LiteForex Europe Review 2023
- DayTrading Review Team
LiteForex is a good option for active forex traders with variable spreads from 0 pips, daily analysis and high-quality training guides. The forex copy system also lets you duplicate the positions of experienced traders.
LiteForex Europe is a CFD broker established in 2008 and authorized by the CySEC. The brokerage offers trading on forex, commodities and indices via the MetaTrader 4 and MetaTrader 5 platforms. Spreads are ultra tight on ECN accounts and leverage is available up to 1:30 in line with EU regulations. LiteForex also offers a rich education centre for new traders and social trading capabilities.
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LiteForex Europe is a great option for forex traders with dozens of currencies, low spreads from 0 and a VPS for automated trading strategies. We also rate the daily market insights and forex tutorials for beginners.
Trade on major US, European, Australian and Asian stock indices. LiteForex clients can diversify portfolios with hedging capabilities and low margins. Spreads are transparent and there are no commissions.
LiteForex offers leveraged CFDs on popular asset classes, including currencies, commodities and indices. Traders can choose between the ECN and Classic account depending on their strategy alongside an accessible starting deposit and leading trading software from MetaTrader.
The LiteForex copy trading system is available to all clients and allows users to replicate positions and strategies in their own accounts. Simply choose a trader using the broker's rating system, make a deposit and decide on an investment term.
- Trustworthy with regulatory oversight from CySEC
- Fast ECN execution model with low spreads
- Social and copy trading available
- Low $50 minimum deposit
- TradingView analytics
- Range of mobile apps
- VPS available
- High fees with Classic account
- No cryptocurrency trading
- Limited funding methods
- No Islamic accounts
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 2023 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.
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.
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.
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.
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.
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.
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.
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 2023. 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.
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.
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.
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.
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.
The LiteForex Europe customer support team are available Monday to Friday between 9 am and 9 pm (GMT+2) via:
- Email – email@example.com
- 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.
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.
LiteForex Europe only accepts traders from Belgium, Bulgaria, Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden, , Iceland, Liechtenstein, Switzerland, Norway, United Arab Emirates, Marshall Islands.
LiteForex Europe Details
|Minimum Trade||0.01 Lots|
|AI / Machine Learning||No|
|Negative Balance Protection||No|
|Guaranteed Stop Loss||No|
CFD Trading Details
|GBPUSD Spread||Floating from 0|
Forex Trading Details
|GBPUSD Spread||Floating from 0|
|EURUSD Spread||Floating from 0|
|EURGBP Spread||Floating from 0|
Compare LiteForex Europe
Compare LiteForex Europe with similar brokers that accept traders from your location. Among available brokers these are the most similar to LiteForex Europe:
IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
Go to IG Group
Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
Go to Just2Trade
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.
Go to World Forex
LiteForex Europe Comparison Table
|LiteForex Europe||IG Group||Just2Trade||World Forex|
|Markets||Forex, indices, metals||CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting||Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds||Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts|
|Minimum Trade||0.01 Lots||0.01 Lots||0.01 Lots||0.01 Lots|
|Regulators||CySEC||FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA||CySEC, NFA, FINRA, Bank of Russia||SVGFSA|
|Bonus||–||–||Up to $2,000 for professional accounts||100% Deposit Bonus|
|Platforms||MT4, MT5||MT4, AutoChartist, TradingCentral||MT4, MT5, TradingCentral||MT4, MT5|
|Leverage||1:30||1:30 (Retail), 1:250 (Pro)||1:20||1:1000|
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 Group||Just2Trade||World Forex|
LiteForex Europe vs Other Brokers
Compare LiteForex Europe with any other broker by selecting the other broker below.
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.
|LiteForex Europe is a CFD broker established in 2008 and authorized by the CySEC. The brokerage offers trading on forex, commodities and indices via the MetaTrader 4 and MetaTrader 5 platforms. Spreads are ultra tight on ECN accounts and leverage is available up to 1:30 in line with EU regulations. LiteForex also offers a rich education centre for new traders and social trading capabilities.|