LiteFinance review

LiteFinance

LiteFinance (was LiteForex) is an online ECN broker that has been on the Forex brokerage scene since 2005. LiteFinance offers its clients access to Tier 1 liquidity in various markets such as Forex currencies, commodities, stocks, and cryptocurrencies. The broker provides a safe and user-friendly online trading platform available in 15 languages, along with a range of tools for price chart analysis. Traders can also use the popular MetaTrader 4 (MT4)  and MetaTrader 5 (MT5) platforms. LiteFinance tries to establish itself as a provider of high performance, low spreads, market execution without requotes, professional assistance, and access to exclusive analytical materials and signals. In November 2021, the company rebranded to LiteFinance, entering a new phase of development focusing on creating innovative financial and investment products. Some notable features and benefits of LiteFinance include ECN technology, direct trading with liquidity providers, instant execution, no requotes or conflicts of interest, and no limitations on trading strategies. All strategies can be used on LiteFinance platforms, and EAs are allowed. They also provide a social trading platform for copying trades, an affiliate program with multilevel commissions, automated fund withdrawals, and a quick and easy registration process with low initial deposit requirements. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is registered in Saint Vincent and the Grenadines. Additionally, LiteFinance periodically offers demo contests with a prize of 4000 USD and deposit bonuses for traders. Both the broker’s website and support are offered in 12 different languages. The broker offers multiple support channels including live chat, Email support, hotline, and online form.  

Countries

Afghanistan, Albania, Algeria, Andorra +141 more

Regulations

CySEC

Account currencies

EUR, USD

Assets

CFDs on Stocks, Crypto CFDs, Energies, Indices, Precious metals

Platforms

MT4, MT5

Deposit methods

Bank Transfer, Boleto, Credit Card, Crypto, M-Pesa, Perfect Money, Alipay, African Mobile Money

Others

Segregated accounts, Copy trading, Demo account, ECN, Exotic Pairs, Expert Advisors, Fast withdrawals, Hedging allowed, High leverage, Lowest minimum deposit, Lowest spreads, Micro Lots, Negative balance protection, PAMM, Part of compensation scheme, Provides webinars and seminars, Signals, Swap-free

Promos

Demo tournaments

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LiteFinance caters to different trading styles with two account types designed for scalpers, day traders, and swing traders. These are the ECN and classic accounts, both offering leverage of up to 1:1000. It's important to note that CySEC regulations limit leverage to 1:30, but depending on the jurisdiction, LiteFinance can provide leverage up to 1:1000. The ECN account features floating spreads starting from 0.0 pips. However, it charges varying trading commissions based on the instruments traded. For Forex majors, the commission is 10 USD per lot round turn, for Forex crosses around 20 USD per lot, and Forex minors have a commission of 30 USD per standard lot traded. It's worth mentioning that these commissions are higher than the industry average of 7 USD round turn, which makes trading with 0 spreads on LiteFinance platforms relatively more expensive. On the other hand, the classic account is commission-free, but the spreads start from 1.8 pips, which is higher than the industry average of 1 pip. Both trading accounts have a moderate minimum deposit requirement of 50 USD, and LiteFinance also supports Islamic accounts. LiteFinance provides a diverse range of educational resources and market research tools. Traders can access live webinars, glossaries, books, and trading strategies from expert traders. The platform also offers economic calendars, analytics, calculators, and market news. Additionally, LiteFinance offers VPS services and copy trading options for investors, with comprehensive (FAQs) available. Overall, LiteFinance is a legitimate broker with extensive experience and average trading conditions, especially suitable for those looking for small initial deposit requirements.

FAQs about LiteFinance

Is LiteFinance broker legit?

Yes, LiteFinance is a legitimate broker regulated by CySEC. It has been on the brokerage scene since 2005, which makes it a legit broker with extensive experience in the industry.

Is LiteFinance safe?

LiteFinance provides a secure trading environment with regulatory oversight and robust security measures. The broker offers negative balance protection, utilizes segregated accounts, and is part of the investor compensation fund.

What is the minimum deposit for LiteFinance?

The minimum deposit for both ECN and Classic trading accounts at LiteFinance starts from 50 USD. All deposit commissions are waved back at traders' accounts and automatic withdrawals can be set.