LiteForex Europe Review 2024
United States not accepted.Pros
- A proprietary copy trading system is available which allows you to copy other trading patterns
- LiteForex has been established for 15+ years and is regulated by a trusted regulator, CySEC
- Fast ECN execution model with low spreads from 0.0 pips
Cons
- There are limited funding methods compared to other brands
- Cryptocurrency trading is not offered
- Fees are fairly high, with spreads starting from 2.0 pips in the Classic account and $10 forex commissions in the ECN account
LiteForex Europe Review
LiteForex Europe is a reputable forex broker with a good selection of MetaTrader platforms and mobile apps. Clients benefit from advanced analysis, copytrade features and straightforward fees. Here we’ll review LiteForex Europe’s 2024 trading services in detail, including regulation, minimum deposits, account types, and spreads.
LiteForex Europe Details
Since starting in 2008, LiteForex Europe Limited has earned a strong global reputation, with over half a million clients. The company is registered as a Cyprus Investment Firm (CIF) and regulated by the Cyprus Securities and Exchange Commission (CySEC).
LiteForex Europe offers margin trading on a wide range of instruments, including currencies, commodities, and stock indices. The broker’s account offering is simple and comes with additional features such as a social trading platform and a forex analysis portal.
Trading Platforms
MetaTrader 4
The MT4 platform is the go-to choice for many individuals, whether they are new to trading or seasoned professionals. The smart interface is packed with custom tools to boost advanced trading techniques, including over 50 built-in indicators and graphical objects. There are 9 timeframes, plus full trading history.
The setup and download process for PCs is quick, easy and available from the LiteForex Europe homepage.
MetaTrader 5
LiteForex Europe’s advanced trading solution is the MT5 platform, designed with the professional trader in mind. The platform boasts dozens more technical indicators than its predecessor, 21 timeframes, and a full set of order types. In addition, traders can take advantage of the economic calendar and depth of liquidity tool.
MetaTrader WebTrader
The web terminal allows for trading without any software installation. Web users have the same access to real-time quotes, charting tools, and trading history directly from their browser. The terminal is compatible with any operating system, including MacOS, and is accessible once you have your account login details.
Markets
You can trade on four main markets at LiteForex Europe, including dozens of popular currency pairs like EUR/GBP, commodities including gold and oil, and a range of global stock indices such as the NASDAQ and US30.
This review would like to have seen cryptocurrency trading offered.
Spreads & Commission
Spreads at LiteForex Europe are floating from 0 pips with the ECN account, though average spreads start from 4 pips for major pairs and 1 point for major indices.
Commissions are also charged with the ECN account at $10 per lot for major pairs, $20 per lot on forex crosses and metals, $30 per lot of forex minors, $5 per lot on oils and $5 per contract on stock indices.
Overall, tighter spreads and cheaper commissions are offered at other brokers, such as XM.
Leverage Review
The maximum leverage available at LiteForex Europe is 1:30 on major currency pairs. Major and minor crosses, plus stock indices and precious metals are available up to 1:20, and oil can be leveraged up to 1:10.
Mobile Apps
LiteForex Europe has an extensive mobile app offering, consisting of not only the MetaTrader apps but also the broker’s own apps tailored to forex signals, analysis, and strategies.
Available in 22 languages, the MT4 and MT5 mobile apps are suitable for iOS and Android (APK) smartphone and tablet users. The apps come with the same features as their desktop counterparts and allow for full-fledged technical analysis with custom charting tools and trade execution capabilities.
The broker also offers 6 proprietary mobile apps free of charge, all catering to different needs. There is an all-round mobile trading app, which allows you to manage your account whilst on the move. You can also subscribe to signals, analysis, news and strategies, and even convert currency. All options are available on iOS and Android devices and can be downloaded from respective app stores.
Overall, LiteForex Europe does well in mobile rankings compared to peers.
LiteForex Europe Payment Methods
Funding is available via bank cards (Mastercard or Visa) and e-wallets including Skrill and Neteller. Fees are reimbursed for all local deposit methods and are processed instantly. The minimum amount for deposit or withdrawal is $1 for e-wallets and $10 for cards. Withdrawal times via bank card are 3 – 5 days.
The owner has ensured all LiteForex Europe deposits and withdrawals can be managed from within the secure Client Cabinet, which also contains a live chat in case of any problems.
Demo Account
Traders can use the training account free of charge to explore different strategies under real market conditions. There’s no risk of losing any money, as all funds in the demo account are virtual and uncapped. Registration for a demo account takes less than 1 minute via the Personal Profile and demo contests are also available. You can then open a real money trading account when you feel ready.
Bonuses & Promotions
There are no bonus deals or promo codes offered by LiteForex Europe in 2024. As per CySEC regulations, the use of incentivised trading via bonuses, contests, rebates, etc, has been restricted to protect retail investors.
The non-EU entity, however, has been known to offer generous $100 welcome no deposit bonuses and dream draw contests. The non-EU entity accepts traders from a range of countries, including Iran, Myanmar, Nigeria, Indonesia, Thailand, Malaysia, Vietnam, the Philippines, Uganda, Ghana and Kenya. Clients from the USA are not accepted.
Regulation
LiteForex Europe Ltd is registered as a Cyprus Investment Firm (CIF) and is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 093/08. The broker operates in accordance with the Markets in Financial Instruments Directive (MiFID).
LiteForex Europe Limited is also a member of the Investor Compensation Fund, which protects client funds up to 20,000 EUR. Traders should have a reasonable level of trust with this broker.
Additional Features
There’s a good range of additional resources on offer, including a beginners section complete with forex literature, tutorials, and investing strategies. In addition, you can access a host of tools such as an economic calendar, trading calculators, and an economic news blog. There’s also an analytics portal powered by Claws & Horns, which you can subscribe to for insights on technical and fundamental analysis.
Investors can also join the broker’s copy trading network with the social trading platform, which allows you to synchronise your accounts with professional traders.
Account Types
Traders can choose between the Classic or ECN account at LiteForex Europe. The main difference between the two accounts is that tighter spreads come with the ECN option, plus scalping capabilities and access to the social trading platform.
Both accounts require a minimum deposit of $50, which is lower than other competitors such as FXTM and OctaFX. The minimum trade size is 0.01 lots, the margin call is 100%, and the stop out level is 50%. Both accounts also come with negative balance protection.
Note that the LiteForex European entity does not offer Islamic swap-free accounts, PAMM/MAM accounts, or Cent accounts.
Trading Hours
Forex can be traded 24 hours a day, but particular geographical trading sessions depend on the market’s timezone. Specific server hours can also be provided by the customer support team, or by clicking on the instrument details within the client portal.
Customer Support
3.5 / 5The LiteForex Europe customer support team are available Monday to Friday between 9 am and 9 pm (GMT+2) via:
- Email – support@liteforex.eu
- Telephone hotline – +357 25 750 555
- Headquarters – 124 Gladstonos Street, The Hawk Building, 4th Floor, 3032 Limassol, Cyprus
You can also get help 24/5 by clicking on the live chat logo, which is available upon login to a demo or live account. Alternatively, see the FAQ portal or reach out via Telegram.
You can contact the support team to get help with a range of queries, from account registration and verification to copytrade services and forgotten investor passwords.
Trader Security
LiteForex Europe uses HTTPS (Hypertext Transfer Protocol Secure) data encryption inside the Personal Profile portal, which ensures safe data transfer between the client and servers. The MT4 and MT5 platforms also use Secure Sockets Layer encryption protocols and extended layers of security if required.
LiteForex Europe Verdict
LiteForex Europe is a trusted broker offering social trading, ECN spreads and fast withdrawals. The $50 minimum deposit is also reasonable and the demo account and trading tools make the broker a good choice for beginners.
Top 3 Alternatives to LiteForex Europe
Compare LiteForex Europe with the top 3 similar brokers that accept traders from your location.
- IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
LiteForex Europe Comparison Table
| LiteForex Europe | IG | Interactive Brokers | World Forex | |
|---|---|---|---|---|
| Rating | 3.7 | 4.7 | 4.3 | 4 |
| Markets | CFDs, Forex, Indices, Commodities | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts |
| Demo Account | Yes | Yes | Yes | Yes |
| Minimum Deposit | $50 | $0 | $0 | $1 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | $100 | 0.01 Lots |
| Regulators | CySEC, AFM | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM | SVGFSA |
| Bonus | – | – | – | 100% Deposit Bonus |
| Education | No | Yes | Yes | No |
| Platforms | MT4, MT5 | Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral | MT4, MT5 |
| Leverage | 1:30 | 1:30 (Retail), 1:250 (Pro) | 1:50 | 1:1000 |
| Payment Methods | 8 | 6 | 6 | 10 |
| Visit | – | Visit | Visit | Visit |
| Review | – | IG Review |
Interactive Brokers Review |
World Forex Review |
Compare Trading Instruments
Compare the markets and instruments offered by LiteForex Europe and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| LiteForex Europe | IG | Interactive Brokers | World Forex | |
|---|---|---|---|---|
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | No | Yes | No | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | No | Yes | No | No |
| Silver | Yes | Yes | No | Yes |
| Corn | No | No | No | No |
| Crypto | No | Yes | Yes | Yes |
| Futures | No | Yes | Yes | No |
| Options | No | Yes | Yes | No |
| ETFs | No | Yes | Yes | No |
| Bonds | No | Yes | Yes | No |
| Warrants | No | Yes | Yes | No |
| Spreadbetting | No | Yes | No | No |
| Volatility Index | No | Yes | No | No |
LiteForex Europe vs Other Brokers
Compare LiteForex Europe with any other broker by selecting the other broker below.
FAQ
Does LiteForex (Europe) offer any promo codes or deposit bonuses?
LiteForex (Europe) does not offer any promotions, including no deposit bonuses.
Does LiteForex (Europe) accept USA clients?
LiteForex (Europe) does not accept clients from the United States. The EU entity only accepts traders from the EEA, plus the UAE and Marshal Islands.
How do I open a real LiteForex (Europe) account?
You can sign up for an account from the website home page, which will take you through the verification process. You will then receive your sign-in credentials so you can start trading.
Is LiteForex (Europe) legit?
LiteForex (Europe) is a trusted broker based in Cyprus and licensed by the Cyprus Securities and Exchange Commission (CySEC).
Where is LiteForex (Europe) based?
LiteForex (Europe) is based in Limassol, Cyprus. The non-EU entity, LiteForex Investments Limited, is based in various locations around Asia and the Middle East, including Thailand, Vietnam, Malaysia, Kenya, Nigeria, and Iran.
Customer Reviews
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