For beginners, you can use that broker. If you are proficient in trading and have sufficient capital, you can use a more prestigious broker.
Thanks.
@ Jack :
As far as I know, around 7-8 years ago LiteForex was famous for having a cent account, so you could trade with just USD 1. Now it seems this broker is more focused on profit sharing programs with PAMM (Percent Allocation Management Module). From their promotion that I know, the regulatory body is not listed. To ensure the quality now, you can check where the regulator is and whether payments can be made through third parties like e-Gold and Liberty Reserve which turned out to be scams.
In my opinion, if you want to trade seriously, it is better to go to a broker that is regulated by a credible regulatory body such as NFA, CFTC, FSA, ASIC, etc., rather than having problems later.
@ bagus suryadi:
NordFX has been operating since 2008, regulated by:
- Securities and Exchange Board of India (India)
- International Financial Services Commission (Belize)
- Financial Services Commission (Mauritius)
AAAFx has been operating since 2010, regulated by FCM European Union and HCMC (Greece), and appears to be more focused on autotrading (copy trade) via ZuluTrade, where traders only need to copy the trading style of signal providers (other live traders) via this broker. If you are interested in creating a live (real) account on ZuluTrade with AAAFx broker, you can read here.
Regarding both brokers, if it's for learning to trade with relatively small funds, I think it's still safe, but if you're serious or have relatively large funds, it's better to go with a broker regulated by a credible regulatory body (NFA, CFTC, FSA/FCA, ASIC, etc.).