LiteForex Malaysia - LiteForex Broker Review

 

 

LiteForex Malaysia, founded in 2005, is a reliable high-tech ECN Forex brokerage company that provides its clients with top tier liquidity in the foreign exchange market. The company is registered in the IBC of Marshall Island and regulated in accordance with the Marshall Islands Business Corporation Act under the names of LiteForex Ltd. and LiteForex Investments Limited.

It should be noted that the services offered by LiteForex are currently unavailable to the citizens of the United States, Japan, Israel, as well as EEA countries.

Over the years, LiteForex has been providing a wide range of high-tech trading services such as standard currency trading, PAMM investments, and copy trading on MetaTrader 4, MetaTrader 5, its exclusive WebTerminal, Mobile Trading Apps, as well as Social Trading platforms. The company has also managed to achieve several prominent awards, including the Best Client’s Service in Latin America 2012 by Tutores-FX International trader school, as well as the Fastest Growing STP Broker in Western Europe 2013 by Global Banking & Finance Review.

Trading at LiteForex Malaysia is offered in LiteForex Cent account for new traders, and in LiteForex Classic as well as LiteForex ECN accounts for professional traders. The registered clients of LiteForex can access a wide range of trading instruments including currencies, precious metals, CFDs, oil, stock indices, and cryptocurrencies with low floating spreads starting from 0 pips, low to no commissions, and leverage as high as 1:500.

LiteForex Malaysia also strives to create a favorable atmosphere for its clients to experience easier trading and financial transactions with the help of competent and exclusive personal managers, optional VPS services, as well as various payment systems including credit cards, e-wallets, bank wire transfers, and cryptocurrency with automatic withdrawal options.

Should you encounter any problems, LiteForex Malaysia offers professional customer support, available 24 hours from Monday to Friday, via email, social media, live chat, and WhatsApp. You’d also have access to a detailed and comprehensive FAQs section for further inquiries.

 

New traders who just finished demo trading can start their first real-life currency trading with the LiteForex Cent account. These traders will be able to trade in micro-lots with tight floating spreads as low as 3 pips with no commission, and leverage as high as 1:200 with a minimum deposit of 10 USD. Cent Account holders are also allowed to place a maximum of 300 orders using MetaTrader 4 and MetaTrader 5 platforms. Please note that this trading account does not offer social trading services and is unavailable to traders who live in India, the Philippines, and the United Arab Emirates.

Meanwhile, experienced traders can use the LiteForex Classic account, which is a Forex standard account with no stop/level limit. By making a minimum deposit of 50 USD, traders will be able to trade in unlimited standard lots and benefit from tight floating spreads from 1.8 pips with no commission, as well as maximum leverage of 1:500 via MetaTrader 4 and MetaTrader 5 platforms. LiteForex Classic accounts also feature social trading networks, where fellow traders will be able to communicate and copy each other’s trading strategies. Moreover, the traders who register for the LiteForex Classic account will be granted a deposit bonus of up to 30%.

Finally, the ECN account is offered to pro traders who expect a far better performance from their trading account, in which spreads are incredibly tight and floating from 0 pip for an unlimited number of orders. For this type of account, traders need to make a minimum deposit of 50 USD to access it via MetaTrader 4, MetaTrader 5, and LiteForex social trading platforms to benefit from maximum leverage of 1:500. Bear in mind that ECN account holders are to pay a $5 commission for each traded lot.

LiteForex perfectly understands that there are certain limitations for Muslim clients. Therefore, the company offers Islamic swap-free account services to its Muslim traders to carry forward their trading positions to the next day without having to pay additional charges. This feature will be available by request after traders open a live account and verify their account credentials.

Additionally, LiteForex Malaysia allows all sorts of trading activities in an ECN environment. That is to say, traders can do their trades with instant executions, no requotes and without any interference from the brokers; rest assured, there will be no conflict of interest between traders and brokers.

 

LiteForex Malaysia Deposit & Withdrawal

 

Deposits at LiteForex Malaysia are free of charge. Traders may need to pay a certain fee to their payment system; however, this fee will be fully returned by LiteForex and deposited directly into their trading accounts under the customer loyalty program.

 

LiteForex offers the following deposit methods, with a minimum required amount of only 10 USD.

 

Credit cards (VISA & MasterCard)

E-wallets (Skrill, Neteller, Perfect Money, QIWI, WebMoney)

Cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Bitcoin Gold, LiteCoin, Monero)

 

Traders can also deposit their money using bank wire transfers:

 

International Bank Wire Transfer (SWIFT) ➜ min. 100 USD

Bank Transfer (Santrapay) ➜ min. 500 USD/EUR, 7% commission in EUR.

Malaysian Bank Wire Transfer (Maybank and CIMB) ➜ min. 45 MYR

 

Withdrawals at LiteForex require a certain commission which varies between payment systems:

 

Credit Cards ➜ min. 15 USD/EUR, 3 – 3.5% commission

Skrill ➜ min. 1 USD, 1% commission  (max. 0.57 USD / 0.5 EUR / 2.23 PLN)

Neteller ➜ min. 1.01 USD, 2% commission  (min. 1 USD / 0.86 EUR, max. 30 USD / 25.86 EUR)

Perfect Money ➜ min. 1 USD , 0.5% commission

Adv. Cash ➜ min. 1.03 USD / 102.5 RUB, 2.5% commission

QIWI ➜ min. 105 RUB, 2.5% commission in RUB

WebMoney ➜ min. 1 USD, 2.5% commission

Malaysian Bank Wire Transfer ➜ min. 5 MYR, no commission.

 

LiteForex Malaysia processes all deposit and withdrawal requests from Monday to Friday only during the following schedule:

 

Deposit ➜ 10 AM to 11 PM

Withdrawal ➜ 10 AM to 10 PM

 

Should traders submit their requests after the above schedule, they will be processed on the next working day.

 

Moreover, LiteForex also offers automatic money withdrawals, a brilliant service that makes the company different from other Forex brokers. As long as you make the withdrawal requests using the same payment system you used for the deposit (only via Skrill, Perfect Money, and Neteller), you can use a maximum of two automatic withdrawals up to 100 USD within 24 hours.

 

Please note that the amount of money you can withdraw from one payment system cannot exceed the amount you have previously deposited using the same payment method.

 

LiteForex Malaysia Spreads

 

Spreads at LiteForex are floating depending on the trading account; the minimum spreads for LiteForex Cent, LiteForex Classic, and LiteForex ECN accounts are 3, 1.8, and 0 pips respectively.

 

LiteForex Malaysia Security & Safety of Funds

 

LiteForex guarantees the safety and security of their clients’ financial transactions as well as their personal information. All transactions happening within the company are protected by the HTTPS (Hypertext Transfer Protocol Secure) data encryption protocol. This ensures the security of all data transfers, and it also prevents any interception attempts to the client’s personal data from any third party.

LiteForex is also registered in the IBC of Marshall Island (registration number: 63888) under the name of LiteForex Investments Limited. It means that the company is regulated under Marshall Islands Business Corporation Act., and therefore is bound to all the rules and requirements enforced by the regulator.

Advantages of Trading with LiteForex Malaysia

  1. Licensed and regulated by IBC of Marshall Island

  2. Three simple trading accounts for traders with different levels of proficiency

  3. 15 years of reputable background in the market

  4. Various available affiliate and investor programs

  5. High-tech ECN technology

  6. Professional personal manager for each trader

  7. Tight floating spreads as low as 0 pip for ECN trading

  8. Easy deposits and automatic withdrawal system with low to no commission

  9. Maximum leverage of 1:500 with low to no commission

  10. Customer support available 24/5 via email, live chat, social media & WhatsApp

 

 

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