124 reviews of LiteForex are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
I requested a withdrawal on February 17th and still hasn't been processed. When I contact their customer support all they keep saying is to be patient and that they have to check. Their finance department is horrible.
I am using several LiteForex app on me smartphone. It’s good instruments for traders. In nowadays most part of people are using smartphones. An i like that i can trade on forex market everywhere and anytime. Trading is stable. I made 2 withdrawals during last month and got it.
Trade with this broker is satisfied, good conditions. It is a pity that now there are fewer demo contests. I loved taking part in them. Now there is only one demo contest. It is held 1 time per month. It would be better if there were contests that are held once a week as well. In this way we need not wait 1 month.
Lite Forex (Worst Forex Broker)
Dear all, Please be informed that I have an Islamic account (Swap free) and commissionable in lite forex since 29 Jan 2019. I have a total deposited to my account USD 750 and I made the profit and the first week of April my balance is USD 1238.58. On 8th April when I requested to withdraw the full amount of my money, they deducted USD 517.23 as swap charge but my account was swap free. They did not charge swap amount when I closed my trade but they did charge USD 517.23 after withdrawal. Even they did not inform me that they will charge swap after withdrawal and I lost USD 517.23.
So please stay away from lite forex to save your money.
I am testing LiteForex and first of all i would like to have more payment systems for deposit and withdrawal. Speaking about positive sides I would like to say that trading process is comfortable and withdrawal is fast. Their services good more than enough, I was prepared for the worst but was surprised. I hope that their service and platform will be better in future or at the same level as now.
I started my trading with this broker because they have good reputation. I hope that this review will help them to believe that they on a good way. I like their service and I made sure that they have all necessary for traders and investors. Soon I would like to realize my investing strategy by using their social trading platform.
LiteForex is an good broker, one of the few good on the market. I've traded on classic accounts so far but I already like the broker and its services. It really allows to learn how to get profit. But there have been several delays of withdrawal 4 days with amount more than 8000$, i got my money and still trading with this broker.
Warning! Liteforex it's a big Scam
I am a trader in Forex since 2011 and during this time i have worked with 22 to 23 brokers.
when I was a beginner I was losting my money very much and I started to participate in courses and using viedo tutorals in internet.
So long as you make losses in a broker you are a good client and they contact you very much and you receive lots of ad letters and the encourage you that you should deposit again.
Definitely when you start to make profit in market and you are well exprienced at that time your dificulties with broker start. I was not excluded from this rule.
I started to make profit in Forex in recent years and then the deficulties with LiteForex has been started.
I decided to withdraw my profit which amounted to 1500$ at 26.01.2018 but my order was pending (not processed) till 01.02.2018 while according to the agreement this company should do the withdrawal requests within 3 days.
5.1.3. Funds withdrawal is carried out within the period set individually for each payment system, from 1 to 3 working days.
It is inserted on the website that Margin Call 100% & Stop Out 20% and margin call is described in the description part the same.
Margin Call - a message from a dealing centre to a trader saying that it is necessary to increase funds on marginal account.
Any time your margin reach below 100%, the broker warn you to deposit your account or make it zero.
I wrok with this company for several years and always I received warning emails when the Margin is under 100% and always my open positions are closed when Margin in under 20% (available on atached photoes) and this time nothig happened.
This broker extended spread on indices 9 times and closed my two open positions (-720.2$-724.41$) on 02.02.2018 without any prior notice while I was sitting behind my pc and my Margin was very higher than 100%.
I talked with broker via its online chat and I ask them why did this happened? They said you should send an email to firstname.lastname@example.org te receive reply. But they did not reply me and I sent several emails for them. Finally they replied and they said that the Company has the right to close the client's open position when Margin level is 100%.
I showed to them via online chat and email that have right to close open position when the Margin level is under 20% and I will complain against you.
Then they reply me and they said that they will return the loses related to these positions. I was sure that they will return the loses to my account and I can manage my account again.
But they have not done that till this moment.
I started my trader's way three months ago. Choosing between the 5 brokers I have opened accounts from two. One of these brokers is LiteForex. Trading conditions are good and everything works quickly. Also I like fast technical support. Since I'm a beginner I often write my own silly questions and always get a quick reply .
Worst company to deal with during my investment career.
I got lured in to try their services due to the massive offer of bonus - should have known.
The positive gain I made on the overall account got reduced when I tried to withdraw money.
Gain on the accounts were reduced by the portion of the bonus provided originally.
Upon first withdrawal request, I got the withdrawal approved, then a week later finance rejected, an cancelled interest rate I was given on the amount kept on the account.
Finally got all possible reduction of funds described in T&C, asked for full withdrawal, and after 8 days, still nothing happened. Customer service is pointing at finance department...
I wonder how it is legal to treat requests in this way.
Only now I realized there is no regulatory arm. I hope I will get at least the original deposited funds back - forget the gains made or the interest I lost parking it on their account
I use the pips back from liteforex, but it is one minus , it is difficult to understand how the calculations are made, and I would like a more understandable scheme of commission calculations and refund of commission
I’ve been trading with this broker for a long time and I don’t have any problem with it. I think the technical overlays happen to all who works in this niche. Spreads on ECN accounts are almost zero, I’m happy, they have all the conditions for scalping.
This is my third broker. I can say that each broker has positive and negative sides. Liteforex has fast order execution and fast withdrawal but i do not like interface of clients profile on liteforex site. I remember old interface and old interface wa more better for understanding.
LiteForex is my first broker, i started my trading by reading tutorial on their site. If you are newbie you can start to trade on cent account, and after a lot of days of practice you can transfer your trading to ECN account and continue. withdrawals usually take 3-4 days, my last withdral took 3 days.
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