LiteForex is a really reliable brokerage service for forex trading that is based in Seychelles. It comes with many account types and different trading support features that are popular.
There are two types of live money trading accounts offered by LiteForex. The first one is LITEForex and it is basically a demo trading account. Users can opt for this one in order to see exactly how forex trading is done. The demo account can also allow you to trade for real money but at a really low minimum deposit required of just $1. You will not make much money due to the limitations offered but the feeling of trading with real money is something that should be experienced before going for bigger amounts. Once you are prepared for the real thing you can go for the REALForex account, which is perfect for more money trading. The leverage offered is fixed at a maximum of 1 to 200 while the LITEForex account has it at 1 to 500.
When you open an account with LiteForex all you need to do is fill a form. Once you will submit it you will also need to send a trading account number and all the deposit details through email. Basic informations you can read in Liteforex Review.
Through LiteForex you can deposit money with the use of many payment systems like Moneybookers, Webmoney, Liberty Reserve and Alertpay. There is no limit on a maximum deposit although the governing authority recommends that one trader should not put in more than 3000 dollars. In order to protect deposits the withdrawal procedures are strict and well controlled. You can only withdraw via the procedure that you used to fund your account and it will take some time so that verifications can be performed.
LiteForex worked on MetaTrader 4 and created a proprietary version that is called SIGTrader 4. Due to the fact that we are in front of a proprietary version of a very popular trading platform you can expect to see many included features and an interface that is really easy to use. You will find a lot of tools that can be used to execute orders, technical indicators, multiple language support and even live trading news. Users can even download a smartphone platform or a mobile trading terminal.
When talking about customer support LiteForex definitely excels. There are toll free numbers available in US, Russia, Indonesia and Malaysia. Also, you can use email support, live chat and contact forms if needed. The only problem is that you will only get support in English but that is not a problem that we cannot go around.