How to Deposit and Trade Forex at LiteFinance

How to Deposit Money on LiteFinance

How to Deposit Funds on the LiteFinance Web App

First, you’ll need to log in to the LiteFinance homepage with a registered account.

If you haven’t got a registered account or know how to log in, see this post: How to Register Account on LiteFinance

After logging in, on the homepage screen, direct your attention to the left-hand column of the display and select the "FINANCE" symbol.

In this interface, the system provides a wide array of deposit options. At the recommended methods form, scroll down to see other deposit methods that are currently available (this may vary depending on the country).

Please carefully consider and select the method that best suits your preferences!

Bank Card

There are several key considerations to keep in mind when choosing a bank card as a deposit method:

• Bank cards that belong to third parties will not be accepted and such deposits will be declined.

• You must verify your profile and bank card entirely to withdraw funds using this method. (If you haven’t verified your profile and bank card, see this post: How to Verify Account on LiteFinance)

First, in the initial section of the deposit form, you need to select the trading account you wish to fund. Subsequently, provide essential card details such as:

1. Card number.

2. Holder’s number.

3. Expiry date.

4. CVV.

In the following section, you are required to provide fundamental personal information:

1. Your full name.
2. Date of birth.
3. Phone number.
4. Country of residence.
5. Region.
6. Postcode.
7. Your city.
8. Home address.

In the final section, you must enter the deposit amount (minimum 10 USD) along with the currency. Additionally, you may apply a promo code (if available). Once you have completed all the steps, press "Continue" to proceed to the next step.

Electronic Systems

This method has succinct and convenient aspects as it doesn’t require extensive data entry. Initially, you simply need to select the electronic system you prefer. Here are a few of the available systems:

1. AdvCash
2. Skrill
3. Neteller
4. Perfect Money

When you’ve selected the desired system, similar to the bank card method, you need to input the deposit sum (with a minimum of 10 USD), the trading account, and specify the currency. You also have the option to redeem a promo code if one is accessible. And all that’s left is to click the "Continue" button to complete the process.

A compact window will pop up, showing the details. Please check carefully these fields:

1. The payment method.
2. The account that you wish to deposit.
3. The payment amount.
4. The commission fees.

Once they are all correct, choose "CONFIRM".You will be directed to the chosen electronic system’s website, and please follow the provided instructions to complete the deposit.
 

Cryptocurrencies

You’ll see a list of available deposit methods in the deposit section. Look for "Cryptocurrencies"  and select the cryptocurrency you wish to deposit into your account.

Similar to other methods, first you must choose one trading account in which you want to deposit. Then enter the payment amount (min 10 USD), select the currency, and use the promo code (if available). Having finished them all, click "Continue".

A small window will appear displaying the information. Please follow these steps:

1. Check the amount of money to transfer.
2. Read the notes carefully before transferring.
3. Scan the QR code and follow the instructions to complete the money transfer.
4. Click "CONFIRM" to finish.

Bank Transfer

There are numerous banking options available with this method, so choose the one that best suits your needs to start depositing.

Next, you just need to provide basic information such as:

1. Select the trading account that you wish to deposit.
2. The payment account (a minimum of 250,000 for the currency unit VND).
3. The currency.
4. Enter the promo code (if available).

At the end, click "CONTINUE".

A small window will appear to confirm the provided information. Please double-check the following details:

1. The payment method.
2. The chosen account.
3. The payment amount.
4. The commission fees.
5. The money that you will receive after the process.

If they are all correct, click "CONFIRM" to enter the next deposit interface. 

In the next interface, if you don’t complete the transaction within 30 minutes, the website will automatically refresh, and you’ll need to repeat the previous process.

At the "REMINDER" form, please follow these steps:

1. Read and precisely follow the provided instructions as well as examples to enter the Reference Number.
2. To ensure you grasp the trading process, watch the deposit tutorial video for a better understanding.
3. These are the available trading channels for the method you have chosen.

After ensuring you have a clear understanding of the trading process, select the "Proceed to Payment" button to proceed.

In this step, you will execute the transfer to the designated account displayed on the screen.

Additionally, you can conveniently and quickly transfer funds by selecting the QR Pay transfer method with these simple steps:

1. Select the payment method using the QR code as shown in the image.
2. Utilize the available payment channels displayed on the screen.
3. Scan the QR code on the screen and proceed with the payment as usual.

Remember to take a screenshot of the successful payment screen as it will be required in the next section.

In this final step, you will need to provide some additional necessary information below:

1. Your full name.
2. Your remark (this is an optional field).
3. The receipt screenshot of the successful payment. ( click on the "Browse" button and upload your screenshot).

4. These fields are optional. If you feel comfortable, you can fill them out for quicker approval.

After completing the information submission, select the green button to finish the transaction.

Local Deposit

You can deposit funds into your trading account using the information provided below. LiteFinance’s representative will receive your request and credit your account after you transfer the funds to them.
First, you have to select:

1. The trading account that you wish to deposit.
2. The payment method.
3. The bank account.

Below are the necessary details to use this method:

1. Payment date.
2. Payment time.
3. The currency.
4. The payment amount (min 10 USD).
5. Enter the promo code (if available).

Once you finished, click "CONTINUE".

An immediate small form will appear to confirm that your request has been successfully sent. Please double-check the information on the form once more, and if everything is correct, click "Close" to finish.

How to Deposit Funds on the LiteFinance Mobile App

Open the LiteFinance mobile app on your smartphone or tablet. Log in to your trading account using your registered email and password. If you haven’t got a registered account or know how to log in, see this post: How to Register Account on LiteFinance.

Once you’re logged in, access the "More" interface.

Look for the "Finance" section and tap it. It’s typically located in the main menu or on the dashboard.

In the deposit section, you’ll see various deposit methods. Please choose your preferred method and see the tutorial for each method below.

Bank card

With this method, there are several points that you need to pay attention to (this may vary on different banks) :

• Bank cards that belong to third parties will not be accepted and such deposits will be declined.
• You will have to verify your profile and bank card entirely to withdraw funds using this method (If you haven’t verified your profile and bank card, see this post: How to Verify Account on LiteFinance).

At this step, you need to complete all the required fields such as:

1. The trading account in which you would like to deposit.
2. Payment amount (min 10 USD).
3. The currency.
4. Promo code (if available).
5. Selecting a card is only available for those who deposited at least 1 time before (In other words, the card information has been saved for subsequent deposits).
6. The card number.
7. Holder’s name.
8. Expiry date
9. CVV
10. Tick the box if you want the card information saved for subsequent deposits.

Once you completed all the fields, tap "Continue".

Electronic Systems

LiteFinance offers a variety of electronic payment systems. Therefore, choose your preferred system for the deposit.

To deposit through electronic systems, please follow these 5 simple steps:

1. Select the account that you wish to deposit.
2. Specify the amount you wish to deposit through the chosen electronic payment system.
3. Select the currency.
4. Enter the promo code (if available).

Tap "CONTINUE".

You’ll be redirected to the payment system’s interface. Follow the specific instructions provided by the chosen payment system, which may include logging in to your electronic wallet or providing payment details. Once you’ve entered the required information and confirmed the deposit within the payment system’s interface, proceed with the transaction.

The LiteFinance mobile app will process the transaction. This typically takes a few moments. You may see a confirmation screen indicating that the transaction is being processed. If the transaction is successfully processed, you’ll receive a notification confirming the deposit. The funds will be instantly credited to your LiteFinance trading account.

Cryptocurrencies

There is a wide range of cryptocurrencies for deposits that are available in LiteFinance, you must select a preferred one:

Here are a few things to keep in mind when using this method:

• You will have to verify your profile fully to withdraw funds using this method.
• Only TRC20 tokens are accepted.
• You must send funds within 2 hours otherwise the deposit will not be credited automatically.

Please follow these steps to deposit with cryptocurrencies:

1. Choose the account you want to make a deposit.
2. Indicate the sum you intend to deposit using the selected electronic payment method.
3. Pick the preferred currency.
4. Input a promotional code (if one is applicable).
5. Click on "CONTINUE".

The app will provide you with a unique deposit address for the selected cryptocurrency. This address is crucial for your transaction to be correctly credited to your trading account. Copy the address to your clipboard or note it down. Then open your cryptocurrency wallet, whether it’s a software wallet or an exchange wallet. Initiate a transfer (send) of the desired amount to the deposit address provided by LiteFinance.

After initiating the transfer, double-check the details, including the deposit address and the amount you’re sending. Confirm the transaction within your cryptocurrency wallet. Cryptocurrency transactions may require confirmation on the blockchain network. The time this takes can vary depending on the cryptocurrency but typically ranges from a few minutes to a few hours. Be patient while waiting for confirmation.

Bank Transfer

Here, we also have the option to choose from a variety of bank transfer channels (which may vary by country). Hence, please select the one that suits you best.

Once you’ve made your selection, you’ll need to provide the payment details to proceed to move to the next deposit interface. These details consist of:

1. The trading account in which you would like to deposit.
2. Payment amount (min 250000 VND or its equivalent in other currencies.).
3. The currency.
4. Promo code (if available).

Then select "CONTINUE" to proceed to the next step.

The system will display a form to confirm the information you’ve just entered; please double-check to ensure its accuracy. Then, select "CONFIRM" to proceed to the money transfer step

At this interface, the first thing you need to do is to carefully review the instructions in the "REMINDER" form to avoid regrettable mistakes when performing the money transfer. Once you understand how to make the transfer, select the "Proceed to Payment" button to continue.

In this stage, you will carry out the transfer to the specified account presented on the screen.

Furthermore, you can easily and swiftly transfer funds by opting for the QR Pay transfer method with these straightforward instructions:

1. Choose the payment method by scanning the QR code depicted in the image.
2. Make use of the payment options visible on the screen.
3. Scan the QR code displayed on the screen and complete the payment as usual.

Don’t forget to capture a screenshot of the successful payment screen, as it will be needed in the subsequent section.

In this last phase, you will be required to furnish some supplementary essential details as follows:

1. Your complete name.
2. Your comment (note that this is an optional field).
3. The screenshot of the successful payment receipt (simply tap "Browse" to upload your screenshot).

These steps are optional. If you feel there are no concerns, you can provide this information to receive faster approval.

4. Your bank name.
5. Your bank account name.
6. Your bank account number.

Lastly, double-check whether the information you provided is accurate or not. Then, select "I Paid" and you’ve completed the money transfer process.

Local Deposit

First, select the available one in your country.

These are essential payment details to make a payment:

1. The trading account that you wish to deposit.
2. The payment amount (min 10 USD  or its equivalent in other currencies).
3. The currency.
4. The promo code (if available).
5. The payment method (via a bank account or in cash).
6. Select the bank available for this method in your country.

In addition to the above information, there are a few more details you should notice:

1. Please provide the system with the exact time you prefer to deposit to receive the best service.
2. Pay attention to the exchange rates and commission when performing the deposit process.
3. The contact information for the support department in case of any issues.

Make sure you fully understand the information, then select the "CONTINUE" button.

Finally, you will receive a notification that your deposit request has been successfully submitted. You can deposit to your trading account using the information provided below. A representative from the system will receive the request and credit it to your account as soon as you transfer the funds to them.

How to Trade Forex on LiteFinance

How to Login to LiteFinance MT4 Terminal

The initial step is to access the LiteFinance homepage using a registered account. Then choose the tab "METATRADER" (If you haven’t registered an account or are unsure about the login process, you can refer to the following post for guidance: How to Login to LiteFinance).

Next, select the trading account that you wish to use to be the main account. If the selected account is not the main account, click the text "Turn into main" in the same row as the selected account.
Scroll up with your mouse, and here, you will find some important information you need for logging in:

1. The server login number.
2. The server to log in.
3. The name is shown in the terminal.
4. The trader’s password to log in.

For the password section, click on the "edit" button next to the password field to change your password to meet the system’s requirements. After you’ve completed that, click "Save".

In the next step, you will proceed with the download and launch the LiteFinance MT4 Terminal by clicking on the "DOWNLOAD TERMINAL" button.

After running the terminal, please select the "File" menu at the top left corner of the screen. 
Continue by selecting "Login to Trade Account" to open the login form.

In this form, you will need to provide some information from the selected trading account in the previous step to log in:

1. In the first blank from the top, enter your "SERVER LOGIN" number.
2. Enter the password that you created from the previous step.
3. Select the trading server that the system shows in the trading account settings.

How to place a New Order on LiteFinance MT4

First, you need to select the asset and access its chart.

To view the Market Watch, you can either go to the "View" menu and click on Market Watch or use the shortcut Ctrl+M. In this section, a list of symbols is displayed. To display the complete list, you can right-click within the window and choose "Show all". If you prefer to add a specific set of instruments to the Market Watch, you can do so by using the "Symbols" drop-down menu.

To load a specific asset, like a currency pair, onto a price chart, click once on the pair. After selecting it, click and hold your mouse button, drag it to the desired location, and release the button.

For opening a trade, first, select the "New Order" menu option or click on the corresponding symbol in the standard toolbar.

A window will appear immediately, containing settings to help you place orders more precisely and easily:

• Symbol: Ensure that the currency symbol you want to trade is visible in the symbol box.
• Volume: You need to determine the contract size by either selecting it from the available options in the dropdown menu after clicking the arrow or by manually inputting the desired value in the volume box. Remember that the size of your contract directly impacts the potential profit or loss.
• Comment: This section is optional, but you can utilize it to annotate your trades for identification purposes.
• Type: This is configured as market execution by default including Market Execution (involves executing orders at the current market price) and Pending Order (employed to establish a future price at which you plan to initiate your trade).

Lastly, you must determine the type of order you want to initiate, offering the choice between a sell or buy order.

• Sell by Market: These orders commence at the bid price and conclude at the ask price. With this order type, your trade has the potential to generate a profit when the price declines.
• Buy by Market: These orders begin at the ask price and finish at the bid price. With this order type, your trade can be profitable if the price rises.

As soon as you select either Buy or Sell, your order will be promptly executed, and you can verify it in the Trade Terminal.

How to place a Pending Order on LiteFinance MT4

Type of pending orders

In contrast to immediate execution orders, which are executed at the current market price, pending orders enable you to place orders that activate once the price reaches a specific level defined by you. There are four types of pending orders, but we can categorize them into two main types:

• Orders expecting to break a certain market level.
• Orders are expected to bounce back from a certain market level.

Buy Stop

The Buy Stop order enables you to place a purchase order at a price higher than the current market rate. For instance, if the present market price is $500, and your Buy Stop is set at $570, a buying or long position will be initiated when the market reaches this price point.

Sell Stop

The Sell Stop order provides the option to place a selling order at a price lower than the current market rate. For example, if the current market price stands at $800, and your Sell Stop price is fixed at $750, a selling or ’short’ position will be activated when the market attains that particular price point.

Buy Limit

The Buy Limit order is essentially the inverse of a buy stop. It permits you to establish a buy order at a price lower than the prevailing market rate. To illustrate, if the current market price stands at $2000 and your Buy Limit price is set at $1600, a buy position will be initiated when the market attains the $1600 price level.

Sell Limit
Ultimately, the Sell Limit order empowers you to establish a sell order at a price higher than the prevailing market rate. To be more specific, if the current market price is $500, and your Sell Limit price is $850, a sell position will be initiated when the market reaches the $850 price level.

How to Open Pending Orders in LiteFinance MT4 Terminal

To create a new pending order, you can easily double-click the market name in the Market Watch module. This action will launch the new order window, allowing you to modify the order type to Pending Order.

Subsequently, designate the market level at which the pending order will trigger. You should also determine the position size according to the volume.

If needed, you can establish an expiration date (Expiry). After configuring all these parameters, choose your preferred order type based on whether you intend to go long or short, and whether it’s a stop or limit order. Finally, select the "Place" button to confirm.

Pending orders offer significant advantages within MT4. They prove especially valuable when you cannot keep a constant eye on the market to pinpoint your entry, or when an instrument’s price experiences rapid fluctuations, ensuring you don’t miss out on promising opportunities.

How to Close Orders on LiteFinance MT4 Terminal

Here, we have two incredibly simple and quick ways to close orders, which are:

1. To close an active trade, select the "X" located in the Trade Tab within the Terminal window

2. Alternatively, you can right-click on the order line displayed on the chart and choose "close" to close the position.

In LiteFinance’s MT4 terminal, opening and closing orders are remarkably swift and user-friendly processes. With just a few clicks, traders can execute orders efficiently and without unnecessary delays. The platform’s intuitive design ensures that market entry and exit are both quick and convenient, making it an ideal choice for traders who need to act promptly and seize opportunities as they arise.

Using Stop Loss, Take Profit, and Trailing Stop on LiteFinance MT4

A crucial aspect of ensuring lasting success in financial markets is the practice of careful risk management. This is why incorporating stop-loss and take-profit orders into your trading strategy is of paramount importance. In the following discussion, we’ll delve into the practical implementation of these risk management tools within the MT4 platform. By mastering the use of stop losses and take profits, you’ll not only learn how to mitigate potential losses but also how to optimize your trading capabilities, ultimately enhancing your overall trading experience.

Setting Stop Loss and Take Profit

One of the most straightforward methods to incorporate Stop Loss and Take Profit in your trades is to set them immediately when you initiate new orders. This approach allows you to establish risk management parameters as you enter the market, enhancing control over your positions and potential outcomes.

You can achieve this by simply entering your desired price levels in the Stop Loss and Take Profit fields. Keep in mind that a Stop Loss automatically triggers when the market moves unfavorably for your position, serving as a protective measure, while Take Profit levels are executed once the price reaches your predetermined profit target. This flexibility enables you to set your Stop Loss level below the current market price and your Take Profit level above it.

It’s important to note that Stop Loss (SL) and Take Profit (TP) are always linked to an active position or a pending order. You have the option to adjust them once your trade is live and you are monitoring market conditions. While they are not obligatory when opening a new position, it’s highly advisable to use them to safeguard your positions.

Adding Stop Loss and Take Profit Levels

The most straightforward method for incorporating Stop Loss (SL) and Take Profit (TP) levels to your existing position involves using a trade line on the chart. You can achieve this by merely dragging the trade line to a specific level either upwards or downwards.

After inputting your Stop Loss (SL) and Take Profit (TP) levels, the corresponding SL/TP lines will become visible on the chart. This feature allows for easy and efficient adjustments to the SL/TP levels.

You can also perform these actions using the "Terminal" module at the bottom of the platform. To add or modify SL/TP levels, you can right-click on your open position or pending order and select the "Modify/ Delete order" option.

The order modification window will open, giving you the ability to input or adjust your Stop Loss (SL) and Take Profit (TP) levels either by specifying the exact market price or by defining the point range from the current market price.

Trailing Stop

Stop Loss orders are primarily used to limit potential losses when the market moves against your position, but they also offer a clever way to secure your profits. This concept may initially seem counterintuitive, but it’s quite straightforward.

Imagine you’ve entered a long position, and the market is currently moving in your favor, resulting in a profitable trade. Your original Stop Loss, initially set below your entry price, can now be adjusted to your entry price (to break even) or even above it (to lock in a profit).

For an automated approach to this process, a Trailing Stop comes in handy. This tool is invaluable for effective risk management, especially in situations where prices fluctuate rapidly or when you’re unable to constantly monitor the market.

With a Trailing Stop in place, as soon as your position becomes profitable, it will automatically track the market price, preserving the established distance between them.

In line with the previous example, it’s crucial to understand that your trade must already be in a sufficiently profitable position for the Trailing Stop to move above your entry price to secure your profit.

Trailing Stops (TS) are linked to your active positions, and it’s essential to note that for a Trailing Stop on MT4 to function correctly, you must keep the trading platform open.

To configure a Trailing Stop, simply right-click on your open position in the "Terminal" window and indicate your preferred pip value as the gap between the Take Profit level and the current market price in the Trailing Stop menu.

Your Trailing Stop is now active, meaning that if prices move in a profitable direction, the Trailing Stop will automatically adjust the stop loss level to follow the price.

To deactivate your Trailing Stop, you can simply select "None" in the Trailing Stop menu. If you wish to disable it across all open positions, you can choose "Delete All".

As you can observe, MT4 offers various methods to safeguard your positions swiftly.

It’s important to note that while Stop Loss orders are a highly effective means of managing risk and limiting potential losses, they do not offer absolute security. While they are free and provide protection against adverse market movements, they cannot guarantee your position under all circumstances. In cases of sudden market volatility or price gaps beyond your stop level (when the market jumps from one price to the next without trading at the levels in between), your position may be closed at a less favorable level than initially specified. This phenomenon is known as price slippage.

For enhanced security against slippage, you can opt for guaranteed stop losses, which ensure that your position is closed at the specified Stop Loss level, even if the market moves against you. Guaranteed stop losses are available at no additional cost with a basic account.

LiteFinance: Empowering Your Trades, One Deposit at a Time – Trade Smarter, Trade Bolder!

LiteFinance, your gateway to the world of Forex trading, not only simplifies the deposit process but transforms your trading experience. Depositing funds becomes a seamless endeavor, allowing you to focus on what truly matters – executing strategic trades. With LiteFinance, your deposited funds pave the way for strategic maneuvers in the Forex market. The platform’s user-friendly interface and robust features empower you to make informed decisions, ensuring a dynamic and rewarding trading journey. So, dive into the exciting world of Forex trading with LiteFinance, where your deposits are not just transactions but the keys to unlocking the potential of your trades. Trade smarter, trade bolder with LiteFinance!