|Company:||LiteForex Group of Companies|
|Offices in:||Indonesia, Malaysia, Russian federation|
|Payment options:||Liberty Reserve, Liqpay, Moneybookers, OKPAY, Payza, Perfect Money, WebMoney,
|Demo Platforms:||MetaTrader 4, MetaTrader 5|
|Account currencies:||Euro, Russian rouble, Swiss franc, United States dollar|
|Currency pairs:||AUD/CAD AUD/CHF AUD/JPY
AUD/NZD AUD/USD CAD/CHF
CAD/JPY CHF/JPY EUR/AUD
EUR/CAD EUR/CHF EUR/GBP
EUR/JPY EUR/NZD EUR/USD
GBP/AUD GBP/CAD GBP/CHF
GBP/JPY GBP/NZD GBP/USD
NZD/CAD NZD/CHF NZD/JPY
NZD/USD USD/CAD USD/CHF
USD/CZK USD/DKK USD/HKD
USD/HUF USD/JPY USD/MXN
USD/NOK USD/PLN USD/SEK
|US Traders welcome?:||No|
|Website available in (languages):||French, Greek, Indonesian, Malay, Russian, Spanish|
|Support available in:||Bengali/Bangla, Czech, English, Indonesian, Malay, Russian|
|Support methods:||Callback, Forum, Live chat, Phone|
|Account Types (micro standard executive islamic):||LITEForex- MT4, REALForex- MT4, Floating Spread-MT4, STP-MT4, LITEForex- MT5, REALForex MT5|
|Minimum account size:||$50|
|Minimum position size:||0.001 lot|
|Minimum spread on EUR/USD, pips:||3|
|Trading instruments (GOLD; CFD, etc. and the leverage):||Forex-1:1000, Gold & Silver- 1:1000, CFD, 1:1000, Oil- 1:1000|
|Number of currency pairs:||31|
|Trading platforms:||MetaTrader 4|
|Trading by telephone:|
|Islamic accounts available:|
|Overnight interest rates (swaps):||Yes|
LiteForex was established in the year 2005 and is online since then and is well known company in the Forex market. It offers to its client the standard trading platform, the MT4 and hence very much similar to scores of brokers in the market. However, to distinguish themselves from other brokers LiteForex have an account which can be opened with the minimum deposit being $1 which is a very big advantage over many brokers who have minimum deposit as $100 or above. They allow trading in Forex with a leverage of 1:1000 which can help traders gain much profit. They also allow trade in gold and silver, CFD and oil at the same leverage. However, their main focus is on forex market and has many offering which helps traders to trade successfully.
They also have mobile trading in offering. We know that mobile industry is on boom and everything is offered on the mobile. However, mobile trading has also caught up the attention of mobile trading and is using it as an offering to anyone willing to trade while on the move. LiteForex has MT4 software that can be downloaded on your mobile. They also offer free demo account which is standardized and have all advanced trading tools which includes market analysis, trading history and also allows you to trade with high leverage. Their depositing of money and withdrawal is made as easy as possible through various payment options which include, MoneyBooker, LibertyReserve, Bank Ware, Alert Pay and WebMoney. Their website is available in 14 different languages which show that they always try to provide excellent service to their customers. They allow trade in around 40 currency pairs with spread fluctuating between just 3 to 4 pips. They also do not charge any commission on the trade done and is a very big advantage for the brokers.
If you want to know about the performance of any company it is best to read their review online. This will give an insight into the services provided by them and their performance. LiteForex is one company which has many positive reviews and traders have many good things to speak about them. The first and foremost thing mentioned in most of the reviews is that they allow you to open an account and start trading with a minimum deposit of $1. However, one should not start expecting profit with $1 deposit but yes, one can definitely know about trading with this amount of money in their account. Many reviews says that the withdrawal of the money is very easy and takes less than 48 hours and is a great advantage of many other companies where withdrawal of money is a big issue. The customer support service has a state of the art infrastructure and one has the facility of directly speaking to their representative in English, French, Portuguese and Spanish. One more thing that is mentioned in a few reviews is about the training materials which are available online and are very informative and is excellent tutorial for many beginners.
PAMM System in LiteForex
PAMM account is also provided by the LiteForex and hence it gives the managers the facility to manage their clients account better than working on multiple MT4 platforms. Without PAMM accounts the money managers have to work on multiple platforms at one time to manage their clients account and hence used to limit their service to their clients.
There are several advantages of opening a PAMM accounts with LiteForex and it includes:
- They provide to their customers functional ranking in which the accounts are ranked according to their profitability, lifetime, managed capital etc.
- They provide a regulated and updated review of the managers accounts with correct statistics data which further helps to analyze and understand the principle on which the manager works.
- They give the facility of withdrawing and depositing money at any time at your convenience.
- There is no penalty or fees for withdrawing the fund early.
- You do not require monitoring the account regularly as everything is automated.
- The funds of the investor are safe in their account and can only be accessed by them.
- Even though the manager is trading with investor’s account, the money is never deposited in the manager’s account.
- The manager does the trading from his account and the transaction executed is reproduced in all the accounts attached to the PAMM account, along with the manager’s investment account.
- The investor has the facility of predetermining the maximum drawdown level and even the profit amount. Once the limit is reached the investment gets withdrawn.
- With the possibility of investment being made in several PAMM accounts the risk is differentiated and the efficiency of the invested money is increased. However, one should distribute the money skillfully between different managers based on their ranking and the profit that they make.