LiteFinance (Formerly LifeForex) Review
For 13 years since the introduction of the first cryptocurrency, there have been many more coins in the market and even many more brokers.
A cryptocurrency broker is a middle party between the consumer (the one buying the crypto) and the exchange ( the one selling the coins). These brokers can have no stock and sell on behalf of the exchange or trade crypto on their platforms.
One of the brokers on the market today is LiteFinance. And today, we evaluate if LiteFinace, a trading platform that uses crypto as the trading instrument, is worth your investment or not.
Formerly LiteForex, LiteFinance is a cashback forex trading platform specializing in top-tier liquidity in the stock market, commodity, and currency. You can trade different asset classes like precious metal, blue chops, oils, and cross rates on the platform.
However, today it offers a broad set of cryptocurrency pairs that you can trade. With a profound reputation, ever since it was LiteForex, LiteFinance has developed a closer connection with their clients, thanks to the user-friendly online platform.
On the LiteFinance app, you can strategize to take profits and stop losses. The high-speed trading platform also has an attractive set of built-in tools for better price chart analysis.
Being a platform available in over 15 global languages, LiteFinance has grown to a wide recognition worldwide.
How can you grow with LiteFinance?
When you start your cryptocurrency journey, you hope to land in a place that helps you learn as you progress. Well, that might as well be LiteFinance. With its series of Forex webinars, you can learn a thing or two about how to strategize when making price predictions.
You could be interested in diamond pattern trading or spark token price prediction. It does not matter because you can find all the information you need on LiteFinance.
If you want some books on cryptocurrency and how you can tap into the vast opportunity in the industry, LiteFinance has some insightful forex literature written by professional traders.
How to trade with LiteFinance
As a beginner, you can start at LiteFinance with a demo account. To open the account, you must choose your trading tool. You can select one of the following:
- Currencies, e.g., When you want to trade the Euros to Dollar, or Japanese ¥en to Great Britain Pounds
- Cryptocurrencies, if you will be trading Bitcoin or Ethereum
- Precious metals like diamond or gold
- NYSE, EPA, or NASDAQ shares
Next, you need to register an account. Here, you need to register your country of residence, email or phone number, and a password for your next LiteFinance login.
When you become a professional, you can now open a real account. There are many accounts at your disposal. These include:
ECN Forex Account
ECN Forex is a professional trading account that uses ECN technology ( an electronic communication network that links individuals to liquidity providers). ECN users enjoy a 2.5% per annum interest on their accounts and an unlimited duration of transactions.
You can increase your quoting precision at only a $50 minimum deposit, which means no requotes when making market executions.
Also, your trades go directly to the liquidity providers. So, there is never an instance where you face conflict-of-interest-related problems.
Above all, you can enjoy negative balance protection- this means the platform protects you from losing more than the balance amount in your account.
A Classic account
This is a regular online trading account. It offers better-quoting precision and has no stop or limit levels. You also need a minimum deposit of $50.
The classic account has the Dollar, Euro, and MBT.
Now, is LiteFinance a trustworthy broker?
When you visit LifeFinance.com, you will notice a review column. You can tell that many users have a sufficient level of trust in the platform.
Moreover, the Forex trading platform has been around for over 17 years. Since 2005, it has been offering services in price prediction. Now, the broker capitalizes on its credibility to provide the most accurate USD and crypto coin price predictions to its users.
Pros and Cons of Trading with LiteFinance
When evaluating the platform, the pros outweigh the cons. Some of the advantages of trading with LiteFinance include:
- Multiple funding options- you can wire the money or pay with credit/debit cards. Cryptocurrency, Yandex, QIWI, and Dengi have also accepted forms of funding
- The mobile app offers a comprehensive market analysis for better trading experiences
- It has a multilingual client support team
- It uses meta trading platforms like MT4 and MT5, which offer cutting-edge experiences when trading cryptocurrency.
- Users can automatically withdraw their money from their accounts
Some of the drawbacks of using LiteFinance as your tool for Dogecoin price prediction include:
- You must pay for VPS (Virtual Private Server) if you want to enjoy a seamless and stable connection when trading
- Residents of EEA (European Economic Area) countries, USA, Israel, Russia, and Japan, among other countries
Frequently Asked Questions
What is LiteFinance?
LiteFinance is a distributed ledger technology (blockchain) platform that provides customers with access to a variety of financial goods and services. Users are granted the ability to purchase and sell cryptocurrencies, lend and borrow crypto assets, and get crypto-collateralized loans using the platform.
Additionally, LiteFinance runs an exchange for cryptocurrencies, which enables users to purchase and sell coins denominated in a variety of currencies. Users will also have access to a broad variety of technical analysis tools on the site, which will assist them in making educated trading choices.
How to use the LiteFinance login?
To use the LiteFinance login, go to the LiteFinance website and then click the “Login” option. Enter your login information and click the “Log In” button. After that, you will be able to access your account and trade on the Forex markets.
Is LiteForex a trusted broker?
There is no doubt that LiteForex, which is now known as LiteFinance, is a reliable broker. It is compliant with the Markets in Financial Instruments Directive and is regulated by the Cyprus Securities and Exchange Commission (CySEC) as a Cyprus Investment Firm (CIF) (MiFID). In addition, the Investor Compensation Fund protects the money of all retail customers, provided the customers meet the qualifying requirements.
Is LiteForex regulated?
Yes, LiteForex is compliant with the Markets in Financial Instruments Directive and is regulated by the Cyprus Securities and Exchange Commission (CySEC) as a Cyprus Investment Firm (CIF). LiteForex is a member of the Cyprus Investment Firm Association (MiFID). If they qualify, all retail customers’ money are also protected by the Investor Compensation Fund. However, qualifying requirements must be met.
Who owns LiteForex?
The Lite Group, which consists of a collection of firms that are all registered in the British Virgin Islands, is the owner of LiteForex. Lite Forex Investments Limited, Lite Forex Limited, and Lite Forex Limited are the companies that make up this group. Lite Forex Limited (BVI). The Financial Services Authority of the British Virgin Islands oversees the organization now under discussion.
How long does it take to withdraw from LiteForex?
Processing a withdrawal may take up to two business days from the time it is initiated. After the withdrawal request has been dealt with, the user’s bank account will receive the amounts that were withdrawn. It’s possible that certain payment methods, like local depositors, are able to handle processing withdrawals immediately.
Where is LiteForex located?
The city of Limassol in Cyprus is home to the headquarters of LiteForex, which is currently known as LiteFinance. In addition to these locations, there are other branches of the corporation in Saint Vincent and the Grenadines, as well as in the United Kingdom.
The package you get when trading with LiteFinance is enticing. Once you become a partner, you get an affiliate commission calculator and the chance to participate in the partner’s contest.
These incentives, alongside the mountain of praise that the platform gets, indicate that you can start trading cryptocurrency on LiteFinance anytime.
Now take a look at the LiteFinance disclaimer
The website is owned and operated by LF Global group of companies, which include:
LiteFinance Global LLC is incorporated in St. Vincent & the Grenadines as a Limited Liability Company with registration number 931 LLC 2021. Registered address: First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines. Email:
LiteForex (Europe) Limited is registered as a Cyprus Investment Firm (CIF) with the registration number HE230122 and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 093/08 in accordance with Markets in Financial Instruments Directive (MiFID). All retail clients funds are insured by the Investor Compensation Fund (subject of eligibility). Email:
LiteFinance Global LLC does not provide service to residents of the EEA countries, USA, Israel, Russia, Japan, and some other countries.