Problem LiteForex Disabled My Account & Wiped Off My Profit!

[cywong]

Hello WAN MOHAMAD FESOL,

Your situation has been explained to you a month ago. This is about 30% bonus promotion. You created several clients’ profiles from the same ip-address each time taking the bonus of 30%. Then you opened several trades. One part of them was buy-trades, the other one was sell-trades. The volume of buy and sell trades was equal, so one part of your trades gave you pure loss and the other one gave you pure profit. But the point was that your profit was higher than your loss by the amount of the bonus. So you just took the bonus for free with no risk. It can be even called “trading”. We stopped it, blocked your accounts and returned you initial deposit.

It is interesting that you were satisfied with the explanation a month ago. What has happened now? Have you been encouraged by recent postings at FPA?

Really there are several groups of our former clients that used the same (or practically the same) strategy to take the company’s money. LiteForex has thousands of clients all over the world, but most of such “traders” happened to be from two countries only – Malaysia and Indonesia where this strategy has spread widely. As you can see there are no “dissatisfied” clients from the other regions of the world.

We have tolerated the situation for several months but in August we started to dispose of such people. Pay attention that all of them received their initial deposits back.

Mr Shuvalov,

You must be a blind person that you do not see that LiteForex purposely wipe off Fesol's profit.
Who the heck want to steal for such little amount of bonus?

Thanks.

 

[WAN MOHAMAD FESOL]

Liteforex, Prove to Us That I'm Cheating U..

Hello WAN MOHAMAD FESOL,

Your situation has been explained to you a month ago. This is about 30% bonus promotion. You created several clients’ profiles from the same ip-address each time taking the bonus of 30%. Then you opened several trades. One part of them was buy-trades, the other one was sell-trades. The volume of buy and sell trades was equal, so one part of your trades gave you pure loss and the other one gave you pure profit. But the point was that your profit was higher than your loss by the amount of the bonus. So you just took the bonus for free with no risk. It can be even called “trading”. We stopped it, blocked your accounts and returned you initial deposit.

It is interesting that you were satisfied with the explanation a month ago. What has happened now? Have you been encouraged by recent postings at FPA?

Really there are several groups of our former clients that used the same (or practically the same) strategy to take the company’s money. LiteForex has thousands of clients all over the world, but most of such “traders” happened to be from two countries only – Malaysia and Indonesia where this strategy has spread widely. As you can see there are no “dissatisfied” clients from the other regions of the world.

We have tolerated the situation for several months but in August we started to dispose of such people. Pay attention that all of them received their initial deposits back.

LITEFOREX IS SCAM THAT ALWAYS CREATING EXCUSES EXCUSES AND EXCUSES...

Scam by broker on account no : 840125, 840126 and 840127.
Broker: LiteForex Group of Companies, Inc.

Hi All,

Attached here are more screenshot of Proof that Liteforex wiped off and take away my Profit. Please pay attention to the price and time on every opened position and closed position on the MT4 screenshot. I think it is not right solution for me that I could only withdraw my initial deposits and not the profits. I don't need the 30% bonus from your company. Please provide me Proof if you found me violate bonus program conditions and use bonus funds to get an unlawful profit. Liteforex is just creating a lot of excuses without state any proof to get away from paying profit to the client. I never satisfied with Liteforex explaination that e-mailed to me a month ago becouse I have done nothing wrong. I do not buy-trades and sell-trades in different account and take advantage of the bonus given as been said by Shuvalov. I never think or get the idea to do that. I only have all buy trades in all of my account. I just follow signals from many forex signal that forecast long way Bullish for GBPUSD pair. Again, Liteforex seen creating an excuse without state any proof to run from paying profit to the client. I don't create the multiple profiles as u said. I only have one profile with MY OWN FULL NAME , with submitted ID and IT'S FULLY VERIFIED by Liteforex account manager. I brings my laptop everywhere. I'm accessing internet from internet Cofee house and Restaurant Wi-Fi, Cyber Cafe, Public Wi-Fi, Library Wi-Fi and office internet connection that everybody here is using the same and shared IP address. We only shared IP address and I don't have any problem of that, becouse I am using my own laptop. As u know, the forex market is too liquid that sometimes give me a lot of profit and sometimes make my account to Margin Call and Stop Out. I never claim anyting from any broker if my account get into Margin Call and Stop Out. But this is "Profit Stealing by Liteforex" and its for first time happened in my life. I must get back my profit that wiped off by broker as seen in the ScreenShot attached. Liteforex, please tell all the reader here how many profile meet IP address, which account and which IP that I use to create multiple account? Liteforex, Do you have any proof of that or its just an excuses? I'm not doing any kind of that. Again, Liteforex just creating an excuse without state any proof to get away from paying profit to the client. I am so regret that you are not paying me the profit. I have trade with several broker before and this is the first time I faced a problem like this. Traders, stay away from this broker and withdraw all your fund from Liteforex before they scam you. Find and Trade with a sincere broker. You may be the one of scam victim near in the future if you continue to trade with this broker.

Regards,

WAN MOHAMAD FESOL WAN AB HAMID

Tel: +6 016 910 8747

 

[RahmanSL]

It seems to me that LiteForex representative repeatedly accuses their clients, whose profits have been deleted/cancelled, of having more than one account to "cheat" LiteForex of their 30% bonus.(Though quite frankly, I don't see how that can be done since brokers offering bonuses have all sorts of T&C attached before the bonus can be withdrawn).

If that's the case, then it should be simple and straight forward for LiteForex to submit proof of these multiple accounts held by the same person(s).

 

[cywong]

LITEFOREX IS SCAM THAT ALWAYS CREATING EXCUSES EXCUSES AND EXCUSES...

Scam by broker on account no : 840125, 840126 and 840127.
Broker: LiteForex Group of Companies, Inc.

Hi All,

Attached here are more screenshot of Proof that Liteforex wiped off and take away my Profit. Please pay attention to the price and time on every opened position and closed position on the MT4 screenshot. I think it is not right solution for me that I could only withdraw my initial deposits and not the profits. I don't need the 30% bonus from your company. Please provide me Proof if you found me violate bonus program conditions and use bonus funds to get an unlawful profit. Liteforex is just creating a lot of excuses without state any proof to get away from paying profit to the client. I never satisfied with Liteforex explaination that e-mailed to me a month ago becouse I have done nothing wrong. I do not buy-trades and sell-trades in different account and take advantage of the bonus given as been said by Shuvalov. I never think or get the idea to do that. I only have all buy trades in all of my account. I just follow signals from many forex signal that forecast long way Bullish for GBPUSD pair. Again, Liteforex seen creating an excuse without state any proof to run from paying profit to the client. I don't create the multiple profiles as u said. I only have one profile with MY OWN FULL NAME , with submitted ID and IT'S FULLY VERIFIED by Liteforex account manager. I brings my laptop everywhere. I'm accessing internet from internet Cofee house and Restaurant Wi-Fi, Cyber Cafe, Public Wi-Fi, Library Wi-Fi and office internet connection that everybody here is using the same and shared IP address. We only shared IP address and I don't have any problem of that, becouse I am using my own laptop. As u know, the forex market is too liquid that sometimes give me a lot of profit and sometimes make my account to Margin Call and Stop Out. I never claim anyting from any broker if my account get into Margin Call and Stop Out. But this is "Profit Stealing by Liteforex" and its for first time happened in my life. I must get back my profit that wiped off by broker as seen in the ScreenShot attached. Liteforex, please tell all the reader here how many profile meet IP address, which account and which IP that I use to create multiple account? Liteforex, Do you have any proof of that or its just an excuses? I'm not doing any kind of that. Again, Liteforex just creating an excuse without state any proof to get away from paying profit to the client. I am so regret that you are not paying me the profit. I have trade with several broker before and this is the first time I faced a problem like this. Traders, stay away from this broker and withdraw all your fund from Liteforex before they scam you. Find and Trade with a sincere broker. You may be the one of scam victim near in the future if you continue to trade with this broker.

Regards,

WAN MOHAMAD FESOL WAN AB HAMID

Tel: +6 016 910 8747

Fesol! Good Move!
Who the heck want to take that stupid bonus?

 

[Pharaoh]

Typically, part of the T&C for bonuses is that the accounts can't be created from the same IP and that they can't hedge each other.

For example, if someone open 2 accounts and get 2 bonuses, he could then go long in one account and short in the other and use the bonuses to increase my lot size. Sooner or later, one account gets a margin call, but the other one is in more profit than it would have gotten without the bonus.

If this is clearly prohibited in the bonus terms, then the broker wiping the profits (and losses) is not cheating.

 

[cywong]

Typically, part of the T&C for bonuses is that the accounts can't be created from the same IP and that they can't hedge each other.

For example, if someone open 2 accounts and get 2 bonuses, he could then go long in one account and short in the other and use the bonuses to increase my lot size. Sooner or later, one account gets a margin call, but the other one is in more profit than it would have gotten without the bonus.

If this is clearly prohibited in the bonus terms, then the broker wiping the profits (and losses) is not cheating.

Hello Pharaoh,

You do not read the whole text carefully.
No one at here wish to cheat bonus from LiteForex.
So little amount of bonus!

Thanks.

 

[IB liteforex]

Typically, part of the T&C for bonuses is that the accounts can't be created from the same IP and that they can't hedge each other.

For example, if someone open 2 accounts and get 2 bonuses, he could then go long in one account and short in the other and use the bonuses to increase my lot size. Sooner or later, one account gets a margin call, but the other one is in more profit than it would have gotten without the bonus.

If this is clearly prohibited in the bonus terms, then the broker wiping the profits (and losses) is not cheating.

Hello Pharaoh,

We are accept if liteforex cancel profit in case there are solid evidence their trades hedge each other, BUT this case can not used to Confiscate ALL trade profits!
I suppose trader nor liteforex is not an angel, so we must talk with evidences.


Regards

 

[Shuvalov]

Typically, part of the T&C for bonuses is that the accounts can't be created from the same IP and that they can't hedge each other.

For example, if someone open 2 accounts and get 2 bonuses, he could then go long in one account and short in the other and use the bonuses to increase my lot size. Sooner or later, one account gets a margin call, but the other one is in more profit than it would have gotten without the bonus.

If this is clearly prohibited in the bonus terms, then the broker wiping the profits (and losses) is not cheating.

This is exactly what I am talking about.

 

[Shuvalov]

Hello Pharaoh,

You do not read the whole text carefully.
No one at here wish to cheat bonus from LiteForex.
So little amount of bonus!

Thanks.

Really? To get 30% of your deposit in just 1-2 days with no risk is "little amount" for you?

 

[Shuvalov]

We are accept if liteforex cancel profit in case there are solid evidence their trades hedge each other

So, if you accept it, then what you want from us?

BUT this case can not used to Confiscate ALL trade profits!

Once again: we don't confiscate profits of real traders (of those who are trading, not looking for weak points of the system).

Our clients who spent a lot of time to learn, who developed their own trading strategy, who practiced and got experience - they enjoy good profits. Those who cheat - have big problems. It is very easy.