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LiteForex.com (liteforex.org) Review

Overall Rating: SCAM Scam Investigation >>
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Total Reviews: 210
Last Updated: 2016-05-26
Special Notes:

CAUTION:  LiteForex has a policy limiting a trader's profits on news events and gap openings.  This rule is currently listed as item 6.8 here  .  

SCAM CONFIRMATION

September 17, 2013:  There are now 4 FPA Traders Court Guilty verdicts against LiteForex.  The FPA now considers LiteForex to be a scam.

LiteForex is blacklisted.  The FPA recommends AGAINST opening accounts with LiteForex.  If you have an account with LiteForex, we recommend you withdraw your money as quickly as possible.

Other websites of this company include LiteForex.org

 

Click here to join live discussion of LiteForex.com (liteforex.org) on our forum
   
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court COURT file case Cases Open - 0 | Not Guilty - 0 | Guilty - 4   reviews REVIEWS submit review
ID Filed Case Verdict
2013-091 2013-07-30 GUILTY
2013-057 2013-05-16 GUILTY
2013-040 2013-04-09 RESOLVED
2012-092 2012-11-07 GUILTY
2012-090 2012-11-05 GUILTY

FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2006-10-16
Review: We do not have any experience with this broker. If you have used them, please kindly submit your review above.

Elijah Marks, Cicero IL, USA

Rating: No Rating
Date of Post:2016-05-24
Review: I just inquired with these guys, and got a quick call from russia, she asked me if I spoke spanish. hah, dunno if she sounded russian but who knows, I asked her if she was in Mexico and she said yes. hah again, she didnt know enough english to close the deal, someone is calling me next week, will update, but doesnt sound good!

Aleks, Bangkok, Thailand

Rating:
Date of Post:2016-03-14
Review: I've being trading with liteforex during last 3 years. Service is excele t, execution is less than 1 sec. Better to use their free Vpn ( if you have lite points in their cop club) I realy like their analytics thru made an application for it, try it really helpful. Btw the changed their agreement and there is no such point 6.8 I think it because the launched ecn accounts and got new lp, seems they offer aggregated liquidity cause sometime spread is really low.

Tom, utrecht, Netherlands

Rating:
Date of Post:2015-10-29
Review: i have my doubts about them. look at 27-10-2015 it has a drop of more then 1000 pips in that day. no other broker has that movement.

i would stay away from lite forex.

ganesh, bangalore, India

Rating:
Date of Post:2015-09-30
Review: I am trading with Liteforex from more than a yea and i see no pblm. their indian office pays withdrawals in 24hrs locally and also offers 1pip fixed spread classic account.

I am happy with their service. Now that i am endorsing them, i will as

Stefan, Frankfurt, Germany

Rating:
Date of Post:2015-06-16
Review: I want to withdrawal all my money. Jann Hehl, my account manager called me and offer me a swap-free account without any restriction, when I not withdraw my money. Because he know that I most traded EURTRY long for days and weeks. So I do not withdraw and traded for some month. I made big profits and then Liteforex closed my account, give me my initial deposit back and steel all my profit. They wrote: "Dear sir,
The security department of LiteForex has finished the investigation. We regretfully inform you that our counteragent has recognized your activity as aimed at the obtaining of illicit risk-free profits by the hedging of swap-free positions in LiteForex with another broker and has canceled all your trading results respectively....". Yes I hedged some positions, nobody tell me that is forbidden. Where stand this? I wrote them,they can charge swap for the period since it is swap-free, but to cancel ALL trades is not ok. They are big scammer.
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Gabriel, Bucharest, Romania

Rating:
Date of Post:2015-05-14
Review: Dear Gabriel Urse,

Let me clarify for you that Transfer of funds can be extended by Company for the period up to 14 working days in exceptional cases requiring verification of compliance of trading and non-trading operations conducted by Clients with the terms and conditions of the “Agreement on the system of quotation and order of trading operations” and this agreement.
About to your request our managers do the best to complete it more fast so please be so kind to wait. You will get your funds shortly.

Thank you for understanding and cooperation.
--

Best Regards,
Mikhail Vasilyev

Financial Department
LiteForex Investments Limited

2015-05-12 1Star Chat reference number: 95627
-------------------------------------------------------------
| 13.05.2015 08:26:18 | Sergey Poturay: Welcome to client service department. My name is Sergey Poturay. Please allow me a moment to review your request.
| 13.05.2015 08:26:21 | Sergey Poturay: May I be of service?
| 13.05.2015 08:29:12 | Gabriel Urse: How ca you comment on that link?
| 13.05.2015 08:29:27 | Gabriel Urse: what does the 6.8 clause means?
| 13.05.2015 08:29:41 | Gabriel Urse: http://www.forexpeacearmy.com/public/review/www.liteforex.com
| 13.05.2015 08:30:02 | Sergey Poturay: We do not comment any links
| 13.05.2015 08:30:07 | Gabriel Urse: I would like to become an IB of liteforex and I want to know everything
| 13.05.2015 08:30:15 | Gabriel Urse: why you do not comment?
| 13.05.2015 08:30:16 | Sergey Poturay: We have our representative on the internet-forums. He checks the most popular forums and give answers on the questions or accusations on the forums. But If you have concrete accusation, we can answer on the concrete accusation.
| 13.05.2015 08:30:34 | Gabriel Urse: I am already there
| 13.05.2015 08:30:37 | Gabriel Urse: Gabriel urse
| 13.05.2015 08:30:48 | Sergey Poturay: Because this is not job of clients department.
| 13.05.2015 08:30:56 | Gabriel Urse: I have posted that you do not give me the money I requested and I intitled too
| 13.05.2015 08:31:13 | Gabriel Urse: I have made a withdrawal request on 7 th of May
| 13.05.2015 08:31:21 | Gabriel Urse: and not approved
| 13.05.2015 08:31:46 | Sergey Poturay: You made withdrawal only 3 days ago
| 13.05.2015 08:32:07 | Sergey Poturay: Withdrawal requests are processed by the financial department manually during working hours. All withdrawal requests are proccessed in order of general terms during 1-4 hours, if we have a lot of withdrawal request it can take up to several working days. All of them are executed in the order of turn.
| 13.05.2015 08:32:19 | Gabriel Urse: 7,8..11.12.13 now, there are 4 working days
| 13.05.2015 08:32:51 | Sergey Poturay: We have to inform you that there is short delay in request processing, as soon as this matter will be solved you will definitely get your funds. We apologise for caused inconveniences, please be so kind to wait.
| 13.05.2015 08:33:03 | Gabriel Urse: you bullshit me with this explanation
| 13.05.2015 08:34:25 | Gabriel Urse: when is my request of withdrawal approved?
| 13.05.2015 08:34:33 | Gabriel Urse: the time and date
| 13.05.2015 08:35:00 | Sergey Poturay: Unfortunately I can't know exact time, I guess during this week.
| 13.05.2015 08:35:09 | Gabriel Urse: ha,ha,ha
| 13.05.2015 08:35:26 | Gabriel Urse: are you considering this answer professional?
| 13.05.2015 08:36:41 | Sergey Poturay: I am not able to speed your request because I am not from finance department.
| 13.05.2015 08:37:02 | Sergey Poturay: And I can not help if you do not want to wait a little bit more.
| 13.05.2015 08:37:21 | Gabriel Urse: what a little bit more means?
| 13.05.2015 08:37:42 | Gabriel Urse: do you consider your reasons professional?
| 13.05.2015 08:38:10 | Sergey Poturay: There are many requests for withdrawal now. Our specialists do their best, hope, your funds will be withdrawn soon, please, wait your turn.
| 13.05.2015 08:38:59 | Gabriel Urse: my turn, what do we have here, a Ponzi scheme? when you are going to the bank to withdraw money do they tell you to wait your turn?
| 13.05.2015 08:40:44 | Sergey Poturay: Usually the withdrawal requests are processed during 3 working days. Now it can takes more time, it is temporarily. Please, be sure, that soon all withdrawal operations will be processed in usual for our company and convenient for our clients way.
| 13.05.2015 08:41:11 | Gabriel Urse: convenient for your company maybe not for the clients
| 13.05.2015 08:42:51 | Gabriel Urse: what clause 6.8 means?
| 13.05.2015 08:43:50 | Sergey Poturay: This point already was deleted from term of use.
| 13.05.2015 08:44:06 | Gabriel Urse: that is why I couldn't find it
| 13.05.2015 08:44:50 | Gabriel Urse: ok, let me know when I receive the money

Gabriel Urse, Bucharest, Romania

Rating:
Date of Post:2015-05-12
Review: I made an withdrawal and they are giving me the money back, sending me emails in which they tell me to sit and wait my money.

Daniel Arque, Southport, United Kingdom

Rating:
Date of Post:2015-03-17
Review: I've been using Liteforex for over 3 years now and its a great broker, I use their Non Dealing Desk account, I withdraw with them last Sunday and got paid into my Skrill (moneybookers) account in less than 24 hours and now its in my back same day

Alex, Bucharest, Romania

Rating: No Rating
Date of Post:2015-02-02
Review: Everything was fine until i made a lot of profit... then i started to get delays when opening/closing trades and so on. Its pretty clear what happened so just stay away, there are better brokers out there who are even regulated.
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