LiteForex Trading Platform – Review, Top Features, Set-up Process, Benefits & more
Last Updated Date: Nov 17, 2022Aleksey Smirnov established LiteForex Trading Platform in 2008 with headquarters in Cyprus and regulated by CySEC.
The much-awarded international online broker facilitates trading in a wide variety of instruments—trade in Forex, CFDs, indices, shares, commodities, and cryptocurrencies.
Trade in the leading MetaTrader 4 and MetaTrader 5 platforms along with mobile apps catering to both android and iOS systems.
Numerous payment channels exist like Bitcoin and Mastercard, Perfect Money, QIWI, Skrill, Visa, Webmoney, and Western Union.
LiteForex Trading Platform Account types offered are STP and ECN along with DMA. Islamic account is offered too.
Auto-trading is possible with the help of EAs. Trade Signals aid the process of wise trading.
About LiteForex Trading Platform
LiteForex Investments Limited caters globally to 500,000 clients and maintains numerous offices in many countries.
LiteForex (Europe) Ltd functions separately and services customers from Europe.
The LiteForex website and trading platforms are available in English in addition to 14 other languages.
Along with the new office in Nigeria, LiteForex runs offices in Ghana, Nicaragua, India, Indonesia, Vietnam, and Iran.
They also maintain offices in the Philippines, Kenya, Myanmar, and Tanzania.
Alipay, Yandex, and Dengi are some deposit options. Cryptocurrency deposits such as Bitcoin are acceptable. The payment processing happens on the same day.
An automatic withdrawal feature allows a $100 per day withdrawal within 24 hours. Skrill, Perfect Money and Neteller provide such a facility.
Trading assets include all the most famous currency pairs along with the cross-rates. Among metals, gold and silver trading occurs at the forex.
Brent and Crude Oil trading take place at LiteForex Online Trading Platform. About stock indices, LiteForex trades in the American, Australian, and European stock indices.
CFD NYSE and CFD NASDAQ cater to shares in the greatest global companies. Cryptocurrency trading of several types is big business too.
Get Free Access to Platform – Open a Forex Account Now!
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LiteForex Trading Terminal – Top Features
Reputations matter above everything these days, and LiteForex Trading Platform enjoys a stunning status internationally.
An updated, technologically advanced service provider, the best trading opportunities are on offer.
Trading orders get executed at record speeds. Spreads being usually low, greater profits come to the traders.
Some significant awards that LiteForex received during a lengthy, dedicated and accomplished career:
- Best ECN Broker
- Best Copy Trading Platform
- The Best Forex Broker in Nigeria
- ShowFX Asia 2010 – the most stable broker in Asia
- Best Client service
- Best Affiliate program
LiteForex offers a free demo account that helps to learn trading strategies without the risks of losing money. The demo account does not offer virtual currency.
Traders’ Tools of several kinds help safe and research trading to elevate profits and minimize losses—analytical tools aid technical and fundamental forex understanding.
The Economic Calendar brings you up to date with the most important macroeconomic news relating to the forex market.
Claws & Horns also supplies analytical news. Trader’s Calculator and Fibonacci Calculator are crucial to market analysis too.
You need to know the latest Currency Rates and Quotes Charts along with updated Forex Financial news. LiteForex puts you up to date every time.
Leading Trading Platforms
LiteForex functions via MetaTrader 4, and MetaTrader 5, the cherished online forex and CFD trading platforms. MT4 was developed in 2005 and MT5 in 2010.
MT4 and MT5 may be downloaded on Mac and PC systems.
The WebTrader system also functions directly from the browser online.
Ease of downloading and setting up the automatic interface and the verification process takes only a few minutes.
Exceptional WebTrader facilities
The LiteForex Online Trading Platform WebTrader and the two downloadable platforms are user-friendly. WebTrader enables plenty of customization according to trader requirements.
You can access many kinds of charts like bars, lines, and candlesticks. Widespread MT4 contains every facility the trader needs. MT5 is ahead in the race with advanced facilities.
They include a built-in economic calendar, more indicators, and additional analytical tools. Along with 21 timeframes, use a Depth of Market facility.
How to Set-up LiteForex Web Trading Platform?
LiteForex presents a variety of methods to trade. According to personal preferences, the trader can decide in favor of desktop trading or mobile trading.
While the desktop with a large screen can accommodate more features, the mobile app allows you to trade during travel and vacations.
Choices are the MT4 and MT5 platforms and the mobile apps for both android and iOS systems.
According to the choice opted for, download the free software using the internet.
No fee is charged for downloads except the fees paid to the internet service provider. The equipment being hired or bought also does cost money.
The LiteForex Trading Platform downloading procedures also require some skills, especially for beginners.
An installation file is first downloaded, and you have to decide where the program file will be stored in the Settings.
If such a storage location is not specified, the file goes into the default storage location.
According to the choice opted, the downloaded file will differ in size. The file size will be small in the mobile app from the Android Google Play or iOS Apple store.
Trading on LiteForex does not strictly require any download. Those who prefer it have the option of trading from the browser itself from the LifeForex website.
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How to Own LiteForex Online Trading Platform?
After the successful downloading of the software, go through the process of opening an account. The first step will involve the creation of a Profile of the applicant with personal details.
Along with the name and address, date of birth, and place of residence comes the process of verification of identity and residence.
Communication with the company will require the submission of authentic particulars since legal matters are involved.
Make sure that all the particulars entered can be proved through documentation. Names and dates of birth and address particulars should be reflected exactly as they appear in the official documents.
By official documents, we mean legal documents that the government has issued.
Verification through documents
Specifically, identity and residential proof are required for LiteForex Trading Platform official purposes. Traders belong to many different countries, and laws and rules differ everywhere.
The possibility of fraud is high in spite of all the security procedures.
A passport or driving license is usually submitted as identity proof with the applicant’s picture and signature. The picture should be clear and in color.
Residence proof is submitted through a utility bill like water and electricity that is within three months old. The bill should mention the name and address of the applicant. A bank statement that mentions name and address is also acceptable.
Advantages of LiteForex MetaTrader 5
LiteForex Trading Platform account holders gain access to numerous assets and markets in LiteForex.
Trade in Forex currency pairs 24/5 and try your luck with major and minor or exotic pairs of currencies.
Trade in gold and oil commodities across 24/5 with absolute liquidity. The Trade CFDs on major stock indices, and that includes US30 (Dow Jones).
Those who like a break from conventional markets may seek the common cryptocurrency pairs to trade-in.
Spreads and Commission rates
Spreads bring incomes to LiteForex and differ according to the nature of the account and type of traded asset. ECN account uses a commission-based system and charges $5 per lot.
The classic account uses spreads for calculations of fees. Usually competitive, spreads can sometimes be high, like two pips. In FTSE 100 and other major indices, the spread commences at 1 point.
Extent of Leverage
Leverage may extend up to 1:500. Traders can specify the leverage they wish for while signing up for an account.
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LiteForex Trading Platform – Conclusion
As one of the leading online brokers of global renown, LiteForex Online Trading Platform has carved a niche with committed services.
Spread over the world across numerous countries, they maintain several offices.
Not only can they be trusted through a regulatory mechanism, but the trading platforms they provide like MT4 and MT5 are among the most advanced.
Starting with the demo account that teaches the trading strategies to beginners to the multiple trader’s tools, it is one long success story. WebTrader is truly one of the greatest dreams a dedicated trader can succeed with for lucrative trading.
By offering numerous options for money deposits and withdrawals, updated technology keeps LiteForex Web Trading Platform ahead of the highly competitive broking industry.
LiteForex Trading Platform – FAQs
Here are few FAQs related to the LiteForex Trading Platform:
What is the LiteForex Trading Platform called?
The LiteForex Trading Terminal goes by the name of WebTrader, but that is not all.
MetaTrader 4 and Metatrader 5 are the two distinguished versions of the leading trading software that Liteforex uses.
Additionally, mobile apps may be downloaded for use on both android and iOS systems. They work similarly and offer somewhat the same functions.
Does LiteForex provide Web Trading?
The LiteForex web trading facility offers WebTrader software.
Trading online can be done via MT4 and MT5 or directly from the browser without downloading any software.
Trading features are pretty similar on the website and the MT4 and MT5 platforms. Mobile apps also work through the web but downloads of the app will be necessary to trade.
Is LiteForex MetaTrader 5 Free to use?
Live trading in the LiteForex Web Trading Platform requires charges to be paid according to the type of account.
Spreads or commissions are charged according to the account opted for.
Regarding the demo account used for learning to trade, no charges are imposed, and it is free to use.
Opening the account and processing the verification through documents is also free.
How to download LiteForex Trading Terminal?
The free download of MetaTrader 4 or MetaTrader 5 starts the process of installation and setup. The installation file requires a directory for the program in Settings.
The very efficient MetaTrader 4 contains all the necessary facilities a trader may need.
MetaTrader 5 has increased functions that suit both the desktop computer and iPhone requirements.
What features does the LiteForex Online Trading Platform have?
The LiteForex Online Trading Platform delivers robust and secure functionality with a variety of trading tools.
Traders are never left in the dark because of the powerful customer support in many languages.
The risk of financial loss gets reduced through researched trading that uses various trading signals and indicators.
Can I trade in Shares via the LiteForex Trading Platform?
Internal share markets are an essential part of the LiteForex Trading Terminal.
Share trading is offered along with many other assets in LiteForex. Gold and oil are 2 precious commodities that attract a lot of attention.
Since the danger of losing money is always present, traders need to do their homework well and use all the facilities available to enable wise trading.
Is LiteForex MT5 good?
LiteForex works supreme as a trading terminal with exquisite facilities and trading services. Having received many awards, they are globally accepted as a reliable broker.
Always updated with the latest market information and presenting a range of advisory services, traders find the best opportunities for successful trading with them.
Customer support is exceptional.
Can LiteForex Web Trading Platform be used without EKYC?
Creating an applicant profile will be possible in the LiteForex Web Trading Platform without EKYC, but live trading will require verification of identity and residence through official documents.
After verification, the minimum deposit has to be paid. EKYC is required for security purposes since trading involves extensive money, and a lot of cybercrime happens these days.
Does LiteForex Trading Platform provide Tips?
A variety of indicators like charts and analytical tools help make wise decisions.
Traders cannot hurry but carefully heed the suggestions and market research tools.
Customer support is always ready to answer queries 24/7 in several languages
Beginning traders need to be very cautious and learn from the demo account and seniors initially.
How to Buy Currencies via LiteForex Web Trading Platform?
Forex or the trade-in pairs of currencies is a very profitable LITEFOREX Trading Terminal activity globally.
The danger is that the entire investment could be lost. GBP vs. USD is an example of a pair of currencies.
The challenge is to predict the rise or fall in the value of currencies. Buying and selling are done accordingly.
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