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No Regulation
Score
1.54 /10
Danger
Lite
5-10 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
Add brokers
Comparison
Expose
Exposure
Open Account
Website
Score
Regulatory Index0.00
Business Index7.23
Risk Management Index0.00
Software Index4.00
License Index0.00
Open Account
Website
Licenses
No valid regulatory information, please be aware of the risk
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
open now
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Warning: Low score, please stay away!
Previous Detection :
2024-11-17
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
Note: Lite's official website: https://lite-options.com/ is currently inaccessible normal.
| LiteReview Summary | |
| Founded | / |
| Registered Country/Region | United Kingdom |
| Regulation | Unregulated |
| Market Instruments | Forex, CFDs on Stocks, Commodities, Cryptocurrencies |
| Demo Account | / |
| Leverage | / |
| Spread | / |
| Trading Platform | Web Trader |
| Min Deposit | $250 |
| Customer Support | Phone: +4 474 18328 074 |
Lite, an unregulated broker based in the United Kingdom, offers trading on forex and CFDs on ommodities, stocks, and cryptocurrencies via a web trader. The minimum deposit requirement to open a live account is as high as $250.
Pros & Cons
| Pros | Cons |
| Various trading instruments | Lack of regulation |
| Multiple account types | Unfunctional website |
| Non-transparent trading conditions | |
| High fees | |
| High minimum deposit requirement |
Is Lite Legit?
No. Lite operates without regulation. It is absolutely not a legitimate platform.
What Can I Trade on Lite?
| Trading Asset | Available |
| forex | ✔ |
| CFDs | ✔ |
| commodities | ✔ |
| stocks | ✔ |
| cryptocurrencies | ✔ |
| indices | ❌ |
| bonds | ❌ |
| options | ❌ |
| ETFs | ❌ |
Account Type
Lite offers three types of accounts: Bronze, Silver, and Gold.
| Account Type | Minimum Deposit |
| Bronze | $250 |
| Silver | $1 000 |
| Gold | $3 000 |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| Web Trader | ✔ | Web | / |
| MT4 | ❌ | Desktop, Mobile, Web | Beginners |
| MT5 | ❌ | Desktop, Mobile, Web | Experienced traders |
Deposit and Withdrawal
Lite accepts payments via Visa, MasterCard, and bank wires.
However, there are some significant fees associated with these transactions. For example, deposits made via Visa or MasterCard are subject to a 5% commission. Additionally, the minimum deposit amount via bank wire is relatively high at $5,000, and there is an upfront fee of $50 for all international bank transfers.
In terms of withdrawals, Lite Options imposes a maintenance fee of 20% on withdrawals or inactive funds. This means that if a client has not made at least one trade and generated turnover, they will be charged a significant fee when withdrawing funds.
Additionally, if a client fails to make any trades in a calendar month, they will be charged a $10 account service fee.
| Visa/MasterCard Deposit | 5% commission |
| Bank Wire Deposit | $50 fee for international transfers, minimum deposit of $5,000 |
| Withdrawal/Inactive Funds | 20% maintenance fee |
| Account Service Fee | $10 per month for inactive accounts |
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