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Do you want to know which is the better broker between LiteForex and Swiss Markets ?
In the table below, you can compare the features of LiteForex , Swiss Markets side by side to determine the best fit for your needs.
EURUSD:0.5
EURUSD:2.3
EURUSD:9.93
XAUUSD:19.23
EURUSD: -6.48 ~ 2.87
XAUUSD: -41.02 ~ 8.74
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You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of liteforex, swiss-markets lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
LiteForex Review Summary | |
Founded | 2004 |
Registered Country | Cyprus |
Regulated | CYSEC |
Trading Instruments | Currency, commodities, global stock indices |
Demo Account | ✅ |
Leverage | Up to 1:30 |
EUR/USD Spread | Floating around 0.6 pips |
Trading Platform | MT4, MT5 |
Copy Trading | ✅ |
Min Account Deposit | $50 |
Customer Support | Working hours: 9 a.m. - 9 p.m.(GMT +2) (Monday to Friday) |
Live chat | |
Phone: +357-25-750-555 | |
Email: support@liteforex.eu | |
Address: Liteforex (Europe) Ltd, 30 Spyrou Kyprianou, 1st Floor, Germasogeia, 4040, Limassol, Cyprus |
LiteForex is a Cyprus-registered company that provides online trading services for forex, commodities, and global stock indices markets. It is regulated by the Cyprus Securities and Exchange Commission (CYSEC) and offers two types of live accounts: ECN and Classic. LiteForex also provides demo accounts and rich educational resources for beginners. The company allows clients to deposit and withdraw funds via popular electronic transfers, bank cards, and bank wire transfers with a minimum amount of 1 USD and no extra fees.
Pros | Cons |
Many years' experience in the industry | Limited leverage ratios |
Regulated by CySEC | No 24/7 customer support |
Member of the Investor Compensation Fund | |
Various trading instruments | |
Demo accounts available | |
Tight EUR/USD spread | |
MT4 and MT5 supported | |
Copy trading offered | |
Low minimum deposit | |
Popular payment options | |
No deposit/withdrawal fees | |
Rich educational resources for beginners | |
Multiple contact channels |
Yes. LiteForex is regulated by Cyprus Securities and Exchange Commission (CySEC).
Regulatory Agency | Cyprus Securities and Exchange Commission (CySEC) |
Current Status | Regulated |
Regulated by | Cyprus |
Licensed Institution | Liteforex (Europe) Ltd |
Licensed Type | Straight Through Processing (STP) |
Licensed Number | 093/08 |
Besides, the broker says that it is a member of the Investor Compensation Fund, which enables them to guarantee that all of their client funds are insured (up to 20,000 EUR).
Tradable Instruments | Supported |
Forex | ✔ |
Commodities | ✔ |
Stock Indices | ✔ |
Cryptocurrency | ❌ |
Bonds | ❌ |
Options | ❌ |
ETFs | ❌ |
LiteForex offers a demo account for beginners to practice trading without risking real money.
For live accounts, the company provides two options: ECN and Classic.
Account Type | Minimum Deposit | Account Base Currency |
ECN | $50 | USD, EUR, GBP, PLN |
Classic | $50 | USD, EUR, GBP, PLN |
LiteForex offers a maximum leverage of 1:30, which is a commonly seen level in the forex industry. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Account Type | Spread | Commission |
ECN | Floating from 0.0 points | ✔ |
Classic | Floating from 2.0 points | ❌ |
Currency Pair | Spread (Floating) |
EUR/USD | 0.6 pips |
GBP/USD | 1.0 pips |
AUD/USD | 1.0 pips |
USD/JPY | 1.0 pips |
EUR/JPY | 0.2 pips |
LiteForex offers both MT4 and MT5 trading platforms, which are widely recognized and trusted by traders in the industry. You can download Apps for Android and iOS.
Trading Platform | Supported | Available Devices | Suitable for |
MT4 | ✔ | Windows PC, MacOS, iPhone/iPad, Androi | Beginners |
MT5 | ✔ | Windows PC, MacOS | Experienced traders |
Payment Options | Min Deposit | Commission/Fee | Deposit Time | Withdrawal Time |
Visa/MasterCard | $10 | ❌ | Instant | 3-5 days |
Bank wire transfers | $10 | ❌ | 2-5 days | 2-5 days |
Neteller/Skrill | $1 | ❌ | Instant | Instant |
Swiss Markets Review Summary | |
Founded | 2016 |
Company Name | BDS Swiss Markets Global Services Ltd |
Registered Country/Region | Mauritius |
Regulation | CYSEC (Regulated) |
Trading Instruments | Forex, Metals, Energy, Commodities, and Indices |
Demo Account | Available |
Swap-free Account | Available |
Trading Platform | MT4 |
Minimum Deposit | $200 |
Customer Support | Phone: +44 (20) 36709704; +49 3021446981; +34 (91) 0756974; +357 25262934; Email: support@swissmarkets.com; Online Messaging |
Swiss Markets, a subsidiary of BDS Swiss Markets Global Services Ltd, is an online forex and CFD broker that has been operational since 2016. It provides investors with various trading assets, including Forex, Metals, Energy, Commodities, and Indices. The company is registered in Mauritius and regulated by the Cyprus Securities and Exchange Commission (CYSEC).
Despite being a regulated entity, Swiss Markets has been identified on a list of blocked websites issued by the Ministry of Trade, Indonesia, on February 2, 2022, citing unauthorized commodity futures trading. This is a significant red flag for potential investors considering using their platform.
Pros | Cons |
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It is regulated by the Cyprus Securities and Exchange Commission (CYSEC), ensuring it adheres to strict regulatory standards.
It offers appealing spreads and commissions, which can help traders keep their trading costs low.
It supports the popular MT4 trading platform, which provides advanced charting tools, automated trading through Expert Advisors (EAs), and a secure trading environment.
It provides various methods for deposits and withdrawals, offering flexibility and convenience to clients.
It has been marked out on the WikiFx warning list, which can raise concerns about its credibility and reliability. It's always important for traders to do their due diligence when choosing a broker.
Swiss Markets is regulated by the Cyprus Securities and Exchange Commission (CYSEC), which generally offers a degree of reassurance that they adhere to specific regulatory standards for fair trading and client transparency. However, despite regulation status, Swiss Markets have been flagged up due to their presence on a warning list issued by WikiFX, a platform providing broker service information and more.
Swiss Markets is part of a list of brokers that have been flagged as potentially dangerous by a regulatory authority. On February 2, 2022, these brokers had an adverse disclosure issued by the Ministry of Trade in Indonesia. This listing blocks several websites due to their participation in illegal commodity futures trading and gambling under the pretense of trading.
The exposures concerning Swiss Markets generally focus on issues related to withdrawals and deceptive practices. Users commonly reported experiencing troubles when trying to withdraw their funds - unexpected fees were sometimes introduced and withdrawals would either take an excessively long time or not be processed correctly, often leading to additional costs. Furthermore, some users also pointed out concerns relating to the handling of deposits and unexpected trade anomalies after depositing significant amounts. The issues were not satisfactorily resolved, even after multiple complaints, casting doubts about the platform's reliability and trustworthiness.
Forex: This involves trading in the global currency market, offering a range of currency pairs for trading.
Metals: This category allows users to trade in precious metals such as gold and silver.
Energies: Swiss Market clients have the opportunity to trade in energy commodities, including crude oil and natural gas.
Indices: This platform provides global indices allowing traders to gain exposure to various sectors of different economies.
Equities: Clients can also opt to trade in equities, providing an opportunity to invest and trade in various company shares.
Swiss Markets offers two primary account types, the STP Classic and the STP Raw, both with a minimum deposit of $200. The STP model is a mechanism in the financial market that allows direct trades between buyers and sellers without going through an intermediate exchange or any other form of processing. This implies a non-dealing desk environment where trade orders are automatically processed by the system, eliminating the need for a manual dealing desk.
Swiss Markets offers different levels of leverage depending on the account type and the market instrument being traded. For Forex trading, the leverage is quite high - it can go up to 1:500 for the STP Classic account and up to 1:200 for the STP Raw account. For other trading categories, such as Metals, Energies, Indices, and Equities, the leverage is set at 1%, or equivalently a ratio of 1:100. This applies uniformly on both STP Classic and STP Raw account types.
It's important to note that while higher leverage can magnify profits, it can also increase potential losses. Therefore, it should be used judiciously and traders should have a well-thought risk management strategy in place.
Spreads | Commissions | |||
STP Classic | STP Raw | STP Classic | STP Raw | |
Forex | 0.9 pips | 0 pips | No | 11 |
Precious Metals | 22 points | 18 points | 5 | |
Energies | 55 points | 35 points | ||
Stock Indices | Fixed | Fixed | 2 |
Swiss Markets operates with two different account types, STP Classic and STP Raw, each with its unique spread and commission structure. They have designed these structures to cater to a diverse range of trading needs.
For the STP Classic account, spreads are set low and no commissions are charged across Forex, Precious Metals, and Energies trading. However, there is a minimal fixed commission for Stock Indices.
Conversely, in the STP Raw account, they offer extremely low or even zero spreads in Forex trading. This tighter spread is also evident in Precious Metals and Energies trading. This lower spread does come with a commission fee. In the case of Stock Indices, like with the STP Classic, spreads are fixed with a small commission charge.
Swiss Markets offers the MetaTrader 4 (MT4) trading platform, a comprehensive platform that offers a variety of features to aid traders in executing their strategies, one of the most popular and widely used trading platforms in the world. It's available across multiple devices including Windows, Mac, iOS, and Android, offering flexibility and convenience to its users.
Deposit & Withdrawal
Swiss Markets offers a diverse range of deposit and withdrawal methods, including Visa, Mastercard, Maestro, Postepay, Giro Pay, Swift, Sofort, EPS, iDeal, Przelewy24, Skrill, and Neteller. Most methods support various currencies and process deposits immediately. Swift,however, can take 1-4 working days for deposits to process.
When it comes to withdrawals, Visa, Mastercard, Maestro, Skrill, Neteller, and Swift manage this within 24 hours. Postepay, Giro Pay, Sofort, EPS, iDeal, and Przelewy24 do not support withdrawals.
For a detailed breakdown of the deposit and withdrawal methods, supported currencies and timeframes, clients can refer to the table provided.
Swiss Markets is a broker that is regulated by the Cyprus Securities and Exchange Commission. They offer broad accessibility with a user-friendly interface, multidimensional trading analysis tools via the MT4 platform, and diverse methods for deposits and withdrawals. They prioritize client fund safety, with a minimum deposit of $200, and ensure swift processing of transactions. However, being flagged on the WikiFx warning list signals the need for users to conduct their own due diligence.
Q: How much money do I need to put in to open an account?
A: The minimum deposit for starting a new account is $200.
Q: Is Swiss Markets regulated?
A: Yes, the broker is regulated by the Cyprus Securities and Exchange Commission (CYSEC) however recently was flagged by the Ministry of Trade in Indonesia for unauthorized activity.
Q: What trading platform does Swiss Markets use?
A: Swiss Markets uses the MetaTrader 4 platform, under a white-label license.
Q: Why is Swiss Markets on a warning list?
A: The Ministry of Trade in Indonesia listed Swiss Markets on a warning list for illegal commodity futures trading.
Q: How can I contact Swiss Markets?
A: Swiss Markets can be contacted via phone: +44 (20) 36709704; +49 3021446981; +34 (91) 0756974; +357 25262934; Email: support@swissmarkets.com. And online messaging on the website is also available.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive liteforex and swiss-markets are, we first considered common fees for standard accounts. On liteforex, the average spread for the EUR/USD currency pair is from 2.0 points pips, while on swiss-markets the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
liteforex is regulated by CYSEC. swiss-markets is regulated by CYSEC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
liteforex provides trading platform including CLASSIC,ECN and trading variety including --. swiss-markets provides trading platform including RAW STP - SWISS11,CLASSIC STP ACCOUNT and trading variety including --.