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LiteForex Now Offering Platinum and Palladium Trading

May 17 2013
By

Just a couple of weeks ago, online broker LiteForex announced it is adding world indices to its list of offered trading instruments. Now, the company is taking its product expansion a step further, by introducing Platinum and Palladium trading. 

 

Both are considered extremely attractive instruments, in great demand for trading. Platinum is among the most expensive and rare metals in the world, sought after by the jewelry industry (which uses up approximately 50 tons of it each year) and used widely in medicine and dentistry in particular. In trading, its attraction lies with the fact that its price is relatively stable, and can be used as a protective tool for saving funds in times of economic instability. Furthermore, the XPTUSD pair is often used for hedging. Palladium, on the other hand, is very popular in the chemistry and automobile industries, which makes its price directly related to the development of global industry, as well as the value of the US dollar and other industrial goods (like oil, for instance).

 

At LiteForex, both metals can be traded against the US dollar with a leverage of up to 1:250 (according to the account type used) and no commission fees. This is actually a surprisingly high leverage compared to what other brokers offering Platinum and Palladium trading generally tend have in their trading conditions. For example, Forex.com has been offering both metals for more than a year now, with a leverage of 1:25. OANDA has been doing the same since last June, and the leverage offered is 1:20. ThinkForex is the one that probably comes closest to LiteForex's trading conditions, with an offer of 1:100 leverage, though that is only valid for Platinum, since the broker has no Palladium trading as of yet. 

 

Of course, we all know leverage isn't everything and too much of it can in fact be more than a little bit risky. Still, having this offer certainly makes LiteForex look pretty attractive. It also gives the broker a certain edge when competing against big fish like OANDA and Forex.com. 

 

 

About LiteForex

 

LiteForex Company was established in 2005, aiming to make the Forex market an accessible, safe, easy and profitable place. With this in mind, the brokerage was the first to offer cent accounts with an initial deposit of 1$. 

 

At present, LiteForex is among the leading Forex brokers offering services to traders with all levels of expertise from across the globe. It is on the list of top 100 companies according to World Finance.

 

TAGS: liteforex  platinum  palladium  metals  precious metals 

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