Established in 2005, LiteForex is a broker trading a wide range of currency pairs and various CFD contracts (including cryptocurrencies) on MetaTrader 4 and MetaTrader 5. There are two companies behind this brand - LiteForex Investments Limited, which is registered on the offshore market, and LiteForex (Europe) Ltd., based in Cyprus and licensed by CySEC. LiteForex bought Cypriot, which once served the Mayzus brand.
It has ten years of presence in the forex market and now in the leading British financial magazine World Finance «100 World Finance» in the world. The only thing LiteForex missed until recently was a decent broker license on the Forex market. Now that it is there, it is on its way to achieving its goal - ensuring the highest quality of services.
CySEC requires licensed companies to have a minimum of EUR 730,000. Because they have to prove their financial stability, maintain customer funds separately from the company's operating assets, and regularly report to the Commission.
Besides, all clients of authorized financial services companies can receive compensation of up to EUR 20,000. This is only applicable if the broker becomes insolvent or closes down.
The least amount needed to start an account in the LiteForex system is 10 USD. It is a relatively small amount, taking into account the lack of regulation. What's more, you can get access to the ECN transactional environment for only $ 50.
LiteForex offers its services on the two most popular platforms among traders - MetaTrader 4 and MetaTrader 5.
MT4 is available as a desktop version, and mobile applications is a web version, called the MetaTrader 4 network terminal. This professional, fully functional software provides investors everything they need: fast order fulfillment, various technical indicators, advanced tools for creating line charts and the possibility of developing and using Expert Advisors (EA).
Best Forex Brokers By Countries List
Top Rated Online Best Forex Brokers 2021