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LiteGap Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-27 15:20

Abstract:LiteGap is an unregulated broker registered in China, specializing in forex trading with leverage up to 1:400 via the MT4, MT5 and Web trading platforms. The minimum deposit requirement to open a live account is as high as 250 USD.

  Note: LiteGap's official website - https://litegap.com/ is currently inaccessible normally.

LiteGap Review Summary
Founded/
Registered Country/RegionChina
RegulationNot regulated
Market InstrumentsForex
Demo Account✅
LeverageUp to 1:400
EUR/USD Spread3 pips
Trading PlatformWeb, MT4, MT5
Min Deposit$250
Customer SupportTel: +48722761113
Email: support@litegap.com

  LiteGap is an unregulated broker registered in China, specializing in forex trading with leverage up to 1:400 via the MT4, MT5 and Web trading platforms. The minimum deposit requirement to open a live account is as high as 250 USD.

Pros and Cons

Pros Cons
Demo accountsUnavailable website
MT4/5 platformNot regulated
Limited trading asset classes
Wide spreads
Various fees charged
High minimum deposit
Only support credit card payments

Is LiteGap Legit?

  No, LiteGap is currently an unregulated broker, which means that the safety of clients' funds and trading activities on the LiteGap platform are not protected in any way compared to those brokers that are strictly regulated.

No license

What Can I Trade on LiteGap?

Tradable Instruments Supported
Forex ✔
Commodities ❌
Indices❌
Stocks ❌
Cryptocurrencies❌
Bonds ❌
Options ❌
ETFs❌

Leverage

  A leverage ratio of up to 1:400 is offered by LiteGap, which is much higher than that provided by most brokers. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.

Spread

  As tested on the demo web account of LiteGap, the spread on the benchmark EUR/USD pair was as high as 3 pips, which is much higher than most brokers offer.

Trading Platform

Trading PlatformSupported Available Devices Suitable for
Web platform✔Web/
MT4✔Web, Desktop, MobileBeginners
MT5✔Web, Desktop, MobileExperienced traders
Web platform

Deposit and Withdrawal

  LiteGap accepts credit cards only.

  The minimum initial deposit requirement is $250.

  The broker also charges the withdrawal fee. In particular, the withdrawal fee is subject to a service fee of 3.5%. If 3.5% equals or below an amount of 30, the client will be charged a 30 withdrawal fee and the maximum service fee is said to be capped at 3,500.

Fees

  Apart from the withdrawal fee that we have just discussed, LiteGap also charges some other fees.

  For example, the clearance fee is 0.5% from every trade, both winning and losing, up to $1,000.

  If the trading account is inactive for two months or more, the account becomes dormant and will be charged a dormant fee of $/€/£500.

  Also, the maintenance fee of 0.5% from the monthly account balance will be charged.

Related broker

No Regulation
LiteGap
Company name:LiteGap
Score
1.46
Website:https://litegap.com/
2-5 years | Suspicious Regulatory License | Suspicious biz area | High potential risk
Score
1.46

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