LiteForex review – Is LiteForex legit?

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LiteForex is an online broker founded in 2005 that currently has more than 500,000 clients worldwide. It belongs to the company LiteForex Investment Limited Inc (registered in the Marshall Islands where the tax regime is especially favorable) and currently has offices in many countries such as Russia, Indonesia, Malaysia, …

It has a wide presence in Latin America where it has been recognized as the ” Best Latin American Broker 2013 ” by the World Finance financial magazine. One of the strengths of this broker is its truly professional customer service . For Spain it offers a service entirely in Spanish from Monday to Friday from 06:00 – 22:00 h and with free calls to a 900 number.

With LiteForex you can invest with good conditions in a multitude of instruments such as the most popular currency pairs in the Forex market, CFDs on stocks of the main companies around the world, specific CFDs of the main companies in Russia , raw materials such as gold, silver, platinum and palladium, the main stock market indices , oil , …

LiteForex offers a wide variety of accounts to suit the profile of each investor with a minimum deposit ranging from $ 1 for the LITE account to $ 25,000 for the SGD account. It also offers PAMM accounts (trading accounts managed by experienced professional traders), accounts with ECN / STP execution, Islamic or swap-free accounts, …

With LiteForex you can also contract a VPS server hosted on the same platform as the broker’s trading servers from $ 15 per month , thus reducing access time as much as possible and guaranteeing total availability without interruptions or service cuts. This service is highly recommended for those investors who use automatic trading systems . LiteForex’s VPS trading servers incorporate Microsoft Hyper-V virtualization technology, are always available, you have a 24-hour support team at your service and you can try it for free for a week.

LiteForex  Platform

LiteForex provides its clients with the popular and powerful MetaTrader 4 and MetaTrader 5 investment platforms . By opening an account with LiteForex you can download and install the MetaTrader platform on your computer or use its versions for smartphones, tablets, iPhone or iPad .

With the Metatrader platform you can access the best charts and a complete catalog of technical analysis indicators . You can also incorporate automatic trading systems (called EAs) as well as easily program and test your own EAs.

LiteForex Reliability

LiteForex is a broker with a long history and is backed by the trust of more than 500,000 clients worldwide . It belongs to the company LiteForex Investment Limited Inc, which is registered in the Marshall Islands with the identifier 63888 and in compliance with the regulations of the Marshall Islands Business Corporation Act.

Is LiteForex legit?

No LiteForex Broker not Legit, This broker is authorized and regulated by the RAFMM (Russian Association of Financial Markets Members). It is missing that it is not regulated by a more rigorous body belonging to the European Union.

LiteForex is an online broker with relatively good trading conditions , low spreads , fast order execution and also for its complete customer service that has received important awards to date.

LiteForex  commissions

LiteForex offers a low spreads that depend on the type of account contracted by the investor. In his accounts with ECN / STP execution, he connects with the most important liquidity providers worldwide (banks, funds, financial institutions, …) and manages to offer the client the best purchase and sale price at any time with floating spreads from 0 , 1 pips .

Also depending on the type of account chosen, you can start investing through LiteForex with a minimum deposit that varies from $ 1 in the LITE account to $ 25,000 in the SGD account.

LiteForex also offers its customers significant welcome and deposit bonuses . From promotional codes that offer you a bonus of 100% of your initial deposit to bonuses of 40% for any subsequent deposit over $ 100.

LiteForex  Demo account

With LiteForex you can get acquainted with the MataTrader platform or learn to invest in the stock market from scratch by opening a demo account completely free . You can access the same conditions and functionalities as with a real account but without putting your money at risk.

LiteForex Account Comparison

Accounts:LITEREALNDDSGD
Minimum deposit$ 1$ 100$ 300$ 25,000
PlatformMetaTrader 4/5MetaTrader 4/5MetaTrader 4MetaTrader 4
Minimum spreadFixed, from 3 pipsFixed, from 3 pipsFloating, from 0.1 pipsFloating, from 0.1 pips
Maximum leverage1: 10001: 2001: 5001: 200
Maximum Open Positions300UnlimitedUnlimitedUnlimited

 

Main features

Online broker typeForex and CFDs broker
Spain websitewww.liteforex.es
HeadquartersMarshall Islands
License and regulationno
Available instrumentsMain currency pairs of the Forex market, CFDs on stocks, CFDs specific to the main Russian companies, raw materials, stock indices, oil, …
Platforms availableMetaTrader 4, MetaTrader 5, Mobile Versions (Android)
Initial minimum deposit$ 1

Our Conclusion

At the moment we have not had a real trading experience with the LiteForex broker. The regulated brokers that we consider reliable and that we can currently recommend to you are those with whom we have opened a trading account, deposited funds, carried out operations and withdrawn money without problems and are those that you can find in our best Online Brokers section.

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