LiteFinance Review
Overall, LiteFinance is considered low-risk, with an overall Trust Score of 84% out of 100. LiteFinance is licensed by one Tier-2 Regulator (average trust), and one Tier-3 Regulator (low trust). LiteFinance offers two different retail trading accounts as well as Demo and Islamic accounts. LiteForex is currently not regulated by the Central Bank of Botswana.
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Trading Platforms
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.5/5
Min Deposit
USD 50 / 669 BWP
Regulators
CySEC
Trading Desk
MetaTrader 4, MetaTrader 5, Web-based
Crypto
Yes
Total Pairs
40
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
LiteFinance Review – 23 key points quick overview:
LiteFinance Overview
👉 Overall, LiteFinance is considered average risk, with an overall Trust Score of 76 out of 100. LiteFinance is licensed by zero Tier-1 Regulators (high trust), one Tier-2 Regulator (average trust), and zero Tier-3 Regulators (low trust). LiteFinance offers two different retail trading accounts: an ECN Account and a Classic Account.
👉 LiteFinance (previously LiteForex before renaming in 2023) is an online broker that provides customers all around the globe with access to ECN trading.
👉 Since its establishment in 2005, the brokerage has expanded into a worldwide brand that now has locations throughout the continents of Asia, Africa, and Europe.
👉 LiteFinance accepts Botswanan clients and has an average spread from 0.0 pips with a $0.25 commission. LiteFinance has a maximum leverage ratio up to 1:500, and a demo and Islamic account are available.
👉 MT4, MT5, LiteFinance Social, and LiteFinance Mobile platforms are supported. LiteFinance is headquartered in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC).
LiteFinance Distribution of Traders
👉 LiteFinance currently has the largest market share in these countries:
➡️ Malaysia – 11.15%
➡️ Nigeria – 7.8%
➡️ Russian Federation – 7%
➡️ Netherlands – 5.9%
➡️ Canada – 5.7%
Popularity among traders who choose LiteFinance
👉 LiteFinance does not have a large market share in Botswana. However, based on the broker’s unique offering and advantages, LiteFinance is one of the top 35 brokers for the region.
LiteFinance At a Glance
| 🏛 Headquartered | Limassol, Cyprus |
| 🌎 Global Offices | Cyprus |
| 🏛 Local Market Regulators in Botswana | • Ministry of Finance and Economic Development (MFED) • Bank of Botswana (BoB) • Non-Bank Financial Institutions Regulatory Authority (NBFIRA) |
| 💳 Foreign Direct Investment in Botswana | 115.89 BWP Million in 2021 |
| 💰 Foreign Exchange Reserves in Botswana | 5270 USD Million in 2021 |
| ✔️ Local office in Gaborone? | No |
| 👨⚖️ Governor of SEC in Botswana | None, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana |
| ✔️ Accepts Botswana Traders? | Yes |
| 📊 Year Founded | 2005 |
| 📞 Botswana Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram • RSS Feed |
| ⚖️ Regulation | CySEC |
| 1️⃣ Tier-1 Licenses | None |
| 2️⃣ Tier-2 Licenses | Cyprus Securities and Exchange Commission (CySEC) |
| 3️⃣ Tier-3 Licenses | None |
| 🪪 License Number | Cyprus – 093/08 |
| ⚖️ MFED, BoB, or NBFIRA Regulation | No |
| ✔️ Regional Restrictions | The United States, Israel, Japan, Russia, and some other countries |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 2 |
| ✔️ PAMM Accounts | Yes |
| 💻 Liquidity Providers | Market |
| ✔️ Affiliate Program | Yes |
| 📱 Order Execution | Market Execution |
| 📊 Starting spread | 0.0 pips, Variable |
| 📉 Minimum Commission per Trade | $0.25 per share |
| 💰 Decimal Pricing | Up to 5 digits after the comma |
| 📞 Margin Call | 100% |
| 🛑 Stop-Out | 20% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 100 lots |
| ✅ Crypto trading offered? | No |
| ✔️ Offers a BWP Account? | No |
| 📉 Dedicated Botswana Account Manager? | No |
| 📈 Maximum Leverage | 1:500 |
| 📊 Leverage Restrictions for Botswana? | No |
| 💳 Minimum Deposit (BWP) | 660 BWP or an equivalent to $50 |
| ✔️ Botswana Pula Deposits Allowed? | No, only USD, GBP, EUR |
| 📊 Active Botswana Trader Stats | 250,000+ |
| 👥 Active Botswana-based LiteFinance customers | Unknown |
| 🔁 Botswana Daily Forex Turnover | Unknown, Forex overall is $6.6 Trillion |
| 💰 Deposit and Withdrawal Options | • Credit Card • Debit Card • Local Deposits • Bank Wire Transfers • Electronic Payment Gateways • Crypto Wallets |
| 💻 Minimum Withdrawal Time | Instant |
| ⏰ Maximum Estimated Withdrawal Time | Up to 5 working days |
| 💳 Instant Deposits and Instant Withdrawals? | Yes |
| 🏛 Segregated Accounts with Botswana Banks? | No |
| 📱 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • LiteFinance Social Trading Platform • LiteFinance Mobile App |
| 💻 Tradable Assets | • Forex • Precious Metals • Energies • Global Stock Indexes • CFD NYSE • CFD NASDAQ • CFD EURONEXT • CFD LONDON LSE • CFD XETRA • Cryptocurrencies |
| ✔️ Offers USD/BWP currency pair? | No |
| 📊 USD/BWP Average Spread | No |
| ✅ Offers Botswana Stocks and CFDs | No |
| 💻 Languages supported on the Website | English, Indonesian, Russian, Malay, Thai, Spanish, French, Portuguese, Chinese (Simplified), Arabic, Persian |
| ☎️ Customer Support Languages | Multilingual |
| 👥 Copy Trading Support | Yes |
| ⏰ Customer Service Hours | 24/5 |
| 📞 Botswana-based customer support? | Yes |
| 💸 Bonuses and Promotions for Botswanans? | Yes |
| 📚 Education for Botswana beginner traders | Yes |
| 📱 Proprietary trading software | No |
| 🤝 Most Successful Trader in Botswana | Currently unknown |
| ✔️ Is LiteFinance a safe broker for Botswana Traders? | Yes |
| 🎖 Rating for LiteFinance Botswana | 7/10 |
| 🥇 Trust score for LiteFinance Botswana | 76% |
| 👉 Open Account | 👉 Open Account |
LiteFinance Regulation and Safety of Funds
LiteFinance Regulation in Botswana
👉 The local market regulators in Botswana are as follows:
➡️ Ministry of Finance and Economic Development (MFED)
➡️ Bank of Botswana (BoB)
➡️ Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
👉 While LiteFinance is regulated globally, the broker does not yet have local regulations or licenses in Botswana. However, LiteFinance is a popular and trustworthy broker that accommodates Botswanan traders.
LiteFinance Global Regulations
👉 LiteFinance is well-regulated by:
➡️ Cyprus Securities and Exchange Commission (CySEC), under license number 093/08, ensures that LiteFinance remains compliant with the Markets in Financial Instruments Directive II (MiFID II).
LiteFinance Client Fund Security and Safety Features
👉 Customers from countries regulated by CySEC, including the European Economic Area, the United Arab Emirates, and the Marshall Islands, are covered by the Investment Compensation Fund (ICF) (ICF).
👉 This may help protect the client’s money if the broker has financial problems. In addition, eligible customers will get reimbursement from the ICF for up to €20,000.
👉 Because the money belonging to customers is kept in separate bank accounts, the broker is prohibited from using it to pay its own expenses or fulfil any other financial obligations.
LiteFinance Awards and Recognition
👉 From 2005 until recently, LiteFinance has secured several industry awards that spread across numerous services, including:
➡️ LiteFinance won the Global Brands magazine award for best Forex trading tools and software in Africa in 2021.
➡️ LiteFinance won the Global Brands magazine award for best Forex trading tools and software in Africa in 2021.
➡️ A noteworthy achievement for LiteFinance in 2021 was receiving the “Best Mobile Trading Platform” award at the Smart Vision Investment Expo 2021 in Cairo.
➡️ One of the most significant accomplishments of 2020 was winning the Forex Awards for Best ECN Broker in Africa.
LiteFinance Account Types and Features
👉 LiteFinance offers two primary account types: Classic and ECN. The Classic account is aimed at novices, while the ECN account is designed for seasoned traders and investors.
👉 The primary distinction is that the ECN account offers narrower spreads and fees. As a result, traders from Botswana may pick between these two basic account types, which can be used to trade on a range of marketplaces.
| 💻 Live Account | 💳 Minimum Dep. | 📊 Average Spread | 💸 Commissions | 💰 Average Trading Cost |
| ECN | 660 BWP / 50 USD | 0.0 pips | From 5 USD / lot | 5 USD |
| Classic | 660 BWP / 50 USD | 1.9 pips | Spread only | 19 USD |
LiteFinance Live Trading Account Details
ECN Account
👉 The ECN Account, a sophisticated retail investor account, will appeal to traders who want the most advantageous trading conditions and a vast array of advanced features.
| Account Feature | Value |
| 📊 Starting Spread | Floating spread from 0.0 pips |
| 💵 Commission charges | • $0.25 per share • $0.5 per Contract on Stock Indices • $0.5 per lot on Energies • $10 on Forex Major Pairs • $20 on Forex Crosses • $20 on Precious Metals • $30 on Forex Minor Pairs • 0.12% on Cryptocurrencies |
| 📈 Trade execution type | Market Execution |
| 📉 Platform availability | • MetaTrader 4 • MetaTrader 5 • LiteFinance Social Trading Platform • LiteFinance Trading App |
| ✔️ Leverage Ratio Offered | From 1:1 to 1:500 |
| 💸 Account Base Currency | USD, EUR, or MBT |
| 💰 Minimum Deposit | 660 BWP or an equivalent to $50 |
| ☪️ Islamic Account Option Offered? | Yes |
| ❌ Negative Balance Protection | Yes |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 100 lots |
| 💸 Maximum Number of Open Orders | Unlimited |
| 📊 Margin Level | 100% |
| 🛑 Stop-Out | 20% |
| 📱 Social Trading Offered? | Yes |
Classic Account
👉 The Classic Account at LiteFinance is one of the finest traditional trading accounts for novice and experienced traders and investors. With the Classic Account, the following trading possibilities are available:
| Account Feature | Value |
| 📊 Starting Spread | Floating spread from 1.8 pips |
| 💵 Commission charges | • $0.25 per share • $0.5 per Contract on Stock Indices • $0.5 per lot on Energies • $10 on Forex Major Pairs • $20 on Forex Crosses • $20 on Precious Metals • $30 on Forex Minor Pairs • 0.12% on Cryptocurrencies |
| 📈 Trade execution type | Market Execution |
| 📉 Platform availability | • MetaTrader 4 • MetaTrader 5 • LiteFinance Social Trading Platform • LiteFinance Trading App |
| ✔️ Leverage Ratio Offered | From 1:1 to 1:500 |
| 💸 Account Base Currency | USD, EUR, or MBT |
| 💰 Minimum Deposit | 660 BWP or an equivalent to $50 |
| ☪️ Islamic Account Option Offered? | Yes |
| ❌ Negative Balance Protection | Yes |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 100 lots |
| 💸 Maximum Number of Open Orders | Unlimited |
| 📊 Margin Level | 100% |
| 🛑 Stop-Out | 20% |
| 📱 Social Trading Offered? | Yes |
LiteFinance Base Account Currencies
👉 Botswanan traders can register a LiteFinance ECN or Classic Account and choose between USD, EUR, or MBT as the base currency for the account.
👉 Because LiteFinance does not offer a BWP-denominated account, Botswanan traders will face currency conversion fees on deposits/withdrawals.
LiteFinance Demo Account
👉 Demo accounts are available for the LiteFinance online platform, mobile app, and MetaTrader desktop platform. Demo accounts are advantageous for novices because they enable them to practice their methods and get used to the trading platform without risking real funds.
👉 Botswanans can expect these unique features from the LiteFinance Demo Account:
➡️ Unlimited virtual financing.
➡️ Quotes acquired directly from liquidity providers.
➡️ Capacity to use scalping and news trading tactics.
➡️ Market execution without requotes on all orders.
➡️ Unrestricted transaction period.
➡️ No Limit or Stop levels.
➡️ Access to several tradable instruments.
LiteFinance Islamic Account
👉 Metatrader 4 and Metatrader 5 platforms are offered for both LiteFinance accounts, which provide market execution with no requotes. In addition, LiteFinance permits hedging and scalping and provides an outstanding copy trading service.
👉 In addition, the highest leverage allowed to Botswanan traders is 500:1, and both accounts are offered as swap-free Islamic options.
How to open an Account with LiteFinance in Botswana
👉 The registration process for a live trading account with LiteFinance is simple for Botswanan traders: just visit the broker’s website, choose “Register” from the homepage, and fill out the registration form.
👉 After submitting their name, phone number, email address, and password of their choice, traders may read the Terms and Conditions and complete the registration process.
👉 After signing in, users will be sent directly to the Client Area of their social trading platform. The next step is for traders to complete their profiles, verify their identities and addresses, make their first deposits, and go live with their trading.
LiteFinance Vs AvaTrade Vs JustMarkets – Broker Comparison
| 🥇 LiteFinance | 🥈 AvaTrade | 🥉 JustMarkets | |
| ⚖️ Regulation | CySEC | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC | FSA |
| 📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 • LiteFinance Social Trading Platform • LiteFinance Trading App | • AvaTradeGO • AvaOptions • AvaSocial • MetaTrader 4 • MetaTrader 5 • DupliTrade • ZuluTrade | • MetaTrader 5 • MetaTrader 4 • JustMarkets App |
| 💰 Withdrawal Fee | No | No | No |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 660 BWP | 1,300 BWP | 13 BWP |
| 📊 Leverage | 1:500 | • 1:30 (Retail) • 1:400 (Pro) | Up to 1:3000 |
| 📊 Spread | 0.0 pips | Fixed, from 0.9 pips | 0.0 pips |
| 💰 Commissions | $0.25 per share on Stock Indices | None | $3 units per lot/side |
| ✴️ Margin Call/Stop-Out | 100%/20% | • 25% – 50% (M) • 10% (S/O) | 40%/20% |
| 💻 Order Execution | Market | Instant | Market |
| 💳 No-Deposit Bonus | No | No | Yes |
| 📊 Cent Accounts | No | No | No |
| 📈 Account Types | • ECN Account • Classic Account | • Standard Live Account • Professional Account Option | • MT4 Standard Cent Account • MT4 Standard Account • MT4 Pro Account • MetaTrader 4 Raw Spread Account • MT5 Standard Account • MT5 Pro Account • MT5 Raw Spread Account |
| ⚖️ CBN Regulation | No | No | No |
| 💳 BWP Deposits | Yes | No | Yes |
| 📊 Botswana Pula Account | No | No | No |
| 👥 Customer Service Hours | 24/5 | 24/5 | 24/5 |
| 📊 Retail Investor Accounts | 2 | 1 | 7 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 📉 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📈 Maximum Trade Size | 100 lots | Unlimited | 100 lots |
| 💰 Minimum Withdrawal Time | Instant | 24 to 48 Hours | Instant |
| 📊 Maximum Estimated Withdrawal Time | Up to 5 working days | Up to 10 days | 10 bank days |
| 💸 Instant Deposits and Instant Withdrawals? | Yes | No | Yes |
LiteFinance Trading Platforms
👉 LiteFinance offers Botswanan traders a choice between these trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ LiteFinance Trading App
➡️ LiteFinance Social Trading Platform
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
MetaTrader 4
👉 Developed by MetaQuotes Software Inc., MetaTrader 4 is widely used by foreign exchange (FX) and contracts for difference (CFD) traders. Most Forex and CFD brokers provide MetaTrader 4 as one of at least two trading platforms and often as the sole one.
👉 MetaTrader 4 is the most popular online trading platform for trading Forex and CFDs.
MetaTrader 5
👉 MetaTrader 5 is among the most sophisticated trading platforms available. Whereas MetaTrader 4 is primarily designed for the foreign exchange (FX) market, MetaTrader 5 also allows for trading in equities and commodities, despite its lower popularity.
👉 If you are an experienced trader, you could choose this multi-asset, multi-functional platform because of its flexibility in managing many trading accounts simultaneously.
WebTrader Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ LiteFinance Social Trading Platform
MetaTrader 4
👉 The ‘My LiteFinance’ section of the LiteFinance website includes this social trading platform. This is the basic platform all traders can access when establishing an account.
👉 This online trading platform allows users to copy the trades of highly rated traders. Therefore, when a copy trading signal creates a trade, Botswanans’ transactions are instantly replicated in their LiteFinance trading account.
MetaTrader 5
👉 MetaTrader 5, one of the industry’s leading multi-asset trading software systems, may be used alone or in conjunction with an online broker such as LiteFinance.
👉 The platform’s marketplace is teeming with third-party add-ons that can be used to do anything from simple qualitative tasks to complex quantitative analyses.
👉 The MT5 basic platform has 21 1-minute period histories, 44 analytical items, and 38 technical indicators. The platform may also add new features and uses via the marketplace.
LiteFinance Social Trading Platform
👉 LiteFinance’s social trading platform may be found under the website’s ‘My LiteFinance’ section. Following account registration, this is the primary service available to Botswanans.
👉 You can select to copy the trades of highly rated traders on the web-based platform. To that end, whenever a copy trading signal creates a trade, Botswanans’ LiteFinance trading accounts will mirror those deals immediately.
Trading App
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ LiteFinance Trading App
MetaTrader 4 and 5
👉 Forex traders in Botswana could download the free mobile apps for MetaTrader 4 and 5 for Android and iOS. The desktop and mobile versions are identical in both looks and functionality.
👉 Botswanan traders may switch between using MT4 and MT5 on any of their devices without missing a beat because of the platforms’ universal compatibility. In addition, many features are available in the MT4 and MT5 trading platforms.
➡️ It is ideal for tracking the markets even while you are on the go.
➡️ In real-time, the programs display the current “buy” and “sell” prices for all trading instruments.
➡️ You can easily choose your own preferences for alerts, favourite instruments, and interface colours.
➡️ The trading app for mobile devices is a terrific investment resource for people who are often on the go.
➡️ Multiple orders may be made, modified, and cancelled using market and pending orders.
➡️ There are four pending orders on the MT4 app and six in the MT5 app.
➡️ The trading applications provide real-time access to account balances, transaction monitoring, and trade history.
LiteFinance Trading App
👉 Botswanan traders can download a free Forex trading app for their mobile devices. In addition, Botswana traders have access to LiteFinance trading applications that provide daily market research, trade signals, and trading strategies.
👉 The LiteFinance trading software makes it simple for Botswanans to enter, modify, and exit trades across several markets while tracking price movements, industry developments, and other relevant market news.
LiteFinance Range of Markets
👉 Botswanan traders can expect the following range of markets from LiteFinance:
➡️ Forex
➡️ Precious Metals
➡️ Energies
➡️ Global Stock Indexes
➡️ CFD NYSE
➡️ CFD NASDAQ
➡️ CFD EURONEXT
➡️ CFD LONDON LSE
➡️ CFD XETRA
➡️ Cryptocurrencies
Financial Instruments and Leverage offered by LiteFinance
| 🔨 Instrument | 💰 Number of Assets Offered | 📈 Max Leverage Offered |
| ➡️ Forex | 56 | 1:500 |
| ➡️ Precious Metals | 5 | 1:100 |
| ➡️ Energies | 2 | 1:100 |
| ➡️ Global Stock Indexes | 11 | 1:100 |
| ➡️ Cryptocurrencies | 65 | 1:2 |
| ➡️ Stock CFDs | 100+ | 1:20 |
Broker Comparison for Range of Markets
| LiteFinance | AvaTrade | JustMarkets | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | No | Yes | No |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | Yes | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | Yes | Yes |
| ➡️️ Options | No | Yes | No |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | Yes | No |
LiteFinance Trading and Non-Trading Fees
Spreads
👉 Spreads offered by LiteFinance are variable and could change depending on the financial instrument being traded, the type of account held by the retail investor, and the market state.
👉 Some examples of the typical spreads that LiteFinance customers in Botswana could anticipate seeing are as follows:
| 💸 Financial Instrument | 💵 Classic Account Typical Spread | 💰 ENC Account Typical Spread |
| Forex Major Pairs | 1.8 pips | 0.0 pips |
| Forex Minor Pairs | 10 pips | 3 pips |
| Forex Major Crosses | 14 pips | 6 pips |
| Energies | 3 pips | 1 pip |
| Precious Metals | 9.5 pips | 4.3 pips |
| Indices | 0.0 pips | 0.0 pips |
| NYSE | 4.1 pips | 0.1 pips |
| NASDAQ | 4.1 pips | 0.1 pips |
| EURONEXT | 4.1 pips | 0.1 pips |
| LONDON LSE | 4.1 pips | 0.1 pips |
| XETRA | 4.2 pips | 0.2 pips |
| Cryptocurrencies | 0.3 pips | 0.1 pips |
Commissions
👉 Because of the low commissions associated with the ECN Account, LiteFinance can provide its traders with the tightest spreads possible, making it an excellent choice for day traders and other active investors who engage in scalping and other strategies based on rapidly changing market conditions and brief timeframes.
👉 LiteFinance’s transaction fees vary depending on the financial asset being exchanged. Botswanans can expect these commission charges on the ECN Account:
➡️ $0.25 per share
➡️ $0.5 per Contract on Stock Indices
➡️ $0.5 per lot on Energies
➡️ $10 on Forex Major Pairs
➡️ $20 on Forex Crosses
➡️ $20 on Precious Metals
➡️ $30 on Forex Minor Pairs
➡️ 12% on Cryptocurrencies
Overnight Fees, Rollovers, or Swaps
👉 Overnight fees are calculated considering the current market conditions. LiteFinance reserves the right to change its spreads and swaps at any moment in response to changes in market conditions such as volatility and the number of interest rates.
👉 Daily overnight expenses are calculated at the close of trade, with triple swaps applied on Wednesday and Thursday evenings.
👉 Botswana traders should anticipate paying some of the following overnight fees:
➡️ EUR/USD – long swaps of -5.616 pips and short swaps of -0.156 pips.
➡️ USCRUDE – long swaps of 55.76 pips and short swaps of -89.28 pips.
➡️ XAU/USD – long swaps of -8.105 pips and short swaps of -1.049 pips.
➡️ XAG/USD – long swaps of -1.134 pips and short swaps of -0.137 pips.
➡️ SPX – long swaps of -3.786 pips and short swaps of -3.425 pips.
➡️ NYSE – long swaps of -0.1 pips and short swaps of -0.2 pips.
➡️ NASDAQ – long swaps of -0.1 pips and short swaps of -0.2 pips.
➡️ EURONEXT – long swaps between -0.1 pips to -2.85 pips and short swaps between -0.2 pips and -3.59 pips.
➡️ LONDON LSE – long swaps of -0.1 pips and short swaps of -0.2 pips.
➡️ XETRA – long swaps of -0.1 pips and short swaps of -0.2 pips.
Deposit and Withdrawal Fees
👉 When making a deposit or withdrawal, LiteFinance does not charge fees for using any available payment methods.
👉 However, Botswanan traders’ LiteFinance trading accounts could incur a processing fee from their respective banks whenever funds are transferred into or out of the account.
Inactivity Fees
👉 The account will be closed if a trading account is inactive for two months and has a balance of less than $100 USD. In addition, the LiteFinance levies a monthly dormancy fee of USD 10 (or the foreign currency equivalent).
Currency Conversion Fees
👉 Because LiteFinance does not offer a BWP-denominated account, Botswanan traders could be subject to currency conversion fees on both deposits and withdrawals.
LiteFinance Deposits and Withdrawals
👉 LiteFinance offers the following deposit and withdrawal methods:
➡️ Debit Card
➡️ Credit Card
➡️ Local Deposits
➡️ Bank Wire Deposits
➡️ Perfect Money
➡️ Boleto Bancario
➡️ M-Pesa Kenya
➡️ M-Pesa Tanzania
➡️ Africa Mobile Money
➡️ WebMoney
➡️ AliPay
➡️ Bitcoin Cash (BCH)
➡️ Bitcoin (BTC)
➡️ Ethereum (ETH)
➡️ Litecoin (LTC)
➡️ Monero (XMR)
➡️ Ripple (XRP)
Broker Comparison: Deposit and Withdrawals
| 🥇 LiteFinance | 🥈 AvaTrade | 🥉 JustMarkets | |
| Minimum Withdrawal Time | Instant | 24 to 48 Hours | Instant |
| Maximum Estimated Withdrawal Time | Up to 5 working days | Up to 10 days | 10 bank days |
| Instant Deposits and Instant Withdrawals? | Yes | No | Yes |
LiteFinance Payment Method, Commission Charge, Minimum Deposit Amount
| 💳 Payment Method | 💵 Deposit Currencies | 💳 Min Deposit Amount |
| Debit Card | 0% | 130 BWP ($10) |
| Credit Card | 0% | 130 BWP ($10) |
| Local Deposits | 0% | 13 BWP ($1) |
| Bank Wire Deposits | 0% | 1,300 BWP ($100) |
| Perfect Money | 0% | 130 BWP ($10) |
| Boleto Bancario | 0% | 130 BWP ($10) |
| M-Pesa Botswana | 0% | 13 BWP ($1) |
| M-Pesa Tanzania | 0% | 13 BWP ($1) |
| Africa Mobile Money | 0% | 130 BWP ($10) |
| WebMoney | 0% | 130 BWP ($10) |
| AliPay | 0% | 130 BWP ($10) |
| Bitcoin Cash (BCH) | 0% | 130 BWP ($10) |
| Bitcoin (BTC) | 0% | 130 BWP ($10) |
| Ethereum (ETH) | 0% | 130 BWP ($10) |
| Litecoin (LTC) | 0% | 130 BWP ($10) |
| Monero (XMR) | 0% | 130 BWP ($10) |
| Ripple (XRP) | 0% | 130 BWP ($10) |
How to Deposit Funds with LiteFinance
👉 To deposit funds to an account with LiteFinance, Botswanan traders can follow these steps:
➡️ Sign into your Client Profile and head to the “Finance” tab to use the Deposit feature.
➡️ Choose a deposit method, enter the minimum deposit amount, and confirm the deposit in the currency of your choice.
LiteFinance Fund Withdrawal Process
👉 To withdraw funds from an account with LiteFinance, Botswanan traders can follow these steps:
➡️ Sign into the Client Area, go to the Finances sub-menu, and then click the Withdrawals tab.
➡️ To make a withdrawal, you must first choose the financing method used to create the account, then enter the desired withdrawal amount, and then submit the request.
👉 Withdrawal requests are managed manually by the Finance Department during business hours. According to the Client Agreement, transfers are processed on a first-come, first-served basis and are completed no later than one business day from the date of request.
👉 Depending on the processing times of the sending and receiving banks, a bank wire transfer could take up to five business days to complete, which Botswanan traders should be aware of.
LiteFinance Education and Research
Education
👉 LiteFinance offers the following Educational Materials:
➡️ LiteFinance Webinars
➡️ Forex Glossary
➡️ Forex books
➡️ Trading Strategies from professional traders
➡️ LiteFinance Trader Reviews
➡️ Demo Account
➡️ FAQ section
Research and Trading Tool Comparison
| 🥇 LiteFinance | 🥈 AvaTrade | 🥉 JustMarkets | |
| ➡️ Economic Calendar | Yes | Yes | Yes |
| ➡️ VPS | No | Yes | Yes |
| ➡️ AutoChartist | No | No | No |
| ➡️ Trading View | No | No | No |
| ➡️ Trading Central | No | No | Yes |
| ➡️ Market Analysis | Yes | Yes | No |
| ➡️ News Feed | Yes | Yes | Yes |
| ➡️ Blog | Yes | Yes | Yes |
👉 LiteFinance also offers Botswanan traders the following additional Research and Trading Tools:
➡️ Economic Calendar
➡️ Technical analysis
➡️ Fundamental analysis
➡️ Analytical materials offered by Claws & Horns
➡️ Forex trading calculator
➡️ Currency rates and quote charts
➡️ Economic news
➡️ Trader’s rating
➡️ Terminology and regulations
LiteFinance Bonuses and Promotions
👉 LiteFinance offers Botswanan traders the following bonuses and promotions:
➡️ The return of commissions with zero trading costs
➡️ LiteFinance Dream Draw contest
➡️ New Year Promo 2023
➡️ Contest for Forex video bloggers
➡️ Demo Contest
➡️ Successful partner of the month
How to open an Affiliate Account with LiteFinance
👉 To register an Affiliate Account, Botswanan traders can follow these steps:
➡️ Botswanans may access the Affiliate portion of the LiteFinance website and follow these procedures to become an affiliate:
➡️ Fill out the brief registration form.
➡️ Select a single program or many programs.
➡️ Access the affiliate link from the affiliate menu and begin promoting it.
➡️ Access banner ads and landing pages.
➡️ Commence receiving compensation for each customer introduced to the LiteFinance website.
LiteFinance Affiliate Program Features
👉 The affiliate programs offered by LiteFinance are income sharing and cost per sale. In contrast, the CPS program is a multi-tiered initiative with the highest compensation.
👉 In addition, the Cash Share program offers participants a constant revenue stream via commissions on transactions completed by referred consumers.
👉 The CPS program provides the greatest partner remuneration, up to $50 per customer recommendation and 10% of sub-partner income. The Revenue Share program offers the industry’s highest commissions, up to $15 per referral transaction and 10% of sub-partner profits.
LiteFinance Customer Support
👉 LiteFinance provides round-the-clock customer service by email, telephone, and live chat. However, registration is required to utilize the live chat feature. Therefore, there was no need to connect via a chatbot to contact a helpful support representative.
👉 In addition, the LiteFinance VPS service provides specialized customer support teams available 24 hours a day, seven days a week, to assist new customers with installing EAs and indicators straight to their virtual machines.
| Customer Support | LiteFinance’s Customer Support |
| ⏰ Operating Hours | 24/5 |
| 🗣 Support Languages | English, Chinese, Arabic, Polish, Swedish, Malay, Vietnamese, Finnish |
| 🗯 Live Chat | Yes |
| 📧 Email Address | Yes |
| ☎️ Telephonic Support | Yes |
| 📞 Local Support in Botswana? | No |
| 🥇 Overall quality of LiteFinance Support | 3.5/5 |
LiteFinance Corporate Social Responsibility
👉 There is currently no information on LiteFinance’s Corporate Social Responsibility.
Our Verdict on LiteFinance
👉 Online trading has never been easier than with LiteFinance, a licensed and user-friendly broker.
👉 MetaTrader platforms, noted for being user-friendly despite their capability, are popular among traders of all skill levels for their ability to purchase and sell various CFD products easily.
👉 LiteFinance’s user-friendly interface and extensive trading tools make it an excellent choice for novice traders. While the costs are not the lowest in the industry, it may not be a deal breaker for casual traders.
👉 This broker has a lot going for it, including a dedicated account manager and helpful chat and email support staff. In addition, traders who work with the European subsidiary are covered by the safeguards established by CySEC.
👉 Those dealing with the offshore business could take advantage of more trading options and higher leverage. However, they should know that regulatory monitoring is limited to a single Tier-3 regulatory entity.
👉 Despite this, LiteFinance has invested significant money into making its site practical and easy to use, giving potential traders a great first impression.
👉 There is a lot of detail on the LiteFinance website about the various account options and the assets that may be traded using the service. However, information about how to contact the service staff is shown conspicuously.
👉 With this broker, onboarding new clients is a breeze since they provide a sample account that works with MetaTrader 4 and MetaTrader 5. In addition, withdrawing and depositing cash is extremely simple, so even novice traders will not have any trouble.
LiteFinance Pros and Cons
| ✔️ Pros | ❌ Cons |
| LiteFinance offers competitive trading conditions across both account types | LiteFinance is only regulated by one Tier-2 regulator |
| There is a decent and flexible selection of deposit and withdrawal options | The commission fees are expensive |
| Multilingual customer support is offered | There is a limited choice between trading accounts |
| There are educational materials offered to beginner traders | Currency conversion fees and inactivity fees apply |
| There is a demo account and an option for Islamic Accounts | |
| LiteFinance provides expert market analysis through Claws & Horns | |
| LiteFinance provides a social trading platform along with several strategy providers | |
| There is a broad selection of financial instruments that can be traded |
FAQ
How long does it take to withdraw funds from LiteFinance?
Withdrawals can take from 24 hours up to 5 working days, depending on the withdrawal method.
Does LiteFinance have Volatility 75?
LiteFinance does not currently offer Volatility 75 as part of its extensive portfolio of Index CFDs.
Does LiteFinance have Nasdaq?
LiteFinance offers NASDAQ as an index CFD, and shares listed on the Nasdaq 100.
Is LiteFinance regulated?
LiteFinance is regulated by the Cyprus Securities and Exchange Commission (CySEC) under 093/08.
Is LiteFinance safe or a scam?
Anyone from Botswana may feel secure trading with LiteFinance. Traders on LiteFinance are safeguarded from negative balances, and all customer money is kept in a separate account. Established in 2005, LiteFinance calls Cyprus home for its headquarters.
Who is the CEO of LiteFinance?
Aleksey Smirnov is the CEO of LiteFinance.
Is LiteFinance an ECN broker?
LiteFinance is an NDD broker that uses STP and ECN execution models to fill traders’ orders. These orders are sent to liquidity providers that aggregate the best possible pricing.
Conclusion
👉 Now it is your turn to participate:
➡️ Do you have any prior experience with LiteFinance?
➡️ What was the determining factor in your decision to engage with LiteFinance?
➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or other factors?
➡️ Have you experienced any issues with LiteFinance, such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
👉 Regardless, please share your thoughts in the comments below.
Addendum/Disclosure:
👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
