Forex Broker Review: LiteFinance

LiteFinance has provided brokerage services since 2005. The company's favorable trading conditions have attracted more than 1 million active traders. LiteFinance's clients can access the latest analytical materials, signals, and training articles to make forecasts easier. They can trade in Classic or ECN accounts with tight spreads and at the best prices in the Forex, stock, and commodity markets. The company's dedicated trading platform provides over 150 financial instruments: currency and crypto pairs, cross rates, CFDs on shares, oil, and precious metals. Besides, LiteFinance's traders can open accounts on the most popular platforms — МТ4 and МТ5.

Why trade with LiteFinance

One of the main trading advantages at LiteFinance is ECN accounts, which means the trader's transactions are transmitted to the market via liquidity providers. LiteFinance works with several liquidity providers so that the trader can trade with raw spreads and no requotes at the best market price (Market execution). The broker's fees are really low because the number of its active clients is huge.

For example, the spread on the most popular Forex pair EURUSD starts from 0 points in ECN accounts and 0.00002 points in Classic accounts. The fixed commission on stock indexes is just $0.5 per lot in ECN accounts and is not applied to Classic accounts. The commission on shares is just 25 cents per share, one of the lowest in the market regarding raw spreads.

LiteFinance has developed a comfortable trading environment where user data is safe, and money can be easily withdrawn.

The minimum deposit is $50 in Classic accounts, and the recommended minimum deposit for ECN accounts starts from $500. Regardless of their deposit, all LiteFinance clients are provided the same quality of service. The company's reliable reputation makes sure that they can trade with the lowest risks and highest profits.

Available markets and trading assets

Three major financial markets are open to LiteFinance's clients: currency, stock, and commodity markets. Traders can use more than 150 various assets.

Currencies

Currency trading is the main direction of LiteFinance's activities in Forex. The broker provides access to the unlimited liquidity of the world's currencies. Besides popular currency pairs, users can access a variety of exotic instruments and cross rates. LiteFinance allows its traders to hedge and diversify risks and ensures instant execution of orders.

Commodities

Oil and precious metals attract traders during economic crises because their rate is not susceptible to drastic movements. Commodities are traditionally considered a safe haven for investors where they can save money and wait for a storm to calm down. On the LiteFinance platform, you can trade two major oil benchmarks and the most popular precious metals, like gold, silver, platinum, and palladium.

Stock indexes

Stock indexes are a barometer of a country's or a sector's economic health. They usually include at least 20 stocks of various companies grouped together based on some criteria. Thus, their price almost cannot turn negative: for that to happen, a global financial crisis has to unfold, or one of the major companies included in the index has to go bankrupt. And such fundamental developments are usually easily predicted as they are due to objective economic factors. So, investing in stock indexes is normally used to diversify risks. LiteFinance provides access to 11 leading global indexes, including S&P 500, DJIA (Dow Jones), and NASDAQ.

European and American stocks

As an alternative to traditional investments, the LiteFinance broker offers CFDs on shares. This option turns out more profitable in most cases as it allows one to profit from a price difference without owning the real asset. Some companies' stocks cost really much, and dividend payments may not be regular during difficult financial times. LiteFinance provides access to CFDs at the biggest US stock exchanges — NYSE and NASDAQ — and three European exchanges: EURONEXT, LONDON LSE, and XETRA.

The minimum raw spread starts from 0.01 points for most stocks.

Trading account types at LiteFinance

LiteFinance features two types of trading accounts: Classic and ECN. Their main difference is how the broker's commission is calculated. The broker's commission includes a market spread and markup in CLASSIC accounts. In ECN accounts, the broker charges a fixed fee plus a raw spread.

Besides, ECN accounts allow the trader to use speculative strategies and news trading and do not impose limits on how long a trade should last. Any conflicts of interest are excluded in such accounts as assets are bought or sold through liquidity providers.

A Classic account will better suit experienced traders who know the market well and prefer traditional time-proven techniques.

LiteFinance's trading platforms and technologies

Trading platforms give traders access to financial markets. On trading platforms, traders can go over price charts, buy or sell assets, and have the necessary information to analyze a market situation. LiteFinance's clients can trade on three platforms: MT4, MT5, and the broker's dedicated web platform.

MT4 and MT5

MT4 is focused on the currency market, and its user-friendly interface made it extremely popular with traders. Compared to modern platforms, its set of functions is somewhat limited, but most users find it's enough for doing complete analysis.

MT5 is a higher-tech trading platform. The main difference is that this platform grants access to the stock and commodity markets and allows trading there simultaneously. It features more functions, allowing traders to make more accurate predictions based on statistics and various graphic analysis tools.

LiteFinance web platform

LiteFinance has worked out a dedicated trading web platform so that its clients can work with more comfort. Trades opened on the online platform are automatically synchronized with MT4 or MT5, and the client can trade on both platforms simultaneously. LiteFinance invested all its accumulated experience into developing this web platform, so it combines the advantages of popular platforms and is easy to use.

LiteFinance's platform is a fully-developed trading system. It's fast, user-friendly, and multifunctional. The clients can choose from various liquid trading instruments: currencies, cryptos, metals, stocks, and stock indexes. The platform features signals, analyses, and trader chats so that LiteFinance's clients from all over the globe can share experiences. They can also subscribe to channels like the traders' blog, where professional traders regularly publish new training materials.

The platform allows one to open a demo account without registration. So, beginners can start figuring out the platform easier and faster while experienced traders can perfect their strategies.

Beginner traders will also be interested in a copy trading function. The LiteFinance platform allows clients to analyze all trading instruments deeply and comprehensively. More than 75 graphic analysis instruments are built into the platform.

Other advantages include a built-in economic calendar, automated withdrawals up to $5,000 a day, and Islamic swap-free accounts. The web platform executes orders based on STP/NDD technologies, so price slippage is excluded.

The platform's social component is worth a special mention. Built-in chats serve as a fully-fledged analytical tool as they allow users to receive up-to-date market information directly from their go-to peers. Those who want to attract investors or share forecasts with a large audience can set up as many thematic chats as they want. Thus, the trader can subscribe to such channels and keep current on market events better than with official sources.

The platform runs in a browser and is adapted to any device so that traders can do trading at any convenient time on their computer or mobile phone.

Copy trading system

The copy trading option will suit beginner traders who are just setting off and are not confident about their trading decisions. They can rely on professional traders' experience and significantly reduce trading risks. Contrary to the PAMM system, the client does not put their money in another person's account. It's kept in the client's account. Trades are automatically copied from an experienced trader's account to the attached investors' accounts.

Users can choose their best-suited traders from the list, ranging them by risk and profitability. Then they can start copy trading.

Affiliate programs

LiteFinance's affiliate programs are an alternative way of earning money through a broker. Such programs aim to attract new clients that will yield profits for the company. The broker shares such profits with its partners. Participation in an affiliate program can generate extra profits or be a fully-fledged business.

Revenue Share program

A user registers on the platform as a partner and gets a personal affiliate link. A client who opens a profile using the link and pays a $100 deposit is called a "referral." The partner earns a commission of up to $15 from referrals’ trades. When a referral registers in an affiliate program, they become a sub-partner. The partner will then receive an extra 10% of their profits. Under this program, the partner can set a cashback for their clients.

CPS program

Participants in this program can earn up to $50 for each referral and 10% of each sub-partner's trading volume. The difference is that the partner is paid a commission after a referral has conducted 50 trades of at least two lots in total.

LiteFinance's hall of fame

LiteFinance's high-quality service and cutting-edge products have been recognized by clients and go-to thematic magazines worldwide. The company has been awarded more than 20 titles.

The latest ones include the Global Brands magazine's awards for the Best Forex trading software in Africa and the development of the most innovative online trading technologies. LiteFinance's mobile trading platform has also been awarded the best platform title at Smart Vision Investment Expo 2021 in Cairo.