LiteFinance Review
💲 Min Deposit $50
⌛ Year Established 2005
💼 Regulation
💡 Min Position 0.01 lot
🌐 Website www.litefinance.com
🌎 Country
⚖ Max Leverage 1:500
💰 Bonuses
🏆 Trading contests
Negative balance protection
Copy trading
Webinar
Swap
Low spread eur/usd
🕋 Islamic account
🗺 Vps
LiteFinance is a well-established broker since 2005. LiteFinance has a headquarter in Cyprus. LiteFinance to provide their Forex/CFD trading services to global clients.
This broker has also been regulated by CySEC 093/08 (only LiteForex (Europe) Limited wwwliteforexeu) and SVGFSA 931 LLC 2021.
LiteForex, a trading name of LiteForex Investments Limited, was established in 2005 and registered in the Marshall Islands in September 2013.
The LiteForex's cent account was actually the first to offer a minimum deposit of just $1, enabling low-budget traders to have access to the real market. It also made the world's most liquid financial market accessible to countless traders from emerging markets with deposits of less than $100.
Over the past fifteen years, LiteForex has expanded its range of services and added assets, as well as offering a variety of attractive trader bonuses. However, LiteForex's achievements do not stop there. The broker has been included in the World Finance 100 list by World Finance magazine.
Extensive Review
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.
Account Information
Apart from the forex demo account, this broker offers ECN (EU), ECN, Classic (EU) and Classic. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by LiteFinance is up to 1: 500. Meanwhile, you can open an account with a starting capital of $50.
There are 4 main accounts available at LiteForex:
- Classic: Classic traders have to deposit a minimum of $50 with trading volume from 0.01 lots in return for variable spreads. Advanced traders may benefit from this account which provides scalping capability, Expert Advisors, trailing stop, pending orders, one-click trading, mobile trading, and automated trading.
- ECN: Traders are able to deposit a minimum of $50 with a minimum trade volume of 0.01 lots. Spreads are variable while supporting scalping technique, trailing stop, pending orders, one-click trading, mobile trading, and automated trading.
- ECN (EU): The minimum deposit is $50 and the minimum trade volume is 0.01 lots. Clients can enjoy variable spreads from 0.0, advanced tools like trailing stop, pending orders, one-click trading, mobile trading, and automated trading.
- Classic (EU): Besides offering variable spreads, Classic EU also supports hedging, trailing stop, pending orders, one-click trading, mobile trading, and automated trading. The minimum deposit for this account is $50 with order volumes from 0.01 lots.
Min Deposit
$50
Max Leverage
1:500
Spread
Variable
Commission
$5
If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:
💲 Min Deposit $50
💡 Min Position 0.01 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission
Fees
LiteForex offers ECN spreads as low as 0.0 pips on EURUSD for a commission of $10.00 per lot. It may increase to $30.00 per lot, depending on the currency pair. Commodity CFDs cost between $0.50 and $20.00, cryptocurrencies $0.50, and equity CFDs $0.25 per share. The commission-free Classic account shows elevated floating spreads from 1.8 pips.
Other fees to be aware of include swap rates on overnight and corporate actions like dividends, splits, and mergers that impact equity and index CFDs. The client agreement notes no inactivity fees, which most brokers do charge, and LiteForex waives all deposit and withdrawal fees. Traders can also see a library of the broker's past spreads.
Instruments Traded
Besides lots of currency pair, LiteFinance also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD, Oil, Stock and Commodities for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
LiteForex offers popular trading assets, including:
- 56 currency pairs
- six commodities
- 16 cryptocurrencies
- 37 US-listed equity CFDs
- 11 index CFDs
As for ECN (EU) account, LiteFinance specifically provides it with the following instruments and leverage:
💲 Min Deposit $50
💡 Min Position 0.01 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission $5
Fees
LiteForex offers ECN spreads as low as 0.0 pips on EURUSD for a commission of $10.00 per lot. It may increase to $30.00 per lot, depending on the currency pair. Commodity CFDs cost between $0.50 and $20.00, cryptocurrencies $0.50, and equity CFDs $0.25 per share. The commission-free Classic account shows elevated floating spreads from 1.8 pips.
Other fees to be aware of include swap rates on overnight and corporate actions like dividends, splits, and mergers that impact equity and index CFDs. The client agreement notes no inactivity fees, which most brokers do charge, and LiteForex waives all deposit and withdrawal fees. Traders can also see a library of the broker's past spreads.
Instruments Traded
Besides lots of currency pair, LiteFinance also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD, Oil, Indexes, Crypto, Stock and Commodities for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
LiteForex offers popular trading assets, including:
- 56 currency pairs
- six commodities
- 16 cryptocurrencies
- 37 US-listed equity CFDs
- 11 index CFDs
As for ECN account, LiteFinance specifically provides it with the following instruments and leverage:
💲 Min Deposit $50
💡 Min Position 0.01 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
💱 Hedging
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission
Fees
LiteForex offers ECN spreads as low as 0.0 pips on EURUSD for a commission of $10.00 per lot. It may increase to $30.00 per lot, depending on the currency pair. Commodity CFDs cost between $0.50 and $20.00, cryptocurrencies $0.50, and equity CFDs $0.25 per share. The commission-free Classic account shows elevated floating spreads from 1.8 pips.
Other fees to be aware of include swap rates on overnight and corporate actions like dividends, splits, and mergers that impact equity and index CFDs. The client agreement notes no inactivity fees, which most brokers do charge, and LiteForex waives all deposit and withdrawal fees. Traders can also see a library of the broker's past spreads.
Instruments Traded
Besides lots of currency pair, LiteFinance also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD, Oil, Stock and Commodities for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
LiteForex offers popular trading assets, including:
- 56 currency pairs
- six commodities
- 16 cryptocurrencies
- 37 US-listed equity CFDs
- 11 index CFDs
As for Classic (EU) account, LiteFinance specifically provides it with the following instruments and leverage:
💲 Min Deposit $50
💡 Min Position 0.01 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission
Fees
LiteForex offers ECN spreads as low as 0.0 pips on EURUSD for a commission of $10.00 per lot. It may increase to $30.00 per lot, depending on the currency pair. Commodity CFDs cost between $0.50 and $20.00, cryptocurrencies $0.50, and equity CFDs $0.25 per share. The commission-free Classic account shows elevated floating spreads from 1.8 pips.
Other fees to be aware of include swap rates on overnight and corporate actions like dividends, splits, and mergers that impact equity and index CFDs. The client agreement notes no inactivity fees, which most brokers do charge, and LiteForex waives all deposit and withdrawal fees. Traders can also see a library of the broker's past spreads.
Instruments Traded
Besides lots of currency pair, LiteFinance also offers some instruments you would like to trade on, such as Oil, Indexes, Stock and Commodities for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
LiteForex offers popular trading assets, including:
- 56 currency pairs
- six commodities
- 16 cryptocurrencies
- 37 US-listed equity CFDs
- 11 index CFDs
As for Classic account, LiteFinance specifically provides it with the following instruments and leverage:
Payment Methods
Accepted payments include bank wires, credit/debit cards, Skrill, Neteller, Perfect Money, QIWI, Boleto Bancario, Yandex, M-Pesa, Africa Mobile Money, WebMoney, AdvCash, AliPay, Bitcoin, Ethereum, Bitcoin Cash, Bitcoin Gold, Litecoin, and Monero.
LiteForex reimburses traders for all deposit fees although $10 minimum amounts for financial transactions may applicable, except for bank wires, where they are $100.
Several payment methods are available offering prompt processing:
WebMoney : WebMoney is one of the major online wallet services which many people use to send money around the world. For this reason, there is a large number of forex brokers that accept WebMoney today. Like other online payment services today, WebMoney is supported by mobile applications to make transactions more efficient.
Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.
Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.
QIWI : Qiwi is an e-wallet or electronic payment service provider from Rusia that is introduced in 2007. The service is mainly used by individuals and businesses in Russia, Ukraine, Kazakhstan, Moldova, Belarus, Romania, the US, and the UAE.
Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.
LiteFinance also provides payment with YooMoney, Wallet One, Tether (USDT), Ripple, Perfect Money, Monero, Mobile network operators, M-Pesa, Litecoin, Ethereum, Crypto Cash, Crypto, Credit/debit cards, AliPay and AdvCash
Trading Platforms
Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.
Hereby, LiteFinance offers you MetaTrader 4, MetaTrader 5, WebTrader, Social trading and cTrader.
- MT4: This is one of the most popular trading platforms for novice traders or professionals. The platform is packed with advanced trading features, including over 50 built-in indicators and graphical objects, 9 timeframes, plus full trading history.
- MT5: The MT5 platform is more feature-rich and is ideal for experienced traders. The platform offers a wider range of more technical indicators, more timeframes, a full set of order types, an economic calendar, and a depth of liquidity tool.
- Webtrader: The platform requires no installation. Web users have the same access to real-time quotes, charting tools, and trading history directly from their browser. Its compatibility with any operating system makes Webtrader a great option once you have your account login details.
Unique Features
LiteForex provides a reasonable range of unique features:
- Automatic withdrawals in less than 24 hours are limited to $100, while traders from Kenya and Tanzania may withdraw up to $2,000 per day.
- Supports Skrill, Neteller, and Perfect Money.
- LiteForex also offers an in-house hosted solution virtual private server (VPS) service for $15 per month.
- LiteForex has integrated social trading into its offering for retail account managers and signal providers seeking an additional revenue model.
Research and Education
LiteForex's extensive range of research and education:
- A combination of in-house research and third-party analytics by Claws & Horns offer traders comprehensive independent analytics, market coverage, and trading idea.
- The analytics tab consists of technical and fundamental analysis.
- The Economic News section covers relevant releases in short format, and the blog adds numerous trading ideas and educational content.
Bonuses and Promotions
At the time of writing, LiteForex promoted:
- A contest for video bloggers to create content using the LiteForex website and to promote it on YouTube with a prize pool of $1,000.
- Monthly demo contest worth $10,000 in real cash.
- Payment system fee reimbursements where you can make a deposit into a trading account and LiteForex will reimburse you for the deposit fee.
Customer Support
Do you have any question or find any trouble related to LiteFinance? If you do, you should reach LiteFinance's support to get the information that you need. Here is the detail of the broker's customer support:
Multilingual support is provided. The customer support team can be contacted through live chat or e-mail 24/5 and phone call 12/5. The FAQ section answers the most common questions. Traders are unlikely to require any assistance, as this broker explains most aspects well.
Website Languages
Office Support
Email Support
Call Support
Chat Support
FAQ About LiteFinance
A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if LiteFinance is a good broker for you or not by reviewing the criteria. In general, LiteFinance provides trading service in Forex , Gold & silver , CFD , Oil , Stock, Commodities , Indexes , Crypto and Oil . As for the payment methods, you can choose between WebMoney, Skrill, Wire transfer, Credit/debit cards, YooMoney, Neteller, QIWI, Perfect Money, AliPay, Crypto, Wallet One, Litecoin, Ethereum, Monero, Crypto Cash, AdvCash, Ripple, Tether (USDT), Mobile network operators and M-Pesa. The customer support is available via Email, Phone, Callback, Live chat and Forum.
The starting capital in LiteFinance is $$50.
LiteFinance is regulated by CySEC 093/08 (only LiteForex (Europe) Limited wwwliteforexeu) and SVGFSA 931 LLC 2021. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.
LiteFinance is a brokerage company offering trading services for clients since 2005 with offices in Cyprus.
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