About the company
With over half a million customers, LiteForex Europe Limited has earned a solid name around the world since 2008. The Cyprus Securities and Exchange Commission regulates the corporation, which is established as a Cyprus Investment Corporation. It allows customers to trade on margin on a variety of products, including currencies, commodities, and stock indices. The broker profile is straightforward and includes extras like a social trading platform and a currency analytical web.
Many individuals favor the MT4 platform because of its intuitive interface, which includes customizable features such as over 50 built-in indicators and charts. There are 9 timeframes available, as well as a complete trade history.
The MT5 platform is a powerful trading system built for professional traders. There are hundreds more technical indicators, 21 periods, and a full range of order types on this platform than on its predecessor. Traders can also benefit from the economic calendar and liquidity depth tool.
You can trade using the web terminal without having to install any software. Users on the web get the same direct access to real-time quotes, charting tools, and trading history. The terminal is available if you have your account login details and is compatible with any operating system, including macOS.
There is also a mobile application offering, which includes the firm’s own currency alerts, analysis, and strategy-specific programs. The MT4 and MT5 mobile apps are available in 22 languages and are compatible with iOS and Android smartphones and tablets. The firm also provides six free customized mobile applications to fulfill various demands. You may manage your account while on the move with a universal mobile trading app. Additionally, you can subscribe to signals, analysis, news, and tactics, as well as convert currencies. All alternatives are accessible on iOS and Android smartphones and may be downloaded from their respective app stores.
Spreads and commissions
Spreads on Europe start at 0 pips on an ECN account, although average spreads for main pairs and key indices start at 4 pips and 1 pips, respectively.
Commissions for major pairs are $10 per lot, $20 for currency crosses and commodities, $30 for forex minors, $5 for oil, and $5 per contract for stock indices.
On major currencies, the highest leverage allowed at LiteForex Europe is 1:30. Up to 1:20 leverage is provided on major and minor crosses, as well as stock indexes and precious metals, while oil can be leveraged up to 1:10.
Bank cards (Mastercard or Visa) and e-wallets (Skrill and Neteller) are accepted for replenishment. All local deposit options have no fees and are processed quickly. For e-wallets, the minimum deposit or withdrawal amount is $1, while for cards, it is $10. Withdrawals to a bank card take 3-5 days. Cash transactions from Europe can be controlled through a secure client cabinet, which also has a chat feature in case of issues.
Investors can opt for either a Classic or an ECN account. The key difference between the two accounts is that the tighter spreads include an ECN option, as well as scalping and social trading features.
A $50 minimum deposit is required for both accounts. The minimum trading size is 0.01 lot, with a margin call of 100% and a 50% stop-out level. Negative balance insurance is included with both accounts.
Investors can utilize the free demo profile to practice various methods in real-time market circumstances. Because all assets in the sample account are digital and limitless, there is no risk of losing money. Demo accounts can be created in about a minute using the Personal Account, and demo contests are also available. When you’re ready, you can open a real money trading account.
Additional resources include a beginner’s area with forex information, lessons, and investment techniques, as well as a beginner’s section with forex literature, tutorials, and investment strategies. A number of tools, such as a financial calendar, trade calculators, and an economic news blog, are also available. You can also subscribe to an analytical portal hosted by Claws & Horns for technical and fundamental analysis information. Investors can also use social trading to join the broker’s copy trading network, which allows them to sync their accounts with expert traders.