Does LiteFinance (LiteForex) Support MT4

Published :
Updated :
Written by

Forex brokers are dealers or firms that offer access to forex market using trading platforms. There are many online forex trading platforms including MT4, MT5, cTrader, and so on. These platforms give access to forex markets. Most of the forex brokers use MT4 as their default trading platform.  So, if you are considering using Lite Finance as your broker, you may be wondering if it works with MT4. 

Lite Finance is one of the popular forex  brokers. It offers forex, CFD, and Crypto CFD trading. In this blog post, we will discuss the compatibility of Lite Finance with MT4. We will also explore alternative trading platforms, pros and cons, MT4 account creation, and so on. 

Does Lite Finance work with MT4?

Yes, Lite Finance supports MT4 as its trading platform. MT4 is one of the most popular trading platforms in the world. It is known for its user-friendly interface, advanced charting tools, and automated trading capabilities. Traders can access the MT4 platform on Lite Finance through various devices, including desktop computers, web browsers, and mobile devices

What other Trading Platforms does Lite Finance support ?

LiteFinance supports several other trading platforms. They include:  

MT5

Released in 2010, MT5 is a multi-asset trading platform developed by Metaquotes, the same company that developed MT4 in 2005. MT5 is the upgraded version of MT4. It offers more timeframes on charts, with 21 compared to MT4’s 9. MT5 also offers a built-in economic calendar and partial order fill policy. Additionally, MT5 allows depth of the market (DOB). The programmatic language of MT5 is MQL5. However, it is not as popular or user-friendly as MT4 yet

LF

cTrader

Launched in 2011, cTrader is a trading platform developed by Spotware Systems. It offers advanced trading capabilities for forex and CFD trading. It is renowned for its intuitive interface, extensive charting tools, and efficient order execution. cTrader provides access to a wide range of financial instruments and offers features such as one-click trading, advanced order types, and customizable charting tools. It also includes built-in technical indicators and allows for algorithmic trading through its cAlgo platform. While not as widely used as MT4 or  MT5, cTrader has emerged as a competitor of Metatrader. 

Why Choose Metatrader 4 on Lite Finance

Here are some reasons why traders might choose this Metatrader 4 on Lite Finance 

Easy and Simple Interface:

MT4 provides a user-friendly interface that makes it accessible for both novice and experienced traders. The platform’s layout is designed for easy navigation and quick access to essential trading tools, and charts.

Advanced Charting Tools:

MT4 is renowned for its advanced charting capabilities. Traders can conduct in-depth technical analysis using a variety of chart types, timeframes, and technical indicators. This helps in making better trading decisions.

Automated Trading:

 MT4 supports automated trading through Expert Advisors (EAs) which allow users to implement automated trading strategies. Traders can create or purchase EAs to execute trades based on predefined criteria, even when they are away from the computer.

Wide Range of tradable assets:

Lite Finance on MT4 offers a wide range of financial instruments, including currency pairs, commodities, indices, and cryptocurrencies. This enables traders to diversify their portfolios and explore various markets.

Security and Trust:

MetaTrader 4 is known for its robust security features which provide a secure environment for online trading. Additionally, Lite Finance is expected to uphold high standards of security and reliability to ensure a safe trading experience.

Mobile Trading:

 MT4 is available on mobile devices, allowing traders to monitor and manage their trades on the go. The mobile app provides essential features, enabling traders to stay connected to the markets at all times

How to create an MT4 Trading Account on Lite Finance

Creating an account on Lite Finance is easy and simple. Here are the steps : 

Step 1: Account Setup:

  • Create an Account: If you haven’t already, sign up for an account on Lite Finance. Follow the registration process and provide the necessary information.
  • Account Verification: Complete the account verification process by submitting the required documents, ensuring compliance with regulatory standards.

Step: 2 Download and Install MT4:

  • Access Lite Finance Website: Login to your Lite Finance account through the official website.
  • Visit to MT4 Section: Locate the section related to MetaTrader 4 on the Lite Finance website.
  • Download MT4 Platform: Download the MT4 platform from the provided link.
  • Install MT4: Follow the installation instructions to install the platform on your computer.

Step 3: Login to Your MT4 Account:

  • Launch MT4: Open the installed MT4 platform on your computer.
  • Login Credentials: Enter your Lite Finance account credentials (username and password) provided during the account registration process.
  • Server Selection: Choose the appropriate Lite Finance server from the list.

Step 4: Explore the MT4 Interface:

  • Market Watch: View available instruments and their real-time prices in the Market Watch window.
  • Charts: Open charts for different financial instruments. Customize chart settings, and timeframes, and add technical indicators.
  • Order Execution: Execute trades using the ‘New Order’ window. Specify trade parameters, such as volume, stop-loss, and take-profit levels.

Step 5: Use of Trading Tools:

  • Technical Analysis: Leverage the advanced charting tools for technical analysis. Add indicators, trendlines, and other analysis tools to enhance your decision-making.
  • Expert Advisors (EAs): Explore and use Expert Advisors for automated trading. Install EAs or create your own to automate trading strategies.

Step 6: Monitor and Manage Trades:

  • Trade Management: Monitor open positions, view account history, and manage trades using the ‘Trade’ and ‘Account History’ tabs.
  • Modify Orders: Adjust stop-loss and take-profit levels or modify existing orders directly from the platform.

Step 7. Mobile Trading (Optional):

  • Download Mobile App: If desired, download the MT4 mobile app on your smartphone or tablet.
  • Login to Your Account: Use your Lite Finance account credentials to log in to the mobile app.
  • Trade on the Go: Manage your trades, monitor the market, and execute orders from your mobile device.

Step 8: Customer Support and Resources:

  • Lite Finance Support: Reach out to Lite Finance customer support for any platform-related queries or assistance.
  • Educational Resources: Explore educational materials and resources provided by Lite Finance to enhance your trading knowledge.

The Pros and Cons of Using MT4

Pros
  • Free to Use 
  • User-Friendly Interface 
  • Real-time access to market prices
  • Widely Used for Traders 
  • Customizable Indicators 
  • Backtesting Capabilities 
  • Large Community and Support 
  • Allows Automated Trading 
  • Multiple Servers 
  • Low System Requirements 
  • Multi-Language Availability 
  • Support Mobile, PC, and other Devices 
  • Support Multi assets including Forex, CFD, Crypto CFD, Indices, and Commodities.
Cons
  • Limited Number of assets 
  • Lack of Build-In News Feed 
  • No Economic Calendar:
  • No Depth of Market
  • Older Architecture
  • Lack of Advanced order type  ( 4 Pending order while MT5 has 6 ) 
  • Mono-threaded platform with 32-bit operating system
  • Limited Timeframe on charts (9 Timeframe while MT5 has 21 time frame)

Frequently Asked Questions (FAQs)

What is Lite Finance?

Founded in 2005.  Lite Finance is an regulated forex broker. It allows restriction-free trading facilities to traders worldwide. Lite Finance offers  Currency , Metals , Oils , Commodities trading with up to 1:1000 leverage. It claims itself as a true ECN forex broker.  

What is MT4?

Metatraders 4 (MT4)  is a widely used electronic trading platform for forex and other financial instruments. It offers a user-friendly interface, advanced charting tools, and support for automated trading through Expert Advisors (EAs). Traders can execute trades, conduct technical analysis, and implement automated strategies on the MT4 platform.

Does Lite Finance offer an MT4 Demo Account for Free?

Yes, Lite Finance provides a free MT4 Demo Account. This allows users to practice and familiarize themselves with the features of the platform without risking real money. It’s an excellent way for beginners to learn and for experienced traders to test new strategies.

What is the timezone of Lite Finance MT4?

The server time for LiteFinance is GMT+2 or GMT+3 depending on the time of year. During the winter months, the server time is GMT+2, while during the summer months, it is GMT+3. 

Can I Use EA with Lite Finance MT4?

Yes, traders on Lite Finance can use Expert Advisors (EAs) with the MT4 platform. EAs enable automated trading by executing predefined trading strategies, making it convenient for traders who wish to implement algorithmic approaches.

What is the Minimum Amount I Can Deposit for Lite Finance?

The minimum deposit for Lite Finance is as low as $10. This low entry requirement makes it accessible for traders with varying levels of capital.

Is Lite Finance MT4 Available for MAC Users?

Yes, Lite Finance MT4 is available for MAC users. Traders using MAC computers can easily download and install the MT4 platform to access the full suite of trading features.

Is Lite Finance MT4 Available on Android Devices?

Yes, Lite Finance MT4 is available on Android devices. Traders can download the mobile app from the Google Play Store and enjoy the convenience of trading on the go.

Does Lite Finance Offer Mobile Trading on MT4 Platforms?

Yes, Lite Finance offers mobile trading on MT4 platforms. Whether on Android or iOS devices, traders can use the MT4 mobile app to manage their trades, monitor the market, and execute orders from anywhere.

What Instruments Can I Trade on Lite Finance MT4?

On Lite Finance MT4, traders have access to a diverse range of instruments, Currency , Metals , Oils , Commodities This allows for a comprehensive trading experience across various financial markets.

Does Lite Finance Use MT5 Trading Platform?

Yes, LiteFinance uses the MT5 platform. MT5 is the upgraded version of MT4. Both MT4 and MT5 are developed by Metaquotes

Where is the Headquarters of Lite Finance Located?

The headquarters of Lite Finance is located in Port Louis, Mauritius.

What are the Account Types in Lite Finance?

Lite Finance offers only 2 type of account: ECN, Classic

Final Thoughts:

Lite Finance uses MT4 as its trading platform. It also uses other platforms like MT5, LF, cTrader, and more

MT4 is one of the most popular and widely used trading platforms in the forex work. It is known for its user-friendly interface and advanced tools. It facilitates online trading in various financial markets, offering features like chart analysis, automated trading through Expert Advisors, and accessibility across multiple devices

Trading forex and CFDs comes with the risk of losing your trading capital.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

Leave a Comment