How Works LiteForex Minimum Deposit Amount Globally?

Establishing this broker's journey in 2005, now they built their empire in over 200 countries.

013, Sep 2021

In the modern trading world, huge numbers of traders point out LiteForex as a go-to platform. Establishing their journey in 2005, they built their empire in over 200 countries.

And the world was surprised when they revealed the cent account with a $10 minimum deposit. For this reason, a lot of people start their careers by investing in Forex. Here full LiteForex review.

 

LiteForex: At a glance

Established

2005

Address

Ajeltake Road, Ajeltake Island, Majuro, MH96960, Marshall Islands

Minimum Trade Size

0.01

Maximum Leverage

1:1000

Minimum Deposit

$50

Trading Platforms

MT4, MT5, WebTrader

EAs/Robots

Yes

Contacts

clients@liteforex.com, 88007072963

Web Trading

Yes

News Spike Trading

Yes

Mobile Trading

Yes

Scalping

Yes

ECN

Yes

ZuluTrade

No

Regulations

CySEC, FCA, MI

Currencies

50+

MAM

No

PAMM

No

Copy Trading

Yes

Deposit Methods

Wire Transfer, VISA, MasterCard, Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Litecoin, Monero,Tether, XRP, Skrill, Neteller, FasaPay, Perfect Money, Webmoney, Local Bank Transfers, Qiwi, Yandex Money

 

What is the Minimum Deposit at Forex Market?

In trading, a minimum deposit is the initial money that is needed to open a live trade. Most brokers require a minimum deposit. Brokers require this minimum deposit for maintaining account opening costs and ensure the profitability of the account owner. The more you deposit, the more you are able to trade and have a chance to earn profits.

Very simple, right?

❝The LiteForex minimum deposit is $50. But for the cent account, the minimum deposit is $10❞

 

Pros

Cons

Low minimum deposit amount

None

Cent account for beginners

 

Multiple deposit methods

 

 

Minimum Deposit Comparison - [LiteForex VS Others]

After completing the introduction procedures, now let's compare the minimum deposit of LiteForex with other reputed brokers -

 

Brokers

Minimum Deposit

Minimum position Size

Max Leverage

LiteForex

$50

0.01

1:1000

Exness

$1

0.01

1:2000

IQ Option

$1

0.01

1:300

InstaForex

$1

0.0001

1:1000

Tickmill

$100

0.01

1:500

OANDA

$1

0.00001

1:50

FXCM

$1

0.01

1:400

CMC Markets

$1

0.0002

1:500

XTB

$1

0.01

1:50

ForexMart

$1

0.01

1:500

 

LiteForex Minimum Deposit Methods and Fees

LiteForex has 4 different types of deposit methods. Here are the deets...

  1. Debit/Credit Cards
  2. Wire Transfers
  3. Electronic Transfers
  4. Cryptocurrencies

Now, we will explain the whole deposit methods procedures one by one -

1. Debit or Credit Card Methods

  • Commission: 0%
  • Min Deposit: $10

You need a VISA/MasterCard to complete this procedure. In LiteForex instructions, you have to deposit through the CardPay processing system. You do not need to create an account, just put down your card information and select the amount.

2. Bank Transfer Methods

  • Min Deposit: $100
  • Commission: 0%

The Bank Wire transaction method is an effective way to transfer a lot of money from any country in the world with minimal costs. To transfer the funds, you need to fill out the deposit form. When the broker receives your fund, the broker will immediately transfer it into your account.

Local Deposit

  • Min Deposit: $10
  • Commission: 0%

A local deposit is a method where you deposit your fund through LiteForex representatives in your region. Probably it's a great advantage for those who do not have an electronic wallet or international wire transactions. In this method, you can use your country's currency while depositing and withdrawing. 

3. Electronic Transfer Methods

Deposit by Perfect Money

  • Min Deposit: $10
  • Commission: 0%

Perfect Money is the fastest deposit method among all deposit methods. You can deposit money from anywhere in the world with Perfect Money. In your Perfect Money account, you can use a wire transfer, e-money system, or exchange partner.

Deposit by Boleto Bancario

  • Min Deposit: $10
  • Commission: 0%

This is a unique payment method available in Brazil. This payment system works in a different approach. The whole process is the client will be given a barcode document that can be used as a bill for services. The barcode document can be exchanged via ATMs or the Internet Banking system or in bank branches. Whenever you deposit through Boleto Bancario, the funds will be delivered into your account within 24 hours.

M-Pesa Kenya

  • Min Deposit: $1
  • Commission: 0% + 100 KES

M-Pesa is an excellent choice for Kenya's traders while transferring funds. They can easily deposit or withdraw money in a minute using a phone. To be said, it's an easy-to-use deposit method for LiteForex traders from Kenya.

M-Pesa Tanzania

  • Min Deposit: $1
  • Commission: 0% + 2000 TZS

M-Pesa is an excellent choice for Tanzania's traders while transferring funds. They can easily deposit or withdraw money in a minute using a phone. To be said, it's an easy-to-use deposit method for LiteForex traders from Tanzania.

Africa Mobile Money

  • Min Deposit: $1
  • Commission: GHS: 4.5%

This method is a mobile payment system based on mobile operators. In this method, people from Ghana can easily deposit money in LiteForex using mobile phones' SMS service.

WebMoney

  • Min Deposit: $10
  • Commission: 0%

WebMoney is an easy and smart idea to deposit your funds. You can convert your cash, transfer funds, and purchase goods from the Internet. It is an instant transaction process for deposits and withdrawals. 

AdvCash

  • Min Deposit: $10
  • Commission: 0%

It is an electronic payment system. The wallet owner can easily make a deposit into his LiteForex trading account. Also, you can deposit funds from your Advance Cash account in various methods including cryptocurrencies, SEPA transfer, YooMoney, QIWI, and Visa/MasterCard.

AliPay

  • Min Deposit: $10
  • Commission: 0%

In this electronic transfer system, the most junior and trustable payment system is AliPay. It is a product of the Alibaba group of companies and has gained over 200 million trusts in the world. We deeply researched and found that it established its place in the top 10 list of payment systems in the world. Already, AliPay has been successful working with 65 financial industries and its payment system is similar to WebMoney. Also, AliPay's users can enjoy large transaction facilities.

4. Cryptocurrency Methods

Bitcoin

  • Min Deposit: $10
  • Commission: 0%

While depositing through cryptocurrencies, Bitcoin is a must. Side by side, it is the most expensive and popular cryptocurrency in the world right now and then. LiteForex users can easily deposit via Bitcoin. In this process, your deposit will be sent to your account according to blockchain transaction priority. But note that sometimes the transaction may be longer instead of an instant transaction.

Ethereum

  • Min Deposit: $10
  • Commission: 0%

One of the popular cryptocurrencies is Ethereum(ETH). You can transfer funds to your LiteForex trading account via ETH. It is smart technology for transferring money in various financial spheres.

Bitcoin Cash (BCH)

  • Min Deposit: $10
  • Commission: 0%

Another method for depositing your account is Bitcoin Cash. It is almost identical to Bitcoin. 

Litecoin

  • Min Deposit: $10
  • Commission: 0%

Litecoin is a digital currency with smart security and a faster transaction facility. LiteForex's traders can instantly withdraw and deposit money through Litecoin anywhere in the world.

Monero (XMR)

  • Min Deposit: $10
  • Commission: 0%

Monero (XMR) is a CryptoNote protocol-based cryptocurrency. You can transfer funds to your LiteForex account through it. It allows you to make anonymous transactions. 

In addition, LiteForex does charge the deposit fees as a commission. But recently they have committed that whenever someone has deposited money into their account, they will return the deposit fees including the deposit money.

LiteForex Account Types

LiteForex has mainly 2 types of trading accounts.

  • Classic Account
  • ECN Account



Account Types

Classic Account

ECN Account

Leverage

1:500

1:500

Min. Deposit

$50

$50

Min. Lot Size

0.01

0.01

Platform

MT4, MT5

MT4/MT5

Spread

floating, from 1.8 points

floating, from 0.0 points

Commission

None

From 0.5$ per lot

 

LiteForex Cent Account

As for beginners, LiteForex has an advantage called a cent account. Novice traders are especially recommended to trade in this account. Here are some specifications about the account -

  • Spread - floating, from 3 points
  • Commission - None3
  • Execution type - MARKET EXECUTION
  • Platform - MT4/MT5
  • Leverage - 1:1 - 1:500
  • Account base currency - USD cents, EUR cents
  • Minimum deposit - $10

LiteForex Islamic Account

Forex is a profit-making platform. In this platform, people come with hope and joy and earn cash with their skills. But there are some differences between earning money from forex. Islamic traders who believe in Sharia's Law are completely restricted from interest.

That's why most of the brokers are providing Islamic accounts for those who do not want to take an interest in his trade. Seeking that thought, LiteForex organizes an Islamic account. Islamic account is completely interest-free and does not cost any money due to its overnight position.

How to Make Your First Deposit in LiteForex?

Making a deposit requires some procedures. Here are the deets...

  • Step 1: Open An Account

Creating an account is the first procedure of making a deposit. Just go to the LiteForex account creating section and click on SIGN UP. After providing all the information, you are done.

  • Step 2: Select a Deposit Method

Select from the following deposit method to complete the procedure to the next step.

Bank/Wire transfer: Select your deposit method from the deposit interface and write down your bank account information. After that select how much you want to deposit. Now you are done!

Credit/Debit Card method: This is the fastest procedure among all. Select the card method in the deposit interface and select the amount you want to deposit. Sometimes you need to verify your card for security circumstances. The deposit will proceed instant or sometimes within 2-3 hours.

Electronic Transfer: Electronic transfer is the modern procedure to make a deposit. Most brokers offer this facility to make deposits. This process is also quite instant. Just put down your eWallet information in the required section and select the amount. That's all.

  • Step 3: Review your Deposit

After completing all these procedures, the broker will send you a mail that shows they received your deposit.

Finale

15 years of market experience make LiteForex one of the best brokers in the world. With low spreads, lots of trading facilities, great platforms, various deposit and withdrawal methods make the trading journey more comfortable and profitable.

Overall, it's a good choice for making profits. 

Let's Open Your Account