Product Review
LiteForex: A stable and client-orientated group of companies
e-Forex talks to Alexey Smirnov, President of LiteForex group of companies, the FX brokerage division of the Straighthold Investment Group, which operates in a variety of international financial markets.
- Katerina, LiteForex commenced operations in 2005 and your FX brokerage division was a pioneer in offering accounts that permitted very small transaction sizes. Why has your technology proved so popular with traders?
Indeed we were the first to offer our clients such service as to open a cent account. It was LiteForex’s innovation and later many dealing centers have supported our initiative. We think the main reason why this kind of service became so popular is that it lifted the restrictions on entering the market. We made Forex accessible.
- LiteForex has now opened representative offices all over the world. What type of customers are now using your trading services?
Today more than 240,000 traders continue to be LiteForex’s clients and hundreds of new ones throughout the world choose our company every day. Among our clients you can find people of all ages and professions. We are particularly proud of the clients who have been working with us since the day LiteForex was founded. They started trading on Forex market from opening cent accounts and now they already operate with sizable assets.
- What FX accounts do you offer and what instruments can be traded with LiteForex?
LiteForex gives thousands of people an opportunity to join a many-millioned traders community and try their forces on Forex market. We understand our company has to create trading conditions that would be absolutely comfortable both for newbies that have just made their first steps towards understanding the finest points of the market and for professional traders who are in charge of managing significant capital.
That is why to make working on the financial market more comfortable for our clients we have created two types of account: LITEForex and REALForex.
LITEForex is a cent type of account that provides beginners with the opportunity to feel confident while dealing with the real money. By opening an account with the minimum deposit required a person that is new to Forex can easily obtain a priceless experience of financial market trading.
REALForex is an account that is usually chosen by traders who want to operate with large amounts.
Equal conditions for using leverage, no hidden commissions and a fixed spread starting from 2 points are provided for trading on both account types. These principles reflect LiteForex’s psychological orientation on every client.
We believe traders have to use all the possibilities that the financial market opens for them. That is why LiteForex offers 83 trading instruments including a wide range of currency pairs, precious metals, currency indices and CFD.
- What promotions do you provide and which ones are proving particularly popular with clients?
Carrying out different bonus programs and promotions has become a good tradition for LiteForex. Giving presents is natural for every successful company. Our promotions are distinguished by conditions and target groups. Bonus from LiteForex, that is added every time one deposits an account, is particularly popular with LiteForex clients.
- What customer support services does LiteForex provide?
It’s important for a trader to find a partner on the financial market. The aim of LiteForex is to become a partner for every client and to execute clients’ orders on the market as fast as possible. To ensure a high quality and superfast connection with a trader’s platform LiteForex provides three special servers dedicated to trading on Demo, LITEForex and REALForex accounts.
We are interested in providing our clients with the best service. LiteForex’s specialists give competent help and render technical assistance to clients upon any issue that arise 24 hours a day.
- Why did LiteForex decide to use the SIG Trader 4 platform from MetaQuotes Software?
We have chosen the most popular trading platform, Metatrader 4, its efficiency and quality have been proved by hundreds of broker companies. From a technical point of view Metatrader 4 is one of the most powerful and reliable trading platforms offering an easy-to-use interface and a large set of functions.
Don’t forget about the fact that Metatrader 4 supports Demo account trading.
Now LiteForex wants to introduce to its clients a new product from MetaQuotes Software, Metatrader 5 trading platform which is available for introductory trading in a demo mode. Soon Metatrader 5 will be launched for real account trading. Compared to the previous version it has several advantages: you can trade on several financial markers using one client’s account, it supports several currencies. In MT5 you can test advisers on various currency pairs at once.
- Does your client terminal offer support for investors seeking more flexibility by undertaking automated or mobile FX trading?
Yes, it does. Metatrader 4 provides a possibility of automated trading. Our clients can use expert advisers integrated into a trading platform or develop their owns with the help of MetaQuotes Language 4 (MQL4) if they wish so.
LiteForex also provides its clients with a possibility of on-line trading and of managing trading operations through portable devices (PDA, cellular and smartphone).
Distributives of trading platforms are available on www.LiteForex.org official web site. Our clients are granted free of charge licences for these products.
- What steps have you recently been taking to improve back-office operations for example in assisting clients to deposit and withdraw funds into their accounts?
LiteForex has recently expended a list of payment systems that can be used to deposit or withdraw money to/from an account. As these processes are automated you can instantly deposit your account 24 hours a day.
- Your affiliate programs are highly regarded. What advantages do they offer to institutions looking to form partnerships with LiteForex?
LiteForex trading mark is widely presented in a number of countries where it offers partnership programs to people who are ready to dedicate their time to bringing clients from their region. Collaborating with LiteForex partners can gain part of a spread. We offer several programs: Bring a friend, Internet-partner and White Label. These options are optimal depending on the interest of the partner. Advantages of partnership programs were highly appreciated by the participants and experts of “2010 Forex Awards” international contest that had been held by an authoritative edition - World Finance. According to results of the contest LiteForex has won “Best Affiliate Program 2010” nomination.
- LiteForex was recently nominated as the most stable broker in Asia. Looking ahead, how will you be seeking to maintain that high standard and at the same time grow your market share to attract new clients?
The jubilee year 2010 had brought LiteForex an official world recognition and a medal of “The most Stable broker in Asia 2010”.
Lofty aims LiteForex had in the beginning of its activity have been successfully achieved. And there are a lot of new projects and ideas that we realize one by one. We are moving ahead and have no time to stop. A number of LiteForex’s clients is growing at exponential rates.
An image of a stable broker company, five-year work experience, a reliable team of experts, a constant desire to develop services - these are the main reasons why millions of traders all over the world choose LiteForex. And we continue with the style we carry on our business offering our clients high quality services on the financial market.