IC Markets vs LiteFinance : Features, Safety, and More 2024

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IC Markets and LiteFinance are Forex and CFD brokers that offer online trading services to traders and investors worldwide. Both brokers are regulated by top-tier regulatory authorities. IC Markets is regulated in two tier-1, one jurisdiction including ASIC, CySEC, and FSA. On the other hand, LiteFinance is regulated in two tier-1 jurisdictions, and one tier-5 jurisdiction including CySEC, MIFID, and FSA. These two brokers offer almost similar services. However, each broker has its strengths and weaknesses.

In this article, we will compare and contrast IC Markets with LiteFinance regarding trading their pros, cons platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. This comparison lets you understand which broker is better for your trading style and preferences

IC Markets vs LiteFinance: In a Nutshell

IC Markets

Founded in 2007 by Andrew Budzinksi, IC Markets is an Australian-based forex and CFD broker offering trading services to institutional and retail traders worldwide. The broker offers 2250+ trading instruments including  Forex, commodities, indices, bonds, stocks, futures, and cryptocurrencies. Over the years, the broker has improved in quality and services. It offers true ECN trading with low spreads, high leverage, and fast executions to a global clientele. IC Markets is a multi-asset trading platform of choice for high-volume traders, scalpers, and robots. To learn more about IC Markets, you can read our review. 

ICMarkets Overview

ICMarkets Overview
  • Founded In: 2007 
  • Founder: Andrew Budzinksi
  • Headquarters: Australia
  • Minimum Deposit: $200
  • Maximum Leverage: Upto 1000:1 for FSA Jurisdiction, 30:1 for ASIC, CySEC clients.  
  • Regulations: ASIC, CySEC,  and FSA
  • Trading platform: MT4, MT5 and cTrader
  • Trading Instruments: 2150+ Trading Instruments including Forex, Crypto, Stock, Commodity Indices, Bonds, Futures.
  • Account Types: Standard, Standard, Raw (Metatrader, Ctrader) 
  • Fees: Spread starting from 0.8 Pips(Standard Accounts) or $3 to 3.5 Commission (Raw Accounts)
  • Payment Options: bank/wire transfer, Paypal, credit card, Skrill, Neteller, UnionPay, Bpay, FasaPay and Poli.
  • US Traders: Not Accepted 

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. To learn more, you can read our review about LiteFinance.

LiteFinance Overview

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

IC Markets vs LiteFinance : Features

IC Markets:

  • Regulations: ASIC, CySEC, and FSA
  • Trading Instruments: 2150+ including  Forex, commodities, indices, bonds, stocks, futures, cryptocurrencies
  •  Minimum Deposit: $200 or Equivalent
  • Maximum leverage: up to 1000:1 in FSA jurisdiction, in some countries, it offers 500:1 leverage, for ASIC, and CySEC entity the brokers offers up to 1:30 leverage.   
  • Account types: Standard Account and Raw Account (Metater, Ctrader) 
  • Fees:  Spread starting from 0.8  pips for Standard Account or 3.00 to 3.50 per lot for Raw Account on a single Trip. 
  • PAMM/ MAM:  Not Available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

LiteFinance

  • Trading Instruments: 250+ Trading instruments including Forex currency pairs,  CFD stocks, Stocks indexes, Metals, Oil, Cryptocurrencies, etc.
  • Maximum leverage: The maximum leverage of LiteFinance is as high as 1000:1. However, leverage may vary based on jurisdiction, and tradable assets. 
  • Minimum Deposit: The minimum deposit of LiteFinance is $10 for cent account, $50 for ECN and Classic Accounts 
  • Account Types: Three (ECN, Classic, Cent) 
  • Trading Fees: Floating spread starting from 0.0 pip for ECN Account, 1.8 Points for Classic Account, and 3 points for Cent Account. ECN account charges a commission of 0.25 per lot per side (Zero Spreads) 
  • PAMM/ MAM:  Not Available
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

IC Markets vs LiteFinance: Pros and Cons

IC Markets

Pros
  • Fully Regulated broker, ( One tire-1 , jurisdiction, one tire-2 jurisdiction) 
  • Super fast trade execution speed 
  • Straightforward registration process 
  • Low spread, starting from 0 pips. 
  • Easy and Fast Account Opening 
  • Free deposit and withdrawal 
  • Offers standard and raw spread account
  • Trading EA is Allowed 
  • Ability to trade from a mobile device 
  • A demo Account is available
Cons
  • Higher minimum deposit 
  • No investor protection for non-EU Clients 
  • Limited Product Selection 
  • No weekend Trading 
  • US Traders are not accepted

LiteFinance

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

  

IC Markets vs LiteFinance: Side-by-Side Comparison

IC Markets
Lite Finance
Product
Founded In
Founded In
2007
2005
Founded By
Founded By
Andrew Budzinksi
Mahmud Naimov
Headquarters
Headquarters
Sydney, Australia
Port Louis, Mauritius
Regulations
Regulations
ASIC, CySEC, FSA, and SCB
CySEC, FSC
Min Deposit
Min Deposit
$200
$10
Max Leverage
Max Leverage
1:500
1:1000
Tradable Assets
Tradable Assets
Over 2100 forex, CFDs in stocks, indices, commodities, cryptos, and Bonds.
Currency , Metals , Oils , Commodities
Fees
Fees
Spreads from 0.6 pips, Commissions $7/round lot
Spread from 0.5 pips
Platforms and Tools
Platforms and Tools
MT4, MT5, and cTrader
MT4/5, LF, cTrader
US Traders
US Traders
Not Allowed
Not Allowed

IC Markets Vs LiteFinance: Our Scores and Ratings

We rated both brokers, IC Markets and LiteFinance, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

IC Markets :

9.3
IC Markets Scores
Regulation and Security (40%)9.5
Fees and Commissions (20%)9.5
Trading (15%)8.5
Trading tools (10%)9
Customer Support (10%)9.6
Trading Education (5%)9.4

LiteFinance:

8.2
Lite Finance Score
Regulation and Security (40%)7
Fees and Commissions (20%)9.3
Trading (15%)9
Trading tools (10%)9
Customer Support (10%)9
Trading Education (5%)8

Final Verdict :

IC Markets and LiteFinance are regulated forex and CFD brokers in the industry. They offer similar trading services including forex and CFD trading. They both allow scalping, hedging, EA trading and Copy trading. Neither of these brokers accept US Clients. The minimum order size for both of them is 0.01. 

However, there are a few areas where you may find some differences. For example, the minimum deposit for IC Markets is $200, whereas the minimum deposit for LiteFinance is $50. Additionally, the maximum leverage for the IC Market is generally 500:1 (in some countries IC Markets offers 1000:1 leverage). On the other hand, the maximum leverage for LiteFinance is 1000:1. IC Market offers passive investment programs or copy trading programs like MAM, and Zulutrade. In contrast, LiteFinance does not have any passive investment programs.

Our score for IC Markets is 9.3, and for LiteFinance, it is 8.2 So, if you are looking for the most trusted forex brokers with tight spread and  MAM account services, you may choose IC Markets. However, If you prefer a forex broker with a lower minimum deposit, and offering a similar trading service to IC Markets, you may choose LiteFinance.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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