Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

LiteFinance Review

3.74
34 reviews
PAYMENT SYSTEMS
  • Deposit
  • Withdrawal

LiteFinance general information

Founded in: 2005 year
Headquarters:
Saint Vincent and the Grenadines
Offices in the country:
Afghanistan, Vietnam, Ghana, Egypt, Indonesia, Iran, Kenya, Kyrgyzstan, Malaysia, Morocco, Nigeria, Singapore, Thailand, Philippines
Minimum Deposit: 50 $
Website: www.litefinance.org
Website languages:
English, Arab, Vietnamese, Indonesian, Spanish, Italian, Malay, Deutsch, Polish, Portuguese, Russian, Thai, Philippine, French
Execution model:
ECN
Deposit currency: USD, EUR, GBP, CHF
Support languages:
English, Arab, Vietnamese, Spanish, Portuguese, Russian
Mobile trading: iOS, Android
Types of offered accounts:
Unlimited Demo Accounts, Demo accounts (with a time limit), Standard Accounts, ECN accounts, Swap free accounts
Affiliate program: 1
Deposit bonus: 100 %
Bonus CRYPTO 100%

LiteFinance Forex broker description

Pros

  • 24-hour support

  • Supports MetaTrader 4 and MetaTrader 5 and their mobile and web versions

  • Variety of deposit/withdrawal methods

  • Offers the latest analytical materials from Claws & Horns

  • Supports copy trading

Cons

  • VPS is not free of charge

  • A limited selection of tradable instruments

  • Unavailable to US retail clients



Unique Selling Points

  1. Best forex trading broker for beginners with low budget

  2. Low Minimum Deposit Requirement: Traders can begin trading activities by depositing as low as $50. Beginners looking to reduce their financial exposure can use the cent account, which requires as low as a $10 initial deposit.

  3. Variety of deposit/withdrawal methods: LiteFinance offers a variety of payment options for deposits and withdrawals. These include electronic payment systems, bank transfers, and credit cards.

  4. Social network (for Forex copy trading): Beginners and passive investors can communicate with accomplished traders worldwide via the social network and comp their traders using the Forex copy trading feature. Successful traders can also earn extra commissions when other traders copy their trades.


Introduction

LiteFinance, previously known as LiteForex, is an international forex and CFD broker focused on offering tradable instruments of different asset classes ranging from Forex to spot stocks and stock CFDs. On many LiteFinance broker reviews, the broker ranks as one of the best forex brokers.

The trader supports the core MT4/MT5 trading platforms and offers traders mobile trading apps. Other features include quality third-party research in partnership with Claws & Horns and its proprietary copy-trading platform.

Beginners and pro traders benefit from the three account types: ECN, classic, and Cent. The ECN is perfect for experienced traders, the Classic for regular traders, and the Cent account for beginners who want to try forex trading with minimal risks. 

This LiteFinance broker review further explains all you need to know to decide if the broker offers a competitive and trustworthy trading environment suitable for your trading needs and experience level.


Supported Countries

The LiteFinance website is owned and operated by the LF Global group of companies, which include LiteFinance Global LLC and Liteforex (Europe) LTD. LiteFinance Global LLC is located in St. Vincent & the Grenadines and incorporated as a Limited Liability Company with registration number 931 LLC 2021. It does not provide service to residents of the USA, Israel, Russia, Japan, and the EEA countries.

Liteforex (Europe) LTD is a registered Cyprus Investment Firm (CIF) regulated by the Cyprus Securities and Exchange Commission (CySEC). Residents of European countries can use services offered by Liteforex (Europe) LTD.


Customer Service Rating

LiteFinance is rated "average" on Trustpilot with a 2.9 rating based on 18 reviews. The "average" rating shows that many clients consider their services satisfactory. 

One user was particularly interested in webinars designed for traders. The webinars offer trading lessons and teach traders how to analyze trades and set up trading strategies. Others complimented the broker on the excellent training condition they offer traders, competitive commission, and user-friendly interface.

The negative reviews focused on withdrawal issues. Impressively, the LiteFinance customer team was on the ground to respond to these negative reviews. Judging from the reviews (negative and positive), LiteFinance is worth a trial. 


LiteFinance Trading Platforms

LiteFinance broker supports the web and mobile versions of the popular MetaTrader 4 and MetaTrader 5 platforms. They also offer mobile apps for iOS and Android. Here is a brief review of these trading platforms.

  • MetaTrader 4: MT4 is a trader's favorite Forex trading and analysis platform. It supports trading currency pairs, shares, precious metals, and CFD on stock indices. LiteFinance provides free support for the MetaTrader 4 platform for all its customers. Clients can download the platform on mobile and desktop devices such as iPhones, iPads, tablets, android smartphones, windows PC, and Mac computers. It is suitable for all LiteFinance trading accounts.

  • MetaTrader 5: The MT5 trading platoon is the upgraded version of the popular MetaTrader forex trading platform. It offers an enlarged set of tools and increased functionality. The platform is available for both desktop and mobile devices. Traders can download the platform for free on Android smartphones, iPhones, PCs, tablets, iPads, and Mac devices. The MetaTrader 5 (MT5) trading platform suits CENT and CLASSIC accounts.

  • LiteFinance Forex Trading App: The forex trading apps are available for Android and iOS. LifeFinance offers these apps free of charge. Traders can use the app to analyze trades, get trading signals, and develop trading strategies on smartphones or tablets. The apps support more than 8 languages, and the broker constantly adds new language support. Other app features include filters for information and analytical support for currency pairs, oils, CFDs, metal, and stock CFDs


Type of Trading Accounts on LiteFinance

LiteFinance offers three types of accounts: ECN for experienced traders, Classic for regular traders, and Cent for beginners. They also offer Islamic (swap-free) versions of these accounts and demo trading accounts for beginners and those who want to test their trading strategies.

  • ECN: The ECN is the recommended account for pro traders. Its key features include 2.5% interest per annum on unused funds in your account, a $50 minimum deposit, and up to 1:100 leverage. It uses modern ECN technology to offer improved precision and direct access to the best market prices. Other features include fast market order execution (with no requotes), zero stop and limit levels, unlimited duration of transactions, and support for scalping and news trading. It also supports social trading for those who want to copy the trades of other successful traders or allow others to copy their trades. 

  • Classic: The classic trading account offers up to 1:1000 leverage and only requires a $50 minimum deposit. It is an excellent trading account for experienced and beginner traders ready to start trading significant capital. It offers fast market order execution (and no requotes), increased quoting precision, and no stop and limit levels. Its floating spread is designed to make it competitive for traders with extensive trade experience and a proven trading strategy.

  • Cent: The cent account is designed for beginners who want to wean off demo trading. It allows novice traders to trade in micro lots, eliminating the need for massive deposits. The minimum deposit for the Cent account is only $10; traders can get up to 1:200 using this account. Anyone looking to understand the psychology of trading using real money should use the cent account. It is a low-risk way to profit from the forex market and learn to handle challenges.

  • Demo Accounts: LiteFinance offers demo accounts to beginners and traders who want to test out strategies. The demo account replicates real-time market conditions and real-time prices so traders can learn how their trading strategy would fare in live trading situations. CENT accounts are available on demand to clients from Afghanistan, Brunei, Ghana, Iran, Malaysia, Nigeria, Philippines, Thailand, and Tanzania. Clients from other counties can also get a cent account by requesting via the company's representatives.

  • Islamic Accounts: Traders who do not want swaps on their accounts can require Islamic accounts. Islamic accounts are available for the ECN, Classic, and Cent accounts. The only difference is that these Islamic accounts do not attract swap fees. Other conditions remain the same.


Trading Denominations on LiteFinance

The base currencies for all LiteFiance trading account types are USD and EUR. Deposits made with other currencies (fiat and cryptocurrencies) will be converted into any of these two currencies. Ghana, Nigeria, and Myanmar clients can have their accounts denominated in local currencies.


Company Structure

LiteFinance, formerly LiteForex, is owned and operated by the LF Global group of companies. The LF Global group of companies is an international conglomerate offering clients trading services. Its two subsidiaries are LiteFinance Global LLC and Liteforex (Europe) LTD.

The LiteFinance Global LLC subsidiary is located in St. Vincent & the Grenadines and is also incorporated as a Limited Liability Company. LiteFinance Global LLC does not offer trading services to European Economic Area (EEA) residents, such as EU countries and Iceland, Liechtenstein, and Norway. The company also restricts its services to traders and investors from the USA, Israel, Russia, Japan, and other countries.

Liteforex (Europe) LTD, a Europe-friendly company, is a registered Cyprus Investment Firm (CIF) under the Cyprus Securities and Exchange Commission (CySEC) regulation. Clients that trade with Liteforex (Europe) LTD have their funds insured by the Investor Compensation Fund. 

LiteFinance Licenses and Regulatory Compliance

Liteforex (Europe) LTD is located in Cyprus and licensed by CySEC with license number 093/08 in compliance with the Markets in Financial Instruments Directive (MiFID)


LiteFinance Customer Protection 

The Investor Compensation Fund insures all clients' funds are within the control of the Liteforex (Europe) LTD subsidiary.


Trading Information

LiteFinance broker provides its clients with a set of robust trading instruments and various deposit and withdrawal options under advantageous conditions of margin trading,


Tradable Instruments

Tradable instruments on LiteFinance trading platforms include

  • 50+ Currency Pairs

  • 5+ Commodities

  • 10+ Stock indices

  • 100+ Stock CFDs


LiteFinance Leverage

LiteFinance offers as much as 1:1000 leverage. The exact leverage size that a client gets depends on their account type. 

Clients using the classic and ECN accounts can get leverage from 1:1 to 1:1000. Clients using the cent account are limited to a maximum of 1:200 leverage. Clients can adjust their leverage size from the corresponding option in the "Metatrader" section.


Deposits and Withdrawals on LiteFinance

The LiteFinance company offers multiple payment methods for depositing into Forex accounts and withdrawing profits. These methods include international e-payment systems, bank cards, wire transfers, and other methods.

Deposits

LiteFinance offers an impressive range of deposit methods for convenient Forex trading. The broker doesn't charge commissions for deposits. However, you may have to pay a transfer fee to the payment systems you use to top up your trading account. In most cases, LiteFiancne will reimburse the client for any deposit fees charged by payment systems.

Deposit Method

Commission

Minimum Deposit

Credit card

0%

$10

Local Deposit

0%

$1

Deposit by bank wire

0%

$100

Perfect Money

0%

$10

Boleto Bancario

0%

$10

M-Pesa Kenya

0% + 100 KES

$1

M-Pesa Tanzania

0% + 2000 TZS

$1

Africa Mobile Money

4.5%

$10

AliPay

0%

$10

Bitcoin Cash (BCH)

0%

$10

Bitcoin

0%

$10

Ethereum (ETH)

0%

$10

Litecoin

0%

$10

Monero (XMR)

0%

$10

Ripple

0%

$50


Withdrawals

In line with LiteFinance AML policy, clients can only withdraw funds to the same purse and currency used to top up the account. Afterward, they may withdraw the remaining fund using a different payment system. So, if a trader tops up using Perfect Money, they can only withdraw using another payment system after they have withdrawn the initial deposit money that they deposited using Perfect Money.

Withdrawal requests are processed manually within 1 working day from the date of request by the Financial Department. All withdrawal requests are processed during working hours on a first-come, first-serve basis. 

International money transfers to a bank card can take up to 14 business days from the date of transfer. But most clients typically receive their funds within 3-5 days.

Note that withdrawals below 1 USD are not accepted by LiteFinance operators.


LiteFinance Trading Education and Training

LiteFinance offers a variety of tools and resources to help novices and beginner traders learn and apply the terms and concepts of the Forex world. These include

  • Trading blog for beginners: The blog contains professional articles and research to help beginners learn the basics of trading and start earning from financial markets. The resources are created by practicing, experienced LiteFinance traders. Regular topics include trading strategies, charts and indicators, valuable tips, and advice on money and risk management. Analysts' opinions and market forecasts: This resource is devised to help traders access fundamental and technical analysis for financial markets such as forex, commodities, and stocks. Professional analysts do the market analysis daily and present it in text and video formats. 

  • Forex glossary: This glossary contains helpful definitions and extra information on the most searched and used forex trading terms like ask-bid, and Forex Volatility. It is a perfect tool for anyone new to the concept of forex trading and also an excellent refresher for experienced traders.

  • Library of Forex strategies: LiteFinance offers a free library of trading systems created by experienced traders free with detailed descriptions. The collection includes intraday Forex strategies and medium-term trading systems so you can know which strategy meets your preferences and will help make your Forex trading as efficient as possible.

  • Forex books: There is a selection of books written by Forex traders on the website for LiteFinance's traders. The broker selects books to help clients understand trading psychology and money management and discover new technical and fundamental market analysis facets.

  • Forex webinars: LiteFinance offers online seminars on the theory and practice of the Forex market. The hosts are veteran traders with over 5 years of trading experience. The webinars help traders make confident trading decisions, receive clear answers to the most challenging questions online and understand essential trading notions. Clients who miss the live sessions can still learn by accessing the archive webinars.


FAQs

Is LiteFinance a Scam?

No. LiteFinance is not a scam because it is registered per all legal requirements and regulations. The broker's compliance is subject to external audits, and many expert financial publications recommend them for providing reliable brokerage services.

How do I open a LiteFinance forex trading account?

Visit LiteFinance and select Registration" from the menu at the top of the page. 


Conclusion

LifeFinance is an excellent forex and CFD broker to trade with because they are officially registered and have a license to provide financial services. They also support the popular MetaTrader platforms and offer their mobile apps to traders.

The broker has been in business since 2005, when it first launched as LiteForex, and has grown its client base and reputation over the decades. With competitive commissions, free deposits/withdrawals, and up to 1:1000 leverage, the broker is worth giving a trial. 

Trading accounts of LiteFinance

  • CLASSIC
  • ECN
Trading platforms: MetaTrader 4, MetaTrader 5
Minimum Deposit : 50 $
Deposit currency :
USD - US Dollar
EUR - Euro
GBP - British Pound
CHF - Swiss Franc
Trading instruments:
Forex1:1000
Cryptocurrencies
Stop Out:
20 %
Minimum position size:
1 лотов
Maximum position size:
100 лотов
Max. number of orders:
Execution type:
Instant Execution
Swap Free:
Yes
VIP Account:
No
Spread type:
Fixed
Decimal places:
4 characters
Margin Call:
50 %
Speed ​​of execution:
0.001 sec.
Commission:
Not
Phone trading:
Yes
Trading platforms: MetaTrader 4
Minimum Deposit : 50 $
Deposit currency :
USD - US Dollar
EUR - Euro
GBP - British Pound
CHF - Swiss Franc
Trading instruments:
Forex1:1000
Cryptocurrencies
Stop Out:
20 %
Minimum position size:
0.01 лотов
Maximum position size:
100 лотов
Max. number of orders:
Execution type:
Market Execution
Swap Free:
Yes
VIP Account:
Yes
Spread type:
Floating
Decimal places:
4 characters
Margin Call:
100 %
Speed ​​of execution:
0.001 sec.
Commission:
Not
Interest rate:
7.5 % per year
Phone trading:
Yes

Monitoring of LiteFinance's ECN account

LiteFinance spreads All spreads LiteFinance

Enable data feed
EUR/USDGBP/USDUSD/CHFUSD/CADUSD/JPYAUD/USDNZD/USDEUR/AUD
Live spread

N/AN/AN/AN/AN/AN/AN/AN/A
Average spread
for the past
30 days
Average spreadInterval:
N/AN/AN/AN/AN/AN/AN/AN/A

LiteFinance quotes All quotes LiteFinance

Enable data feed
EUR/USDGBP/USDUSD/CHFUSD/CADUSD/JPYAUD/USDNZD/USDEUR/AUD
Ask
N/AN/AN/AN/AN/AN/AN/AN/A
Offers
N/AN/AN/AN/AN/AN/AN/AN/A

LiteFinance swaps All swaps LiteFinance

EUR/USDGBP/USDUSD/CHFUSD/CADUSD/JPYAUD/USDNZD/USDEUR/AUD
Long
-9.57-4.51.850.5-11.5-0.1-0.2-19.46
Short
2.12.25-6.8-3.63-2.5-34.81

Contacts of LiteFinance

Headquarters
St. Vincent and the Grenadines , KingstownJames Street, First St Vincent Bank Ltd Building,
show on the map

Recent customer reviews of LiteFinance

Guru Trader 08 August 2023

Advantages: Low spread

Disadvantages: Low number of cryptocurrency

Comment: Glad to trade hear, commissions low. Can trade with cryptocurrency on profitable conditions. Hope number of crypto instruments will increase

Comment
Add a COMMENT
Paul Bieber 30 January 2023

Advantages: -

Disadvantages: Der erste Nachteil ist die Spanne. Sie mag gering erscheinen, aber mit der Zeit kann sie zunehmen und Ihre Geschäfte weniger profitabel machen, als sie sein sollten. Der andere Nachteil ist die Hebelwirkung. Die Hebelwirkung ermöglicht es Ihnen in der Regel, sich von Ihrem Broker Geld zu leihen, um Ihre Kaufkraft beim Margenhandel zu erhöhen, d. h. Sie können mehr Anteile eines Vermögenswerts kaufen, als wenn Sie nur Bargeld aus Ihrem eigenen Guthaben verwenden. Dies erhöht jedoch auch das Risiko, da die Verluste im Verhältnis zu den Gewinnen höher sind, wenn die Dinge schlecht laufen (und umgekehrt).

Comment: Es ist wichtig, alle Nachteile dieses Brokers zu berücksichtigen und dabei Spread, Hebelwirkung, Liquidität, Handelsinstrumente, Handelsbedingungen, technische Unterstützung, benutzerfreundliche Schnittstelle und Sonderangebote zu berücksichtigen.

Comment
Add a COMMENT
Dennis Gerstle 27 January 2023

Advantages: Der größte Vorteil dieses Brokers ist, dass er so viele verschiedene Arten von Handelsplattformen anbietet: Web, Mobile (iOS und Android) und Desktop. Außerdem gibt es verschiedene Arten von Handelskonten - von einfachen bis hin zu fortgeschrittenen Konten - so dass für jeden etwas dabei ist.

Disadvantages: Der einzige Nachteil ist, dass Sie, wenn Sie auf einer Webplattform handeln möchten (oder ein Basiskonto verwenden), zunächst die App auf Ihr Telefon oder Ihren Computer herunterladen müssen, bevor Sie sich anmelden können. Es ist nicht ideal, wenn Sie zu Hause oder am Arbeitsplatz nicht jeden Tag Zugang zu einem dieser Geräte haben.

Comment: Ich nutze den Makler jetzt seit etwa einem Jahr und habe ziemlich gute Erfahrungen mit ihm gemacht. Sie haben viel zu bieten, es gibt viele verschiedene Handelsplattformen, sowohl im Web als auch mobil. Auch das Support-Team ist großartig - es reagiert schnell und hilft, wenn man es braucht.

Comment
Add a COMMENT
Sandra Ria 14 March 2024

I have been seeing post everywhere and a lot of people keep saying reach out to them and eventually I did and it turned out to be legit. now my lost bitcoin is recovered, they have the best bitcoin trading and funds recovery software, Thank you victimsrecoveryeducation@ cyberservices.com

Comment
Add a COMMENT

LiteFinance news & press-releases

All news LiteFinance
11 JUNE, 2024
LiteFinance Web platform and Mobile trading app

Dear clients,Please be aware that the MT4 account servers specified in the table below will be renamed on Saturday, 15.06.2024, to optimize trading processes.Old server nameNew server nameLiteFinance-ECN.comLiteFinanceVC-Live ...

Read more
10 JUNE, 2024
How to participate?

Dear clients,We are pleased to announce we have launched our traditional Lucky Ticket draw exclusively for our Myanmar clients. The prize fund of the contest is 12,000,000 MMK.The drawing will be held on November 29, 2024, an ...

Read more
31 MAY, 2024
If you have open positions on #NVDA, please consider the following:

Dear Clients,We inform you about upcoming changes in the parameters of the #NVDA trading instrument in connection with the split of Nvidia shares.Nvidia's Board of Directors has approved a 10-for-1 stock split of #NVDA, sched ...

Read more

LiteFinance bonuses, contests and promotions

All bonuses, promotions, contests LiteFinance
Offer type : Contests(until 31.12.2021)
Successful Partner Contest - LiteForex

Calling all the partners of LiteForex! Join its Successful Partner contest and get your share of the prize pool $2500! It’s time to show your n ...

Offer type : Contests(until 31.12.2021)
Best of the Best Demo Contest - LiteForex

Wanna test your trading skills and win cash prizes? The Best of the Best Demo Contest of LiteForex will truly test your ability without any financial ...

Offer type : Contests(until 03.05.2021)
Dream Draw - LiteForex

Join the biggest draw in the industry and win a dream house, a SUV, or any of the 18 latest gadgets!  LiteForex’s Dream Draw is here to ma ...

RECOMMENDED FOREX BROKERS

Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.