IFX Brokers vs LiteForex

IFX Brokers vs. LiteForex

We devoted several hours to a comprehensive analysis of the top Forex brokers for 2023. This article compares IFX Brokers and LiteForex.

Which offers better pricing – IFX Brokers or LiteForex?

IFX Brokers provides a highly competitive spread of 0.2 pips for the EUR/USD currency pair. LiteForex offers its lowest spread at 1.6 pips.

IFX Brokers charge commission which apply on certain accounts. LiteForex charges a fairly low commission on its ECN account.

Which broker offers more security when trading Forex and CFDs?

IFX Brokers is a South African broker that is full regulated by the Financial Sector Conduct Authority (FSCA). This is the primary financial regulator in the country, allowing traders with IFX Brokers to enjoy a high level of deposit security and fully transparent trading conditions.

LiteForex is a forex and CFD broker and has been operating since 2008 and headquarters in Limassol, Cyprus. Cyprus Securities and Exchange Commission (CySEC) is the financial regulatory body that it is registered with, in accordance with Markets in Financial Instruments Directive (MiFID). All retail client’s funds are insured by the Investor Compensation Fund.

Which broker offers the superior trading platform?

IFX Brokers gives users access to MetaTrader4 and MetaTrader5, comprising the whole MetaQuotes suite. These are regarded as the most well-liked and varied trading platforms in the market, and they provide social trading, a plethora of indicators, and strong charting tools.

LiteForex also offers trading on MT4 and MT5 with all the advantages that comes with using these two globally known and preferred platforms.

Do these brokers both offer MetaTrader?

Yes, both IFX Brokers and LiteForex offers trading on the MetaTrader4 and MetaTrader5 platforms.

How many Forex pairs can I expect from these brokers?

IFX Brokers offers trading in about 60 forex pairs, where LiteForex offers trading of 55 forex pairs.

Is it safe to trade with IFX Brokers?

Yes. The main regulatory authority in South Africa is the Financial Sector Conduct Authority (FSCA). They are in charge of overseeing IFX Brokers, ensuring that traders have access to transparent markets and a fair Ombudsman in the event that they run into any problems.

Is it safe to trade with LiteForex?

Although LiteForex is not regulated by the Financial Sector Conduct Authority (FSCA) in South Africa it is regulated in the other countries it operates in, which ensures that it is safe to trade with this broker.

LiteForex is authorised and regulated in Cyprus by Cyprus Securities and Exchange Commission (CySEC) which is the financial regulatory body operating in Cyprus. Through the brokers regulatory compliance, it offers negative balance protection as well as a compensation scheme of up to €20,000 in case of traders’ insolvency.

Who is IFX Brokers?

The South African foreign exchange broker, IFX Brokers is subject to the oversight of the Financial Sector Conduct Authority. The ability of any broker firm to continue operating is significantly impacted by the various regulations and limits they must adhere to. Because businesses have legal safeguards in place, there is less of a chance that they will become victims of fraud or other financial misdeeds.

IFX Brokers give its customers access to the MetaTrader 4 and MetaTrader 5 platforms, which are considered to be two of the most widely used and well-known platforms in the foreign exchange market. This is done in order to facilitate the speedy completion of foreign currency transactions.

These systems give its users access to an extensive variety of charting capabilities, a user-friendly interface that is able to handle many chart layouts and is available in two languages, and efficient order administration software.

MetaTrader versions 4 and 5 can not only be used on personal computers, but they are also compatible with mobile devices that run the iOS and Android operating systems and do not require the installation of any additional software.

The clients of IFX Brokers have access to an incredibly wide variety of trading alternatives and financial marketplaces to trade in. Products such as spot metals, energy, commodities, contracts for difference, stock indices, foreign currency, and virtual currencies are included in this category.

In addition to providing access to sixty different currency pairings, IFX brokers provide its customers with the opportunity to trade in natural gas, oil, and precious metals such as gold, silver, platinum, and palladium.

The lowest amount of money that must be deposited into a regular account is $100, and the smallest possible trade size is one hundredth of a lot. The U.S. dollar, the euro, and the South African rand are the primary currencies that can be used with this account.

In addition, the organization provides a demo account for potential customers to test out.

Customers of IFX brokers have access to a variety of easy methods, such as Pay Quick, Visa, and MasterCard credit cards, for depositing funds into and withdrawing funds from their accounts.

The fact that there are no costs associated with either deposits or withdrawals is the best aspect. Customers who are located in South Africa normally need between two and five hours to finish the withdrawal process.

On the other hand, it is common practice for businesses serving foreign customers to require a period of four or five working days to finish the withdrawal process.

Who is LiteForex?

LiteForex is a European forex and CFD trading broker that was founded in 2008 and headquarters in Limassol, Cyprus. The entire operations of LiteForex in Europe are subject to European Union regulations. All relations between the broker and its clients are governed by the European Union and Cyprus laws.

It also has an international office in St Vincent and the Grenadines (LiteFinance) where clients from around the globe is accepted.

The broker provides both ECN and Social trading on various financial instruments such as Forex, Metals, Oil, and Global Stock Indices.

Clients have the option to choose between two live account types with STP and ECN execution. The Standard Account is focussed on all types of clients, beginners and experts, and all costs are built into the spread without any additional costs. The ECN Account has a raw spread and charges a very low commission of $0.5 per round lot.

Traders are offered floating spreads on both account with an average of 2.2 pips for the popular EUR/USD and only 1.6 pips on the ECN account. Funding any account is easy with a wide range of funding methods. The minimum deposit required is only $50.

The full suite of MetaTrader4 and MetaTrader5 is to client’s disposal and trading can commence on desktop, the web or any mobile devise. Platforms are enhanced with algorithmic rules, indicators and social trading functions as well as analytical material form Claws&Horns.

In addition, LiteForex supports many educational tools and provides learning materials such as glossaries, books, tutorials and guides. Besides the research tool available on both platforms, LiteForex also provides many research tools with comprehensive analysis to assist beginners and novice traders in their every day trading. This include market outlooks, trading ideas, economic calendar and new feeds.

In conclusion, LiteForex has been around for a number of years and offers a good mix of trading features and spreads that make it accessible to traders of all skill levels and account sizes. LiteForex’s costs are quite low in comparison to other well-known brokers, and the company’s analysis tools and technological solutions are among the best available. It provides advanced technology and the use of the top trading platforms available.