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Best Litecoin Trading Brokers 2020

FX Empire Editorial Board
Last Update:
At FX Empire, we stick to strict standards of a review process. Learn about our review process. FX Empire may receive compensation. Here’s how we make money.

The brokers below represent the best Litecoin trading brokers.

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BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
OctaFX
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Your capital is at risk

CySEC

$50

1:500

cTrader, MT4, MT5

2011

ECN, STP

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Your capital is at risk

IC Markets
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Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

ASIC, CySEC, fsa-sc

$200

1:500

cTrader, MT4, MT5

2007

ECN, No dealing desk

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Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

First Prudential Markets Pty Ltd
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Your capital is at risk

ASIC, CySEC

$100

1:500

IRESS, MT4, MT5, webtrader

2005

No dealing desk

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Your capital is at risk

FXTM
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90% of retail CFD accounts lose money

CySEC, FCA, FSC

$10

1:30

MT4, MT5

2011

No dealing desk

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90% of retail CFD accounts lose money

Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.

Best Litecoin Trading Brokers


Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

OctaFX

Regulated By:CySEC

Foundation Year:2011

Headquarters:Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines

Min Deposit:$50

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Your capital is at risk

OctaFX is a Forex and CFD trading platform with a focus on low, competitively priced spreads. It supports MT4, MT5, and cTrader trading platforms. cTrader offers the lowest costs, but does require a bit more experience. Novice traders are best starting off at OctaFX using MetaTrader 4, which supports micro accounts.

OctaFX supports 28 currency pairs, a smaller number than many competitors. You can get leverage up to 500:1 for currencies. Different leverage is available for metals, indices, and crypto trading. OctaFX was founded in 2011 and is based in and licensed in Saint Vincent and the Grenadines. 

Pros: Cons:
  • Low spread pricing
  • 3 different platforms and flexible pricing
  • Free Forex demo available
  • Just 28 currency pairs
  • Limited deposit options
  • Lost UK Financial Conduct Authority coverage in 2017

IC Markets

Regulated By:ASIC, CySEC, fsa-sc

Foundation Year:2007

Headquarters:International Capital Markets Pty Ltd Level 6 309 Kent Street Sydney NSW 2000, Australia

Min Deposit:$200

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Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

IC Markets was founded in Sydney, Australia in 2007 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the Seychelles Financial Services Authority (FSA). According to the broker’s website, they processed $646 billion worth of trading volume in April 2019 alone.

While the broker offers services and features designed for both beginner and professional traders, the company promote themselves as the ‘go to’ choice for high volume traders, scalpers and trading algos due to their New York Equinix NY4 data centre – processing over 500,000 trades per day.

Pros: Cons:
  • True ECN broker with institutional grade liquidity.
  • MetaTrader and cTrader available on desktop, web and mobile.
  • Wide range of tradable products with 24/7 customer support.
  • Impressive library of educational material and videos.
  • Beginner traders may be overwhelmed by the choice of markets and platforms.

FP Markets

Regulated By:ASIC, CySEC

Foundation Year:2005

Headquarters:Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia

Min Deposit:$100

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Your capital is at risk

This brokerage offers a massive range of tradable assets through Forex, CFD, and share trading accounts. FP Markets supports the MT4, MT5, and IRESS platforms and offers leverage up to 500:1. You can trade 45 currency pairs with competitive spread or commission pricing.

FP Markets was founded in 2005 and is headquartered in Sydney, Australia. It is regulated by by the ASIC in Australia. Demo accounts are available. While it is suitable for beginners, education resources are limited. 

Pros: Cons:
  • 10,000+ tradable assets
  • Choose between 3 trading platforms
  • Competitive spread pricing on raw account
  • High spreads on the standard account
  • A range of possible additional fees
  • AU $200 minimum opening balance

FXTM

Regulated By:CySEC, FCA, FSC

Foundation Year:2011

Headquarters:FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus

Min Deposit:$10

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90% of retail CFD accounts lose money

FXTM, short for ForexTime, is a platform with a primary focus on foreign exchange. That specialization allows it to rise above many others when it comes to Forex focused trading platforms and tools. CFDs are available on 50+ currency pairs including major, minor, and exotic pairs. Leverage is available up to 1000:1.

Spreads are competitive across all platforms with 24-hour trading open 5 days per week. FXTM is based in Cyprus and licensed by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission, and other regulators in and out of the EU. A free demo account is available. 

 Pros:  Cons:
  • Support for 250+ products to trade across global markets, including Forex, commodities, shares, indices and cryptocurrency CFDs
  • Competitive spreads
  • MetaTrader 4 and MetaTrader 5 platform support
  • Low maximum order size
  • No nat

What is Litecoin?

Litecoin is a peer-to-peer globally decentralized cryptocurrency which enables users to make payments to anyone in the world instantly and at near-zero payment costs. Created by Charlie Lee and with a market capitalization of $3.28billion (data source: Coinbase), Litecoin is based on open source technology. The network on which Litecoin runs is secured using complex Mathematical calculations. Litecoin was built to offer a cryptocurrency which could offer improved speed of transactions, faster confirmation times and better storage efficiency than Bitcoin.

What Led to the Creation of Litecoin?

The original concept behind the creation of Litecoin was to setup a system of payments without centralized control by a government agency. To be able to adapt itself to this purpose, it was necessary to have a cryptocurrency that could offer fast transaction confirmations. Bitcoin’s average confirmation time is about 30 to 100 minutes, depending on the location of the wallet. The Litecoin blockchain is a vast improvement on this metric, with the capacity to handle higher transaction volumes than Bitcoin. The Litecoin network is also designed to permit more frequent generation of new blocks, which allows the network to support more transactions without the need to modify the software too radically in future. This has also cut down the transaction confirmation time to just 2 minutes.

As a result, merchants who offer Litecoin as a payment method can get faster confirmation times for transactions on their e-commerce portals, while still being able to await more confirmations for transactions on bigger ticket items.

Litecoin Trading Explained

Litecoin can be acquired using any of the following methods:

  1. Just like the other cryptocurrencies, Litecoin lends itself to mining, which is the primary method by which this cryptocurrency is generated. The reward for mining presently stands at 25 new Litecoins for each new block generated. Mining consists of solving the complex Mathematical calculations, which creates a new block for each correct solution. Successive mining attempts get more difficult and give lesser yields, as the amount generated by mining is reduced by half every four years.
  2. You can purchase Litecoin and store it in your Litecoin wallet. Usually, this is done through exchanges that offer Litecoin for sale.
  3. There are also traders who will prefer to make money from Litecoin without holding the asset itself. Usually, such traders will pay a visit to the forex platforms that offer Litecoin as a CFD asset, usually in a pairing with the US Dollar (LTC/USD).

Litecoin has benefitted from the bull market in cryptocurrencies and after a lull period has gained 1,400% in 2017 (data current as at August 29, 2017). Plans are presently underway to develop the Lightning Network, which is going to be the new network on which the Litecoin blockchain will run. This will cut transaction confirmation times of Litecoin from 2 minutes to a few seconds, making it more adaptable to its originally fashioned use as a payment currency.

How to Buy Litecoin

The easiest means of acquiring Litecoin is to buy it from an exchange or from other Litecoin holders. Not many people have the resources to mine litecoins. Buying Litecoin from an exchange can be done using:

  • Fiat Currency

You can buy Litecoin from designated exchanges using your regular everyday legal tenders such as US Dollars or Euros. Buying Litecoin with fiat currency can be done in two ways.

  • Direct Litecoin purchase (Fiat currency -> Dash) on exchanges which permit such direct routes of purchase.
  • Indirect purchase (Fiat currency -> transferred to exchange -> Used to purchase Litecoin from other users on the exchange)

Due to the view of different country regulators on the exchange of fiat currency for cryptocurrency, funding of your account for the purchase of Litecoin is not always a straightforward process. The following methods of sending fiat currency to exchanges for Litecoin purchase are as follows:

  • Credit/debit cards which are linked to a bank account.
  • PayPal (selected countries only).
  • Digital currency wallets such as Skrill, Moneta, PaySafe, GiroPay, Neteller, OKPay, WebMoney, etc.
  • Direct Bank transfers using the SWIFT or SEPA system.

You must check the rules regarding transfers of fiat currency to a cryptocurrency exchange from your country before you engage this method. You must especially be careful to ensure you are not breaking any laws. Also be aware that you will be charged a commission anytime you transact on your Litecoin wallet. You must consider this when choosing a payment method with which to fund your Litecoin account.

  • Buying Litecoin from Other Users

Buying Litecoin from other users using off-exchange methods is becoming a popular means of acquiring Litecoin. This involves transferring of Litecoin from one user’s wallet to the wallet of another user, with the recipient paying for the Litecoin cache using fiat currency or another cryptocurrency. This is a more risky way of trading Litecoin as there is no escrow protection for buyers of Litecoin. However, the elimination of transaction fees which are charged by exchanges seems to be the attraction for this model of trading.

Speculative Trading of Litecoin

The volatility in the price of Litecoin seen in 2017 has lent the cryptocurrency to online trading, where traders can profit from the differential in prices. Litecoin can be traded in the Over-the-Counter (OTC) market on exchanges or traded as a Contract for Difference (CFD) asset on forex platforms. Buying or selling Litecoin on the OTC market involves using exchanges that are designated for this purpose.

  • Trading Litecoin on the OTC Market

Some Litecoin exchanges offer the opportunity to buy, hold and resell Litecoin for profit. This requires that the trader owns a Litecoin wallet where the cryptocurrency will be held. You can download a wallet from third party companies on the app stores, or you can get one setup for you from the exchanges themselves.

In order to commence trading, fund your wallet with fiat currency, or using Bitcoin or Ethereum. Funding conditions will differ from exchange to exchange.

  • Trading Litecoin as a CFD

Forex platforms have begun to offer contracts which feature Litecoin as a pairing with fiat currencies. The commonest pairing is that of Litecoin against the US Dollar (LTC/USD). Spreads are typically large and traders need to have well-funded accounts to cope with the margin requirements.

LTC/USD is amenable to trading using technical and fundamental analysis. As an example of a fundamental trigger and a technical entry, this is the chart of LTC/USD as it responded to the news of the Chinese ban on issuance of new ICOs from the country.

Litecoin Chart

Trading Litecoin as a CFD asset requires a sound knowledge of technical analysis. Trading Litecoin as a CFD has some advantages:

  • You are allowed to use leverage, which enables you setup large positions with a smaller amount of money and still reap the full profits of the leveraged position. Some platforms may even offer up to 1:400 leverage, requiring the trader to come up with just 2.5% of the total amount required to setup the position.
  • Trading of Litecoin is continuously done every day of the year, providing continuous trading opportunities.
  • You can engage the services of signals providers, or companies that provide Litecoin copy trade services. There are now several of them in the market that provides buy and sell entry/exit points for the LTC/USD pairing.

Litecoin Trading Sites, Brokers, and Software

The purpose of this article is to show you how to trade Litecoin for money. You may decide to use a Litecoin exchange, which is where you can buy Litecoin using fiat currency, digital currencies or other cryptocurrencies (commonly Bitcoin), and resells for profit when prices move up. The strategy is to purchase at lower prices, hold for appreciation of price and resell for a profit. This method depends on buying when prices have pulled back to a level deemed as being cheaper to buy with a lot of upside room. The key distinguishing factor between this model of trading and the trading of Litecoin as a CFD asset is that gains can only be made when prices rise. Short-selling of LTC is not possible on these exchanges.

There are also exchanges where traders are allowed to trade Litecoin as an OTC asset, usually on margin. By allowing the use of leverage, these exchanges offer traders an improved service beyond the regular exchanges offering “buy and hold” models of trading.

Litecoin Trading

This is an improved model of Litecoin trading because it allows traders to short the asset. However, a lack of charts and technical tools for analysis makes it hard to know exactly when to enter and exit positions. So the trader is still exposed to a lot of risks.

The final model is trading Litecoin as a CFD asset. Usually, this works on forex platforms where traders are given access to charts and technical tools, which enable the precise setting of entry and exit points with good reward-risk ratios. This model also permits the shorting of Litecoin and ability to trade with leverage.

Several factors must be considered when choosing an appropriate model for your Litecoin trading:

  1. Consider what payment methods you can use from your location, and the cost implications.
  2. Does the exchange/brokerage you want to use have a good track record when it comes to speedy fulfillment of withdrawal requests?
  3. Are you good at technical analysis or do you have access to good signals services which employ technical analysis for trade decisions?
  4. Is the exchange or brokerage amenable to use of automated trading services/robots?

The answers to these questions will guide you on how to choose the best Litecoin exchange for your business.

Conclusion

In conclusion, we present the best Litecoin trading brokers for 2017. Whether you choose to buy and hold Litecoin with the aim of reselling it for profits in future, or you simply want to acquire Litecoin for making payments, you definitely need to acquire an initial amount of the cryptocurrency. To do this, you need to come up with brokers or exchanges that will enable you to acquire your first consignment of Litecoin.

This list of the best Litecoin exchanges and brokers for 2017 features brokers and exchanges that meet the following criteria:

  • Well regulated, with a clean track record.
  • Brokers who fulfill withdrawal requests with no stories involved.
  • Brokers with a transparent pricing of Litecoin contracts.
  • Brokers that allow the use of trading robots to trade the Litecoin CFD assets on their platforms.
  • Exchanges and brokers that offer great security against cyber threats to Litecoin holders.
  • Exchanges and brokers that offer several means of payment for greater inclusiveness among nationals of various countries.

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Trade With A Regulated Broker

  • Your capital is at risk