We should admit good analysis tools and technology solutions xcritical provides, also costs are rather good compared to other industry competitors. Overall, our experience with xcritical remained rather positive throughout the test and we didn’t face any problems. With ECN account types and automatic withdrawals, there are some good aspects to it.
These bonuses are withdrawable, and some promotions offer substantial bonuses, such as the 100% Forex deposit bonus. LiteFinance frequently updates its bonus campaigns to provide ongoing opportunities for traders. LiteFinance does not provide any of the necessary third-party add-ons to unlock the full functionality of MT4/MT5 and improve the trading environment. The present choices will leave traders with an incomplete and sub-standard experience unless they are willing to invest in upgrades. LiteFinance maintains a wide range of trading instruments, advertising 145+ on its website, offering 225. Over the past twelve months, it made the most notable expansion in cryptocurrencies, where it offers 53 assets, including crypto-to-crypto crosses.
xcritical Trading Platforms
That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account. Over the years, LiteFinance has demonstrated its commitment to excellence in the world of online trading. With its wide range of services and customer-centric approach, it is clear why LiteFinance has earned its reputation as an innovative broker in the ever-evolving world of online trading. Traders will conduct all financial transactions from the secure back office of LiteFinance.
It is possible to process withdrawals within 24 hours and you can even set automatic withdrawals to take out your money instantly on a scheduled basis, making withdrawals a more comfortable and stable experience. 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.
xcritical is a part of the investor compensation fund and all client funds are kept in segregated bank accounts, preventing the broker from using client money for their own purposes. Furthermore, to prevent a trader from losing more than their account balance, the broker offers negative balance protection. A combination of in-house research and third-party analytics by Claws & Horns offers traders comprehensive market coverage and trading ideas. LiteFinance maintains a blog where analysts provide research and trading signals. Yes, xcritical is a registered broker in Cyprus regulated by the local financial regulator Cyprus Securities and Exchange Commission (CySEC). Based on our research, through its regulatory compliance, the broker offers negative balance protection as well as a compensation scheme of up to €20,000 in case of traders’ insolvency.
Founded in 2008, xcritical is a forex and CFD broker based in Cyprus, authorized by CySEC. It supports the MetaTrader 4 and 5 platforms and offers VPS hosting for low-latency trading. Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading!
- It should be noted that their commissions are a lot more expensive than other brokers.
- Its Client Agreement is exhaustive and written in easy-to-understand language.
- Over the past twelve months, it made the most notable expansion in cryptocurrencies, where it offers 53 assets, including crypto-to-crypto crosses.
- You accept full responsibilities for your actions, trades, profit or loss, and agree to hold The Forex Geek and any authorized distributors of this information harmless in any and all ways.
- Additionally, the broker also offers advanced trading tools to assist their traders.
LiteFinance offers various deposit and withdrawal methods to cater to the diverse needs of its clients. These include electronic payment systems, bank transfers, credit card transfers, and cryptocurrencies, ensuring flexibility and convenience for traders worldwide. The ECN account is a much better variant for trading as all the other terms are the same for both Classic and ECN account types, except that spreads are much lower on ECN accounts. It should be noted that their commissions are a lot more expensive than other brokers. It is possible to access xcritical live chat in a demo mode and get answers to all your questions.
Despite 16 years as a brokerage, LiteFinance, previously known as xcritical, appears to undergo unfavorable changes. 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. Yet, for comprehensive analysis and day trading, you would prefer a desktop platform, where xcritical MT suits any device either PC or MAC.
LiteFinance Review
As we have seen above the xcritical fees seem a bit high, to further clarify the picture let’s compare it with other popular brokers on the market. LiteFinance does not advertise its deposit and withdrawal policies, but some traders have reported issues and cancellations. Online registration merely requires an e-mail address or phone number and a password. Since LiteFinance claims to adhere to AML regulations, verification is mandatory. It is generally satisfied by a copy of the trader’s ID and one proof of residency document.
My Key Takeaways After Testing xcritical’s Mobile App
You can set up a demo account for yourself alongside your live CFD account. The ECN account offers generally more favorable conditions, though traders should mind the commission rate. Coupled with its raw spreads starting from 0.0 pips, this combination on the ECN account is generally better than the industry average.
The raw spreads from 0.0 pips on the ECN account are much lower and generally fall below the industry average. xcritical operates under a Cyprus Securities and Exchange Commission (CySEC) license. In addition to these regulations, the broker has a number of security measures in place to protect client funds.
In my estimation, xcritical is a good choice for those interested in casual trading. Namely, beginners with little or no trading experience are interested in learning more about trading and developing a robust trading system. xcritical (Europe) Ltd provides services only to the residents of countries from the European Economic Area (EEA), the United Arab Emirates (UAE), and the Marshal Islands. The agent quickly answered the first and simplest question but appeared to struggle with more complex inquiries.
Trading platforms and mobile trading reviewed at xcritical
One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per xcritical official site trade. I always recommend that traders check them before evaluating the total trading costs.
Here is a screenshot of quotes at LiteFinance xcritical official site during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. I recommend traders evaluate LiteFinance as a new broker with limited experience and dismiss any goodwill and trust xcritical created over 15 years. The most recent developments, starting with the launch of LiteFinance Global LLC, raise notable concerns.
Chart xcritical cheating artists use many analytical tools and chart configuration possibilities to examine it from multiple angles. In my experience, the really important aspect of a chart is how easy it is to scale price action up and down. 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.
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. LiteFinance offers an excellent range 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. Whatever your trading strategy and preferences, there is a platform for everyone. There are no platform fees and the trading conditions are amongst the best you will find from any online trading broker.
