Litefinance

LiteFinance broker, which many Iranian traders know by its old name, LiteForex, has been active in the financial markets since 2005 and is well known among Iranians for its Persian website and support, its cent account and copy trading. In this overview, we review LiteFinance's licenses, accounts, platforms, deposit and withdrawal costs and risks based on Teagle's data.

What kind of broker is LiteFinance?

This broker changed its name from LiteForex to LiteFinance in November 2021 and, with about 21 years of history, is one of the older brokers available to Iranians. The company's country of registration in Teagle's data is Saint Vincent and the Grenadines. According to Teagle's account table, LiteFinance offers 61 currency pairs, 73 cryptocurrencies, 15 commodities, 14 stock indices and 125 CFD contracts for trading. Education, analytical tools and a specialized glossary are also among its well-known features; for example, we have a separate tutorial on using the LiteFinance Fibonacci calculator .

LiteFinance broker licenses and credibility

Based on Teagle's latest review, LiteFinance's license status is as follows:

• Active license: CySEC, Cyprus (No. 093/08), a reputable European regulator;
• Revoked license: The FSA license of Saint Vincent and the Grenadines (No. 931) has been revoked.

The important point is that Teagle's data does not show which group company Iranian users' accounts are registered under, and the broker's country of registration is the same offshore jurisdiction whose license was revoked; so you should not automatically take the CySEC license to mean European protection for your account. Teagle's expert also recommends checking the regulatory conditions before opening an account. For this, read the guide to broker regulation tiers .

Does LiteFinance serve Iranians?

Yes; according to Teagle's data, LiteFinance serves Iranian users, its website can be displayed in Persian and it offers online Persian support. Identity verification at this broker is instant. Teagle's expert considers it a noteworthy option for users looking for Persian-language services and easy access from Iran.

LiteFinance trading accounts

LiteFinance has three main account types, all offered with floating spreads, leverage up to 1:1000 and an Islamic (swap-free) version:

• Cent account: Minimum deposit $10, no commission, spreads from 3 pips and a 50% stop-out; on MT4 and MT5.
• Classic account: Minimum deposit $50, no commission, spreads from 1.8 pips and a 20% stop-out.
• ECN account: Minimum deposit $50, spreads from zero and commission from $0.25 per lot; 100% margin call and 20% stop-out.

Spreads on the Cent and Classic accounts are high compared with some competitors, so if you trade frequently, the ECN account is usually more sensible; see the comparison of ECN accounts with other accounts . The cent account is designed for starting with real money and low risk; we have compared similar options in best brokers for cent accounts . Scalping, hedging, expert advisors and news trading are declared allowed at this broker.

LiteFinance platforms and services

Trading at LiteFinance is done on MetaTrader 4, MetaTrader 5 and cTrader; cTrader is available for Classic and ECN accounts. The copy trading system is one of this broker's most important features and lets beginners follow the trades of successful traders; before using it, read the copy trading guide . Bonuses, cashback, rebates, a virtual server (VPS), an economic calendar and an affiliate program are also on the list of services; see the details of the affiliate program in the LiteFinance CPS program and active bonuses on the broker bonuses page .

Deposits and withdrawals at LiteFinance

In Teagle's payment table, deposits are free with all methods and instant with most of them, and withdrawals take up to 24 hours. Withdrawal fees, however, depend on the method: credit card and advcash are free, Bitcoin, Ethereum and Perfect Money 0.5%, Neteller 2% capped at $30, and Visa 3.5%. For Iranian users, crypto deposits and withdrawals are the most accessible route. Keep in mind that if the account is inactive for a while, a $10 fee is deducted from it.

LiteFinance's rating and risk on Teagle

LiteFinance's final rating on Teagle is 2.79 out of 5: Trustpilot 3.77, Teagle expert 3, WikiFX 2.95, Forex Peace Army 2.22 and Teagle users 2. The Teagle Eye risk index for this broker is 39 out of 100, in the "low to medium risk" category; the CySEC license and long track record have helped this figure, but according to the same index, most user reviews in the past six months have been negative.

Pros and cons of LiteFinance broker

• Pro: about 21 years of history and an active CySEC license
• Pro: start with $10, a cent account for beginners and an ECN account for professionals
• Pro: Persian support, copy trading and the cTrader platform alongside MetaTrader
• Con: relatively high spreads on Cent and Classic accounts
• Con: significant fees on some withdrawal methods and a $10 inactivity fee
• Con: revoked Saint Vincent license and unclear contracting company for Iranian users

Who is LiteFinance suitable for?

In the words of Teagle's expert, LiteFinance suits a pragmatic, cautious trader who understands the risks and knows how to manage them; but it is not suitable for risk-averse people or for holding one's main life savings. Before deciding, weigh it against another long-established broker in the LiteFinance vs Alpari comparison .

Conclusion

LiteFinance has an acceptable record in terms of history, account variety and Persian services, but the recent negative reviews and the unclear regulatory coverage for Iranian users should not be ignored. Start with a cent account or small capital, make a test withdrawal, and before adding more capital, measure the real spread cost during your own volatile trading hours.