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LiteForex Review - Is it scam or safe?

Lite Forex Review & Rating | Lite Forex Broker | liteforex.org trading

RATING: 3 / 53 REVIEWS
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Trading Accounts

 

Account type  Minimum deposit Minimum trade size  Maximum leverage Spreads Trading Platforms Execution Type
Cent $10 0.1 1:1000 from 3 pips  MT4/MT5  Instant
Classic $50 0.01 1:500 from 1.8 pips  MT4/MT5 Market
ECN $50 0.01 1:400 averaged 1.1 pips  MT4  Market
             

Like most forex brokers, LiteForex offers its clients a choice of several basic account types in order to suit the needs of traders of all levels of experience.


In addition, swap-free (Islamic) services are available for all account types, tailored at clients who are not willing to earn interest for religious reasons.


The Company. Security of Funds

 

Company Country Regulation
LiteForex Investments Limited  Marshall Islands N/A
Liteforex (Europe) Ltd.  Cyprus CySEC

 

Founded back in 2005, LiteForex is a broker trading in a wide range of currency pairs, CFDs, as well as Bitcoin, on MetaTrader 4 and MetaTrader 5. There are two companies behind the brand - LiteForex Investments Limited, which is registered offshore, and Liteforex (Europe) Ltd., which is based in Cyprus and licensed by CySEC. LiteForex in fact bought the Cyprot company that used to operate the Mayzus brand.


Having more than 10 years of experience on the forex market and present in Britain's leading financial magazine World Finance «100 World Finance» worldwide list, the only thing that LiteForex missed until recently, was a decent forex broker license. Now that it has it, it is on its way to achieve its goal - ensuring the highest quality of service.

 

CySEC requires licensed companies to hold a minimum of €730 000 in order to prove their financial stability, to keep client funds separately from the company’s operational assets, to regularly report to the Commission.

 

In addition, all customers of authorized financial services firms may receive a compensation, amounting to a maximum of 20,000 EUR, if the broker becomes insolvent or ceases trading.
 


Trading Conditions


Minimum Initial Deposit
The minimal amount required to open an account with LiteForex is $10, which is a reasonably low amount, considering the lack of regulation. What is more, one can access ECN trading environment with just $50.


Average Spreads & Commissions
This broker offers commission-free trading and variable spreads, averaged 1.1 pips on EUR/USD for the ECN account, which is considered average for the FX market.


Real-time spreads of 15 leading brokers can be checked out here


Maximum Leverage
The maximum leverage rates at LiteForex are high, reaching 1:1000. In comparison, SVG-based OctaFX and ForexBroker Inc both offer leverage up to 1:500. More forex brokers offering leverage equal to or exceeding 1:500 can be viewed here.


Traders, however, should be aware of all the risks associated with trading on margin – higher leverage levels may lead to heavy losses, exceeding initial investments. That is why many jurisdictions set limitations on leverage, which are considerably lower, for instance 1:50 in USA and Turkey.


Trading Platform


LiteForex offers its services on two of the most popular platforms among traders - MetaTrader 4 and MetaTrader 5.

 

The MT4 is available as desktop version, mobile apps a web-based version, called MetaTrader 4 Web terminal. This professional, fully-featured software provides traders with everything they need: fast order execution, a variety of technical indicators, linear instruments advanced charting package and the ability to develop and to use Expert Advisors (EA).


More brokers using the MT4 can be viewed here


The MT5 was developed and marketed as an improvement on MT4, yet many brokers still prefer the earlier technology, since MT5 does not allow hedging, and besides, MT4’s indicators and EAs are not supported on the MT5 platform.


You may look up more brokers supporting the MT5 here

 

What is more, LiteForex has recently (as of July, 2016) launched LiteForex Social Trading, a social platform for copy trading. The service is automated and is available for ECN account holders on the MT4 trading platform. The Social Trading offers four different types of copy trading that are fully customizable: full size copying, copying a fixed size of each trade predetermined in lots, copying a predefined percentage of each trade, or copying a fixed share of duplicator’s equity defined by the copy equity/provider’s equity ratio.

 


Bonuses & Rebates 


LiteForex offers various promotions, such as:


- Welcome on deposit bonus of 30% for deposits over $100;
- Spread rebates up to 35% for VIP-club members (applies to Cent & Classic accounts with a minimum deposit of $500);
- Refer a friend bonus of $15 for each attracted friend.


Methods of Payment


Clients of LiteForex are offered a variety of The following payment modes to choose from: credit cards, bank wire transfers, and the following e-wallets: Skrill, Neteller, Perfect Money, WebMoney, QIWI, MonetaRU, EasyPay, Boletto, cashU, etc., as well as cryptocurrencies Bitcoin and LiteCoin.


Conclusion


LiteForex is a reputable offshore broker, offering competitive conditions for trading in various currency pairs, CFDs and Bitcoin on the MT4 and MT5 platforms. Its main disadvantage is lack of regulation. To sum up the above:

 

Pros  Cons
Choice of platforms, MT4 available  High spreads on Cent & Classic accounts

ow initial deposits required

 
CySEC regulated  

 

Forex
Latest news about LiteForex See more...
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Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySec MT4, Web, Gwasy $100 Review Website
Belize IFSC MT4, MT5, Web $1 Review Website
Seychelles FinaCom MT4 $10 Review Website

Spread

Fixed spreads: EUR/USD - 3 | GBP/USD - 4 | USD/CHF - 4 | USD/JPY - 3

Pros

Cons

Fixed spreads

No Commissions 

Wide Spreads

 

Slippage

Pros

Cons

No slippage during normal market conditions

 

Slippage during news releases

 

Requotes

Pros

Cons

No 

Frequent requotes even during normal market conditions 

Price feed

Pros

Cons

No Fractional Pips

 

Slightly lagging quotes

 

Platform

Pros

Cons

Metatrader 4.0

Very intuitive and easy to handle

Decent charts

Autotrading

Custom indicators

Mobile ready 

Trailing stop is server based

No Web Platform

 

 

 

 

Deposit/Withdraw

Deposit

Withdraw

Bank Wire

Paymer

CashU

AlertPay

Liberty Reserve

MoneyBookers

 

Bank Wire

Paymer

CashU

AlertPay

Liberty Reserve

MoneyBookers 

 

Customer service

Pros

Cons

Phone

Live Chat

Request a call

ICQ

E - mail 

No

 

 

 

 

Summary

Pros

Cons

$1 to open account

Fixed spreads

Metatrader 

 

Wide spreads

Lagging quotes

Requotes

No regulation 

Traders` reviews for LiteForex

standard broker

LiteForex has like other brokers have standard spread and standard trading conditions. I have big trading experience all brokers the same if we talk about trading. I choose liteforex because two times i had good deals with good profit and i withdraw my profit in shortest time. i can trust them

Fadoshi 04/15/2017

Perfect

LiteForex is innovative broker with good opportunities for newbies. 2 years ago i started my trading with LiteForex and i stil trade with this broker

Wilson 11/27/2016

Thank you LiteForex

I took part in LiteForex demo contests and took 2 place, i got my prize during two days and withdraw during 24 hours via skrill

Kate 08/14/2016

Good broker

A lose a lot of money with other broker, but trading with liteforex is very profitable they have trading conditions for newbies and professionals

Hasan 06/22/2016

please be carful from liteforex they are scam

please be careful from this company liteforex.com they took my money 10300$ http://www.forexpeacearmy.com/.../liteforex-scam-warning.../

stateh 01/17/2016

Super broker

I trade with this broker and get profit more than 2000$ thank you. I recommend this broker

Hanz 10/16/2015

Affiliate program turned in MLM business

Great job for lite companies, they adopt MLM business and used in affiliate program. With this develpoment, our EARN from affiliate program can be more Higher. Bringing 1 person, we can get $15. How if we can bring 100 person??
Let's join in "Bring a Friends 2.0" program from this broker..

evacute 10/18/2014

Withdrawing using local and money booker is fast

I like so much getting dollar in this broker and its witdrawal service is good. The process of wd is fast. I love this broker.

torisfx 09/17/2014

Liteforex have Free Risk program to help trader.

Guys, let's join in free risk program from liteforex. Our trading will be more safe and we will be covered as much as $250 for the loses trade.

syaiful 09/03/2014

Lite have many brach office in all arround the world!!

It makes me so impressed with this broker, its very famous broker in asia and in arround the world. This broker make good steps with opening many branch office in all the world. It makes more famous and great companies..

syaiful 05/15/2014

Do forexcent join with liteforex??

I've known this news in liteforex web sites. I don't understand about this news. All forexcent clients can continue trade without losing the fund in forexcent,the clients must open new account profile in liteforex in order to be able trade again. lite absolutely make me so impressed..

pipsmaker 04/16/2014

More famous more have many handicap from other

It's very normal if someone get more famous and then they get many problem from other who is not like with. I hope lite broker can resolve all the handicaps on forex business..

agungg 03/29/2014

Great Bonus 100% of deposit only for 1300 users

Let's join in liteforex,nowadays they open new bonus program. it is 100% bonus of each deposit. start from $300.Let's only for 1300 users guys!!

putri_miliarder 03/18/2014

The prove that liteforex is FAIR and Honest broker

It was two or three month ago, liteforex server was going trouble and make all trader order got trouble too. BUT litecompanies give and pay back all the profit order nor loss orde. It is form of the wise,honor, and Fair broker..

arifinox 03/15/2014

Autochartist make our trade more easy.!!

I've try the new innovation from liteforex company, they announced the good indicators for calculating the result market analysis of that times.
Its very usefull, let's try the Autichartist!!

torisfx 02/27/2014

I like their fair..

I've been trading here since 1 years ago.It's make me so impressed because this broker really fair. my problem in this broker always solved and make me satisfied...

imam_sondi 01/09/2014

Lite have already announce the winner of Supermarathon contest

Congratulation for the winner of Supermarathon contest, It's amazing contest.Lite have announced the winner guys..
More detail let's check here:
http://www.liteforex.com/trading/detail/company-news/23126/

pecandu_forex 01/02/2014

Hello...
Do anyone here join Supermarathon Contest???
It's prize $30.000 guys...
And its for 20 winner.
What do you think about this contest?

woelan_forex 12/18/2013

Can't Access Liteforex site from indonesia???

It's very easy guys...
You must change the DNS your "Internet Protocol (TCP/IPv4)" using google DNS. Let's change your DNS with this one. "Preferred DNS=8.8.8.8" and "Alternate DNS=8.8.4.4" Then you must save setting and restart your connection. Then You can Access the site...
Good and have nice trade in this lovely broker..!!

eko_market 12/17/2013

Lite have Official Office in Middle East...!!.

Now, lite tying to improving their exist in the middle east. Lite official website have launched The Arabic version and it's very great improvement from Lite companies..
It's the biggest companies of forex..
Lite very famous broker in the world!!

suarman 12/07/2013

Lite attract the clients through it site

today, i've visited the lite website. in the clients profiles, It's look new and very helpful..
WE can direct login to withdrawal,deposit,or transfer pages.So, it can safe our time and doing other job...
lite's web designers really super professional..!!

davatrader 12/02/2013

Lite compressing old trade history

It's the one sign that lite really have thousand clients from all around the world..

ayuuanita 11/30/2013

Stupid trader??. Don't worry...

i'm really stupid in trade and i can't making money there..
I've learning forex so hard but it's always make me loss there, Then i decide to invest in PAMM account in this broker. I just try for the first. But the result is so WONDERFULL..!!
My money have work for me..!!

yantoforex 11/23/2013

I like scalp the market in NDD account, it's FAST EXECUTION!!

I'm beginner in forex trade and I'm always use scalping strategy in my trade. i like this style because I can got many small pips in just a minutes. Doing this, I just need good and fast execution of trade in a broker.I like Liteforex because of it. it's very FAST execution...

taufikboy 11/19/2013

It's PAMM really amazing!!

I'm newbie in forex and still learning how to trade and making money by my self. Every day, i must spend some times for learning forex. At this moment, I've already invest in PAMM account of this broker. I do not know how its works, but every day i can see the profit from..
It's really amazing gaining and I've choose the best super professinal traders in PAMM...
It's very recommended for you...

prapseven 11/18/2013

PAMM is great recomendation for Investment!!

I think that most of you have lost on forex trading, it is really difficult and need super focus in all sectors. By investing in PAMM, you will got consistent profit more than 150%. In PAMM, there are a lot of Super Professional Trader and have brilliant history of trade. Their gain average is 200-250% per month. It's the best option to make money online..
LET'S JOIN GUYS..!!!

flashgirls 11/17/2013

I like this broker coz they keep and hold their words.

I've been being trader since 2006, and i've join this broker in 4 years ago until now..
I like their services and especially their stable server. so far there are no problem while i trade here, everything is oke and good enough.But, i was impressed with their commitment, when the server going error in some years ago,then they are help me and give back all my loses trade. It's make me fall in love with this broker...

kusuma_rangga 10/22/2013

Lite forex growing fastly than being predicted!!

I've heard from many forums and some traders in my country, lite is new comers broker but they are very fast in developing its self in order to be more famous and best broker in asia. The latest news, lite have already open new official site in Chinese language. It's one of the best development and improvement in any sectors. Lite forex is very most joined brokers by traders in the world..
It's so great broker,,!!

kurnia_boy 10/21/2013

I can gain 30% per month using EA!!

Thanks so much for this luck and for lite especially, because i can gain 30% per month using my lovely EA...
For newbie and stupid in fundamental, just trade using EA and open NDD account. its great....!

nanofx 10/10/2013

Nigerians said that lite partner site is scam!. Lol

I've read some posts on a forums, there was a nigerian and saying that lite is scam because their site change from .com, .org, .asia, and many others.
They are very funny, they do not know that litefx have unique affiliate programs...
The origin lite forex site is using .com
And other using ,org,or.id,net,etc is affiliate site (IB's site)

superhedging 10/05/2013

it's ECN technologies very excellence and fast!!

I've been trying to trade in this broker and for the firs time i'm not sure with its execution. I choose NDD account because it's belong to ecn account. But, after i create the account and trade here, its very different with lite account. NDD more powerful and FAST..
I like it...

torisfx 09/21/2013

it's local withdrawal process is very quick. I've many times withdraw some my fund and it was about 5 hour..

evacute 09/09/2013

tanxs lite forex

I LOVE LITE FOREX :x

yashar 08/26/2013

The Best Choice

I have gone through the reviews and found this is the best site for my trading passion. I was already a good experienced trader and traded from many good brokers but the experience which I got from this broker was very good as compare to other brokers .Their bonus account and on time customer support is very soothing. The maximum spread gave me a very good start.

Esha 06/10/2013

Best opportunity to new comers

The easiest trade accessibility makes liteforex one of the best broker among all. The best PIP and best site speed is quite soothing. I can say it is a very good try for me in trading industry by choosing this as a broker.

Many Carter 06/08/2013

My Turning Point

When I started trading I was seriously new to experiment the real trade challenges. But I first tested its demo account and this was an amazing experience which persevered for the live one. I took a long breath when won. It is very reliable and technically a very good speed site.

riget 06/07/2013

PAMM account service -Liteforex

I first started trading with liteforex and it was a nice experience of trading with its PAMM account feature. Never to pay swap charges with these accounts. So there is no such position correction is required after entire balance operation.

zonekarter 06/06/2013

Nice!

These guys are good broker. I am totally satisfied with their services, especially tech. support.

Cid 12/21/2011

Good broker

Solid choice. Their bonuses are good, their execution is quite fast. I don't have high demands for brokers so that's all I need - and I am satisfied.

Corvax 12/19/2011

Good support

I received good help from LiteForex tech support staff. My problem was solved in half hour, which is incredible. Nicely done, guys.

Jersey 12/19/2011

My lucky star

I guess my lucky star is with that broker. At least this is the only broker I've made profit with. Maybe I have earned experience, I don't know - anyway, they have fast execution and friendly support, so I am glad I am using their services!

Ann 12/16/2011

Very Good

Hello. Sory for such a boring comment, but my opinion is that LiteForex is good and reliable company. I've traded there for quite some time, and I liked it. I can recommend it.

Sergey 12/16/2011

Lite Forex: Excellent execution, speed and so on

excellent execution, speed and so on. great support, very hlpful and competent and easy to reach. withdrawal of profits takes up to 3 days, deposit is instant.

Joseph 06/10/2011

LiteForex: Take part in a new promotion practically every month

Great company. I'm fully satisfied. An excellent broker doing a fantastic job and provide great service. They have lots of bonuses; you can take part in a new promotion practically every month. Very userfriendly website with a number of tools such as economic calendar and so on. The company offers trading indicators from its own ‘trading laboratory’ which is absolutely free for the clients of LiteForex.

biggreenarcher 03/14/2011

Lite Forex offers quick withdrawals and nice cabinet

Started trading with them in 2007 – can say that support is sometimes slow but the platform works very quick and nice. Also very convenient trading cabinet, more features than with other brokers, very comfortable. Did some withdrawals - always went quick.

Pat 08/26/2010

LiteForex is an excellent broker, very friendly customer service

LiteForex is an excellent broker. When I was in trouble I found that the customer service was very friendly and helpful and my problem was fixed very quickly. It’s easy to deal with them. They have variety of billing options. You can deposit fund in real account via electronic payment systems as well as via bank wire and the client can instantly access the account with full fledged forex trading facility. I would rate them outstanding!

AlexP 08/05/2010

Lite Forex - Fast execution and payout

The company is not bad. Fast execution and pyouts, helpful support. I’ve been requoted several times, but most of the time it’s very pleasant to trade with them. I enjoy how they work.

Will 07/22/2010

I've been with Lite Forex for 3 years

Excellent company. I've been with them for 3 years and so far everything was going fine. I'm not a novice and generally I am winning more than losing so for me they are good.

Wanderer 07/16/2010

Terrible broker.
Slow server. Impossible to make profits. Every time requote price even with 20 pips deviation. Very hard to close order too until negative then it will close. Requote, invalid price, time expired and all sorts of messages come out.
My honest advice to all of you. avoid this broker.

Gondol, earnforex.com 10/30/2009

This broker is a joke,
Not only i got problem with depositing fund, i got problem when i requesting for a withdrawal as well,
they gave me so much hussle and takes time, seems like money going in wont coming out from their pocket.
1 star for Lite forex. I stop using it since today.

S Kuhan, earnforex.com 10/30/2009

I have been using this broker for a month now, I have to say I have amost instant balance traansfers in.
Sometimes I have re-quotes which does flag up some broker intervention on my trades but not often.
Someone said they were not profitable, dont know what they meant by that. Was it thier trade not profitable, or the broker. I have to say I have made good profit with them so far - without problems.
I would say this broker is good for me.

Ian, earnforex.com 10/30/2009

I didn't experience any problems with LiteForex. I made a deposit via E-gold and the money appeared immediately in MetaTrader 4. Withdrawals via E-gold are also fast. My two withdrawals of $250 and $300 took less than a day. I use S/L and didn’t see any stop hunting. I believe LiteForex is an honest broker. Just FYI, I don’t trade news and I use expert advisors in MT.

Mandy, forex-learning-site.com 10/30/2009

I've been trading with Liteforex for over a year now and they are fine in overall. I've withdrawed almost 10 times now and every time got my money in few days.
Spreads don't widen and the spreads are ok, they let you deposit/withdraw with e-curriencies and bank wire and the customer service seems to work well... and they let you withdraw every time. They accept every type of trading, even scalping and hedging.
But I would hope they would requote less and the feed is abit better on other brokers.

Michael, earnforex.com 10/30/2009
Forex
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