LiteFinance review and ratings

Established 2005
Location Saint Vincent and the Grenadines
Regulation None
Offices Kingstown + 15 representative offices worldwide
Broker type STP | ECN
Leverage up to 1:1000
Deposit from 50 USD
Spreads mid  mid
Platforms Web MetaTrader 4 MetaTrader 5 cTrader Specific FIX API (protocol)
Instruments Currencies Crypto Indices Metals Energies Softs Stocks
Funding methods Wire Transfer Credit Cards Skrill Neteller Perfect Money AdvCash Bitcoin Bitсoin Cash Ethereum Liteсoin Ripple Tether
Type 'MT4 ECN' demo (commission: from $5 per side)
Login 1003976777
Password kP9KU3RZ9HV1
Server LiteFinanceVC-Demo (18.134.159.107:552)
Updated 18.06.2024 (Active)
Instruments Select the category  

Company information

LiteFinance is a legally registered forex broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.

Availability

LiteFinance group accepts clients from all over the world, excluding USA, European Economic Area, Israel, Russia, Japan and some other countries where restrictions apply.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

55+ Currency Pairs Based on major and minor world currencies.
60+ Crypto Pairs Based on various top-rated coins and tokens.
14 Indice CFDs Based on baskets of different blue-chip stocks, US Dollar Index and Volatility Index.
4 Metal CFDs Based on Gold, Silver, Platinum, Palladium.
2 Energy CFDs Based on Crude Oil (WTI, Brent).
5 Soft CFDs Based on Cocoa, Coffee, Corn, Soybean, Wheat.
100+ Stock CFDs Based on shares of US and EU companies.

Comprehensive review

LiteFinance is a forex broker registered offshore in Saint Vincent and the Grenadines. The broker offers a wide variety of trading instruments across many asset classes, very high leverage, and trading across numerous platforms.

In the EU, the same forex broker is known under the name LiteForex, registered and regulated in Cyprus. For the purposes of this review, however, we will only cover the international brand, LiteFinance.

As would be expected from a broker with dual on-/offshore regulation, EU-based traders cannot sign up with LiteFinance, but they are welcome at LiteForex.

As usual with forex brokers registered in Saint Vincent and the Grenadines, LiteFinance is completely unregulated. This means that there are certain risks associated with depositing money on it, including the potential loss of funds if the broker for instance goes out of business.

Traders who have done their due diligence and still want to sign up to trade with LiteFinance can choose between an ECN account with low floating spreads and commissions, or a Classic account with wider spreads but no commissions. Both accounts offer ultra high leverage of up to 1:1,000, and have a minimum deposit of just $50.

In addition to the two regular trading accounts, swap-free accounts for Muslim traders and demo accounts for practice purposes are also available.

The trading instruments that are available from LiteFinance include more than 50 forex pairs, a solid selection of more than 60 cryptocurrency pairs, over 100 single stocks listed in the US and Europe, as well as major stock indices and commodities. All of the assets are traded as contracts-for-difference (CFDs), which is a very popular and common type of derivative instrument used among retail traders.

In terms of trading platforms, LiteFinance has something to suit everyone. From MetaTrader 4 and 5 (MT4 and MT5), to the popular cTrader platform and its own mobile app, LiteFinance has really taken the extra step to make sure all its clients can use their favorite platform.

MT4 and 5 are both well-known trading platforms that most people in the forex trading community are familiar with, having been around since 2005 and 2010, respectively. Similarly, cTrader is a popular trading platform among retail traders, offered by many of the forex brokers we have reviewed here on FX-List.

Traders who wish to get in touch with LiteFinance's support team can do so by reaching out via live web chat, Skype, Telegram, and email. The broker promises on its website that the support staff is available 24 hours a day on all trading days.

Notably, LiteFinance also has a network of local representative offices around the world, including in countries like Egypt, Indonesia, Nigeria, Thailand and Vietnam. Most of these offices have also shared phone numbers and contact details for WhatsApp for anyone who wants to reach out to them directly.

All in all, our impression is that LiteFinance today is a relatively strong brand, particularly in Asia and Africa where they have a large network of local representatives. Europeans, meanwhile, can still trade with the Cyprus-based branch if they want to, while Americans and nationals of some other countries are excluded. Still, we believe the broker has a strong offering for anyone interested in trading a large range of instruments with high leverage on familiar trading platforms.

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