LiteFinance, How to open LiteForex MT4/MT5 account and Start trading Forex online
Forex MT4 and MT5 account opening manual with 19 FAQs.
Your first steps to opening MT4/MT5 accounts start from here!
- How to open LiteForex account and trade Forex?
- Are my funds safe with LiteForex?
- Are you a beginner or an experienced trader?
- Merits of trading FX with LiteForex
- Frequently Asked Questions by traders about Account Opening
- What is Client’s Profile (personal profile of a Client)?
- What is a nickname?
- What is a demo mode?
- How to switch between demo trading and real trading?
- How many profiles can a Client have?
- How to confirm your e-mail?
- How to verify your telephone number?
- How to update information about your telephone number?
- How to update your residential address?
- How to verify Client’s Profile?
- Why is my profile only 60% complete?
- How do I make an account my main account?
- How do I start copying?
- How to change password to access Client’s Profile?
- How to change trader’s password to access your trading account?
- How to change credit leverage?
- How to delete the account?
- How to register in affiliate programs?
- How to restore account from the archive?
How to open LiteForex account and trade Forex?
To get started, you first need to create your own “Client Profile”.
In order to create Client’s Profile, click on the link.
Please fill in all the fields, paying attention to the tips that will pop-up below and then click on “Register”.
To log in to the Profile, please enter your e-mail address and password on the login page.
1. Opening a trading account
An ECN trading account is automatically created in the Client Profile after registration.
If you want to open another type of account or you need one more account, click “Open account” in the “Metatrader” section, select your platform, account type, currency, and leverage.
Learn more about the types of trading account here.
2. Verifying your profile
To verify your profile, you must submit the following 2 types of documents to LiteForex.
- Identification Document
- Residential Address Proof
The documents confirming identity shall be issued by a legal government agency and shall contain a photo of the Client.
It can be the first page of internal or international passport or a driving license.
The document shall be valid for at least 6 months from the date of completing the application.
Each document shall specify validity dates.
The document confirming your residential address can be the page of your passport indicating residential address (in case the first page of your passport was used to confirm identity, both pages shall have serial number).
A residential address can be confirmed with utility bill containing the full name and actual address. The bill shall be not older than three months.
As the proof of address the Company also accepts bills from internationally recognized organizations, affidavits or bank statements (mobile phone bills are not accepted).
3. Now you can deposit and start trading
To start trading, you need to log in to your Client Profile and enable the real trading mode (you can switch between the modes).
Next, you need to top up your main account in the “Finance”section.
Go to LiteForex Official Website
Then, move to the Trading section in the left menu and select the trading instruments you prefer (Currencies, Cryptocurrencies, Metals, Oil, Shares, Indexes).
Next, click on a particular trading instrument and its price chat will be downloaded on the page.
On the right side of the chart, you’ll see the menu for opening trades to buy or to sell.
Once opened, a trade will be shown in the lower panel called “Portfolio”.
All your opened trades can be found and modified through the Portfolio section.
Visit LiteForex Official Website
Are my funds safe with LiteForex?
When you trade with LiteForex, you can be sure that your money is safe.
LiteForex has established a number of security measures including:
- Segregate funds
All client funds deposited with LiteForex are fully segregated from the company’s funds and are kept in separate bank accounts. This ensures that those funds belonging to clients cannot be used for any other purposes.
- Accounts held at strong global banks
LiteForex partners with tier-1 banks that enjoy some of the highest ratings, ensuring that funds deposited carry the lowest credit risk available in the market.
- Member of the Investors Compensation Fund
LiteForex is a member of the Investors Compensation Fund (ICF), which provides retail clients with additional protection. Your eligibility depends on the status and the nature of the claim. Further information can be found in LiteForex’s terms and conditions.
- Negative balance protection
LiteForex’s automated transaction monitoring and risk-management system ensures that clients’ balances will never fall below zero, protecting you from any losses beyond your positive account balance.
Are you a beginner or an experienced trader?
You want to start investing in Forex with LiteForex, but don’t know the next step?
Great pricing on forex, fast and automated execution, powerful trading platforms and customer service that cares.
Explore LiteForex’s offerings below to find the best solution for you.
Are you a new trader?
Start forex trading in minutes. It doesn’t have to be complicated.
- Start with LiteForex’s educational guide.
- Learn how to trade MT4 and MT5, the most popular platform in the world.
- Open a free demo account and practice what you’ve learned with no risk or obligation.
Go to LiteForex Official Website
Are you an experienced trader?
The flexibility you need in forex trading.
- Begin by comparing LiteForex’s 2 trading platforms. You’ll find the right fit for you.
- Review best practices in LiteForex Official Website.
- Open a free demo to test drive LiteForex’s prices and execution, or open a real trading account.
Open LiteForex Real or Demo Account
Merits of trading FX with LiteForex
Some of the unique qualities of the Forex market make it both flexible and profitable in distinctly exciting ways.
For instance, where else can you see yourself stumbling out of bed, still in your pajamas in the middle of the night, and making a quick trade which could help you reach your financial goals?
The more you learn about forex trading, the more exciting aspects you will discover, including the followings.
1. High Leverage
A great advantage of the forex market is its unique level of leverage.
At LiteForex, any of your trades in forex have the potential of being leveraged by up to 500 times your deposited capital.
Forex thereby offers the potential of huge returns on even small investments, albeit at risk.
2. Profit from both up and down markets
Because most trading strategies in forex apply equally well to upward (bullish) or downward (bearish) trends, you can make unprecedented amounts of money in forex no matter what direction the markets are headed.
How often you get into and out of positions is determined more by personal preference than a market’s momentary direction.
3. Unlimited profit potential
Unlike more traditional stock and bond investments, the world of forex plays no favorites.
The sheer volume of the market, its almost 24/7 liquidity, and the fact that the forces shaping price points of the currency pairs are global, make it possible for a solitary trader working in the privacy of his own home to have the same profit potential as the institutional trader working in a huge Wall Street firm.
Open LiteForex Real or Demo Account
4. Professional and Superior Trading Conditions
At LiteForex, you get to trade with some of the best Bid and Ask prices in the industry.
Some of LiteForex’s accounts incur absolutely no additional transaction fees, LiteForex’s “profit” comes solely from the “spread”, the difference between the buy and sell prices of each currency pair.
Through LiteForex ECN price model you get to trade with spreads from as low as 0.0 pips.
Because ECN spreads are much narrower than “general spreads”, a small fixed commission is charged per transaction.
5. Around the clock money machine
This “around the clock” availability of the forex market makes it ideal for any trader who has unconventional hours available for their trading.
You get to choose when you work. The middle of the night at your desk, or the middle of the day at the beach.
Visit LiteForex Official Website
Frequently Asked Questions by traders about Account Opening
Do you have questions regarding to Account Opening process and the Online Trading?
The following 19 questions and answers might help you with that.
Check them out and deeper your knowledge to LiteForex’s service.
1. What is Client’s Profile (personal profile of a Client)?
Client Profile is a secure area of LiteForex’s site that provides access to all main account operations.
Once you’ve registered your Client Profile, you can open and delete trading accounts, make deposits and withdrawals, or make transfers between your accounts.
Besides, you can use the web terminal for trading, view your personal information, change passwords or leverage value, access the information on your accounts, and carry out other non-trading operations related to managing your accounts and personal details.
2. What is a nickname?
When registering a Client Profile, you need to specify your nickname.
This unique name identifies you within the service Social Trading.
A nickname shall start with a letter and can include numbers and underscores.
Spaces are not allowed.
3. What is a demo mode?
You can log in to the Client Profile in a demo mode on the LiteForex Official Website.
The demo mode will allow you to assess the functions of the copy trading platform before registration and without specifying your personal email address or phone number.
However, you won’t be able to save your trading activity in the demo mode and it doesn’t provide access to most of the options.
To exploit the options of the Client Profile to the full extent, you need to register.
If a registered client hasn’t logged in to his/her Profile, he/she will be able to work only in the demo mode as well.
To have full access to the functions of the Client Profile, Login is required.
4. How to switch between demo trading and real trading?
Once you’ve registered your personal Client Profile, you’ll be able to work in 2 trading modes: Demo trading (not to be confused with a demo mode) and real trading.
Demo trading allows working solely with demo accounts while real trading – only with real accounts.
To switch between these 2 modes, click on your name in the upper line of the Client Profile and press the corresponding button.
5. How many profiles can a Client have?
According to the policy of LiteForex, a Client is only permitted to have one profile.
However, each Client is entitled to have up to ten active trading accounts in his/her personal profile.
The number of active trading accounts, permitted to operate at the same time in the Profile of a Client can be increased upon your request through the General Customer Inquiries Department.
6. How to confirm your e-mail?
To have your email address verified, click on your name in the upper line and choose the “Settings” option.
Next, click on “Verify” in the column containing your email address.
An activation code will be emailed to your address.
Type the code in the corresponding column.
7. How to verify your telephone number?
To have your phone number verified, click on your name in the upper line and choose the “Settings” option.
Click on “Verify” in the column with your phone number.
If your phone number has been identified as “mobile”, you’ll receive an sms with a code that you’ll need to enter into the corresponding field in order to verify your phone number.
In case you haven’t received an sms with a code, please contact the client support service via LIVE CHAT or other means of communication.
8. How to update information about your telephone number?
Click on “Edit” in the line containing your phone number in the “Settings” section.
Enter your new phone number in the window that opens.
To change the confirmed phone number related to the Client Profile, Clients are required to provide a document confirming ownership of a new phone number (agreement with a mobile phone service provider) and a high-quality color photo of an ID held beside the Client’s face.
The Client’s personal data shall be the same in both documents.
The documents can be downloaded in the same window where you need to enter your new phone number, or can be emailed to the support team
9. How to update your residential address?
To change your residential address, you need to log in to your Client Profile and click on your name in the upper line.
Next, click on “Settings”. Click on “Edit” in the “Address” line and specify your new residential address.
Then, confirm the change.
10. How to verify Client’s Profile?
To have you profile fully verified, you need to fill in your current address data into the corresponding fields (Country, Region, City, Postal Code, Address) in the “Settings”section.
Next, click on “verify” under your name and address and upload colour copies of the corresponding documents to confirm your personal details.
11. Why is my profile only 60% complete?
Even if you’ve specified and uploaded all the information required, your profile can be only 60% complete.
Your profile is considered to be 100% complete if you’ve filled in Trader’s questionnaire and profile, which is not mandatory.
12. How do I make an account my main account?
Although you can create several accounts within your Client Profile, all trading operations are conducted only in the “main” account.
Only one main account can participate in the Traders’ Ranking.
The first trading account is opened in the Client Profile automatically after registration and is labelled as ‘’main”.
If you wish to make another account your main account, access the “Metatrader” section and click on “Turn into main” in the line of the corresponding account.
13. How do I start copying?
To start copy trading, you need an account with a minimum balance.
If it’s your first deposit, the minimum sum will be $50.
Access the “Traders”section and define a group of traders who correspond to your requirements using the filters.
We may not recommend any particular traders because your need to take this decision yourself based on the trading strategy, risks, period of work, and number or copy traders.
All the information on any trader is displayed in the form of a transparent monitoring table.
Before making a decision, you can send a message to a trader.
Having selected a trader, click on his/her nickname to open the copy settings window.
Here you can specify a sum to be used for copying the trader, select a copy type and copy stop terms.
For more information on the settings, please read our FAQ concerning the work on the platform of “Social Trading/Trades copying”.
Once you’ve saved your settings, click on “Copy”.
The trader you copy will be displayed in your “Portfolio” at the bottom of the page.
Please note that you can copy several traders at a time or one and the same trader several times.
The sum to be used for each copy is set by yourself.
14. How to change password to access Client’s Profile?
If you have forgotten or wish to change your access password to Client’s Profile, use the password recovery option located on the client profile login page (Forgot password?).
You can also contact General Customer Inquiries Department requesting them to change your password, where a manager will ask you to provide required identification data.
It is recommended to set up a complex password using letters, numbers and special characters.
The data on your password shall be kept secret and secure.
15. How to change trader’s password to access your trading account?
In order to change your Trader’s password, please log in to your Client Profile and access the section “Metatrader”.
Click on “edit” in the “Password” column of the corresponding account.
Enter the new password twice in the window that opens.
You don’t need to know your current trader’s password to do that.
16. How to change credit leverage?
In order to change your leverage, please log in to your Client Profile and access the section “Metatrader”.
Click on “edit” in the “Leverage” column of the corresponding account.
Select the leverage from the list in the window that opens and click on “Save”.
17. How to delete the account?
You cannot delete active accounts in your Client Profile.
Please contact the technical support service via LIVE CHAT or any other means of communication, should you need to do so.
18. How to register in affiliate programs?
To register for the affiliate program, select the “For partners” option in the Client Profile.
Acquaint yourself with the terms of Affiliate agreement using the link on the page that opens and click on “Continue”.
Should you have any questions, please contact the affiliate service.
19. How to restore account from the archive?
If trading operations have not been conducted on a trading account for 3 months and the trading account balance is less than 1000 USD, the account will be archived to make space on the trading server.
In order to restore your trading account, please visit the section “Metatrader” in your Client Profile and click “Restore” next to the account you need to restore.
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