Looking to read LiteGraphs reviews, you are in the right place. Should you trade with LiteGraphs.com? Read reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is LiteGraphs?
LiteGraphs FX otherwise known as LiteGraphs.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims registered address in Brussels, Belgium.
LiteGraphs offers different account types for traders. According to the account description, the broker offers a leverage capped 1:400 and a spread of 2 pips.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
What We Discovered about LiteGraphs.com Regulation
First of, LiteGraphs.com claims its based in Belgium. However, nowhere is the name of this company mentioned. We were not surprised when the broker’s Terms and Conditions do not inform us which legal entity.
A check of the Belgian Financial Services and Markets Authority registry confirmed our conviction that there is no authorized broker using the LiteGraphs trade name or domain. Take a look yourself —
Furthermore, this broker does not offer money back guarantee which means trading on such platform is clearly putting your funds at a risk of scam.
These drawbacks are for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
LiteGraphs Minimum Deposit for Traders
The broker LiteGraphs FX does not specify its minimum deposit. In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
LiteGraphs still keeps us in the dark with its payment methods.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
LiteGraphs Provides What Trading Software?
LiteGraphs claims to offer web trading software. The platform comes with some basic tools and custom indicators but nothing more advanced.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an illegitimate forex broker like this one because you stand the chance of losing your money.
LiteGraphs Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that LiteGraphs.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
LiteGraphs located at LiteGraphs.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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