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Is LiteForex a Safe Online Broker? - The history and reputation of LiteForex

Founded in 2005, LiteForex has its own achieving history in the financial markets.

Can you trust LiteForex as your broker? The broker founded in 2005, has a long history and many achievements to share with online traders.

This article is originally referred from LiteForex Official Website.

A regulated and licensed online FX and CFD broker, LiteForex was founded in 2005.

Since its foundation, the broker has expanded the market to all over the world.

But it you haven’t heard about the name, you maybe wondering and want to know more about this broker’s history.

Here is the history of LifeForex expanding the market since 2005.

*The contents below are referred from the official website of LiteForex.

LiteForex Official Website

Founded in 2005

LiteForex’s history can be traced back to the year 2005.

The company’s official opening took place on the 2th of July.

The creation of a brokerage company that could rival existing companies and satisfy traders’ real requirements when working on the Forex international market was the initial concept.

At the same time, LiteForex made a significant breakthrough in the brokerage service by introducing cent accounts with the minimum deposit of $1, while other companies strictly respected the Forex entrance threshold.

This move made Forex available for potential investors and traders.

The choice of MetaTrader as a trading platform that had already become popular worldwide also was a component of their success.

Expanding the service to all areas in 2006

In the year 2006, LiteForex opened new official offices in Russia and concluded an agreement with the DowJones information agency.

In the same year, LiteForex significantly extended the list of services: there was introduced an affiliate program, a trading community where traders could communicate with one another or company’s representatives and share experience, a trading terminal for mobile trading; the clients also got the opportunity to open their own sites by use of the company hosting service.

LiteForex also introduced the deposit interest charge system which enables clients to make profit even from the funds which are not used in trading.

In the same year, LiteForex provided round-the-clock online customer support, which undoubtedly shows enormous attention that LiteForex devotes to its traders.

More support-languages and attracting 75,000 traders in 2007

In 2007, LiteForex reached a new development stage and entered the Asian and Pacific internet trading markets.

The company’s site was translated in 2 more languages, Malay and Chinese.

At the same time, LiteForex started cooperation with the ForexPeoples, an independent Forex community.

New trading instruments were introduced to extend clients’ opportunities – LiteForex indexes, which are the company’s own innovative product.

Official representative offices in Asia and Africa were opened in May, 2007.

Closer to the end of the year, the company’s site was translated into Arabic, Spanish, French, Portuguese and Persian, which made the cooperation between the native speakers of these languages and the company much easier.

In Latin America and some Islamic countries there were opened representative offices.

The clients also got the opportunity to trade via multi-terminal and terminal for smartphones.

By that time, the total number of the company’s clients had reached 75 000 traders.

Becoming a member of the Russian Association of Financial Market Members in 2008

In the year 2008 LiteForex became a member of the Russian Association of Financial Market Members (the RAFMM) and a sponsor of the ForexPeoples – the most popular portal in the CIS countries devoted to the Forex market.

The company considerably extended the list of payment systems, improved client services by introducing the Call-back option.

Five language versions were added to the company’s site.

The list of currency pairs was extended and new types of account were introduced.

The development of new Clients’ profiles started.

More development and promotions in 2009

In 2009, LiteForex completed the development of new, safe and convenient Clients’ Profiles.

The company pursued its world expansion, enlarging the list of its partners.

Jointly with one of the biggest airlines, LiteForex carried out an unprecedented promotion “Lucky ticket”, raffling a new sport car.

Swap free accounts were introduced, the development of new services started.

Being awarded at the ShowFX Asia in 2010

In the year 2010, LiteForex was awarded the “Affiliate Program Innovator” prize from ShowFX Asia for its multilevel affiliate program.

At the same time, the list and the convenience of the company’s services went on expanding.

The spread rebate system Multirebate, new types of account on another trading server MT4 with increased quote accuracy and floating spread, accounts operated through the new platform MetaTrader 5, multicurrency accounts – these were LiteForex’s innovations in that year.

The LiteForex Group was the first to carry out demo contests with real money prizes on a permanent basis.

The contest total prize amount is $127 000.

Running contests and Updating trading platforms in 2011

In 2011, to make mobile trading more convenient, LiteForex group of companies provided the terminal maintenance for Android, iOs and Blackberry, enlarged the list of payment systems, launched virtual private servers as well as the PAMM account service.

The service was acknowledged as “Best PAMM service” according to the competent British magazine World Finance.

The LiteForex Group raffled cars among its traders, launched contests for partners and a large-scale promotion “LFBoom”, that more than 200000 traders worldwide took part in.

Acquiring over 500,000 traders from all over the world by 2012

The LiteForex’s service quality is confirmed by 500 000 traders from the majority of countries.

LiteForex constantly enlarges the list of payment systems and trading tools, opens new offices and improves the methods of interaction with its clients.

New types of account are among the latest innovations: STP accounts enabling the clients to trade with interbank liquidity in МТ4 and segregated accounts assuring 100% protection of client’s funds.

LiteForex regularly raffles cars, bikes and other precious prizes in the countries of the Asian region.

Promotions, Sponsorship and Expansion of markets in 2013

One of LITEFOREX’s advantages over other brokerage companies is its client-focused approach that earned the award “Best Client’s Service in Latin America”, in 2012 from the international traders’ school Tutores-FX.

Their client support service has been recognized as the best in Latin America, highlighting their potential for further development in the region.

LITEFOREX also launched Chinese and Arabic versions of its official site to provide clientele with competent assistance in a variety of world languages.

LiteForex’s active expansion in Western Europe helps it win the “Fastest Growing STP Broker in Western Europe 2013” award from Global Banking & Finance Review.

For the third time LiteForex hosted the largest contest for Malaysian traders – the Great Hundred – and provided winners with prizes, such as a KIA FORTE 1.6SX, a motorbike Yamaha FZ150i, and an Apple MacBook Pro.

Additionally, LiteForex launched a contest “WorldChallenge” with a grand prize of a Mercedes Benz S 400 hybrid.

The winners of the first two stages were offered Apple iPhones 5 64GB, and modern tablet computers, as well.

The range of the company’s services continues to grow.

LiteForex introduced a promotion “Deposit insurance” and made it possible for PAMM managers to trade BRENT and WTI.

A new option became available in the framework of the “PAMM accounts” service – the rollover calendar.

Their lines of payment systems and financial tools become more varied: over 30 new instruments were introduced in 2013 – world indexes, precious metals (platinum and palladium), share CFDs of the biggest international and Russian companies.

Being always happy to help its like-minded friends, LiteForex became an official sponsor of box champion Mairis Briedis, one of the most professional Latvian boxers, and biathlete Gabriela Soukalova, Sochi’s silver medalist.

Sportsmen and LiteForex’s team have first-hand knowledge of how to move forwards, be an example to follow and aspire to new records.

Increasing trading tools and payment systems in 2014

In the year 2014, their list of trading tools and payment systems increased substantially.

The service of automatic funds withdrawals now includes the Neteller payment system, their clients from Belarus can use the EasyPay method, Brazilian traders can top up their accounts via Transferência Bancária Brasil, and UnionPay was implemented specially for their clients from China.

Another novelty is an opportunity of direct deposits via bank cards, which allowed LiteForex to refund clients for deposit fees.

In March 2014, the company organized a conference in Peru dedicated to global financial markets.

One of the highlights of the conference was raising a flag of LiteForex in Machu Picchu.

In the same month, LiteForex made a decision to support traders and partners of the ForexCent Company that had ceased business.

Their company allowed ForexCent’s former clients to continue trading without financial losses.

LiteForex returned all funds kept in ForexCent’s accounts to the clients and transferred all trades to LiteForex’s servers.

Their company was among the first to implement the online trading platform Sirix Web Trader.

Besides, LiteForex offered their clients the Autochartist application designed for automatic forecasts of market evolution.

LiteForex also designed a number of new client loyalty services, such as Risk Free, a service refunding clients for losses of up to $250, and an updated version of their popular affiliate program “Bring a friend 2.0” that now provides multi-level unlimited earning opportunities.

In the summer, LiteForex raffled a luxurious Mercedes Benz S400 along with other precious prizes within the framework of their large-scale contest World Challenge, which attracted over 3000 traders worldwide.

The creation of LiteForex’s VIP club was a peculiar moment in LiteForex’s history in 2014.

The club allowed them to enlarge their clients’ potential and vary the trading process for both beginners and professionals.

The beginning of their cooperation with the Claws&Horns independent analytical portal is also worth a mention, as our clients are now able to access high quality analytical materials at no cost.

In the same year, the network of their representative offices was enlarged with the opening of an office in Benin City, Nigeria.

To recap, LiteForex are deeply satisfied with what was achieved in the year 2014, as LiteForex managed to confirm their reputation, reliability and future-oriented approach to providing Forex trading services.

Upgrade of account types and Funding in 2015

In the year 2015, LiteForex celebrated its 10th anniversary in the Forex market.

Ten years have passed since their company was set up and gradually proved to be a successful broker.

LiteForex are proud to have celebrated their anniversary with their clients and partners.

Their anniversary promotion LF 10th Birthday Promo allowed them to express their gratitude for your confidence with the help of pleasant monetary prizes.

In 2015, LiteForex improved greatly the quality of analytical materials by dropping the out-of-date Autochartist service and opting for the modern professional Claws&Horns portal.

The beginning of this cooperation is worth a special mention since LiteForex got the fullest package of analytical materials LiteForex could.

The high quality of their analytical materials is guaranteed by the professional independent team of authors that publishes the materials in over 10 languages.

The service is provided to LiteForex’s clients at no cost.

Also, LiteForex updated the company blog and brought in the best authors from the economic and financial sector.

The “LiteForex analytics” freeware for Android and HTML5-based Metatrader 4 WebTerminal, which allows for one-click trading right within your browser, were also launched in 2015.

LiteForex’s PAMM system has been keeping the lead for several years, which is very important to them.

That’s why LiteForex’ve been trying hard to develop this service even more.

In 2015, LiteForex optimised PAMM accounts management so that their investors can perform lots of account operations much quicker by grouping accounts into categories.

Besides, the company simplified participation in their affiliate contests and developed more convenient Partner’s profiles, which display all necessary statistics on referrals and provide access to all available promo-materials.

The upgraded Partner’s Profiles took into consideration their partners’ comments and wishes, so they received the most positive response.

LiteForex upgraded the system of their trading accounts by providing CENT, CLASSIC, ECN, and PAMM types, along with reduced spreads (fixed spreads from 2 points and floating spreads from 0.9 points), and LiteForex improved trading conditions in the ECN accounts.

LiteForex made deposits and withdrawals through payment systems more convenient, including automated fee refunds when depositing via Skrill and withdrawals onto bank cards for the deposits made through PayOnline, CardPay or Qiwi.

LiteForex enlarged the list of payment systems for their clients to use and brought in a convenient and reliable aggregator Moneta.ru.

Following their clients’ numerous requests, LiteForex launched individual courses “1х1 Education” so that their clients could master the trader profession in the shortest time with the help of competent and experienced Forex practitioners.

LiteForex raise the level of their services every year, not least due to enlarging the network of their worldwide representative offices.

In 2015, LiteForex opened another 2 offices: in Nairobi, Kenya, and in Lagos, Nigeria.

On 9th and 10th April, LiteForex had the honour to sponsor the 14th MENA FOREX Managed Funds and Investment Show in Dubai, UEA.

Besides its geographical expansion, LiteForex extends the range of activities by starting to provide liquidity to its institutional clients.

In the run-up to the New Year holidays LiteForex organized the New Year Promo 2015 contest and awarded their clients with a slew of precious prizes, confirming their focus on loyalty.

Within the framework of the most awaited event of the year, Great Hundred Season 4, – LiteForex raffled a car Toyota VIOS, a motorbike Yamaha FZ150i, Apple Macbook Pro, 5 Apple iPhones 6, 5 Apple iPads Air, 5 Apple iPads Mini, 5 Apple iPods Touch, and 10 digital media players Apple TV.

Proclaimed as the Best Innovative Broker at the second annual FOREX EXPO CONFERENCE AND EXHIBITIONS, LiteForex can deservedly pride ourselves on the year 2015 and continue their work in 2016 with even more inspiration.

Launching Social Trading in 2016

Since the beginning of the year 2016, LiteForex has introduced a multitude of important and worthy changes.

LiteForex’ve begun the year with summing up the results of their traditional New Year raffle New Year Promo 2016, offering precious prizes (iPad, iPhone, MacBook) to their happy clients and starting a new year that promises a lot of positive events.

In spring, LiteForex launched a truly magnificent project – Social Trading, traders’ social network for copying trades.

The project increases their clients’ opportunities and profits manyfold since this exceptional platform allows them to boost and stabilize earnings by getting an extra income through duplication of successful traders’ trades or provision of their own trades for duplication.

Social Trading participants can exchange their skills and acquire new knowledge by communicating with traders from all around the world.

Further, their team has developed a new version of the “Bring a friend 3.0” program, integrating it with the Social Trading project, and launched the “LiteForex Analytics” mobile application that provides the clients with high quality content from the Claws&Horns analytics portal.

Their geographical presence has been expanded with 2 more representative offices in Nigeria (Port Harcourt) and Georgia (Tbilisi).

Furthermore, LiteForex have upgraded the range of their trading tools, adding Hong Kong 50 (HK50), Spain 35 (IBEX35), and Italy 40 (IT40) indexes, and LiteForex have cancelled minimum deposit amounts in ECN accounts with increased accuracy of quoting.

LiteForex constantly strive to improve their services in accordance with the spirit of the time.

As a result, at the end of summer LiteForex have launched a new high-technology user-friendly site with improved design and architecture.

Continue improving service conditions in 2017

The LiteForex company starts the year 2017 with the launch of new client profiles aimed at providing the users of mobile devices with access to the dedicated browser versions.

Most functions of the previous version launched in 2011 were saved and optimized.

The enthusiastic reviews that LiteForex got from their clients confirmed that LiteForex had been moving in the right direction.

In January 2017, the LiteForex broker adds the DotPay.pl payment system into the list of available deposit methods.

DotPay.pl is a certified local Polish payment system for Internet resources that unites over 200 banks within the same API.

In February 2017, the LiteForex broker enlarged the range of provided trading tools, having added stock indexes in CENT accounts.

Also, LiteForex noted their clients’ growing interest in cryptocurrencies and provided the opportunity of topping up trading accounts and withdrawing money in Bitcoin and Litecoin without any fees.

Later the same year, LiteForex added some more cryptocurrencies to their range of trading tools (Bitcoin Gold, Bitcoin Cash, Monero and Ethereum).

In March 2017, LiteForex adds CFDs of the Frankfurt Stock Exchange to its list of trading instruments.

In April 2017, LiteForex opens a new branch office in Warsaw and participates in the biggest financial exhibition of Central and Eastern Europe – FXCuffs.

The two days of presentations, meetings, and lectures by leading Polish and foreign experts were fruitful for them to continue successful work in the European market.

In June 2017, LiteForex launch an application with trading strategies, freely available in App Store and Google Play.

The app embraces various kinds of strategies: with graphic analysis, indicator, no indicator, scalping, martingale, patterns, and many others.

In July 2017, the LiteForex team makes a decision to support the global sport community with the view of popularizing sport and a healthy lifestyle and thus becomes the official sponsor of badminton player Zulfadli Zulkiffli, the winner of many international competitions.

In August 2017, LiteForex provides another deposit method – plastic cards of the China UnionPay system.

This payment system boasts a high transaction security level and issues plastic cards in 42 countries of the world.

In the same summer, LiteForex makes a digital breakthrough as one of the first brokers to add BTC/EUR and BTC/USD currency pairs for trading.

In October 2017, the LiteForex brand became the sponsor of a badminton master class in Malaysia organized for children from 7 to 12 years old and taught by Honoured Master of Sports and worldwide recognized badminton player Zulfadli Zulkiffli.

Finally, following a good old tradition, the end of the year 2017 was marked with the launch of their popular promotion NEW YEAR PROMO endowed with attractive prizes: their global clients could fight for the latest hi-tech Apple products and money prizes.

Also, in December 2017 the LiteForex broker launches a new contest for traders in demo accounts with a monthly prize of $10,000.

The goal of this contest is to provide trading talents with a solid initial capital to allow them to start a successful career as a provider in the copy trading service.

The year 2017 was fruitful and interesting.

The work LiteForex did gave their team the force to reach new achievements and the aspiration for even better work in 2018.

The goal of LiteForex consists in the constant improvement of services and maintaining the highest efficiency for trading in financial markets.

More trading tools and promotions added in 2018

The year 2018 starts with awarding prizes to the winners of the NEW YEAR PROMO.

Clients from Malaysia and Brazil won the main prizes and started the new year on a positive note.

Besides the main winners, money prizes were awarded to 100 LiteForex clients worldwide.

Also, in late January 2018 the LiteForex broker enlarged the range of its trading tools again, adding the following CFDs on the world biggest corporations’ stock: PayPal Holdings Inc (PYPL), NVIDIA Corporation (NVDA), Tesla Inc (TSLA), Starbucks Corporation (SBUX), Pepsico Inc (PEP), Alibaba Group Holding Ltd (BABA), Visa Inc (VISA), Lockheed Martin Corporation (LMT).

The fans of cryptocurrencies enjoyed pleasant bonuses in February 2018.

The fans of cryptocurrencies enjoyed pleasant bonuses in February 2018.

LiteForex launched trading in the unprecedented number of cryptocurrency pairs, such as BCHBTC (BitCoin Cash vs BitCoin), BCHETH (BitCoin Cash vs Ethereum), BCHUSD (BitCoin Cash vs US Dollar), DSHBTC (Dashcoin vs BitCoin), DSHUSD (Dashcoin vs US Dollar), ETCBTC (Ethereum Classic vs BitCoin), ETCUSD (Ethereum Classic vs US Dollar), ETHBTC (Ethereum vs BitCoin), ETHUSD (Ethereum vs US Dollar), ETHLTC (Ethereum vs LiteCoin), LTCBTC (LiteCoin vs BitCoin), LTCUSD (LiteCoin vs US Dollar), XMRBTC (Monero vs BitCoin), XMRUSD (Monero vs US Dollar), XRPUSD (Ripple vs US Dollar), ZECBTC (ZCash vs Bitcoin), and ZECUSD (ZCash vs US Dollar).

Their liquidity providers ensure the best cryptocurrency quotes and fast execution.

What’s more, LiteForex starts granting a 100% bonus on cryptocurrency deposits and runs the demo contest CRYPTOBATTLE endowed with unprecedented weekly prizes of 1.3 BTC.

CRYPTOBATTLE from LiteForex allowed their clients to assess the potential of cryptocurrency tools, perfect their trading skills, get inspired by a competitive spirit, and win a big prize.

Also, LiteForex developed a new design of business cards containing personal QR codes for their partners and official representatives.

It allowed them to conduct more efficient work with referrals.

In winter 2018, LiteForex launches a new application “Mobile Trading” for Android and iOS devices.

The application provides all necessary options for managing client profiles, conducting non-trading operations with accounts and installing mobile platforms.

In April 2018, the access to cryptocurrency pairs becomes round-the-clock, 7 days a week.

In the 2018 first half, LiteForex’s team of IT developers and UX designers had been working on an absolutely new high-tech client profiles whose goal was to perfect the copy trading system, create a powerful mobile browser version yielding nothing to a desktop one, and to introduce the option of online trading right from client profiles without the need to install additional platforms.

LiteForex ensured access to trading in financial markets through a cutting-edge online platform anywhere using any Internet-connected device.

Their developers have created a user-friendly and powerful interface.

Finally, in May 2018 LiteForex presents the absolutely new client profile for Beta Testing.

At the same time, the previous version remains fully operational.

The new version is perfected and updated based on their clients’ reviews and wishes.

In August 2018, LiteForex introduces a new account currency – milli-bitcoin – with the view of minimizing the costs of the clients that conduct financial and trading operations in Bitcoins.

In September 2018, LiteForex’s new client profile is brought to perfection and becomes available to all new and old clients.

The profiles were translated into 14 international languages so that their clients from all across the globe can use the new interface in the language they know.

The new client space has been developed for the clients to:

  • Trade online in a convenient and fast browser terminal in a multitude of trading instruments.
  • Exploit the embedded options of the platform for conducting technical analysis right on the chart.
  • Have comprehensive and up-to-date analytical support when trading in no matter which instrument.
  • Exploit embedded functions for social trading and trade copying.
  • Make fast deposits and withdrawals, based on the data of the trade© portfolio.
  • Chat with traders from all over the world and join information channels for getting the latest thematic articles, signals, and analyses.

In October 2018, the LiteForex broker enlarged again its set of trading instruments, having provided clients with the option of trading in platinum XPTUSD and palladium XPDUSD.

Original Source: LiteForex Official Website

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