LiteFinance Down with a Technical Hitch in Company Servers

LiteFinance Down with a Technical Hitch in Company Servers

LiteFinance, one of the pre-eminent forex brokers in the world experienced an abrupt technical issue that brought an immense grumble on social media networks. From the statement released on the broker’s Twitter handle, the technical hitch was caused by the company’s server hardware provider failure. Nevertheless, the technical failure did not affect clients’ funds which were the sensitive concern that clients raised on Twitter.

LiteFinance, formerly LiteForex, confirmed that none of the client’s personal information was disclosed to third parties. The servers were damaged physically and personal data was physically deleted. The company reaffirms that; the trades will be restored and close at present Stop Loss and Take Profit levels.

The incident was termed as ‘an impossible snag to predict’ and the broker’s technical team attentively acted on the issue. The issue occurred a few days after the company’s announcement of their scheduled maintenance of trading servers, online trading platform, clients profile, and company’s site on 02.01.2022.

“We want to emphasize that none of your personal information has been leaked to third parties. The servers were damaged physically and personal data have, therefore, been deleted physically. Unfortunately, the failure was impossible to predict as it occurred due to the server hardware provider’s technical issues. This technical failure hasn’t affected our clients’ funds; they are safe. The company guarantees that trades will be restored and closed at preset SL and TP levels,” read LiteFinance’s statement in part.

LiteFinance, the first broker to offer $1 minimum deposit services enabled low-market traders to access the real market. It also made the world’s most liquid financial market accessible to countless traders.

MT4 and MT5 Servers

LiteFinance pronounced that, ‘ECN and CLASSIC MT5 is now up and running. Client passwords have been reconfigured and they are advised to check on their emails for a new password. This is only directed to those who use MT5.

“ECN and CLASSIC MT5 is working now. Client passwords have been reset. Please check your email, you should receive an email with a new password. (This is for those who use MT5),” LiteFinance posted.

MT4 servers were also successfully restored, together with the client profiles in question, ofcourse.

On the same note, LiteFinance suspended this month’s  ‘Best of the Best’ contest. The broker has announced that the ‘Best of the Best’ contest will be resuming as soon as they can get their technical problems resolved.