History and Founding
LiteFinance was founded in 2005 with a goal to provide accessible online trading services to global clients. Over the years, LiteFinance has built a strong reputation for offering low-cost, efficient, and innovative trading solutions. With a focus on forex, stocks, and other tradable instruments, the company has gained recognition among traders worldwide.
Mission and Vision
LiteFinance’s mission is to deliver reliable and transparent financial services while maintaining competitive pricing, top-tier customer support, and cutting-edge technology. The company’s vision is to become one of the top brokers globally by offering versatile trading solutions and enhancing its customers' trading experiences.
Global Presence
LiteFinance operates in various regions across the globe, providing services in multiple languages. The broker serves clients in Europe, Asia, the Middle East, and other international markets, ensuring tailored solutions that meet the needs of traders from diverse backgrounds.
Advantages and Disadvantages
Key Strengths
- Regulated by CySEC
- Extensive platform options (MT4, MT5, cTrader)
- Competitive spreads and fast execution
- Wide range of trading instruments
Areas for Improvement
- Low leverage options compared to other competitors
- Lack of 24/7 support
- Limited account types
Security and Regulations
Licenses Held
LiteFinance is licensed by multiple financial authorities, including the International Financial Services Commission (IFSC). This ensures compliance with global regulatory standards and assures clients that the broker operates with integrity.
Fund Segregation and Insurance
Client funds are kept in segregated accounts, ensuring that traders' money is protected from any operational risk. LiteFinance also offers insurance policies on deposits, providing an added layer of security for traders.
Tradable Instruments
Forex Pairs
LiteFinance offers a broad selection of currency pairs, including major, minor, and exotic pairs. This allows traders to capitalize on global currency fluctuations and diversify their portfolios.
Commodities
Commodities such as gold, silver, oil, and natural gas are available for trading. LiteFinance provides traders with the opportunity to speculate on price movements in these high-demand markets.
Indices
Traders can access global indices like the Dow Jones, NASDAQ, and DAX. These instruments allow traders to profit from the overall performance of stock markets around the world.
Cryptocurrencies
LiteFinance offers a limited range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. These digital assets are available for trading with competitive spreads.
Account Types
ECN
| Minimum deposit | 0 |
|---|---|
| Commission | 0.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:1000 |
| Margin call level | 0 |
| Stop-out level | 0 |
Classic
| Minimum deposit | 0 |
|---|---|
| Commission | 1.8 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:1000 |
| Margin call level | 0 |
| Stop-out level | 0 |
Fees and Charges
Spreads and Commissions
LiteFinance offers competitive spreads starting at 0.1 pips for its ECN accounts. Standard account holders experience wider spreads, but without commission fees, making it more suitable for traders who don't trade frequently.
Swap Rates
Swap rates are charged or credited based on the difference in interest rates between two currencies. These rates vary depending on the instrument being traded and market conditions.
Inactivity Fees
LiteFinance charges inactivity fees on accounts that remain dormant for an extended period. Traders should ensure regular activity to avoid any additional charges.
Trading Platforms
| Available tools | Forex, Commodities, Stocks, Indices, Metals, Energy, CFDs |
|---|---|
| CFD | Forex: 45 Commodities: 5 Stocks: 100 Indices: 15 Metals: 4 Energy: 3 |
MetaTrader 4 and 5
LiteFinance offers the popular MetaTrader 4 and MetaTrader 5 platforms, known for their robust features, ease of use, and advanced charting tools. These platforms are widely used by traders across the globe for executing trades and analyzing markets.
cTrader
The broker also offers cTrader for those who prefer a more customizable and modern trading interface. cTrader is known for its fast execution speeds and advanced technical analysis tools.
Mobile Trading Apps
LiteFinance offers mobile apps for both Android and iOS, allowing traders to monitor markets and manage positions on the go. The mobile apps are fully optimized and provide the same features as the desktop platform.
Customer Support
Steps to Register
- Complete the online registration form.
- Submit identification and address verification documents.
- Fund your account to begin trading.
Verification Requirements
To comply with international regulations, LiteFinance requires traders to submit proof of identity and address before they can begin trading. The verification process is simple and quick, typically taking a few days.
Deposits and Withdrawals
Payment Methods
LiteFinance accepts a variety of payment methods for deposits and withdrawals, including bank transfers, credit/debit cards, and popular e-wallets like Skrill and Neteller. This ensures clients have easy access to their funds.
Processing Times
Deposits are typically processed instantly for e-wallets and within 1-3 business days for bank transfers and card payments. Withdrawals may take up to 3-5 business days, depending on the method used.
Associated Fees
LiteFinance charges no fees for deposits. However, withdrawal fees may apply depending on the payment method and the country of residence.
FAQ
Is the broker regulated?
Yes, LiteFinance is regulated by the International Financial Services Commission (IFSC) and complies with industry standards for transparency and security.
What trading platforms are available?
LiteFinance offers MetaTrader 4, MetaTrader 5, and cTrader, all of which provide advanced trading tools and customizable interfaces.
What is the minimum deposit required to open an account?
The minimum deposit for a standard account with LiteFinance is $100. The amount may vary depending on the type of account chosen.
What types of accounts does the broker offer?
LiteFinance offers several account types including Standard, ECN, and Islamic accounts, catering to different trader needs and preferences.
What fees and commissions are charged?
LiteFinance charges competitive spreads starting at 0.1 pips. Commission fees apply on ECN accounts, while standard accounts do not incur commission fees.
What is the maximum leverage available?
The maximum leverage offered by LiteFinance is 1:500, allowing traders to amplify their market positions.
Are demo accounts available?
Yes, LiteFinance offers demo accounts for new traders to practice without risking real money.
How can I contact customer support?
LiteFinance provides customer support through live chat, email, and phone. Support is available 24/5 in multiple languages.