LiteForex review
Another very reliable name in the field of efficient and secure Forex brokers is LiteForex. This particular brokerage firm was established in the year 2005 and since then has been serving its clientele with assured quality. This can be proven by the huge number of satisfied customers which are now in the count of LiteForex. It is an ideal trading platform for all types of traders whether novice, beginner or professional veteran traders. LiteForex is one of the most popular Forex broker today – check out our Forex Broker comparison. Set up in Seychelles, LiteForex is under license and regulation by the SIBA. LiteForex offers 24/7 customer support services for its clientele. Trained staff is available to help and guide customers out of their problems via telephone, email and also online chat support options. Support is available in more than 10 languages which makes it easier for customers from all over the globe to trade with LiteForex.
LiteForex offers its customers three types of accounts. The accounts and their trading terms and condition vary accordingly to the type. Firstly the LiteForex Account; this type of accounts are ideal for novice or beginner traders who want to first test the waters of the trading world. It is ideal to maintain a LiteForex account with the firm if you want to first learn about the ups and downs of the trading community. The minimum value of deposit required for a LiteForex account is just $1 – see also a list of Micro account Forex brokers. All trading transactions with the LiteForex accounts are done in cents of the US currency and this allows the traders to begin their trade with 0.1 lots minimum. The percentage margins allowed to them vary between two leverage types. Firstly 1% of margin is offered at a leverage rate of 1:100 and 0.5% of margin rate is offered on a leverage rate of 1:200. Spreads for the LiteForex account type are as low as 2.0 pips.
Second comes the RealForex Account type. These types of accounts are ideal for veteran traders who want to monetize on their money making and trading hunches for maximum profits. The maximum leverage offered is 1:500 and spreads get as low as 2.0 pips. Last but not the least is the Floating Spread accounts. These accounts are ideal for those traders who want to trade with variable spread rates. A lot of intelligent trading instruments are available for those who trade with these accounts. The accuracy of the quotes provided within the Floating Spread accounts is accurate to 5 digits. Spreads for this particular account type begin with 3.0 pips. The best part about holding a Floating Spread account with LiteForex is the fact that it does not include any deductions for commissions on behalf of the brokerage firm. Bonuses are also provided to all customers regardless of the account type they hold with LiteForex.
Instant execution of orders, payments and withdrawals is ensured when you use LiteForex for your trading. There is no extra fee charged for deposit and withdrawal. Traders are allowed the freedom to trade in 83 currency pairs and that too on the MetaTrader 4 platform.