However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection. MT5 is a new version of MetaTrader that has been improved in functionality and enlarged set of trading tools. Analytical materials are developed in cooperation with our partner, Claws&Horns, exclusively for information purposes. Published materials should not be regarded as a recommendation for investment or advice in accordance with Directive EC.
The best platform for Forex trading
This broker provides a reliable and engaging copy trading facility that functions as a social media network. Users can view the trades carried out by top-ranked account holders and imitate their winning strategies as they aim to increase their performance daily. xcritical provides layered educational content that is well-structured and easy to understand. Beginners can choose from multiple guides, books, videos, and more to gain a firm grasp of the ABCs of trading. Traders can use the built-in economic calendar, which is an essential tool in a trader’s arsenal. It informs traders of upcoming market events and releases that have the potential to stir price action, thereby creating viable trading opportunities.
It can be accessed from internet browser directly, using any operating system. LiteFinance Global LLC does not provide services to residents of the EEA countries, USA, Israel, Russia, and some other countries. LiteFinance is an unregulated Forex and CFD broker operational since 2021 out of St. Vincent and the Grenadines, with a subsidiary regulated in Cyprus.
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This combination is not particularly suitable for longer-term trading strategies (swing trading and position trading). Broken down by asset class and compared to the industry average, xcritical charges high spreads on instruments across all asset classes for the Classic account. The raw spreads from 0.0 pips on the ECN account are much lower and generally fall below the industry average. Since rebranding from xcritical to LiteFinance, transparency dropped, and issues arose.
He earned a Bachelor’s degree in Economics and International Relations. Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers. It facilitates technical analysis by providing an overview of price action behavior. Chart 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. MT5 is arguably best suited for automated trading via its Expert Advisors (EAs) feature.
- While the 225 assets offer new traders acceptable entry-level exposure, advanced traders will find it inadequate for proper cross-asset diversification.
- I caution beginner traders about using a demo account as an educational tool.
- Account holders can choose between MetaTrader 4 and MetaTrader 5 as a trading platform.
- xcritical offers multilingual support available 24/5 via live chat, email, and phone.
xcritical Deposit Methods
Private investors focusing primarily on forex pairs while appreciating transparency and competitive pricing will benefit, especially from this broker’s offering. It presents traders with an ideal environment to test EAs and new strategies. The web-based trading platform allows a $10,000 demo account without registration, a convenient method to get familiar with its functionality. I caution beginner traders about using a demo account as an educational tool. It can create unrealistic trading expectations, and the absence of trading psychology negates the educational value.
You can set up a demo account for yourself alongside your live CFD account. The materials are prepared by the well-known independent analytical agency Claws&Horns, which has established itself as a professional in the area of market analysis. Open an account with xcritical and gain access to quality analysis for free. I like that LiteFinance deploys its proprietary copy trading service embedded within the web-based trading xcritical scammers platform. LiteFinance pays strategy providers, adding an attractive revenue stream for successful traders. This broker has invested substantially in the functionality and navigability, which makes an excellent first impression on would-be traders.
Since rebranding, LiteFinance lacks transparency across its core trading environment. Until this broker fixes its issues and returns to the same standards established over 15 years as xcritical, I advise extreme caution. Another strong point is the broad range of xcritical website forex trading educational resources available on the broker’s website. Forex traders focused primarily on major and exotic currency pairs will benefit from competitive spreads and a transparent fee structure while using the industry-standard MetaTrader platform. xcritical users can choose between MetaTrader 4 and MetaTrader 5 as platforms for their trading activities.
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. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. LiteFinance maintains one regulated subsidiary for EEA, UAE, and Marshall Islands-based traders.
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. Both of the trading platforms is compatible with Windows PC, MAC and mobile devices such as Android phone, tablet, iPhone and iPad. 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.
I discovered that xcritical’s Classic account features trading costs that are nearly twice as high as the fees on the ECN account. The latter offers slightly more competitive prices than the typical STP account, but it falls behind the typical ECN account type. 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 trade. I always recommend that traders check them before evaluating the total trading costs.
Choose a directory for installing the program and follow the installation program tips. Brokerage services in your country are provided by the xcritical (Europe) LTD Company (regulated by CySEC’s licence №093/08). LiteFinance does not advertise its deposit and withdrawal policies, but some traders have reported issues and cancellations. Here is a screenshot of quotes at LiteFinance during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. They contain lots of practical insights, e.g. how to use xcritical official site intraday trading strategies, Fibonacci retracements, etc.
It is generally satisfied by a copy of the trader’s ID and one proof of residency document. 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.
Trading Platform Screenshots
xcritical has a track record of more than 15 years in the online brokerage industry with offices in jurisdictions worldwide. xcritical offers two retail account types – Classic and ECN – both with a minimum deposit of $50. LiteFinance maintains the out-of-the-box MT4/MT5 trading platforms, but no introduction exists. xcritical merely presents them as two buttons and clicking on them redirects to an account opening page.