LiteFinance, formerly LiteForex, is a forex broker founded in 2005 in Cyprus. Lite Finance (ex. Lite Forex) offers platforms available in MetaTrader 4 (MT4), MetaTrader 5 (MT5) and LiteFinance proprietary mobile apps. Over the past fifteen years, LiteFinance (ex LiteForex) has expanded its range of services and added assets, as well as offering a variety of attractive trader bonuses.
The LiteForex’s cent account was actually the first to offer a minimum deposit of just $1, enabling low-budget traders to have access to the real market. It also made the world’s most liquid financial market accessible to countless traders from emerging markets with deposits of less than $100.
LiteFinance.org (ex. LiteForex.com and LiteFinance.com) offers over 250 financial instruments on markets such as:
Forex currency pairs,
Apart from the forex demo account, this broker offers Classic, ECN, ECN (EU) and Classic (EU). To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by LiteFinance is up to 1: 500. Meanwhile, you can open an account with a starting capital of $50.
There are 4 main accounts available at LiteFinance:
Classic: Classic traders have to deposit a minimum of $50 with trading volume from 0.01 lots in return for variable spreads. Advanced traders may benefit from this account which provides scalping capability, Expert Advisors, trailing stop, pending orders, one-click trading, mobile trading, and automated trading.
ECN: Traders are able to deposit a minimum of $50 with a minimum trade volume of 0.01 lots. Spreads are variable while supporting scalping technique, trailing stop, pending orders, one-click trading, mobile trading, and automated trading.
ECN (EU): The minimum deposit is $50 and the minimum trade volume is 0.01 lots. Clients can enjoy variable spreads from 0.0, advanced tools like trailing stop, pending orders, one-click trading, mobile trading, and automated trading.
Classic (EU): Besides offering variable spreads, Classic EU also supports hedging, trailing stop, pending orders, one-click trading, mobile trading, and automated trading. The minimum deposit for this account is $50 with order volumes from 0.01 lots.
LiteFinance offers ECN spreads as low as 0.0 pips on EURUSD for a commission of $10.00 per lot. It may increase to $30.00 per lot, depending on the currency pair. Commodity CFDs cost between $0.50 and $20.00, cryptocurrencies $0.50, and equity CFDs $0.25 per share. The commission-free Classic account shows elevated floating spreads from 1.8 pips.
Other fees to be aware of include swap rates on overnight and corporate actions like dividends, splits, and mergers that impact equity and index CFDs. The client agreement notes no inactivity fees, which most brokers do charge, and LiteFinance waives all deposit and withdrawal fees. Traders can also see a library of the broker’s past spreads.