Among the countless cryptocurrency brokers on the market, LiteFinance has attracted the attention of many participants thanks to its attractive services and features. However, before participating in any exchange, investors need to carefully evaluate the reputation of the exchange. To clearly understand what LiteFinance is? How reputable is this trading platform? Please join SanForex to find out detailed information in the article below.
What is LiteFinance?
Established in 2005, LiteFinance (LiteForex) has quickly affirmed its position as one of the world’s leading financial service providers. The exchange has headquarters located in the Marshall Islands and Cyprus, with a network of representative offices spanning across continents, including Vietnam. LiteForex offers investors a variety of financial products, from foreign exchange, US stocks to many other derivatives.
LiteFinance belongs to LiteFinance Global LLC, famous for its advanced ECN technology. With more than 1 million investors, Liteforex has been constantly improving to provide the best trading experience. On average every day, from 70 to 130 new investors choose LiteFinance, affirming the market’s trust in this modern and professional trading platform.
LiteForex has continuously expanded its scale of operations, present in 216 countries and has representative offices in 15 countries. In addition, the MT4 and MT5 platforms, along with the Lite App developed by MetaQuotes, provide investors with a modern, professional trading experience.
LiteFinance is managed by which reputable agency?
LiteForex possesses nearly 20 years of experience in the field of foreign exchange trading, always putting investor safety and transparency first. Therefore, the exchange has continuously strived to gain operating licenses from reputable financial management agencies in the world. Holding CySEC and Marshall licenses is a clear demonstration of this commitment.
CySEC – No.230122
To obtain an operating license from CySEC, LiteFinance had to meet strict financial and operational standards. This includes possessing a minimum capital of 750,000 Euro, providing complete information about products and services, and carrying out regular financial reporting. Meeting these requirements shows LiteForex’s commitment to building a safe and transparent trading environment for investors.
The CySEC license ensures LiteFinance operates in compliance with strict European Union (EU) regulations, especially the MiFID directive. This means that investors’ money is protected in a separate account, preventing the risk of capital loss in case the exchange encounters difficulties. Furthermore, investors also enjoy benefits from a compensation fund of up to 20,000 € in case of risks.
Marshall – No.63888
The Republic of the Marshall Islands, a freely associated country, has granted LiteForex business license number 63888. Marshall licenses, which are quite popular in the Forex industry, offer many incentives such as income tax reduction and increased leverage. for customers.
Unlike the Marshall license, achieving CySEC certification requires the exchange to meet extremely strict standards and undergo a rigorous appraisal process. Therefore, owning a CySEC certificate proves strong investment, seriousness in business and commitment to providing a reputable trading environment for investors.
LiteFinance award received
LiteFinance is a name that has become familiar to investors globally, continuously affirming its leading position by winning many prestigious awards such as best ECN broker, best Copy Trade trading platform. and the best retail Forex trading platform.
Highly appreciated by experts and the investment community at prestigious forums such as Investing.com, World Finance, ForexFactory, Top10ForexGlobal, LiteFinance has proven its stability, transparency, and outstanding service quality.
LiteForex account
LiteFinance has made significant changes in its trading account structure. Previously, investors could choose between three account types: Cent, ECN and Classic. However, currently the exchange focuses on two main account types: ECN and Classic, along with Demo accounts for learning and experience purposes.
Each account type is specifically designed to suit the level and needs of each investor, from beginners to seasoned experts. The special thing is that LiteFinance sets an extremely low starting capital, from only $50 to open an ECN account. This opens up opportunities for anyone who wants to try their hand at the financial market without needing too much capital.
Compared to other exchanges, the starting capital requirement to open an ECN account is significantly higher, up to $200. With a low fee of only $50, LiteForex has created a level playing field, making it easy for new investors to access and explore modern trading tools.
Reference information table for LiteFinance account types:
| Account type | ECN | Classic |
| Trading platform | MT4/MT5 | MT4/MT5 |
| Minimum deposit | $50 | $50 |
| Leverage | 1:500 – 1:1 | 1:500 – 1:1 |
| Commission | 5$ | Free |
| Spread | Floating, from 0.0 | Floating, from 1.8 |
| Minimum lot | 0.01 | 0.01 |
| Maximum lot | No | No |
Classic account
One of the outstanding strengths of the Classic account on LiteForex is its extremely high leverage, up to 1:500. This gives investors the opportunity to significantly increase profits. Besides, the Classic account has no trading time limit and does not impose any restrictions on Stop and Limit orders.
According to LiteFinance’s assessment, the Classic account is specially designed for experienced investors. With five-digit quotes, high leverage and the ability to trade high volumes, this account is the perfect choice for those who want to apply complex strategies, making the most of opportunities in the markets.
ECN account
LiteForex’s ECN account, despite being charged a commission, is the perfect choice for professional investors and those who prefer short-term trading, especially scalping. With the ECN structure, trading orders are executed directly on the interbank market, ensuring transparency and extremely high order matching speed. This helps significantly reduce the risk of orders being requoted, while also saving transaction costs thanks to extremely low spreads.
Another plus point of the ECN account on LiteFinance is the program that pays 2.5% interest per year on unused account balances. This means that investors not only have the opportunity to make profits from trading, but can also earn additional passive income from their deposits. Although the interest rate is not too high, this is still an attractive incentive to help investors optimize profits from invested capital.
Demo Account
Demo accounts open the door to the world of Forex trading safely and effectively. Whether you are a beginner, an experienced investor or want to test a new trading strategy, a demo account becomes a useful tool to familiarize yourself with the markets and improve your skills.
With a demo account, you will be able to trade with a virtual balance, completely free of charge. This eliminates all financial risks and focuses on learning and practicing trading skills. The trading environment on the demo account is designed to be identical to the real account, from the interface, analytical tools to price fluctuations. Thanks to that, you can confidently experience and practice trading skills without fear of loss.
Opening a demo account is very simple and fast, with just a few mouse clicks. You will be provided with a professional trading environment to explore and master popular platforms such as MetaTrader.
LiteForex trading platform
LiteFinance brings investors professional trading experience with two of the world’s leading platforms, MT4 and MT5. The exchange offers a variety of trading products, from popular currency pairs to stocks and stock indices, helping you diversify your investment portfolio. With an intuitive, user-friendly interface on both computers, mobile phones and web platforms, you can trade anytime, anywhere with just one click.
To download the MT4 or MT5 trading platform, simply visit the “FOREX TRADING” section on the official LiteForex website. MT4 has a friendly interface and many specialized tools that are still a popular choice for many Forex traders. However, if you like to explore and want to experience new features, MT5 is worth considering.
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) both provide a flexible field, allowing users to freely open, close, manage, do technical analysis, and automate trades. However, there are still some notable differences between these two platforms:
| Features | MetaTrader 4 | MetaTrader 5 |
| Launch year | 2005 | 2010 |
| Interface | Simple, easy to use | More modern, more features |
| Types of trading assets | Mainly Forex | Forex, stocks, futures, CFDs, ETFs |
| Time frame | More limited | More flexibility, many customizable timeframes |
| Technical indicators | 30 | 38 |
| Object of analysis | 33 | 44 |
| Loại lệnh | 4 types of pending orders | 6 types of pending orders |
| Automated trading system | MQL4 | MQL5 |
| Market analysis | Basic | More advanced, with additional analysis tools |
| Economic calendar | Not integrated | Built-in |
| Dept of Market (DOM) | No | No |
Copy Trade LiteFinance social network
LiteForex is not only a reputable forex trading platform but also stands out with its extremely impressive Copy Trade feature. Thanks to this feature, LiteFinance is continuously ranked top in the list of “Forex exchanges with the world’s leading social trading networks.
The Copy Trade interface is designed to be intuitive, helping investors easily grasp information about Master Traders and trading performance. LiteForex divides the Copy Trade social network into 2 main parts: trading overview and rankings, helping investors easily find a suitable Master Trader.
LiteFinance offers 4 different Copy Trade modes, giving investors many options to suit their investment style and goals:
- Proportion to my funds: Copy trades in a certain proportion of your capital.
- Copy full size 1:1 ratio: Copy trades with the same size as Master Trader.
- Fixed size of each trade: Copy trades in fixed volumes.
- % trading volume: Copy trades by a certain percentage compared to the Master Trader’s volume.
Opportunities to earn extra income for Master Traders:
- Attractive commissions: When other investors copy your orders, you will receive a commission from the exchange.
- Share knowledge: You have the opportunity to share your knowledge and trading experience with the investor community.
Benefits for new investors:
- Learn from experts: You can learn from experienced Master Traders and grasp effective trading strategies.
- Reduce Risk: By copying the orders of successful Master Traders, you can minimize risk and increase your chances of success.
- Save time: You do not need to analyze the market yourself but can rely on the decisions of Master Traders.
LiteForex trading products
LiteFinance offers investors a rich and quality product portfolio, helping you diversify your investment portfolio and optimize profits.
- US stocks: LiteForex focuses on leading companies, ensuring high liquidity and great profit potential. Besides, the exchange also provides world-famous stock indices such as ASX200, NI225, FTSE, YM, CAC,… to help you grasp investment opportunities in major financial markets.
- Cryptocurrency: LiteFinance constantly updates and expands its portfolio of cryptocurrency pairs, meeting the need to invest in the rapidly growing virtual currency market. Currently, the exchange offers more than 15 popular cryptocurrency pairs such as Bitcoin, Ethereum, EOS, Ripple,…
- Forex currency pairs: With nearly 60 different currency pairs, including popular and cross currency pairs, LiteForex gives you many options to build a suitable trading strategy.
- Precious metals: Gold, silver, platinum and palladium are precious metals favored for their high liquidity and ability to preserve value in times of instability. LiteForex allows you to trade precious metals 24/7, except weekends.
- Crude oil: Brent oil and WTI oil are the two most popular types of crude oil in the world, attracting the attention of many investors.
LiteFinance leverage, spreads and costs
LiteForex offers different levels of leverage, commissions and spreads for each account type and trading product. Below is a detailed analysis of each of these fees to give you the best overview:
Leverage
LiteFinance offers various leverage levels for trading products, from 1:50 for US stocks to 1:500 for currency pairs. The leverage level will vary depending on the account type you are using (Classic or ECN) and the type of trading instrument (Forex, stocks, indices, metals, oil, cryptocurrencies).
Commission fee
LiteForex is commission-free on many products, with a Classic account you only pay fees when trading CFD stocks. ECN NG accounts have quite competitive average commission fees compared to other exchanges.
Spread
ECN accounts have very competitive spreads, especially the EUR/USD pair which is only 0.0 pip. Spreads at LiteFinance may change depending on market conditions.
LiteForex deposit and withdrawal portal
LiteFinance not only stands out with its professional trading platform but also provides fast, convenient and safe deposit and withdrawal services:
- Electronic payment gateway: LiteForex supports many popular electronic payment gateways such as Perfect Money, Neteller, Skrill, Visa,…
- Cryptocurrencies: The exchange also accepts payments in many popular cryptocurrencies, meeting the needs of investors who prefer this form of payment.
- Domestic transfer and Ngan Luong: LiteFinance supports domestic transfer and Ngan Luong e-wallet, making transactions more convenient for Vietnamese customers.
LiteForex’s deposit and withdrawal system is automated, helping you complete transactions in just a few seconds to a few minutes. For most deposit and withdrawal methods, LiteFinance is completely free of transaction fees. For amounts larger than 5000 USD, LiteForex commits to processing within 2 hours.
If any fees arise from the payment gateway, LiteFinance will assist in refunding you. LiteForex’s customer support team is always ready to assist you anytime, anywhere.
LiteFinance customer support service
One of the factors that help LiteForex win the trust of investors is the quality of customer service. With a professional Vietnamese customer support team, LiteFinance is always ready to support you anytime, anywhere.
LiteForex’s customer support team is well-trained and has in-depth knowledge of the financial markets and trading products of the platform. Support staff always communicate clearly, concisely and politely, making it easy for you to understand the information you need. You can contact the support team through many different channels such as online chat, Telegram, Zalo, Facebook or phone call.
LiteFinance’s customer support team is available 24/7, ready to answer all your questions whenever you need them. To ensure the most accurate and up-to-date information is provided to customers, LiteForex’s customer support team is regularly trained and tested on their knowledge.
LiteFinance educational resources
LiteForex is also an invaluable treasure of knowledge for those who are looking for success in the financial markets. With professional support tools and documents, LiteFinance helps investors be more confident in every trading decision.
Fibonacci calculator
With just a few simple steps, you can identify important Fibonacci levels, thereby making effective price forecasts. LiteForex’s Fibonacci calculator is designed with a friendly interface, making it easy for users to use even without technical knowledge.
LiteForex Blog
From the basics for beginners to in-depth analysis for professional traders, LiteFinance Blog has it all. All articles are translated into Vietnamese, helping Vietnamese investors easily access and understand the content. LiteForex’s team of experts will share practical experiences and in-depth analysis of the market, helping you make wise investment decisions.
In-depth analysis from Claws & Horns
Claws & Horns is a reputable independent analysis company, providing objective assessments of currency pairs. When you open an account at LiteFinance, you will get free access to the most in-depth and up-to-date analysis from Claws & Horns.
Summary of advantages and disadvantages of LiteForex
LiteFinance is one of the foreign exchange exchanges chosen by many Vietnamese investors. The exchange possesses many outstanding advantages but also has certain limitations.
Advantage
- Product diversity: LiteFinance offers a wide range of trading products, from popular currency pairs to stock indices, commodities and cryptocurrencies, helping investors diversify their portfolios.
- Fast transactions: The exchange supports quick deposits and withdrawals, even on weekends, bringing maximum convenience to investors.
- Professional customer support: LiteFinance has an enthusiastic and experienced Vietnamese customer support team, always ready to answer all customer questions 24/7.
- Social Trading Network: LiteFinance’s Copy Trade feature helps new investors learn from experienced professionals and increase their chances of success.
- Friendly interface: LiteFinance’s trading platform is designed to be intuitive, easy to use, suitable for both new and experienced investors.
Disadvantages
- Spreads can stretch: During times of strong market fluctuations, spreads can stretch, affecting investors’ profits.
- High commission fees: For ECN accounts, commission fees can be higher than some other exchanges.
FAQ related to Liteforex trading
Does Lite Finance have promotions?
Currently, LiteFinance is implementing many attractive promotions, providing investors with opportunities to receive valuable rewards. Special offers you cannot miss:
- 100% commission refund: When you start your investment journey at LiteFinance, you will receive a full refund of commission fees, helping to save significant costs.
- Receive a 100% deposit bonus: For each deposit to your trading account, you have the opportunity to receive a bonus of up to 1000 USD. This is a great opportunity to increase capital and experience trading.
Note:
- Conditions of application: For more details about these promotions as well as conditions of application, please refer to the “Promotions” section on LiteFinance’s official website.
- Time: Promotions take place at a specific time, so register quickly to not miss the opportunity to receive attractive gifts.
What is the difference between LiteFinance real and demo accounts?
When you first started exploring the foreign exchange market, you must have heard of the two concepts “Demo account” and “real account”. So how are these two accounts different?
Demo Account
Demo accounts provide virtual money for you to practice trading without spending any money. This account helps you get familiar with the platform interface, practice your market analysis skills, and test trading strategies without worrying about losing money. However, any profits you gain from the Demo account are virtual and cannot be withdrawn.
Real account
When you open a real account, you need to deposit money into your account to start trading. All transactions are made with real money. If the transaction is successful, you will earn real profits and can withdraw your money. On the contrary, if you lose, you will lose the amount you invested. This type of account is for investors who want to participate in real trading and make profits from the foreign exchange market.
How many LiteFinance accounts can be registered?
According to LiteFinance’s regulations, each customer is only allowed to open a maximum of 10 trading accounts.
What documents are needed to verify Liteforex?
To ensure compliance with anti-money laundering regulations and verify customer identity, LiteForex requires customers to provide the following verification documents:
- Identification documents with photo: Identity card, passport, driver’s license, must be valid, have a clear photo of you and be issued by a competent state agency.
- Address confirmation documents: Electricity, water, gas bills, bank statements, vehicle registration documents (in your name). Documents must clearly show your full name, address and date of issue not older than 3 months.
You need to save copies of documents as image files (*.jpeg, .jpg) or PDF files (.pdf), which cannot exceed 5MB. Images must be clear, not blurry, blurred or obscure any information.
Which account should I use when trading Liteforex?
When you first step into the foreign exchange market, you should choose a Classic account. This type of account is easy to use, suitable for those who are new to Forex trading. Fixed spreads make it easy to calculate trading costs.
How to restore LiteFinance account from archive?
LiteForex has regulations on managing inactive accounts to optimize the system and ensure service quality. Specifically:
- The account is considered inactive: If the account does not make any transactions (deposit or withdraw money, open or close orders) within 3 consecutive months and the account balance is less than 1000 USD, it will be transferred to status. storage status.
- Purpose of archiving: Moving accounts into archived status helps reduce the load on the server system, while ensuring that active accounts receive the best service.
What is the minimum deposit amount at LiteFinance?
The starting deposit level to activate a trading account at LiteForex is set at 50 USD, applicable to all account types.
Can I deposit money into my LiteFinance account without verifying it?
To ensure the safety of investors’ assets and comply with anti-money laundering regulations, LiteForex requires customers to verify their identity and address before depositing funds. This protects your account from unauthorized access.
Conclusion
Through the detailed information about LiteFinance compiled above by SanForex.Co, it can be seen that this is a worthy choice for investors looking for a reputable and professional trading exchange. With outstanding advantages such as a friendly interface, diverse account types and strict account verification process, LiteForex promises to become a reliable companion for traders in the foreign exchange market.