LiteFinance Review

LiteFinance Ratings at a Glance

The online ECN broker LiteFinance has been providing its clients access to Tier 1 liquidity in the currency, commodity and stock markets since 2005. All major currency pairs and crosses, oil, precious metals, stock indices, blue chip stocks and a decent selection of cryptocurrency pairs can be traded at LiteFinance.  

If you already have experience trading forex, then you will probably be pleased to learn that LiteFinance supports the online forex trading platforms MT4 and MT5, which feature social trading and expert advisor (EA) automation capabilities. 

Those who have limited experience trading forex can access a wide range of helpful materials and tools. These include a comprehensive forex glossary, forex webinars, books on forex trading, a compendium of trading strategies from professional traders and a demo account so you can practice trading without committing funds. 

Regardless of your experience level, you can take advantage of LiteFinance’s social trading network. Beginners can copy successful traders’ trades, communicate with other traders around the world and sharpen their own trading skills. Experienced and professional traders can earn commissions from letting other traders copy their trades.

In addition to the wide array of trading tools, EAs, technical analysis and research resources on the MetaTrader platforms, LiteFinance clients have free access to expert market analysis provided by Claws&Horns, an independent online market analytical company. 

Website screenshot showing the benefits of Claws&Horns’ analysis services. Source: LiteFinance. 

As shown in the LiteFinance website screenshot above, Claws&Horns’ services include fundamental analysis, an economic calendar, technical signals and indicators, technical analysis and video reviews of different world markets.  

Customer service at LiteFinance consists primarily of a 24-hour live chat feature on the broker’s website. LiteFinance’s live chat features three chat options: 

• General customer inquiries: The general customer inquiries chat feature is available 24 hours a day from Monday through Friday.
• Partnership department: The partnership department chat service is available from 9:00 a.m. until 6:00 p.m. (GMT + 2) Monday through Friday. 
• Financial department: The company’s financial department chat feature is available 24 hours a day from Monday through Friday.    

Other options for communicating with LiteFinance’s customer support are via email to clients@litefinance.com, a Skype address: liteforex.support and Telegram at LiteFinanceSupport. 

While no centralized phone number is available for the main office in St. Vincent and the Grenadines, you can access LifeFinance’s impressively multilingual customer support in 15 languages. You can also call any of its 18 office locations situated in: 

• Afghanistan
• Cambodia
• Egypt
• Ghana
• Indonesia
• Iran
• Kyrgyzstan
• Mongolia
• Morocco
• Myanmar (Burma)
• Nigeria
• Philippines
• Singapore
• Tajikistan
• Tanzania
• Thailand
• Uganda
• Vietnam

The LiteFinance group of companies guarantees that its clients’ personal information remains confidential, and it takes prudent steps to ensure security when clients conduct non-trading operations. The HTTPS (hypertext transfer protocol secure) data encryption protocol used in the personal profile is designed to transfer data between a client and a server securely. It also excludes the possibility of a client's personal data being intercepted.

Additional security measures such as two-party authentication can be enabled in the Client Profile. You can also log into your account using Google, SMS and email authentication spending on your preferences. If you use SMS or email authentication, you will receive a single-use code via SMS or email every time you try to log in to your profile. 

To use Google authentication, you download the Google Authenticator App from the Google App Store and install it on the device you will be using to trade on. This authentication method involves receiving a single-use code generated by the Google Authenticator App every time you log in to your profile. 

You can open a LiteFinance ECN or Classic trading account with as little a minimum deposit as $50. Both types of accounts offer an impressive leverage ratio of up to 1,000:1. 

The broker’s ECN account also offers floating dealing spreads starting at 0 pips, while floating dealing spreads shown to traders using the broker’s Classic account start at 1.8 pips. No commissions outside of the dealing spread are charged in the Classic account, but the ECN account has a commission charged on top of the dealing spread depending on the asset involved. 

The table below shows how the two trading account types compare. 

* Commissions and Negative Balance Protection for the ECN account:

1. Forex currency pairs: Majors - $10 per lot, crosses - $20 per lot and minors - $30 per lot.
2. Other assets: Metals - $20 per lot, oil - $0.5 per lot, share contracts for difference (CFDs) - $0.25 per share and stock indices - $5 per contract. 
3. Cryptocurrency: A commission of 0.12% of an asset’s market value is charged on crypto pairs upon initiating a position.
4. Negative balance protection: If a client account goes to zero, LiteFinance applies negative balance protection converting client losses to zero and avoiding putting the client in debt to the broker. 

If you have an ECN account, then your orders are routed directly to liquidity providers by LiteFinance’s servers for competitive quotations and dealing spreads. News trading and scalping are also allowed, and you get market executions with no requotes. 

In addition to the features listed above, LiteFinance awards its clients multiple forex bonuses and promotions, including a 100% forex deposit bonus of up to $1,000. You can find out more about LiteFinance’s forex deposit bonuses here. 

Other promotions include a Best of the Best forex demo contest where you can open a contest forex account and use available trading tools. The five most profitable traders using the least amount of risk split a prize fund of $10,000. 

LiteFinance also has localized trading contests such as the Great Hundred Contest exclusively for forex trading in the Philippines. From October 2022 until October 2023, Philippine traders who deposit $500 or more and trade at least 50 lots are eligible for this contest. All Philippine trading accounts funded with $500 or more can take part in the competition. Awards include: 

• 1st place: Toyota Fortuner SUV
• 2nd place: Kawasaki Ninja motorbike
• 3rd place: Honda CBR motorbike

If you have an interest in forex investing in the Philippines, then LiteFinance has an affiliate programs department where you can inquire if you qualify for an account. 

LiteFinance’s website is easy to navigate and includes a blog, the Clients Trading Cabinet, a beginners section with a forex glossary, webinars, books, trading strategies, reviews and a link to open a demo account. You can also check out the latest quotes on forex pairs, commodities, NYSE shares, NASDAQ shares, EU shares and stock indices. 

Screenshot of the MT5 trading platform supported by LiteFinance. Source: MetaQuotes. 

The broker supports the MT4 and MT5 trading platforms, which most experienced forex and CFD traders will appreciate and already be familiar with. The 24-hour access to the broker via the live chat website button during the trading week is also a big plus, as well as the number of regional offices around the world and multilingual access to customer service. 

The general utility and quality of the broker’s supported trading platforms, its well-rounded and multilingual customer service and its user-friendly website deserve the best user experience rating available.   

LiteFinance vs. Competitors

LiteFinance compares favorably to other similar online brokers. The chart below shows how LiteFinance compares to other brokers.

Although it operates from an offshore base jurisdiction, LiteFinance appears to be a quality broker with a large client base worldwide. The advantages of using LiteFinance as a broker include access to very high leverage, support of MT4 and MT5 trading platforms, a wide range of tradable assets, access to Claws&Horns’ expert market analytics, social trading and responsive multi-lingual customer service. 

In addition to offering an extensive set of educational tools and access to a demo account, LiteFinance holds promotional contests for traders with cash and product rewards that could definitely make it worth your while to participate. The firm currently has a contest for demo account traders and a regional contest in the Philippines.  

While commissions may seem somewhat high for the broker’s ECN account, the account’s tight dealing spreads and the fact that you will not get requotes on market orders somewhat make up for the pricey commissions. 

The slightly lower-than-perfect overall rating for LifeFinance is due to the fact that while you can trade multiple asset types, including forex, indices and commodities, investing directly in stocks cannot be done via LiteFinance. So, even though you can trade stock indices or CFDs on stock shares, LiteFinance does not provide its clients with direct access to traditional equities trading.  

Frequently Asked Questions