Review on LiteForex
LiteForex is regarded as a trustworthy online forex trading brokerage service provider located in Seychelles. Offering a wide range of trading support and accounts services, LiteForex focuses on helping the traders in taking informed decision.
Platform of Trading
LiteForex has created a proprietary form of MetaTrader 4, known as SIGTrader 4. Being a proprietary form of the most common trading platform of the world, SIGTrader provides an easy and simple interface and varieties of features. It offers large numbers of tools for executing several orders, different language support, technical pointers and an access to live news about trading. A smartphone terminal of trading as well as mobile trading terminal is also found for the purpose of downloading. A multiterminal platform of trading is found for traders who are involved in trading various devices in the world of trading like CFD’s, stocks, futures and Forex. More about platform you can read in Liteforex Review.
Procedures involved in Opening an Account
LiteForex provides two types of trading accounts for fulfilling the demands of traders. LiteForex is also defined as a form of a demo account; however, this permits people to try real trading with actual money. It is also known as a percent based Forex account which provides low gains. As per the official website of the company, even repeated gains from LiteForex trading account will not make payment for the internet bills of the user. However, it is always better compared to the demo trading account as it keeps a trader engaged in a trading environment, where there are chances of losing money. The minimum limit of deposit for this trading account is one dollar and it provides a high leverage amount of nearly 1:500.
The RealForex is regarded as a standard account. This account handles US dollar and also serves professional traders by keeping huge amounts of money under risk. It provides a maximum amount of leverage of nearly 1:200.
The process of opening an account is simple and easy with LiteForex. A person can fill the account opening form online. Once that form gets submitted, the person needs to send the number of trading account and deposit all the details to a forex broker through mail.
Withdrawal and Deposit:
LiteForex permits deposit of money through a wide range of electronic paying systems like for example, Moneybookers, Webmoney, Liberty Reserve and Alertpay. A broker does not have any limits for starting maximum deposits. However, according to the various recommendations made by a governing authority, a forex trader does not have to deposit over $3000. Withdrawal processes are considered to be tough for safeguarding trader deposits from the online stealing.
An enumerated trader can draw huge amounts of money just with the process that he or she has utilized for funding the account. For instance, if the trader utilizes an Alertpay account for funding the account, they can withdraw money just by using the Alertpay account.
LiteForex outshines in consumer support. The number of customer care which is toll free is found in Malaysia, Indonesia and Russia. Email support, contact forms and live chat are found either through the platform of trading or through the website of the company. The only disadvantage is that the consumer support services are found in English.
With a popular platform of trading and inordinate customer support, the company is regarded to be one of the best options for the expert traders. On the other hand, unprofessional traders still have the option that whether to put the cents into danger with a LiteForex account or study trading with a demo account at free of cost.
Pros and Cons
Some of the pros related to LiteForex are:
• Exclusive version of the MetaTrader 4 platform
• Low deposit trading account
• Perfect customer support
Some of the cons with LiteForex are:
• Multifaceted system for withdrawing money