Broker LiteFinance has announced the launch of a Lucky Ticket contest for its partners in Malaysia with a monthly prize pool of $5,000.

"LiteFinance's partners in Malaysia automatically participate in the contest," the company said in a message.

The first-place prize is set at $3,000; the second place participant will receive $1,500; and the third-place participant will receive $500.

Entrants will receive one raffle ticket for every $3,000 contributed by their referrals. The number of tickets is unlimited.

The winner will be determined randomly using a transparent and clear algorithm and a special number based on currency rates.

Earlier, the company announced a new Lucky Ticket Draw contest for traders from Nigeria, which will run from March 1 to June 3, 2024.

Broker LiteFinance was founded in 2005 and provides innovative solutions for active and passive trading. The company operates in Singapore, Indonesia, Kenya, Kyrgyzstan, Mongolia, Morocco, Myanmar, Thailand, Vietnam, and several other countries.