The litefinance.com website is owned and operated by the LF Global group of companies. They include LiteFinance Global LLC, which is incorporated in St. Vincent & the Grenadines as a Limited Liability Company with registration number 931 LLC 2021 and Liteforex (Europe) Limited, which 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.
LiteFinance (formerly LiteForex) is an ECN brokerage that has been providing access to deep liquidity in the foreign exchange, commodity, and stock markets since 2005, the company claims. Customers can trade CFDs on major currency pairs and crosses, oil, precious metals, stock indices, and some cryptocurrencies through the well-known MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
LiteFinance offers two types of real accounts: an ECN account and a Classic account.
ECN Account – The company recommends that the ECN trading account is for professional traders with experience, as well as for investors and traders who wish to use the social trading service. This type of account offers access to deep liquidity with low floating spreads. Litefinance claims that execution is based on advanced ECN technology, which provides access to the best prices on the market, stable and guaranteed fast execution without requotes and conflicts of interest. The account offers an interest rate of 2.5% on excess funds, unlimited transactions and orders are executed directly with liquidity providers, the company claims.
Classic Account – The instruments have a floating spread, and the company claims that the account is designed for traders who have extensive trading experience and formed views on the market. Leverage can go up to 1:1000, giving access to high volume transactions.
The brokerage company offers several asset classes available with each account.
Currency pairs – You can trade major, minor and exotic pairs. The average spread depends on the account type and that for EUR/USD is 2.5 pips for a Classic account.
Commodities – Contracts for difference are available on Gold, Silver, Oil, Gas, Palladium and Platinum. The average spread for Gold is USD 0.052 and for Oil USD 0.082.
Indices – You can trade CFDs on major global indices, including the US30 and DAX 40. The average spread for the US 30 is 1.5 points.
Cryptocurrencies – CFDs on various cryptocurrencies are available. The average spread for Bitcoin is USD 385.
Leverage up to 1:1,000 is available for currency pairs and 1:50 for cryptocurrencies. When registering, users can select the desired leverage. Keep in mind that high leverage leads to a high risk of rapid loss.
LiteFinance offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. Developed in 2005 and 2010 respectively, these systems have become the most used platforms for online forex and CFD trading. Terminals can be downloaded on Mac or PC devices. Alternatively, the WebTrader interface allows you to trade directly from an online browser. Both platforms are user-friendly and can be customized easily. They provide multiple chart types including line, candle, and bar charts. MT5 offers more indicators and advanced analysis tools than MT4, including a built-in economic calendar, 21 timeframes, plus a market depth feature (Quotes Level II). Mobile apps are available for download on Android and iOS devices. Users get alerts, news notifications and a range of price analysis features.
Traders can deposit directly into their LiteFinance account via credit/debit card, bank transfer, WebMoney and AliPay. The minimum deposit for all accounts is USD 50 and payments are usually processed the same day. Customers can also fund their accounts with cryptocurrencies such as Bitcoin. The company offers an automatic withdrawal feature that allows traders to withdraw up to USD 100 per day within 24 hours. Withdrawal fees depend on the payment service provider.
The website offers various facilities like economic calendar, world market news blog, Fibonacci calculator and more.