RESOLVED Case# 2013-057 | M&Z vs liteforex.com

Based on the available evidence, do you believe that LiteForex is guilty?

  • Guilty

    Votes: 84 90.3%
  • Not Guilty

    Votes: 9 9.7%

  • Total voters
    93
  • Poll closed .
From last few months they have found new ways to steal customer's money, I promote them as an I.B luk like i will have to drop them off very soon. Other wise they will continue to scam more..!!!
 
What the **** is wrong with most brokers! They will hunt your SL, Freeze their platform, have requotes and slippages! And when you finally cross all these hurdles and make profits for yourself, they refuse your withdrawal and try to still your money with silly excuses! Liteforex and it's likes, engaging in scamming businesses should be taken out of forex business. Period
****!
 
Actually I'm tired to vote case like this, if you want make a big cash don't use market maker broker or don't apply for the bonus. If you don't have bonus on your acc I will vote guilty. But in this case I will choose abstain as long the broker give it back your deposit. There is always another good trade just move on and concentrate on your next trade with non market maker broker.
 
Another excuse to stop paying a winning trade - OK maybe the signing bonus is exempt from your win but the rest ought be credited to the account
 
It does seem a common issue that the fine print around "bonus" deposits get traders into grey areas of T&C's. Personnally, I wouldn't trade with a broker promoting such offers because they lead to "bait and switch" scenarios too frequently; plus, if you don't have the momney to trade, you shouldn't be trading, period! Bonus deposits are a ruse to encourage people to overtrade their account.

That being said, this broker seems to be tryiing a new variant of "scam" on their clients; accusing the client of trading an unauthorized hedge from a different IP (in this case, from inside the brokerage)! Now just how absurd is that!!!!

The whole thing begs answers to questions like, who authorized the "hedge" account and how could a client trade from an IP inside the brokerage without prior knowledge? Even if this happened as a result of some sharp witted internet geek hacker, one has to question the security and safety of an account with such a broker!!

I'm voting this one guilty...
 
If LiteForex's evidence of cheating had held up, I'd have to vote Not Guilty. Instead, the 2nd claimed incident of mirror trading from the same IP between 2 accounts was from an IP that belonged to LiteForex itself. That's laughable.

This means that a trader's profits were confiscated based on a single suspicious trade mirrored between 2 accounts with NO additional confirming evidence that the accounts were working together. Based on that, I personally feel that LiteForex is guilty of removing a trader's profit without sufficient reason.
 
I think that the broker is not guilty, and the trader before trade should read regulations more attentively.
 
I think that the broker is not guilty, and the trader before trade should read regulations more attentively.

ok u r right when the broker have the evidences to take this action with me
but them didn't have any thing
them ONLY SUPPOSED that's me mirrored my trades by the same IP and he didn't approved us any pics or any things
 
I dont think a company like liteforex would make a issue out of petty matters....see they have shown the documentary proof and more over if a company has already put up some rules and regulation to abide with then one cannot blame liteforex for taking action against them
 
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