| Forex broker | |
|---|---|
| Official website | |
| Social network | |
| Date of foundation | 1970 |
| Head Office | First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines |
| Company owner | LiteFinance Global LLC |
| Types of support | |
| Phone Support | +447520644437British toll-free line |
| Languages | English, French, Spanish, Portuguese, Turkish, Vietnamese, Thai, Arabic, Etc. |
| Terminals | MetaTrader 4, MetaTrader 5 |
| Min. first deposit | From 50 USD |
| Brokerage commission | From 5$ per lot on ECN account |
| Lot size | From 0.01 |
| Bonuses | Until 100 % Refunds of commission for depositing trading accounts Until 10000 USD Forex Demo Account Contest: BEST OF THE BEST (prize fund $10000) |
| Leverage | Until 1:500 |
| Spreads | From 0 points |
| Free demo account | |
| Adjustable | Yes |
| Regulators | Marshall Islands Business Corporations Act. № 63888 CySEC |
| Licenses | Licensed CySEC № 093/08 (Active) |
| Types of accounts | Demo, ECN, Classic |
| Margin call / Stop out | 100%/20% |
| Transaction volume | 0.01 lot |
| Order execution | Market Execution (at market price) |
| Methods of replenishment | Neteller, Perfect Money, Skrill, Wire transfer, Cryptocurrencies, Bank card (Visa/MC), Webmoney, Advcash |
| Withdrawal methods | Neteller, Perfect Money, Skrill, Wire transfer, Cryptocurrencies, Bank card (Visa/MC), Advcash |
| Number of assets | 140+ |
| Types of assets | Currency pairs7 currency pairs + major cross rates Precious metalsGold, silver OilBrent and Crude Oil IndexesLeading American, European, Australian, Asian stock indices CryptocurrencyCryptocurrency pairs with Bitcoin, Bitcoin Cash, Dashcoin, Ethereum, Ethereum Classic, LiteCoin, Monero, Ripple and ZCash CFDCFD on shares of the world's largest corporations |
| Account Currencies | RUB, EUR, USD, GBP, CHF, PLN |
| Liquidity providers | MICEX |
| Mobile apps | |
| Weekend trading | Yes |
| Tournaments/competitions | Forex contests on demo accounts, contests for LiteForex partners with a prize fund up to $4900 per month, contests for traders |
| Trader training | Textbook, webinars, glossary, etc. |
| Contract Difference Commission | Yes |
| Swaps | Yes |
| PAMM trading | Yes |
| Analytics | News, economic calendar, calculator, forecasts, etc. |
| Margin trading | Yes |
| Affiliate Program | Registration3 variants of the program for partners: Revenue Share, CPS, Regional Representative |
| Advantages | Advantageous trading conditions Stable operation of the terminal Fast withdrawal of earnings Contests and bonuses Analytics and training Scalping Quality technical support |
| Disadvantages | Technical failures |
| Company requisites | Legal name: LiteFinance Global LLC Legal address: First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines |
| Hedging | There's |
| Scalping | There's |
| Date of update | May 18, 2023 |
| Overall assessment | 8.8/10 |
LiteForex is this a scam? Review and Customers Reviews
LiteForex is a large international company. It has been successfully operating on the market since 2005. The broker was one of the first who offered its users a unique service of cent trading accounts with a deposit of just $1. This step made Forex available to ordinary people with any budget. Providing an exclusive trading environment, the broker greatly influenced the history of the market. Today the broker is steadily working with traders around the world, offering favorable terms of trade.
Certainly, you’d like to know whether LiteForex is a scam or it’s worthy company you can fully trust. We’ll answer this question here below.
For 10 years of its existence, LiteForex was able to quickly gain a reputation as a reliable broker. Traders around the world choose this company as it’s not going to stand still. Despite its success, it’s constantly developing, regularly introducing new services, opening its representative offices around the world. One of the most intriguing secrets of its success is that the company’s constantly working on expanding the opportunities of its clients in the foreign exchange market.
The company’s reputation is confirmed by a huge number of clients around the world (about half a million), as well as many prestigious awards (for example, the recognition of the broker as the best in Asia, Africa and Latin America and the fastest growing Forex broker in Asia and Western Europe, the authoritative English edition of World Magazine included the company in the list «World Finance 100»). The company has offices in more than 15 countries throughout the world and the number of its partners representing the broker in up to 216 countries keeps soaring that guarantees the possibility for traders to receive a high level of service in their native language anywhere in the world.
When talking about indisputable advantages of the broker, many traders point to its user-friendliness, innovations, a variety of services, low spreads and fast execution of orders. Traders can access a large list of financial instruments: currency pairs, crypto assets, precious metals, futures, CFDs, indices, oil. The company’s clients can use a stable trading terminal MetaTrader 4 as well as its updated version MetaTrader 5. Besides this, traders can use a convenient web version this terminal – WebTerminal. Another available platform is SocialTrading. That’s a social network of traders with a possibility to use four ways to copy transactions. Being in touch with traders from various countries, you can use the valuable experience of this community to achieve your ambitious goals.
Traders can work with convenient mobile Forex trading applications of the broker’s own development. Having installed such an application, the trader can count on 24-hour free analytics and trading signals. VIP Club customers can use a profitable service Pips Back, enabling them to receive additional bonuses in the form of a refund of the spread from each trade transaction. The official site of the broker contains a huge amount of information: daily relevant analytical articles, newsletters, materials from the independent Claws & Horns portal, articles, video reviews, trade signals, expert opinions of specialists in all popular languages.
Replenishment and withdrawal of funds
LiteForex offers its user a variety of ways to deposit and withdraw funds. Thanks to the system of instant automatic internal transfers between trading accounts, cash flows are conveniently allocated. To replenish your trading account you need to go through a quick registration procedure with the broker, deposit the desired amount, choosing a convenient way of transferring funds (the minimum deposit is $10). To deposit funds you can utilize modern payment systems – from conventional bank cards to electronic payment systems:
- Credit cards,
- Bank transfers,
- Electronic payment systems: QIWI, OKPAY, Skrill, Webmoney, Neteller, CashU, EasyPay, Perfect Money, JCB cards, Payonline, EgoPay, Alfa-Click, TeleMoney, Bitcoin, CardPay, etc.
All requests for withdrawal are handled by the broker for no more than 4 working hours. If you’re going to withdraw no more than $100, your request will be processed automatically. It undoubtedly speeds up the withdrawal procedure and ensures instant receipt of funds. The broker doesn’t charge commissions for replenishment and withdrawal of funds. Moreover, the company reimburses the commission paid by the user to the payment system when replenishing the account.
Complaints about LiteForex
The Internet offers a lot of different reviews about the broker, but the positive ones definitely dominate, and in many respects it proves the correctly chosen niche of development as well as reputation of the company. Most traders recommend trading with LiteForex, noting such advantages as the stable operation of the terminal (without freezes), favorable trading conditions, fast withdrawal of funds, low spreads, the availability of contests and bonuses, excellent market forecasts, high quality webinars, serious analytical materials on the site, professional assistance of competent experts of the technical support, convenience of work for scalpers and beginners.
Negative moments are very few. Sometimes traders mention rudeness of consultants, rare problems with the auto-withdrawal of funds and failures of the trading terminal. In general, LiteForex is quite successful in the foreign exchange market, so we can suggest it has the most serious intentions. Innovative services, a high quality terminal, a lot of competitions, professional analysts – all of this makes trading on the platform stable and efficient.
Is LiteForex a scam?
Today LiteForex is one of the most successful and dynamically developing companies. The broker has been working all over the world for over 10 years, providing qualitative services and profitable trading conditions. In many respects, the company’s success is confirmed by a large number of positive responses (many traders really recommend LiteForex). Certainly, it helps to increase the overall level of confidence in the company.
Another positive factor is the provision of cutting-edge trading terminals Metatrader 4 and Metatrader 5, a mobile application of its own design as well as unique functions and capabilities, which make trading on the platform much more productive. The very willingness to invest money and time in the further development of services and solutions clearly indicates that the company has serious plans to grasp leadership positions.
Besides this, traders appreciate the broker’s highly informative website. It contains materials about the company, trading options, terminals, bonuses, analytics as well as training information. In many respects it demonstrates a thoughtful policy of working with the users, which is not typical to scams. LiteForex turns out to be a licensed broker and it has a positive effect on the attitude towards it from traders. Verification is required to trade on the platform, and it also shows the whole seriousness of the company’s intentions.
Should we label this company as a scam? We would answer unequivocally – no! More than 10 years of successful work with traders around the world, favorable terms of trade, recommendations from grateful users prove our point of view. If you don’t want to have any problems with the broker, work with your personal manager in the proper way. You need to specify all the necessary information about the rules for using bonuses and the procedure for withdrawing funds.
Regulation of the broker
LiteForex is registered in the Marshall Islands, so it’s subject the legislation of this country (Marshall Islands Business Corporation Act, license number 63888). Additionally, the company has a license CySEC (093/08), MiFID, which guarantees the reliability and security of trading. All the clients’ funds are insured in the Compensation Fund of Investors.
Bonuses from LiteForex
Each trader of the company can receive 2 types of bonuses:
1) The welcome 30% bonus
Traders can count on the welcome bonus for deposit replenishment over $100 within 24 hours after account opening. In order to activate the bonus, you should enter the promotional code in the special field when you replenish your trading account. We recommend you to specify the terms and conditions of the bonus with the personal manager.
2) The 200% go bonus
For every deposit over $100 a trader can obtain a bonus of 200%. You can have this bonus withdrawn as soon as the conditions of the bonus promotion are fulfilled. We recommend you to specify the terms and conditions of the bonus with the personal manager.
Conclusion
The Forex-broker LiteForex has been successfully providing its services to traders around the world for more than 10 years. Offering high quality services and innovative capabilities, the company is gaining trust from its users. It doesn’t stand still, it’s constantly developing. The company receives prestigious awards, extends the number of reviews and increases the number of financial tools. It’s one of the most dynamic Forex brokers on the market. The presence of regulation, a highly informative official website, a large number of positive reviews about it – all of this gives a solid reason to trust this broker.
It’s worth noting that LiteForex has been ensuring stability and reliability of Forex trading (truth about Forex) for many years. That’s why today we aren’t going to label it as a scam. The traders’ responses we are waiting for this article will change the rating of the broker and also warn market players against possible problems.
Reviews
- In ascending order of rating
- In descending order of rating
- New ones first
- First the old ones
- Popular ones first
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Feedback approved for publication Rate your review 000Good
I have not found any problems in the work of this broker since registration, which is more than half a year ago, in trading and when working with the deposit everything is smooth, social trading is coolest and one of not many brokers. I advise this company, they work flawlessly. The company is very good… Read more
Positive- Without any deviations
Minuses- didn't notice
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Feedback approved for publication Rate your review 000Excellent service from the broker
Great service at the broker, support is always in touch, user-friendly interface and cool functionality, a lot of trading tools, analytical tools above all praise
Positive- Excellent service from the broker
Minuses- No
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Inaccurate feedback Rate your review 000No failures or delays in payments
I traded really well last year, no failures and delays in payments, the company was honest with the client, I am satisfied.
Positive- +++
Minuses- No
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Feedback approved for publication Rate your review 000has proven itself online
The broker has proved itself in the network, there are no claims to them, all services work as they should. I have no claims, all services work as they should. I do not have any complaints or problems with trading.
Positive- All OK
Minuses- No
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Feedback approved for publication Rate your review 000Everything is really cool
I decided to leave a review because the broker is very good for all its services and trading quality, I recommend the company and the finances by the way there is complete order.
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Rate your review 000Everything is very ok)
I have been trading for three months, the flight is normal, the broker does not drizzle and does not worsen the conditions, the servers are stable. There are no questions about finances, transfers are fast, commissions are acceptable.
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Rate your review 000About company
In my opinion, the company is very up-to-date and has all the services that traders need. In my opinion, the company is very modern and has all the services a trader may need. There is also a copy service for those who want to get passive income.
Positive- Stable
Minuses- No
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Rate your review 000Start
I have a very good trading platform, all the analytical and trading tools are available. I started to trade not long ago and so far everything is very interesting. I study with Alexander, the lecturer is very smart and everyone praises him.
Positive- Reliable
Minuses- Didn't find it
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Rate your review 000You can have business
I have tested the broker for a month and I am satisfied with the conditions, the trading is at a high level of execution, as well as a huge choice of trading instruments for trading. I have also paid attention to the fact that there are no problems with payment facilities, the choice is good. I don`t… Read more
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Rate your review 000scam broker
a big scam broker and need to be avoided at all costs
this broker have ecn accounts,but their ecn is not real their chart is differnet from traiding view.lots of manipulations and big slipages.on 23/06/2022 i opened a trade by this ticket #5060624970
i was short on nzd/jpy at price rate 84.725 .at… Read more -
Rate your review 000Excellent!
I came to this company by the invitation of Alexander Rodionov, who conducts individual training here, I highly recommend to learn from this trader his system of Margin Zones. In my case trade after 3 months became stably profitable, which I wish others to do as well.
Positive- Finance department
Minuses- didn't find it
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Rate your review 000Not a boring broker
The company is certainly cool, how much they do for beginners, I haven’t seen anywhere else. They have a lot of newbies and I’ve never seen them anywhere else.
Positive- Everything is
Minuses- did not notice
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Rate your review 000New items for smartphones
I’m very happy with the new mobile app, which has a full set of trading tools, so I stopped using Mt4, very cool, 190 trading assets are available, just like in the web terminal, which is in the LK, in general you can say they made a mini copy, I am very happy with this event.
Positive- Mobile app
Minuses- didn't find it
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Rate your review 000Simply and easily
I have dealt with all the services of the broker, from copy services to contests and real, everything is done in a humane way, there are no complications and in fact all the settings and conditions are simple and understandable even for a beginner.
Positive- Payment means
Minuses- didn't find it
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Rate your review 000Everything is fine
Brokers web sites now work through a proxy or VPN for those who come from the Russian Federation and do not fear this, for other countries there are no restrictions, and in general the company is very happy, I do not see them any critical problems, I trade here for a long time
Positive- Education
Minuses- No
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Rate your review 0-11The broker's website has stopped working
LiteForex, after being renamed to Litefinance, discontinued the websites and Metatrader
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Rate your review 000Successful year
Last year was successful, there were no special shocks, all trends were predictable, I earned good money on oil and crypto, Eurobucks also managed to trade successfully, in general I am satisfied with the broker
Positive- Worked well for a year
Minuses- Didn't find it
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Rate your review 000There are no problems observed
In Kazakhstan everything is really good and there are no blockages. I stuck now to copying trades, although the topic is very risky, but I get more out of it than I would trade on my own. My main thing is to choose accounts with adequate profitability. I have no problems with payments, trading is also… Read more
Positive- No blocking
Minuses- Didn't find it
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Rate your review 000Changes
As an old client I can not complain, I have nothing to complain about, but here recently began to conduct an affiliate and just recently I got the news that the broker does not accept new customers from Russia, which can not but be upset, although of course there are enough of other former Soviet countries… Read more
Positive- Everything is fine as before
Minuses- Reception of clients from the Russian Federation has been stopped
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Rate your review 000They have a great broker, everybody likes...
They have a great broker, everybody likes it, constantly updated blog where they write reviews and forecasts on all kinds of topics, both technical and analytical. I have been working in the Forex market for many years and I’m happy to offer my services as a broker, I’ve been working in the Forex market… Read more
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Rate your review 000I have been invited to this company...
I have been invited to this company by my acquaintances to earn on investments, I have opened several accounts to which I copy trades of other traders. My earnings are not so good yet, but after 3 months of work I’m not very much nervous about it. My earnings are about 5-10% a month.
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Rate your review 000Many people recommend this company for training...
Many people recommend this company for training on the forums, I decided to try my hand at forex, as long as I have the desire and ability, I think the lecturer Alexander Rodionov justifies my hopes.
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Rate your review 000I liked the chip that you can...
I liked the chip that you can deposit and withdraw in cryptocurrency from your cryptocurrency wallet, only in conversion to dollars, for me as a favorable option because there are no commissions for these actions in any direction
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Rate your review 00I traded a couple of months with...
I traded a couple of months with the broker, everything is satisfying so far, I managed to copy trades and made some money on the strengthening of the dollar, I tried to withdraw it purely as a test, the money was instantly credited to the purse.
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Rate your review 00I completely agree with everyone, this broker...
I completely agree with everyone, this broker has a lot of positive qualities, from copy service to affiliate, at the same time trading on ECN is just awesome, especially pleased with the number of cryptocurrencies offered for trading, no one else has such a large set of coins. In addition to all these… Read more
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Rate your review 00As for the study in my opinion...
As for the study in my opinion the broker is the best of those that I considered, all for free or at most a registration fee which takes a couple of minutes, and also recently appeared a textbook with tests that you can not find anywhere else so I recommend
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Rate your review 00I will tell you right away, the...
I will tell you right away, the emotions are not just negative from this broker, but it is a complete negative. Do not trade with this broker under any circumstances. This is a kitchen.
Beware of this broker and run from it!!! -
Rate your review 00The broker is really good, not the...
The broker is really good, not the first year I trade and have a clear opinion, the company is honest and unproblematic, there is a compensation for commissions for entry, on crypto as here said heaven, about 15 pairs available, while others have 4 or edge of about 6
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Rate your review 00I advise to trade cryptocurrencies at this...
I advise to trade cryptocurrencies at this broker, quotes fire, bitcoin wallet available, a lot of pairs, the conditions are not worse than at the crypto exchange, and the convenience of trade through mt4 10 times more
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Rate your review 00Last year I traded here, no technical...
Last year I traded here, no technical problems, on New Year I withdrew a small amount, within 3 hours I received the money on the card
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Rate your review 000The broker does not cheat, everything is...
The broker does not cheat, everything is honest and the output is accurate, I am satisfied with the company and recommend it to everyone.
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Rate your review 000The broker is quite interesting as for...
The broker is quite interesting as for trading and investing, or rather copying, but I want to warn you right away in the settings to put 1:1 but not proportional, and then you with the growth of the deposit will add a lot and eventually at a drawdown and no return if the manager trades without stops… Read more
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Rate your review 000The company has recently improved trading conditions...
The company has recently improved trading conditions for gold by making the spread 20 pips lower, let me tell you a very significant improvement, the minimum spread on the quiet market is now from 5 to 10 pips, on the volatile market 15-25 pips
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Rate your review 000It's good for me and I know...
It’s good for me and I know traders who also have accounts here, no one is complaining.
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Rate your review 000Lite broker not bad, I especially liked...
Lite broker not bad, I especially liked it when they had webmoney, and now this EPS have been removed from many brokers, but in spite of this with a bank card input fee they now compensate
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Rate your review 000I haven't seen technical failures here for...
I haven’t seen technical failures here for 3 years, I don’t know why this is a disadvantage in the description here, probably some outdated data, I haven’t seen offquotes on strong volatility for years, although at another broker where I still trade this phenomenon is constant.
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Rate your review 000I do not know about contests, I...
I do not know about contests, I do not participate, but you can trade, no problems or noticed, and the money is paid on the day of application
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Rate your review 000And did you hear that this broker...
And did you hear that this broker in honor of the 15th anniversary of the prize fund in the action rolled out 350 thousand bucks, I personally am a little bit shocked by such an amount, true duration of the event is for a year, but nevertheless it is very cool. The prizes will be given at the celebration… Read more
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Rate your review 000I have been trading here for a...
I have been trading here for a long time too, it is a trouble-free company and the withdrawal order, there is something to trade, the list of assets is more than 200, but now the oil industry needs to be monitored
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Rate your review 000I have not had any complaints about...
I have not had any complaints about the broker in 3 years, it is a worthy company to do business with.
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Rate your review 0+10I have always traded well here, and...
I have always traded well here, and I have never had any problems with finances. The company is a good company, I have always traded well here, and I have never had any problems financially.
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Rate your review 000The last year was great, I earned...
The last year was great, I earned good money and there were no problems, which is very rare for a veteran company, before that I traded with another company, so there were failures once a quarter.
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Rate your review 000And I gradually almost all have tried
And I gradually almost all have tried, stopped now on Lite, it has everything you need, it would certainly be more interesting if there were contests, as before at peeple arranged, but alas, now only one, though the demo.
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Rate your review 000I chose the company, I looked at...
I chose the company, I looked at the site from the outside, and when I got acquainted with it I evaluated the possibilities of the Private Area and the service of copying trades and I want to say that the conditions have been compared with several companies and this broker in some respects, even wins… Read more
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Rate your review 000I work with the company as a...
I work with the company as a contest participant, I did not pay attention to them before, but now I see that the company has great service, they attached a personal manager who helped me to speed up the verification procedure and also helped me to register in the contest. I don’t have any remarks about… Read more
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Rate your review 000I have a positive feedback about the...
I have a positive feedback about the broker, I do not see any problems in a year of trading, the payment is normal, during the working day the money is already in the wallet, it is nice to trade, the conditions are favorable and the spreads are not biting, the news do not expand to obscene, the analytics… Read more
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Rate your review 000Here, too, lead their trade, while no...
Here, too, lead their trade, while no trabble, withdraw the money, support is responsible, but with web.mane some problems were, the other payments norm all.
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Rate your review 000All the comments are only good. Will...
All the comments are only good. Will someone write the truth? I’m tired of this veiled PR for LiteForex.
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Rate your review 000I play in a demo contest, no...
I play in a demo contest, no prize yet, when I win, I will open a deposit)
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Rate your review 000Investors have a lot to do here
Investors have a lot to do here, the most powerful service for copying trades which the company upgrades more than one year, there are all the options that other companies will never find, tested on personal experience for several years
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Rate your review 000I have recently started to trade with...
I have recently started to trade with this company again, everything is on a decent level as always. I advise this company for professionals, unfortunately for beginners it does not work.
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Rate your review 000The broker is reliable, you can send...
The broker is reliable, you can send 1000$ here, there is a representative at all popular forums and they stick to the interests of their clients everywhere.
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Rate your review 000I make most trades in the first...
I make most trades in the first two, the last ones are not so good, although there is more information about them on the Internet. I do not know how to use them, I just do not know how to make profit. I have a good idea to make a deposit in several companies at once, to avoid risks and force majeure… Read more
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Rate your review 000Do not listen to those who do...
Do not listen to those who do not believe. and doubts. If you want to make money, you have to start. The platform is excellent, understandable and you can quickly learn, the main thing is to start. Read, ask, look, and start working. The interface of the platform is simple and clear, no difficulties… Read more
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Rate your review 000Who does not know the company now...
Who does not know the company now video bloggers contest, the theme is basically simple and if you win then get a contract with the company for 3 years and $ 100 and vanity roller, in general, the partners can get a hold of this topic, I think the option is interesting.
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Rate your review 000The company works properly, I do not...
The company works properly, I do not see any problems here, the broker for trading is quite decent.
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Rate your review 000Flat office lets you earn, a lot...
Flat office lets you earn, a lot of tools for trade, CFD contracts a lot, auto-exit works up to $ 100, and more also quickly withdraw within an hour
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Rate your review 000Last year was trouble-free, I think the...
Last year was trouble-free, I think the company will remain as honest with traders and will not spoil relations with partners.
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Rate your review 000This is a great company, which is...
This is a great company, which is not one year on the market. I have always withdrawn my profits, yes, there have been delays, but by contacting support they explain everything competently and always withdraw profits. I have never had any problem with withdrawal. I am not afraid to take my money from… Read more
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Rate your review 000A normal company like any other, it...
A normal company like any other, it is possible to trade.
LiteForex reviews
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