The International Business Times had the chance to make an interview with Alexey Smirnov from LiteForex.
What is your professional background?
Today LiteForex is a world famous brand in the sphere of providing international foreign exchange market services. In the beginning of its activity LiteForex set a first-priority goal to become one of the leading companies in online trading. This year LiteForex has celebrated its fifth anniversary, and during these 5 years company management and qualified employees were improving LiteForex's services. In its work LiteForex makes an emphasis on providing every client with perfect trading conditions on the financial market. The present day LiteForex is one of the first in a list of companies that provide online trading service on the Forex market judging by the number of regular clients and by a scale of services it offers.
Does LiteForex focus more on European clients or also on Asian and US clients?
LiteForex successfully operates in many countries and year by year increases an area of its presence. Today more than 240,000 traders all over the world use LiteForex's services. Let's mention that LiteForex trade mark has a strong stand in Asia. A ShowFx World international exhibition was held in Singapore in July, 2010. The largest companies of Forex industry participated in it. According to results of the exhibition and independent world financial experts, LiteForex was rewarded with The Most stable broker in Asia 2010.
The deserved award has brought a world recognition and was a result of trade mark promotion and LiteForex's consolidation on the international arena of online trading.
Can you tell me about the concept of LiteForex? Are you looking more for beginner or professional traders?
LiteForex's focus on customer's needs and general conception of the group of companies have a positive effect on the service provided. LiteForex's business principles are based on the clients' interests. Every trader no matter the level of Forex training or amount of deposit will find everything he needs for a successful trading: automated order execution, fixed spread starting from 2 points, no commission, possibility of margin trading with the help of leverage or mechanical systems and Forex robots.
We can say in all modesty that LiteForex has created trading conditions, as clear as possible and comfortable for both beginners and professionals.
Well trained LiteForex employees supply clients with a technical support and help online with any problem that can arise 24 hours a day. www.LiteForex.org is presented in 11 language variants for our clients' convenience. Here you can find the recent data upon current Forex market situation: up-to-the-minute analytical information, economic events calendar and financial news from Dow Jones leading agency.
You have two different trading platforms. LiteForex is the one for beginner traders; and RealForex the one for professional traders. What are the differences between these two platforms?
LiteForex is open for a wide clients audience. Considering the needs and possibilities of newbies and experienced traders we offer two account types for their work to be more comfortable: LITEForex and REALForex. At the same time the principal conditions of currency transactions are equal on both accounts.
Cent account, a revolutionary product of LiteForex experts, has a reduced requirement for entering the market and offers beginner traders an opportunity to gain experience of real Forex trading. REALForex account was designed for carrying out large-scale transactions.
It is known from experience that a majority of clients firstly having opened cent accounts with LiteForex, later, after having acquired some necessary professional trading skills and learned the market, start managing sizable assets.
Do your clients prefer to trade currencies or equities and commodities?
We want LiteForex clients to use diverse market possibilities, so we offer a list of 83 trading instruments. Using the same live account our clients can trade currency pairs, precious metals and execute transactions with world indices and CFD on shares of the largest companies.
LiteForex clients do not have common trading preferences. Each trader just chooses the most appropriate market that fits him at a certain moment and thus chooses the necessary trading instrument.
LiteForex is about to launch an absolutely new trading platform designed by MetaQuotes Software Corp. Metatrader 5 will allow clients to work on major financial markets at the same time using only one trading account. Now Metatrader 5 trading platform can be used only in a demo mode.
Please tell me more about your bonus programs.
LiteForex is regularly carrying out promotions and bonus programs for its clients. Today bonus from LiteForex is the most popular promotion among traders. Having opened a trading account with LiteForex and deposited it, the client will be granted with a bonus the amount of which depends on a deposit size.
For those willing to start their own business in the sphere of online trading LiteForex offers some additional opportunities and provides with multilevel partnership programs: Bring a friend, Internet-partner, White Label.
According to marketing researches held by the company experts, the majority of the new clients find out about LiteForex from their friends and close people which proves LiteForex a stable company with an image of a reliable partner. These are the clients we have created our Bring a friend program for, it provides participants with a primary right to gain a significant bonus on their deposit.
Internet-partner program is made for owners of the web sites. Such a partner receives a compensation for publishing information about LiteForex: a part of transaction spread of every client he has attracted.
White Label is dedicated to persons who wish to become LiteForex's local representative. An amount of compensation and all significant details of this program are discussed individually.
Let's mention that partnership programs that are carried out at LiteForex have gained Best Partnership program 2010 nomination at 2010 Forex Awards. The contest is annually held by World Finance, a competent British edition.
We consider this deserved reward as the best evidence of LiteForex partnership programs to be a sure form of collaboration that has proved successful and is steadily functioning.
What do you think about the global economy? Will we see a double dip recession in the US?
According to world financial analysts opinion, a probability of a double dip recession is 40%. We believe it is rather difficult to estimate the recession probability in per cents and we do not rely on experts' forecasts. It's hard to tell for sure whether the USA is moving into another turn of recession basing on the economic data that are appearing now. It is possible there will be a certain lowering in the country economic growth rates caused by a reduced activity of a producing sector.
If you take a look into the future, where does LiteForex want to be in 5 years?
We are sure LiteForex will maintain its irreproachable image and its deserved leadership position in Forex industry. LiteForex experts will be keeping on watching the slightest changes in the online trading sphere, and introduce new services for regular and future clients pursuant to the changes. LiteForex was formed to comply with clients' interests and we will always put their interests ahead.