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Score

1.43 /10
Danger

LiteGap

China

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://litegap.com

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Score

Regulatory Index0.00

Business Index6.38

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

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Warning

PL KNF
2023-04-28
Notification of suspected criminal offence punishable under Article 178 of the Act on trading in financial instruments (engaging in activities in the field of trading in financial instruments without the required authorisation or power of attorney)
LiteGap

Warning

EE FSA
2022-02-02
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Danger

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2021-10-04
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Broker Information

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Company Name

LiteGap

Company Abbreviation

LiteGap

Platform registered country and region

China

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2025-01-09
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

LiteGap · Company summary

Note: LiteGap's official website - https://litegap.com/ is currently inaccessible normally.

LiteGap Review Summary
Founded/
Registered Country/RegionChina
RegulationNot regulated
Market InstrumentsForex
Demo Account✅
LeverageUp to 1:400
EUR/USD Spread3 pips
Trading PlatformWeb, MT4, MT5
Min Deposit$250
Customer SupportTel: +48722761113
Email: support@litegap.com

LiteGap is an unregulated broker registered in China, specializing in forex trading with leverage up to 1:400 via the MT4, MT5 and Web trading platforms. The minimum deposit requirement to open a live account is as high as 250 USD.

Pros and Cons

Pros Cons
Demo accountsUnavailable website
MT4/5 platformNot regulated
Limited trading asset classes
Wide spreads
Various fees charged
High minimum deposit
Only support credit card payments

Is LiteGap Legit?

No, LiteGap is currently an unregulated broker, which means that the safety of clients' funds and trading activities on the LiteGap platform are not protected in any way compared to those brokers that are strictly regulated.

No license

What Can I Trade on LiteGap?

Tradable Instruments Supported
Forex ✔
Commodities ❌
Indices❌
Stocks ❌
Cryptocurrencies❌
Bonds ❌
Options ❌
ETFs❌

Leverage

A leverage ratio of up to 1:400 is offered by LiteGap, which is much higher than that provided by most brokers. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.

Spread

As tested on the demo web account of LiteGap, the spread on the benchmark EUR/USD pair was as high as 3 pips, which is much higher than most brokers offer.

Trading Platform

Trading PlatformSupported Available Devices Suitable for
Web platform✔Web/
MT4✔Web, Desktop, MobileBeginners
MT5✔Web, Desktop, MobileExperienced traders
Web platform

Deposit and Withdrawal

LiteGap accepts credit cards only.

The minimum initial deposit requirement is $250.

The broker also charges the withdrawal fee. In particular, the withdrawal fee is subject to a service fee of 3.5%. If 3.5% equals or below an amount of 30, the client will be charged a 30 withdrawal fee and the maximum service fee is said to be capped at 3,500.

Fees

Apart from the withdrawal fee that we have just discussed, LiteGap also charges some other fees.

For example, the clearance fee is 0.5% from every trade, both winning and losing, up to $1,000.

If the trading account is inactive for two months or more, the account becomes dormant and will be charged a dormant fee of $/€/£500.

Also, the maintenance fee of 0.5% from the monthly account balance will be charged.

News

NewsWikiFX report: LiteGap Review – is litegap.com scam or good forex broker?

LiteGap is a highly shady forex broker that refuses to reveal any information about itself. We have grounds to believe we are dealing with a scammer and urge you to proceed with care. Make sure you read the following review before you decide to invest your hard-earned money with them because it will tell you everything you need to know about them.

WikiFX
2022-04-06 15:25
WikiFX report: LiteGap Review – is litegap.com scam or good forex broker?

NewsWikiFX report: LiteGap review – 5 things you should know about litegap.com!

LiteGap is not a licensed broker, and its website contains no mention of regulation at all. With the firm, this means that all bets are off. There is no guarantee that it is not a scam or that it is genuinely competent to keep and manage your assets.

WikiFX
2022-04-06 15:19
WikiFX report: LiteGap review – 5 things you should know about litegap.com!
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FX1447259776
more than one year
LiteGap is a total disaster, man! This platform is unregulated, which means you're taking on all the risk with no backup. And, on top of that, they have huge spreads, making it tough to make any profit at all. The trading interface is an absolute joke too, which makes it even more frustrating to use. Honestly, it's pretty clear that they're just trying to scam new traders who don't know any better. Stay away from this platform, dude.
LiteGap is a total disaster, man! This platform is unregulated, which means you're taking on all the risk with no backup. And, on top of that, they have huge spreads, making it tough to make any profit at all. The trading interface is an absolute joke too, which makes it even more frustrating to use. Honestly, it's pretty clear that they're just trying to scam new traders who don't know any better. Stay away from this platform, dude.
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2023-03-27 10:34
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