Offshore forex broker LiteForex said on Thursday it has reduced the spreads on several world indices for users of Classic and ECN trading accounts.
Spreads have been lowered for trading in the following indices: S&P500 index of the American stock exchange (SPX), DJIA index of the American stock exchange (YM), FTSE100 index of the British stock exchange (FTSE), DAX30 index of the German stock exchange (FDAX), CAC40 index of the French stock exchange (CAC), EUROSTOXX50 index (SX5E), the ASX200 index of the Australian stock exchange (ASX200), and the Nikkei 225 index of the Tokyo Stock Exchange (NKY).
More information follows:
Spreads for Classic accounts
Spreads for ECN accounts
Spreads are used to measure the difference between the bid and the ask price of an instrument. Low spreads, although they are not the only transaction-related cost, mean that investors will pay lower cost of trading, since the broker charges less.
In addition to Classic and ECN accounts, LiteForex also offers Cent and PAMM trading accounts. The minimum initial deposit the broker requires ranges from $10 to $500, depending on the account type, and the leverage rate is up to 1,000:1.
LiteForex, set up in 2005, is a brand of LiteForex Investments Ltd., which is registered and regulated in the Marshall Islands. The Marshall Islands are known as an offshore destination where many forex brokers choose to be regulated.
Its product portfolio includes a wide range of trading instruments, such as forex, indices, precious metals, oil, and contracts for difference (CFDs).