LiteForex (LiteFinance) Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $50
- MetaTrader4
- MetaTrader5
- Own platform
- CySEC
- 2005
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $50
- MetaTrader4
- MetaTrader5
- Own platform
- CySEC
- 2005
Our Evaluation of LiteForex
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
LiteForex is a moderate-risk broker with the TU Overall Score of 6.38 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by LiteForex clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
LiteForex (LiteFinance) is more in demand by traders who already have basic trading skills like professional traders and those who are interested in passive investing.
Brief Look at LiteForex
The LiteForex (LiteFinance) broker is a high-tech company that constantly offers innovative solutions for active and passive trading. The LiteForex group of companies was incorporated in 2005, and it has risen through the ranks to become a market leader. Today, LiteForex (LiteFinance) is an online ECN broker with unique technical solutions for transferring transactions to the interbank and directly to liquidity providers. Social Trading is a mechanism for automatic copying of other traders’ transactions (see, SocialTrading platform) and other advantages for comfortable and efficient trading. LiteForex Broker is one of the largest and leading brokers in Malaysia.
- Correspondence to the A-Book model, STP (straight-through processing) and ECN technologies for processing client orders and pin spreads with instant market execution with minimal slippage in both directions;
- Own trading platform for personal accounts that was designed for novice traders with the ability to copy transactions, analyze market sentiment, etc.;
- Several types of affiliate programs with a multi-level system and cashback;
- Automatic reimbursement of commissions paid when replenishing and withdrawing money.
- No cent accounts, which are often of interest to novice traders;
- Supplement of additional indicators is not provided in the trading platform of your personal account; algorithmic trading and testing are not provided;
- There is no information on how the risk level is assigned to traders from the social trading rating;
- Complex verification procedure.
TU Expert Advice
Financial expert and analyst at Traders Union
The LiteForex (LiteFinance) broker has been operating for over 14 years and that characterizes the company as a reliable and responsible partner. The broker is focused mostly on professional traders, as evidenced by a relatively high initial deposit and the absence of cent accounts. I would like to point out the transparency of the broker's trading conditions as there are no pitfalls or hidden commissions. There are no restrictions on scalping, hedging, or the use of trading advisors.
Recently, the company updated its personal account from a classic account into a full-fledged trading tool. And now you can start profit directly from your account in one click. Analytics have been added to the cabinet platform for novice traders: fundamental and technical forecasts for each pair, market sentiment, etc. You can also manage the affiliate program from the cabinet and create an investment portfolio using the SocialTrading service.
LiteFinance is a professional trading company. The broker fully fulfills its obligations; therefore, it is one of the regular partners of the Traders Union.
We checked the office of the LiteForex brokerage company in Cyprus, which is located at the following address according to the information on the company’s website:
124 Gladstonos Street, The Hawk Building, 4th Floor, 3032, Limassol, Cyprus
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The company is located at the stated address
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We were able to speak to a company representative
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We were able to visit the office as clients
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Video of the company’s office
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LiteForex Summary
Your capital is at risk. Trading on financial markets carries risks. Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and take into account your investment objectives and level of experience.
| 💻 Trading platform: | МТ4, МТ5, own platform integrated in the personal account. |
|---|---|
| 📊 Accounts: | Demo, Classic, ECN |
| 💰 Account currency: | USD, EUR, CHF, MBT |
| 💵 Replenishment / Withdrawal: | WebMoney, Perfect Money, Neteller, Skrill, Visa, MasterCard, bank transfers (SWIFT), 6 types of cryptocurrency |
| 🚀 Minimum deposit: | $50 USA |
| ⚖️ Leverage: | Up to 1:500 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01-100 |
| 💱 Spread: | Classic — from 1.8 pips, ECN — from 0 pips |
| 🔧 Instruments: | Currencies, assets of stock and commodity markets, cryptocurrencies |
| 💹 Margin Call / Stop Out: | 100% / 20% |
| 🏛 Liquidity provider: | n/a |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market Execution |
| ⭐ Trading features: | Cryptocurrency trade; Compensation fund; A blog is written by leading traders. |
| 🎁 Contests and bonuses: | Yes |
Trading conditions are extremely transparent and easily understandable. There are only two types of accounts: classic and professional. The minimum deposit is $50 for either account, order execution, market, and leverage is up to 1:500.
LiteForex Key Parameters Evaluation
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Trading Account Opening
How to make money with LiteForex (LiteFinance)? Register an account and create a personal account. The registration procedure is standard:
Register on the Traders Union site and follow the affiliate link to the LiteFinance broker's website. Click the “Registration” button in the right upper corner. If you need to open a demo account, do it in the "For novice traders" menu.
Go through authorization, following the prompts: enter the initial data (login, password, email). Then confirm the registration by the link that has been sent via email, and enter your personal account. This is enough to start. To conduct real trading and before making a deposit, you need to go through verification by providing personal data and screenshots of documents. If you are planning to become a partner you need to go through a specific verification.
The following is available in the LiteForex (LiteFinance) personal account:
Other useful functionality and features:
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access to analytics: economic calendar, news feed, signals, information on interest rates;
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managing trade and trade statistics overview by profile: data on copying transactions (who copied/who was copied — statistics on transactions), data on the portfolio, trade statistics, profitability;
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statistics of deposits and withdrawals;
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management of affiliate programs, statistics of profitability in the context of each campaign and partner groups;
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trading through MetaTrader.
Regulation and safety
LiteFinance guarantees the confidentiality of personal data and security during transactions. Data encryption protocol (HTTPS — hypertext transfer protocol) is used when transferring data between the client’s computer and the broker's server, thereby preventing the interception of the client's personal data.
Advantages
- Segregated accounts
- Reliable data transmission security system
- Working in the European legal field
Disadvantages
- Difficulties for private traders to communicate with the regulator
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Classic | From $18 | No |
| ECN | From $0 | No |
There is a swap (commission for shifting transactions to the next day). The Traders Union analysts also compared the average commissions on STP accounts of LiteForex (LiteFinance) broker and other brokers, and therefore the corresponding level was assigned.
| Broker | Average commission | Level |
|---|---|---|
|
$18 | |
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$1 | |
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$8.5 |
Account types
LiteForex (LiteFinance) offers two types of accounts. The classic account is an account for those who prefer intraday, medium and long-term strategies with small trade volumes. ECN account is a professional account with market spreads from 0 pips and instant order execution. It is perfect for high-frequency trading.
Types of accounts:
You can get acquainted with the broker's capabilities and platform functionality using a demo account.
Deposit and Withdrawal
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LiteForex (LiteFinance) broker provides instant crediting and withdrawal of funds without limits on the amount and without limits on the number of requests. The minimum withdrawal amount is from $10 or equivalent.
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There are several options for money replenishment or withdrawal: WebMoney, Perfect Money, Neteller, Skrill, Visa, MasterCard, bank transfers (SWIFT), cryptocurrencies (6 types).
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The speed of withdrawal directly to the trader's personal accounts depends on the speed of transactions within the selected payment systems.
Investment Options
In addition to active trading, LiteForex (LiteFinance) also offers you a plan to earn on investment programs such as creating your own multi-level partner network and copying transactions. The SocialTrading service is an innovative LiteFinance platform that allows you to automatically copy transactions, and also assesses and rates real traders, assigning each a risk level.
SocialTrading — passive income from copying transactions with minimal risk
SocialTrading is a transaction copying platform that allows you to create a diversified investment portfolio from different strategies with different levels of risk. It is available in the trader's personal account after registration.
Advantages of SocialTrading:
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there are 4 options for copying transactions under SocialTrading: copying in proportion to the investor's funds, copying the full volume 1:1 or a fixed volume in lots, copying the set volume of each transaction;
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there is a possibility of risk management. The prescheduled deactivation of the investor's account is provided;
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you can earn on affiliate links of those who copy transactions (passive income to a trader).
The SocialTrading model works as follows. Each trader who opens a real account is automatically rated. The trader is assigned a risk level depending on the profitability of trading, the longevity of the account, the number of transactions and other factors. In accordance with the personal risk management system, the investor assesses the advisability of transactions copying from particular trader and connects his account to the trader's account. All traders' transactions are automatically copied to the investor's account; and when there is a profit, the investor pays a commission to the trader.
If you are a large investor and plan on investments over $ 10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
LiteForex (LiteFinance) affiliate program:
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CPS. This multilevel affiliate program allows you to get remuneration up to $50 for each client (referral) + 10% of the sub-partner's profit. The tool of the program is an affiliate link by which a referral shall be registered; statistics management is available in your personal account.
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Revenue Share. This gives a partner revenue in the form of a percentage of the referral's commission. There is a cashback to the personal account and you can set the percentage of the cashback to the referral in the range from 0% to 95%.
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“Regional representative”. You can open your own representative office in partnership with LiteForex (LiteFinance). Potential earnings up to $15 from each transaction of referrals and 10% of income from sub-partners.
You can create in your personal account any number of partner programs of different types, setting different conditions in each of them and assorting referrals according to different criteria. Thus, you can assess which of the referral channels is more effective, and which cashback is optimal for you, etc.
Customer support
The broker's support service is available for each trader 24/5.
Advantages
- There is a distinction between partner support, financial department and trader support
- Multilingual support for over 15 languages
Disadvantages
- Not available on weekends
There are several ways to contact Customer Support:
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LiveChat (online chat on the broker’s website is available without registration);
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communities links to which are indicated on the site (social networks and specialized groups);
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by phone, the numbers are indicated on the site;
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via email.
Support is available on the broker's website and in a personal account.
Contacts
| Foundation date | 2005 |
|---|---|
| Registration address | First Floor, Mandar House, Johnson's Ghut, P.O. Box 3257, Road Town, Tortola, British Virgin Islands |
| Regulation |
CySEC
Licence number: 093/08 |
| Official site | litefinance.com |
| Contacts |
88007072963
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Education
There are several subsections devoted to training on the LiteForex (LiteFinance) website, focused on novice traders, on professionals, and those who are interested in analytics.
There is a demo account where you can step by step master the knowledge gained from books, webinars and training materials, work out indicators, and test strategies.
Comparison of LiteForex with other Brokers
| LiteForex | RoboForex | Pocket Option | Exness | Deriv | Tickmill | |
| Trading platform |
MT4, MT5, MultiTerminal, Sirix Webtrader | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | Deriv bot, Deriv MT5, Derivix, Deriv Trader, SmartTrader | MT4, MT5, Tickmill Mobile App |
| Min deposit | $10 | $10 | $5 | $10 | $5 | $100 |
| Leverage |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:500 |
| Trust management | Yes | No | No | No | No | Yes |
| Accrual of % on the balance | 7.00% | No | No | No | 1.00% | No |
| Spread | From 0.5 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 0 points |
| Level of margin call / stop out |
50% / 20% | 60% / 40% | 30% / 50% | No / 60% | 100% / 50% | 100% / 30% |
| Execution of orders | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | $30 |
| Cent accounts | Yes | Yes | No | No | No | No |
Detailed Review of LiteForex (LiteFinance)
The LiteFinance brokerage was founded in 2005. Thereafter, the company has become one of the largest participants in the European brokerage markets. The top goals of the broker are to improve the technology for bringing client transactions to the interbank market and to liquidity providers, as well as to provide additional services for passive investment.
LiteForex (LiteFinance) is one of the best ECN brokers on the European market
LiteForex (LiteFinance) holds itself out as an ECN broker that level out traders' deals directly in the ECN network without the participation of a middle man. LiteFinance is a high internal liquidity company, providing its clients with a transparent and large-scale market with order execution at the best price and without delay. This model avoids conflicts of interest and offers challenges for the trader to use any trading tools.
LiteForex's trading instruments include classic currencies and cross rates, metals, stocks, stock indices, and assets of commodity markets. The company was one of the first to offer cryptocurrency trading using classic BTC and ETH, and second tier cryptocurrencies like LTC, XRP, and others.
Its own trading platform, built into your personal account and being an addition to the classic MT4 and MT5 is another component of LiteForex (LiteFinance). Unlike MT overloaded with opportunities, it has a simplified functionality that allows a novice investor to quickly understand the specifics of trading. Another feature of the platform is a scalable chart and an extended set of analytical tools.
Useful analytical services and applications of LiteFinance:
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analyst from the independent company Claws&Horns. It offers technical analysis, signals, and video reviews;
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trader's calculators. Assistance in calculating the volume of a position, taking into account the leverage, trading asset and quotes. Fibonacci Calculator — a technical analysis tool for making strong levels, potential reversal points, and trend direction;
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VPS server. Trading 24 hours a day with the ability to use a trailing stop even when there is no connection between the client’s terminal and the broker's server.
Advantages:
an intuitive platform built into your personal account. Rigorous trader selection process in the form of rating the social trading service;
the optimal combination of the level of spread and the speed of execution of transactions. No requotes, almost no slippage;
compensation fund (protection of the trader's money in case of unexpected circumstances);
excellent support service. An instant answer to any question; assistance in resolving disputes, taking into account the client's opinion;
a blog is written by leading traders, investment management analysts and trading systems developers.
There are no trading restrictions. The use of trading advisors and scalping is allowed; there are no Stop&Limit levels.
User Satisfaction