Lite Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-14 11:57

Abstract：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.

　　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