Then, the user creates a new demo or real MT5 account and trading can commence. If you choose the MT4 platform, the procedure is the same for downloads and installation. After installing the MT4 platform, you will be prompted to choose a server. Since ECN account holders can only trade on the MT4 platform, the servers are available.
Select the appropriate server, login with the login details and trading can commence. New accounts can also be created from the MT4 and MT5 platforms.
LiteForex does not accept traders USA, Israel and Japan.
Deposit & Withdrawals Options
“Credit/debit card, Bank wire transfer, local bank transfer, e-payment platforms as well as Cryptocurrencies are payments options accepted by LiteForex. Fees depend on the payment method used.”
The following payment methods are available to LiteForex clients:
Credit/Debit Card: LiteForex accepts major credit and debit cards. The minimum transaction amount is $10. There are no deposit fees. For withdrawals, the minimum amount is $1.01 and a withdrawal fee of 3.5% is charged. Card deposits are instantly processed.
Bank Wire Transfers: The minimum transaction amount is $100. There are no commissions. It takes 3-7 days for the complete processing of bank wire transfers.
Local Transfer: This is available in areas where LiteForex has representatives. Local transfers and Cash deposits into the local bank are accepted. Withdrawals are also transferred to the clients’ local bank account. There are no extra charges and all transactions are done in the local currency.
E-Payment Gateways: The accepted channels are: Skrill, Neteller, Perfect Money and The Qiwi, Yandex.Dengi. There are no deposit charges and the minimum transaction amount is $10. The withdrawal commission depends on the ePayment provider chosen. The commissions are: Perfect Money; 1.99%, Skrill; 1%, Neteller; 2%, Qiwi; 4% + 1RUB, WebMoney; 5%.
Cryptocurrencies: The accepted cryptocurrencies are Bitcoin, Litecoin, Monero, Ethereum, Bitcoin Cash and Bitcoin Gold. There are no deposit commissions and the minimum deposit is $10. For withdrawals, the commissions are as follows: Bitcoin; 0.5%, Ethereum; 0.9%, Litecoin; 0.9%, Monero; 0.9%, Bitcoin Cash and Bitcoin Gold; 0.9%. The minimum withdrawal amount is $1 except for Bitcoin which is 0.00051000 BTC.
Web & Desktop Trading Platforms
“Three trading platforms are available. They are the MT4, MT5 and the Social trading platform. The MT4 and MT5 are available as desktop and mobile applications.”
The trading platforms provided are as follows:
- MT4 Trading Platform: This is the most popular trading platform among forex/CFD traders. It has a variety of tools for trading and analysis. Its features can be extended with several plugins and apps. LiteForex provides the downloadable desktop version and the mobile versions of this platform.
- MT5 Trading Platform: The MT5 is designed by the same company (MetaQuotes Software Corp.) to succeed the MT4. It comes with all the features of the MT4 but in improved and expanded forms. LiteForex provides the desktop and mobile versions of the MT5.
The MT4 and MT5:
These two platforms were developed by MetaQuotes Software. The MT5 is to replace the MT4 and so, it is an improvement on the existing platform. Both of them have similar features.
Here are some of the features:
• Both platforms have the same simple and user friendly interface with customizable windows. Real time quotes are shown on the market watch and on the charts.
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