LiteForex Vs. FP Markets Broker - Highlighted Pros & Cons

LiteForex Vs. FP Markets Broker

013, Aug 2020

First of all welcome guys...!

I really hope that you are doing well by the grace of the almighty in this devastating situation around us. The Covid-19 has brought a tragedy in our lives. Therefore, please take care of yourself and stay indoor, stay safe. We'll DEFINITELY overcome it.

Moving on to the main event now, by reading the title then I hope you've understood my today's SIGNIFICANT topic which will shed a light on the comparison of two very famous and regulated Forex brokerage companies of modern times. If you take it from me then simply I would say that both are creating HUGE attention in 2020. 

So, one of them is LiteForex and the other one is FP Markets.

At present, due to the evolution of technology, we can do almost anything sitting in our houses including online trading. Technology has changed our lives for the best. It's really a blessing for us obviously if you make sure the proper use of it.

Those days are long gone when we used to do it the old fashioned way. Forex trading has asphalted a roadmap for the online trading industry and brought a new era to online trading.

Specifically, I’m gonna highlight - 

  • Account Types 
  • Trading Platforms
  • Markets
  • Deposit & Withdrawal Options
  • Advantages
  • Drawbacks

These aspects of both the Forex brokers. Therefore, Let’s rock and roll.

LiteForex Broker

LiteForex brokerage company is authenticated in the Marshall Islands and regulated in exactly with Marshall Islands Business Corporation Act.

Liteforex (Europe) Ltd is registered as a Cyprus Investment Firm, authorized and regulated by Cyprus Securities and Exchange Commission (CySEC) and acts in accordance with the Markets in Financial Instruments Directive (MiFID).

Liteforex is a member of the Investor Compensation Fund, which absolutely guarantees that all the clients' funds are sound and secured (up to 20,000 EUR). The brokerage company is registered in accordance with the requirements of the following countries' regulatory bodies.

LiteForex Account Types

Classic Trading Account - Real trading accounts are only available for very experienced traders. A CLASSIC Forex account with a variable spread has been designed for traders who have extensive experience in the trade and formed views on the market.

It is ideal for those who adhere to a proven strategy in their trading using five-digit quotes and leverage up to 1:500, giving access to large volume transactions. 

ECN Trading Account - Forex ECN trading account is for professional experienced traders as well as investors and traders who wish to use the Social Trading service. These sort of accounts offer the richly yearly percent expense on unused funds, and access to DEEP liquidity with low afloat spreads.

The trading account is fabricated on the foundation of modern ECN tech that provides admittance to the best prices on the market, stable and guaranteed fast execution with no re-quotes, and no conflict of interest.

LiteForex Trading Platforms

The LiteForex Group provides its clients with MetaTrader 4, the most stable and called-for trading platform popular with traders from all over the world, as well as with an updated version of the trading platform MetaTrader5.

Besides MT desktop versions, LiteForex's clients can use WebTerminal to be able to trade right from the browser on any computer wherever in the world without having to install a desktop version. The one and only condition for using WebTerminal have access to the internet.

Also, the company clients are offered freely downloadable applications intended for trading via mobile devices and tablets (Android, iOS, and other OS).

Deposit & Withdrawal Options

Payment methods: VISA, MasterCard, Bank Wire, Skrill, Neteller, Perfect Money, OkPay, QIWI, Skrill ONE-TAP, Yandex Money, W1, Bitcoin, Litecoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Monero.

LiteForex brokerage company does not charge any fees when the clients top up their accounts or make withdrawals. Rather they are always very focused on the needs of clients. LiteForex has decided to return commissions paid by the clients through a payment method when making a deposit into their trading accounts.

With the help of this initiative, deposit fees will be automatically paid back to your trading account.

LiteForex Markets

LiteForex offers its clients a set of trading instruments under advantageous conditions of margin trading, including:

  • Big list of major and exotic currency pairs and cross-rates;
  • Precious metals: gold and silver;
  • Wide choice of CFDs on shares – blue chips – listed on the world's biggest stock exchanges (NYSE, NASDAQ);
  • Leading American, European, Australian and Asian stock indexes;
  • Cryptocurrency;
  • Brent and Crude oil.
  • Currency – 56 pairs, Metals, Oil, indices, CFD NYSE, CFD NASDAQ, Cryptocurrencies

LiteForex Advantages

  • At present, there is a 50% account deposit bonus being given out in order to rejoice Lite forex’s 9 years in the forex brokerage business.
  • A promo code (HappyBirthday200) can be used to get a bonus of $200 during the promo period. This is another promo to honor the 9th anniversary of Lite forex in the Forex industry.
  • Deposits above $100 which are made within a 24-hour window of opening a new account get an automatic 30% account deposit bonus.
  • Rebate programs are available. These payback fees incurred on transactions, or refund 1.5 points of spread depending on terms and conditions.
  • Liteforex is now also featuring several trading contests for traders on demo and real money accounts. 
  • Instagram Contest: $20 is paid to traders who are able to make a complete photo of themselves trading on the Liteforex platform.
  • The demo trading contests feature 2 games: the Fighting contest and the Top 10 Forex contest.
  • The live trading contests feature the Traders’ Marathon III, Great Hundred 4, and the Weekly Sprint.      

LiteForex Disadvantages

  • Limited trading instruments
  • Not the cheapest commission fees
  • No services to the USA, Japan, and Israel clients.
  • Free VPS is not available.

FAQ

  • When will my trader's account be displayed in the ranking?

ANS. As soon as you've made it accessible for copy trading. Your account will go up or down as you trade based on the profitability of your trading.

  • Are there any limits in terms of acceptable advisors and indicators?

ANS. There are no restrictions, trading on a trader's account is no different from trading on a standard trading account.

  • May I have myself attached to my own Trader's account?

ANS. No, you may not. Trader's account shall belong to another person. You cannot copy your own trades.

FP Markets Markets Broker

FP Markets was formed in Sydney, Australia in 2005, and through its 14 years of experience, FP Markets company has succeeded to be one of the Market leaders in providing CFD and Forex. Their vision was to create a one-stop destination where traders could access a full suite of trading products in global markets. 

The advantage of being able to trade CFDs across equities, Forex, indices, commodities, futures, and cryptocurrencies from one account is one of the major factors that makes FP Markets one of the most loyal and regulated brokers among other brokers of the Foreign exchange market. ​

FP Markets Account types

  • General Account
  • Standard Account
  • ECN RAW Account

Iress Account:

  • Professional Account
  • Platinum Account
  • Premier Account 

Share Accounts:

  • Standard Account
  • NON-Leverage CFD
  • Islamic Account

FP Markets All Trading Platforms

MT4

FP Markets is currently offering the world’s most popular trading platform MT4.

Features: 

  • Streaming Live Prices on Live and Demo platforms
  • Market Watch and Multiple Chart Windows
  • Numerous Order types
  • Expert Advisor and Indicator tools for trading
  • One-Click Trading
  • Multiple add-on platforms to access your trading anywhere, anytime
  • Client Terminal security communicates over a 128bit Secure Encryption
  • Alerting features
  • Fully customizable desktop, including background, font and chart colors
  • Multiple Language options that are changeable at a click of a button.


MT5

One of the most technologically advanced trading platforms.

MT5 features:

  • Trade via your PC
  • One-Click Trading
  • Display Currency Market Depth
  • 6 pending orders types including Buy Stop Limit and Sell Stop Limit
  • 80+ inbuilt indicators & graphical objects
  • 21 timeframes
  • Inbuilt Economic Calendar
  • Improved strategy tester for EAs F
  • Hedging allowed

IRESS

FP Markets offers the IRESS platform, which provides multi-product execution and access to level 2 exchange data as standard.

IRESS platform features:

  • HTML 5 technology supported on all major web browsers
  • Compatible for Windows or MAC
  • Real-time, dynamic market data
  • High performing tools
  • Advanced charting
  • Module linking
  • Highly customizable interface
  • Intuitive and easy to use

WebTrader 

The all-powerful Metatrader 4 (MT4) & Metatrader 5 (MT5) Platform easily accessible from your browser.

  • Trade directly from your PC without having to download any software with the FP Markets MT4 & MT5 Web Trader featuring:
  • Trade via your Web browser (No Download Required)
  • One-Click Trading
  • Display Currency Market Depth
  • 6 pending orders types including Buy Stop Limit and Sell Stop Limit
  • 60+ inbuilt indicators & graphical objects
  • 9 timeframes
  • Hedging allowed


Markets

  • Equity CFDs
  • Index CFDs
  • Commodity CFDs
  • Futures CFDs
  • Currency Pairs
  • Metals & Commodities
  • Indices
  • Shares
  • Cryptocurrency CFDs


Trading Tools

  • MAM/PAMM Features Include:
  • Infinite trade allocation schemes are available including, Equity, Lot and % Percentage.
  • The tools can be used in all sorts of accounts.
  • SUPER-fast allocation of trades from the MAM alpha to the MAM Sub accounts.
  • It has the ability to alter trading parameters during real-time.
  • There are no limitations in deposit levels and trading accounts.
  • All order types including limit, stop and market are all accepted.
  • You can also monitor performance and commissions during real-time trading.
  • Live order monitoring management is also available within the MAM structure.
  • It offers Electronic Communications Network (ECN) pricing with deep liquidity and tight spreads that allows money managers to enjoy huge amounts at the prices they ask for. Both the MAM and PAMMs can, therefore, provide managers the tighter control they need in order to maximize returns.


Deposit Options

  • Credit Card, 
  • Neteller, 
  • Skrill,
  • FASAPAY, 
  • Poli Pay, 
  • Online Pay, 
  • Bank Wire Transfer, 
  • Ngan Luong, 
  • Broker to Broker, 
  • Bpay, 
  • PayPal

Pros

  • Low Forex fees
  • Easy and fast account opening
  • Quick deposit and withdrawal

Cons

  • High stock CFD fees
  • Limited product portfolio
  • Outdated web and desktop platform

FAQ

  • Can I open a demo account first?

 Ans. Yes, of course.

  • Can I register with more than one email address?

 Ans. It is possible, however, to avoid confusion we advise having all your trading accounts under the same Client Area profile, using the same email address.

  • How can I connect my trading account to an affiliate/IB?

 Ans. Please send an email to [email protected] from your registered email address, and ensure that you include the IB's referral number in your email.

  • What happens if I do not use my trading account, are there any fees for this?

 Ans. They will disable your account if there is zero balance and no activity for more than three months.

 Unlike other brokers, they will not charge an admin fee for this, and we are able to reactivate it anytime you wish to resume your trading. 

 If you wish to reactivate, please send your request from your registered email address to [email protected]

  • Which documents are needed in order to open an account?

 Ans. They always require proof of identity and proof of residency documents from you. Proof of identity can be a valid passport, driving license or national ID card.

 As a proof of residence, they accept a utility bill or bank statement showing your full name and address, and that is dated within the last six months.

  • Do FP Markets accept a PO Box address?

 Ans. For some particular countries, they might accept one of the following documents as proof of residence document: 

  1. Confirmation of residential address from their local municipality. 
  2. An additional ID document + the PO Box POR document.
  3. An employment or rental agreement which includes the residential address. 
  4. A police record or a local tax form.