LiteFinance Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
Since 2005, the LiteFinance (formerly LiteForex) broker has been a part of a
sizable worldwide firm that has been active in the financial sector. The fact
that the organization strives to serve the broadest possible audience of
customers is one of the defining characteristics of it. Trading with a cent
account may begin very immediately after LiteFinance was launched. You would
only need one dollar to get started trading. Let's investigate the current state
of this broker's terms and see how favorable they are in the year 2020. We will
also provide an answer to the question of whether or not it is possible to place
your financial faith in LiteFinance.
Visit LiteFinance Website.
LiteFinance views the creation of the most user-friendly and varied trading circumstances as the primary objective of the company, both in the foreign exchange market and in other markets. According to the reputable journal "World Finance," LiteFinance was able to make it into the top 100 best brokers in the world because to the excellent quality of the services they provide and their ongoing commitment to improving their trading platform.
Clients of the broker currently have access to an extensive array of financial instruments suitable for professional trading. These products may be traded in a variety of markets. There are seven different classifications of assets by themselves.
The official website of the broker is available with a user interface that is given in 15 of the most common languages. The exact same thing is true for the platform. Literally anyone can familiarize themselves with it in a very short amount of time.
Decades in the financial markets: the broker first started offering its services in 2005 and soon established a reputation as a trustworthy marketplace.
High-speed and automatic withdrawal of small sums of money: The systems of the broker can quickly process requests for withdrawals of amounts up to $100 without the intervention of a human being. This significantly improves the level of comfort experienced by novice traders as well as those who are accustomed to gradually withdrawing profits in small amounts.
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Implementation of one-of-a-kind ECN-technologies: the electronic communication network of the broker enables transactions to be carried out directly, without the broker's needless involvement, and enables one to have confidence in the speed with which they are executed.
A multilevel affiliate program is one in which a person can earn commissions either by establishing a full-fledged affiliate agreement or by simply distributing an affiliate link.
Registration is straightforward, taking no longer than three to five minutes and not necessitating any complicated verification processes.
A quick and easily accessible support service is provided, with certified
professionals available to assist traders five out of seven days of the week, 24
hours a day, using the chat widget located in the bottom right corner of the
This service, known as a personal manager, is made available to all customers of the broker, regardless of the size of their accounts.
Reimbursement of commissions: In the event that a client makes a deposit, the broker will compensate the customer for any commissions that were deducted by the payment system.
When it comes to customer support, you may occasionally interact with online assistants that are not the most polite or even unpleasant.
Withdrawals: It is possible for automated withdrawals to function, although there may be delays.
LiteFinance provides its clients with a floating spread regardless of the trading account type, a relatively high leverage of 1: 500, a minimum lot size of 0.01, and five base currencies of the account, two of which are the euro and the U.S. dollar. Trading systems known as MT4 and MT5 are made available to customers, in addition to a user-friendly online platform. To get started, a minimum deposit of fifty dollars is required.
LiteFinance gives traders access to the following asset types for trading purposes:
Currency pairings with the largest trading volume and their respective cross rates;
gold, silver, and several other types of metals;
Brent and WTI are two of the most common grades of crude oil.
Stock Indices: the list contains choices from the United States, Europe, and other parts of the world;
CFDs of the largest and most well-known companies in the world are traded on the NYSE.
CFD stands for contracts for difference and refers to major global corporations;
Tradeable cryptocurrencies include Bitcoin, Bitcoin Cash, Dashcoin, Ethereum, Ethereum Classic, Litecoin, Monero, Ripple, and ZCash. You may also trade cryptocurrencies such as Ripple and ZCash.
In light of the fact that LiteFinance's primary mission is to give its customers with the most favorable terms possible, the firm has made it a point to offer an extensive range of trading opportunities. The time-tested MT4 platform, the popular MT5 platform, a handy and accessible online platform on the broker's official website, or a mobile version of it for IOS and Android are all available to the company's customers as trading platforms.
Trading in the financial markets is made much easier with the help of the MT4 platform, which has proven its worth over a long period of time. Trading in currency pairings and CFDs is where it shines the brightest. The MT4 platform's most notable characteristic is its adaptability, since it mixes hundreds of distinct functionalities into a single application. In MT4, you have access to 9 different periods and 30 different indicators, with the ability to download more ones. Additionally, it is feasible to link additional autonomous robots and advisers to the system.
MT5 is the platform that will replace the one that came before it. The program is differentiated by the incorporation of a store of robots as well as an option for copy trading, in addition to a great deal of other capabilities. In MT5, there are more than 80 different indicators that come pre-installed.
You may get more information about the online platform by selecting the "Register" button located in the top right hand corner of the site. There is also something called "Demo mode" available. This platform may be described as being less complicated and more succinct, yet it is constantly accessible through your web browser.
The mobile application for the broker is optimized for devices with a narrower diagonal, but it does not fall short of the online version in terms of the functionality and usefulness it provides.
Free mobile trading applications for Android and iOS-based operating systems are offered by LiteFinance. These applications may be downloaded from the respective app stores. When a customer downloads them, they get the ability to trade at any location and at any time, as well as receive free expert analytics, trading signals, and trading techniques on their mobile device.
Each of the programs is available in eight different languages, therefore catering to the most people possible. It is recommended by LiteFinance that you use them since they are an efficient extra instrument that will enable you to avoid "dropping out" of the market under any circumstances.
Every newcomer can take advantage of a trading chance through a demo account (and professionals). Utilizing the full range of trading instruments gives you the opportunity to refine your abilities and get experience with the many trading tools offered by the broker. Demo trading operates on the basis of actual market data, which enables traders to practice a variety of trading tactics, including scalping, without risking their own money. On the other hand, the money in the demo account is fictitious, so there is no chance of losing any of it. You are free to use your LiteFinance sample account for as long as you like, with no time restrictions whatsoever.
You will need to click on your login, which is located in the top right corner of the page, in order to convert to a demo account. There will be a button for you to click that says "Activate demo trading."
On the LiteFinance website, traders are only able to choose between two different types of trading accounts:
ECN is a trading platform that only advanced investors should consider using. You might participate in social trading (copy trading). A higher interest rate will be applied to the amount of money that is still in your account after all withdrawals have been made. This is an added function (it works just like a bank deposit). Having access to a huge liquidity pool while maintaining reasonable spreads would be a welcome plus. The ECN technology that underpins the functioning of this account will ensure that your orders are carried out in the quickest possible manner. The bare minimum required for a deposit is $50.
Classic is a type of account that is recommended for newcomers and traders with little to no expertise. As opposed to the option that came before it, this one has a spread of 1.8 pip or more, a leverage of 1:500, and there is no commission of $5 each lot. On the other side, there is no interest accrued on the money that are left in this trading account if they are left there for an extended period of time. Other than that, the criteria are exactly the same as those of an ECN account.
The LiteFinance broker's website makes it very easy to open an account in their platform. To accomplish this, navigate to any page on the website and look for the "Registration" button in the upper right corner. Once you click on it, you will be prompted to enter your country, email address, and password. After that, click the "Register" button and enter the code that is provided in the email that will be sent to you. After that, you will instantly be able to make deposits and begin trading on the site.
You can deposit monies via:
Using your bank card, deposits of $10 or more are free of charge.
Deposits of ten dollars or more in euro are accepted at Perfect Money without incurring a fee.
Skrill will not charge you a fee for deposits of $10 or more.
Depositing more than ten dollars or euros into your WebMoney account is free of charge.
You are able to withdraw money using the usual methods, however there are some extra requirements:
Withdrawals starting at $15 can be made using a bank card. The commission rate will be three percent plus one dollar (or maybe more; the exact amount will depend on the bank card system).
Withdrawals may be made using PerfectMoney beginning at $1, and the fee for doing so is 0.5 percent of the amount withdrawn.
Skrill has a minimum withdrawal amount of one dollar, and there is a one percent fee for withdrawing funds.
Withdrawals may be made using WebMoney starting at $1, and the commission rate is 2.5% of the amount withdrawn.
You will need to navigate to the "Finance" area, which can be found in the online platform that the client receives following permission. This section is placed on the left side of the screen.
On the website of LiteFinance, there is a sizable part labeled "For Beginners." In this section, you can:
Register for individual classes that will teach you the fundamentals of trading.
Join monthly webinars hosted by experienced traders and participate as a member.
Studying a glossary that contains the fundamental words used in trading on financial markets is a good idea.
Study the abridged versions of the Forex books that are the most well-known and helpful.
Study a unique Forex trading instruction.
Explore common trading tactics.
Gain an understanding of how to make advantage of the most reliable signs.
You are able to work with a wide variety of trading techniques thanks to our user-friendly trading conditions and extensive choice of trading assets. The "Trading Strategies" section, which can be found under the "Beginners" category, is always the best place to research and learn about the most successful and lucrative of these methods. These include the "Wild River," "Nomad," and "Calm Position" techniques, as well as a plethora of others, all of which are detailed in a separate section, in addition to those that are covered in webinars.
Trading with LiteFinance is one option that we feel confident recommending due to the user-friendliness of the site, the company's solid reputation, and the trading conditions that are both flexible and comprehensive. The majority of traders have expressed their contentment with this broker so far. LiteFinance leaves practically none unsatisfied.
When writing a review of LiteFinance, it is best to begin by discussing the
background of this broker in general.
The Marshall Islands are home to the headquarters of LiteFinance, a company that has been active in the foreign exchange trading industry for more than 16 years.
The RAFMM group eventually presented the broker with a regulatory certificate, much like the IFC Markets had done previously.
In point of fact, the regulatory body has the responsibility to evaluate the credentials of brokers and either accept or reject them after conducting an examination.
LiteFinance was the first broker to do away with the primary ways of structuring utilized by major brokers and to launch accounts with a minimum deposit of only one dollar.
This was a very ground-breaking and innovative move! This action has been duplicated by other brokers, which has resulted in millions of new traders beginning trading with the minimum deposit in actual accounts (not demo).
As a result, this measure is the most significant effort that LiteFinance broker has ever taken, and it has been replicated by other reputable brokers throughout the world.
In other words, because of LiteFinance, this financial market has become the most popular financial market for a large number of traders whose deposits are less than one hundred dollars.
The United Kingdom-based business publication World Finance included the forex broker LiteFinance on their list of the top 100 financial institutions in the world.
This broker has raised its market share throughout the course of the previous 16 years, from 2005 to 2021, by expanding the trading services it provides and the list of assets that may be traded. Additionally, it has provided more alluring rewards for traders.
Prices, Commissions, and Spreads:
Commissions and spreads contribute far more to LiteFinance's overall revenue than any other source.
In ECN accounts, the spread for the currency pair dollar/euro starts from at least 0.0 points and gets a charge of $10 per lot.
There is little doubt that the value of the spread shifted depending on the currency pair that was being traded; at its highest, it might reach $30 per lot.
The following is a list of the spreads offered by the LiteFinance broker for the various trading assets:
Spreads value in contracts for difference (CFDs; metals and commodities) between fifty cents and twenty dollars.
Spreads in cryptocurrencies and currencies pair a dollar and a fifty cent coin.
The spreads on CFD stocks each cost $0.25 per share.
LiteFinance keeps its pricing environment open and transparent at all times, and it has an archive of historical average spreads that is updated once every week.
There is no mention of fees for inactivity in the customer agreement, and LiteFinance disregards all of the expenses associated with deposits and withdrawals.
The total cost structure is still appropriate, despite the fact that numerous trading assets may have costs that are higher than the prime cost. A library of the broker's prior results can also be viewed by traders, which is an excellent service to take advantage of.
By following these procedures, MT4 and MT5 traders will have quick and easy access to the exchange rate shown on their platform:
You may pick the symbols by using the context menu that appears when you right-click on the chosen icon in the market window.
First, choose the currency you want to use, and then navigate to the features on the right.
To view the Swap Long and Swap Short options, scroll down.
The LiteFinance Group delivers MetaTrader 4, as well as the most recent version of MetaTrader 5, to its customers. MetaTrader is widely regarded as the most reliable and in-demand trading platform available anywhere in the globe.
Users of LiteFinance have access to desktop versions of MT in addition to WebTerminal, which allows customers to trade immediately through the browser on any computer, anywhere in the globe, without having to install a desktop version first. Access to the internet is the one and only need for utilizing WebTerminal.
Additionally, this broker offered clients free download software that allowed them to trade using their mobile devices, such as smartphones and tablets (Android, iOS, and other OS).
Traders get access to 11 global stock indexes, 37 CFDs, 56 currency pairings, and 16 cryptocurrencies. Traders also have access to important metals and cryptocurrencies.
It's possible that 126 goods is adequate for trading if you're just starting out, but experienced traders definitely require more than that.
Traders that have access to an ECN account can trade with floating spreads. Additionally, this broker offers economic calendar projections on the Forex market for future trading purposes.
Demo accounts on LiteFinance are training accounts that may be used for practice and getting ready for trading with real money.
Make use of this free account to strengthen your trading abilities, perfect your trading tactics, and get experience trading in actual market conditions.
The virtual investment of funds is accomplished through the use of a demo account. Additionally, the creation of a demo account using one's personal profile may be accomplished in significantly less than one minute.
Learn how to use the MetaTrader platform, and get some trading experience with a demo account so you don't have to worry about losing any real money.
Classic accounts, which are offered by LiteFinance broker, are often used by experienced traders. This account, which has a floating spread, is intended for traders who have a significant amount of expertise in the trading market.
In point of fact, the traditional account is the greatest choice for those traders who follow a tried-and-true trading technique, as it allows for five-digit quotation sizes and leverage of up to 1:500.
The ECN account is the ideal option for professional traders, investors, and traders who wish to use the social trading service.
This account offers the lowest possible floating spreads while providing the best annual percentage earned on money that are not used.
Make use of the cutting-edge ECN technology to set up this account; doing so will get you access to the most competitive pricing currently on the market.
This broker is also involved in the organization of competitions between traders using real and practice accounts.
Any trader who is able to snap a complete photo of themselves while trading on the LightForex platform will be entered into a drawing for a chance to win a reward from this broker in the amount of $20.
The competition on trial accounts consists of two parts: the Top10Forex contest and the Fighting contest. Both of these contests are open to everyone.
Real account competitions are also staged in a few other divisions, including the Weekly Sprint, the Great Hundred 4, and the Traders' Marathon III.
As you can see, in addition to the profit you make trading forex, you can also take part in this broker's contests and win cash in conjunction with your transactions.
LiteFinance is a foreign exchange broker firm that was founded in England and now has its headquarters in Majuro, Marshall Islands.
Finding a reliable LiteFinance review, either locally or globally, may be a challenging procedure, particularly when it comes to locating a comprehensive list from a reliable and trustworthy source.
The following is a comprehensive analysis of LiteFinance that will assist you in making an educated choice on whether or not to establish an account with them or engage in trading on their platform.
Forex brokers are organizations that offer traders with access to platforms that enable them to purchase and sell foreign currencies. These platforms are known as forex trading platforms.
Retail forex brokers and currency trading brokers are both names that refer to the same type of business. In turn, retail currency traders employ these brokers in order to acquire access to the 24-hour currency market for the sake of speculating.
Institutional clients and huge corporations such as investment banks can also take use of the forex broker services that are available.
The year 2005 marked the beginning of LiteFinance's operation as an online ECN broker. Traders have access to Tier-1 liquidity in the foreign exchange market, commodity markets, and stock markets thanks to this.
Traders may have access to a wide variety of financial products through the use of LiteFinance. These instruments include major currency pairs, cross rates, oil, precious metals, and many others.
In addition to the fact that it employs only the most cutting-edge technology, which contributes to LiteFinance's relatively solid reputation, the company ensures that traders conduct business in a secure and user-friendly environment by providing them with the best trading platforms as well as high-speed executions.
LiteFinance has been recognized with accolades such as:
2013: Awarded the Title of "Best Online Broker in Latin America"
Awarded "Best Broker in Africa" in 2012
2012: Awarded for Providing the Best Customer Service in Latin America
PAMM Service of the Year for 2011
The "Top 100" in World Finance in 2011
The Year 2011: Africa's Best Broker
2011: Winner of the Award for Best Affiliate Program
2011 – Best Clients Service
2010 – Best Forex Broker in Nigeria
2010 Winner of the Best Retail Foreign Exchange Service Provider
2010: Year of the Most Outstanding Affiliate Program
A trading account that is held by a trader with a firm like LiteFinance and that is primarily issued for the goal of trading currencies is referred to as a forex account.
Typically, the number of accounts and types of accounts that a trader is permitted to open with a broker firm will vary depending on the country in which the brokerage is based, the trader's country of residence, and the regulatory authorities under whose jurisdiction the firm is authorized to conduct business.
Traders who use LiteFinance have the option of choosing either a Classic account or an ECN account. In addition to that, it offers Muslim merchants the option of trading on an Islamic account as well as a demo account.
Traders who have some experience but are not yet operating at a professional level might benefit from using this account, which was developed just for them.
Among its many features are:
The availability of a leverage of 1:500
A minimum deposit of $50
30 percent deposit bonus
There are no commissions applied to any trades that are made.
Accuracy improvements regarding quotations
Spreads that begin at 1.8 pip in increments
Execution of market orders without requotes
No stop & limit levels
The ECN Account is designed for more experienced traders and investors, in addition to retail investors and traders who want to take use of the Social Trading Service. Traders have access to both floating spreads and deep liquidity in addition to floating spreads.
Among its many features are:
Leverage of up to one thousand to one.
Spreads that begin at zero pip increments
Commission costs that start at $5 a lot, with FX majors charging $10 per lot and minors charging $30 a lot
Increased accuracy in the quotation process
A minimum deposit of $50
Execution in the market with no price requotes
No Stop, and Be Sure to Limit Your Levels
Social trading gives professional traders access to an automated copy-trading system, which, in turn, enables them to replicate some of the most successful trades. Traders also have the ability to trade independently and to share information with one another, as well as with other traders who use the system.
Traders have a variety of alternatives available to them for making deposits and withdrawals of monies, including the use of credit and debit cards, bank wire transfers, local transfers, internet payments, and cryptocurrencies.
Transactions may be completed immediately and at no additional cost using any of the main international credit cards, which are all accepted here. The minimum amount that may be deposited is ten dollars, and the minimum amount that can be cashed out is one dollar and one cent.
A commission fee of 3.5 percent is assessed whenever monies are withdrawn from an account using one of these cards.
When money are deposited or withdrawn, LiteFinance does not charge a commission; nevertheless, the bank may be willing to forgo its own costs on transactions that are handled. The processing of transactions can take anywhere from two to seven days, and the bare minimum for a transaction is one hundred dollars.
Only residents of countries in which LiteFinance has a local office or business partner are eligible to make local transfers. Processing typically takes one day, and there are no additional fees involved in the transaction.
Providers of payment methods such Skrill, Neteller, Perfect Money, QIWI, and Yandex are examples. Dengi is permitted to be used. There is a $10 minimum deposit requirement, and there are no commission fees levied; however, there may be a withdrawal fee of less than 5% of the total amount withdrawn.
There are a variety of cryptocurrencies that may be used, including Bitcoin, Litecoin, Monero, Ethereum, Bitcoin Cash, and Bitcoin Gold. The smallest amount that may be deposited is ten dollars or its equivalent in another currency, and the smallest amount that can be withdrawn is one dollar; however, a commission will be deducted from the withdrawal amount.
The amount of money spent on trading is determined by a number of variables including fees, spreads, and margins.
The difference between the bid rate and the asking rate for a currency pair is known as the spread for that pair. A point of interest (pip) is the smallest possible change that can occur in a currency exchange rate. For currency pairs in which the Japanese yen serves as the term currency, one pip is equal to 0.01, but for all other pairs, one pip is equal to 0.0001.
Margin refers to the minimum quantity of funds that must be present in an account before a position may be opened. The current price of the base currency in relation to USD, the size (volume) of the position, and the leverage that has been applied to your trading account are all factors that go into the calculation of margin.
Commissions are the fees that a trader must pay to an investment broker in exchange for the broker's assistance in conducting transactions on the trader's behalf. The amount of commissions charged will fluctuate from one broker to the next, as well as depending on the asset that is being traded and the kind of service that is being provided by the broker.
Traders often pay lesser commissions when they work with execution-only brokers, which are defined as brokers that do not offer any kind of personalized financial advice and who grant traders full authority over the manner in which they trade the markets.
Commission on shares will be required for trading contracts for differences (CFDs), a common type of derivative trading that is becoming increasingly popular since it lets traders to bet on the rising or falling prices of rapidly changing global financial markets.
Trades in contracts for difference (CFDs) made on other markets don't incur commission fees, but they do add a spread on top of the price of the underlying asset.
The initial deposit requirement for both types of accounts is $50. a situation in which utilizing the Classic Account does not result in any commission costs being charged, while using the ECN Account does result in commission fees being charged.
Leverage refers to the facility that enables a trader to create a position with a considerably bigger exposure to the market in comparison to the amount of money that they first placed in order to do so. Leveraged products like this amplify a trader's potential profit, but they also raise the trader's potential loss, which is to be expected.
The level of leverage is typically stated as a ratio, such as 50:1, 100:1, or 500:1. If a trader has a trading account balance of $1,000 and is trading ticket sizes of 500,000 USD/JPY, then that trader's leverage is equivalent to 500:1.
Because of the high degree of risks associated with trading leveraged products, many regulators have established limits on the highest amount of leverage that brokers are allowed to give to traders. These limits are known as maximum leverage amounts.
Traders who utilize LiteFinance's Classic Account have access to a leverage of up to 1:500, while traders who utilize LiteFinance's ECN Account have access to a leverage of up to 1:1000.
It is common practice for forex brokers to entice new traders with promises of
enticing deposit incentives. This could be helpful, but it is very necessary to
determine what a legitimate bonus is.
A bonus of this kind is just a method of compensating traders for selecting a certain broker, given that once the account is established, the trader will be subject to the same fees as any other participant in the market.
Once the trader has demonstrated that he is an active trader, he will be
eligible to get the bonus, which is just a reward for the trader's decision that
will reimburse part of the trader's costs.
In addition, the European Securities and Markets Authority (ESMA) has imposed investor protection requirements on the promotion, distribution, or sale of CFDs to retail clients as of August 1, 2018. These regulations have been in effect since that day.
These ban brokers from providing the retail customer with any payment, monetary or excluding non-monetary advantage regarding the promotion, distribution, or sale of a CFD, other than the realized profits on any CFD that is offered. This can happen either directly or indirectly.
This indicates that a Deposit Bonus is not presently available for use with retail customers at this time.
A Forex deposit bonus of up to one hundred percent is available from LiteFinance. Clients have the ability to raise their deposits and receive more funds for trading thanks to this bonus option.
You are provided with a number of bonus program options, from which you may select the one that suits your trading needs the best. In addition, the firm is currently hosting a number of contests. Visit the website if you want additional information about this subject.
Platforms for Financial Trading, Software, and the Features It Offers
The platform is the name given to the forex trading software that is made available to the customers of a broker firm and is utilized by those customers in the execution of their transactions.
When referring to a platform, the term "multi-asset" refers to the fact that it enables customers to trade not only foreign exchange but also other asset classes, such as contracts for difference (CFDs) on stocks, stock indices, precious metals, and cryptocurrencies. A platform may also be multi-lingual.
What a customer wants to trade will play a significant role in determining which trading platform they should go with; thus, this factor will also be one of the factors they use to select a broker.
Traders who utilize LiteFinance have the option of using either MetaTrader4 or MetaTrader5, as well as the company's exclusive LiteFinance Social Trading platform.
This is the most well-known and widely used trading platform in the world. It offers tools not only for trading but also for analysis, making it extremely popular among traders everywhere.
The mobile applications for MT4 and MT5 were developed independently for use on Android and iOS devices. Traders should be aware of the many variances that exist between the two.
Accounts for the MT4 mobile app can be synchronized between desktop and mobile devices, whereas MT5 accounts can be accessed from both the mobile app and the desktop version of the software.
LiteFinance has developed its own own proprietary platform here. It is only accessible over the web, but it enables the profiling of traders according to their performance and, as a result, enables freshly registered traders to mimic the trading signals generated by more experienced traders. The following are some of the features:
Capability to mimic deals made by another trader in addition to monitoring that trader's performance
The capacity to search for traders and evaluate their performance in conjunction with their portfolio, history, and profits
Searching for instruments and then manually placing trades is one way to engage in trading manually.
Technical analysis may be carried out utilizing seven distinct chart types across nine different periods, in addition to over seventy-five different indicators and analytical tools, and much more.
Over the course of the past six or seven years, we have been witnesses to the
rapid and widespread expansion of the foreign exchange market around the globe.
There is hardly no region on earth that has not been involved in the foreign
exchange market (Forex trading). As was to be anticipated, the growth of the
foreign exchange trading market led to an increase in the number of brokers.
These brokers were created for the sole purpose of assisting individuals who
engage in foreign exchange trading to realize the best possible financial
outcomes from their investments. Because there are now a great many of these
Forex brokers, it may be really challenging for a person who is interested in
using these brokers to determine which broker they should actually employ. This
brings into light this review that was previously mentioned. This article will
present information on LiteFinance, which is just one example of many other
Forex brokers. LiteFinance is merely a drop in the ocean. This review may help
the readers decide which Forex broker is the most suitable for them by providing
information on the history of the company, the platforms it uses, the many
account kinds it offers, and a number of other sorts. Since its founding in
and reputation. In addition to that, the number of customers who have utilized
this broker and are quite pleased with what they obtained has been steadily
increasing over the course of the past year.
LiteFinance is a foreign exchange company that was launched in 2005 and is officially registered in the Marshall Islands, as we have already said. In addition, the Marshall Islands Business Corporation Act governs this Forex broker, and it adheres to the directives and regulations that the Act has imposed on all Forex brokers who are registered in Marshall Islands. This Forex broker is regulated by the Marshall Islands Business Corporation Act. LiteFinance has been honored with a wide variety of honors during the course of its history. The fact that these honors were bestowed in a variety of nations is significant in this context because it demonstrates the high caliber of services that this broker offers to customers located in all of those nations. Because the options are provided for those who do not want to trade with large amounts, as well as for those who are big players and who want to take risk by trading with large sums of money, as well as for those in the middle, what LiteFinance is doing really well is that it provides all clients with equal opportunities to trade. This is because the options are provided for those who do not want to trade with large amounts, as well as for those who are big players and who want to take risk by trading with large sums of money According to the official statistics provided by the firm, LiteFinance bases its business decisions on a number of guiding principles, and these are as follows:
Make the foreign exchange market accessible to all individuals, and work to provide opportunities for them all.
Make sure that the clients get the very finest individualized service that the industry has to offer.
Invite only the most qualified experts in their field to collaborate with both their customers and their employees.
Offer the clients the solutions that are both the greatest and the most effective ones that they can use when trading on the Forex market.
The previous information makes it abundantly clear that the client and the client's benefits are the primary focus of the LiteFinance broker. This is evident from the feedback that clients received after using this Forex broker, which demonstrates that the client is the primary focus of the LiteFinance broker.
In addition to placing the needs of its customers front and center, LiteFinance broker makes use of one of the most advanced trading platforms available for the foreign exchange market. The MetaTrade or MT 4 platform is the one that this particular forex broker uses, as is the case with many of the other platforms utilized by forex brokers. However, LiteFinance does not stop there; rather, in addition to supplying their customers with the MT 5 platform for forex brokers, LiteFinance also provides a variety of other services. In addition to these platforms, LiteFinance employs a web-based basic platform. This platform is typically utilized for monitoring positions rather than doing intricate and less difficult analyses. The primary reason for this is because the web-based platform is far easier to use, but it does not offer enough customization possibilities to accommodate the aforementioned responsibilities. However, the MT 4 and MT 5 platforms are available to carry out those studies that are more complicated.
When opening an account with this forex broker, customers have the option of selecting from one of four distinct types of account packages offered by LiteFinance. The CENT account is the initial sort of account, and it's the one that most novice traders should probably start with. Because customers are just required to deposit a certain number of cents into this account, it carries the least level of risk for those customers. The second kind of account is called a CLASSIC account, and it is the one that is ideal for forex traders who already have some prior expertise. With this particular sort of account, the spread is predetermined to be fixed, and the minimum is set at 2 points, while the leverage is set at 500. One hundred dollars is the bare minimum that must be deposited into this kind of account. The Electronic Communications Network account is the third variety of user profile that may be created. The bare minimum that must be deposited into this account is $500, and the leverage that may be utilized with this account is 1:400. In addition to all of this, the sort of account that we are discussing does not have Stop and Limit levels, which are features that are available in the types of accounts that we have discussed earlier. This Forex broker provides one more type of account, known as a PAMM account, for clients to choose from. The regular traders will not be able to do business with this sort of account since it was designed specifically for the purpose of handling the money of Forex investors.
The LiteFinance broker is now offering a wide variety of bonuses to clients who utilize their services. One kind of the incentives is the bonus that the customer receives when they choose the account that they will use going forward. For instance, the CENT and CLASSIC types of accounts both provide their customers a bonus of thirty percent of their initial deposit. Customers receive the same proportion of the incentive for any deposit that is greater than $100, provided that the deposit is at least $100.
When it comes to depositing funds, withdrawing funds, and making payments, LiteFinance broker offers their customers a wide variety of alternatives to choose from. WebMoney, Qiwi, Neteller, Skrill, Monetaru, OK Pay, PM, Boleto, and a great number of additional solutions are accessible to customers who would rather conduct financial transactions electronically. For some customers who would rather not use electronic transfers, LiteFinance made the option of a wire transfer available to them. In addition to these banking choices, a wide variety of credit and debit card options, including VISA, MasterCard, VISA Electron, Maestro, and a number of others, are also made available to customers.
One of the many drawbacks associated with using this Forex broker is the fact that it does not offer round-the-clock client service. Instead, the customer service is available for customers from Monday through Friday, from nine in the morning until nine in the evening. You may get in touch with the customer care department by telephone, e-mail, live chat, and even social networking sites like Facebook and Twitter.
A foreign exchange broker with offices in both Cyprus and the Marshall
Islands, LiteFinance was founded in 2011. LiteFinance (Europe) Limited is the
name under which the brokerage company is registered in Cyprus. The Cyprus
Securities and Exchange Commission is the body that oversees the broker (CySEC).
CySEC is, as is customary within the EU, accountable to the European Securities
and Markets Authority for monitoring and guidance (ESMA).
LiteFinance, on the other hand, is fully unregulated by any financial regulation in the Marshall Islands, which means that it is allowed to offer pretty much whatever trading terms it considers acceptable. This is because there are no financial regulators in the Marshall Islands. LiteFinance Investments Limited is the official name of the company as it is recorded in the Marshall Islands.
Despite the fact that LiteFinance explicitly states on its website that the Cayman Islands-based branch of LiteFinance Investments Limited does not accept clients from any EU or EEA country, there are examples of EU-based traders who have successfully signed up with this branch of the broker. LiteFinance Investments Limited is licensed and regulated by the Financial Services Commission of the Cayman Islands.
EU-based traders, who would ordinarily be allocated to trade with the entity that is regulated in Cyprus, now have the option of opening an account with the entity that is based in the Marshall Islands rather than trading with the business that is licensed in Cyprus. In this method, European traders are able to simply sidestep the stringent ESMA restrictions, which significantly restrict the amount of leverage that may be used in trading in Europe.
The underlying trading assets that are made available by LiteFinance include more than 50 different foreign exchange pairs and more than 20 different cryptocurrency pairings. This collection of underlying trading assets is actually quite a nice one. In addition, the broker provides its customers with the opportunity to trade the stocks of over 40 major American corporations, in addition to significant stock indexes and a variety of commodities contracts for difference (CFDs).
The only two trading platforms that LiteFinance has to offer are the MetaTrader 4 and 5, often known as MT4 and MT5, and traders have the option of using either one to trade any of the trading instruments that the broker provides. Even while this may appear to some traders to be tedious, it allows for a seamless transfer from other brokers' platforms for those traders who are already accustomed to working with those. Continuing to use MT4 and MT5 is advantageous for a number of reasons, one of which is that it assures access to the vast array of trading algorithms known as Expert Advisors, which are available for both platforms in the form of paid and unpaid trading methods.
LiteFinance provides its customers the option of opening either a "Classic" account or an ECN (electronic communications network) account when they sign up for an account with the company. Although the ECN account offers the lowest spreads by a significant margin, it does come with commission fees that are assessed on each transaction. The Classic account, on the other hand, has significantly larger spreads but does not charge a commission for transactions.
The ECN model typically ends out to be more advantageous for investors who have big trading accounts, whilst the Classic forex trading account is better suited for investors who trade on a smaller scale or who are just beginning their careers in the foreign exchange market.
The majority of credit and debit cards, bank wire transfers, and e-wallet services like Skrill and Neteller may be used to finance trading accounts at LiteFinance, in addition to the more traditional ways of funding that are also available. The well-known cryptocurrencies Bitcoin, Bitcoin Cash, Litecoin, and Ethereum are among the new payment systems that have been added to the list of those that can be used to fund an account with LiteFinance. In addition, LiteFinance has added a whole range of other payment systems to their list of those that they accept.
The live chat feature on the LiteFinance website allows customers to contact the company's customer care department at any time of the day or night. Traders from the LiteFinance community may talk to each other and offer assistance with a variety of problems in the specialized groups and online chats that the company has also established for the community. This is another one of the unique aspects of LiteFinance. Lastly, if you need assistance, you can call a phone number that is registered in the United Kingdom and is available from 9 a.m. to 9 p.m. (GMT+2), Monday through Friday.
To summarize everything, we think that LiteFinance is a respectable option for anyone who favors remaining on either the MetaTrader 4 or the MetaTrader 5 platform as a broker. Trading leverage might possibly be extremely high with this broker due to the fact that traders located in the EU may be able to join up with the offshore-based branch of LiteFinance. However, despite some recent improvements, spreads on LiteFinance remain very high in comparison to those offered by some of the company's other competitors.
LiteFinance is a cutting-edge, dependable ECN broker that has built a solid name for itself. Since 2005, the online ECN broker LiteFinance has been giving its customers access to Tier 1 liquidity in the stock market, as well as the markets for currencies and commodities. Trading is available at LiteFinance for all of the most important currency pairings and cross rates, as well as oil, precious metals, stock indexes, blue chip stocks, and the greatest selection of cryptocurrency pairs.
More than 1.5 million customers from every corner of the globe have given LiteFinance their stamp of approval, making it one of the most well-known forex brokers in the industry. The business has been recognized with a great number of accolades, including "Best Broker" titles in Africa, Asia, and Latin America, as well as "fastest-growing Broker" titles in Western Europe and Asia.
In addition to this, the broker has been listed on the "100 World Finance" international list that is compiled by Britain's top financial magazine, World Finance.
When it comes to opening an account with any of the forex brokers in the business, trust is one of the criteria that novice traders consider before making their decision. Because the broker is a participant in the Investment Compensation Fund (ICF), which shields users from financial loss in the event that the broker declares bankruptcy, we are able to conclude that the broker is reliable.
Both of these financial institutions have developed unique guidelines and policies for its brokers. The Marshall Islands, on the other hand, have policies that are lax and flexible.
In addition to that, the money contributed by users is stored in several distinct accounts that are maintained separate in the best institutions. In addition to this, the broker adheres to the Anti-Money Laundering policy, which mandates that all of its customers provide identity documentation.
The broker is subject to regulation and is a member of many agencies across the board. The money of a trader is protected, and it is risk-free to conduct business with that person.
The LiteFinance broker makes available to its clients a variety of trading platforms. The users of these platforms are assisted in the hassle-free trading of various financial instruments. The broker provides access to three different platforms, which are referred to as MetaTrader 4, LiteFinance Social Trading, and MetaTrader 5.
In addition to MT desktop versions, LiteFinance's customers may utilize WebTerminal, which allows them to trade directly from the browser of any computer, anywhere in the globe, and eliminates the need to install a desktop version on their computer.
Users of these three receive access to a variety of excellent features. Daily analysis, account management, pending orders, nine-time frames, drawing tools, and a great many others are just some of the options available.
Additionally, LiteFinance makes available for free download a variety of trading software designed for use on mobile devices and tablets (Android, iOS and other OS).
Clients of LiteFinance can choose between two different account kinds. For the opening balance of any sort of account, the minimum necessary amount is fifty dollars. In addition, all account holders get access to the social trading platform.
The greatest leverage that may be obtained for foreign clients is 1:500, but the maximum leverage that can be obtained for European clients is 1:30.
These are the various kinds of accounts:
The ECN account and the Classic account are the two basic active accounts that may be opened with LiteFinance Investments Limited.
LiteFinance promotes the real-trading ECN (Electronic Communications Network) account to experienced traders and investors. The ECN account stands for "Electronic Communications Network."
This account provides its users with an interest rate of 2.5 percent on any surplus money, an unlimited length of transactions, and direct delivery of trades to liquidity providers. ECN account customers are restricted to using just the MT4 trading platform. The variable spread begins at 0.1 basis points (pips). The charge begins at $5 per lot and goes up from there.
Classic Account: Traders with a significant amount of experience can open a Classic account. The initial floating spread is set at 1.8 pip levels. There is no payment for commissions, and the fees associated with the broker are included in the spread. Trading may be done on both the MT4 and MT5 platforms, which are both available.
Bitcoin, Bitcoin Cash, Dashcoin, Ethereum, Ethereum Classic, LiteCoin, Monero, Ripple, and ZCash are the cryptocurrencies that may be traded on the LiteFinance platform.
LiteFinance derives its revenue, in the form of fees, from the spread. Spreads are unique to the trading account as well as the asset that is being traded. The Classic account operates on a system based on spreads, whereas the ECN account operates on a system based on commissions. The commission fee is $5 per lot, and it is charged.
In addition, consumers have access to a plethora of payment methods that enable them to continue with the process of financing their accounts; some of these ways incur costs, while others are completely free of charge. In addition, money transfers to or from the account are subject to the applicable policies of the country in which you reside in addition to the entity rules of LiteFinance that are in effect.
When it comes to the fees associated with transferring funds, LiteFinance does not charge any fees for making deposits or withdrawals. Despite this, we advise all of our readers to get in touch with LiteFinance before opening an account with them so they can ask any questions they have about the costs involved.
The customer care team at LiteFinance is much more responsive than the help teams at the majority of the industry's other FX brokers. The consumer has the option of contacting the LiteFinance customer care service by email, live online chat, or the phone. Web chat, on the other hand, is the quickest way to get in touch with them. In addition, if you fill out the form on the LiteFinance broker contact us page, you can ask for a response to be sent to you.
The support crew is available from 9:00 am to 18:00 pm GMT, Monday through Friday, while the technical team is available around the clock.
When addressing customer concerns, the support staff is knowledgeable, courteous, and fluent in several languages, including English, Arabic, Malay, Portuguese, French, Vietnamese, Armenian, Bengali language, Korean, Azerbaijani, Uzbek, Norwegian, Persian, Russian, Indonesian, Spanish, Thai, Chinese, Hindi, Japanese, Turkish, Romanian, Hungarian, Swedish, Kazakh, and Georgian.
LiteFinance is a brand name that is owned and operated by LiteFinance Investments Limited, which is a company that is incorporated in the Marshall Islands with the registration number 63888 and is governed in line with the Marshall Islands Business Corporation Act.
Additionally, the company may be reached at the following location: Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.
Aside from that, the broker will also guarantee the safety of funds, which will endeavor to shield both your deposits and your earnings from unanticipated events.
When it comes to trading, on the other hand, LiteFinance claims that not only do they offer minimal commissions but that they also offer over 150 different instruments for traders to pick from.
LiteFinance is a dependable Forex broker that cares not only about your safety but also about your profitability; nonetheless, we always recommend that our readers conduct their own research before creating a live account. At least, we are able to declare that LiteFinance is a trustworthy Forex broker.
The foreign currency market is home to some of the most unpredictable
financial products that are traded on a worldwide scale. Because market
circumstances are constantly shifting, forex traders are always exposed to a
significant possibility of suffering financial losses. Foreign exchange trading
is still one of the most profitable markets in the world, despite the fact that
it is very unpredictable. Because of the complexity of this market, getting some
expert support and technical counsel from a broker is very necessary.
LiteFinance is one of the most well-known forex brokers in the world, and its
name is most commonly connected with the financial achievements of newcomers to
the trading community. In this analysis, we will take a look at numerous aspects
of LiteFinance that contribute to the company's standing as a reputable broker.
This LiteFinance review has covered all the bases for evaluating the broker in
an objective manner, from the competitive spreads, various services, and trading
skills it offers to the regulatory limits it faces and the transaction expenses
it incurs. The following review is beneficial not only for novice traders who
are just starting out but also for more seasoned investors who are looking to
advance their trading experience to the next level.
LiteFinance is an online broker that provides its services to clients located in a variety of countries across the world. 2005 saw the beginning of LiteFinance Investments Limited, the firm that would later become known as LiteFinance. This organization has more than a decade of expertise ensuring that the trade order quality of multi-domain financial services it provides to its customers located all over the world is of the highest standard. As of the year 2020, LiteFinance has more than 500,000 customers who trade actively on a daily basis with the broker. The Marshall Islands serve as the location of the corporation's operational headquarters, and the company has been doing business from there. In addition, the LiteFinance group operates branch offices in the countries of Kenya, Tanzania, Myanmar, Nicaragua, Indonesia, India, Ghana, Iran, Vietnam, Nigeria, and Nigeria.
Traders are obligated to take note of the fact that LiteFinance Europe Ltd operates as a separate legal organization. It is not affiliated with the LiteFinance company and conducts its operations on its own own. This firm provides brokerage services for LiteFinance's European customers on an exclusive basis. It provides its commercial services to nations that are members of the European Union. On the other hand, LiteFinance Investments Limited is a well-established CFD and forex broker that operates on a global scale.
LiteFinance, much like other forex brokers, is an online-only company that provides its services to customers through that medium alone. To begin, a new LiteFinance account has to be created, and then a minimum deposit needs to be made so that a trading account type may be chosen. Users are required to fill out an online registration form that can be found on the website of the firm in order to register a trading account. An online verification based on KYC requirements is carried out, and this is what authorizes the account. It usually takes around two days to verify and activate the account after it has been created. It is possible for the verification phase to take up to five days for customers in certain countries.
LiteFinance traders are given access to about 56 different currency pairs when registering a new trading account with the company. Additionally, the business allows for the trading of six commodities as well as sixteen different cryptocurrencies, and it is licensed to offer trading services for about 37 different US-listed equities CFDs. The organization allows for the trading of 11 different index CFDs, which helps to maintain the portfolio's diversity. The total number of instruments on the list that are supported by the firm is 126, and they are organized into many different asset classes. These instruments are excellent choices for retail traders who are just starting out. This list might not be sufficient for more experienced traders. It is now promoting on its webpage that it supports over 145 assets, which is evidence that the firm is working hard to increase its trading capabilities. As a result of the consistent growth of LiteFinance's tradable assets, it is anticipated that further assets will be added to its bandwagon in 2022 and beyond. Every investor working with this firm would benefit tremendously by having access to a wider variety of financial products.
According to the findings of the research, out of the 126 assets that are managed by LiteFinance Investments Limited, currency pairs are the most widely traded assets among all account holders. Both major and minor currency pairings are available for trading through the company's brokerage services. Additionally, it assists its customers in trading unusual currency pairs. Regarding the commodities, the investigation found that customers are given access to oil and gold commodities, both of which come with stable liquidity. CFDs on key global stock indices are what are traded through LiteFinance's stock indexes. The vast majority of these indices are featured in the Dow Jones US30 list. Because the organization also trades Bitcoin and other popular cryptocurrencies, it has become an alternative to the traditional FX markets, which have a significant risk of causing economic loss.
LiteFinance Investments Limited is an authorized provider of financial services, and as such, provides its customers with a wide variety of brokerages and trading tools. By providing customers with a unique economic calendar that is specifically tailored to match their needs, it makes it easier for clients to engage in profitable trading. It keeps its customers apprised of any potential dangers by maintaining an up-to-date news blog on the global market. It contains a margin calculator and a Fibonacci calculator for completing correct transactions. The organization provides extra access to the knowledgeable support of Claws & Horns for its customers. This analytical agency is a market leader, as indicated by the reviews, in terms of supplying the highest-quality analytical tools to its customers. In addition to its other advantages, LiteFinance also hosts contests and promotions for its users. However, at this time, neither a sign-up bonus nor a welcome offer of any kind is being provided to the customers of this business. There is now a special deal that may be taken advantage of to receive a refund on the deposits and fees.
LiteFinance offers two major accounts for live trading: the ECN account and the Classic account. This allows the company to service a diverse variety of customers. In addition to these accounts, one can also open a currency account that is compliant with Islamic law.
Demo Account: Just like any other forex broker, LiteFinance provides demo accounts to its clients so that they may test out the various features and services that it has to offer. These sample accounts are quite effective, and they properly imitate the trading tactics of the customers. When you use a demo account, you are not putting your money at risk in any way. Because creating one of these accounts is simple and does not involve providing any kind of verification information, the procedure for doing so may be completed in a little over a minute.
Classic Account: The LiteFinance Classic account is intended for new traders just starting out in the forex market. It does not levy any interest or commission fees on the earned money, nor does it charge any interest on the funds that are in surplus. These account holders have access to the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
ECN Account: The ECN account enables professional traders and investors to engage in actual trading using LiteFinance's Electronic Communications Network. This account may be used to conduct real trading. This account does not impose a time restriction on trades or transactions, but it does give an interest rate of 2.5 percent on funds that are in excess of their needs. It is possible to deliver the transactions straight to the liquidity providers. Nonetheless, only the MT4 platform is accessible with this particular account.
An Islamic account is a type of trading account in the foreign exchange market that is intended to facilitate the halal trading options of Islamic clients located in the Middle East and other regions of the world. Traders who, owing to their religious convictions, are not allowed to participate in transactions involving interest rates might use this account instead.
According to the feedback of a number of different users, the Classic account is both considerably easier to operate and more profitable than the ECN account. On the other hand, only transactions involving large volumes of trading units can be carried out from an ECN account. When trading using an ECN account, however, there is a significant possibility of incurring financial loss. It is not feasible to switch the kind of trading account once it has been opened since all of the trading accounts offered by LiteFinance belong to distinct web servers. As a consequence of this, customers are required to close any existing cent accounts before opening other kinds of accounts.
Spreads and payment methods are discussed in this section of the LiteFinance review.
The organization uses a one-of-a-kind price system to determine the spreads and commissions it provides for its customers. According to the feedback provided by online traders, the EUR/USD spread for ECN account holders begins at a very competitive 0.0 pips. Each individual lot will cost you $10.00 in commission for this spread. If the currency pair continues to do extraordinarily well, it is possible that this commission will be increased to $30.00 per lot. Commodity contract for difference (CFD) spread commissions run anywhere from fifty cents to twenty dollars each trade. The fee rate for deals involving cryptocurrencies is fixed at $0.50. Commission for trading equity CFDs is $0.25 per share. Trades can be made. Customers who open a commission-free Classic account receive increased floating spreads, which begin at 1.8 pip increments.
According to the ratings that can be found on several websites, swap prices only apply to overnight positions, and trading during normal market hours is free of swaps. In a similar manner, clients are affected by company operations such as splits, dividends, mergers, and the like, which have an effect on the value of index CFDs and shares. The broker maintains transparency in the price environment, and clients' swap-free portfolios have been updated accordingly. Additionally, the organization keeps an archive to monitor and record the average spreads, and this archive is updated on a weekly basis. Because separate trader agreements have been negotiated to charge zero inactivity fees, LiteFinance is chosen above other brokers. Other brokers do not have separate trader agreements. The fact that LiteFinance does not impose fees for deposits, withdrawals, or foreigner recharges is another another advantage offered by the company. Even if the prices of several assets rise to unsustainable levels throughout the course of trading, the broker's pricing structure should still be considered appropriate. Customers may perform an in-depth analysis of their transactions by seeing historical data on spreads.
According to the evaluations, LiteFinance generates revenue through the spread fees that are incorporated in the spread. The account and the asset that is being traded both factor into the calculation of the charge that is associated with each spread. The holders of Classic accounts are assessed a fee that is calculated based on the spread, whereas the holders of ECN accounts are assessed a fee that is calculated based on the commission. The total commission is payable at a rate of around $5 per lot on average. Although LiteFinance's spreads are among the most competitive in the industry, several of the most popular currency pairings have a spread of 2 pips, which is considered to be fairly large. There are also several significant indexes that begin trading with point spreads of one.
In addition to this, the reviews showed The firm provides the largest leverage possible, which is 1:500, and allows new customers to select the appropriate leverage when they sign up for an account. Because of these alternatives, they are able to execute their deals profitably. On the broker's website, you may find information on the leverage margins in further detail.
According to the evaluations left by previous customers, LiteFinance customers can use their credit cards or debit cards to make instantaneous deposits of additional amounts into their accounts. The card systems that are supported include Visa and Mastercard. There is also the option of making a bank transfer when depositing money. In addition, you may rapidly deposit money via online payment gateways and wallets like Skrill, Neteller, CentrePay, and WebMoney. These options are all available to you. The customers have access to a variety of payment methods, such as Yandex, Alipay, and Dengi. The broker requires a minimum deposit of fifty dollars before providing its services, and the processing of any and all payments is typically completed within twenty-four hours of the time the request was made. Customers have the ability to deposit funds into their accounts using cryptocurrencies such as Bitcoin. Every single financial transaction that is conducted with the broker needs to have a deposit of at least ten dollars. The minimum deposit required for wire transfers and bank deposits should be at least one hundred dollars.
In the context of this evaluation, an automated withdrawal service offered by LiteFinance was assessed based on its capacity to carry out withdrawals of up to $100 worth of clients' cash on a daily basis. E-wallet applications like Skrill, Neteller, and Perfect Money are used for all withdrawals, and each one is processed and sent to the bank accounts within twenty-four hours. On the other hand, depending on the provider, there may be fees associated with each and every withdrawal. It is essential to keep in mind that LiteFinance does not let its customers to utilize PayPal for the purpose of withdrawing money from their accounts.
Bitcoin, Bitcoin Cash, Ethereum, Bitcoin Gold, Monero, and Litecoin are the cryptocurrencies that may be used to charge Lite Forex accounts. Other cryptocurrencies may also be used. QIWI, M-Pesa, Boleto Bancario, Africa Mobile Money, and AdvCash are some more payment methods that may be used to make deposits or withdrawals of money. In addition, the firm provides promotional rewards in the form of a reimbursement of the clients' deposit costs to high-performing customers. Customers who run the danger of having a portion of their capital reduced owing to additional fees will benefit greatly from Lite Forex's provision of a number of different payment processing choices, which earns the company a good grade.
LiteFinance gives its customers access to two different trading platforms, which are known as MetaTrader 4 and MetaTrader 5. Both the MT4 and MT5 trading platforms have garnered widespread acclaim as reliable instruments for conducting business on a worldwide scale. Since LiteFinance began providing web-based platforms, traders may access MetaTrader 4 using the company's WebTrader interface. These platforms also come in the form of a smartphone application, which customers may use to begin investing whenever it is convenient for them. This was done to enable mobile trading.
According to the testimonials, the MT4 and MT5 platforms are easily downloaded and intuitive to use. When it comes to customisation, the web-based interface of MT4 is your best bet. Utilizing these platforms allows users to have access to numerous charts, which is the first advantage. The customer will have a better knowledge of the deal as well as the trading circumstances if they use either a line chart or a candlestick chart. When compared to the MT4 trading platform, the MT5 version provides a greater number of indicators. In the foreign exchange market, where there is always a significant possibility of incurring financial loss, the sophisticated analytic tools offered by MT5 as well as an integrated economic calendar may be of great assistance. The trading software offers trading signals for a total of 21 different periods, and the Depth of Market function contributes to the overall value of the transactions. MT4 is still the most popular platform among LiteFinance customers despite being significantly simpler to use. The most effective application for it is in the development and dissemination of original trading techniques.
According to the reports, the most fundamental versions of the MT4 and MT5 trading platforms are the most practical and straightforward to implement. Customers may learn how to utilize their updated versions by going through a series of tutorials and manuals that are provided to them. There are currently no third-party add-ons that are compatible with the MT4 or MT5 products. With the tools that are now available, there is a possibility that many traders may have an incomplete experience. Another disadvantage is that customers can invest their money in either the MT4 or MT5 account depending on their preference.
These trading platforms offer online access to their technical support staff in order to better serve their customer base. These platforms are available for usage around the clock, seven days a week, and at no cost in every nation on earth. The scope of LiteFinance's customer support services is constrained by a number of reasons. It's possible that trading is only allowed during certain hours of the day on a currency market. Under these circumstances, it is impossible for the support team to produce timely results. If customers want to trade stocks on the weekends, they won't be able to get help from customer care because it's not available. Being active solely during the weekdays has the effect of reducing the profit margins of their business as well as the profitability of their trade. Any adjustments made to the typical trading hours will have an immediate impact on the services provided by the broker. A market news trading blog maintains an up-to-date list of the traders' individual server times for the traders.
Communication options such as e-mail, live chat, and telephone calls should be made available to customers by a reliable customer service team. Access to these live chat rooms on the website is controlled by the firm and is subject to certain restrictions. The official e-mail address for the firm is clients@LiteFinance.com, and it responds to messages more quickly than their phone number, which is 88007072963. In addition, the customer support staff is able to assist customers with problems with internal financial transfers and administrative controls. Trading using social networks such as Facebook and Twitter is supported by LiteFinance. In addition to this, it assists customers in sharing their social trading activities on social media platforms such as Instagram, LinkedIn, YouTube, and Telegram.
Is it Safe to Use LiteFinance? The results of a regulatory examination of this broker are favorable. LiteFinance is in no way a fraudulent business. If LiteFinance Investments Limited was a fraudulent business, a number of market regulators would not have allowed it to register. The organization offers its services on trustworthy and protected platforms, and it was modeled after an investment firm based in Cyprus. Multiple firewalls are in place to provide protection for the website. The web servers are separated from each other. The data that is going into and coming out of the website as well as the platforms is protected by channels that are SSL-secured and encrypted. Through its website, LiteFinance offers a virtual private server hosting service (VPS hosting), which may be used to manage trades in the event that on-premise servers are unavailable. LiteFinance is not from other brokers in that it does not require a constant internet connection.
Both LiteFinance Investments Limited and LiteFinance Globe Services Ltd are governed by the Marshall Islands Business Corporation Act, which requires them to be registered in the Marshall Islands (the registered account number for both companies is 63888). Officially, the headquarters of the corporation may be found at a location that is registered on Ajeltake Road on the Ajeltake Island in Majuro, Marshall Islands MH96960. The broker welcomes customers from the United Arab Emirates, Canada, Australia, the United Kingdom, Thailand, Singapore, South Africa, India, Hong Kong, Germany, France, Sweden, Norway, Denmark, and Hong Kong. It may also be purchased in most other nations, including Saudi Arabia, Luxembourg, Kuwait, and Qatar, amongst others. Traders in the United States, Israel, and Japan should avoid using this broker because of the lack of adequate safety measures.
According to the results of our analysis, LiteFinance is an excellent broker
for the foreign exchange markets. Since 2005, the broker that is registered in
the Marshall Islands has been operating in this market, and the fact that it is
still around today demonstrates why it is considered to be the most dependable
forex broker in the whole globe. According to the analysis, this firm is both a
significant player and a well-established component in the sector. The study
also identifies that it adheres to ethical standards when it comes to the
investment of money and the generation of capital entry thresholds. It is the
only broker in the industry to support the industry's most cost-effective
minimum deposit requirements. Positive comments have been made about LiteFinance
as a result of the fact that the firm assists its customers in becoming familiar
with the intricate forex trading environment. The broker scores highly on
practically all of the evaluation parameters, including its live trading
features, its competitive spreads, and its other trading options. It is
anticipated that LiteFinance will continue to be appealing to traders as a
result of the high-quality trading services it provides and the evolving asset
listings it offers.
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LiteFinance was initially established in 2005 and initially went by the name LiteFinance. It provides investors with access to the basic MT4 and MT5 trading platforms, credible third-party research, and an asset selection that is always growing, particularly with regard to cryptocurrency. I carried out a comprehensive analysis of the newly renamed LiteFinance, which requires a deposit of at least $50, has a maximum leverage of 1:500, and possesses its own clone trading platform. Should you avoid using LiteFinance since it does not maintain a trustworthy and competitive trading environment, or should you use it?
LiteFinance: The initial impressions:
Trading platform based on the web that is lightweight and has an intuitive user interface
A diverse offering of cryptocurrencies offered by a forex broker, the popularity of which is only growing.
Claws & Horns, an independent research firm, conducted the study.
Acceptance of Bitcoin (Bitcoin) as a payment method
Non-European Economic Area Traders are permitted a low minimum deposit while enjoying high leverage.
CySEC's subsidiary for serving customers in the EEA
In-house copy-trading solution that is integrated into the company's web-based trading platform
Since the website underwent a rebranding from LiteFinance to LiteFinance, there has been a lack of openness in the description of its products and services, particularly the price of ECN trading.
There is no customer assistance provided, and there is no frequently asked questions area.
LiteFinance, formerly known as LiteFinance, is experiencing persistent technical troubles, allegations of canceled withdrawals, and an increase in fraud accusations.
The company's headquarters were mysteriously relocated from the Marshall Islands to St. Vincent and the Grenadines about the same time as the number of fraud reports was climbing at an alarming rate.
Trading with a broker who is subject to regulation will reduce the risk of being a victim of fraud or malpractice. Traders should always check for regulation and verify it with the regulator by confirming the given license with their database. This may be done by providing the license number. Traders based in the EEA, UAE, and Marshall Islands are all serviced by a single regulated subsidiary that LiteFinance operates.
Traders can choose from the following cost structures when using LiteFinance:
A Classic account that does not charge commission for trades but has a high minimum spread of 1.8 pips, or $18.00 per round lot.
The raw spreads on the ECN account are shown as 0.0 pips, while the commission ranges from $10.00 to $30.00 for each 1.0 round lot traded.
A flat charge of 0.12 percent is applied to the purchase of cryptocurrencies.
The costs for equities CFDs are $0.25 per share, but the fees for commodity CFDs range from $0.50 to $20.00 per contract.
The charges associated with trading on LiteFinance are at least twice as high as those of its typical rival.
Raw spreads are available through the ECN account; nevertheless, the hefty commissions make it somewhat pricey.
LiteFinance does not provide clear price information, and the charges that were previously associated with LiteFinance have apparently been retained despite the company's rebranding.
LiteFinance has been a successful participant in the online brokerage sector for more than 15 years, and the company has offices in countries all over the world. Traders can choose from a variety of account types and options for buying, selling, and swapping foreign currency through the European operations of the company, which are headquartered in Cyprus. These operations also maintain a low-cost structure that is in full compliance with EU financial regulations.
The brokerage solution that is provided by LiteFinance Europe is built upon cost, convenience of account financing, better financial markets analysis, and investor education that equips users with the capacity to develop their trading abilities and attain financial freedom. On the LiteFinance website, you will find outstanding financial analyses, as well as a range of tutorials and how-to guides. These will help inexperienced traders get up to speed, while also giving experienced investors with the in-depth knowledge they seek.
Traders who use LiteFinance have the option of using either MetaTrader 4 or MetaTrader 5 as the platform for their transactional activity. Users will have access to trade on their mobile devices and desktop computers throughout the clock, while data privacy and program stability will be maintained. An already amazing service offering is made even more reliable by the fact that the broker provides great customer support, which can be reached throughout the day and night on the majority of the days of the week.
Because of the numerous investor education tools that are made available on the website and because of the brokerage's connection with Claws & Horns, which provides added value, LiteFinance comes highly recommended for traders with a wide range of degrees of expertise. Traders who utilize the MetaTrader platform, which is the standard for the industry, will benefit from competitive spreads as well as a transparent fee structure. These advantages will be available to traders who focus primarily on major and exotic currency pairs.
The website of the broker provides access to a plethora of investor education tools and financial news articles, all of which are geared to offer traders an advantage in the highly competitive global financial markets.
The Classic account does not charge any commissions and instead incorporates a markup within the several spreads that are made available by LiteFinance. This account has a low fee structure.
The onboarding procedure is quite straightforward; users can quickly create a new account, fund it using any of a number of different payment options, and begin trading with very little wait.
Outstanding support for customers is provided in the form of technical assistance that can be reached by phone or by live chat around the clock, five days a week.
This firm is a registered broker that operates out of Cyprus, which is a state that is a part of the European Union and is located in Southern Europe. As a consequence of this, the Cyprus Securities and Exchange Commission oversees all aspects of trading as well as customer activities. As was mentioned earlier, investors in this jurisdiction can get compensation of up to 20,000 Euros for their non-professional trading accounts in the event that their brokerage goes out of business.
Traders who are contemplating making use of the numerous advantages that come with having a LiteFinance account will want to make a cost-benefit analysis of the situation, keeping in mind that the firm is based in a nation that has a robust regulatory framework.
This broker has a low-cost structure that may be attributed to the spreads that are offered on its many different asset classes. These spreads include a markup that is already built in. Because of this, it's possible that trading particular currency pairings will prove to be less profitable in the long run. In spite of this, the total rates that are available to traders are still extremely competitive in comparison to other online brokers offering comparable services. In addition, after the customer's funds have been verified as authentic, any deposit fees will be instantly reimbursed and returned back to their account balance.
It is important to note that the two main types of accounts that LiteFinance offers each have a slightly different pricing structure. The Classic account, which has been described in further detail above, does not charge any fees and includes a markup in the spreads. On the other hand, the ECN account, which is designed for professional and institutional customers, levies a fixed commission of $5 per round trip per lot. This fee is applicable to all trades.
Because LiteFinance operates in a number of different countries across the world, the amount of leverage that is made accessible to users varies depending on the location from which they use the platform. In accordance with the laws of the European Union (the regulations of the ESMA, which went into effect in March 2018), the maximum leverage that can be used to foreign exchange transactions is 30:1. It's possible that this broker will provide traders situated in other locations with better ratios.
When it comes to trading platforms, customers have the option of selecting either MetaTrader 4 or MetaTrader 5. This program is the industry standard, and it comes with a plethora of features and advantages. It is known for the data security measures it offers, the analytics tools it provides, and the rapid execution speeds it achieves.
This broker offers a copy trading service that is both dependable and interesting, and it also serves in the capacity of a social media network. Users have the ability to observe the trades made by account holders with the highest rankings and replicate the successful techniques that traders employ as they work each day to improve their own performance.
The negative balance protection feature, which is applicable to both types of accounts, is an additional advantage that is connected to the restrictions that the European Union has imposed on the financial markets. The Cyprus Investor Compensation Fund protects retail trading accounts (accounts that do not belong to professional or institutional investors) up to a maximum value of 20,000 euros in the event that a broker goes out of business.
As a result of the enormous investments made by this broker in the functioning and navigability of their website, prospective traders are given a good first impression. On its website, LiteFinance provides a wealth of details on the various types of accounts and assets that may be bought and sold using the company's platform. Information about how to get in touch with customer service is prominently provided to facilitate easy connection with the support team.
This brokerage has an easy-to-use method for onboarding new customers, which includes giving consumers the opportunity to sign up for a sample account that is compatible with MT4 and MT5. The process of depositing and withdrawing cash is likewise quite simple, and it should not be difficult for traders of any degree of competence to do any of these tasks.
The website of the broker provides access to a wide variety of instructional resources pertaining to currency trading, which is another advantage. These include walkthroughs and synopses of well-known books on investing, economics, and financial markets, as well as the option to have access to professional analysis through a relationship with a source of financial insights called Claws & Horns.
Because of the variety of account types it offers and the richness of financial information it makes available to account holders, LiteFinance is, all things considered, an outstanding option for both novice traders and experienced market participants. Private investors who are primarily interested in forex pairs and who value transparency and competitive pricing will profit, in particular from this broker's service. Those investors should focus their attention on forex pairs.
Please be aware that the services offered by LiteFinance Europe Limited
(LiteFinance.eu), which are supervised by the Cyprus Securities and Exchange
Commission, were the primary focus of our evaluation of the company (CySEC). Our
experiments were carried out on a Classic Account through the use of the
MetaTrader 4 trading platform. There may be some differences in the functions
and services available to you based on where you live.
LiteFinance is a broker that began operations in 2005 and provides access to foreign exchange as well as CFDs on commodities, indices, equities, and cryptocurrencies. Trading may be done on LiteFinance using either the company's own online interface or its mobile app. The widely used MetaTrader platform is also made accessible for use on desktop computers. LiteFinance is a non-dealing desk, Straight Through Processing (STP), broker, which means that customer orders are sent straight from the company to liquidity providers. St. Vincent and the Grenadines is the jurisdiction in which LiteFinance Global was established as a corporation. LiteFinance's European subsidiary is supervised by the Cyprus Securities and Exchange Commission and has its headquarters in Limassol, which is located on the island of Cyprus (CySEC).
We conducted an analysis of LiteFinance based on the following nine criteria: Trust and Stability, Fees, Tradable Instruments, Account Types, Deposit and Withdrawal, Research, Customer Support, Education, and Platform and Tools.
LiteFinance succeeded in the field of platforms, offering not just the popular MetaTrader platform for desktop computers, but also a cutting-edge, in-house developed online platform and mobile application. Another area in which this broker excels is research; they have a regular stream of studies and helpful tools that they make available to their customers.
When it comes to fees, we discovered that there is potential for improvement because certain instruments have quite large spreads.
Copy Trading and a demo account are also helpful tools for novice traders, in addition to the intuitive online interface.
Through the use of an ECN account, algorithmic trading in MetaTrader, and VPS hosting, advanced traders have access to spreads that are significantly narrower.
What Makes LiteFinance Different from Other Brokers in the Industry?
Copy Trading is one of the many built-in tools that can be found on LiteFinance's one-of-a-kind web-based trading platform, which is also very easy to use. This broker stands out from others since it offers an extensive library of educational films that go into detail about various trading tactics. Personal account managers who are able to provide clients direction and help are available to clients of LiteFinance.
Which sorts of traders are likely to find success with LiteFinance? Because it provides useful research and instructional resources, as well as having an easy-to-use interface, LiteFinance is an excellent choice for beginning traders looking for a broker. The Classic Account's spreads are rather wide, which may be off-putting for aggressive or advanced traders. However, the ECN Account offers spreads that are more competitive than those offered by the Classic Account. The algorithmic trading features of the MetaTrader platform might be useful for experienced traders. Traders can gain from using MetaTrader.
CySEC, a Tier 1 regulator, supervises LiteFinance Europe. Negative balance protection is offered to customers, and their money is kept in separate accounts for security. According to our evaluation, LiteFinance's level of openness is about par for the course.
There are several tiers of protection, each provided by a unique regulator.
Customers in Europe who trade with LiteFinance get the benefit of being regulated by the Cyprus Securities and Exchange Commission (CySEC). Clients are required to have negative balance protection as part of CySEC's requirements, which implies that they cannot lose more money than they initially deposited. When clients trade with a broker who is regulated by CySEC, their money are protected by the Investor Compensation Fund (ICF) for a maximum of €20,000.
A trader who is employed by a broker business that is regulated abroad, on the other hand, is not always assured to get these perks.
When conducting our evaluations under the Trust category, we take into account a variety of aspects, including those pertaining to stability and transparency. In this section, we concentrate on the length of time that the broker has been in business, the size of the organization, and the degree to which they are transparent in terms of the information that is easily accessible.
LiteFinance has been in business and providing services to customers for the past 17 years. According to the LinkedIn page for the firm, the worldwide organization employs somewhere between 51 and 200 workers and is headquartered in the Marshall Islands. According to our findings, LiteFinance exhibited an appropriate level of openness in its regulatory status. Additionally, the company has a page on its website that is dedicated to its legal documentation.
In the Trading Assets area of its website, LiteFinance provides an explanation of spreads and swap costs. The fees associated with withdrawals are detailed in the part of the customer site devoted to finances. On the website, there is very little information about the management, and much less about the history of the organization. When compared to other companies in the sector, we found LiteFinance to have an average level of transparency.
On April 20th, 2022, at eight in the morning and four in the afternoon GMT, we used the MetaTrader 4 platform to evaluate the spreads offered by LiteFinance across a variety of asset classes. When the London market opens at 8 AM GMT, there is a significant amount of liquidity in the foreign exchange market, and the spreads between currency pairings are narrower. 4 o'clock local time corresponds to the middle of the New York trading session.
The spreads and fees offered by LiteFinance are not particularly competitive. It's possible that it won't make much of a difference for novices and casual traders, but for active traders, it can be a barrier that needs to be passed before they can achieve profitability.
There are other beneficial features that are built in, such as the availability of sentiment data, which will show you the percentage of customers who are buyers and sellers respectively. Traders are able to categorize instruments according to their level of popularity and volatility, which makes it possible to determine the assets and market movers that will be in play for the day. The search tool is helpful and makes it simple to bring up a variety of trading instruments in a short amount of time. There is a limited amount of customization available for the platform's layout, which is one of the platform's drawbacks.
The LiteFinance online interface is simple to use and has several tools that traders find useful, like watchlists, one-click trading, and trading directly from the chart. Because the ability to Copy Trades is pre-built into the site, it is quite simple to go through different traders and immediately begin imitating their trades.
LiteFinance makes the LiteFinance mobile app, which can be downloaded for free on both Android and iOS devices, available for mobile trading. The mobile application offers the same kinds of functions and orders as the online platform does. Traders have access to a variety of tools, including watchlists, which allow them to monitor their preferred instruments, one-click trading, which allows for the placing of orders more quickly, trading from the chart, Copy Trading, and comprehensive TradingView charts.
Trading can be done easily while on the road, and the app also lets you keep track of your portfolio and trading history. The software also supports deposits and withdrawals, in addition to providing chat help for users.
Contracts for differences, often known as CFDs, are a type of financial derivative instrument that enable investors to speculate in multiple markets without really holding the assets that are being traded. The following are examples of instruments that may be traded using LiteFinance:
57 different currency pairs A currency pair consists of two distinct currencies, with the value of each currency being quoted in relation to the value of the other currency in the pair. For instance, the EUR/USD pair displays the value of one euro as expressed in terms of another currency, the dollar.
CFDs on 11 different indexes A market sector, the stocks on an exchange, or an entire nation's economy may all be evaluated with the use of an index, which is a collection of trading instruments.
85 Stock CFDs. A stock is a type of instrument that reflects a shareholder's proportionate ownership in a company. When trading stock CFDs, it is important to keep in mind that you are speculating on the price of a stock without really owning ownership of the firm that the stock represents.
4 Commodity Contracts for Difference. Raw materials, including gold, oil, and metals, are examples of commodities.
Support is available by phone, live chat, and email around the clock, 24 hours a day. Support was accessible and helpful when we used live chat and email, but we were unable to reach anyone by phone.
The significant degree of leverage that is now accessible is one of the features that traders find appealing about the CFD and FX markets. To expand the size of your trading positions beyond what would be achievable with only the cash that is now available in your account, you may make use of something called leverage. Leverage is the utilization of borrowed money.
The highest leverage that may be used when trading with a Classic Account at LiteFinance Europe is 1:30. This indicates that you may control up to €30,000 worth of positions in the market with an account that has as little as €1,000. The leverage offered by the offshore firm is 1:500, and 1:1000 is available on demand.
One of the most common metaphors for leverage is that of a "double-edged sword," referring to the fact that it has the potential to both aid and harm the user. Traders need to keep in mind that it has the potential to magnify both their gains and their losses.
Customers of LiteFinance get access to both the technical and fundamental studies compiled by an independent research organization known as Claws&Horns. Multiple updates are made available each and every day. In addition, the web trading platform provides users with a feed for analytics as well as a number of helpful features. Research resources provided by LiteFinance are designed to be accessible to both novice and experienced traders.
LiteFinance delivers a strong offering for new traders thanks to its user-friendly platform and comprehensive collection of trading tools. Although the costs are not particularly low compared to those of other brokers, this may not be a major consideration for casual traders. The availability of dependable help by chat and email, in addition to a personal account manager, are all positive aspects of this broker. Traders that conduct business with the European organization are afforded the safeguards that are given by CySEC. Those who trade using an offshore organization have access to a wider variety of markets and higher leverage, but they should be aware that regulatory scrutiny is less stringent in these transactions.
LiteFinance Investments Limited is registered with the Marshall Islands Business Services (MIBS) under the number MH96960. This company is authorized by the Cyprus Securities and Exchange Commission (CySEC).
LiteFinance is a broker that has been in business since 2008 and offers both Social trading and ECN trading settings by utilizing a well-liked and well acknowledged technology that is based on the MT4 and MT5 platforms.
You will be able to take use of this technology, which is presently the most advanced solution available. It enables incredibly rapid execution rates and the most attractive quotations, with spreads starting from zero pip increments.
The establishment of LiteFinance's global development began with the opening of an office in Cyprus, followed by the opening of an international office in the Marshall Islands.
Despite the fact that LiteFinance is a registered broker, the company has had some complaints and difficulties with traders in the past. These traders stated that LiteFinance provides non-transparent conditions, which is why there were some questions about the company's dependability.
However, at this time, we can see that the broker has cleared its record as a result of additional brokers signing up for its service as well as regulatory oversight from the European CySEC and ESMA regulations giving additional layers of protection. Nevertheless, we still advise that you conduct your own research on LiteFinance Review as well to determine whether or not it is an appropriate broker for your requirements.
LiteFinance has been in business for a very long time, has excellent trading technology, operates in an ECN environment, has a low minimum deposit requirement, and offers social trading. Forex trading conditions now favor narrow spreads.
The spreads are high for stock trading, international trading is conducted through an offshore firm located in the Marshall Islands, and some traders have had poor experiences with the company. These are the negative aspects.
No, LiteFinance is not a fraud. One of the entities that makes up LiteFinance is situated in Cyprus, and it is licensed and set up in accordance with the regulatory duties and standards set forth by CySEC. LiteFinance is also compatible with the MiFID European legislation. However, international affairs are handled by an entity known as the Marshall Islands.
How can you ensure your safety when trading on LiteFinance? A client is treated fairly in accordance with the international laws and requirements while authorities stand behind traders and protect claims or concerns regarding the operation. Obviously, the regulatory status is the most important measure you should always check. To put it another way: it means that claims or concerns regarding the operation are protected by authorities.
Therefore, if you are trading with the LiteFinance Cyprus business, you have the ability to denounce any incidents of violence to CySEC, even though CySEC is continually monitoring on the operations of the broker as well as the environment it offers. Additionally, the funds of the traders are kept separate from the funds of the organization, and the adoption of the standard provides security for investments.
Nevertheless, various authorities implement modified regulation in accordance with its legislation and special laws; as a consequence, the outcomes may differ from those of the entity or regulator or another.
In a similar vein, LiteFinance worldwide has its headquarters in the offshore location of the Marshall Islands, which is considered to be a somewhat non-regulated business due to the fact that its regulations are rather lax and do not offer substantial customer protection. Therefore, you should always make sure to study better under whatever company you trade and what protection requirements are applicable to you, but we believe that it is in our best interest to register an account in accordance with the laws of the European ESMA.
While overseas traders were actually still allowed a rather high leverage ratio of up to 1:500 on Forex products, LiteFinance was compliant with the criteria set by the European Securities and Markets Authority (ESMA) since it is a European broker.
LiteFinance has two different account types, both of which are compatible with the STP and ECN execution methods. The Standard Account has all expenses incorporated into the spread, while the ECN Account has a raw spread as well as a commission fee as a trading cost.
How to open an account: The process of creating an account is completely digital and intuitive, and you will be walked through each stage of the process step-by-step. During this step of your identity verification, which is required due to rules, it will be necessary for you to submit your identification document as well as your registration for your place of residence.
You have access to a wide variety of goods, such as the well-known foreign exchange market (Forex), various metals and commodities, oil, and global stock indices that are traded using CFDs.
Depending on the type of LiteFinance account that you choose, you will either have to pay a commission per lot and obtain interbank spread starting at 0 pip or get defined fee conditions based on the spread alone starting at a price of 2 points. Please refer to the following table for more fee information.
If you choose the Standard account, you will see that the floating spread for the EUR/USD pair is an average of 2.2, but the ECN account provides a floating spread of just 0.1 for the same pair in addition to a commission of 10 dollars.
Even if the spread on the regular account could be a little bit higher when compared to other industry alternatives, you should always be sure to check out all of the trading offerings, because even a pretty large spread might still be a fantastic bargain.
Both the MT4 and MT5 platforms, along with its more recent iteration, do not need a comprehensive introduction because they are well-known and widely used. They are also available in a variety of formats, such as Web Trading, which does not require installation and is simple to access.
Desktop Platform: However, if you want to do detailed analyses and engage in day trading, you should use a desktop platform. LiteFinance MT may be used on any device, including a MAC or a PC.
Additionally, the platforms have been improved to include automated trading and social trading features, as well as extra sophisticated order types. There are no limits placed on trading techniques.
One other thing to acknowledge is that the platforms are equipped with excellent analysis tools. These tools include algorithmic rules, indicators, Autochartist, and social trading capabilities. Additionally, analytical materials from Claws & Horns may be found on these platforms.
It should come as no surprise that MT4 and MT5 are the two most popular trading platforms available today; both are widely used throughout the business and are widely acknowledged as being among the very finest options available to traders of any size or approach.
Mobile trading platforms for both iOS and Android are included in the bundle. These platforms provide you complete control over your trading account in addition to providing alerts and push notifications.
One further advantageous feature of its proposition is the provision of customer service via a variety of channels, such as online live chat, the telephone, emails, and so on.
In addition, there are established centers in a variety of countries, which means that Europe and the rest of the world are covered; however, customer assistance is only accessible during working days 24 hours a day, seven days a week.
In general, LiteFinance has been in business for quite some time and offers a trading environment that is well-balanced and ideal for a variety of trading strategies, account sizes, and levels of expertise. We have to acknowledge that LiteFinance offers strong analytical tools and technological solutions; in addition, their prices are rather competitive when compared to those of other companies in the sector.
Despite this, there were a large number of claims and complaints from traders all over the world, which presented an astonishing collection of problems that were encountered by them throughout their time spent trading. Of course, some of them could not be what they appear to be, but we would still advocate doing business with the Cyprus firm since it provides an additional degree of safety. Before you join up with LiteFinance, you should do your own research and read our review of the platform.
Sites like LiteFinance in the UAE
Here is a list of quality Forex, CFD, Stock and Crypto Brokers for new and professional traders living in the UAE:
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.