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To keep their traders engaged in more trading activities, LiteForex also holds seasonal trading contests and various kinds of promotional bonuses. Their profile in numerous review sites also indicates a relatively safe broker for retail traders.
Yet, it is important to note that LiteForex offers its service globally as LiteForex Investments Limited which hasn't been registered to any financial regulations. This may subject traders to difficulties in filing complaints and compensation claims should there be unfortunate incidents in the future. But if we take a look at its long-standing as a comparatively experienced broker since , it is quite safe to say that trading in LiteForex can be considered quite reliable, especially considering its status as an offshore brokerage.
LiteForex is a beginner-friendly forex broker and usually follows the trend in the forex industry. Therefore, it didn't come as a surprise when the broker announced the offering of Bitcoin and several other cryptocurrencies as their payment methods. This is why there is a particular cryptocurrencies section in the deposit and withdrawal table provided by the broker.
This broker also emphasizes that Blockchain will sort the priority of transferring funds via Bitcoin. That is why the broker may not always process forex deposits with Bitcoin instantly. The Bottom Line The emergence of Bitcoin and other cryptocurrencies into the forex market both as trading instruments and payment methods shows that forex trading is always evolving.
As a trader, depositing money via Bitcoin can give a new edge to your experience; aside from keeping up with the latest trend, using Bitcoin payment also brings instant and efficient transactions with a new level of safety protocol to protect your identity. This is why any forex trader must be up to date with what is new and kicking in the industry, to make sure that the new updates can be beneficial for them. Should you be interested to start trading with one of the brokers above, you may need to pay attention to their other features besides the Bitcoin payment.
Here is a comparison table for your consideration: Compare. The best part about this platform is that it allows instant deposits and same-day withdrawals. Other than that, you can even use the prepaid cards that third-party companies or forex brokers themselves issue. PayPal transaction methods for deposits and withdrawals have two added benefits.
Secondly, the platform and its transaction methods are secure, so your privacy and confidentiality will be protected at every cost. Why should you use PayPal as the payment method at your broker? PayPal offers a secure way to deposit and withdraw funds to your forex account. The method is simple yet secure. PayPal digital wallet is fast, and most transactions will be instant. The platform is a multi-currency platform that supports more than twenty-five unique currencies.
Hence, you will no longer require offline currency exchange. The platform charges a small amount of fee. There are two factors that you should check. First of all, please check if your country supports PayPal transaction services. A small list of territories is blocklisted from using PayPal.
If you belong to such a country, it will be a problem. Some countries that accept PayPal payments come with Send Only status. Send the Only status means you can deposit funds using this payment method, but you cannot withdraw funds using PayPal. The best option is to look for a forex account to send and receive funds using PayPal. PayPal offers a chargeback payment option for all disputed transactions. For example, if the trader does not ultimately authorize a deposit transaction, you can take advantage of this Paypal chargeback process, and the platform will initiate the refund.

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