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{"id":2388,"date":"2021-12-30T13:39:12","date_gmt":"2021-12-30T13:39:12","guid":{"rendered":"https:\/\/5starbusinesspartners.com\/?p=2388"},"modified":"2023-12-08T16:56:03","modified_gmt":"2023-12-08T16:56:03","slug":"is-liteforex-a-safe-forex-broker","status":"publish","type":"post","link":"https:\/\/5starbusinesspartners.com\/2021\/12\/30\/is-liteforex-a-safe-forex-broker\/","title":{"rendered":"Is Liteforex A Safe Forex Broker?"},"content":{"rendered":"Nonetheless, all the accounts clearly fail to fulfil the client requirements and have little or no offering as compared to other similar trading sites. The cost of trading one single round is very much higher than the average cost per round offered by the industry\u2019s top brokers. LiteForex is an online trading site which claims to offer online trading to clients, but all we found was mere forex trading of a substandard level. The firm is not at all safe to trade and has very limited licenses that fail to assure its authenticity. The broker\u2019s website has a very complex design, and amateurs will face huge difficulty understanding every feature and its services.<\/p>\n
Users are continually encouraged to find out more and to improve their understanding of the trading process, rather than simply being persuaded to spend more money on Liteforex. 24-hour telephone support on trading days and award-winning live chat, both available in multiple languages, mean that it\u2019s easy to get support when needed. LiteFinance does not provide any of the necessary third-party add-ons to unlock the full functionality of MT4\/MT5 and improve the trading environment.<\/p>\n
The trading tools are also simple to use but no less effective for it. The variety of perspectives available on changing markets will be helpful for inexperienced traders. The presence of independent analysis is a reassuring xcritical website<\/a> touch that more brokers should consider. The number of base currencies is less than 5, and the client will, for sure. The clients can also trade via a demo trading account, but the account is offered only for 30 days.<\/p>\n Liteforex offers an impressive and well-organised array of tools. These include an economic calendar to help traders keep track of big market events, a traders\u2019 calculator, and a Fibonacci calculator designed expressly for use with forex. It also provides information on currency rates, as you would expect. It offers a regular economic news feed and its own market analysis, as well as up-to-date analysis carried out by independent experts.<\/p>\n While the 225 assets offer new traders acceptable entry-level exposure, advanced traders will find it inadequate for proper cross-asset diversification. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. LiteForex is a complete scam broker and does not provide clear information about the services.<\/p>\n The present choices will leave traders with an incomplete and sub-standard experience unless they are willing to invest in upgrades. LiteFinance maintains a wide range of trading instruments, advertising 145+ on its website, offering 225. Over the past twelve months, it made the most notable expansion in cryptocurrencies, where it offers 53 assets, including crypto-to-crypto crosses. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. LiteFinance maintains one regulated subsidiary for EEA, UAE, and Marshall Islands-based traders.<\/p>\n See our finds on the International account proposal on the snapshot below. This broker provides a reliable and engaging copy trading facility that functions as a social media network. Users can view the trades carried out by top-ranked account holders and imitate their winning strategies as they aim to increase their performance daily. Liteforex charges fees starting at $15 per month for the use of its virtual private server (VPS).<\/p>\n After a point of time, these brokers start acting as the broker to the provider and not the trader. Additionally, the broker also offers advanced trading tools to assist their traders. The website is multilingual, and customer support is available 24\/5 via live chat, which is also multilingual. Where LiteForex excels is in the trading tools offered for free by the broker.<\/p>\n I like that LiteFinance deploys its proprietary copy trading service embedded within the web-based trading platform. It provides a risk score, all-time percentage-based profitability, how many traders follow the strategy, and the assets under management, as LiteFinance refers to the followed capital of each signal provider. LiteFinance pays strategy providers, adding an attractive revenue stream for successful traders. LiteFinance maintains the out-of-the-box MT4\/MT5 trading platforms, but no introduction exists.<\/p>\n The trading tools and services offered by Tickmill are not up to the mark. Valuable customers can get much better options than T1Markets, ETFinance, PrimeFin, and Brokereo, which provides a wide range of trading instruments through core types of accounts and trading platforms. Most importantly, all these brokers are the safest ventures for traders and investors to trade as the leading financial institutions regulate them. When it initially launched in 2005, Liteforex required only a $1 deposit. Although this has since risen to $50, it remains one of the most affordable brokers for the average person to start trading with. All these factors make it an attractive place to start out trading.<\/p>\n The Classic account features 0% commissions with the spreads, including a markup, as outlined above. However, the ECN account, which is aimed at professional and institutional users, charges a flat commission of $5 per round trip per lot. There\u2019s an extensive set of guides on different forex trading strategies. These are explained in simple language with helpful diagrams and expert advice. A similar set of guides exists explaining what different trading indicators signify. New traders can use the demo account to test the strategies they read about.<\/p>\n Liteforex provides a social trading system, but beyond this, it does not have a fxcritical of its own. It does, however, maintain a presence on Facebook, Twitter, Instagram and LinkedIn. Clients can use all these social media platforms to communicate with the broker and with one another. If you choose to open a new account in order to access different options, it\u2019s easy to transfer funds across to it from the account you were previously using.<\/p>\n This may impact how, where and which companies \/ services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex \/ CFD brokerages featured here. Our research focuses heavily on the broker\u2019s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing.<\/p>\n A helpful glossary of terms commonly used in forex trading is a great first point of reference for beginners who get confused by what they read elsewhere on the site. There\u2019s a useful (and substantial) guide to books about forex, with short reviews of each one. Liteforex doesn\u2019t provide or connect to a platform scammed by xcritical<\/a> where you can buy these books, however, so if any of them interest you, you\u2019ll need to note the details and make your purchase on another site. No commission is charged for topping up your funds, so you can do it as often as you wish. Multiple means of transferring money into your account are available.<\/p>\n LiteFinance features a Beginner section on its blog, where it presents educational content featuring dozens of quality articles. I recommend traders use it as part of their education before opening an account. Below is a list of trading cost examples for buying and selling the EUR\/USD, holding the trade for one night and https:\/\/xcritical.solutions\/<\/a> seven nights, in the commission based LiteFinance ECN account. I recommend traders evaluate LiteFinance as a new broker with limited experience and dismiss any goodwill and trust LiteForex created over 15 years. The most recent developments, starting with the launch of LiteFinance Global LLC, raise notable concerns.<\/p>\n","protected":false},"excerpt":{"rendered":" Nonetheless, all the accounts clearly fail to fulfil the client requirements and have little or no offering as compared to other similar trading sites. The cost of trading one single round is very much higher than the average cost per round offered by the industry\u2019s top brokers. LiteForex is an online trading site which claims […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-2388","post","type-post","status-publish","format-standard","hentry","category-fintech"],"_links":{"self":[{"href":"https:\/\/5starbusinesspartners.com\/wp-json\/wp\/v2\/posts\/2388"}],"collection":[{"href":"https:\/\/5starbusinesspartners.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/5starbusinesspartners.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/5starbusinesspartners.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/5starbusinesspartners.com\/wp-json\/wp\/v2\/comments?post=2388"}],"version-history":[{"count":1,"href":"https:\/\/5starbusinesspartners.com\/wp-json\/wp\/v2\/posts\/2388\/revisions"}],"predecessor-version":[{"id":2389,"href":"https:\/\/5starbusinesspartners.com\/wp-json\/wp\/v2\/posts\/2388\/revisions\/2389"}],"wp:attachment":[{"href":"https:\/\/5starbusinesspartners.com\/wp-json\/wp\/v2\/media?parent=2388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/5starbusinesspartners.com\/wp-json\/wp\/v2\/categories?post=2388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/5starbusinesspartners.com\/wp-json\/wp\/v2\/tags?post=2388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Final Thoughts on Liteforex<\/h2>\n
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\nA big scam broker and need to be\u2026
\nA big scam broker and need to be avoided at all costs
\nThis broker have ecn accounts, but their ecn is not real their chart is…<\/li>\n<\/ul>\nIs LiteForex a good broker?<\/h2>\n
Account types available for traders on LiteForex<\/h2>\n
Pros & cons of LiteForex broker<\/h2>\n