What We Tested
- Account type: Classic Account ($200 starting balance for test)
- Platform: MT4 Desktop
- Trading period: 4 months, 60 trades executed
- Pairs tested: EURUSD, XAUUSD
- Withdrawal tests: 2 successful (WebMoney, Skrill)
- Support tests: 4 inquiries via live chat
Testing focused on verifying the spread consistency on the Classic Account and assessing the reliability of the proprietary Copy Trading platform.
Regulation & Safety
LiteFinance uses a hybrid regulatory structure, relying primarily on offshore entities for global operations:
- CySEC (Cyprus) – Legacy/Limited EU license. Most global clients trade under offshore entity.
- SVG FSA (St. Vincent & Grenadines) – Primary entity for international clients. Tier-4 offshore regulation (no oversight).
Spreads & Execution
| Pair/Asset | Classic Avg Spread | ECN Avg Spread | Commission (ECN) |
|---|---|---|---|
| EUR/USD | 1.7 pips | 0.4 pips | $10.00/lot RT |
| GBP/USD | 2.2 pips | 0.8 pips | $10.00/lot RT |
| XAU/USD (Gold) | 35 pips | 15 pips | Varies |
Spreads are wide on the Classic Account (commission-free). ECN Account commission ($10 RT) is well above the industry average ($4-$7 RT).
Execution Model and Quality
- Execution Model: Market Maker (Hybrid/Dealing Desk)
- Fill Reliability: Inconsistent. Slippage observed during volatility.
- Slippage: Higher than average, especially on Cent Accounts.
Execution is inconsistent and prone to unfavorable slippage during news events, which is detrimental to scalping strategies.
Execution Inconsistency (Slippage Risk)
Our testing revealed significant inconsistency in execution, especially during market volatility:
- Unfavorable Slippage: Orders often slipped against the trader on the Classic (commission-free) account.
- Cent Account Issues: Execution reliability was particularly poor on Cent Accounts, making micro-trading difficult.
Inconsistent execution directly impacts automated and scalping strategies, suggesting liquidity is insufficient or dealing desk is involved.
Account Types & Fees
Classic Account
- Min deposit: $50
- Spreads: From 1.7 pips
- Commission: $0
- Best for: General traders, commission-free preference.
ECN Account
- Min deposit: $50
- Spreads: From 0.0 pips
- Commission: $10.00/lot RT (Very High)
- Best for: ECN traders (despite high commission).
Other Fees
- Deposit fees: $0 (all methods)
- Withdrawal fees: Yes (Varies; average 1-3% fee on e-wallets/crypto).
- Inactivity fee: $10/month after 90 days of inactivity.
- Swap rates: Standard overnight financing applies; Islamic accounts available.
Deposits & Withdrawals (Tested)
Funding supports numerous methods, but withdrawal fees are a major drawback:
| Method | Amount | Processing Time | Fees | Notes |
|---|---|---|---|---|
| Credit Card/Debit Card | $200 | 1 business day | Varies | Fees often apply to card withdrawals. |
| Bank Wire | $500 | 3-5 business days | Varies | External fees apply. |
| Skrill/Neteller/WebMoney | $100 | Same day (4 hours) | Yes (1%-3%) | Fees commonly applied. |
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Disclaimer: The information provided in our rankings is based on real-money testing and verified logs. This is not financial advice. Automated trading involves significant risk of capital loss. Always trade responsibly.
Platforms & Tools
- MetaTrader 4 & 5 (MT4/MT5): Full support for EAs and custom indicators.
- Proprietary App: Mobile and web platform with integrated Copy Trading functionality.
- Copy Trading: Integrated platform for social investing.
Our Take: Platform support is acceptable, balancing MT4/MT5 with proprietary social trading.
Customer Support (Tested)
LiteFinance offers multilingual 24/5 support:
- Live Chat: 24/5, responsiveness is slow/average.
- Quality: Customer service lacks technical depth and can be difficult to contact during peak times.
Support is functional but not professional-grade, reflecting the weak regulatory environment.
PROS
- Long operational history (since 2005).
- Low minimum deposit ($50).
- Good platform variety including MT4/MT5 and Copy Trading.
CONS
- Primary regulation is Tier-4 (SVG FSA) — extremely high regulatory risk.
- Inconsistent execution quality and higher slippage.
- High commission on ECN Account ($10.00 RT).
- Withdrawal fees apply to most popular methods.
- Inactivity fee applies after 90 days.
Who Should Use LiteFinance?
- Great fit: Traders who prioritize high leverage or micro lot trading and have no access to properly regulated brokers.
- Not ideal: Anyone prioritizing Tier-1 safety (FCA/ASIC), or any active trader (inconsistent execution/high commission). Avoid.
Final Verdict
LiteFinance is a long-standing broker hampered by inconsistent execution quality and a risky regulatory model (Tier-4 SVG FSA).
The ECN Account is priced uncompetitively ($10 RT commission). The Classic Account's 1.7 pip spread is wide. This combination makes profitability harder than necessary.
The high regulatory risk, combined with withdrawal fees and poor execution consistency, places this broker in the 'Below Average' category.