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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 CMA of Kenya

Updated : August 31, 2022

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

USD 50 / 5825 KES

Regulators

Trading Desk

MetaTrader 4, MetaTrader 5, Web-based

Crypto

No

Total Pairs

40

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on LiteFinance’s website

LiteFinance 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 namely an ECN Account and a Classic Account.

 

👉 LiteFinance is an online broker that provides customers worldwide with ECN forex and CFD trading. Since its inception in 2005, the brokerage has grown to become a worldwide brand with offices in Asia, Africa, and Europe.

 

👉 The broker provides competitive spreads, social trading, and reasonable execution speeds through its ECN network, which contributes to the firm’s low requotes and consistent trading conditions. LiteFinance states that without the interference of a broker, customer transactions are sent straight to the liquidity provider.

 

👉 The LiteFinance brand claims to have more than 500,000 customers worldwide, with around 300 accounts that are registered daily.

 

👉 This LiteFinance review will provide traders with the details that they need to consider whether the broker is suited to their unique trading objectives and needs.

 

Distribution of Traders

Distribution of Traders

👉 The distribution of traders with LiteFinance is as follows:

➡️ Malaysia – 11.5%

➡️ Nigeria – 7.8%

➡️ Russia – 7.0%

➡️ Netherlands – 5.9%

➡️ Canada – 5.72%

 

Popularity among traders who choose LiteFinance

🥇 LiteFinance is one of the Top 100 forex brokers for traders in Kenya.

LiteFinance At a Glance

🏛 HeadquarteredLimassol, Cyprus
⚖️ Local Market Regulator in KenyaCapital Markets Authority (CMA)
💰 Foreign Direct Investment in Kenya1.3% of the overall GDP
💸 Foreign Exchange Reserves in Kenya8.2 billion USD
🏛 Local office in Nairobi?No
⚖️ Governor of SEC in KenyaNone
✔️ Accepts Kenyan Traders?Yes
🗓 Year Founded2005
📞 Kenyan Office Contact NumberNone
📱 Social Media Platforms• Facebook
• Twitter
• Instagram
• LinkedIn
• YouTube
• Telegram
• RSS Feed
⚖️ RegulationCySEC
1️⃣ Tier-1 LicensesNone
2️⃣ Tier-2 Licenses• Cyprus Securities and Exchange Commission (CySEC)
3️⃣ Tier-3 Licenses• Saint Vincent and the Grenadines Financial Services Authority (SVG FSA)
🪪 License NumberCyprus – 093/08
⚖️ CMA RegulationNone
❌ Regional RestrictionsThe United States, Israel, Japan, Russia, and some other countries
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts2
✔️ PAMM AccountsNone
💧 Liquidity ProvidersUnknown
💰 Affiliate ProgramYes
💻 Order ExecutionMarket
📊 Starting spread0.0 pips, Variable
💰 Minimum Commission per Trade$0.25 per share
💸 Decimal PricingUp to 5 digits after comma
📞 Margin Call100%
🛑 Stop-Out20%
💰 Minimum Trade Size0.01 lots
💵 Maximum Trade Size100 lots
✔️ Crypto trading offered?Yes
✔️ Offers a KES Account?No
👥 Dedicated Kenyan Account Manager?No
📈 Maximum Leverage1:500
📋 Leverage Restrictions for Kenya?No
💰 Minimum Deposit (KES)5,700 KES or an equivalent to $50
✔️ Kenyan shilling Deposits Allowed?Yes
👥 Active Kenyan Trader Stats70,000+
🤝 Active Kenyan-based LiteFinance customersUnknown
💰 Kenya Daily Forex Turnover$100 million+
💵 Deposit and Withdrawal Options• Credit Card
• Debit Card
• Local Deposits
• Bank Wire Transfers
• Electronic Payment Gateways
• Crypto Wallets
⏰ Minimum Withdrawal TimeInstant
🕙 Maximum Estimated Withdrawal TimeUp to 5 working days
✔️ Instant Deposits and Instant Withdrawals?Yes
🏧 Segregated Accounts with Kenyan Banks?Yes
💻 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/KES currency pair?No
📊 USD/KES Average SpreadN/A
✔️ Offers Kenyan Stocks and CFDsNone
🗣 Languages supported on the WebsiteEnglish, Indonesian, Russian, Malay, Thai, Spanish, French, Portuguese, Chinese (Simplified), Arabic, Persian
📞 Customer Support LanguagesMultilingual
✔️ Copy Trading SupportYes
⏰ Customer Service Hours24/5
🧑‍💻 Kenyan-based customer support?No
💰 Bonuses and Promotions for KenyansYes
📚 Education for Kenyan beginnersYes
✔️ Proprietary trading softwareYes
🥇 Most Successful Kenyan TraderPatrick Mahinge (Net Worth – Private)
✔️ Is LiteFinance a safe broker for Kenyans?Yes
🥇 Rating for LiteFinance Kenya7/10
🎖 Trust score for LiteFinance Kenya76%
👉 Open Account👉 Open Account

Regulation and Safety of Funds

Regulation and Safety of Funds

👉 One of Cyprus’ registered Investment Firms (CIFs) with the registration number HE230122 is LiteFinance (Europe) Limited.

 

👉 To ensure compliance with the Markets in Financial Instruments Directive (MiFID II), the Cyprus Securities and Exchange Commission (CySEC) has granted license number: 093/08 to the company. Investment Compensation Fund (ICF) insures CySEC-regulated countries (European Economic Area, UAE, and the Marshall Islands) customers (ICF).

 

👉 If the broker runs into financial difficulties, this may assist safeguard the client’s money. The ICF will pay up to €20,000 in compensation to qualified customers. Customers’ money is held in segregated bank accounts, which means that the broker cannot use it to pay its own bills or meet other financial commitments.

 

👉 All customers of LiteFinance must be properly recognized according to the Anti-Money Laundering (AML) policy. The reason for this is that all customers are required to provide an identification card and a current power bill.

Account Types and Features

👉 Kenyan traders may choose between two basic account types at LiteForex, each of which can be used to trade on a variety of markets. All sorts of traders may benefit from these accounts since they are tailored to their specific needs.

➡️ ECN Account

➡️ Classic Account

 

Live Trading Accounts

ECN Account

👉 Advanced traders that want the greatest trading circumstances and a broad variety of advanced features will appreciate the ECN Account, which is a sophisticated retail investor account.

Account FeatureValue
📊 Starting SpreadFloating 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 typeMarket Execution
📈 Platform availability• MetaTrader 4
• MetaTrader 5
• LiteFinance Social Trading Platform
• LiteFinance Trading App
✔️ Leverage Ratio offeredFrom 1:1 to 1:500
💰 Account Base CurrencyUSD, EUR, or MBT
📉 Minimum Deposit5,700 KES or an equivalent to $50
☪️ Islamic Account Option Offered?Yes
✔️ Negative Balance ProtectionYes
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade Size100 lots
💻 Maximum Number of Open OrdersUnlimited
📊 Margin Level100%
🛑 Stop-Out20%
📱 Social Trading Offered?Yes

 

Classic Account

👉 LiteFinance’s Classic Account is one of the best conventional trading accounts for beginners and advanced traders and investors alike. With the Classic Account, you may trade using the following options:

Account FeatureValue
📊 Starting SpreadFloating spread from 1.8 pips
💸 Commission chargesNone
💻 Trade execution typeMarket Execution
📈 Platform availability• MetaTrader 4
• MetaTrader 5
• LiteFinance Social Trading Platform
• LiteFinance Trading App
✔️ Leverage Ratio offeredFrom 1:1 to 1:500
💰 Account Base CurrencyUSD, EUR, or MBT
📉 Minimum Deposit5,700 KES or an equivalent to $50
☪️ Islamic Account Option Offered?Yes
✔️ Negative Balance Protection0.01 lots
📉 Minimum Trade Size100 lots
📈 Maximum Trade SizeUnlimited
💻 Maximum Number of Open OrdersUnlimited
📊 Margin Level100%
🛑 Stop-Out20%
📱 Social Trading Offered?Yes

 

Demo Account

Demo Account

👉 A demo account is a no-risk way to learn how to trade, fine-tune your trading methods, or put Expert-Advisers to the test. A virtual investment is made when money is deposited into a demo account.

 

👉 In less than a minute, you can establish a demo account from your Personal Profile. LiteFinance offers a free trial account where you can learn how to trade on the MetaTrader platform without risking any of your own money.

 

👉 The LiteFinance Demo Account has the following features:

➡️ Unlimited virtual funding

➡️ Real quotes sourced from liquidity providers

➡️ The ability to use scalping and news trading strategies

➡️ Market execution on all orders with no requotes

➡️ Unlimited transaction duration

➡️ No Stop or Limit levels

➡️ Access to a wide range of tradable instruments

 

👉 Demo ECN trading is a great way for novices and experts alike to test different trading strategies and design their own trading plans. To improve your trading strategy, there will be no chance of losing money.

 

👉 With this demo account, Kenyans can try out a few different approaches and then choose the one that will bring them the most gains overall while trading with real money.

 

Islamic Account

👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.

 

👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

 

👉 For Muslim traders, LiteFinance provides Islamic Accounts that do not include swaps when a trader’s open position is carried over to the following day, which gives traders extra account trading benefits.

 

👉 It is possible for traders from any country, even Islamic ones, to utilize the LiteFinance Islamic Accounts to handle their money with ease.

Account Registration

Account Registration

👉 All Kenyan traders need to do to open a live trading account with LiteFinance is go to the broker’s official website, choose “Register” from the homepage, and fill out the registration form.

 

👉 Traders can read the Terms and Conditions and finish the registration process after providing their name, phone number, email address, and a password of their choosing.

 

👉 Customers will be sent to the Client Area of their social trading platform instantly upon logging in. After completing their profile, providing confirmation of their identification and residence, depositing the minimum amount, and beginning live trading, traders must proceed from here.

LiteFinance Vs Capital.com Vs Kwakol Markets – Broker Comparison

🥇 LiteFinance🥈 Capital.com🥉 Kwakol Markets
⚖️ RegulationCySECFCA, ASIC, CySEC, NBRB, FSAASIC, FINTRAC
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• LiteFinance Social Trading Platform
• LiteFinance Trading App
• Capital.com
• MetaTrader 4
• TradingView
• MetaTrader 4
• MetaTrader 5
💸 Withdrawal FeeNoNoNo
💻 Demo AccountYesYesYes
💵 Min Deposit5,700 KES2,300 KES110 KES
📊 Leverage1:500• NBRB – 1:100
FCA – 1:30
• ASIC/CySEC – 1:30
1:1000
📊 Spread0.0 pipsVariable, from 0.6 pipsFrom 0.0 pips
💰 Commissions$0.25 per share on Stock IndicesNone0.03% to 0.07%
🛑 Margin Call/Stop-Out100%/20%100%/50%100%/50%
💵 Order ExecutionMarketMarketMarket
💰 No-Deposit BonusNoNoNo
💵 Cent AccountsNoNoYes
💻 Account Types• ECN Account
• Classic Account
Live Account (Retail or Professional)• Standard Account
• ECN Account
• Professional Account
Cent Account
• No-Swap(Islamic) Account
• VIP Account
⚖️ CMA RegulationNoNoNo
💸 KES DepositsYesYesYes
💰 Kenyan shilling AccountYesYesNo
📞 Customer Service Hours24/524/724/5
🛍 Retail Investor Accounts216
☪️ Islamic AccountYesNoYes
💵 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size100 lotsDepends on the account balanceNone
⏰ Minimum Withdrawal TimeInstantInstant1 hour
💻 Maximum Estimated Withdrawal TimeUp to 5 working daysUp to 3 Working DaysUp to 7 days
💵 Instant Deposits and Instant Withdrawals?YesYesNo

Trading Platforms

👉 LiteFinance offers Kenyans a choice between these platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ LiteFinance Trading App

➡️ LiteFinance Social Trading Platform

 

Desktop Platforms

Desktop Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

MetaTrader 4

👉 Forex and CFD traders often use MetaTrader 4, a trading platform created by MetaQuotes Software Inc. MetaTrader 4 is one of at least two trading platforms offered by most Forex and CFD firms, and it is usually the only one available.

 

👉 When it comes to trading Forex and CFDs, MetaTrader 4 is without a doubt the most frequently used and consistently popular online trading platform.

 

MetaTrader 5

👉 One of the most advanced trading platforms on the market is MetaTrader 5. MetaTrader 5 is not as popular as MetaTrader 4, but it provides the ability to trade stocks and commodities, unlike MetaTrader 4, which is focused on the FX market.

 

👉 As a more experienced trader, you may choose this multi-asset, multi-functional platform, especially because it enables you to manage numerous trading accounts at the same time.

 

👉 Price data is available on the site, and non-tradable assets like gold may provide margin for open positions in other instruments. More advanced Kenyan traders can also create custom financial symbols.

 

WebTrader Platforms

WebTrader Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ LiteFinance Social Trading Platform

MetaTrader 4

👉 With LiteFinance’s MetaTrader 4 Web Trader platform, trading has never been easier. The MT4 WebTrader offers the same unique and robust features as the desktop version, with the advantage that you can use the platform from any computer or mobile device through a web browser.

 

👉 You can easily launch your MetaTrader 4 Web Trader Platform in a new window with a single click, allowing you to begin trading immediately.

 

👉 Using WebTrader’s safe encryption, you will have access to a dependable and user-friendly trading platform. To initiate and finish trades, use smart risk management, and use great charting tools are just a few of the features available to LiteFinance’s Kenyan traders.

 

MetaTrader 5

👉 As one of the most prominent multi-asset trading software platforms on the market, MetaTrader 5 may be utilized either on its own or coupled with an online broker like LiteFinance.

 

👉 The platform has a vast marketplace of third-party add-ons that may be used to execute a wide range of functions, from basic and qualitative to technical and quantitative.

 

👉 There are about 38 technical indicators, 44 analytical items and 21 timeframes 1-minute history in the MT5 basic platform. In addition, the marketplace allows for the addition of new indications and functionality to the platform.

 

LiteFinance Social Trading Platform

👉 The ‘My LiteFinance’ section of the LiteFinance website includes this social trading platform. Once Kenyans have registered an account, this is the initial platform that all customers have access to.

 

👉 With this web-based trading system, you can choose whether you wish to imitate the trading signals of other traders based on their performance ratings. Thus, when a copy trading signal generates a transaction, the trades of Kenyans are automatically repeated in their LiteFinance trading account.

 

Trading App

Trading App

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ LiteFinance Trading App

MetaTrader 4 and 5

👉 Both Android and iOS versions of MetaTrader 4 and 5 are freely available to Kenyan traders. Both the desktop and mobile apps have the same appearance and feel and work together effortlessly.

 

👉 MT4 and MT5 accounts are seamlessly integrated across all devices, ensuring that Kenyan traders never miss a beat despite which version of the platforms they use. MT4 and MT5 trading applications provide a variety of functionalities, including:

➡️ It is ideal for keeping an eye on the markets while you are on the move.

➡️ All trading instruments’ ‘buy’ and ‘sell’ prices are shown in real-time on the applications.

➡️ Alerts, favorite instruments and interface colors are only some of the options that can be customized.

➡️ The mobile app fantastic trading tool for those who are always on the move.

➡️ Using market or pending orders, multiple orders may be placed, changed, or closed.

➡️ The MT4 app has four pending orders, whereas the MT5 app has six.

➡️ Account balances, trade tracking, and history are all available in real-time on the trading apps.

 

LiteFinance Trading App

👉 Customers of LiteFinance get access to free mobile Forex applications. Kenyan traders can gain access to LiteFinance apps that provide daily analysis, trade indications, and techniques.

 

👉 With the LiteFinance trading app, Kenyans can easily open, manage and close positions, trade a variety of markets, and keep an eye on market trends and news events.

 

Range of Markets

👉 Kenyan 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

Broker Comparison for Range of Markets 

🥇 LiteFinance🥈 Capital.com🥉 Kwakol Markets
➡️ ForexYesYesYes
➡️ Precious MetalsYesYesYes
➡️ ETFsNoNoNo
➡️ CFDsYesYesYes
➡️ IndicesYesYesYes
➡️ StocksYesYesYes
➡️ CryptocurrencyYesYesYes
➡️ OptionsNoNoNo
➡️ EnergiesYesYesYes
➡️ BondsNoNoNo

Trading and Non-Trading Fees

Spreads

👉 LiteFinance provides floating/variable spreads, meaning that LiteFinance’s spreads will fluctuate based on the financial instrument being traded, retail investor accounts, and current market circumstances. The ECN Account offers narrow spreads; however, each transaction is charged a fee based on the financial asset being traded.

 

👉 Classic Account spreads are wider, but there are no transaction fees, making it a preferable option for new traders. Some of the typical spreads that Kenyans can expect from LiteFinance are as follows:

💰 Financial Instrument📊 Classic Account Typical Spread📈 ENC Account Typical Spread
Forex Major Pairs1.8 pips0.0 pips
Forex Minor Pairs10 pips3 pips
Forex Major Crosses14 pips6 pips
Energies3 pips1 pip
Precious Metals9.5 pips4.3 pips
Indices0.0 pips0.0 pips
NYSE4.1 pips0.1 pips
NASDAQ4.1 pips0.1 pips
EURONEXT4.1 pips0.1 pips
LONDON LSE4.1 pips0.1 pips
XETRA4.1 pips0.1 pips
Cryptocurrencies0.3 pips0.1 pips

 

Commissions

👉 Because of the ECN Account commissions, LiteFinance can offer traders the narrowest spreads possible, making it ideal for day traders and other active investors who use scalping and other fast-paced, short timeframe trading strategies.

 

👉 LiteFinance charges fees based on the financial item being traded:

➡️ $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

 

Overnight Fees, Rollovers, or Swaps

👉 The current market circumstances are considered while determining overnight costs. For this reason, LiteFinance has the right to make modifications to its spreads and swaps at any time, based on market circumstances such as volatility and interest rate size.

 

👉 For every trading day, overnight costs are determined at midnight, and triple swaps are applied on Wednesday and Thursday nights.

 

👉 Some of the typical overnight fees that Kenyan traders can expect are as follows:

➡️ 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

👉 No fees are imposed on any of the payment options that LiteFinance accepts for deposits or withdrawals. However, the banks may charge Kenyan traders a processing fee for transfers to and from their LiteFinance trading account.

Overall Rating

Min Deposit

USD 50 / 5825 KES

Regulators

CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, Web-based

Crypto

No

Total Pairs

40

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on LiteFinance’s website

Deposits and Withdrawals

Deposits and Withdrawals

👉 LiteFinance offers the following deposit and withdrawal methods:

➡️ Debit Card

➡️ Credit Card

➡️ Local Deposits

➡️ Bank Wire Deposits

➡️ Perfectmoney

➡️ Boleto Bancario

➡️ MPesa Kenya

➡️ MPesa Tanzania

➡️ Africa Mobile Money

➡️ WebMoney

➡️ AliPay

➡️ Bitcoin Cash (BCH)

➡️ Bitcoin (BTC)

➡️ Ethereum (ETH)

➡️ Litecoin (LTC)

➡️ Monero (XMR)

➡️ Ripple (XRP)

 

Payment Method, Commission Charge, Minimum Deposit Amount

💰 Payment Method💵 Commission Charge💸 Min Deposit Amount
Debit Card0%1,100 KES ($10)
Credit Card0%1,100 KES ($10)
Local Deposits0%110 KES ($1)
Bank Wire Deposits0%11,500 KES ($100)
Perfectmoney0%1,100 KES ($10)
Boleto Bancario0%1,100 KES ($10)
MPesa Kenya0%110 KES ($1)
MPesa Tanzania0%110 KES ($1)
Africa Mobile Money0%1,100 KES ($10)
WebMoney0%1,100 KES ($10)
AliPay0%1,100 KES ($10)
Bitcoin Cash (BCH)0%1,100 KES ($10)
Bitcoin (BTC)0%1,100 KES ($10)
Ethereum (ETH)0%1,100 KES ($10)
Litecoin (LTC)0%1,100 KES ($10)
Monero (XMR)0%1,100 KES ($10)
Ripple (XRP)0%5,700 KES ($50)

How to Deposit Funds with LiteFinance

👉 To deposit funds to an account with LiteFinance, Kenyan traders can follow these steps:

➡️ Log into the Client Profile on the website and navigate to the “Finance” Section to find the Deposit option.

➡️ Select a payment method and provide the minimum deposit amount

➡️ Choose a deposit currency and confirm the deposit

LiteFinance Fund Withdrawal Process

👉 To withdraw funds from an account with LiteFinance, Kenyan traders can follow these steps:

➡️ Log into the Client Profile and select the “Finance” Section followed by “Withdrawals”

➡️ Choose the payment method that was used during account funding, enter a withdrawal amount, and complete the withdrawal request.

 

👉 During business hours, the Financial Department processes withdrawal requests manually. First-come, first-served transfers are made within one working day after the date of request, according to the Client Agreement.

 

👉 Kenyan traders must note if they utilize bank wire transfers, the transaction may take up to five working days to execute, depending on the operating speed of the sender’s and beneficiary’s banks.

Education and Research

Education and Research

👉 LiteFinance offers the following Educational Materials:

➡️ LiteFinance Webinars

➡️ Forex Glossary

➡️ Forex books

➡️ Trading Strategies from professional traders

➡️ LiteFinance Trader Reviews

➡️ Demo Account

➡️ FAQ section

 

👉 LiteFinance offers Kenyan traders the following 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

Bonuses and Promotions

Bonuses and Promotions

👉 LiteFinance offers Kenyan traders the following bonuses and promotions:

➡️ The return of commissions with zero trading costs

➡️ LiteFinance Dream Draw contest

➡️ New Year Promo 2022

➡️ Contest for Forex video bloggers

➡️ Demo Contest

➡️ Successful partner of the month

Overall Rating

Min Deposit

USD 50 / 5825 KES

Regulators

CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, Web-based

Crypto

No

Total Pairs

40

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on LiteFinance’s website

How to open an Affiliate Account with LiteFinance

How to open an Affiliate Account with LiteFinance

👉 Kenyans can navigate to the Affiliate section on the LiteFinance website and follow these steps to become a partner:

➡️ Complete the short registration form

➡️ Choose a program or select multiple programs

➡️ Access the affiliate link on the affiliate menu and start sharing it

➡️ Gain access to banners and landing pages

➡️ Start earning for every client referred to the LiteFinance website

 

LiteFinance Affiliate Program Features

👉 LiteFinance provides two types of affiliate programs: revenue share and cost per sale. While the CPS program is a multi-tiered initiative with the greatest pay, the Revenue Share program provides members with a steady revenue stream via commissions on trades made by recommended customers.

 

👉 The CPS program gives the highest partner compensation, up to $50 per recommended customer and 10% of sub-partners revenue. The Revenue Share program pays the largest commissions in the industry, up to $15 per referral transaction and 10% of the earnings of sub-partners.

LiteFinance Corporate Social Responsibility

👉 There is currently no information on LiteFinance’s Corporate Social Responsibility.

Verdict on LiteFinance

👉 LiteFinance is a registered brokerage firm that enables customers to trade Forex and CFDs online. Segregated bank accounts are used to hold client money.

 

👉 They provide the well-known MT4 and MT5 platforms, which are renowned for their simplicity, robustness, sophistication, and power when it comes to integrating numerous trading tools and undertaking chart analysis.

 

👉 Additionally, there is a chance for Kenyan traders to participate in social and copy trading, which involves replicating the trading signals of other traders. There are several financing alternatives available. A third-party organization, Claws & Horns, does in-depth market studies, helping advanced Kenyan traders make improved trading decisions.

LiteFinance Pros and Cons

✔️ Pros❌ Cons
LiteFinance is well-regulated and compliant with MiFID requirementsVPS is not provided free of charge
Expert analysis is provided through Claws & HornsCommission charges are not the cheapest
There is a market-leading analysis app provided to Kenyan tradersThere is a limited selection of tradable instruments
Dedicated client support offered in several languages

FAQ

Is LiteFinance regulated in Kenya?

No, LiteFinance does not have regulations with the Capital Markets Authority (CMA) in Kenya, but the broker is well-regulated by the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, a Tier-2 regulator.

 

What is the minimum deposit for LiteFinance?

The minimum deposit required to register an ECN Account or Classic Account with LiteFinance is 5,700 KES or an equivalent to $50.

 

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 a Cent Account?

No, LiteFinance does not offer a Cent Account, but offers an ECN and Classic Account.

 

How did we rate LiteFinance?

We give LiteFinance an overall rating of 7/10 because of its Tier-2 regulations, trading conditions, trading platforms, demo account, Islamic account option, range of educational materials and trading tools, and bonuses for Kenyan traders.

 

LiteFinance does not offer a KES-denominated account and the spreads that are charged are not the tightest.

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.

9.7/10 - (20 votes)