LiteFinance provides trading services like ECN/STP accounts with access to over 300 financial instruments, from Forex to Stocks. What are the trading costs and conditions on LiteForex?
Weāll explore the account types, trading assets, commission, spreads, trading platforms, investment options, copy trading, payment options, and many more in this LiteFinance review.
LiteFinance: An Introduction to the Company and Its Regulatory Status
LiteFinance, formerly known as LiteForex, has been providing access to various markets, such as Currency pairs, Stocks, and Metals, since July 2005. The company's longevity in this competitive sector speaks volumes about its reliability and adaptability. Key Points about LiteForex:
- Regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Mauritius Financial Services Commission (FSC);
- Offices in 15 countries, including St. Vincent & the Grenadines and Cyprus;
- The first broker with $1 Cent accounts;
- Over 3.01M clients worldwide;
- Average daily trading volume of $24B;
- 24/5 customer support in 15 languages.
LiteFinance Broker Specifications
The company has established itself as a stable and innovative broker in the Forex trading industry. Here's a table summarizing the key specifications of LiteFinance.
Broker | LiteFinance (LiteForex) |
Account Types | CLASSIC, ECN |
Regulating Authorities | CySEC, FSC |
Based Currencies | USD, EUR |
Minimum Deposit | $50 |
Deposit Methods | Credit/Debit Cards, Bank Wire, STICPAY, Perfect Money, Africa Mobile Money, Volet |
Withdrawal Methods | Credit/Debit Cards, Bank Wire, STICPAY, Perfect Money, Africa Mobile Money, Volet |
Minimum Order | 0.01 lots |
Maximum Leverage | 1:1000 |
Investment Options | Copy Trading |
Trading Platforms & Apps | MT4, MT5, cTrader, Mobile App |
Markets | Currency, Commodities, Indices, Stocks |
Spread | CLASSIC from 1.8 points ECN from 0.0 points |
Commission | Classic $0.0 ECN from $0.25 per lot |
Orders Execution | Market |
Margin Call / Stop Out | 100% / 20% |
Trading Features | Mobile Trading, Copy Trading, Tournaments |
Affiliate Program | Yes |
Bonus & Promotions | Trade Smart Challenge, ZERO Fees |
Islamic Account | Yes |
PAMM Account | Yes |
Customer Support Ways | Email, Live Chat, Telegram, Skype |
Customer Support Hours | 24/5 |
LiteFinance Account Types
The broker offers two primary account types to cater to trading styles and preferences: ECN and CLASSIC.
Features | CLASSIC | ECN |
Min Deposit | $50 | $50 |
Base Currency | USD, EUR | USD, EUR |
Spreads | From 0.0 points | From 1.8 points |
Commission | None | From $0.25 per lot |
Max Leverage | 1:1000 | 1:1000 |
Copy Trading | Available | Available |
Min Order Size | 0.01 lots | 0.01 lots |
Margin Call | 100 | 100 |
Stop Out | 20 | 20 |
LiteFinance Registration and KYC Verification
We must discuss the KYC verification in this LiteFinance review. the broker maintains a robust anti-money laundering (AML) and know-your-customer (KYC) policy to ensure compliance with international standards and protect its platform's integrity. Steps to open an account on LiteForex:
- Visit the brokerās official website at āhttps://www.litefinance.org/ā;
- Click āRegistrationā;
- Provide personal information like country of residence, birth date, and email;
- Verify your email via the activation link sent to your inbox;
- Provide proof of identity (passport or driverās license) and proof of address (utility bill or bank statement).
LiteForex Broker Trading Platforms
The company offers a comprehensive suite of trading platforms, from MT4 to proprietary mobile app, to cater to various trader preferences and needs.
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Proprietary Mobile App
The broker offers a full suite of features as mobile apps, including LiteFinance Partner, Forex Analysis, Forex Signals, Trading Strategies, Currency Rates, and Economic Calendar.
LiteFinance Fees and Commissions
The company utilizes the ECN technology and provides some of the tightest spreads in the market. LiteForex offers competitive fee structures across its various account types.
Account Type | Commission (per lot) | Spreads |
CLASSIC | None ($0.0) | Floating from 1.8 points |
ECN | FX Major $5 FX Crosses $5 FX Minor $6 Metals $5 Oil $0.5 Share CFDs 0.1% of assetās market price Stock Indices $3.5 per contract | Floating from 0.0 points |
The company charges an inactivity fee of $10 for dormant accounts (no trades in 3 months) and archives it in 40 calendar days after the balance reaches zero.
LiteFinance Deposit/Withdrawal Options
The broker provides a wide array of deposit and withdrawal methods to ensure convenient fund management for traders.
Method | Min Amount | Commission |
VISA/MasterCard | $10 | 0% |
Bank Wire | $100 | 0% |
STICPAY | $10 | 2.5% + $0.3 |
Perfect Money | $10 | 0% |
Volet | $10 | 0% |
Africa Mobile Money | $10 | 4.5% |
The company compensates traders for the deposit fee they have to pay to 3rd party payment systems, except for the Africa Mobile Money method.
LiteFinance also offers an auto withdrawal feature that allows you to withdraw up to $5,000 per day through various payment systems, including Credit cards, bank transfers, Neteller, Skrill, UnionPay, and Crypto (BTC, ETH, and more).
Does LiteForex Have Copy Trading or any Growth Plans?
Investment plan is one of the most attractive topics in this LiteFinance review. the broker offers a robust Forex social trading platform, allowing clients to benefit from the experience of successful traders. Key features of the LiteFinance Copy Trading:
- Automated system for duplicating trades;
- Social trading platform to communicate with other investors and strategy providers;
- Top Traders with profitability up to %37,000.
LiteFinance Bonus and Promotions
The broker offers several attractive bonuses and promotions to enhance the trading experience, including:
- Trade Smart Challenge: 50% credit on client investments for smart trading available only on ECN accounts;
- Return of Commission with Zero Fees: Reimbursement of payment system commissions on deposits;
- Affiliate Programs: 70% commission of the brokerās profit on your referred clients;
- Contests: Seasonal tournaments for traders and partners;
LiteFinance Broker Customer Support
Customer support is the heart of any online business, especially trading services providers, since theyāre associated with the clientsā money. LiteForex prioritizes 24/5 support by offering comprehensive contact channels, including:
clients@litefinance.com | |
Live Chat | Available on the official website |
Skype | |
Telegram | https://t.me/LiteFinanceSupport |
LiteForex Broker Trust Scores
When providing a complete LiteFinance review, it's crucial to consider user reviews and trust scores from various platforms.
4.4 out of 5.0 based on 275 ratings | |
Forex Peace Army | 2.3 out of 5.0 based on 223 reviews |
Reviews.io | 3.5 out of 5.0 based on 28 comments |
Conclusion and Final Words
LiteFinance has a long history in the Forex and CFD trading industry. The company offers a comprehensive suite of trading tools, such as Copy Trading, trading strategies, and Indicators.
LiteForex provides its services through the robust MT4, MT5, and cTrader platforms alongside a dedicated mobile trading app for Android and iOS. Share your thoughts about the LiteFiance review in the comments.
