WikiFX report: LITEFOREX OFFICIALLY CHANGES BRAND NAME TO LITEFINANCE

The CySEC-regulated firm said the move is the first step in a broader rebranding of their group of companies. At the first stage, they have changed the companys logo, trademark, and organizational structure. From now on, the official site is located at www.litefinance.com/, and the client space cane be accessed through my.litefinance.com.

The new corporate identity reflects the companys greater focus on a multi-asset offering rather than being a forex-only broker and ‎also completes its ongoing transformation to having a diverse and quite random set of ‎assets.‎

‎Founded in 2005, LiteForex is domiciled in Cyprus where its Liteforex (Europe) Ltd brand is regulated by CySEC. It also maintains an offshore branch in Marshall Islands which is subject to a more flexible, looser regulatory regime.

“Restructuring our company, we aim to get licenses in new jurisdictions and thus develop our services further. Also, we would like to mention that the restructuring process will in no way affect our existing or new clients as the brokers founders and team remain the same. We will continue to provide you high-class services under a new brand name,” the company said in a statement.

Earlier this month, the company informed clients that from November 8, their accounts will be serviced by LiteFinance Global, a limited liability company registered in Saint Vincent and the Grenadines.

At the time, LiteForex didn‘t explain the rationale behind the move, but said it was part of its development strategy aimed at getting licenses in new jurisdictions. However, it confirmed that the restructuring process will in no way affect existing or new clients as the broker’s founders and management team remain the same.

“All the obligations and commitments of LiteForex Investments Limited pass to the LiteFinance Global LLC from 8 November 2021,” it added.