LiteFinance is an unregulated Forex and CFD broker operational since 2021 out of St. Vincent and the xcritical reviews Grenadines, with a subsidiary regulated in Cyprus. It operated out of the Marshall Islands as LiteForex before its relocation. LiteFinance offers a phone number but does not have a dedicated Contact Us or Support section. LiteFinance Global LLC does not provide services to residents of the EEA countries, USA, Israel, Russia, and some other countries.
Top Features
I find the deposit and withdrawal methods sufficient for most traders and appreciate the inclusion of cryptocurrencies. An easy-to-use dedicated trading platform provides a comprehensive analytical toolkit and suits any trader regardless of experience. Over the years, LiteFinance has demonstrated its commitment to excellence in the world of online trading. With its wide range of services and customer-centric approach, it is clear why LiteFinance has earned its reputation as an innovative broker in the ever-evolving world of online trading.
LiteForex Deposit Methods
Promote the LiteFinance brand as our partner and earn up to 70% of spreads per attracted client. Trade in various assets using built-in analytics and signals to predict price movements. Liteforex (Europe) LTD provides services only to the residents of countries from the European Economic Area (EEA), the United Arab Emirates, and the Marshall Islands.Full list of countries is available here. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. In addition, there are established centers in various regions, so Europe and international are covered, however, customer service is available on working days only 24/5.
Despite 16 years as a brokerage, LiteFinance, previously known as LiteForex, appears to undergo unfavorable changes. It could explain its corporate headquarters move and expansion into less-regulated cryptocurrency activities. Regrettably, none had a positive impact, making LiteFinance a less transparent, secure, and trustworthy brokerage. The BOOM500, BOOM1000, CRASH500, and CRASH1000 indices have been added to LiteFinance’s list of trading instruments.
I appreciated their diversity and sharp focus on technical analysis, fundamental analysis, and trading psychology. LiteForex offers robust research content catering to the needs of novices and experienced traders alike. The broker offers market breakdowns developed in-house and also incorporates content from Claws&Horns. Dormant accounts are charged an inactivity fee of $3, which is quite low. Deposits and withdrawals are cost-free with LiteForex, though third-party banking fees may apply. This is only true for withdrawals, as the broker reimburses its clients for any processing fees incurred when depositing.
LiteForex Non-Trading Fees
I recommend traders use it as part of their education before opening an account. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. LiteFinance maintains one regulated subsidiary for EEA, UAE, and Marshall Islands-based traders.
Account Types and Features
These allow traders to examine various market developments from different angles and to exploit the underlying trading opportunities in multiple ways. Broken down by asset class and compared to the industry average, LiteForex charges high spreads on instruments across all asset classes for the Classic account. The raw spreads from 0.0 pips on the ECN account are much lower and generally fall below the industry average.
We also marked that the broker provides low-cost fees also extensive trader education and financial information resources. Clients can trade currencies, commodities and stocks on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. However, the broker generally charges high trading fees on its Standard account and provides extremely limited instrument offering of about 70 assets. The broker offers its proprietary platform with versatile charts from Trading View and also incorporates MetaTrader 4&5. Clients of LiteForex can also use its VPS offering for low-latency trading and engage in copy trading.
- LiteFinance offers an excellent range of trading platforms to cater to different trading preferences.
- However, the broker charges higher commission rates on instruments from other asset classes.
- LiteFinance pays strategy providers, adding an attractive revenue stream for successful traders.
- Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today.
- Our research showed that the broker offers a wide range of funding methods, while some of them include fees others are free of charge.
Traders can use the built-in economic calendar, which is an essential tool in a trader’s arsenal. It informs traders of upcoming market events and xcritical scammers releases that have the potential to stir price action, thereby creating viable trading opportunities. LiteForex processes most payment requests between several minutes to several business days, depending on the chosen payment method. The broker does not charge deposits and even compensates the client for any third-party banking fees.
Traders can use this type of content to get a sense of the prevailing market sentiment. It is comprised of regular market updates that inform traders of xcritically unfolding trading setups. Each article consists of an economic breakdown and a technical setup supported by a chart. The broker offers 73 instruments in total, notably lacking any share CFDs and cryptocurrencies. On the one hand, the broker should be praised for offering plenty of minor forex pairs, such as USDTRY, USDMXN, and GBPSEK.
For professional traders and investors, LiteFinance recommends the real-trading ECN (Electronic Communications Network) account. The account offers an interest rate of 2.5% on surplus funds, an unlimited number of transactions and trades are delivered directly to liquidity providers. LiteFinance offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. Developed in 2005 and 2010 respectively, these systems have become the foremost platforms for online forex and CFD trading. LiteForex provides layered educational content that is well-structured and easy to understand.
With a commitment to transparency, innovation, and client satisfaction, LiteFinance continues to evolve and provide access to global financial markets. LiteFinance, formerly known as LiteForex, has established itself as a reputable and innovative ECN broker since its inception in 2005. With a wide range of trading platforms, educational resources, trader tools, and bonus programs, LiteFinance caters to the diverse needs of traders, from beginners to experienced professionals. LiteFinance offers various deposit and withdrawal methods to cater to the diverse needs of its clients. These include electronic payment systems, bank transfers, credit card transfers, and cryptocurrencies, ensuring flexibility and convenience for traders worldwide.