Lite Forex (Straighthold Investment Group) - illegal collected funds

[Robert64]

! Highest level of caution for trading with Liteforex (Straighthold Investment Group) !


I was a customer of Lite Forex. At first I was happy with the services of this company. The problems appeared when I have send my first “test” withdrawal request. Below the history of my contacts with this broker:

1) 28.09.2012 - I have opened an account number 80217.
2) 19.10.2012 – Due to big difficulties with trading in my first account I have opened new subaccount and I have made first deposit on this account.
3) 06.12.2012 – Because of an error of Lite Forex system, my deposit operation to account number 81166 (amount 1400 USD + 210 USD bonus) has been doubled.
4) 13.12.2012 – Since nobody in the AML department did not correct this error, I sent an email to the help desk (allsupport@liteforex.com) with a request for clarification.
5) 27.12.2012 – I have send my first withdrawal request. The amount of 4800 USD.
6) 27.12.2012 – I received a message from the AML department that my withdrawal request was rejected due to suspicion of money defalcation. The investigation will take 14 working days and is in accordance with paragraph 4.3. agreement Lite Forex company.
7) 27.12.2012 - I sent another message (to my personal manager) with a request for an explanation of the problem.
8) 28.12.2012 - Mistakenly calculated deposit from 06.12.2012 in the total amount of 1610 USD was removed from my account number 81166, which is confirmed by daily reports of my account.
9) 28.12.2012 - My personal manager has informed me that AML department checks if I was able to trade with my own funds and that the error affected the amount charged to my transactions.
10) 18.01.2013- I received a message from AML department of the investigation results. It did not show any violantations of the trading agreement and now I can send a new withdrawal request.
11) 25.01.2013 – I have send new withdrawal request. The amount of 6000 USD.
12) 25.01.2013 - I received a message from AML department that my order got canceled due to the possible fraudulent action in my account and has suspended it for a period of 14 days because of the same point of the trading agreement (4.3.)
13) 29.01-5.02.2013 - I actually can’t make any transaction on my account. The problem was reported 4-times to the trading department and to chat-operator.
14) 06.02.2013 - I got a message from the AML department that on my account was found violation of the rules and that I used it for geting illegal profits (2.10.5). Account has been debited 2,756 USD.
15) 06.02.2013 – Because of the actions of AML Department I started to worry about the rest of my fund and I have send a full withdrawal request.
16) 08.02.2013 – My request has been suspended for the third time from the same point of the trading agreement (4.3.) for a period of 14 days.
17) 13.02.2013 – I got an information from my personal manager, that the investigation in my account number 81166 has already been completed and the problem was a swap-free service.
18) 18.02.2013 – I received an information from the AML department about fraudulent action in my account. Amount of money erroneously charged by LiteForex system (06.12.2012), the company unlawfully treated as part of the own profits 19.6% in my account and charged the amount 3998,32 USD. No point on the regulations says that the company Lite Forex is entitled to such behavior.
19) 01.03.2013 – According with trading agreement of Lite Forex Company I have send an official claim to his AML Department.
20) 07.03.2013 – Because I didn't get any confirmation of receiving my claim I have send it one more time to all available e-mail addresses of this company.
21) 27.03.2013 – Because the regulation time for a response has expired I have send another one message to AML Department with request for returning illegal collected funds.
22) 16.04.2013 – I decided to act to warn other traders before trading of the company. I also asked a law firm for help in taking legal action against Lite Forex.


To sum up:
- The amount of funds collected from my account in Lite Forex is over 6750 USD.
- Almost all e-mails from the company are anonymous (signed only for example “AML Department”).
- Since 18. February 2013 – the employees of AML refuse to contact me.
- A chat-operator refuse to give me the contact address to the real office of this company.
- Dial-up (phone) connection with my personal manager is not possible.
- A chat-employee also refuse to give me the contact details to the head of Lite Forex (Straighthold Investment Group).
- I determined that on the Seychelles is only a virtual office of this company.
- Lite Forex is not regulated by FSC. Only regulation Is RAUFMM – self organized institution. It means that there is no external oversight of this company.
- Wire deposit operations take place through an intermediary company. It is not possible to establish the bank account details (include real address) of Lite Forex.
- Lite Forex doesn’t respect his own trading agreement. An client agreement which I signed has been broken a few times.

I will be thankful for the opinion of other users and possible assistance in order to recover my funds.

Best regards
Robert Janik

 

[Pharaoh]

Robert,

Go ahead and contact LiteForex's forums rep. You can send him a private message from his profile here:

View Profile: Alexander.LiteForex - Forex Peace Army Forum

You can also file a complaint with their "regulator" here:

Ïîäàòü æàëîáó

 

[Alexander.LiteForex]

Robert64
You turned everything head over heels.

Your deposit and bonus were mistakenly doubled. And you didn not report us about it , and continued trading with those funds. After you requested your withdrawal , we found out that you were trading not only with your funds, we told that fact. But you act like you reported it to you personal manager, not to our support, as you saying here.

4) 13.12.2012 – Since nobody in the AML department did not correct this error, I sent an email to the help desk (allsupport@liteforex.com) with a request for clarification.

Basicly this funds were not yours, it were companies. With your own funds you didnt even had enough margin to open that big size trades, that you did. With your own funds you didn't even had opportunity to keep the positions open while you had floating loss.
So ofcourse your trades has been adjusted in proportion to your own funds.

 

[Robert64]

Dear Alexander.LiteForex

Thanks for joining the discussion. In response to Your post above I put here the screen-shots to confirm that I contacted Your company in case of mistakenly deposited funds:
a) An e-mail from 13th December 2012. (LINK)
b) A message from 14th February 2013. (LINK)

Basicly this funds were not yours, it were companies. With your own funds you didnt even had enough margin to open that big size trades, that you did. With your own funds you didn't even had opportunity to keep the positions open while you had floating loss. So ofcourse your trades has been adjusted in proportion to your own funds.

In reference to the e-mail message that I received from Your company on 18 February 2013 I also restored all the operations in my account. The calculations showed that excluding erroneously deposited funds I was able to open new positions and trade them only with my own funds:
a) 6th of December 2012 18:05 - after opening news orders (in total 0,8 standard lot on Eur/Aud currency pair) a margin level was exactly 118%. At this point the amount of my own funds was 5741,2 USD and required deposit was 4805 USD.
b) from 6th to 28 th of December (on that day the amount of mistakenly deposited funds was removed from my account) the margin level was not lower than required minimum (50% in case of my type of account).
My calculations are confirmed by daily reports from Your company and also by historical quotation downloaded from Your trading platform.
I would kindly ask You to answer the following questions:
a) Why Lite Forex was charged my account for the whole period of my trade activity and not just the period 6-28 December 2012 when it traded Your funds ?
b) 18th of January 2013 I have been informed that the investigation in my account has been completed and didn't showed any violations. Why someone in Your company changed his mind and decided to charge my account (despite the absence of objections before)?
c) Which point of Your trading agreement says that Lite Forex has the right to such activity ?
d) What about the swap fees, charges from my account (point 14. of my first post)? According with Your agreement Lite Forex has the right to charge only pending orders and it dosen't works retroactively (for already closed orders).
I will be very thankful for sending me to my private e-mail the suggestions how to solve the problem of collected funds from my account in Lite Forex. Knowing that it is a big waste of time I would like to settle the matter amicably (in a friendly manner) and without any intermediaries.
Sincerly
Robert Janik

 

[Robert64]

Dear Alexander.LiteForex

Unfortunettly, I still did't get any reply from You on my official complaints from 1st and 7th March 2013. According with the point 6.4 of Your Public Offer Agreement, Your company had a 14 business days to reply. So, I wanted to know why You doesn't respect Your own rules? I also didn't receive any answer for the questions from my last post published on this forum (19-04). Once again I would kindly ask You or other representative of Lite Forex for sending me Your suggestion, how to solve the problem of illegal collected funds from my accounts in Your company.

Sincerly
Robert Janik

 

[Alexander.LiteForex]

I will be very thankful for sending me to my private e-mail

I sent you a letter , chek it.

Unfortunettly, I still did't get any reply from You on my official complaints

According to your screenshots you sent it to allsuport@liteforex.com instead of allsupport@liteforex.com.