LiteFinance (ex. LiteForex) review: Platforms, Trading Instruments and Broker Ratings.

2.383 • 218 REVIEWS
Updated: Nov 3, 2022
LiteFinance.com

What is LiteFinance (ex. LiteForex)?

LiteFinance, formerly LiteForex, is a forex broker founded in 2005 with a EU branch in Cyprus.

Lite Finance (ex. Lite Forex) offers platforms available in MetaTrader 4 (MT4), MetaTrader 5 (MT5) and LiteFinance proprietary mobile apps.

LiteFinance.com (ex. LiteForex.com) offers over 250 financial instruments on markets such as:

  • Forex currency pairs,
  • CFD stocks,
  • Stocks indexes,
  • Metals,
  • Oil
  • Cryptocurrencies etc.

Please read LiteFinance Reviews (i.e. LiteForex Reviews) below and share your live trading experiences with this broker.

July-November 2021:  An extremely large number of fake positive reviews have been submitted for LiteForex.
October 4, 2017:  The FPA Scam Finding against LiteForex dated September 17, 2013 has been lifted.  Two of the four traders involved have received their funds.  The FPA has seen evidence that the funds of the other two have been moved to their trading accounts.  All other terms to lift the scam finding have been met.  The FPA considers this issue to have been resolved.

We thank the CEO of LiteForex for her efforts in fixing these problems.
Rajivxxx and Ala Sadeq, please use the Contact Us link.  We believe your money is waiting for you in your trading accounts.

Other websites of this company include LiteForex.eu, LiteForex.org, LiteForex.com.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 1000:1
Minimum to Open Live: $50
Established: 2005
Address: First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, Saint Vincent And Grenadines
Contact: clients@litefinance.com, +447520644437
Regional offices:
Regulators:
Prohibited countries: Show all >>
Trading platforms: MT4, MT5, MobileTrader (MobileApp)
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (55+)
Cryptocurrencies: (65+) Bitcoin, Litecoin, Ethereum
CFD: (135+) Gold, Silver, Stocks, Stock Indexes, Oil

Trading Conditions

EAs/Robots: ✅ Yes
News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

Copy Trading: ✅ Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alipay, Bitcoin, Bitcoin Cash, Boleto, Ether/Ethereum, Litecoin, Local Bank Deposits, M-Pesa, Mobile Money, Monero, PerfectMoney, Ripple, WebMoney
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alipay, Bitcoin, Bitcoin Cash, Boleto, Ether/Ethereum, Litecoin, Local Bank Deposits, M-Pesa, Mobile Money, Monero, PerfectMoney, Ripple, WebMoney
2.383 • 218 REVIEWS

Traders Reviews

P
tehran, Iran, Islamic Republic of,
Feb 21, 2022,
Registered user

very high commissions , not great spreads

Service use: Demo Length of use: 0-3 Months
it is highest commissions i ever saw , 10$ per lot for majors and 20$ per lot for minors!!!! wow and spreads are no even that good. there are so many brokers providing much tighter spreads with half or less commissions.
E
Morocco, Morocco,
Jan 8, 2022,
Registered user

All is down!

Service use: Live Length of use: 3-6 Months
Website is down for one week so we can't withdraw our money? what happened?

Dec 7, 2021 - 5 Stars All is fine now and my problem was solved. thanks to LiteFinance representative. I wanted to remove my preview 'bad' review but I can't. I hope moderators help with this.

FPA Review Moderation Team Note: The FPA has a policy of "Resolved, not Removed" for many reasons.  One reason is...

Knowing if a company resolves problems or not is very important information to potential clients.


Dec 5, 2021 - 1 Star I made a deposit through ETH (it was all my savings) I waited for 2 days and nothing show up on my account. I'm sure I have sent to the right address and transaction hash is available and confirmed by the support. Still, the support says OK we find out the problem and we will solve it for you by tomorrow morning. OK I wait, then I contacted the support again in the morning, the support said we understand the problem and this will take up to one month to find your deposit and solve the problem. Now I'm asking you, is this a scam or should I wait for one month, even if I'm sure there is no problem that needs one month to be solved. please help me recover my funds from this broker (I think it's a scam)
A
Arslan
Kalyani, Pakistan,
Jan 4, 2022,
Guest

Server down intermittently after new year

Service use: Live Length of use: over 1 Year
What is happening to your company?? Website is disabled. No account is being logged in. All servers down. No response on Facebook.
A
Reply by LiteForex Official submitted Jan 7, 2022:
Dear Arslan,

We had some problems with our servers. At this moment trading servers restored, site will be restored soon. If you have questions about your trading positions contact our trading department please trading@litefinance.com

Best regards,
representative of LiteFinance (ex.LiteForex)
D
Taiwan, Taiwan, China,
Oct 13, 2021,
Registered user

biggest scam in FOREX market!! Liteforex 630000 USD SCAMMED!!!

Service use: Live
biggest scam in FOREX market!! Liteforex 630000 USD SCAMMED!!!
I made the first deposit of 50000USD on 23rd March, and then I found that the transaction conditions were not good, so I decided to withdraw the money immediately. Then I received a call from the LITEFOREX sales manager and he asked how I could continue to trade with them. They offered 70% rebate and swap free trading accounts, so I started trading. At first I lost, then I continue to deposit 50000 USD on 19th April and another 50000 USD on 27th April, a total of 150000 dollars. After that, I started to make profit by predicting the market direction correctly. So I began to make some withdrawals: 20000 USD on 4th May, 30000 USD on 9th May, and 50000 USD on 14th May. All of these withdrawals were successful, but after that all the withdrawals were rejected. From 21st May, they said they needed to check My trading accounts. During this time, I tried to communicate with LITEFOREX for multiple times, but every time they just responded perfunctorily and delayed the withdrawals.

Until 6th June 2018, they closed my accounts, as well as client backstage without informing me and without providing me any reasons! Two accounts have a total 627,303 USD balance!!

After they closed my backstage and trading accounts, they sent a letter to induce me to make a video record claiming that I used their swap free accounts to hedging with another platform for arbitrage. But I did not do this, and it was impossible to admit it. They were trying to collect this evidence from me and accuse me of violating their terms and conditions, and then they will be able to keep my money. This is really an unacceptable scam!!

From the beginning, the company was very nice and friendly, and the rebate was paid to the accounts regularly. However, all their purpose is to induce me to trade and deposit more, and later they refused to give my money back when I make profit!!

I guarantee that all my transaction was made under conditions and terms, and every holding time period was from a few hours to a few days without any platform loopholes. It’s not ethical that our profit is not given because the profit we gain by predicting correct market direction is all under regulations.

FOREX traders all over the world should see clearly the real face of LIFEFOREX and stop being victimized. We are determined to take any actions to get our money back!!


Today is October 13, 2021. He still hasn't returned the money to us

Jun 8, 2018 - 1 Star I made the first deposit of 50000USD on 23rd March, and then I found that the transaction conditions were not good, so I decided to withdraw the money immediately. Then I received a call from the LITEFOREX sales manager and he asked how I could continue to trade with them. They offered 70% rebate and swap free trading accounts, so I started trading. At first I lost, then I continue to deposit 50000 USD on 19th April and another 50000 USD on 27th April, a total of 150000 dollars. After that, I started to make profit by predicting the market direction correctly. So I began to make some withdrawals: 20000 USD on 4th May, 30000 USD on 9th May, and 50000 USD on 14th May. All of these withdrawals were successful, but after that all the withdrawals were rejected. From 21st May, they said they needed to check My trading accounts. During this time, I tried to communicate with LITEFOREX for multiple times, but every time they just responded perfunctorily and delayed the withdrawals.

Until 6th June 2018, they closed my accounts, as well as client backstage without informing me and without providing me any reasons! Two accounts have a total 677,303 USD balance!!

After they closed my backstage and trading accounts, they sent a letter to induce me to make a video record claiming that I used their swap free accounts to hedging with another platform for arbitrage. But I did not do this, and it was impossible to admit it. They were trying to collect this evidence from me and accuse me of violating their terms and conditions, and then they will be able to keep my money. This is really an unacceptable scam!!

From the beginning, the company was very nice and friendly, and the rebate was paid to the accounts regularly. However, all their purpose is to induce me to trade and deposit more, and later they refused to give my money back when I make profit!!

I guarantee that all my transaction was made under conditions and terms, and every holding time period was from a few hours to a few days without any platform loopholes. It’s not ethical that our profit is not given because the profit we gain by predicting correct market direction is all under regulations.

FOREX traders all over the world should see clearly the real face of LIFEFOREX and stop being victimized. We are determined to take any actions to get our money back!!

Reply by LiteForex Official submitted Jun 19, 2018 Dear danney5,

Your trading account was blocked from our side because you refused to provide us documents about source of funds and tax payments.

Your transactions aroused suspicion on the part of the bank also. Compliance officer of bank requested information about this funds from us and blocked our bank account. For unblock bank account with your money we need to provide documents about source of money and tax payments.

At this moment we received your documents and we already sent all documents for verification by bank. Our specialists contact you as soon as verification process be done.

For future dialog about your situation contact us via email please. Also we answered you on this forum in thread which you created before.

Best regards,

representative of LiteForex
2 traders have found this review helpful
I
Moldova, Moldova, Republic of,
Jul 16, 2021,
Registered user

these scammers have just canceled all my profits and half of the deposit

Service use: Live Length of use: over 1 Year
These scammers have just canceled all my profits and half of the deposit from my account 5505448.
Please add them to the blacklist
1 trader has found this review helpful
G
Nigeria, Nigeria,
Apr 14, 2021,
Registered user

Stop out scam

Service use: Live Length of use: 0-3 Months
I can’t believe it @LiteForex Official are sending me a margin call for my account that they disabled and i have no access to, i don’t understand how these people operate, you denied me access to my account and now you are saying that I should make a deposit to an account i have no access to then who would be responsible when the account is stop out again.

Mar 31, 2021 - 1 Star But why was my account disabled without any notification or reason, now you have denied me access to my own account why??

Mar 26, 2021 - 1 Star On the 25/02/2021 liteforex stop out my account despite the fact that i had over 287% margin level, at first I didn’t know that the account was actually stop out because when I called their local representative they told me that they are carrying out Maintainance, but its been over a month now they have not refund my money, be careful with liteforex they are not to be trusted

Reply by LiteForex Official submitted Mar 30, 2021 Dear Godnanco,

Please write email to trading@liteforex.com Our trading department will check everything.

Best regards,
representative of LiteForex

Reply by LiteForex Official submitted Apr 5, 2021 Dear Godnanco,

If you lost access to your profile or account you need to contact our support team via live chat or email. Our support team will help you to resolve this.

Best regards,
representative of LiteForex
1 trader has found this review helpful
B
Nigeria, Nigeria,
Mar 29, 2021,
Registered user

Stop out scam and falsification of account figures

Service use: Live Length of use: 0-3 Months
@LiteForex Official why are you afraid of discussing in the open.
And please what calculation are you talking about because there are two, one where you said my balance was $7500 or the second where you said my balance was $7425.57 how can an account have two different balance at the same time?
fellow FPA a calculations of my profit for that day before stop out, when add all profits and minus all losses, i made a profit of $339.76 which when added to my balance of previous day ($7252.86) my balance before stop out would be.(see attached screenshot)
$7252.86 + $339.76= $7592.62
@LiteForex Official Please check out my thread with same subject matter you would find attached evidence that you lied about my balance on two different occasions on your quest to steal my money, you tried to manipulate figures because i presented you with a calculations that shows your claim about my account were wrong, so the question is why should any one believe a word you said?
When ever you been confronted with evidence you avoid answering the question a sincere and transparent broker Wouldn’t do that

Mar 20, 2021 - 1 Star After a drawdown of almost-10500 On the 22/02/2021finally market stated moving in my favor and my floating loss was fluctuating between -4500 and -7000 just as i stated rejoicing that market was beginning to move in my favor my account was stop out by liteforex at around-6700, with out any justification, and because they knew what they did, that day for the first time they did not send my daily confirmation, when it happened at first I thought it was my network connection because i was practically looking at my mt4 both on my laptop and my phone, the account was no were in danger because at least i had over 280% margin level. At first when I contacted them they wrote ‘’100% bonus can be used as additional margin only and cannot be used in a drawdown’’ but i told them that i am not talking about bonus i am talking about my own funds, and beside the rule they are quoting is not written anywhere in their set of rules. despite asking them they refused to send me the details of my account like balance, equity, margin level and other details as at time of close out, at particular time when i challenged them in their traders chat forum they said yes that my balance was about $7500 even then they were not specific. (see attached screenshot) and they blocked me from the chatroom.
when I challenge on them about their claim that even by their fabrication that my floating loss was -8226.07 that my equity couldn’t have been -800.50 because my Equity would have been = 7554+-8226.07 = -672.07 and i asked were they got -800.50?? i ask for explanation after 5 days there was still no response then i raised the alarm on FPA then the respond and they request further questions should be sent to their email, which i did, but just when they noticed like i am loosing the fight they came back to FPA with another fabrication that my account balance was -7435.60 (remember at first they said my balance was about $7500). And that ‘’You bonus was 6754.60 $
Margin 2617.7
Equity = balance + bonus +- floating = 7425.57 + 6754.60 - 8226.07 = 5954.1
Margin level = Equity / margin*100 = 5954.1 / 2617.7*100 = 227.46’’ And I told them that even by their response my account still was not supposed to be stop out as there are only two conditions for credit stop out as per their conditions of bonus Nigeria use:
1. If the margin requirement to maintain open positions is less than the amount of bonus funds, the Stop Out will occur as soon as the equity level reduces to the margin requirement level.
2. If the margin requirement to maintain open positions is higher than or equal to the sum of bonus funds, the StopOut will occur as soon as the equity level reaches the level of bonus funds, or as soon as the Margin Level-reaches the value of 20%. https://lite.forex/promo/codes/?code=NIGERIA and my account did not fall into any of the conditions.
‘’I asked them a question on FPA ‘’please this is the same account on the 25/02/2021, with balance of $1097, the same leverage, the floating loss got as high as $1700 thats over 65% more than my balance but still was not stop out despite the fact that floating loss exceeded balance??
And i asked ‘please do you have different rules for different occasions or was i just targeted??’’ its been 9 Days now and still no response. Because there is no how they can justify selectively targeting peoples accounts.
When they change the figures of my balance again then i decided to manually calculate all my profits for that day and add it up with my closing balance of 19/02/2021 then I realized that my balance was even more than $7554 because after adding all my profit and -all my losses i made a profit of $339.76 which when added to my closing balance of 19/02/2021 it would be $7252.86 + $339.76= $7592.62 so my actual balance was $7592.62.(see attached) i wrote them and its been days still no response.
They would do anything and fabricate anything to justify their actions.
First they said my account balance was about $7500 when I challenged there figures with manual calculations they said no its $7425.57 and now after calculating my balance manually i released that my balance was $7592.62(see attached). Take it from me traders don’t trust any of their statements of account especially when they still your money always audit and you would realize that they the fabrications and fraud.

Mar 1, 2021 - 1 Star Dear LiteForex Representative,
1. So do you mean to tell me that the statement of account you sent to my email and the one I downloaded from my mt4 applications are wrong? Because as per the statement of account my account was stop out at at -6754.60!! If you say the statement you issued is wrong or false why then should anyone believe anything you say?? I am willing to share the statement of account for everyone to see.
2.how can my equity be in a negative area when i had over $7500 with a floating loss of just -6754?? And a free margin of at least 3000 how is it possible?
You claimed that my account was stop out 8226.07$, even so am not required under any rule to cover all floating loses, all i am required to do is to provide the margin required to maintain my open position. as per https://lite.forex/trading/account-types/ecn/ my account can only be stop out when my margin level is 20% or less but you stopped my account at over 250% margin level.
3. You keep mentioning bonuses anyone that knows liteforex knows that your bonuses are there for deceit because you can not use it for anything, once the market gets though you withdraw all your bonuses it’s something that everyone knows so please stop mentioning bonuses because they are useless, am talking about my own money $7500 that was stop out at -6754.60$ with a free margin of at least 3000.
Refund my money.....

Feb 23, 2021 - 1 Star dear FPA MY LITEFOREX MT4-ECN-189094 was unjustly stopped out by liteforex, my account of over $7500 and a free margin of around 3000 as at time of execution when my floating loss was -6754.60, i have been in contact with trading@liteforex.com but they still not refunding my money.

Reply by LiteForex Official submitted Feb 25, 2021 Dear Braima,

Please note that your credit has been deducted because your floating loss exceeded your balance. The amount has been deducted correctly.

Your total losses by deals closed by stop out were 8226.07$. You can find statement in your mailbox.

According to your data your equity was in a negative area: [so]: -30.6%/-800.5/2617.7, so it means that your loss was more than your balance on this meaning: -800.

Please note that 100% bonus can be used as additional margin only and cannot be used in a drawdown.

According bonus program conditions:

Bonus funds may be used as an additional margin. Trading may not be conducted by means of credit funds only. The bonus will be cancelled if the whole of client’s own funds is lost.

According to the Client Agreement:

7.2. The Company is unconditionally obliged to start closing unprofitable transactions on condition that account Margin Level becomes lower than the margin necessary for maintain in open positions (Stop Out). The necessary margin level is indicated on the Company's site in the section “Types of trading accounts”.

Best regards,
representative of LiteForex

Reply by LiteForex Official submitted Mar 23, 2021 Dear Braima,



We have already provided you with all the calculations, for additional questions write to trading@liteforex.com please.



Best regards,

representative of LiteForex
2 traders have found this review helpful
D
dont use this broker
PH, Philippines,
Mar 11, 2021,
Guest

TOO MUCH FEES!

Service use: Live Length of use: 6-12 Months
this broker charges the users too much fees. first from deposit. they charge from a high exchange rate between currencies. second is when the customer will withdraw the funds. they want you to withdraw with 2 different options so they can charge you with different transaction fees. see how greedy this broker ? i wont recommend this broker .
D
Reply by LiteForex Official submitted Mar 15, 2021:
Dear client,

Our company does not charge a commission for deposits and withdrawals. All commissions entirely depend on the payment systems that customers use. Besides,  if the commission was from the payment system, we will compensate it. This opportunity is available for several payment methods. All information about this everyone can read on the LiteForex website in the deposit / withdrawal section.

Best regards,
representative of LiteForex
S
India, India,
Mar 9, 2021,
Registered user

Scam broker. Take you money and run away from them

Service use: Live Length of use: 3-6 Months
I opened an account in lite forex couple of months back . They offered me fixed spread account . When i enquired about the fixed spread they told me that they are currently offering fixed spread account . I installed a a trade copier ea , as i was having multiple accounts . I traded during market open. I scalp during market open . I managed to double my account in a short period of time
. I got sckeptical back then.... reading reviews on Fpa ... So i decided to withdraw some money... Then i realised that they were not processing the withdraw request . There is a mechanism in lite fx if we withdraw below 100 dollars it will be withdrawed instanly ...one withdraw per day... Using that method i managed to withdraw my capital which is 400 dollars . Then they showed their true face to me in september 2020 . They deleted all my profits and left me with 30 bucks. They told it is illegal tradig . Non market price all that....
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
My account numbrr is : 548818
Lite forex classic com
Password : akonthiam123
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

When i told about the money they told me that it will not be transferred to me.. i lost 450 dollars to these scam broker...
I have shared my full account information above login to mt4 and see for your self....
Please FPA admins...please help me to get my money back or blacklist them as scam brokers

Jul 13, 2020 - 2 Stars I have been copy trading a master trader for couple of months now. At first there was no price difference in trading . The prices were almost same as that of copy trading. I stopped copying for couple of weeks and when I started copying him again the prices differences were insane . There was 2-3 pips difference in prices. My master trader makes quick scalps with huge lot sizes but due to this price difference when the master makes 1-10 $ for instance I lose $1-3 . What is the point in copy trading like that. I wrote many times to socialtrading@liteforex.com but nothing.... .

Reply by LiteForex Official submitted Jul 24, 2020 Dear sangeethsunil99,

For resolving such questions I recommend you to write email to clients@liteforex.com And you will get answer during 24 hours.

Best regards,
representative of LiteForex Investments Limited
1 trader has found this review helpful
F
Sydney, Australia,
Feb 21, 2021,
Registered user

Is it really a forex broker?

Service use: Live Length of use: Have not used
I wanted to open an account in liteforex. Earlier i was sammed by IRONFX and that is why i was a bit skeptical with LiteForex. I wanted to make a small deposit with the broker. I opened an account with Liteforex, I got amazed that without any kind of identification they system is allowing me to deposit money. This is not professional at all, as I know at the time of withdrawal they will ask all sort of identification to delay the withdrawal.

However i insisted them to verify my account at the very beginning and it got verified after 2 days. Then I tried to make a deposit with my bank card and its not going through. I am from Australia and my card is provided by the biggest bank of Australia. Liteforex system can not accept my card instead they insisted me to deposit by using other c***** method like bitcoin, skrill, neteller etc.

If it cannot accept card from the biggest bank of Australia i can not trust them at all, by depositing bitcoin. I assume they are not maintaining proper banking channel to collect money from the client and that is the only reason, they are unable to take money from a legit bank of Australia.
1 trader has found this review helpful
F
Reply by LiteForex Official submitted Feb 22, 2021:
Dear forexau,

Thank you for your feedback. Each broker has its own characteristics for the use of payment systems. We will check possibility of using bank cards from Australia.

Best regards,
representative of LiteForex
Page 1 of 26

Frequently Asked Questions

What leverage does LiteForex offer?

Lite Forex offers a leverage size from 1:1 to 500:1 for both their Classic and ECN accounts.

What is the minimum deposit to open an account with LiteForex?

The minimum deposit to open either Lite Forex Classic or Lite Forex ECN accounts is $50.

Is LiteForex regulated?

LiteForex is registered in Marshall Islands, it is currently not regulated by any regulatory authority.

In other words, there is no designated government or non-government body to supervise the activities of LiteForex or to resolve complaints.

Does LiteForex allow scalping and news trading?

Lite Forex allows scalping and news trading for their ECN accounts.