LiteForex - Accepts bitcoin for deposits, withdrawals

[Stephen Gornick]

I happened across this press release:

July 16, 2012

NEW PAYMENT SYSTEM FOR LITEFOREX’S CLIENTS

LiteForex group of companies is offering its clients a new method of depositing into a trading account and withdrawing funds.   Now you have the opportunity to use the Bitcoin system.

Bitcoin is a cryptocurrency using peer-to-peer technology.
This system has a number of advantages; the main ones are autonomous work with no centralized authority, high security, and absolute anonymity when making payments.   

To deposit in the account via Bitcoin system, you need to be logged-in in the system.
Please be aware that withdrawals of funds are allowed only through Bitcoin in case you used this system for depositing in the account.

I haven't used them.  They are based out of Russia.  They do claim to have representatives in a number of countries:

 - http://www.liteforexpartner.com/contacts/representative

Here is a profile:

The largest Forex the broker of Russia, known low deposits for beginning traders.

 - http://www.pro-master.org/en/forex/liteforex/reg.htm

[Coinbuck @ BTCLot]

There are also a huge number of complaints regarding LiteForex.

Just search for it, it won't take long to see the results popping up.

[Endgame]

If this is the first forex site accepting bitcoin as a payment method this is a pretty major development. Forex is a huge potential market for bitcoin imo. That said, i'd probably prefer to use a forex site not based out of russia

[ColdHardMetal]

If this is the first forex site accepting bitcoin as a payment method this is a pretty major development. Forex is a huge potential market for bitcoin imo. That said, i'd probably prefer to use a forex site not based out of russia

I seem to recall there being another one quite awhile ago, but it may have been proven to be a scam. I believe they also converted your deposit to USD, so there was quite a lot of currency risk just in depositing.

[Sergio_Demian_Lerner]

July 16, 2012
...
Please be aware that withdrawals of funds are allowed only through Bitcoin in case you used this system for depositing in the account.

Does this mean that you can´t  buy USD with Bitcoins and withdrawal USD?

But is seems you can deposit USD and withdrawal Bitcoins...

[Stephen Gornick]

July 16, 2012
...
Please be aware that withdrawals of funds are allowed only through Bitcoin in case you used this system for depositing in the account.

Does this mean that you can´t  buy USD with Bitcoins and withdrawal USD?

But is seems you can deposit USD and withdrawal Bitcoins...

I think it is the opposite.  If you fund the account with bitcoins, that is the only method you are allowed to withdraw using.

I think they do that so that they don't end up being used as an exchange that converts customer's bitcoin funds to and from other currencies.

[capoeira]

anybody used this broker using Bitcoin?

[capoeira]

it seams, they are not acepting Bitcoin anymore; I haven't found the option