BEST META TRADER 4 BROKER - LiteForex Review

Photo: Liteforex

Overview

Lite Forex was conceived in 2005 with a major aim of making it the best by focusing on small-scale traders. It offered very flexible trading conditions during its conception period and it came up with the cent account. In this setup, traders were allowed to make a minimum deposit of $1 in order to execute trades.

This model made them very popular and it acquired many clients all over the world. This has made it the global brand it is and whose model of operation is followed by many. It's over decade-long stay in the industry has given Lite Forex a great step in having the right experience from dealing with many clients.

Features

• Provision of a VPS server
• Trading signals
• Web-based platform
• Cashback rebate
• Guaranteed stop loss

Trading Accounts

For a client to be able to execute trades, he or she will need to sign up for a trading account. They will need to sign up using their valid details in email addresses among other valid credentials.

Trading Features:

• Hedging
• Trading with expert advisers
• Trailing stop
• Trading 24 hours a day
• Mailing the documents

Lite Forex has various account types that are specially designed to meet the individual tastes of its clients. The account types are the demo account, the classic account, and the ECN account.

Demo Account

The demo account is the account type that is meant for traders who do not know how to trade. This account type will serve as a learning tool for such traders who will be able to execute trades while at it. The trades are simulated and the funds will also be virtual as the key is to teach those who do not know of the concept.

Classic Account

The classic account is designed for experienced traders or traders who are willing to stake more into trading. The account is flexible and will serve all traders equally both novice and experienced. Its many features are as follows:

• Minimum deposit of $50
• Leverages at 1:500
• Increased quoting precision
• Floating spreads from 1.8 pips
• No commissions are charged for this account type

ECN Account

The ECN account is an account type for experienced and professional traders who want to use the social trading service. This account utilizes the ECN technology in offering its services. Its features are:

• Leverage of 1:500
• Floating spreads from 0.1 points
• Minimum deposit of $50
• Commissions are charged at $5 per lot
• Market type of execution
• Allows for social trading, scalping and news trading

Security of Funds

Lite Forex has been in business for over a decade and it has much to show for this time. It has its headquarters in Cyprus but due to its resiliency over the years and the expertise gained, it has managed to spread its influence to other counties as well.

This growth has led to revisiting of its strategies and modifying them. This can be seen in the presence of social trading, crypto trading and also its Islamic trading to comply with the sharia law of its Muslim clients. This coupled with good customer service courtesy of its personnel have made it a big force in the forex sector.

Lite Forex is a very credible company that has the right documentation in licenses in the regions it runs its operations. This licenses come from the regulatory bodies in these regions and govern how the company is operated.

Among the licenses that Lite Forex has under its possession include:

A regulatory license in compliance with Marshall Island’s Marshall Island business corporation act.

It is licensed to operate in Cyprus by the Cyprus Securities and Exchange Commission (CySEC).

These regulatory bodies put a lot of emphasis on the protection of clients’ funds. Lite Forex has put up measures to ensure the safety of clients’ funds in compliance with the set regulation. Among the measures put up include:

• Segregation of the company's bank accounts from clients' funds' accounts.
• Having the state of the art encryption f their databases in case of cyber criminals.
• Partnering with credible banks to aid in the storage of such funds.

Trading Conditions

Minimum Initial Deposit

The minimum initial deposit is $10 which serves as the client’s initial base capital for trade execution.

Commission

Commissions are charged on ECN account holder at $5 per lot.

Leverages

Leverages go up to 1:500.

Trading Platforms

The trading platforms that Lite Forex uses are among the best with technological advancements as well as awesome features to boot. This enhances the trader's experience while executing trades. The platforms are the Meta trader4, the Meta trader5, and the mobile phone platform.

Meta Trader 4 Platform

This is a great platform that comes with many features such as:

• A user-friendly interface that makes it easy to use
• Has advanced charting and analytical tools
• Has many indicators
• Gives the trader access forex news from credible sources

Meta Trader5 Platform

This is another advanced platform that will allow you to trade hassle-free. Its features are:

• Easy to use
• Has advanced charting and drawing tools
• Allow for social and automated trading
• It is available for both the mobile phone and desktop version
• It is easily customizable

Mobile Platform

In a bid to tap into the ever-growing mobile phone sector, Lite Forex has a mobile phone platform that will enable a client to execute trades from the comfort of their phones. This is a downloadable platform that I available for both ios devices and Android operated devices. It is simple to use and lightweight meaning it won't take much of your device's space on download.

Promotions

The following are the promotions currently being run by Lite Forex on its site:

• The commission compensatory scheme where you receive a bonus upon deposit.

Withdrawals and Deposits

Lite Forex offers flexible withdrawal and deposit methods that will match your convenience. Among the accepted modes include the use of bank cards such as Visa and MasterCard, bankwire transfers, electronic transfers, and cryptocurrencies. The minimum transaction amount is $10 with 0% commission.

Summary

This is a legitimate trader that is totally focused on a great customer experience. Lite Forex customer comments and reviews prove how much this broker is trusted and credible. This is a recommendable trader for any experienced trader.

Reprinted from Topbrokers, the copyright all reserved by the original author.