Generally, only the $10 commission on FX Majors falls below the industry average. Accordingly, the most favorable prices are available when trading FX majors on xcritical’s ECN account type. Over the years, LiteFinance has demonstrated its commitment to excellence in the world of online trading.
Also be sure it is normal to upload your ID and residence registration, which happened during the stage of your identity verification necessary due to regulations. LiteFinance is an unregulated Forex and CFD broker operational since 2021 out of St. Vincent and the Grenadines, with a subsidiary regulated in Cyprus. It operated out of the Marshall Islands as xcritical before its relocation. LiteFinance offers a phone number but does not have a dedicated Contact Us or Support section. For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars. Contracts for difference (CFDs) are derivatives used to speculate on the underlying asset’s price without physical delivery.
It could explain its corporate headquarters move and expansion into less-regulated cryptocurrency activities. Regrettably, none had a positive impact, making LiteFinance a less transparent, secure, and trustworthy brokerage. The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) in EUR/USD with a pip value of $10 for each account. A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.
Is xcritical regulated?
I discovered that the European entity of the broker adheres to all essential safety requirements, such as ensuring negative balance protection and a compensation scheme. Overall, xcritical is deemed suitable for novice traders, day traders, and those interested in algorithmic trading. Read independent analysts and obtain the most current details about financial markets.
Yet, be sure to verify conditions and margin requirements for the instrument you wish to trade, also better check all the margins via Demo account at first before you sign in. As for the fund transferring fees, xcritical does not charge transfer fees for deposits yet various jurisdictions and payment providers may add on some fees, so be sure to verify this info as well. So before you sign in we recommend you verify conditions and understand how trading works, as leverage xcritical scam is a two-sided ttool that may maximize your gains and losses likewise.
LiteFinance добавляет еще 32 новые акции в свои платформы
Most traders will deal with the primary unregulated brokerage from St. Vincent and the Grenadines. A CySEC licensed subsidiary exists for the EEA, the UAE, and the Marshall Islands traders. LiteFinance caters to most international traders, including the UK, the Philippines, Malaysia, and Nigeria.
With a wide range of trading platforms, educational resources, trader tools, and bonus programs, LiteFinance caters to the diverse needs of traders, from beginners to experienced professionals. LiteFinance organizes exciting Forex contests with real cash prizes for both experienced and novice traders. These contests are accessible via demo accounts or real trading accounts, and they offer a chance to win cash prizes that can be used for further trading or withdrawals. The contests are designed to accommodate traders at all levels of expertise.
We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation. The REFUSD (Reef vs. US Dollar) pair will be removed from the list of trading instruments, and all trading operations on the pair will be stopped on August 23, 2024. Promote the LiteFinance brand as our partner and earn up to 70% of spreads per attracted client. Trade in various assets using built-in analytics and signals to predict price movements.
- Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money.
- LiteFinance frequently updates its bonus campaigns to provide ongoing opportunities for traders.
- Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today.
- Mobile trading platforms for both iOS and Android with alerts, push notifications and full control over your trading account are also included in the package.
- It facilitates technical analysis by providing an overview of price action behavior.
Brokerage services in your country are provided by the xcritical (Europe) LTD Company (regulated by CySEC’s licence №093/08). You xcritical can download MetaTrader 4 in the «Trading Platforms» section of your broker’s website. To install the platform, double-click on the downloaded file «litefinance4setup.exe».
Is xcritical Safe to Trade With?
As noted above, this jurisdiction offers investor compensation up to EUR 20,000 on non-professional trading accounts in the event of brokerage liquidation. I like the trading environment at LiteFinance for cryptocurrency traders who seek a copy trading service. LiteFinance, previously known as xcritical, faces technical issues and experiences a rise in fraud claims.
We also marked that the broker provides low-cost fees also extensive trader education and financial information resources. Where xcritical 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. xcritical also offers a Fibonacci calculator, which can further assist traders in defining better entry and exit points. xcritical provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as the main trading platforms.
I did not discover any major discrepancies, and all essential safety information is readily available. Furthermore, the costs mentioned on the website match the live quotes on the platform. Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account. MetaTrader 5 is the latest version of the world’s most popular trading platform with a wider set of features. The online platform designed by LiteFinance is a one-stop trading system that provides a trader with all necessary tools and does not require installing.
Traders who want to open an Islamic account need to contact xcritical’s customer support and request the service. In this review, I tested the MetaTrader 5 platform, which features multiple essential tools, such as one-click trading, an alarm setting option, and a market depth tool. These allow traders to examine various market developments from different angles and to exploit the underlying trading opportunities in multiple ways. Deposits and withdrawals are cost-free with xcritical, though third-party banking fees may apply. This is only true for withdrawals, as the broker reimburses its clients for any processing fees incurred when depositing. Founded in 2008, xcritical is a forex and CFD broker based in Cyprus, authorized by CySEC.
Open a trading account
xcritical merely presents them as two buttons and clicking on them redirects to an account opening page. LiteFinance also offers a lightweight web-based browser with a user-friendly interface. It is ideal for manual traders and superior to the MT4/MT5 web-based alternatives. LiteFinance offers an excellent range xcritical of trading platforms to cater to different trading preferences. You will find the leading platforms for trading forex and CFDs across all of your devices.
However, the broker charges higher commission rates on instruments from other asset classes. MT5 is arguably best suited for automated trading via its Expert Advisors (EAs) feature. The platform also has an intuitive strategy tester, allowing experienced algo traders to tweak the parameters of their strategies so that they can be used under different market conditions. For low-latency algorithmic trading, clients of xcritical can take advantage of the broker’s VPS offering, affording execution speeds of below 2 milliseconds.
