How to Open Account in LiteFinance

In LiteFinance, opening account is very easy and can be done only in several steps. Read the article below for the guidance.

LiteFinance, founded in 2005, offers Forex and CFD trading services to a global client base exceeding 1.5 million. Headquartered in Cyprus, the company operates under regulations from CySEC (Cypriot Securities and Exchange Commission) for its European branch and SVGFSA (Saint Vincent and the Grenadines Financial Services Authority) for its international operations.

Trading assets in LiteFinance range from Currency, Metals, Oil, Stock in CFD, Global indices, as well as Cryptocurrency. More importantly, the broker allows traders to trade more than 40 large American companies' Stocks in CFDs.

Traders can access the markets through the industry-standard MetaTrader 4 and 5 platforms, offering familiarity and a vast selection of customizable indicators and Expert Advisors (trading algorithms) downloadable from MQL4 and MQL5 communities.

So, how do you start trading on the LiteFinance broker? The first step is to open an account at LiteFinance. The following are the steps to open an account at LiteFinance.

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Review Start Trading

Website

www.litefinance.com

Established

2005

Leverage

1:500

Min Deposit

$50

Regulation

CySEC, SVGFSA

Key Features Extensive Review

Bonuses

Trading contests

VPS

Negative balance protection

Affiliate program

Interest rate on funds

Copy trading

Webinar

Swap

Low spread eur/usd

Islamic account

WebMoney

Skrill

Wire transfer

Neteller

QIWI

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.

How to Open a Live Account in LiteFinance

Getting started with LiteFinance is straightforward. Simply visit their website and follow the steps to open an account, allowing you to begin exploring the diverse trading opportunities offered. For more details, please follow the steps below.

1. Visit LiteFinance official website. To begin, please visit the LiteFinance official website and then click the start button or "Registration" in the top right corner.

2. Enter personal information. Please enter your personal information, starting with Name, Country, and date of birth.

3. Enter an active email. Next, please enter an active email and create a password with a minimum of 8 characters. Don't forget to checkmark the "I have read and agree to the Clients Agreement" box and click "CONTINUE".

4. Enter the verification code. You need to open the registered email to retrieve and enter the verification code sent by LiteFinance.

5. Download LiteFinance trading platform. The next step to start trading is downloading the trading platform to access the forex market. LiteFinance offers a choice of two types of trading platforms: MetaTrader 4 and 5. To download the trading platform, click the "METATRADER" menu on the left.

6. Choose a trading account. Next, select "OPEN ACCOUNT" and fill in the Account Type, Leverage, and Currency columns. Once everything is set, click "OPEN TRADING ACCOUNT".

If your trading account is successfully opened, it will appear as shown below.

7. The final step is to start trading. At this stage, you can trade using MetaTrader or the webtrader available on the LiteFinance client page. This time, we will demonstrate how to trade on the webtrader. To begin, select the "TRADE" menu and choose the pair you want to trade.

Then, you will be redirected to a page like this. In the right column, please select the "SELL" tab to open a sell position and the "BUY" tab to open a buy position, then adjust the lot size you want to use and click the "Buy/Sell" button to open a new position.

Which LiteFinance Account Suits You Best?

Ready to transition from demo trading to the real market experience? LiteFinance offers three account options tailored to different skill levels and trading strategies.

So, which LiteFinance trading account is suitable for you? Choosing the right account depends on your individual goals and experience level. Consider your risk tolerance, trading strategy, and desired level of control over your positions. The following is the full explanation.

Cent Account: Ideal for Beginners

• Get a taste of real trading: This account is perfect for new traders, allowing you to experience the thrill and challenges of real markets without risking significant capital. Deposits and transactions are denominated in cents, minimizing financial exposure while fostering a deeper understanding of trading psychology.
• Low minimum deposit: Start with a small deposit of just $10, making it accessible to anyone who wants to test the waters of real trading.
• Leverage up to 1:1000: This allows for amplified returns, but remember that it also magnifies potential losses. Use caution and practice responsible risk management.

Classic Account: Geared Towards Experienced Traders

• For those with established strategies: This account caters to traders with some experience and a defined trading strategy.
• Five-digit quotes and leverage up to 1:1000: Access tighter spreads and larger potential returns with this account. However, be mindful of the increased risk associated with higher leverage.
• Floating spreads: Spreads may fluctuate based on market conditions.

ECN Account: For Professionals and Experienced Traders

• Access to deep liquidity and low spreads: This account is designed for professional traders and those utilizing the Social Trading service.
• Market-leading execution with no re-quotes: Benefit from fast and reliable order execution, ensuring your trades are filled at the best available prices.
• ECN technology: Trade directly with other market participants, eliminating potential conflicts of interest.

Established in 2005, LiteFinance is an online broker headquartered in Cyprus. While regulated by CySEC, some users report the ability to register under a non-EU entity, potentially bypassing stricter ESMA leverage limitations.LiteFinance offers unique features, including a claimed 2.5% annual interest on ECN accounts and a social trading platform similar to a social media site, seamlessly integrated with their Member Area.