LiteForex offers two account types namely: the Classic and ECN account with a $50 minimum deposit or currency equivalent.LiteForex is an ECN broker that offers Forex and CFD trading.
LiteForex at a glance
| 🔍 Brokers name | LiteForex |
| 🏛 Headquarters | Majuro, Marshall Islands |
| 📅 Years founded | 2005 |
| 📝 Regulating authorities | Only regulated in accordance with Marshall Islands Business Corporation Act. (63888) |
| 🌍 Countries not accepted for trade | United States, Japan, Israel, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom |
| 📒 Demo account | Yes |
| Islamic account | Yes |
| 💻 Institutional account | Yes |
| 🤝 Managed account | No |
| 📊 Maximum leverage | 1:500 |
| 💳 Minimum Deposit | $50 or currency equivalent |
| 💳 Deposit options & Withdrawal options | Credit/debit card (Visa & Mastercard), Bank transfer, WebMoney, CentrePay, Neteller, Skrill, Alipay, Yandex, and Dengi. |
| 📊 Platform(s) provided | MT4 and MT5 |
| 📲 OS Compatibility | Mac, Windows, Linux, Web, Mobile Android, iPhone, iPad Tradable assets offered Currency – FX trading is available 24/5 on major, minor, and exotic pairs |
| 🌐 Languages supported | Arabic, Russian, Malay, Português, Español, Français, Thai, Simplified Chinese, Armenian, Hindi, Bengali, Japanese, Korean, Turkish, Azerbaycanca, Oʻzbekcha, Jazasha, Persian, Georgian, Myanmar, Swahili, Indonesian and Vietnamese |
| ☎ Customer service hours | 24 hours, five days a week |
| 📌 Open an account | 👉 Click Here |
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Min Deposit
USD 50
Regulators
CySEC
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
LiteForex Account Types Revealed – A Key 10 Point Quick Overview
- ✅LiteForex Overview
- ✅LiteForex Account Types
- ✅LiteForex Account Features
- How to open a LiteForex trading account – Step by step
- LiteForex Demo Account
- LiteForex Islamic Account
- LiteForex Pros and Cons
- LiteForex Customer Reviews
- Conclusion
- Frequently Asked Questions
LiteForex Overview
LiteForex Investments Limited is an established online ECN CFD and forex broker that allows clients to trade on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms using multiple deposit and withdrawal methods.LiteForex Investments Limited has a variety of tools to facilitate successful trading including an economic calendar, a world market news blog, and both a margin and Fibonacci calculator, all accessible via the homepage.
LiteForex Investments Limited was founded in 2005 and has headquarters in the Marshall Islands. The group boasts more than 500 000 clients worldwide with offices in the Philippines, Kenya, Myanmar, Tanzania, Ghana, Nicaragua, India, Indonesia, Vietnam, Iran, and a recently opened office in Lagos, Nigeria. LiteForex (Europe) Ltd operates as a separate broker offering trading services to clients from Europe.
LiteForex provides traders access to Tier-1 liquidity in Forex, commodities, and stock markets, allowing traders access to various financial instruments such as major FX pairs along with cross rates, oil, precious metals, and various others.
LiteForex says it uses only the most advanced technology to ensure that traders operate in a safe and user-friendly environment on the best trading platforms and with high-speed executions. LiteForex’s offering also includes low floating spreads, market execution void of requotes, and professional assistance.
LiteForex Account Types
LiteForex Investments Limited offers two primary live accounts, the ECN Account, and a Classic Account. Both ECN and Classic accounts have their merits, so traders should do proper research before making a choice. As accounts use different servers, it is not possible to change the account type once opened, to do so a trader will need to delete his account.
LiteForex Account Features
ECN Account
LiteForex Investments Limited recommends the real-trading ECN (Electronic Communications Network) account for professional traders and investors. This account offers an interest rate of 2.5% on surplus funds, an unlimited duration of transactions and trades are delivered directly to liquidity providers. Only the MT4 platform is available to holders of an ECN account.
| 💳 Minimum deposit | $50 or currency equivalent |
| 📉 Technologies | ECN |
| 📊 Leverage | 1:500 |
| 📉 Spreads | 0.0pips |
| 💰 Commission | From 0.5$ per lot1 |
| 📲 Trading Platforms | MT4, MT5 |
| 💳 Rate per annum | 2.5% |
Classic Account
The Classic account is available to experienced traders. No commissions are charged, or interest paid on surplus funds. Both the MT4 and MT5 trading platforms can be used by traders. The minimum deposit required to open the account is only $50.
| 💳 Minimum deposit | $50 or currency equivalent |
| 📊 Leverage | 1;500 |
| 📉 Spreads | 1.8 pips |
| 💰 Commission | None |
| 💳 Rate per annum | 0% |
How to open a LiteForex trading account – Step by step
How to open a LiteForex account:
- Step 1 – Navigate to the LiteForex website
The first step in registering for a LiTeForex account involves traders navigating to the LiteForex website, and clicking on “Register” to proceed.
- Step 2 – Fill out the LiteForex registration
The second step in the registration process requires traders to fill in their: email address, phone number, and password.
- Step 3 – Access the LiteForex trading dashboard and verify your email address.
Traders will now gain access to the Liteforex trading dashboard where they can verify their personal information in order to start trading.
LiteForex Demo Account
LiteForex’s demo account imitates the conditions of a live trading account and gives traders access to the same functions, features, and options they would have on a live trading account, with the exception that the demo account is risk-free since they make use of virtual funds to conduct their trading. Due to this, traders cannot withdraw any profits which are made on the demo account.
| 🌐 LiteForex Demo account features: | Mims live trading enviroment |
| 🆓 Risk free | |
| Unlimited duration of transactions. | |
| Access to all trading instruments. |
LiteForex Islamic Account
The purpose of an Islamic Account is that it caters explicitly to Muslim traders who follow the strict rules of Sharia law. These rules prevent followers from paying any type of interest, such as overnight fees, which is seen as exploitive or wasteful. Overnight fees are charged when traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should traders hold positions open for longer.
| ☪️️ Features: | Swap Free |
| No overnight fees | |
Sharia law compliant |
Brokers offer an Islamic Account only to Muslim traders who follow Sharia law. Traders must, however, take note that there are certain features indicated on the Islamic account which may differ vastly from the other individual account types, such as minimum deposits, spreads and more.
Traders who are interested in registering for an Islamic account must contact the broker’s customer support team to verify the availability and current conditions of such an account as conditions may have changed from the time of writing.
LiteForex Pros and Cons
| ✔ PROS | ❌ CONS |
| Automated trading – APIs | Clients from many countries prohibited |
| Good variety of assets and trading tools | MT5 not available on ECN account |
| Islamic accounts can be opened | Not regulated by a reputable authority |
| No deposit fees charged | Offshore broker |
| Social trading platform available | Withdrawal fees are charged |
LiteForex Customer Reviews
Successful Withdrawal
I registered 2 weeks ago, immediately after the server crashed for a period of 1 week, yesterday I requested the transfer via skrill and today I received them…- Claudre
This is Good broker for investing
This is Good broker for investing. I have trade gold , oil, and many product – Brian Brit
Really expected better
They have questionable spreads and it all looked nice at first till I put a big chunk in and I have been having issues with my account. After a while of research, found future said website and I was able to get back all I put in from LiteForex through them.
They can be very sweet and tricky and that’s very bad. – Gina
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Min Deposit
USD 50
Regulators
CySEC
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Conclusion
LiteForex is a broker that caters not only to expert traders but also to beginner traders through its provision of a variety of educational tools and materials. Although there are only two account options, both cater to all levels of trader experience. The offering is competitive with tight spreads and reasonable commissions along with an exceptionally low minimum deposit of $50 or currency equivalent.
In addition, LiteForex offers a safe and secure trading environment and advanced trading platforms which add substantially to the trader’s experience. In addition, the Social Trading option is one that makes LiteForex extremely unique and sets it apart from its peers, along with being one of few brokers to provide analysis from the third-party firm, Claws & Horns.
Unfortunately, the asset list of instruments that traders can use is limited when compared to other brokers, and this is something that needs to be addressed.
Frequently Asked Questions
Can Traders from South Africa open a LiteForex trading account?
LiteForex caters to traders from South Africa by offering LiteFinance
Does LiteForex offer Leverage?
Yes, LiteForex offers leverage up to 1:500
Does LiteForex have ZAR accounts?
No LiteForex does not offer ZAR accounts.
What currencies can I use when trading with LiteForex?
USD, EUR, and MBT
How many instruments can I trade with LiteForex?
You can trade several different instruments with LiteForex, which include the following:
- Currency – FX trading is available on major, minor, and exotic pairs
- Commodities – Trade gold and oil with consistent liquidity
- Global stock indexes – Trade CFDs on major global indices, including the US30 (Dow Jones)
- Cryptocurrency – Popular crypto pairs, including Bitcoin, provide an alternative to traditional markets
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