LiteForex Information

LiteForex is a Cyprus-registered company that provides online trading services for forex, commodities, and global stock indices markets. It is regulated by the Cyprus Securities and Exchange Commission (CYSEC) and offers two types of live accounts: ECN and Classic. LiteForex also provides demo accounts and rich educational resources for beginners. The company allows clients to deposit and withdraw funds via popular electronic transfers, bank cards, and bank wire transfers with a minimum amount of 1 USD and no extra fees.

Pros & Cons

Is LiteForex Legit?

Yes. LiteForex is regulated by Cyprus Securities and Exchange Commission (CySEC).

Besides, the broker says that it is a member of the Investor Compensation Fund, which enables them to guarantee that all of their client funds are insured (up to 20,000 EUR).

Market Instruments

Account Type

LiteForex offers a demo account for beginners to practice trading without risking real money.

For live accounts, the company provides two options: ECN and Classic.

Leverage

LiteForex offers a maximum leverage of 1:30, which is a commonly seen level in the forex industry. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spread & Commission

Trading Platform

LiteForex offers both MT4 and MT5 trading platforms, which are widely recognized and trusted by traders in the industry. You can download Apps for Android and iOS.

Deposit & Withdrawal

Olymptrade Information

Olymptrade is an online trader registered and established in Vanutu in 2014. It supports traders in trading forex and stocks through its own trading platform. In addition, it also supports a minimum spread of 0 and 0 commission. But currently, it is in an unregulated state.

Pros and Cons

Is Olymptrade Legit?

Olymptrade was registered in 2014, but it is currently unregulated.

What Can I Trade on Olymptrade?

Olymptrade supports you in trading forex, with over 100 assets including currency pairs,majors, minors, exotics,crypto and more. In addition, you can also trade stocks.

Account Types

Olymptrade did not provide specific account information. What can be known is that the minimum deposit amount is 10 US dollars or euros. It also supports the opening of demo accounts and Islamic accounts.

Olymprade Fees

Foreign exchange trading supports 0 spread, with commissions starting from 0.6 pips. And there is no commission for opening a stock position for trading.

If no transactions are made in a real account and/or funds are not deposited or withdrawn within 180 days, a monthly idle fee of $10 (or the equivalent account currency) will be charged.

If the account balance is lower than the idle fee, only the available balance will be charged. Accounts with a balance of zero will not be charged any fees.

Trading Platform

Olymprade offers its own trading platform, which can be used on both desktop and mobile devices. In addition, there is a web-based trading platform called PWA.

Deposit and Withdrawal

Deposits can be made using bank cards, cryptocurrencies or electronic payment systems. To withdraw money, you need to press the payment button through your account, select withdrawal, specify the withdrawal amount and confirm the transaction. The minimum withdrawal amount is 10 US dollars or euros.