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Review of the fraudulent broker LiteFinance - how the project cheats you out of money, reviews from newcomers
LiteFinance – a cheap imitation of a brokerage company focused on providing services in the field of trading on the Forex market. This project offers users the opportunity to independently trade, copy transactions and make money on financial markets with the help of a reliable broker on a convenient platform and on favorable terms. The main audience is traders seeking efficient and secure trading. Traditionally, the administration’s promises are at odds with reality. This is a cheap kitchen that sucks money out of newbies.
|Year of foundation
|Regulation and jurisdiction
- Large selection of trading platforms
- Complaints from traders about the lack of withdrawal of money
- Illegal activities
- Lies about the real founding date of the project
MetaTrader 4, MetaTrader 5
|Types of accounts
Neteller, Skrill, Visa, MasterCard, Maestro, SWIFT, QiWi, Bitcoin
Up 0.01 pips
Up 0.2 pips
Currency pairs, cryptocurrencies, precious metals, commodities
What is known about the brokerLiteFinance
LightFinance is a company with 18 years of experience in the market, which has established itself among traders around the world. The project website says that it serves more than 1.5 million traders.
Sharaga has 2 divisions:
- LiteFinance Global LLC is registered in Saint Vincent and the Grenadines as a limited liability company;
- Liteforex (Europe) LTD is registered as a Cyprus Investment Firm (CIF) and is regulated by the Cyprus Securities and Exchange Commission (CySEC) in accordance with the Markets in Financial Instruments Directive (MiFID).
In fact, the scam recommends that traders from the Russian Federation open a trading account in an offshore dumpster, which is a violation of the law. The swindlers did not try to obtain a license from the Central Bank of Russia, giving preference to illegal activities. Cooperation with such projects is associated with high risks.
Scammers try to cover up their incompetence in trading matters with fake statistics and fictitious advantages:
- serves more than 1.5 million traders worldwide;
- offers trading on various platforms including MT4/5, LF, cTrader;
- during the last 24 hours, 327,382 transactions were made;
- trading volume over the last 24 hours was $14.31 billion.
- fast execution of transactions (at a speed of 0.01 seconds);
- provides the opportunity to trade more than 170 assets.
All these advantages pale against the background of illegal activitiesLiteFinance official site the project does not contain scanned copies of the declared CySec licenses. The scammers simply lied about regulation in order to attract as many gullible people as possible into their scam.
Terms of trade LiteFinance
The Forex kitchen offers its clients a wide range of services and trading opportunities. The company has developed a diverse range of trading accounts suitable for different categories of traders. Each type corresponds to specific trading preferences and can be opened in just one minute.
Among the available account types, the ECN account deserves special attention, intended for professional and experienced traders, as well as for those who wish to use the social trading service. This account type offers access to deep liquidity with low floating spreads and is based on modern ECN technology, providing access to the best market prices, stable and guaranteed fast execution without re-quotes and without conflicts of interest.
However, this is another manipulation from the outsideLiteFinance Personal Area This broker does not provide the opportunity to trade on the real market. Scammers do not withdraw user orders, preferring to work against their own clients.
FinanceLite provides its clients with the opportunity to trade on the most popular Forex market platforms: cTrader, MetaTrader4 and MetaTrader5. These terminals are known for their reliability, extensive analytical capabilities and ease of use. Additionally, mobile trading apps are available on Android and iOS, allowing traders to stay connected to the market anytime, anywhere.
However, this is not a guarantee of profitable trading, since scammers do not work with liquidity providers, which means they manage quotes for financial assets on their own.
Key trading parameters for trading:
- minimum deposit: $50;
- leverage: up to 1:1000;
- spreads: floating, starting from 0.0 points for ECN accounts and from 1.8 points for classic accounts;
- additional commissions: $0.25 per lot for ECN accounts; There are no commissions for classic accounts;
- Islamic accounts: available;
- social trading: available.
The scam does not offer anything exclusive. Information about opening an ECN account is a lie. Fraudsters do not have access to the real market.
Broker exposed LiteFinance
The broker’s website gives the impression of a reliable and transparent company, offering traders and investors a variety of services and features. However, upon deeper study of information and customer reviews, serious contradictions and signs of fraud are discovered.
First, there is a discrepancy in the company’s founding date. Various resources indicate different years – from 2005 to 2010, while the real founding date is 2022. This raises doubts about the company’s long-term reputation and reliability. Talking about 18 years of experience is empty talk.
The second warning sign is numerous purchased positive reviews and high ratings that do not correspond to real customer reviews. On thematic platforms, deceived traders share their stories about how trading on the platformLitefinance led to a loss of funds. Cases are described when commissions eat up all profits, and trading conditions turn out to be opaque and unprofitable.
The third problem is the technical shortcomings of the platform. Customers report problems with trade execution, loss of communication at critical moments, and unpredictable changes in leverage. These factors lead to unexpected losses and closed deals.
The fourth area of concern is the company’s refusal to pay compensation for losses caused by technical glitches or other problems on the platform. Clients point to the administration’s reluctance to take responsibility and the opacity of its internal rules.
Finally, many customers report difficulty withdrawing funds, which is a classic sign of fraudulent activity. Situations where traders cannot get their investments back increase suspicions of dishonesty Litefinance.
Despite the apparent attractiveness of trading conditions, real customer reviews and analysis of the situation indicate serious risks of cooperation with the broker in question.
Company LiteFinance – This is a typical scammer. Scammers have invested a lot of money in publishing complimentary comments, but in reality this is a SCAM project. Sharaga flatly refuses to withdraw money, constantly coming up with absurd excuses for the lack of cashout. No one has yet managed to make money trading on this platform. Absolutely all clients lost their starting capital. Therefore, traders should stay as far away from scams as possible.
Reviews about the work LiteFinance
Users mainly write criticism about LiteFinance; reviews from traders are devoted to systematic failures in the operation of the trading platform and the lack of withdrawal of funds. When it comes to cashout, scammers begin to come up with various excuses to delay the withdrawal of funds.
G-UNIT_kz, expressed disappointment in the company, especially after communicating with support. Expectations of professional service were not met, and even a standard question about the licensebrought to insults from the manager. This indicates a low level of customer service and potentially inappropriate behavior of company employees.
User artemon34 described his experience as negative due to changes in trading conditions and problems with the platform. He faced technical glitches that led to losses and lengthy disputes with support to cancel losing trades. As a result, due to a change in trend, his deposit was completely lost. This highlights serious shortcomings in the platform and ineffective customer support.
Dend expressed dissatisfaction with high commissions, which, in his opinion, significantly spoil the impression of working with a broker and reduce the desire to continue trading. Despite the positive aspects of the terminal and trade execution, the fees were so high that they became a significant disadvantage.
It was negative reviews that became the foundation for the broker’s reputation problemsLiteFinance review complaints raises the topic of high non-trading risks. Newcomers are afraid that the sharaga will steal their money.
It is too dangerous for beginners to deal with a fake brokerLiteFinance. This kitchen is stealing investors’ money. If the deposit has already been made, then you should contact us for assistance. Chargeback specialists. Our experts will tell you in detail how to recover financial damages by forcibly canceling a transaction.
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