time and meets the needs of a modern trader to the maximum.

Successful trading and investments begin here. The powerful set of functions of the mobile trading app makes online earnings and investments on Forex as convenient and profitable as possible.

 

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