Learn more about LiteFinance.
Alexey Smirnov founded LiteFinance in 2005. Today, 500,000 clients from all around the world use its brokerage services. It makes the world of Forex and CFD trading accessible to a global audience by providing a wide variety of assets, two of the most well-liked trading platforms, and flexible account options.
The trading platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are available from the firm. These systems, which were created in 2005 and 2010 respectively, are now the most popular online forex and CFD trading platforms.
PC or Mac devices can download terminals. You can also trade directly from your web browser using the WebTrader interface. Users can start trading right away thanks to the simple setup and authentication process.
Both of the platforms that can be downloaded are easy to use, and the web terminal provides a wealth of customization choices. They include line charts, candlestick charts, and bar charts, among other chart formats. A built-in economic calendar, 21 periods, and a thorough market analysis feature are just a few of the additional indicators and sophisticated analysis tools that MT5 offers over MT4. However, MetaTrader 4 continues to be the most widely used platform and offers all the tools required to use profitable trading techniques.
Markets and assets
The firm offers several asset classes that are available to all account holders:
- Currency is available 24 hours a day, seven days a week on major, minor, and exotic pairs.
- Gold and oil are traded 14/5 with consistent liquidity.
- Global Equity Indices-CFD Trading on Major World Indices
- Popular cryptocurrency pairings
Spreads and commissions
The spread is used by the brokerage firm as payment for its commission. Spreads vary depending on the particular account and the transacted asset. The ECN account uses a commission-based structure, whereas the conventional account uses a spread-based one.
In the latter scenario, spreads start at 0.0 pips and a commission of $0.5 per lot is assessed. The classic account has no commission but quite hefty spreads, starting at 1.8 pips.
Leverage up to 1:500 is available. Users can select the desired leverage while enrolling. The FAQ section of the broker’s website contains comprehensive information regarding the margin call procedure. Leverage for cryptocurrency rose to 1:50.
Mobile trading is supported by the MT4 and MT5 platforms. The apps are free to download for Android (APK) and Apple (iOS) devices. For various trading strategies, users receive signals, news alerts, and a variety of price analysis features. The mobile apps are also simple to use and come in eight different languages.
Mobile trading offers more flexibility than desktop trading, but the desktop solution is easier to use for data-intensive tasks.
Trading account replenishment
Traders can deposit funds directly into their account via:
Credit or debit cards (Visa and Mastercard) Bank transfer WebMoney and AliPay
All accounts require a $50 minimum deposit, and payments are usually processed on the same day. Customers can also use cryptocurrencies like Bitcoin to fund their accounts.
The company provides an automatic withdrawal feature that enables traders to withdraw up to $100 per day within 24 hours and is available on Perfect Money and M-Pesa. Withdrawal fees differ depending on the provider.
Please keep in mind that PayPal is not an option.
The broker provides a free demo account, which is an excellent way to become acquainted with the broker and its platforms without risk. The registration process is straightforward, and an account can be created in under a minute. Demo accounts are beneficial to traders of all levels of experience.
There are two main live accounts: ECN Account and Classic Account.
The broker recommends an ECN account for real trading for professional traders and investors (Electronic Communications Network). The account provides a 2.5 percent interest rate on excess funds, as well as unlimited transactions and trades delivered directly to liquidity providers.
Please keep in mind that ECN account holders can only use the MT4 platform.
For experienced traders, a classic account is available. There is no interest or fees charged on excess funds. There are two trading platforms available: MT4 and MT5.
The Islamic Forex account is a halal trading account that is available to investors who are religiously prohibited from trading in interest rates.
The advice can be accessed through the live chat feature accessible through the logo on the website. Once users go to the login page, a live chat icon will appear in the bottom right corner of the screen. In addition, traders can contact customer support representatives via email.
In countries in which the firm does not work,
Traders from the 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, and Russian Federation are not permitted to use LiteFinance.
LiteFinance is a trustworthy broker with plenty to offer. There is a wide range of tradable forex and CFD assets available, as well as MT4 and MT5 platforms.
The website is simple to use; support is readily available; there are numerous free analysis tools available. Despite its international presence, the brand remains largely inclusive and tailored to individual markets.