Liteforex.com Review Is LiteForex Legit Or A Scam Broker

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Liteforex.com Review: Is LiteForex Legit Or A Scam Broker?

After reading some traders reviews, we found out that there are some problems that were reported by traders. Traders that have used LiteForex are giving bad reviews and warn other traders not to use them.

It is important to make sure that you know what other traders are thinking about a broker before you just start using them. And, in this case, the reviews aren’t really positive.

What do regulators say about LiteForex ?

This is the most important thing you need to know about brokers before making any commitments. Is LiteForex regulated ? Is it an offshore regulation ?

Most brokers are unregulated or regulated by an offshore regulation authority which doesn’t mean much because there wont be anyone making sure that they aren’t doing any illegal things. Keep in mind that if a broker steal your money, you won’t be able to fight back unless they are regulated by a serious regulatory agency such as the CySEC (Cyprus Securities and Exchange Commission).

An unregulated broker is clearly not authorized to operate in any country and you should definitely avoid it and never deposit your money into it.

LiteForex is an unregulated offshore broker owned by LiteForex Investments Limited and located at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands.
You should definitely avoid any unregulated broker and LiteForex is one of them.

They can be contacted by phone at this number : 0817071696 or you can send an email to [email protected]

Have you been Scammed by LiteForex ?

Have you been victim of this company ? You have lost a lot of money, and the possibility to make some profit ? This is something that will make anyone furious. However, the good news is that we can help you.

Help is available for you to recover your funds from fraudulent brokers. The only thing that you need to know is where you can get that help. You don’t wants to land in another scam besides the forex trading scam as well.

Chargeback is the solution

This is the good news. When you are making use of chargeback, you will be able to recover your funds from LiteForex. Funds that you thought you have lost forever. Yes, you can report it to the police or even open a case at your lawyer, but this isn’t going to bring your money back in most cases.

Using a chargeback service like MyChargeBack is the only way to get your money back into your account.

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Liteforex.com Review: Is LiteForex Legit Or A Scam Broker?

LiteForex Review: this is the name of a Forex broker that is located in an offshore location. Is Liteforex.com a legit broker or a scam?

The Forex broker claims to offer the largest, most liquid market for trading. Educational materials and demo contests are offered for beginners. Tutorials for learning and improving trading strategies are also made available.

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LiteForex has been trading as far back as 2005 and the trading platforms it offers are encouraging. Its address is:

Ajeltake Road, Ajeltake Island, Majuro, MH96960, Marshall Islands.

It boasts of a large collection of trading instruments in its trading portfolio which we find impressive. Regional offices are in about 7 countries but it is prohibited in quite a number of places including the US and UK.

Trading Platform of LiteForex

It is mentioned that LiteForex trading software is operated on a MetaTrader platform available to all their clients.

Legit brokers are known to offer at least the popular MetaTrader 4 trading platform.

This platform is a very good sign along with MT5, as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders includes: 50+ currency pairs, 50+ CFDs on commodities like Gold, silver, stocks, indexes, oil, and 20+ cryptocurrencies.

Maximum leverages offered to traders can reach 1:1000 and the spreads are different from account to account but 3 pips is found for the Cent account.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal Methods on LiteForex

Methods of making payments and withdrawals are available via: Bank Wire, Visa, MasterCard, Bitcoin, Bitcoin Cash, Local Bank Transfer, Neteller, Yandex Money, Qiwi, Skrill, SticPay, and PerfectMoney. It is encouraging to find this.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

A minimum deposit of $50 is required for starting trade with this broker. Withdrawal fees and charges are not stated for the broker.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is LiteForex Licensed?

Although the broker is in the offshore location of Marshall Islands, the company that owns it is registered and licensed by the CySEC. It is still important that traders know about the offshore base and its risks.

Offshore brokers are not under regulatory bodies. However, issues with this broker has been seen to be quickly rectified as we found on the FPA website.

Support

To contact the customer care representative of this broker, traders can email: [email protected] or dial: +88007072963

Conclusion

The trading conditions look good except for the high spreads discovered on the minimum requirement account. LiteForex offshore location is another point worth considering but the image of the parent company may give some level of assurance. It has a good trading portfolio for clients to choose their preferred trading assets.

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LiteForex Review

Overview

LiteForex appears to be a large international company, successfully operating on the market since 2005.

Details

Broker LiteForex
Website URL liteforex.com
Founded 2005
Headquarters 124 Gladstonos Street, The Hawk Building, 4th Floor, Limassol, Cyprus
Support Number 8-800-707-29-63
Support Types Callback, phone, forum, chat, skype, email
Minimum 1st Deposit 10$
Minimum Trade Amount 1$
Bonus Bonus up to 200%
Leverage 1:500-1:1
Spread from 0,1 point + commision for 1 lot 5$
Free Demo Account Open Demo
Regulated
Regulation CySec (093/08)
Account Types Demo, CENT, CLASSIC, ECN
Deposit Methods Bank transfers, credit cards VISA, MasterCard, QIWI, OKPAY, Skrill, Webmoney, Neteller, CashU, Yandex.Money, EasyPay, Perfect Money, JCB cards, Bitcoin, CardPay, etc.
Withdrawal Methods Bank transfers, credit cards VISA, MasterCard, QIWI, OKPAY, Skrill, Webmoney, Neteller, CashU, Yandex.Money, EasyPay, Perfect Money, JCB cards, Bitcoin, CardPay, etc.
Number of Assets 145
Types of Assets Forex, currency, metals, oil, indices, futures, CFD, crypto currency (Bitcoin, Bitcoin Cash, Dashcoin, Ethereum, Ethereum Classic, LiteCoin, Monero, Ripple, ZCash)
Account Currency USD, EUR, CHF, RUB, GBP, PLN
US Traders Allowed
Mobile Trading
Overall Score 5/10

Full Review

Certainly, you’d like to know whether LiteForex is a scam or it’s worthy company you can fully trust. We’ll answer this question here below.

For 10 years of its existence, LiteForex was able to quickly gain a reputation as a reliable broker. Traders around the world choose this company as it’s not going to stand still. Despite its success, it’s constantly developing, regularly introducing new services, opening its representative offices around the world. One of the most intriguing secrets of its success is that the company’s constantly working on expanding the opportunities of its clients in the foreign exchange market.

The company’s reputation is confirmed by a huge number of clients around the world (about half a million), as well as many prestigious awards (for example, the recognition of the broker as the best in Asia, Africa and Latin America and the fastest growing Forex broker in Asia and Western Europe, the authoritative English edition of World Magazine included the company in the list «World Finance 100»). The company has offices in more than 15 countries throughout the world and the number of its partners representing the broker in up to 216 countries keeps soaring that guarantees the possibility for traders to receive a high level of service in their native language anywhere in the world.

When talking about indisputable advantages of the broker, many traders point to its user-friendliness, innovations, a variety of services, low spreads and fast execution of orders. Traders can access a large list of financial instruments: currency pairs, crypto assets, precious metals, futures, CFDs, indices, oil. The company’s clients can use a stable trading terminal MetaTrader 4 as well as its updated version MetaTrader 5. Besides this, traders can use a convenient web version this terminal – WebTerminal. Another available platform is SocialTrading. That’s a social network of traders with a possibility to use four ways to copy transactions. Being in touch with traders from various countries, you can use the valuable experience of this community to achieve your ambitious goals.

Traders can work with convenient mobile Forex trading applications of the broker’s own development. Having installed such an application, the trader can count on 24-hour free analytics and trading signals. VIP Club customers can use a profitable service Pips Back, enabling them to receive additional bonuses in the form of a refund of the spread from each trade transaction. The official site of the broker contains a huge amount of information: daily relevant analytical articles, newsletters, materials from the independent Claws & Horns portal, articles, video reviews, trade signals, expert opinions of specialists in all popular languages.

Replenishment and withdrawal of funds

LiteForex offers its user a variety of ways to deposit and withdraw funds. Thanks to the system of instant automatic internal transfers between trading accounts, cash flows are conveniently allocated. To replenish your trading account you need to go through a quick registration procedure with the broker, deposit the desired amount, choosing a convenient way of transferring funds (the minimum deposit is $10). To deposit funds you can utilize modern payment systems – from conventional bank cards to electronic payment systems:

  • Credit cards,
  • Bank transfers,
  • Electronic payment systems: QIWI, OKPAY, Skrill, Webmoney, Neteller, CashU, Yandex.Money, EasyPay, Perfect Money, JCB cards, Payonline, EgoPay, Alfa-Click, TeleMoney, Bitcoin, CardPay, etc.

All requests for withdrawal are handled by the broker for no more than 4 working hours. If you’re going to withdraw no more than $100, your request will be processed automatically. It undoubtedly speeds up the withdrawal procedure and ensures instant receipt of funds. The broker doesn’t charge commissions for replenishment and withdrawal of funds. Moreover, the company reimburses the commission paid by the user to the payment system when replenishing the account.

Complaints about LiteForex

The Internet offers a lot of different reviews about the broker, but the positive ones definitely dominate, and in many respects it proves the correctly chosen niche of development as well as reputation of the company. Most traders recommend trading with LiteForex, noting such advantages as the stable operation of the terminal (without freezes), favorable trading conditions, fast withdrawal of funds, low spreads, the availability of contests and bonuses, excellent market forecasts, high quality webinars, serious analytical materials on the site, professional assistance of competent experts of the technical support, convenience of work for scalpers and beginners.

Negative moments are very few. Sometimes traders mention rudeness of consultants, rare problems with the auto-withdrawal of funds and failures of the trading terminal. In general, LiteForex is quite successful in the foreign exchange market, so we can suggest it has the most serious intentions. Innovative services, a high quality terminal, a lot of competitions, professional analysts – all of this makes trading on the platform stable and efficient.

If we find complaints about LiteForex, we will post it on social media. Follow us to be well informed:

Is LiteForex a scam?

Today LiteForex is one of the most successful and dynamically developing companies. The broker has been working all over the world for over 10 years, providing qualitative services and profitable trading conditions. In many respects, the company’s success is confirmed by a large number of positive responses (many traders really recommend LiteForex). Certainly, it helps to increase the overall level of confidence in the company.

Another positive factor is the provision of cutting-edge trading terminals Metatrader 4 and Metatrader 5, a mobile application of its own design as well as unique functions and capabilities, which make trading on the platform much more productive. The very willingness to invest money and time in the further development of services and solutions clearly indicates that the company has serious plans to grasp leadership positions.

Besides this, traders appreciate the broker’s highly informative website. It contains materials about the company, trading options, terminals, bonuses, analytics as well as training information. In many respects it demonstrates a thoughtful policy of working with the users, which is not typical to scams. LiteForex turns out to be a licensed broker and it has a positive effect on the attitude towards it from traders. Verification is required to trade on the platform, and it also shows the whole seriousness of the company’s intentions.

Should we label this company as a scam? We would answer unequivocally – no! More than 10 years of successful work with traders around the world, favorable terms of trade, recommendations from grateful users prove our point of view. If you don’t want to have any problems with the broker, work with your personal manager in the proper way. You need to specify all the necessary information about the rules for using bonuses and the procedure for withdrawing funds.

Regulation of the broker

LiteForex is registered in the Marshall Islands, so it’s subject the legislation of this country (Marshall Islands Business Corporation Act, license number 63888). Additionally, the company has a license CySEC (093/08), MiFID, which guarantees the reliability and security of trading. All the clients’ funds are insured in the Compensation Fund of Investors.

Bonuses from LiteForex

Each trader of the company can receive 2 types of bonuses:

1) The welcome 30% bonus

Traders can count on the welcome bonus for deposit replenishment over $100 within 24 hours after account opening. In order to activate the bonus, you should enter the promotional code in the special field when you replenish your trading account. We recommend you to specify the terms and conditions of the bonus with the personal manager.

2) The 200% go bonus

For every deposit over $100 a trader can obtain a bonus of 200%. You can have this bonus withdrawn as soon as the conditions of the bonus promotion are fulfilled. We recommend you to specify the terms and conditions of the bonus with the personal manager.

Conclusion

The Forex-broker LiteForex has been successfully providing its services to traders around the world for more than 10 years. Offering high quality services and innovative capabilities, the company is gaining trust from its users. It doesn’t stand still, it’s constantly developing. The company receives prestigious awards, extends the number of reviews and increases the number of financial tools. It’s one of the most dynamic Forex brokers on the market. The presence of regulation, a highly informative official website, a large number of positive reviews about it – all of this gives a solid reason to trust this broker.

It’s worth noting that LiteForex has been ensuring stability and reliability of Forex trading (truth about Forex) for many years. That’s why today we aren’t going to label it as a scam. The traders’ responses we are waiting for this article will change the rating of the broker and also warn market players against possible problems.

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