LiteForex Review

Established back in 2005, Liteforex is a certified broker with outstanding performance and trading conditions. The broker allows traders with any experience to join in and take advantage of the forex market. At the moment, there are more than 250,000 active traders and over 300 new accounts are opened daily.

In 2010 Liteforex won a title of “The most stable broker in Asia”.  In 2012 the broker has been pronounced as “Best broker in Africa” and the latest award from 2013 is “Best Online Broker in Latin America”.

 

Account Types

New traders can take advantage of free unlimited practice account. Once ready to trade with real money, you have an option of:

LITEForex Accounts – best suitable for beginners and strategy testers. The minimum deposit is only $1, which allows a smooth transition from demo account into real money trading. The transactions are in US cents with 0.1 lots with leverage up to 1:200. Spreads are tight as low as 2 pips.

REALForex Accounts – this accounts are best for experienced traders. Here you have an options of leverage up to 1:500 and spreads as low as 2 pips on major currency pairs.

Floating Spread Accounts – the account is best for traders who wishes to take advantage of changing spread value. The minimum spread is 3 pips and there is no commission charges for trade executions.

 

Trading Platform

MetaTrade 4

Among the available platforms you have a choice of MetaTrader 4, one of the most popular trading platform available today in the industry with major analytical tools and advanced charting capabilities. The platform needs to be downloaded and installed on your computer. There is also a mobile equivalent version suitable for iPhone and Android devices.

Webtrader Sirix 3.0

His platform doesn’t require installation. Trade on a go allows you to check the news in real time, use the analytical tools, check out the economic calendar and use one-click trading feature.

 

Bonus and Promotions

Plus 30%

For each deposit of at least $100 made within 24 hours after the opening of the account, your account will be replenished with 30% bonus.

Insure Your Deposit

You can insure up to 100% of your deposit up to $500 and experience the risk free trading.

Refund 1.5 points from each trade

This refund program is one of the favorite among traders. Receive a refund of 1.5 points from each trade you make.

There are also several interesting contest available with Liteforex. Below is the review of such:

Trader’s Marathon  - available for traders from Thailand

Top 10 Forex and Liteforex Frightening with $2,500 and $1,500 cash prizes respectfully with demo account competitions.

Payment Methods

In order to make a deposit or claim a withdrawal the following options can be used: Webmoney, Qiwi, Neteller, Skrill,  OK Pay, Perfect Money, Boleto, CashU, EGO PAY, FASaPay, DAOPay, Wallet One, Fortumo and Wire Transfer.

The withdrawal requests are processed very quickly and do not exceed 7 working days. Once approved, you receive the money within 3 working days. In our case, the withdrawals to Skrill always take about couple of hours.

You might also consider the pre-paid Master Card with all the features of the regular debit card and several extra advantages you might be interested in:

Credit history and credit checks are not required

No chance of negative balance

Transactions limited to $12000 per week

No limit on annual balance

Capable of instant money transfer; for example to relatives, friends and employees

Customer Support

 

Liteforex representatives are there to answer your questions and request 24 hours a day, 5 days a week via online chat, email, phone and call back function. The available languages include English, Chinese, Russian, Malaysian, Portuguese, Spanish, Turkish, Greek, French, Brazilian and German.

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LiteForex Summary

Name: LiteForex
Regulation: Seychelles International Business Authority
Established: 2005
Trading Platform: MetaTrader 4
Currencies: 83
Max Leverage: 1:500
Demo Account: yes
Min Deposit: $1
Payment: Webmoney, Liberty Reserve, AlerPay, Moneybookers, bank Wire
Languages: English, Russian, Chinese, Malaysian, German, Portuguese, Brazilian, Spanish, French, Turkish and Greek
Online Support: yes