Overview

LiteFinance Broker, established in 2005, is a brokerage firm that specializes in trading various financial instruments, including stocks, commodities, forex, and cryptocurrencies.

Regulations

Cysec, St. Vincent and the Grenadines subsidiary, an unregulated entity.

Pros:

  • User-friendly platform.
  • Wide variety of tradable assets, including stocks, commodities, forex, and cryptocurrencies.
  • Competitive Fees and Spreads.

Cons:

  • Restricted Geographical Availability.
  • Clients have repeatedly reported slow server performance.
  • LiteFinance Brokers have limited research tools compared to larger brokerage firms.

Is LiteFinance safe for traders?

LiteFinance is an ECN broker regulated by CySEC, but it doesn’t serve clients in the European Economic Area and the USA, which may be a concern for those seeking high regulatory assurances. Customers have filed complaints in brokers’ reviews about artificial market manipulations on the platform that could lead to the impression of a Forex scam. Users have also expressed dissatisfaction with the quality of customer support. Litefinance customers report difficulties withdrawing funds, raising concerns about transparency and access to money. Litefinance’s servers often perform sluggishly, hindering trading activities and causing frustration among users.

VYFXB Analysis of LiteFinance:

While Litefinance’s regulatory status may provide some comfort, it is important to note that the platform has some operational deficiencies. These include limited geographical coverage, allegations of market manipulation, questionable customer support, withdrawal difficulties, and server issues. Conduct thorough due diligence before engaging with a platform. Brokers reviews can save you from Forex fraud. Potential clients are advised to carefully consider these factors in their trading priorities and risk tolerance levels.
Best Forex Broker - VYFXB Scale= 2.5/5