The trading space is teeming with deceivers. Losing money here by stumbling upon the wrong intermediary is as easy as shelling pears. However, now, using the example of LiteFinance, we will try to figure out what can reveal the true intentions of the counterparty and warn you of a possible danger.
Representative dossier
The company was founded in 2005 and became famous for its minimum deposit of $1. The managing broker corporation is LiteFinance Global LLC, whose registration is listed in the island state of Saint Vincent and the Grenadines, a hotbed of fraud.
The intermediary likes to change the names of his office like gloves, apparently for reasons of resourcefulness in order to avoid being held accountable. According to the consultant, his activities are licensed by local regulatory authorities. However, they were not provided with any official documents.
The assistant assures that the traders’ funds are reliably insured by compensation investor funds, which reimburse up to 20 thousand euros per claim due to unforeseen situations.
Trading conditions
The company’s website is simple, clear and uncomplicated. The broker’s system works on mobile versions of Android and iOS. To open an account, you first need to register, verify, and then log into your account.
From the assortment, the organization offers currency pairs, cross rates, raw materials, precious metals, indices, securities and cryptocurrency. The assistant provides three tariffs to choose from, one of which is called “cent” with an initial investment of about $10, as well as ECN and Classic with special conditions.
The portal provides training, training on demo accounts and employment. Deposits and withdrawals are carried out using credit and debit cards Visa and Mastercard, Qiwi, Neteller, Bitcoin, Litecoin, Monero, Ethereum, Bitcoin Gold, Bitcoin Cash, Swift, PerfectMoney, WebMoney and Skrill.
Reviews and feedback
For qualified support, according to the intermediary, players can contact via live chat, email, telephone, ticket system or custom call. However, there are serious doubts that at least somewhere employees will respond. For example, the email addresses turned out to be completely fake, which means the client will try to shout into thin air.
Traders’ comments do not provide a clear answer to the question of whether this broker is a scammer or not. But those who were unlucky, judging by their testimony, are not to be envied.
Conclusion
LiteFinance is a broker with unproven criminality. Despite seemingly favorable trading conditions, it operates illegally. Some escaped the fate of the deceived, while others were overtaken by it and given a double portion. We advise you to weigh the pros and cons and act at your own risk.