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LiteForex Investments Ltd, founded in 2005, is domiciled in Cyprus and regulated by CySEC. They also have a Marshall Islands branch which is subject to a more flexible, looser regulatory regime. LiteForex is one of the leading brokerage companies with traders of different levels from all over the world and listed as one of the top 100 companies according to World Finance. There are over half a million LiteForex traders doing business out of offices in several countries.
LiteForex is an old and well-established Forex broker. At the time of this review, LiteForex has been in the market for over 12 years.
There are four different floating spread trading accounts at LiteForex. With a minimum deposit of $10 traders can open a CENT account which is geared towards fairly new traders who are just starting out or who have traded in a demo account and are confident about moving on. These accounts minimize trading risks as deposits are denominated in cents. The maximum leverage in a CENT account is 1000 and a minimum lot is 0.1. This account comes with a 30% deposit bonus. The account may be based in USD, EUR, CHF or Russian Rubles.
The Forex CLASSIC account was designed for the traders who have trading experience who follow their tried-and-true strategy using four-digit quotes. The CLASSIC account has a floating spread starting from 1.8 points and offers a maximum leverage of 500 to 1. It requires a minimum deposit of $50 and there are no commissions payable. There is a 30% deposit bonus for this account. The account may be based in USD, EUR, CHF, GBP, Russian Rubles or Polish Zloty. The account offers annual interest of 3.5% on equity unused as margin.
The ECN Forex account uses technology which provides full transparency and protection against non-trading risks.
ECN (Electronic Communications Network) is a unique e-technology for Forex trades with no broker intervention. ECN broker is a kind of a platform where a trader's each order is matched with an opposite order either within the company or at the broker's contractor. This account has a $50 minimum deposit and maximum leverage of 1:400. A social trading feature element is offered with this account type. The account offers annual interest of 7.5% on equity unused as margin.
The fourth account is the PAMM account which was developed for managing Forex investors' funds. It combines all the advantages of both management and investing including transparency, safety and convenience which provide wide earning opportunities to both investors and managers. The minimum deposit is $200 and maximum leverage is 1:200. There is no commission.
A very wide range of assets may be traded with LiteForex. Approximately 60 Forex currency pairs are offered, as well as several precious metals and crude oils. The major cryptocurrencies and global stock market indices can be traded, and CFDs are offered on many leading shares from the NYSE, NASDAQ, XETRA and Russian stock markets.
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.
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.
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.
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.
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.
Deposits can be made using major credit cards and online payment programs including LiteForex Cards, Skrill, Neteller, Carte Bleue, Dankort , PostePay, Qiwi, and China Union Pay. Bank wires are also accepted.
Withdrawals are made using the same methods. An opportunity to us automatic withdrawals offers clients the possibility of 2 automatic withdrawals for the period of 24 hours for the maximum amount of $100 (or the equivalent in another currency).The 24-hour period is measured from the moment of funds deduction as a result of automatic withdrawal.
Traders can contact a LiteForex representative via live Chat during trading hours, 9-9 GMT+2. An online form is also available as are toll free numbers to a list of different countries.
LiteForex is one of the longest running Forex brokers in the industry and its stability and transparency are important to the continuation of its success. The long list of accounts and the variety of different bonuses and promotions make trading the LiteForex a lot of fun.
Review info: LiteForex
Review Date: 2018-03-04
Rating : 2
Reviewed By : Sara Patterson (Google+)