What is Litefinance and What Are Its Complicated Schemes?
Investment scams are aplenty in today’s digital economy, and Litefinance stands out as one of the most sophisticated swindles of the digital age. It is a foreign exchange trading platform developed to bring innocent traders to a boiling point of frustration and despair. This platform is a wolf in sheep’s clothing as it lures traders with attractive yet fictitious profits before taking them for a wild ride with its complicated forex schemes.
Litefinance’s most common scheme involves the trade being conducted inside its own market. A trader deposits a large sum of money, ostensibly for forex trading. The firm then takes control of the money and decides how it should be used. It is usually done via leverage and margin trading. The trader is promised exaggerated returns but not asked to perform any forecasting and risk management techniques. Unfortunately, most traders find out the hard way that all the returns promised by the firm fail to materialize, and they are left with empty pockets.
Litefinance’s Use of the Forex Market to Trick Traders
Litefinance has found a way to leverage the forex market to dupe traders into believing they can make huge returns. To achieve this, it forms a complex web of schemes which leads unsuspecting traders into a maze of uncertainty. The platform uses different methods of market manipulation, such as high-frequency trading, news manipulation, and fake price movements, to create an illusion of profitable trading. The firm also offers to matching services to facilitate high-risk trades on its own market.
This market manipulation is carried out through the use of algorithms which can keep trading activities under the radar, allowing the firm to go undetected for some time. This is one of the biggest advantages that the firm enjoys, and it’s how they are able to remain in operation even after they’ve been caught in the act.
Legality of Litefinance and Protecting Yourself from Such Scams
It is illegal to operate a forex brokerage under the FEMA Act of 1999. The Act prohibits trading in Margin products, including Forex, through overseas brokers. Operating a scam like Litefinance puts the trader at the risk of being penalised for engaging in unauthorised foreign inflated investments.
If you’re looking into signing up for a forex platform, it is important to be aware of the legal limitations and risks involved with them. Doing your due diligence before investing is essential to protect yourself from being scammed. Checking with the regulatory body of the country before signing up is important. It is also important to check reviews and ratings of the forex platform before investing.
It is difficult to trust any forex firm in today’s market. The prevalence of scams has reached such a level that no one can be sure if a firm is genuine or not. But with the right kind of awareness and due diligence, it is possible to stay safe and avoid being duped by a scam.
What is litefinance.org?
Litefinance.org is an online broker that allows users to make investments in the Forex market. It is an unregulated broker, meaning it does not abide by the regulations of any official financial institutions. Because of this, the company can offer investors more competitive rates on their investments. Litefinance.org utilizes a unique system for trading, called the ECN market. It is a type of system that allows for automated trading. This system is accessible to all users on the platform. This makes it a great place to start trading if you are new to the Forex market.
Is Litefinance.org safe?
Apart from being unregulated, Litefinance.org has quite an impressive security system in place for all transactions but the fees associated with them may be quite high. Traders should be aware of this if they plan to use this broker. The website also boasts several safety features such as SSL encryption to secure user data and an international Anti-Money Laundering manpower for all transactions. Litefinance.org has never been found to be involved in any fraud or money laundering activities.
Features of Litefinance.org
One of the best features of Litefinance.org is its ECN marketplace. This allows for automated and manual trading for its traders and customers. Through the ECN market, traders can access the market from anywhere in the world. Litefinance.org also offers investors an almost 2.5% interest rate on the funds in their accounts. This is in comparison to the industry standard of around 0.5%. In addition to this, traders are able to trade in the foreign exchange market without any restrictions or limitations on the amounts they wish to withdraw or deposit.
Litefinance.org is suitable for professional traders only. It is not meant for beginning traders as the costs associated to using the platform can be quite high and traders need to be aware of this before making any investments or trading.
Overall, the Litefinance.org scam review shows us that it is a legitimate online forex trading platform. Although they are not regulated and fees are high, they appear to have a sound security system and offer traders some great features such as automated and manual trading, a high interest rate and no restrictions on withdrawals and deposits.
