LiteFinance review by - TopAsiaFX
LiteFinance is an established ECN broker that has been providing trading services since 2005. With a client base of over 500,000 traders worldwide, LiteFinance aims to make forex and CFD trading accessible to a global audience through its user-friendly platforms and diverse range of tradable instruments.
The company is owned by LiteFinance Global LLC and operates under registration number 931 LLC 2021 in St. Vincent & the Grenadines. Additionally, it is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 093/08 for clients in Europe. These regulatory measures ensure that LiteFinance adheres to industry standards and provides a secure trading environment for its clients.
LiteFinance Pros & Cons
Pros
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Legally registered and regulated, ensuring a safe trading environment.
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User-friendly platform suitable for both beginners and experts.
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Offers unrestricted MT4/MT5 demo accounts for risk-free testing of strategies and EAs.
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Provides a wide range of cryptocurrency trading options.
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Transparent offers and conditions for a seamless trading experience.
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Unique copy-trading feature to follow strategies of experienced traders.
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Competitive fees and spreads tailored to various trading techniques.
Cons
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ECN account fees may deter some traders.
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Market volatility can cause slippage and spread extensions.
LiteFinance Account Types
| Accounts | Currencies | Min. Deposit | Leverage | Starting Spreads | Demo Account | Rollover Free | Commission Per Trade | Max. Lot Size Per Trade | Min. Lot Size Per Trade |
|---|---|---|---|---|---|---|---|---|---|
| ECN | USD, EUR | $$50 | 1:1000 - 1:1 | floating, from 0.0 points | Yes | Yes | From 0,25$ per lot2 | 100000 | 0.01 |
| CLASSIC | USD, EUR | $$50 | 1:1000 - 1:1 | floating, from 1.8 points | Yes | Yes | no | 100000 | 0.01 |
| CENT1 | USD cents, EUR cents | $$10 | 1:200 - 1:1 | floating, from 3 points | Yes | Yes | no | 1000 | 0.01 |
Account Options
| Broker Type | Minimum Deposit | Forex Majors Spread | Maximum Leverage | Min. Trade Size | Scalping | Hedging | Free Demo | USA Traders |
|---|---|---|---|---|---|---|---|---|
| ECN, STP | $50 | 0.4 | 1:1000 | 0.1 lot | Yes | Yes | No |
LiteFinance Trading Platforms & Fees
Regulation
- ( SVG & CySEC )
Fees
- ZERO Fees
Platforms
- MT4, MT5, MobileTrader (MobileApp)
LiteFinance offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These platforms are widely regarded as the best in the industry and offer a wide range of features and tools for traders of all levels. MT4 and MT5 are both available for desktop, mobile, and web-based trading.
LiteFinance Top Features
LiteFinance offers a wide range of tradable instruments across various asset classes. This includes major, minor, and exotic currency pairs, commodities such as gold and oil, stock indices, and cryptocurrencies. The company also offers a variety of CFDs on popular assets.
LiteFinance Regulation & Compliance
LiteFinance is a well-regulated broker that is subject to the strict oversight of CySEC. This means that the company is required to maintain high levels of financial security and operational transparency. In addition, LiteFinance is a member of the Investor Compensation Fund, which provides up to €20,000 of protection to eligible clients in the event of the broker's insolvency.
LiteFinance Service Details
| Supported Languages | English, Indonesian, Español, Português, Русский, မြန်မာ, Thai, 한국어 ,Tiếng Việt, فارس, Malay, Français, عربية, 中文 |
| Customer Service By | Live Chat, Email, Call, Social |
| Service Hours | 24/5 |
| Email Response | clients@litefinance.com |
LiteFinance Trading And Investment Tools
| One Click Trading | Yes |
| Stop Order | Yes |
| Limit Order | Yes |
| Trade off Charts | Yes |
| Market Order | Yes |
| 24hr Trading | Yes |
| Email Alerts | Yes |
| Trailing Stop Order | Yes |
| Charting Package | Yes |
| Mobile Alerts | Yes |
| OCO Orders | Yes |
| Streaming News Feed | Yes |
LiteFinance Deposit & Withdrawal
LiteFinance offers 3 main account types: the ECN account, the Classic account & the cent account. The ECN account is recommended for experienced traders who are looking for the lowest possible spreads. This account type offers direct access to liquidity providers and does not charge commissions. The Classic account is a good option for less experienced traders who are looking for a more affordable option. This account type does charge commissions, but the spreads are still competitive. And cent account is for newbies who just started live trading.
Deposit Methods
Withdrawl Methods
LiteFinance User Experience
Customer Support
LiteFinance offers excellent customer support through a variety of channels. Traders can contact the support team via live chat, email, or phone. The support team is available 24/7 and fluent in various languages.
Overall, LiteFinance is a good choice for traders who are looking for a reliable and well-regulated broker with a wide range of tradable instruments and competitive spreads. The company offers excellent customer support and a variety of deposit and withdrawal methods. However, traders should carefully consider their individual needs and trading style before making a decision.
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