Advertisement
Advertisements

LiteForex.com (liteforex.org) Review

Overall Rating: SCAM Scam Investigation >>
Get code for your site
Total Reviews: 206
Last Updated: 2015-06-17
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
   
Advertisements
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.

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.

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.
Advertisements

celestine, , Nigeria

Rating:
Date of Post:2014-10-31
Review: Liteforex is a BIG scam, a Thief and a Dupe! As a new bie, i deposited $109,070 to liteforex via PM. I waited for 3 days for them to acknowledge the receipt of my deposit but was placed in the dark. I then contact Perfect money and they confirmed that liteforex received the transfer. Pls Read :-
Mon, Aug 5, 2013 at 10:19 AM
Reply-To: [email protected]
To: [email protected]
Dear Ihejirika Celestine O

We have contacted liteforex and they confirmed that you funded. Your liteforex account(205606) will be credited with 109,07900 within 24hrs.

It was after this they accepted that they received my money. But they never made this money available for trading on my trading platform. Rather they told me to buy vps from them to secure my deposit.As i was processing the payment, they wrote that same day giving me ultimatum. Please Read:-

Liteforex Fri, Oct 11, 2013 at 6:07 PM
Reply-To: [email protected]
To: [email protected]
Hello,Ihejirika Celestine O,

We are giving you till 15th -oct-2013 to activate your vps or we will claim your money with immediate effect..
If you are finding it difficult to pay through bitcoin,you can pay through perfectmoney because we have settled with perfectmoney.Our prfectmoney account money is U3441307..

After this I processed payment for the vps but they sent another mail the same day that they have claimed my money. Please Read:-
Liteforex Mon, Oct 21, 2013 at 11:17 AM
Reply-To: [email protected]
To: [email protected]
Dear Ihejirika Celestine O

We Liteforex.com has today being the 21st October 2013 claimed your $120,000 after failing to activate your vps account also have sent letter to both Perfectmoney.com and Traderush.com to put their signature down to be aware of our claim.

Thanks
Liteforex

They later confirmed the receipt of money for vps and wrote me: Please Read:-
Liteforex Fri, Oct 25, 2013 at 10:07 AM
Reply-To: [email protected]
To: [email protected]
Dear Ihejirika Celestine O

We have received your money for vps activation,Your money will officially be released on 1st Nov. 2013.No more fees again,you are eligible to have your money.

Thanks
Liteforex

After this promise to pay my money, they refused to reply my mails on this issue. I did not trade with this money because they did not make it available on the trading platform. So when i now ask for a refund, they refused to return my money till date. If they could behave like that to my real money not the profit i made, then i advise all traders to RUN AWAY FORM SUCH BROKER, Their license should be withdrawn and their brokerage status deregulated! this is broad-day ROBBERY! Traders beware!!

Barkook, Cairo, Egypt

Rating:
Date of Post:2014-06-15
Review: I traded with LiteForex for 3 months, the reviews they got worried me in the beginning but turns out that they are not that bad. I didnt get any bonuses there and I think that sales should spend some bonuses on their big traders..

Luca, Treviso, Italy

Rating:
Date of Post:2014-06-12
Review: I am more and more angry of the behavior of LiteForex!
They stole my profits (over 31.500,00 euro! - clause 6.8 is a real scam!), they made me wait months my capital and now no longer respond to my emails. LiteForex is a Ponzi scheme!
I'm still waiting for 500,00 euro for two months ...
I have created a website to tell my experience: http://www.liteforexscam.com/
Stay away from this broker!

2014-03-02 1 Star Hello, I’m Luca Novello, old account MT4-F-122435 (now closed by them).
LiteForex broker steals the money of the customers:
when I ask for a withdrawal, LiteForex does not give money;
LiteForex closes customer's account;
LiteForex change the profits made by customers (see its Regulation 6.8);
LiteForex unfairly investigates its customers for recycling;
LiteForex tells lies to justify his actions;
LiteForex says to contact support, but then does not respond to emails.
LiteForex is a scam broker.
Now I will tell you about my last experience.

I noticed a couple of days ago that the account balances are not correct: they have changed the balance of my account? Have they used brute force to change my earnings?
Now I tell you the numbers that were until 20/02/2014:
Money transferred from Italy to LiteForex: € 30.505,00
Interests: € 241,83
Total Profit: € 33.062,51
Total swaps: € -453,24
Account Balance to 12/28/2013: € 63.149,21
On 12/28/2013, request for withdrawal: € 31.500,00
On 02/19/2014, request for withdrawal: € 31.800,00
After two months of email, chat, facebook, controversy, on 02/24/2014 LiteForex pays € 31.500,00 (ticket 12/28/2013)
Withdrawals now pending: € -31.800,00
Balance: € 56,10

When I asked the last withdrawal (ticket 21721091 - € 31.800,00) the balance of my account was found to be € 56.10

Now I have logged into LiteForex's site and I see the following:
Total profit: € 1.653,21 instead of € 33.062,51
Balance: € 446,80 instead of € 56,10

If there were problems with my trades, because don't they tell me before? They have arbitrarily changed the results: is this scam or correct behavior? Are these behaviors of a society fair and honest?
Dear LiteForex, restore immediately the correct balance and profit or I'll report you to the police! Do you think that an international tribunal gives reason to me or to you? I ask you to withdraw all my money! If you do not give me the money I gained, I ask you also moral damages.
Remember that I have proof of everything I say and these are not insults, they are proven facts!

2014-02-19 1 Star I'm Luca Novello, account MT4-F-122435.
LiteForex is a crook and a thief. My account is over € 62.000. I've withdrawn 31.000 but I am very angry because I do not receive my money. I made two withdrawals:
ticket 19494077 - 28/12/2013 - wire transfer: it is still pending from December!
ticket 20003860 - 15/01/2014 – Skrill: this has been canceled because they would not give me money not even with skrill
Have passed many days and I'm not receive precise responses. I have already written a lot of mail and chat.
Now I'm desperate. These thieves are stealing all my savings!
I have a lot of documentation which proves what I am saying.
Stay away from this broker! Look at other reviews on other forums. LiteForex is scam!

Jokowie, Kalimantan, Indonesia

Rating:
Date of Post:2014-06-09
Review: Dear Juris,
How about your transaction in this broker guys?.
I've been making many transaction of payment with this broker and so far there are no problems. perhaps, you must check it again and correcting the parameters on your wd process.
Show reviews per page | Next page>>
Sort:
Advertisements