LiteForex Pro claims that it is a reliable online trading platform that has been tested by millions of traders from all over the world. In reality, LiteForex Pro is nothing more than a clone website, a particularly dangerous type of scam in which scammers fraudulently use the corporate and license details of a legitimate business in an apparent attempt to scam traders. Read this complete LiteForex Pro review to know more about the LiteForex Pro scam.
Website – www.liteforexpros.com
Address – NA
Warned By – Financial Conduct Authority (United Kingdom)
Regulation
The trader LiteForex Pro states that it works with three distinct firms: 1832 Asset Management L.P. in Canada, Cryptopay Limited in the UK, and Agenta Investment Management AB in Sweden. They assert that they have licenses from the Canadian Securities Administrators, UK FCA, and the Swedish FI based on this claimed cooperation.
A comprehensive investigation revealed no relationships between LiteForex Pro and these three businesses.
The Financial Conduct Authority (FCA) in the UK recently placed LiteForex Pro on its blacklist for allegedly targeting consumers in the nation. LiteForex Pro is nothing more than a clone website.
Trading Software
We were unable to reach the web-based trading software that LiteForex Pro claims to have. To do this, we had to register, but without a reference number, registrations were impossible. As a result, we are unable to show you what the LiteForexPro platform looks like. In any case, the broker has been revealed as a scam, so stay away from it at all costs.
Trading Accounts
LiteForex Pro claims to offer several types of trading accounts to its users:
- Bronze – minimum deposit is 10,000 EUR
- Silver – minimum deposit is 25,000 EUR
- Gold – minimum deposit is 50,000 EUR
- Platinum – minimum deposit is 100,000 EUR
- Diamond – minimum deposit is 250,000 EUR
- Premium – minimum deposit is 500,000 EUR
- VIP – minimum deposit is 1,000,000 EUR
The minimum deposit for the bronze account is 10,000 EUR which is very high because legitimate brokers offer a minimum deposit amount is $100.
Trading Conditions
There are no documented trading conditions. As you are already aware, we were unable to access the trading platform to review the terms, and to make matters worse, LiteForex Pro offers absolutely no information regarding spreads (trading expenses) and leverage. Only the asset classes accessible for trading—Forex and cryptocurrencies—are mentioned, and even this information cannot be verified.
Deposit and Withdrawal Method
Credit/debit cards, wire transfers, Skrill, and Neteller are listed as the purported financing options, but this information is also unreliable. Skrill and Neteller place a high priority on security, so we are quite skeptical about it. As a result, we firmly reject the idea that these well-known wallets will ever work with shady brokers like LiteForex Pro.
Conclusion
Enverracapital has years of expertise supporting clients who have been the victims of financial fraud. Let us know if you were the victim of the LiteForex Pro fraud. Contact us to schedule a free consultation with one of our legal professionals. We’ll determine the best course of action for getting what is properly yours back.
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