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LiteFinance Broker Review (LiteForex) 2024

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LiteFinance Broker Review (LiteForex) 2024
Copy Trading Mobile Trading Tournaments
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Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!

Overview
Company:LiteFinance
Founded:Cyprus
Min Deposit:50
Max Leverage:1000
Headquarter:Cyprus
US Accepted:
About
LiteFinance is a Cyprus-based brokerage company offering 300+ markets through Classic and ECN accounts with fixed commissions and tight spreads from 0.0 pips. LiteForex provides access to MetaTrader 4/5, cTrader, a proprietary mobile app, and a dedicated social trading platform.
Contact
30 Spyrou Kyprianou, 1st Floor, Germasogeia, 4040, Limassol, Cyprus
Rank and Score
Pros and Cons
Account Types
Platforms
Pros
Regulated by CySEC
Extensive platform options (MT4, MT5, cTrader)
Competitive spreads and fast execution
Wide range of trading instruments
Cons
Low leverage options compared to other competitors
Lack of 24/7 support
Limited account types

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?

Weā€™ll 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

LiteFiance
Award-winning broker titled the ā€œBest ECN Broker in Asia 2023ā€ and the ā€œBest Forex Brokerage Company in MENA 2023ā€

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:

  1. Visit the brokerā€™s official website at ā€œhttps://www.litefinance.org/ā€;
  2. Click ā€œRegistrationā€;
  3. Provide personal information like country of residence, birth date, and email;
  4. Verify your email via the activation link sent to your inbox;
  5. Provide proof of identity (passport or driverā€™s 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 assetā€™s 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

LiteForex Broker Payment Options
You can use the local representative of LiteForex to fund your account with no commission and a minimum amount of $1

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 brokerā€™s 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 theyā€™re associated with the clientsā€™ money. LiteForex prioritizes 24/5 support by offering comprehensive contact channels, including:

Email

clients@litefinance.com

Live Chat

Available on the official website

Skype

Message

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.

TrustPilot

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.

FAQs

Is LiteFinance regulated?

The Cyprus Securities and Exchange Commission (CySEC) and the Mauritius Financial Services Commission (FSC) regulate the broker.

What trading platforms can I use?

The robust MetaTrader 4, MetaTrader 5, cTrader, and a proprietary mobile trading app.

What is the minimum deposit?

You can open a Classic or ECN account with a minimum deposit of $50.

Does LiteFinance offer copy trading?

The broker provides a social trading platform where users can copy trades from successful traders.

Can US residents open an account with LiteFinance?

Clients from the US, EEA, Japan, Russia, and Israel are not allowed to trade with the broker.

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