LiteFinance is one of the top brokers that offers easy deposit and withdrawal with reliable payment methods. Read the article below for the tutorial.
Founded in 2005, LiteFinance boasts nearly two decades of experience as an online broker. Licensed by CySEC, they offer ECN forex trading and CFD trading in various assets like commodities, stocks, indices, and even cryptocurrencies.
One of their key strengths is the low minimum deposit of $10, making it accessible for beginners. Additionally, they cater to different trading needs with three account types, including demo accounts for practice.
LiteFinance goes beyond just trading by providing educational resources and market analysis to empower traders. They also incentivize their clients through bonuses, promotions, an affiliate program, and competitions.
For convenient and cost-effective transactions, LiteFinance offers multiple deposit and withdrawal methods, including electronic wallets and cryptocurrency. Each method has specific conditions, as shown in the table below:
| 💳Payment Methods | 💲Currency | 💸Commission |
| VISA/Mastercard | USD | 0% |
| Local Deposit | USD | 0% |
| Perfect Money | USD, EUR | 0% |
| WebMoney | USD | 0% |
| Neteller | USD | 0% |
| Skrill | USD | 0% |
| Advcash | USD | 0% |
| Tether (TRC20) | USDT | 0% + worth 1USD |
| Tether (ERC20) | USDT | 0% + worth 1USD |
| Tether (Omni) | USDT | 0% + worth 1USD |
| Litecoin (LTC) | LTC | 0% + worth 1USD |
| Bitcoin (BTC) | BTC | 0% + worth 1USD |
| Bitcoin Cash (BCH) | BCH | 0% + worth 1USD |
| Ethereum (ETH) | ETH | 0% + worth 1USD |
| Monero (XLM) | XLM | 0% + worth 1USD |
| ZCash (ZEC) | ZEC | 0% + worth 1USD |
| Ripple (XRP) | XRP | 0% + worth 1USD |
| Local Deposit (Vietnam) | VND | 0% |
Regulated by the Cyprus Securities and Exchange Commission (CySEC), LiteForex is also subjected to the European Securities and Markets Authority (ESMA). However, aside from basing its operation on Cyprus, LiteForex also branched to the Marshall Islands. Here, LiteForex hasn't been regulated by any financial regulator yet and conducts its operation under the name of LiteForex Investments Limited (different from LiteForex European Limited which is regulated under CySEC).
Based on some traders' experience registering in LiteForex, the company doesn't strictly limit EU-based traders to LiteForex European Limited. Such traders can openly register under LiteForex Investments Limited that is not subjected to higher leverage restrictions issued by ESMA.
Trading assets in LiteForex range from Currency, Metals, Oil, Stock in CFD, Global Indice, as well as Cryptocurrency. More importantly, the broker provides traders with the chance of trading more than 40 large American companies' Stocks in CFDs.
With the support of both MetaTrader 4 and 5 platforms, LiteForex traders are given the freedom of trading various instruments with the most well-known technologies in trading. It is also the gateway to access an extremely wide selection of custom indicators and Expert Advisors that everyone can discuss and download in MQL4 and MQL5 sites.
ECN and Classic are the only account types offered by LiteForex. Although relatively limited, the account choices have managed to accommodate the majority of traders' needs, particularly those with early to intermediate levels of trading experience.
Interestingly, LiteForex boasts its capability of giving an annual interest for ECN traders which amounts to 2.5% of the accumulated daily free margin. As a complimentary, LiteForex also built a Social Trading system that manages to completely resemble a social media platform with special features solely based on usual trading necessities. The said platform is also easily integrated with traders' Member Area.
On the payment methods' front, LiteForex provides a lot of choices ranging from standard Bank Transfer to electronic payments like Skrill and Neteller. This broker is also known for its ongoing Zero Fees program that relieves traders from the attached fees from each method payment.
More than its commitment to ease traders' experience in terms of payment and trading, Liteforex used to be recognized as one of the first brokers initiating the innovation of Cent Account for small traders, thus the name "Lite". However, the company's focus seems to change over the years so they now choose to limit their service only to ECN and Classic traders.
Furthermore, LiteForex has been serving global retail traders since 2005, an accomplishment not many forex companies can achieve. Therefore, it can be concluded that even though LiteForex is operating as an offshore forex broker, its durability for more than 10 years serves as a reminder of retail traders' trust.
Another thing to note from this broker may come from its expansion to Asian countries and their passionate effort to penetrate the markets profoundly. Not only the language support in the official website, but LiteForex also goes beyond to maximize its commitment by providing local payments and other means specifically tailored for each country's traders.
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 2005, it is quite safe to say that trading in LiteForex can be considered quite reliable, especially considering its status as an offshore brokerage.
LiteFinance Deposit Guide
You can fund your LiteFinance account, which is accessible via PC and mobile. Verification is mandatory to make a deposit, so you can easily fund your account with your new or existing live account.
- Log in to LiteFinance. If you don't have an account yet, create one first.
- Click "Finance" on the left menu. To initiate a deposit, please click on the "FINANCE" menu, then select the deposit tab. If you use the deposit method with bank transfer, immediately select the bank used and click "CONTINUE".
However, if you want another payment method, scroll down to the "All deposit methods" section which will display many payment method options including Bank Card, Electronic System, Cryptocurrency, Bank Transfer, and Local deposit (Only for some countries). - Choose your desired payment method. In this example, the author will demonstrate how to deposit on LiteFinance using cryptocurrency, specifically Bitcoin. So, click on "Cryptocurrencies" and then select "Bitcoin (BTC)".
- Complete the deposit form. Enter the amount of money you wish to deposit into your LiteFinance account. You can enter the coupon code if you have one by checking the "Use promo code" box. If everything is correct, please click "CONTINUE".
- Confirm and transfer funds. Since you are using the Bitcoin payment method, you must transfer funds to the provided BTC Wallet Address with the amount matching what you entered on the previous deposit form page. Ensure that the LiteFinance Wallet Address is copied and pasted correctly to receive the funds. Once done, click "CONFIRM".
Making a Withdrawal from LiteFinance
How about withdrawals at LiteFinance broker? As mentioned earlier, the withdrawal process at LiteFinance is quite easy and fast. This time, the author will give an example of how to withdraw funds on LiteFinance using the USDT payment method using a mobile phone. How to do it?
Follow these steps to withdraw your money from LiteFinance.
1. Log in to your LiteFinance account
2. Go to the Finance menu. Similar to the deposit process, to initiate a withdrawal, please navigate to the "FINANCE" menu on the left sidebar under the "FINANCE" menu, select the "Withdrawal" tab.
3. Choose the cryptocurrency payment method. In the withdrawal tab, select "USDT" or "Tether (TRC20)", then click "ADD".
4. You will be redirected to the add wallet page. Please enter your USDT wallet address and click "SAVE".
5. If successful, a notification like this will appear, click "X" to close it.
As a reminder, because the chosen USDT withdrawal method uses the Tron network (TRC20), make sure your USDT wallet address also uses the Tron network, usually starting with the letter "T", for example; "TGtC5KWrAcFKcCTHYEE8hutSEd...".
6. Complete the withdrawal form. Enter the amount of money you wish to withdraw from LiteFinance. In the wallet column, select the Wallet Address that you successfully added in the previous step. For withdrawals with USDT, you will be charged $1 per transaction. If everything is correct, click "CONTINUE".
7. Confirm the withdrawal. Then you will be redirected to the withdrawal confirmation page. On that page, you also need to enter the verification code sent to your phone number by the LiteFinance system.
8. If everything is correct, click "CONFIRM" as below.
9. Then, a LiteFinance notification like this will appear if the withdrawal request is successfully made.
10. Wait for funds. Once the request is complete, it usually takes a few minutes to several hours for the funds to reach your USDT wallet, depending on network traffic. Here is the example when the withdrawal is successful, and the funds are landed in the Wallet.
EndNote
LiteFinance, a recognized broker with over a decade of expertise, goes beyond favourable trading conditions to offer a convenient and hassle-free deposit and withdrawal system. They cater to your needs, providing traditional options like bank wire transfers alongside modern e-wallets. The process is known for its ease and speed, ensuring a smooth experience. Their dedicated customer service team can assist you if you encounter any issues.
LiteFinance leverages cutting-edge technology to empower both novice and experienced traders. This brokerage offers a comprehensive suite of financial tools and services designed for the evolving needs of the modern investor. Their focus on transparency, user-friendliness, and continuous innovation has earned them a loyal following and positioned them as a prominent player in the fintech space.