IG vs Lite Finance | Our Analysis & Comparison (2024)

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IG

Founded in 1974 as IG Index by Bristish Financier Stuart Wheeler, IG is a well known forex and CFD broker.It  offers offer over 100 forex currency pairs, cfxfds, commodities, stocks, index, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

IG Markets Overview
  • Founded In: 1974
  • Minimum Deposit: $250
  • Maximum Leverage: 200:1
  • Regulations: ASIC, FCA, FSA, NFA , AMF, FMA, MAS, DFSA
  • Trading platform: MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
  • Account Types: Standard account, DMA Account
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, PayPal
  • US Traders:  Accepted 

Lite Finance

LiteFinance (formarly 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 offer 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

IG vs Lite Finance: Pros and Cons

IG Pros & Cons

Pros
  • Regulated by multiple top tire regulators like  NFA,  FCA, ASIC, FSA, AMF, FMA, MAS, DFSA 
  • Allows scalping, EA/ Robot Trading, News Trading
  • Offers web trading, mobile trading and ECN Trading 
  • IG's acquisition of tastytrade for $1 billion brought options trading and listed-derivatives (such as futures) trading to clients in the United States
  • 16,000 trading instruments, investments in IPOs and exchange-traded funds;
  • Quality choice of trading platforms, including MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
  • Relatively good spreads, from 0.6-1 pips depending on the type of instrument;
  •  Offers passive investment programme ( MAM, PAMM accounts)
Cons
  • Relatively high Minimum deposit ( Min Deposit $250) 
  • Conservative leverage in some areas  ( The max leverage is 1:200)
  • IG charges $/£12/€14 per month after 24 months of inactivity 
  • Limited product range on MT4
  • High Stock CFD fees 

LiteFinance Pros & 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

  

IG vs LiteFinance: Side-by-Side Comparison

IG
Lite Finance
Product
Founded In
Founded In
1974
2005
Founded By
Founded By
Stuart Wheeler
Mahmud Naimov
Headquarters
Headquarters
London, UK
Port Louis, Mauritius
Regulations
Regulations
ASIC , FSCA ,DFSA , FCA,NFA, FSA, AMF, MAS, FMA, DFSA
CySEC, FSC
Min Deposit
Min Deposit
$50
$10
Max Leverage
Max Leverage
50:1
1:1000
Tradable Assets
Tradable Assets
Indices, Forex ,Shares, Commodities ,Cryptocurrencies, Bond
Currency , Metals , Oils , Commodities
Fees
Fees
Spread from EURUSD 0.6 Gold 0.3 (Standard Account)
Spread from 0.5 pips
Platforms and Tools
Platforms and Tools
MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
MT4/5, LF, cTrader
US Traders
US Traders
Allowed
Not Allowed

IG Vs LiteFinance: Our Scores and Ratings

We rated both brokers, IG 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.

IG:

9
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)9
Trading (15%)8
Trading tools (10%)8
Customer Support (10%)8
Trading Education (5%)8

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 :

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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