LiteForex Fees and Minimum Deposit - TU Expert review
While reliability is paramount, fees and minimum deposits are crucial factors when choosing a broker. Lower fees with diverse options make a broker more attractive for trading. The minimum deposit is another important factor for new traders who may not have a substantial amount to invest immediately.
Traders Union analyzed LiteForex fees, minimum deposit requirements, and commission structure to assess their suitability for beginner traders.
Short introduction of LiteForex
The LiteForex (LiteFinance) broker is a high-tech company that constantly offers innovative solutions for active and passive trading. The LiteForex group of companies was incorporated in 2005, and it has risen through the ranks to become a market leader. Today, LiteForex (LiteFinance) is an online ECN broker with unique technical solutions for transferring transactions to the interbank and directly to liquidity providers. Social Trading is a mechanism for automatic copying of other traders’ transactions (see, SocialTrading platform) and other advantages for comfortable and efficient trading. LiteForex Broker is one of the largest and leading brokers in Malaysia.
| 💰 Account currency: | USD, EUR, CHF, MBT |
| 🚀 Minimum deposit: | $50 USA |
| ⚖️ Leverage: | Up to 1:500 |
| 💱 Spread: | Classic — from 1.8 pips, ECN — from 0 pips |
| 🔧 Instruments: | Currencies, assets of stock and commodity markets, cryptocurrencies |
| 💹 Margin Call / Stop Out: | 100% / 20% |
LiteForex Commissions and Fees
Traders Union analytics analyzed LiteForex (LiteFinance) offer and trading conditions for explicit and hidden commissions. The main commissions — spread and commission on an ECN account — from US$5 per 1 lot. There are no commissions for depositing and withdrawing from an account as LiteForex (LiteFinance) pays it to your trading account.
| Account type | Spread (minimum value) | Withdrawal commission |
| Classic | From $18 | No |
| ECN | From $0 | No |
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Forex market:
-
Spread – the difference between the buy and the sell price of an asset.
-
Commission per lot.
-
Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
LiteForex Minimum deposit
How to Start Making Profits — Guide for Traders
LiteForex (LiteFinance) offers two types of accounts. The classic account is an account for those who prefer intraday, medium and long-term strategies with small trade volumes. ECN account is a professional account with market spreads from 0 pips and instant order execution. It is perfect for high-frequency trading.
Types of accounts:
You can get acquainted with the broker's capabilities and platform functionality using a demo account.
Brokers similar to LiteForex
When analyzing LiteForex, it is important to compare it with other similar companies. Before you choose a broker, it is important to compare its trading conditions with competitors. Traders Union analysts have prepared a comparison of the minimum deposit and other trading conditions of LiteForex and other brokers.
Comparison of LiteForex with other Brokers
| LiteForex | RoboForex | Pocket Option | Exness | FxGlory | Libertex | |
|---|---|---|---|---|---|---|
|
Trading platform |
MT4, MT5, MultiTerminal, Sirix Webtrader |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, Mobile Trading, MT5 |
Libertex, MT5, MT4 |
|
Min deposit |
$10 |
$10 |
$5 |
$10 |
$1 |
$100 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
|
Trust management |
Yes |
No |
No |
No |
No |
No |
|
Accrual of % on the balance |
7.00%% |
No |
No |
No |
8.00%% |
No |
|
Spread |
From 0.5 points |
From 0 points |
From 1.2 point |
From 1 point |
From 2 points |
From 0.1 points |
|
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
|
Execution of orders |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Instant Execution, Market Execution |
Market Execution, Instant Execution |
|
No deposit bonus |
No |
No |
No |
No |
No |
No |
|
Cent accounts |
Yes |
Yes |
No |
No |
No |
No |
| LiteForex | RoboForex | Pocket Option | Exness | FxGlory | Libertex | |
|---|---|---|---|---|---|---|
|
Forex |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
|
Metalls |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
|
Crypto |
Yes |
No |
Yes |
Yes |
No |
Yes |
|
CFD |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
|
Indexes |
Yes |
Yes |
Yes |
Yes |
No |
Yes |
|
Stock |
Yes |
Yes |
Yes |
Yes |
No |
Yes |
|
ETF |
Yes |
Yes |
No |
No |
No |
Yes |
|
Options |
No |
No |
No |
No |
No |
Yes |
Could I recommend LiteForex to a beginner trader?
Analysis of LiteForex shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
FAQs
Can the fees differ depending on the asset?
Yes. This is why many brokers specify the fees for each asset individually.
Can you reduce the fees?
As a rule, the fees depend on the trading account type. Also, companies may have special offers.
Can the level of the fees change if different accounts imply the use of different platforms?
Yes. Some brokers offer different trading platforms on different types of trading accounts. In this case, the size of the fee may change.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.