Deposit and withdrawal guide via Top Change

How are LiteFinance Deposit and Withdrawal Options Enabled for You?

Financial transactions in LiteFinance are conditional upon full verification on both the broker’s platform and the Top Change exchange. The user must first verify their identity and proof of residence on the LiteFinance website, while simultaneously holding a verified account with a USD or local currency wallet on the Top Change website to establish a connection between the two.

Without completing these steps, the TopChange option will not be displayed or will remain inactive in the deposit and withdrawal menu of the LiteFinance client profile. Additionally, the account holder’s name in the broker and Top Change must be exactly the same.

Why is Top Change Suitable for Deposits and Withdrawals?

Top Change is an electronic payment service (PSP) that simplifies the currency conversion process for traders by directly supporting local currency and allowing deposits through the national banking network’s cards. High security, a long history of cooperation with brokers, and instant fund transfer speeds make this method a reliable option compared to unverified exchanges.

Furthermore, Top Change transparently records the transaction history, which is crucial for the trader’s personal money management and auditing.

Step-by-Step Visual Guide to Depositing in LiteFinance

Depositing funds into a trading account is an instant process, and the account balance is updated immediately after transaction confirmation.

Step One: Log into LiteFinance

First, log into your LiteFinance personal profile. From the right menu (or bottom on mobile), select the “Finance” option. In the top tabs of the page, click on the “Deposit” option to display the payment methods.

Step Two: Select Top Change Among Other Methods

In the list of deposit methods, navigate to the “Electronic Systems” section and locate the TopChange logo. If you do not see this option, your profile is likely not yet verified. Click on the Top Change logo.

Step Three: Specify the Trading Account

In the opened form, enter the following information:

1. Deposit Account: Select the trading account (such as ECN or Classic) you intend to fund.
2. Payment Amount: The amount of money you want to deposit (in dollars or local currency depending on the settings).
3. Then hit the “Continue” button. A proforma invoice including the amount and any potential fees will be displayed, which you must confirm.

Step Four: Transfer to the Top Change Gateway and Confirm Transaction

After confirmation, you will be automatically redirected to the Top Change website. Here, you must enter your Top Change username and password. Once logged in, select the source wallet and press the payment button.

After a successful transaction, you will be redirected back to the LiteFinance website.

Guide to Withdrawing from LiteFinance to Top Change

According to Anti-Money Laundering (AML) regulations, withdrawing funds is only possible through the method used for the deposit.

Step One: Log into the User Panel and Start Profit Withdrawal

In the “Finance” section, select the “Withdrawal” tab this time. A list of methods you have previously used for deposits will be active for you.

Step Two: Select Top Change and Determine Destination Wallet

Select the TopChange option. At this stage, you must enter the destination USD or local currency wallet number in Top Change (or choose from the list of saved wallets). Ensure the destination wallet is strictly in the name of the broker account holder.

Step Three: Enter the Amount and Base Currency

Enter the amount you intend to withdraw. The system will automatically calculate your withdrawable balance (Free Margin). If you have open positions, ensure that withdrawing funds does not reduce the margin level and risk a margin call.

Step Four: Security Confirmation and Finalizing the Request

Click the “Continue” button. A security code (Google Authenticator or SMS) will be sent to you. Enter the code and finalize the request. The transaction status in the “History” section will change to “Pending Processing”.

Currency Conversion Rules at the Time of Withdrawal

The conversion rate from dollars to the local currency in Top Change transactions is calculated based on the live rate of the Top Change exchange and is unrelated to the open market or broker rates. Usually, the buying rate of dollars by Top Change (during withdrawal) is slightly lower than the selling rate of dollars (during deposit). The trader must check the displayed conversion rate before final confirmation.

Review of LiteFinance Deposit and Withdrawal Fees

In a scheme called “Zero Fees”, LiteFinance refunds the deposit fee to the user (or does not deduct it at all). However, at the time of withdrawal, a percentage may be deducted as a transfer fee by Top Change. This amount is transparently displayed in the final proforma invoice before withdrawal confirmation.

Deposit and Withdrawal Processing Time

The transaction processing time in the Top Change and LiteFinance systems varies:

• Deposit: This is done instantly.
• Withdrawal: This is reviewed by the broker’s finance department during business hours (Monday to Friday). This process usually takes between 1 to 3 hours, but according to the rules, it can take up to 24 business hours.

Pros and Cons of Using Top Change

To make an informed choice, the table below compares the strengths and weaknesses of this method:

Common Deposit and Withdrawal Errors

Users may encounter the following errors:

1. Name Mismatch: The English name in the LiteFinance profile differs from the name in Top Change.
2. Transaction Limit Cap: The Top Change wallet has a specific limit that must be upgraded on the Top Change website.