Lite Finance vs Skilling | Compare Features, Safety & More for 2024

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LiteFinance vs Skilling: In a Nutshell

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

Skilling

Established in 2016 by Scandinavian entrepreneurs, Lennart Clausen, André Lavold, Henrik Ekdahl, and Mikael Harstad, Skilling is a regulated and innovative forex broker. It offers traders access to more than 900 forex and CFDs on its Skilling Trader, cTrader, and MT4 platforms. The broker’s Premium account features competitive spreads and low commissions, ideal for advanced traders. Skilling.com provides forex pairs, CFDs, commodities, shares, indices, gold, silver, oil, bitcoin, and other cryptocurrencies for your personal investment and trading options. Additionally, Skilling provides tools like TradingView, an economic calendar, market news, and detailed analysis to enhance trading decisions.

Skilling Overview
  • Founded In: 2016
  • Minimum Deposit: 
  • Maximum Leverage: Up to 1:1000 for non-EU retail traders,1:30 for EU retail traders.  1:200 for professional traders
  • Regulations:CySEC, FSA, and FCA (recently deregistered from FCA)
  • Trading platform: MT4, MT5, cTrader, Skilling Trader, and Skilling Copy
  • Account Types:  Offers 3 account types: Standard, Premium, MT4
  • Payment Options:Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, CoinsPaid, Directa24, FasaPay, Klarna, Neteller, Ngan Luong, Pagsmile, PayPal, PayRetailers, PayTrust88, Skrill, Swish, Trustly, UnionPay, WebMoney
  • US Traders: Not Accepted

Lite Finance vs Skilling: Side By Side Comparison

Lite Finance
Skilling
Product
Founded In
Founded In
2005
2016
Founded By
Founded By
Mahmud Naimov
Scandinavian Entrepreneurs
Headquarters
Headquarters
Port Louis, Mauritius
Mahe, Seychelles
Regulations
Regulations
CySEC, FSC
CySEC, FSA, and FCA.
Min Deposit
Min Deposit
$10
$25 for the Non-EU standard account, $100 for the EU standard account, and $5000 for the premium account.
Max Leverage
Max Leverage
1:1000
up to 1:1000 for non-EU retail traders,1:30 for EU retail traders. 1:200 for professional traders
Tradable Assets
Tradable Assets
Currency , Metals , Oils , Commodities
800+ forex, CFDs, commodities, shares, indices, and cryptocurrencies
Fees
Fees
Spread from 0.5 pips
starting from 0.8 pips for a standard account,
Platforms and Tools
Platforms and Tools
MT4/5, LF, cTrader
MT4, Ctrader, Skilling Social Copy Trading, and Skilling own trading platform
US Traders
US Traders
Not Allowed
Not Allowed

Lite Finance vs Skilling: Pros and Cons

Lite Finance 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

  

Skilling Pros & Cons

Pros
  • Regulated by CySEC,  FSA, and FCA.
  • The Maximum leverage is as high as 1:1000 for global entities, 1:30 for EU traders, and 1:200
  • Fully Digital Account Opening ( Easy Sign and Verification Process)
  • Demo Accounts are Available
  • Low Trading fees starting from 0.8 pips for standard accounts, and 0.10 pips for premium accounts
  • Offers both leverage and non-leverage cryptos of trading
  • Educational resources with a new 'Trading Study Hub' for beginner investors to learn more about investing
  • Offers a variety of trading platforms and tools including MT4, Ctrader, Skilling Social Copy Trading, and Skilling own trading platform
  • Straightforward fees, no hidden charge
  • No deposit and withdrawal fees
Cons
  • Higher minimum deposit of $100 for Standard accounts, and $5000 for Premium accounts in the EU
  • Degegistered  from FCA regulations 
  • Service is not available in many countries including Canada and the US
  • 1:2 leverage for cryptocurrencies
  • Only Forex and CFDs are offered

LiteFinance Vs Skilling: Our Scores and Ratings

We rated both brokers, LiteFinance and Skilling, 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.

LiteFinance:

8.2
LiteFinance 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

Skilling

8.8
Skilling Score
Regulation and Security (40%)9
Fees and Commissions (20%)9
Trading (15%)9
Trading tools (10%)9
Customer Support (10%)8
Trading Education (5%)7

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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