US traders Interest rate on funds Bonus offers Trading contests PAMM accounts LAMM accounts Affiliate program Islamic accounts available| 5.3/10 (19 qualified reviews) | |
|---|---|
| Company | LiteForex Group of Companies, Inc. |
| Founded and online since | 2005 |
| Offices in | Indonesia Malaysia Russian Federation |
| Payment options | Show payment optionsHide |
| Demo platforms |
|
| Account currencies | Euro Russian rouble Swiss franc United States dollar |
| Currency pairs | Show currency pairsHide |
| Regulated by | RAFMM |
| Website available in | Show website languagesHide |
| Support available in | Show support languagesHide |
| Support methods | Callback Forum Live chat Phone |
| Trading server time zone | GMT+3 |
| VPS for traders | $20/month |
| Rebates per 1 std. lot | $15 |
| Minimum account size | $50 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Minimum position size | 0.001 lot | ||||||||||
| Spread type | Fixed | ||||||||||
| Spread on EUR/USD, pips | 3 | ||||||||||
| Trading instruments |
|
||||||||||
| Trading platforms | MetaTrader 4 |
||||||||||
| Digits after the dot in quotes | 5 | ||||||||||
| Margin call level | 50% | ||||||||||
| Stop-out level | 20% | ||||||||||
| Minimum distance to stop/limit orders, pips | 3 | ||||||||||
| Number of currency pairs (of which exotic) | 31 (10) |
Hedging Overnight interest rates (swaps) Trailing stop Pending orders One-click trading Mobile trading Automated tradingOpen demo account with LiteForex.
Open real account with LiteForex.
View contract specifications.
65 reviews of LiteForex are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
hi. i'm trading with this broker. they don't have any problem. they have good customer service.
they have many menthods deposit. its good
i like this broker.
Hmm....,someones here trying to hate the others. it means that he/she which doing that is come from another broker and indicating its broker absolutely not fair broker.Perhaps, their broker is going to bankrupt, so they just make nonsense and untrustable reviews in some forum without PROVE and unresponsibility.
Sorry, I don't defend liteforex. i defend my self. I just saying on fact and not hoax..
I've join in many broker. include fbs,nordfx,litefx,insta,fxpro, etc. In lite, i never lost my money, i always got huge pips in a days using EA. many times of my profits withdrawal succesfully (average in $500/withdrawal).
Now, using "auto-withdrawal" making my payments process more quick and interesting...
I can say this because of experience and fact..
Thanks so much for LiteFX...
so far, you have give me good Service and Lucky ....
Succes for You......
i have trade with Liteforex for 3 years. i ever have big problem with Liteforex.
customer service is very good. when i have a question they was answer very fast..
i had a big profit when i trade with this broker. i like best the Liteforex in they have EURLFX, USDLFX... no others broker have. it's good for trade.
hello
i open 3 accounts with lite forex first 1 i deposit 700 $ and i lost the money and am sore they was very happy the second one i deposit 500 $ and lost it too, the third one i deposit 700 $ then i start making some profit then i withdrawal 700 $ and trade again and make make profit again and when i ask for another withdrawal the cancel all my balance 1781$ and sent me this email:
(Hello.
The Security Department of LiteForex has completed the checking on your accounts. Due to the result of the revision by the security and risk management departments of the Liteforex Group of Companies there were found significant violations of the Reglament of the Company, on your account 882085 were found fraudulent transactions to get the illegal profit in bonus program. Illegal profit was cancelled.
Best regards,
LiteForex Anti-money laundering department. )
i have my orders history and am sure that they cant prove any thing of what they saying
Please check this out.
http://1.bp.blogspot.com/-dCsUsMuq7wA/UG1WECd8rcI/AAAAAAAAAAQ/ZA0lCIUk9zM/s1600/liteforex_scam.png
This one sucks.
Liteforex is the most unreliable and scam broker i have ever used. For the past 2years i haved used them,i have not used made any tangible withdrawal. I see manipulated prices,i try to scalp but spread kills it. In general,stay away from them and don't risk ur money for a goner.
JandG, Dude, until LiteForex people don't see your account number, they can not help and can't see that you are telling the truth. I guess it's better to tell account number at least or to contact them directly. Or may be you just wanna troll?
I requested a withdraw on 4th Apr...but today they still told me I need to wait, my withdraw is in the queue because they need extra security check. They keep telling me it will be processed as soon as possible, but as you see, it has been 40 days ... and they don't tell me how long I still need to wait. So disappointed.
Hello traders.
Since I worked with LiteForex not a short time, I want to write my own review. The company is stable and in the market for a long time. Particular problems with trading did not arise, and those which were Support solved very quickly. With withdrawals sometimes there are delays, but I get my money in time. It suits me. And also I'm happy to use their bonuses. I do not know about the contests because I never participated. Good luck and profits!
Hi Sergie,
Well this is for the benefit of everyone here who has been facing problems with LiteForex.
To give details about myself. I am a PAMM Account Manager and I have a PAMM Account with LiteForex, however, it is not listed in the PAMM Monitoring list as yet since I have not funded my PAMM account the required minimum Manager's deposit.
I'll explain why I have not yet deposited the required Manager's Capital even after 23 days of opening a PAMM Account as a Manager.
Before one invests their money with any broker, it is important to do your due diligence and find out about the company and its legitimacy, I do that. And I wanted to do that for LiteForex as well.
I asked them which regulatory body are they registered with, to which I got the below mentioned answer;
"LiteForex is regulated by Seychelles International Business Authority; the company is registered under the ref. number 036925. The registered agent of LiteForex on Seychelles is Intershore Consult (Proprietary) Limited. The legal address of the company is: 306 Victoria House, Victoria, Mahe, Seychelles."
Now make a note everybody, it is Intershore Consult, the agent for LiteForex which is registered with SIBA, which I have crossed verified by visiting the official site of SIBA (www.siba.net)
LiteForex itself is not registered with SIBA, but yet they claim to be registered with SIBA, which is false information.
When I asked for a clarification on the same, this is what I was told;
"Unfortunately don't provide details which you asked"
And when I asked them why, I was told;
"Unfortunately We don't provide more information about this question."
The agent I was chatting with is Sergey Porturay.
I kept asking, repeatedly to provide me with a telephone number or an email address where I can reach LiteForex with these questions and I can expect an answer from, and guess what;
"Sorry, I don't know who can help you" is the response I got.
And when I kept insisting, continuously, this is what Sergey tells me;
"Anyway you can send request to our partnership dept, maybe they can tell more e-mail: partner@liteforex.com"
A company that is not willing to provide clear details about their registration with a regulatory body, is seriously not worth trusting your money with. I don't know why are they so shy in sharing these details, or maybe they are lying, making false claims of being a registered and regulated forex broker which they clearly aren't.
Let me share another experience that I had with Ekaterina Orekhova and Akarsh Dhaiya, Manager, Asia Pacific for LiteForex.
When I asked Ekaterina if I can remit funds via wire transfer from a bank account in India, she told me;
"Unfortunately, you cannot use this method of payment. But you can use other electronical systems. For example, Liberty Reserve. Concerning method of payment from India, please, contact our representatives in India."
And she got me connected to Akarsh Dhaiya.
This guy, Akarsh, who is supposed to be the Manager of the Asia Pacific region, should have clarified that remittance, both inward and outward via wire transfer is possible from India. I mean one would expect a manager to have that much knowledge at the least, but instead of clarifying this, he suggested using Liberty Reserve.
Now since he did not clarify this and suggested Liberty Reserve, anyone would assume that what Ekaterina said was correct. But that was not the case.
The very next day, I again went on their chat support and spoke to Alexander Bakhtinov and asked him the same question to which I got the below answer;
"Yes, you can. Bank wire transfers are available as well. To select this method of funding you should confirm your personal data by uploading appropriate documents and then click at the option “Deposit” – “Bank Wire Transfers”."
I still thought of giving it one more try and I shot an email to their customer support team at "clients@liteforex.com". This was on the 26th of April 2012 and I still haven't heard from them.
Now, how can someone trust a forex broker who has so many discrepancies and the worst, refuses to share and disclose its registration details with SIBA, which it claims to be registered with.
@Sergie Shuvalov -
Hi Sergie, don't take this personally, but your last response, accusing someone as a cheat, well you may be correct but the way you have responded certainly shows the amount of professionalism you carry. You are a representative of LiteForex on this public forum. And the attitude that you have displayed seems to be of a school bully. "Yeah right, come on I am ready to fight you, lets see if you can beat me"
I mean come on, is this how LiteForex is? Should we expect this kind of "professional" support from your company?
Anyways, to the questions and concerns that I have raised, do you have any concrete answers to them?
I would really like to hear from your side.
Regards,
Arif
Hello Mashiur Rahman,
I am Sergei Shuvalov, a representative of LiteForex. Let me explain something to you.
You faced problems with execution because we found you to be a cheater who tried to deceive our company. Well, you need to learn that cheating is not a good thing. Let it be a good lesson for you and your friends.
Concerning the delay with the withdrawal of your own money – the explanation is the same – you and your friends were suspected of cheating. That’s why the withdrawal time increased; we needed to check you more carefully (“Transfer of funds can be extended by Company for the period up to 14 working days…”). Btw, your money has already been withdrawn.
Concerning your threats to take some actions against us at FPA. Be warned that we have a good experience of dealing with cheaters who tried to put pressure on us at FPA. Go ahead, and you’ll learn that it’s not a good idea to call a reputable broker a “sucking company” and a “nightmare”. We have won a lot of cases against cheaters there. So, see you at FPA.
This is one kind of sucking company. I have a nightmare experience with them. First one of my account I can't even open a trade. I have contacted with them and send my logs file but there was no reply. It has been in this condition like for 5 or 6 weeks.
In another account I have withdrawn my money (neither bonus nor profit earned from bonus pure my invested money ) on 20-04-2012 via Liberty Reserve. But till now it has not received yet. And there customer service is just like their terminal like turtle slowwwww. And they gave me parrot like answer please wait.. we are sorry for incon... bla bla. If you promise to give max 3 working days then why my money is not received in 5 working days. This is one kind of cheating with customers, isn't it? I will wait another 2 or three working days and then I will make a complaint in FPA. Guys if you want good service then it the last choice.
I am trading with my EA and everything is smooth. Execution speed and withdrawal speed are okay.
After some time of being with LiteForex I can say that I like the company. BUT!
They MUST improve the time of of profit withdrawal. Why should I wait for 5 days when they approve the money transaction? (The deposit is instant btw). But overall I do love the broker.
To submit your own Forex Broker review for LiteForex fill the form below. Your review will be checked by a moderator and published on this page.
By submitting a Forex Broker review to EarnForex.com you confirm that you grant us rights to publish and change this review at no cost and without any warranties. Make sure that you are entering a valid email address. A confirmation link will be sent to this email. Reviews posted from a disposable e-mail address (e.g. example@mailinator.com) will not be published. Please submit your normal e-mail address that can be used to contact you.
Please, try to avoid profanity and foul language in the text of your review, or it will be declined from publishing.
Attention! This is NOT a Broker's contact form. You CANNOT contact LiteForex via it. The form below can only be used to post a review of this Broker.
For me, LiteForex is good broker. It's service till now also good. I am from Indonesia, and every time I got about ask something about LiteForex, then I go to it's CS LF Indonesia, and their service is good service to me. the open position, close position is fast. also wd handle by profesional action. so, thank you for LiteForex for their good service for me.