LiteFinance-Some important Details about This Broker

General Information

Founded in 2005, LiteFinanc is allegedly an online forex and ECN broker based in Saint Vincent and the Grenadines that provides its clients with the worlds most well-known MetaTrader4 and MetaTrader5 trading platforms, flexible leverage up to 1:1000, low spreads on a variety of tradable assets, as well as a choice of two different account types and 24/5 customer support service.

Market Instruments

LiteFinance advertises that it offers an extensive range of trading instruments in financial markets, including forex currency pairs, metals, oil, global stock indexes, CFDs and cryptocurrencies

Account Types

There are two live trading accounts offered by LiteFinance, apart from demo accounts, namely ECN and Classic. Opening any type of account requires the minimum initial deposit amount of $50.

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. Clients on the ECN account can experience a leverage as high as 1:500, while the Classic account can enjoy the maximum leverage of up to 1:1000. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Spreads are influenced by what type of accounts traders are holding. LiteFinance reveals that the spread on the ECN account is floating from 0.0 points, while the clients on the Classic account can enjoy from 1.8 points. To be more specific, the spread for EUR/USD pair is from 1.0 points, the spread for AUD/USD pair is from 0.2 points, while the spread for the GBP/USD, USD/JPY and EUR/JPY pairs are from 0.1 points. As for commissions, the ECN account will be charged a commission of 5$ per lot while the Classic account about which no specific information involved.

Trading Platform Available

When it comes to trading platforms available,LiteFinance gives traders the worlds most widely-used MetaTrader4 and MetaTrader5 platforms, available for Desktop, the Web and mobile versions. MT4 and MT5 are known as the most successful, efficient, and competent forex trading software. While with MT4 and MT5 mobile apps, trading can be done from anywhere and at any time through the right mobile terminals.

Deposit & Withdrawal

LiteFinanc accepts a wide selection of payment options including credit/debit cards (Visa, MasterCard), Bank Wire Transfers, Electronic transfers (PerfectMoney, Boleto Bancario, M-Pesa Kenya, M-Pesa Tanzania, Africa Moblie Money, WebMoney, AliPay) and cryptocurrencies (Bitcoin (BCH), Bitcoin, Ethereum (ETH), Litecoin, Monero (XMR), Ripple). The minimum deposit requirement is $1 for the local deposit, M-Pesa Kenya and M-Pesa Tanzania, $50 for Ripple, $100 for depositing by Bank Wire and $10 for the left payment methods. Withdrawal with M-Pesa Kenya will be charged a commission of 0%+100KES, M-Pesa Tanzania with a 0%+2000TZS commission, Africa Moblie Money with 4.5% GHS, while the left payment methods with 0% commission. In addition, the broker allows its clients to use up to 5 automatic withdrawals worth a total of $5000 within 24 hours.

Customer Support

LiteFinances customer support can be reached through telephone: +88007072963, email: clients@litefinance.com, Skype: liteforex. support or live chat. Besides, you can also follow this broker on some social media platforms like Facebook, Twitter, Instagram, Telegram, LinkedIn and YouTube. Company Registered Address: First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.