LiteForex Review
Website: LiteForex
About company:
LiteForex is a financial group consisting of two organizations. One is registered in the Marshall Islands, the second – as a Cyprus Investment Company. The trading platform appeared in 2005 and was originally conceived for novice traders. At that time, it was the first broker that offered market participants to work on cent accounts from 1 USD. Today, Light Forex is in demand among a wide range of clients – from beginners to large investors. Not the last factor in favor of this platform is the variety of trading instruments. At their discretion, users can work with oil, currency pairs, stocks, cryptocurrencies, etc. Thanks to favorable conditions, the site managed to attract more than 400,000 active participants from all over the world. And according to the authoritative edition of World Finance, the brokerage organization is in the top 100 of the world rating. A good reputation in the market is confirmed by the positive feedback from traders.
Server is now down for more than a day!!!
Imagine what impact it could have on forex traders where even milliseconds matter. Sites like Liteforex and Robinhood are nothing but a scam. If you love your money, then just stay away from these scam websites.
***UPDATE***
Even though there’s a reply here that says their website has been brought back up. But do not believe them, it is still down for more than 3 days now.
Their servers were shut down for 3 days!!!!!!
This is unacceptable!!!
They block all my money till now!!!!!!
I’m wondering how they don’t any backup server for these days.
I’m working for a local broker in my country. We need just 3 minutes to switch to our backup servers!
I’m here again.very bad server is still down.but well..I was able to withdraw money successfully from my account today so i am very much certain that they ain’t a scam or something fishy
They genuinely have a problem.but my problem and concern is .such a big broker shouldnt handle things like a newbie broker.its being more than a a week and I expected something better by now. Do something..don’t act like you are not a serious broker !
I would like to have an update on my reviews.
after I wrote my review in Trustpilot something weird happened.
LiteForex changed my stoploss to a lower level and refund me a little of my loss.
Then after 2 days they bring down my stop loss again and refund me almost 80 precent of my loss. can you believe that ???
an ECN broker can stop haunt you 200 pip and after closing your position they can change your stoploss!!!
but I screenshot everything and provided to them but as I anticipated they did nothing and just keep saying that your position was closed at your stoploss.so if I could upload any photos here you all could see what exactly happened
I also owe my 80 precent refund to Trustpilot.
big commission of withdrawal
They have one of the highest withdrawal commissions, the copy trading is not always working right so you make losses even though the copy account was profitable, and they don’t pay the 2.5% interest in EU.
For example, if you want to withdraw 1000 EUR you’ll only get 966 EUR and the rest is the commission. I’ve worked with other brokers and they have never charged a withdrawal fee.
Awful support, they might reply to this message that they can offer support but the fact is.. THEY DO NOT OFFER CUSTOMER SUPPORT WHAT SO EVER!!!!!!!!!
They Manipulate the market. Confirm this and you will realize I’m telling the Truth.
Check EURUSD ..3rd November 2022. From 12:20 pm – 1:30 pm UTC time .( Or go to 15 mins time frame 14:45 per the normal time on their platform)
You will realize they dropped it more than 100 pips. This didn’t happen on any other brokers chart.and this was wey after the news.
It didn’t even drop more than 10 pips on other brokers chart..
To be precise..it dropped more than 150pips . That’s a total scam and manipulation. Check for yourselves and prove me wrong.. no other broker I mean no other broker did that.. except liteforex
They did a big fraud with me , my 1500 usd credit has been deducted in my trading account 626079.
their answer was that drawdown 25% occured.
when the drawdown is the reason for deducting the credit why my credit did not deducted when my balane was 680 from 1500 ( 55%) drawdown?
when i made profits and i bring my account up to 1500, they have deducted my all funds,
and now they are not responding via email or live chat.