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LiteFinance

Cyprus
2008-05-28
1
5.5
Rating Index
Software
9.16
Licensed
4.39
Risk Control
2.99
Experience
9.4
Institution
5.02
Industry Classification
D
Unqualified
Trading Platforms
MT4, MT5

Basic Information

  • Registered Region
    Cyprus
  • Operation Status
    Normal
  • Operating Period
    2008-05-28
  • Deposit Methods
    Credit/Debit cards, Bank wire, Skrill, Neteller, Perfect Money, WebMoney, Bitcoin
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
  • Main Business
    FX, commodities, stocks, indices
  • Business Type
    FX broker / Multi-asset
  • Social Media
  • Contact Details
  • Type of Accounts
    Standard, ECN; demo validity 30 days
  • Trading Platforms
    MT4, MT5
  • Withdraw Methods
    Not disclosed
  • Auto Trading
    EA / CopyTrade supported

Pros and Cons

Pros: Regulated by CySEC, low minimum deposit, various account types, no deposit/withdrawal fees, offers both MT4 and MT5 platforms. Cons: Limited leverage options compared to other brokers, and some customers report slippage issues.

Company Background

LiteForex is a Cyprus-registered online brokerage firm operating since 2008. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 093/08, ensuring compliance with European regulations. The company focuses on foreign exchange and other trading instruments, providing diverse trading options for retail investors and institutions alike.

Fund Security

Client funds are protected under the Investor Compensation Fund in Cyprus, which provides compensation up to €20,000 in case of insolvency. The firm adopts strict policies for fund segregation to enhance security in accordance with CySEC regulations.

Account Opening

LiteForex offers two account types—Classic and ECN—both with a minimum deposit requirement of $50. The account opening process is straightforward, primarily completed online with identity verification as per regulatory stipulations. A demo account is also available for practice purposes.

Trading Fees

The Classic account has a minimum spread starting from 2.2 pips, while the ECN account offers spreads starting from 0.1 pips with a commission of $5 per lot. Pricing varies across asset classes, providing competitive rates for traders.

Trading Instruments

LiteForex provides access to a wide range of trading instruments, including currency pairs, commodities like gold and oil, stock indices, and CFDs. This diversity allows traders to build varied portfolios based on their strategies.

Trading Technology

The broker supports popular trading platforms—MT4 and MT5—allowing robust trading tools, advanced charting capabilities, and algorithmic trading features. Users can access these platforms on various devices, including Windows, Mac, iOS, and Android.

Research and Education

LiteForex offers educational materials and resources for traders, including market analysis, webinars, and trading guides. These resources aim to enhance traders’ knowledge and skills, particularly beneficial for beginners.

Customer Support

Customer support is available through various channels, including live chat and email, with response times deemed satisfactory by users. The support team operates during business hours and assists in multiple languages.
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Rating Instructions
Rating Index
LiteFinance
LiteFinance
Regulated
Legal Environment
9.16
License Value
4.39
Risk Management
2.99
Investor Protection
9.4
Regulatory Policy
5.02
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

    Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.

  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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