LiteFinance has announced that it recently had “technical issues” with its servers, which caused a temporary suspension of its services. The multi-asset financial trading services provider, via its Twitter profile, admitted that its server had a major global technical failure.
However, the broker noted that the technical failure did not have any impact on clients’ funds. Additionally, the failure did not affect the personal information of the clients and none of their information was leaked to third parties.
The Issue Was “Impossible” To Prevent
LiteFinance added that its technical team worked over the weekend to fix the problem, which it called an “impossible event to predict.”
The broker stated that the failure was impossible to guide against because it was caused by technical issues in the provider’s hardware. Meanwhile, LifeFinance has assured clients that their funds are safe ad traders will be restored and closed at present stop loss and take profit levels. The broker has assured clients that normal trading will resume as soon as everything has been resolved.
The system failure is coming shortly after Litefinance rebranded and changed its name from LiteForex. The company is also pushing for global expansion ad the addition of more products to its service. LiteFinance is also planning to gain licenses from other jurisdictions.
Some Servers Have Been Restarted Successfully
Following the temporary closure of its platform, the company has announced that it has restarted its MT4 trading servers successfully. Also, the broker’s Classic MT5 and LiteFiannce ECN servers are now in full operation, according to the announcement.
The broker has also informed clients that their passwords have been reset to avoid being victims of targeted cyberattacks. All clients that use MT5 have been set an email with information to reset their password.
The broker also explained that the “Best of the Best” contest that was supposed to hold this month has been suspended due to the underlying issue. However, it noted that a new date will be set as soon as the technical issues are resolved. The contest is an event held by the firm to promote more client participation in the market.
