LiteFinance FAQ

Client’s Profile

How to Check Trading History

There are several methods for viewing your trading history. Let’s examine these options:

1. From the Finance Homepage: Your complete trading history is available on your Finance Homepage. To reach it, follow these instructions:

• Login to LiteFinance via your registered account.
• Select the Finance symbol on the vertical sidebar.
• Choose the account you wish to view, and then proceed by selecting the "History of Transfers" section to check the transaction history.

2. From your daily/monthly notification: LiteFinance sends account statements to your email on a daily and monthly basis, unless you have opted out. These statements provide the trading history of your accounts and are accessible through your monthly or daily statements.
3. By contacting the Support Team: you can request account history statements for your real accounts. Simply send an email or initiate a chat, providing your account number and secret word as identification.

What documents does the LiteFinance accept for verification?

The documents confirming identity shall be issued by a legal government agency and shall contain a photo of the Client. It can be the first page of an internal or international passport or a driving license. The document shall be valid for at least 6 months from the date of completing the application. Each document shall specify validity dates.

The document confirming your residential address can be the page of your passport indicating your residential address (in case the first page of your passport was used to confirm identity, both pages shall have a serial number). A residential address can be confirmed with a utility bill containing the full name and actual address. The bill shall be not older than three months. As proof of address, the Company also accepts bills from internationally recognized organizations, affidavits, or bank statements (mobile phone bills are not accepted).

These must be easy-to-read color copies or photos uploaded as JPG, PDF, or PNG. The maximum file size is 15 MB.

What is a demo mode?

The demo mode allows you to evaluate the features of the copy trading platform without the need for registration or the input of a personal email or phone number. However, it’s important to note that you won’t be able to save your trading activity in the demo mode, and most of the platform’s options will not be accessible. To fully utilize the capabilities of the Client Profile, registration is necessary. Additionally, registered clients who haven’t logged into their Profiles will be limited to the demo mode. Full access to the Client Profile’s features is contingent on logging in.

To switch between these 2 modes, click on your name in the upper line of the Client Profile and press the corresponding button.

Financial Questions - Deposits - Withdrawals

How do I start trading in financial markets?

To initiate your trading activities, you need to log in to your Client profile and activate the real trading mode, which can be switched at your discretion. Afterward, proceed to fund your main account by navigating to the "Finance" section. On the left dashboard, access the Trade section and select your preferred trading assets from options such as Currencies, cryptocurrencies, commodities, NYSE stocks, NASDAQ stocks, EU stocks, and stock indexes. Subsequently, choose a specific trading instrument, which will prompt the download of its price chart onto the page. To the right of the chart, you’ll find the menu for initiating buy or sell trades. Once a trade is opened, it will be displayed in the lower panel labeled "Portfolio". You can conveniently locate and make adjustments to all your active trades through the Portfolio section.

How to transfer money from one account to another?

If all the accounts are under your ownership and are associated with the same Profile, the transfer of funds between different trading accounts can be executed automatically within the Client Profile, specifically within the "Metatrader" section. Clients are empowered to perform this transaction independently, without requiring the assistance of the Company’s Financial Department. Funds are swiftly moved from one account to another, and it’s worth noting that the maximum number of internal transfers allowed per day is restricted to 50 operations.

Where can I find the deposit exchange rate for my national currency?

If you have the option to make a deposit in your country’s national currency through a local representative, you can access the current exchange rates and commission details in the ’Finance/Local Deposit’ section within your Client Profile. Simply input the deposit amount in your local currency into the ’Payment amount’ field, and the resulting deposit amount into your account will be displayed below.

If the deposit currency differs from the currency used for the transfer payment, your bank’s applicable exchange rate for the bank transfer in your country’s currency will be utilized. Consequently, the calculated deposit amount into your account will be based on the prevailing exchange rate.

Following your deposit, the company automatically reimburses any payment system commissions directly to your trading account balance.

Accounts 

What is the difference between a demo account and a live account?

A demo account serves as an excellent tool for acquiring Clients in the Forex market. It does not necessitate any initial deposits; however, any profits obtained from trading activities cannot be withdrawn. The working conditions within demo accounts closely mirror those of live accounts, encompassing identical transaction procedures, rules for quote requests, and parameters for initiating positions.

How to recover the password from a demo account?

If you’ve created your demo account through your Client Profile (your personal profile with LiteFinance), you have the option for automatic password changes. To update your trader’s password, please log in to your Client Profile, navigate to the "Metatrader" section, and click on "edit" in the "Password" column for the respective account. Enter the new password twice in the provided window. You do not need to know your current trader’s password for this process.

Additionally, when you open a new account, an email is always sent to your email address, containing the account login and password.

However, if you’ve created your demo account directly through the trading terminal and the email containing your registration data has been deleted, you will need to create a new demo account. Passwords for demo accounts that were not opened through your Client Profile cannot be recovered or changed.

What is ISLAMIC ACCOUNT (SWAP-FREE)?

ISLAMIC ACCOUNT is an account that doesn’t charge fees for carrying over open positions to the next day. This type of account is intended for those clients who are not allowed to conduct monetary operations involving interest payments owing to their religious beliefs. Another widely-spread name for this type of account is "swap-free account".

Trading Terminal Questions

What kind of trading platforms does the LiteFinance Company provide?

At the moment, there are three terminals available for trading both on the demo server and the real accounts: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the web terminal in the Client’s Profile that allows you to operate with any type of account.

Besides a basic terminal for a Windows-based personal computer, we offer terminals for Android, iPhones, and iPads. You can download any version of the terminal. The Web terminal located in LiteFinance’s Client Profile is adapted to any type of device and can be opened in a browser both on the computer and mobile devices.

What are "Stop loss" (S/L) and "Take profit" (T/P)?

Stop Loss is used for minimizing losses if the security price has started to move in an unprofitable direction. If the security price reaches this level, the position will be closed automatically. Such orders are always connected with an open position or a pending order. The terminal checks long positions with Bid price to meet this order provisions (the order is always set below the current Bid price), and it does so with Ask price for short positions (the order is always set above the current Ask price). Take Profit order is intended for gaining profit when the security price has reached a certain level. Execution of this order results in the closing of the position. It is always connected with an open position or a pending order. The order can be requested only together with a market or a pending order. The terminal checks long positions with the Bid price for meeting this order provisions (the order is always set above the current Bid price), and it checks short positions with the Ask price (the order is always set below the current Ask price). For example: When we open a long position (Buy order) we open it at the Ask price and close it at the Bid price. In such cases, an S/L order can be placed below the Bid price, while a T/P can be placed above the Ask price. When we open a short position (Sell order) we open it at the Bid price and close it at the Ask price. In this case, an S/L order can be placed above the Ask price, while a T/P can be placed below the Bid price. Let us suppose that we want to buy 1.0 lots in EUR/USD. We request a new order and see a quote Bid/Ask. We select the relevant currency pair and the number of lots, set S/L and T/P (if required), and click on Buy. We bought at the Ask price of 1.2453, respectively, The Bid price at that moment was 1.2450 (spread is 3 pips). S/L can be placed below 1.2450. Let’s place it at 1.2400, which means that as soon as the Bid reaches 1.2400, the position will be automatically closed with 53 pips loss. T/P can be placed above 1.2453. If we set it at 1.2500, it will mean that as soon as the Bid reaches 1.2500, the position will be automatically closed with a profit of 47 pips.

What are "Stop" and "Limit" pending orders? How do they work?

These are orders which will trigger when the quote reaches the price, specified in the order. Limit orders (Buy Limit / Sell Limit) are executed only when the market is traded at the price specified in the order or at a higher price. The Buy Limit is placed below the market price, while the Sell Limit is placed above the market price. Stop orders (Buy Stop / Sell Stop) are executed only when the market is traded at the price specified in the order or at a lower price. The Buy Stop is placed above the market price, while the Sell Stop - is below the market price.

Affiliate-programs related questions

How to get a part of the Trader’s profit via affiliate programs?

Traders are clients of the company whose accounts appear in the ranking and are available for copying. Regardless of the affiliate program chosen, you can get a part of the Trader’s profits if your referral copies the trades of the Trader and the Trader has set a percentage of profits to be paid to the partner of the referral.

For example, your referral starts copying and the Trader gets a 100 USD profit. If the Trader has set the commission for the Copy Trader’s partner at 10% of the profit, then in addition to the standard commission from the referral as part of the affiliate program you have chosen, you will get an additional 10 USD from the Trader.

Attention! This type of commission is paid by the Trader, not the company. There is no way we can influence the trader’s decision to appoint a specific commission rate to you.

You can discuss the terms of cooperation with each Trader by clicking on the "Write a message" button on the "Info about trader" page.

Where do I get banners and landing pages?

They will become available to you immediately after creating a campaign. You can find them in the "Promo" tab in the affiliate menu. Note that you can use banners in conjunction with landing pages. For example, a person who clicks on a banner with a stock trading advertisement will first be forwarded to the landing page, where he will be presented with the advantages of such trading and a schedule of growth for the shares. This will increase the chance of the visitor completing the registration and becoming your referral.

How can I withdraw the money I have earned?

Affiliate commission can be withdrawn through any method displayed in the "Affiliate program" section. Withdrawal requests are processed by the company’s regulations. Please, remember that withdrawal through bank transfer may be used solely in case the withdrawal amount exceeds 500 USD.

The cTrader terminal

What is a cTrader ID (cTID), and how to create one?

A cTrader ID (cTID) is sent to your email linked to the Client Profile at LiteFinance upon creating your first cTrader account. A cTID provides access to all your LiteFinance cTrader accounts, real and demo, with a single login and password.

Note that a cTID is provided by the Spotware Systems company and cannot be used to sign in to the Client Profile at LiteFinance.

How do I open a new trade-in LiteFinance cTrader?

To open a new trading order, activate the chart of the desired asset and press F9 or right-click on the asset on the left side of the platform and click "New Order"

You can also activate the QuickTrade option in the settings and open market orders in one or two clicks. 

How do I enable one-click or two-click trading?

Open "Settings" in the bottom left corner of the screen and select QuickTrade. You can pick one of the following options: Single-click, Double-click, or no QuickTrade.

If the QuickTrade option is disabled, you must confirm each of your actions in the pop-up window. Also, use the QuickTrade feature to set default Stop Loss and Take Profit orders and configure any other order types.