LiteFinance is a forex and CFD broker that provides online trading services globally. Based in Saint Vincent And Grenadines, it is regulated by top regulatory authorities including Cysec, CMA, SEC, SECM, SBV LiteFinance offers a variety of trading instruments, including Currency , Metals , Oils , Commodities. It supports popular trading platforms and tools such as MT4, MT5 and MobileTrader.
Though LiteFinance is a highly trusted and regulated forex and CFD broker, it has its strengths and weaknesses. In this review, we will take an in-depth look at LiteFinance, exploring its features, pros, cons, and more. By reading this review, you will gain a better understanding of whether LiteFinance is the right broker for your trading needs and preferences.
What is LiteFinance?
LiteFinance (formerly known as LiteForex) is an online forex and CFD broker founded in 2005. It provides online trading services for individuals interested in participating in the foreign exchange market and other financial markets. LiteForex offers various trading accounts, platforms, and educational resources for traders. You can trade using MT4, MT5, and mobile trading apps on LIteFiance. This broker offers 250+ trading instruments for retail traders.
LiteFinance Overview
- Founded In: 2005
- Minimum Deposit: $10
- Maximum Leverage: 1:1000
- Regulations: FCA, CySEC, FSA, FSA (Labuan), and FSCA.
- Trading platform: MT4/5, LF, cTrader
- Account Types: ECN, Classic
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alipay, Bitcoin, Bitcoin Cash, Boleto, Ether/Ethereum, Litecoin, Local Bank Deposits, M-Pesa, Mobile Money, Monero, PerfectMoney, Ripple (XRP), WebMoney
- US Traders: Not Accept
Key Features:
- Applicable For: Applicable for all jurisdictions including Cysec, CMA, SEC, SECM, SBV
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity.
- KYC Verification: Required
- Trading Instruments: Currency, Metals , Oils, Commodities.
- Trading Platforms: MT4, MT5, MobileTrader (MobileApp)
- Minimum Deposit: $10
- Maximum Leverage: Up to 30:1 (CySEC, ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
- Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.0 pips for the ECN account, From 0,25$ per lot2 per lot for the ECN account, 1.8 pips for the Prime account and 3 pips for the Cent Account
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 100 Lots
- Funding Currencies: USD, EUR
- Maximum Number of Positions ( At a time): 200 for MT4, MT5 Live account, 100 for MT4, MT5, demo accounts, 2000 for Ctrader trading account.
- Maximum Volume per trade: The maximum volume per trade ranges from 50 to 250 lots, depending on the platform type and tradable assets. For Shares CFDs, the maximum volume is 1000 shares in total
- Trading Style Allowed: All including Scalping, hedging, and EA Trading.
- Stop Out Level (retail): 20%
- Margin Call Level: 100%
- Negative balance Protection: Yes
- Investor Protection: Available under ASIC and CySEC regulations. However, the Investor protection scheme does not apply to FSA jurisdiction.
LiteFinance Pros and Cons
Pros:
- LiteFinance ( formerly LiteForex) is regulated by CySEC
- The Maximum leverage is as high as 1:1000
- Correspondence to the A-Book model, STP (straight-through processing) and ECN technologies for processing client orders
- Variety of account types, including Classic and Islamic accounts.
- Scalping, News trading, and EA/Robot Trading are allowed
- Offers web trading, mobile trading and ECN trading
- Multiple payment methods, plus local transfers
Cons:
- Not regulated by tire regulators like FCA, ASIC
- No passive investment program ( MAM, PAMM Accounts)
- US, UK, or Japan Traders are not accepted
- A small selection of trading instruments;
- Sometimes it takes time to receive a response from technical support;
- 3% withdrawal fees if you do not have any trading activities
Our Ratings for LiteFinance:
Review and Reputation on Public Domains:
Public review sites like Trustpilot and Forex Peace Army have become important sources of information about brokers. Many traders share their real-life trading experiences on these platforms. However, there are also many fake or paid reviews on these platforms, and sometimes competitors leave negative reviews. This makes it challenging to find genuine reviews. By carefully reading the content and context of the reviews, you can often discern their authenticity. Do not blindly rely on these reviews; instead, use them as part of your overall broker research process
LiteFinance Ratings and Reviews from Trustpilot:
LiteFinance has earned a rating of 4.8 out of 5 on Trustpilot. These high ratings indicate customer satisfaction and trust. After carefully examining the reviews, we found that most of them are genuine, provided by real users sharing their real-life trading experiences.
LiteFinance Ratings and Reviews from Forex Peace Army:
LiteFinance has achieved an average rating of 3.8 out of 5 on Forex Peace Army (FPA). We’ve observed numerous brokers on FPA, and most brokers tend to have lower ratings. Several reasons might contribute to this. There is a complaint that FPA does not approve all positive reviews and only approves negative ones for the sake of their business. To understand the real reviews, traders should focus on the content of the reviews. Typically, fake, paid, or competitor reviews are generic. While you should consider these reviews as part of your research process, you shouldn’t make decisions based solely on them. For instance, if you encounter any user complaints, you might discuss them with the broker to verify if such issues exist. Additionally, you should review the broker’s policy and terms of service.
Final Verdict:
LiteFinance is a regulated forex and CFD broker that offers its trading services to traders and investors worldwide. It provides a wide range of trading instruments, including Currency, Metals , Oils, Commodities. The broker’s spreads start from as low as 0.0 pips, and it offers high leverage (up to 1:1000) and a low minimum deposit (as low as $10). With top-tier regulations, a variety of trading instruments, high leverage, low minimum deposit, fast execution, and flexible account types, LiteFinance can be a good choice for many traders.
However, the broker does not accept US clients. It also does not have any investor protection scheme for non-UK/EU traders. Additionally, LiteFinance does not offer any real stocks or cryptocurrencies; it offers only forex and derivatives.
If you are a forex and CFD trader looking for a trusted broker, LiteFinance can be an ideal choice for your trading journey. However, We always encourage traders to test brokers with a demo account or with a small deposit. Once you are satisfied with the trading conditions of the broker, you may proceed with real trading.