Litesfxtrade Review

The increasing popularity of crypto trading has increased the number of online brokerages like Litesfxtrades in the market, making it more difficult to choose an appropriate one for your trading career as many of them are fraudulent. This Litesfxtrade review will help you in avoiding the scammers as this broker is a huge fraud that claims everything but provides nothing. Here we have discussed it in detail. Continue reading to learn more!

It is an Anonymous Broker

You should research a brokerage firm before opening an account with them. They’ll be in charge of your money and a lot of your personal information, so you need to figure out their identity. It’s not a good idea to put your trust in any company via the internet since we all know scams happen, and you don’t want to be a target. As a result, you should investigate Litesfxtrade and learn more about the company. As a result, it will become clear soon that their site is anonymous.

If you go to the Litesfxtrade website’s contact section, you will notice that there is no information available. They haven’t provided any business information or, for that matter, any corporate background. All you’ll find is an email and an unusual phone number, which won’t help you much because you don’t know much about the company and won’t be able to contact them if something goes wrong.

No License

Checking if they have a license and can provide their services is one of the greatest ways to determine if you are working with a trustworthy and authentic brokerage. Most professional firms will obtain a license in the area in which they operate, and they will have no trouble doing so because they are legitimate. Scam brokers are almost always unlicensed, as this allows them to just depart without fear of being held responsible for their activities.

You will not discover a single reference of any form of license or authorization in the complete presentation provided on the Litesfxtrade website. Even if the company provided a post box address, you should be wary since they will not be able to give you the same level of security that a licensed and regulated broker can. Yes, Litesfxtrade promises to provide fund security, but you can’t trust them because they’re unregulated.

Lack of Trading Platform

The trading platform is the most important tool provided by an online broker as it links you to the financial marketplaces and provides you with the tools as well as other features you require for your trading trip. To summarise, it is a critical feature without which trading in the market is not possible. According to Litesfxtrade’s promises, they provide a user-friendly and competent trading platform, and you should investigate its potential.

When you choose to do so, you will be surprised to see that Litesfxtrade does not offer a trading platform of any kind. Why wouldn’t an internet broker offer a trading platform if it’s their main selling point? This proves that the broker is a scam and has no plan of supplying you with any kind of services, as they would have established a platform if they did. Professional and trustworthy brokers often provide the MT4, MT5, or cTrader platforms, however, none of these are offered here.

It Requests Bitcoin Payments

You should always check a broker’s payment methods as you want to make deposits and withdrawals quickly. You want secure payment alternatives as well as ones that are simple to use. A peek at Litesfxtrade’s payment choices reveals that the broker exclusively accepts bitcoin payments. This may give the impression that it is a modern brokerage, but please remember that crypto payment is permanent and irreversible. You won’t be able to get them back, unlike credit cards, which allow you to file a chargeback if something goes wrong.

Conclusion

When you evaluate the broker’s issues and the holes in the details, you’ll realize that Litesfxtrade is definitely not a brokerage you can trust and that you should hunt for another platform.