LiteForex broker review - A broker with average spreads and high commissions
Written by:
Written on:
26 March 2023
Last edit:
21 February 2024
Our rating:


LiteForex broker review - A broker with average spreads and high commissions
Written by:
Written on:
26 March 2023
Last edit:
21 February 2024
Our rating


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
See how LiteForex compares to it's closest alternatives.

Main summary

LiteForex is a regulated Forex broker that mainly targets European countries when expanding its client base. The broker offers mainly Forex currency pairs and is regulated in Cyprus. The company started its brokerage operations in 2005 and today is serving thousands of clients worldwide. In 2021 LiteForex conducted a lucky draw contest where the total prize fund was worth $350 000. The broker has a social trading platform for copying the trades of professionals and offers ECN technology for fast trade executions. It is possible to set up automatic withdrawals to make withdrawals faster and more convenient. 

Let's dive in and discuss other critical details about the LiteForex broker.

Pros & cons of LiteForex broker

  • Ability to deposit and withdraw with $0 fees
  • Offers access to MetaTrader 4, MetaTrader 5
  • Fast and digital account opening/verification
  • Offers access to 56 Forex pairs
  • Low minimum deposit requirement of only 50 USD
  • No cryptos are available
  • Maximum leverage is only 1:30

LiteForex Fact sheet

Main features
Regulations Cyprus
Fees on deposits 0 USD
Fees on withdrawal 0 USD
Inactivity fees 0 USD
Minimum deposit 50 USD
Minimum account activation 50 USD
Number of available assets 84
Leverage up to 1:30
Available trading markets Forex, Commodities, Indices
Account currencies USD, EUR, GBP, PLN
Demo account Yes
Live account types ECN, Classic
Islamic account Yes
Negative balance protection Yes
Part of compensation fund Yes
Keeps funds on segregated bank account Yes
Forex 56
Shares 0
Cryptocurrencies 0
Indices 22
Commodities 6
Total 84
Fees & spread
Forex From 2.3 pips
Shares N/A
Cryptocurrencies N/A
Indices From 0.3
Commodities From 0.2
Platforms MetaTrader 4, MetaTrader 5
Mobile trading support Yes
Mac device support Yes
Commodities Yes
Payment systems
Payment methods Bank Transfer, Credit/Debit Card, Neteller, Skrill
Minimum deposit Bank Transfer, Credit/Debit Card, Neteller, Skrill
Minimum withdrawal Bank Transfer, Credit/Debit Card, Neteller, Skrill
Withdrawal processing time instant
Time to open an account -
Show all

Safety & Security of LiteForex

LiteForex operates under a Cyprus Securities and Exchange Commission (CySEC) license. In addition to these regulations, the broker has a number of security measures in place to protect client funds. LiteForex is a part of the investor compensation fund and all client funds are kept in segregated bank accounts, preventing the broker from using client money for their own purposes. Furthermore, to prevent a trader from losing more than their account balance, the broker offers negative balance protection.


Account types available for traders on LiteForex

There are two account types offered by LiteForex, called ECN and Classic accounts. Along with this, they offer a free demo account. The difference between the two account types lies in the spreads being charged and other details. The maximum leverage is the same for both accounts and is capped at 1:30 for Forex major pairs, while for other instruments and minor pairs, the leverage is lowered to 1:20. The spreads for EUR/USD start from 2.3 pips on the Classic account, which is very expensive. For ECN accounts, spreads are considerably lower, starting at 0.3 pips for EUR/USD major currency pairs. However, there are commissions of $5 per side per lot on major Forex pairs when trading with ECN accounts, and for cross pairs, it is $10 per side per lot. These commissions are expensive, as many brokers only charge $3.5 per side per lot. Forex minor pair commissions jump to $15 per side per lot, which is also very high. For metals, the commission on the ECN account is $10 per lot per side, meaning all these commissions have to be multiplied by two to get a full picture of the commission for each position. As long as the strategy the trader employs is not a long-term strategy, the ECN account offers much better trading terms. Since the minimum deposit is $50 for both account types, the decision is up to a trader on which one is more suited for them. There is also a social trading network available for both account types. 

Fees & commissions review of LiteForex

Comparing LiteForex fees with other brokers

As we have seen above the LiteForex fees seem a bit high, to further clarify the picture let’s compare it with other popular brokers on the market.

LiteForex fees compared to Interactive Brokers fees

Type of FeeLiteForexInteractive Brokers
EUR/USD SpreadFrom 2.3 pipsFrom 0.6 pips
Fees on Deposits0 USD1%
Inactivity fee0 USDNo*

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

LiteForex fees compared to CM Trading fees

Type of FeeLiteForexCM Trading
EUR/USD SpreadFrom 2.3 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 15 EUR/USD per month after 60 days of inactivity

LiteForex fees compared to plus500 fees

Type of FeeLiteForexplus500
EUR/USD SpreadFrom 2.3 pipsVariable
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 10 USD per month after 3 months of inactivity

LiteForex fees compared to XM fees

Type of FeeLiteForexXM
EUR/USD SpreadFrom 2.3 pipsFrom 0.6 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 15 USD after 12 months, +5 USD/m

LiteForex fees compared to AvaTrade fees

Type of FeeLiteForexAvaTrade
EUR/USD SpreadFrom 2.3 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 50 USD after 3 months, 100 USD administration fee after a year

LiteForex fees compared to fees

Type of
EUR/USD SpreadFrom 2.3 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 50 USD after 3 months, 100 USD administration fee after a year

Trading platforms and mobile trading reviewed at LiteForex

LiteForex provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as the main trading platforms. These platforms are among the most advanced trading software in the world, providing many inbuilt indicators and the ability to install custom indicators and automated trading systems called Expert Advisors (EAs). LiteForex also offers social trading capabilities, and MT5 has inbuilt plugins for this purpose. Additionally, mobile trading is also offered through the MT5 Android app. 

Education and research tools offered by LiteForex

The broker provides learning materials for beginners that can be found in the “For Beginners” section of the website. The study materials provided by LiteForex include:

  • Forex glossary - Trading terms explanations for newbies
  • Forex books - includes professional Forex literature
  • Tutorials and trading strategies - includes tutorials on various terms and topics and trading strategies offered by veteran traders.

Where LiteForex excels is in the trading tools offered for free by the broker. The tools include an economic calendar, technical and fundamental Forex analysis, analytical materials from Clawthorne (an independent trading agency), economic news, a currency calculator, and currency rates. All these tools are useful when trading and provide some assistance to traders, increasing their potential accuracy when making trading decisions. LiteForex also offers a Fibonacci calculator, which can further assist traders in defining better entry and exit points. 

Customer support of LiteForex

It is possible to access LiteForex live chat in a demo mode and get answers to all your questions. They are polite and know what their broker has to offer. Additionally, the website is multilingual together with the live chat which is available 24/5 in 22 languages. Live chat provides the ability to connect to LiteForex’s different departments, including partnership and financial departments, together with general customer support. Traders can also connect with the broker directly via phone call. Email and leaving message options are also available. With all this combined, LiteForex offers excellent customer support services. 


LiteForex is a regulated broker offering Forex pairs as its main trading product. The broker has a social trading platform and offers ECN technology which is available together with automated withdrawals, making the trading process very comfortable and streamlined. But the broker has high spreads and commissions and may not be suitable for traders who prefer low trading fees and commissions. ECN accounts offer much more value in trading terms with low spreads, but still, the commissions are higher than with other popular brokers. LiteForex has a very good education center with advanced Forex trading educational materials and books.

Additionally, the broker also offers advanced trading tools to assist their traders. The website is multilingual, and customer support is available 24/5 via live chat, which is also multilingual. 

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FAQs about LiteForex

Is LiteForex a good broker?

LiteForex is a regulated broker that offers some advantages. With ECN account types and automatic withdrawals, there are some good aspects to it. The commissions are a bit expensive though, making its offerings less attractive to seasoned traders. 

Can I withdraw money on the same day?

It is possible to process withdrawals within 24 hours and you can even set automatic withdrawals to take out your money instantly on a scheduled basis, making withdrawals a more comfortable and stable experience.

Which is the best trading account offered by LiteForex?

The ECN account is a much better variant for trading as all the other terms are the same for both Classic and ECN account types, except that spreads are much lower on ECN accounts. It should be noted that their commissions are a lot more expensive than other brokers.