LIT WAVE LTD is a CFD broker with a website domain registered on June 9, 2024. The broker mainly provides investment services in markets such as Forex, cryptocurrencies, indices, stocks, energy, and commodities, and does not serve countries or regions where doing so might violate local laws or regulations.
Corporate Registration Information and Regulatory Status
According to its website, LIT WAVE LTD (www.litwaves.live) is registered in the United States and uses "Lit Wave" as its trade name. The broker claims to be regulated by the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC).
Upon verification, no regulatory bodies such as the Financial Industry Regulatory Authority (FINRA), the Securities and Exchange Commission (SEC), the National Futures Association (NFA), the FCA, or ASIC have any record of a company named "LIT WAVE" being regulated.
Therefore, LIT WAVE LTD (www.litwaves.live) is effectively a fraudulent broker website without any corporate entity or regulation.
Account Opening Process
To open a trading account with LIT WAVE LTD, visit their website, click "Open Account" on the homepage or "SIGN UP" at the top right corner. Fill in the required personal information such as name and email, set a login password, and submit. Once the account is verified, registration is complete.
Trading Instruments:
LIT WAVE LTD offers a variety of trading products, including Forex, indices, commodities, stocks, and cryptocurrencies.
- Forex: Forex trading involves the exchange of different currencies, known for its high liquidity, enabling traders to profit from fluctuating exchange rates.
- Indices: Index trading allows speculation on the performance of a whole market or specific sector without trading individual stocks. Exploring popular indices offers diverse trading opportunities, enhanced by high leverage for potential gains.
- Commodities: Commodity trading covers essential global market resources, enabling traders to buy and sell various raw materials, including metals, energy, and agricultural products.
- Stocks: Stock trading allows investors to engage in the price fluctuations of public companies, earning from price changes and dividends based on company performance without owning the actual shares.
- Cryptocurrencies: Cryptocurrency trading provides opportunities for digital currency enthusiasts to profit from highly volatile assets.
Investment Plans
LIT WAVE LTD offers four different types of investment plans: Basic account, Classic account, Platinum account, and Forex Signal Subscription.
Basic account:
- Minimum deposit: $500
- Minimum expected profit: $4,500
- Maximum expected profit: $5,000
- Trader education*
- Risk management
- Tax-free spread trading profits
Classic account:
- Minimum deposit: $5,000
- Minimum expected profit: $45,000
- Maximum expected profit: $50,000
- Expert news and analysis
- Competitive spreads
- Advanced trading tools
- Tax-free spread trading profits
Platinum account:
- Minimum deposit: $10,000
- Minimum expected profit: $99,999
- Full benefits
- Trader education*
- Advanced risk management
- Tax-free spread trading profits
Forex Signal Subscription:
- Professional Forex signals
- Up to 10 signals per day
- 95% success rate
- 24/7 support
- Advanced trading tools
- Bitcoin payments only
- Use with any broker
Trading Platform
LIT WAVE LTD claims to offer the MT4 trading platform, providing deep liquidity, leverage up to 1:500, and the best spreads in the industry. However, a search of the MT4 platform reveals no broker by the name of LIT WAVE LTD.
Deposits and Withdrawals
LIT WAVE LTD claims on its homepage to support deposits and withdrawals via debit card, wire transfer, electronic check, or paper check. However, its "FAQ" page states that it does not offer multiple deposit methods, including credit/debit cards and bank wire transfers, and only supports cryptocurrency transactions.
Conclusion:
Traderknows reminds investors that LIT WAVE LTD is a scam broker that entices investors with high returns to deceive them. The website has no corporate entity and no regulation. It is recommended that investors choose brokers with transparent information, strong regulation, and good reputation for investment activities to avoid unnecessary financial losses.
Currently, this broker is marked as a "Scam" on Traderknows.
