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Score

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.
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0123456789
/10
The WikiFX Score of this broker is reduced because of too many complaints!

LiteForex

Cyprus|15-20 years| Benchmark C|
Straight Through Processing(STP)|MT4 Full License|Regional Brokers|High potential risk|

https://www.liteforex.eu/

Website

Rating Index

Benchmark

Benchmark

C

Average transaction speed (ms)

793.1 Poor

MT4/5

Full License

LiteFinance-ECN2.com

United Kingdom
MT4
139

Influence

A

Influence index NO.1

Cyprus 7.53
The WikiFX Score of this broker is reduced because of too many complaints!

Benchmark

Speed:C

Slippage:C

Cost:A

Disconnected:A

Rollover:D

MT4/5 Identification

MT4/5 Identification

Full License

139
Server Name
LiteFinance-ECN2.com MT4
Server Location United Kingdom

Influence

Influence

A

Influence index NO.1

Cyprus 7.53

Surpassed 49.31% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+357 25-750-555
support@liteforex.eu
https://www.liteforex.eu/
First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

More

Danger

ID BAPPEBTI
2022-02-02

Danger

MY SCM
2022-01-01

Contact number

English

+357 25-750-555

Other ways of contact

Broker Information

More

Company Name

Liteforex (Europe) Limited

Abbreviation

LiteForex

Platform registered country and region

Cyprus

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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WikiFX Risk Alerts
Previous Detection : 2024-07-18
  • The number of the complaints received by WikiFX have reached 21 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

LiteForex · WikiFX Survey
Good A Visit to LiteForex in Cyprus: Office Found at the Registered Address
Cyprus
LiteForex · Benchmark
Average transaction speed(ms)
793.1 Poor
The highest transaction speed(ms)
3 Perfect
The highest speed of opening positions(ms)
3 Perfect
The highest speed of closing position(ms)
3 Perfect
The lowest speed of opening positions(ms)
1999 Poor
The lowest speed of closing position(ms)
1984
11.2USD/Lot Great
31.23USD/Lot Good
Long: -8.4USD/Lot    Short: 1.3USD/Lot
Long: -38.37USD/Lot    Short: 10.3USD/Lot Poor
Average slippage
0.7 Poor
Maximum transaction slippage
29 Poor
Maximum positive slippage
-4 Great
Maximum negative slippage
29 Poor
Average disconnection frequency (times/day)
0.2 Perfect
Average reconnection time (millisecond/per request)
199.6
Ranking: 114 / 133
Test user 881
Orders 74,062
Ocuppied margin $5,314,627 USD
Data Source WikiFX Data provide
Updated: 2024-07-16 01:00:00

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    LiteForex · Company Summary

    Company Summary

    Company profile

    General Information & Regulation

    Liteforex is the trading name Liteforex (Europe) Limited which registered with address: 1 Vasileos Georgiou A Street, Monastiraki Center, Office 1, Potamos Germasogeias, 4040, Limassol, Cyprus, launched in 2005. Liteforex (Europe) Limited, is registered as a Cyprus Investment Firm (CIF) with the registration number HE230122 and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 093/08 in accordance with Markets in Financial Instruments Directive (MiFID).

    Market Instruments

    Investors can trade all popular currency pairs and cross rates, precious metals, crude oil, stock indices, stock CFDs, and cryptocurrencies through Liteforex broker.

    Liteforex Minimum Deposit

    There are two acocunt types are listed on Liteforex platform: the Classic Accounts and the ECN accounts. The Classic account requires a minimum deposit of $50 and a 30% tradable bonus on deposits, and the ECN account requires the same initial deposit amount but with a 2.5% annual account interest. Additionally, a demo account is alos available.

    Liteforex Leverage

    Trading leverage depends on various instruments. The maximum leverage for major currency pair is up 1:30, up to 1:20 for minor currency pairs and major indices, 1:20 for XAUUSD, 1:10 for XAGUSD, 1:10 for USCrude and UKBrent.

    Spreads & Commissions

    Liteforex calculates trading costs all into spreads. The minimum spread for the classic account is 2.2 pips for EURUSD, 2.3 pips for GBPUSD, 6.4 pips for XAUUSD, 6.2 pips for XGUUSD, 0.9 pips for USOil, 0.9 pips for UKOil, 10.6 pips for S&P500, 4.1 pips for Stocks, and 1.0 pips for Bitcoin. The minimum spread for BitUSD is 1316.0 pips. The minimum spread for ECN accounts is 0.1 pips for EURUSD, 0.3 pips for GBPUSD, 1.5 pips for XAUUSD, 1.0 pips for XGUUSD, 0.3 pips for USOil, 0.3 pips for UKOil, 0.6 pips for S&P 500, with its commission of US$5. The spread for BitUSD is 1316.0 pips, and the minimum spread for stocks is 0.1 pips.

    Trading Platform

    Liteforex offers traders the market-leading and popular MT4 and MT5 trading platforms, as well as MT4 Windows PC, MT4 Mac PC, MT4 Multi-Terminal Edition, MT4 iOS/iPad, MT4 Android, MT5 Windows PC, MT5 Mac PC, MT5 iOS/iPad/iPad, and MT5 Android, for users to make flexible choices.

    Deposit & Withdrawal

    Traders can deposit and withdraw funds via VISA & MASTERCARD credit cards, bank wire transfers, local deposits, Skrill, Neteller, Perfect Money, WebMoney, Alipay, and Bitcoin cryptocurrencies with a minimum deposit of $10. Liteforex will provide users with a certain amount of bonus, for the refund of fees incurred by the payment.

    Customer Support

    Customer service can be accessed 24/5 via live chat, and e-mail and phone support 12/5. LiteForex maintains a multi-lingual support team, while the FAQ section answers the most common questions. Traders are unlikely to require any assistance, as this broker explains most aspects well. In case of unforeseen events, it remains easy to receive help

    Note: It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

    In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

    Registered in Cyprus
    Regulated by CYSEC
    Years of Establishment 10-15 years
    Trading Instruments Currency pairs, indices, metals, energy
    Demo Account Available
    Minimum Initial Deposit $10
    Maximum Leverage 1:30
    EUR/USD Spread 0.5 pips onwards
    Trading Platforms MT4, MT5
    Deposit & Withdrawal Method Bank wire transfer, credit card, skrill, neteller, etc.
    Customer Service Email/phone number/address/live chat
    Fraud Complaints Exposure Yes

    General Information & Regulation

    LiteForex is a Cyprus-registered company that provides online trading services for forex, commodities, indices, and metals markets. It is regulated by the Cyprus Securities and Exchange Commission (CYSEC) and offers two types of live accounts: ECN and Classic. LiteForex also provides a demo account, educational resources, and customer support in multiple languages. The company allows clients to deposit and withdraw funds via electronic transfers, bank cards, and bank wire transfers with a minimum amount of 10 USD and no extra fees.

    In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.

    General information

    What Type of Broker is LiteForex?

    LiteForex is an STP (Straight Through Processing) broker that enables its clients to have direct access to interbank markets. This type of broker passes on their client's orders directly to liquidity providers, which are typically banks, without the need for a dealing desk. As a result, STP brokers are typically known for their transparency and faster order execution. LiteForex's STP model allows clients to experience pricing that reflects current market conditions, which can result in lower trading costs. However, since LiteForex does not have fixed spreads, clients may experience wider spreads during volatile markets. Additionally, requotes may occur due to the time it takes to process orders.

    Pros & Cons

    Pros:

    • Wide range of tradable markets including currency pairs, indices, metals, and energy

    • Competitive average spread for EURUSD at 0.5 pips

    • Offers demo account for risk-free trading

    • Provides various educational resources such as glossary, e-books, tutorials, and economic news

    • Multiple language support for customer service

    • Detailed deposit and withdrawal information with minimum amount of 10 USD and no extra fees

    Cons:

    • Limited information on spreads and commissions

    • Maximum leverage of 1:30, which may not be sufficient for some traders

    • Limited working hours for customer service

    Market Instruments

    LiteForex offers its clients a wide range of trading markets that includes currency pairs, indices, metals, and energy. This variety of instruments allows traders to find what they want to trade on the platform, whether they are beginners or experienced traders. However, LiteForex does not offer cryptocurrencies and stocks currently.

    market instruments

    Account Types

    LiteForex offers a demo account for beginners to practice trading without risking real money. For live accounts, the company provides two options: ECN and classic. The classic account has higher spreads but no commission, while the ECN account has lower spreads but a $3 commission per lot. This allows traders to choose the type of account that best fits their trading style and preferences.

    account types

    Leverage

    LiteForex offers a maximum leverage of 1:30, which is a commonly seen level in the forex industry. Leverage is an important aspect of forex trading as it allows traders to open positions larger than the amount of money they have deposited, which can lead to higher profits with successful trades. However, it also increases risk and potential losses, especially for inexperienced traders who may be tempted to over-leverage their positions. While higher leverage can be attractive to traders with smaller capital amounts, changes in market conditions can lead to sudden losses. It is important to note that regulators may restrict leverage levels in certain regions.

    maximum leverage

    Spreads & Commissions

    Advantages Disadvantages
    Tight and variable spreads Lack of transparency on spread and commission information
    Competitive average spread for major currency pairs No information on commission charges
    No hidden fees or charges

    LiteForex's information on spreads and commissions is quite limited, which may make it difficult for traders to accurately assess the cost of trading with the broker. However, LiteForex does declare to have tight and variable spreads, with an average spread of 0.5 pips for EURUSD, which is a competitive level compared to other brokers in the market. The broker also does not have any hidden fees or charges, which can be seen as an advantage for traders. However, the lack of transparency on commission charges may be a disadvantage for traders who want to have a clear understanding of all the costs involved in trading with the broker.

    spreads and commissions

    Trading Platform

    LiteForex offers both MT4 and MT5 trading platforms, which are widely recognized and trusted by traders in the industry. These platforms provide a user-friendly interface and a wide range of features and tools, making it easy for traders to analyze and execute trades.

    trading platform

    Deposit & Withdrawal

    Advantages Disadvantages
    Various payment methods available No mention of e-wallet options
    Minimum deposit is only $10 Limited information on withdrawal processing times
    No additional fees for deposits or withdrawals No option for local bank transfer in some countries

    LiteForex's deposit and withdrawal process offers several advantages to traders. Firstly, the broker supports multiple payment methods, including electronic transfers, bank cards, and bank wire transfers. Secondly, the minimum deposit requirement is only $10, making it easy for beginners to get started. Lastly, there are no extra fees charged for deposits or withdrawals, which is a bonus for traders on a tight budget. However, LiteForex does not offer e-wallet options, which is a popular payment method among traders, and the information on withdrawal processing times is limited. Additionally, local bank transfer is not available in some countries.

    deposit and withdrawal

    Educational Resources

    LiteForex offers a comprehensive range of educational resources for traders of all levels. With glossaries, e-books, tutorials, strategies, economic calendars, analytics, traders calculators, currency rates, economic news, and more, LiteForex provides a wide range of resources to help traders make informed decisions.

    educational resources

    Customer Service

    Advantages Disadvantages
    Multiple language support Limited working hours
    Multiple contact options (email and phone) No live chat available
    Physical address provided No 24/7 customer support
    Quick response time during working hours

    LiteForex offers a variety of customer service options to its clients, including support in multiple languages and two contact options: email and phone. However, there is no live chat available, and customer support is only available during limited working hours from 9 a.m. to 9 p.m. (GMT+2) on weekdays. Another downside is the lack of 24/7 customer support. Despite these limitations, the broker provides a physical address, which can add to clients' peace of mind. Moreover, during the working hours, the response time is quick, and clients can expect to receive a helpful response in a timely manner.

    customer support

    Conclusion

    In conclusion, LiteForex is a well-established and reputable online forex and CFD broker, offering a wide range of trading instruments, educational resources, and customer support in multiple languages. With its user-friendly trading platforms, tight spreads, and low minimum deposit, it is an attractive option for both beginner and experienced traders. While its maximum leverage is relatively low compared to some other brokers, this can be seen as a positive aspect for traders who prioritize risk management. Overall, LiteForex seems to be a reliable and trustworthy choice for anyone looking to trade the financial markets. However, it is important to always do your own research and carefully consider the risks involved before making any investment decisions.

    Frequently Asked Questions (FAQs)

    • Question: Is LiteForex a regulated forex broker?

    • Answer: Yes, LiteForex is a regulated forex broker registered with the Cyprus Securities and Exchange Commission (CYSEC).

    • Question: What trading platforms does LiteForex offer?

    • Answer: MT4 and MT5.

    • Question: What financial instruments can I trade on LiteForex?

    • Answer: LiteForex provides currency pairs, indices, metals, and energy.

    • Question: Does LiteForex offer a demo account?

    • Answer: Yes.

    • Question: What are the minimum deposit and withdrawal amount on LiteForex?

    • Answer: The minimum deposit and withdrawal amounts on LiteForex are both 10 USD.

    News

    LiteFinance Welcomes 2024 with Big Wins & Better Trading

    NewsLiteFinance Welcomes 2024 with Big Wins & Better Trading

    2024-02-07 14:22

    LiteFinance welcomed 2024 with New Year's promotions and enhanced trading conditions. Customers had the chance to win big with raffles and enjoyed lower fees for a profitable trading journey.

    WikiFX
    2024-02-07 14:22
    News
    LiteFinance Welcomes 2024 with Big Wins & Better Trading
    Monthly Japanese yen fundamental forecast

    NewsMonthly Japanese yen fundamental forecast

    2023-11-28 17:26

    Is there a correlation between faster wage growth and faster inflation? Conversely, do high prices trigger workers to demand higher wages, resulting in employers eventually agreeing?

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    2023-11-28 17:26
    News
    Monthly Japanese yen fundamental forecast
    Pound skating on thin ice. Forecast as of 19.10.2023

    NewsPound skating on thin ice. Forecast as of 19.10.2023

    2023-10-25 10:49

    The caution of the Bank of England, stagflation in the UK, and the crisis in the Middle East are pressing the pound down. Following a short correction up, the GBPUSD resumed falling and will hardly turn up in the near future. Let us discuss the Forex outlook and make up a trading plan.

    WikiFX
    2023-10-25 10:49
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    Pound skating on thin ice. Forecast as of 19.10.2023
    LiteFinance Faces Technical Issues in Company Servers

    NewsLiteFinance Faces Technical Issues in Company Servers

    2022-01-12 15:25

    According to the company, the server hardware provider faced a global technical failure. MT4 trading servers have been successfully restarted.

    WikiFX
    2022-01-12 15:25
    News
    LiteFinance Faces Technical Issues in Company Servers

    User Reviews

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    13

    Comments

    Write a review

    Ishaan 604
    more than one year
    Well, having trading with Lite Forex for almost 10 years. This broker has seen me through it all, from total newbie to the (hopefully) seasoned trader I am today, definitely the most reliable broker I've used. Spreads are always tight, the platform never crashes, orders are executed fast, and their customer support is great too. Seriously, some days I live and trade, and Lite Forex has always been there for me.
    2024-07-11 10:18
    Reply
    0
    0
    Khalid Ray
    more than one year
    Liteforex's high leverage is amazing for small accounts like mine (1:1000 for forex, 1:500 for commodities). Perfect for volatile markets like gold and GBP pairs, which is my jam. Plus, their support's awesome - got a dedicated account manager who replies fast!
    2024-05-08 16:32
    Reply
    0
    1
    yia
    more than one year
    LiteForex provides a user-friendly platform with a vast range of instruments. Their detailed analyses and diverse assets are truly helpful. Overall, a positive trading experience. 👍
    2024-04-26 15:55
    Reply
    0
    1
    sandra101
    6-12months
    scam, stop wasting your money and time it possible to get back your lost funds from a scam broker account because i was able to get back my own with the help and guide of maiI ; nick jover 4 at gm com , if y6ou have withdrawing issue with your investment broker
    2023-12-02 08:48
    Reply
    0
    0
    ゛╭ァonly me℡on
    more than one year
    After years of trying various forex brokers, I chanced upon LiteForex and, boy, can I say it has been a delightful discovery! From the word go, it was quite visible that the LiteForex team knows their stuff. The registration process was a breeze and their customer service, top-notch, responding promptly to my queries. Navigating through the LiteForex platform is both simple and enjoyable. I value how they've smartly organized all the necessary information and tools. After fruitful months of trading with LiteForex, I can assertively vouch for their service. Their commitment to delivering an efficient trading platform, customer-centric service, and commendable trading conditions have certainly won my confidence.
    2023-11-30 15:12
    Reply
    0
    1
    Carlzig6010
    more than one year
    I can't stop raving about how lightning-fast their withdrawal process is. I mean, seriously, it only took them around 2 days, and bam, the money was sitting snugly in my account. Compared to my previous experiences with other brokers, Liteforex stands head and shoulders above the rest. I've had my fair share of frustrations with sluggish withdrawals elsewhere, but Liteforex just blew me away with their efficiency. You know, it's not just about the speed; it's the reliability too. I feel like I can trust them completely.
    2023-11-28 16:24
    Reply
    0
    1
    Caren
    more than one year
    I think it’s one of the bad service out here Worst forex platform, He does nothing but move heaven and earth to hoard your money!! You can also see on this website that there are still many victims. Withdrawing don’t work, that’s why enjoy trading through benarmstrong-trades. com where I don’t have withdrawing issues, Do not trade with LiteForex. Totally a scam company.
    2023-03-05 00:49
    Reply
    0
    2
    Lucky71540
    more than one year
    Liteforex is great, guys. I traded with this broker three times a year, and every time, they offered me awesome trading services. They are always here to address my problems. Five stars⭐⭐⭐⭐⭐
    2023-02-21 21:29
    Reply
    0
    1
    霄辰
    more than one year
    I registered an account one weeks ago, and suddenly they told me that server is crashed… My account asked me to wait and what should I do now?
    2023-02-16 18:28
    Reply
    0
    0
    北冥有鱼65721
    more than one year
    Worst forex platform imaginable!!! He does nothing but move heaven and earth to hoard your money!! You can also see on this website that there are still many victims. Do not trade with LiteForex! Totally a scam company.
    2022-11-28 10:40
    Reply
    0
    0
    『我是你的小毛驴』
    more than one year
    The fact proves how stupid I am to choose them as my investment platform. Their account managers are not experts, and they are not professionals at all. I did what they suggested and lost a lot of money. Never trust them again.
    2022-11-25 16:05
    Reply
    0
    0
    金庸小迷弟
    more than one year
    NEVER trade LiteForex unless you want to lose all your money... I was trading when the site suddenly shut down! I can't do anything and I just lost my money. It says to compensate for this, but I have not received compensation for almost a year.
    2022-11-21 17:50
    Reply
    0
    1
    Nguyễn Trung PC
    more than one year
    fraudulent command intervention. Do not trade on this exchange
    2022-11-11 20:49
    Reply
    0
    0
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