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LiteForex Block My Account & Steal My Profit!

Discussion in 'Scam Alerts' started by cywong, Aug 21, 2011.

  1. cywong

    cywong Corporal

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    LiteForex Block My Account & Take My Profit!

    LiteForex has block my trading account on 19 August 2011.
    They block our account without sending us advance notice.
    We have face huge amount of lose.
    We wish to consult FPA regarding this issues.
    Do FPA has assigned lawyer on this issues?
    We willing to pay for the appeal if FPA can get back the money for us.
    LiteForex purposely release few regulations that say that we have violate their company regulation.
    We do not violate any regulations at all.
    Please reply us asap.
    Following is my account details.

    c.y.wong.digi@gmail.com
    106299
    111172

    Email from LiteForex

    ======================================================

    Hello.
    We've found out that IP address was used to create multiple different Client Profiles which is a direct violation of p. 5.14 of Public Offer Agreement "The Client acknowledges that he/she is entitled to register only one profile in the Client's Cabinet. Company's policy does not allow a person and juridical entity to have multiple profiles.". Also, we are obliged inform you, that you had violated the term of affiliate agreement:
    1.8 Neither a Partner nor his relatives or any Partner’s affiliated entities may act as Referral. If any data intersections (such as passport details, address, phone number, e-mail, IP-addresses or other) are detected, a Referral’s account will be excluded from a Partner’s client list and commission will not be paid for such account. Accounts operated from the same IP-address are considered as a single active account. Due these facts your account's will be blocked for trading, but you will be able to withdraw all your initial deposits.
    Profile c.y.wong.digi@gmail.com was deposited on EUR 58570,9, withdrawed EUR 53 198.16 so you can withdraw now EUR 5372,74.

    Best regards, Roman Baranov
    LiteForex Company Group

    ======================================================


    Thanks,

    Best Regards,
    Cheng Yee Wong

    Mobile: +(65)9481-8928

    Skype: cywong.digi
     
    #1 cywong, Aug 21, 2011
    Last edited: Aug 22, 2011
  2. Shuvalov

    Shuvalov LiteForex Representative

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    Mr. Cheng Yee Wong,

    Your account was blocked because you and your friends were cheating and violated LiteForex Public Offer Agreement. Actually it was last December when you tried to cheat for the first time. We stopped you then but allowed you to trade with us, and this was our mistake.

    It is a lie that you were not sent an advance notice, not only you received it, but you also received a personal phone call from our office in Malaysia.

    It is a lie that you faced huge amount of lose. You and your friends are free to withdraw all your initial deposits.

    Be warned that you are not welcome at LiteForex anymore because we do not want to deal with people who try to deceive us.
     
    #2 Shuvalov, Aug 22, 2011
    Last edited: Aug 22, 2011
  3. Pharaoh

    Pharaoh Colonel

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    Many brokers prohibit creating multiple profiles from one IP.

    There are various reasons for this. Some people do IB self-referrals. Others set up 2 accounts, accept large bonuses, and then try to hedge between the accounts in a couple of ways to take advantage of the system.

    You need to check all the rules carefully long before placing large amounts of money in one or more accounts.
     
  4. cywong

    cywong Corporal

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    Your account was blocked because you and your friends were cheating and violated LiteForex Public Offer Agreement. Actually it was last December when you tried to cheat for the first time. We stopped you then but allowed you to trade with us, and this was our mistake.


    First of all, I only have single verified account c.y.wong.digi@gmail.com & I have confirm with Natalya Zhaminova (LiteForex Accounts Manager) that I only have 1 verified account. profile c.y.wong.digi@gmail.com & profile skyking@gmail.com is 2 different person. I have lawyer notarized passport to show to LiteForex. I could go to Malaysia representative to show my identity.

    Sharing IP address is very common in Singapore. I have see several post of LiteForex trader account get closed only because they trade using public WIFI.
    Public WIFI is widely use in Singapore too.


    It is a lie that you were not sent an advance notice, not only you received it, but you also received a personal phone call from our office in Malaysia.

    I did not receive any phone call from Malaysia. I have discuss with Yaroslav, Andrey & Partner Department for some time. They have no issues with my account & trade.




    It is a lie that you faced huge amount of lose. You and your friends are free to withdraw all your initial deposits.

    Due to my unique trading strategy. Initial deposit refund could cause me big loss as I hedge my position in another broker A. Profit is also part of my deposit too. I have discuss with dealer many many times that for my strategy, they agree that my strategy has no problem at all.

    LiteForex - Profit
    Broker A - Loss

    Profit + Loss = 0

    If LiteForex take off my profit, I will face big loss. I could send you my Broker A MT4 Transaction History Sheet & also LR transaction history.

    Be warned that you are not welcome at LiteForex anymore because we do not want to deal with people who try to deceive us.

    I do not cheat in any matter. You could check my track record. I hope LiteForex could help me to solve out the confusion & misunderstanding. I can't afford to lose the money. Please help me. I could send you more prove & evidence regarding this issues.

    I believe LiteForex is reputabale company with 6 years of operation period. I hope LiteForex is understandable & solve out this confusion asap.
     
  5. syking

    syking Recruit

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    LiteForex Will Steal Your Profit

    To LiteForex:

    My Name: W-a-n-g S-u-y-u-n
    My Client ID: 806680910
    My Account: syking@gmail.com
    My Trading Account: 106317

    I received email from LiteForex on 19 August 2011 regarding the account blocking & initial deposit refund as described in following section.

    ---------------------------------------------------------
    We've found out that IP address was used to create multiple different Client Profiles which is a direct violation of p. 5.14 of Public Offer Agreement "The Client acknowledges that he/she is entitled to register only one profile in the Client's Cabinet. Company's policy does not allow a person and juridical entity to have multiple profiles.". Also, we are obliged inform you, that you had violated the term of affiliate agreement:
    1.8 Neither a Partner nor his relatives or any Partner’s affiliated entities may act as Referral. If any data intersections (such as passport details, address, phone number, e-mail, IP-addresses or other) are detected, a Referral’s account will be excluded from a Partner’s client list and commission will not be paid for such account. Accounts operated from the same IP-address are considered as a single active account. Due these facts your account's will be blocked for trading, but you will be able to withdraw all your initial deposits.
    Profile c.y.wong.digi@gmail.com was deposited on EUR 58570,9, withdrawed EUR 53 198.16 so you can withdraw now EUR 5372,74.
    Profile syking@gmail.com was deposited on EUR 57 408, withdrawed EUR 50 036 so you can dithdraw now EUR 7372.
    ---------------------------------------------------------

    In this email, LiteForex claims that I have violated 2 LiteForex’s regulations:
    1, 5.14 of Public Offer Agreement: The Client acknowledges that he/she is entitled to register only one profile in the Client's Cabinet. Company's policy does not allow a person and juridical entity to have multiple profiles.
    2, 1.8 Of Affiliate Agreement: 1.8 Neither a Partner nor his relatives or any Partner’s affiliated entities may act as Referral. If any data intersections (such as passport details, address, phone number, e-mail, IP-addresses or other) are detected, a Referral’s account will be excluded from a Partner’s client list and commission will not be paid for such account. Accounts operated from the same IP-address are considered as a single active account.



    I am here to claim that I DISAGREE with the regulation violations raised by LiteForex. I would like to clarify point by point.

    I. For Point 1 of violation 5.14 of Public Offer Agreement:
    I declare that I have ONLY ONE verified profile with LiteForex, the profile email is syking@gmail.com. If LiteForex found any other profile that LiteForex believe it belongs to me, Please LiteForex provide the profile details and evidence to prove the profile is mine.

    For the profile of c.y.wong.digi@gmail.com, the owner of that profile is not me. I and the owner of profile c.y.wong.digi@gmail.com are different persons.


    II. For Point 2 of violation 1.8 Of Affiliate Agreement:

    I declare that IP sharing is very common in Singapore. I don’t think I violated the regulation. Even the claim of violation from LiteForex for 1.8 Of Affiliate Agreement is valid, LiteForex could ONLY “Referral’s account will be excluded from a Partner’s client list and commission will not be paid for such account”, based on the Affiliate Agreement. It means LiteForex has NO permission to take off my profit from my account.

    I have read all signed agreement between LiteForex and me, there is NO such statement says that LiteForex has the permission to take my profit even I violate the Affiliate Program regulation. If LiteForex think LiteForex has the permission, please provide the evidence and the content of agreement.


    Based on the statement above, I claim that:
    1, LiteForex refund all the money including profile, total EUR 36259.44 to account email: syking@gmail.com (client ID: 806680910).
    2, I AGREE that LiteForex does not have to pay me the affiliate commission.



    W-a-n-g S-u-y-u-n
    Phone: +65-91167177
    Email: syking@gmail.com
     

    Attached Files:

  6. geoffrey

    geoffrey Private, 1st Class

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    Re liteforex will still your profit.

    I find it difficult to believe this but can not conclude otherwise. I have traded with them for long without such complain. we will take time to study more.
     
  7. Laurie Gold

    Laurie Gold Corporal

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    2 Threads

    it looks like we have 2 threads by each of the individuals, or allegedly single individual, in the Scam alerts folder. This one and one filed yesterday by CYwong. Perhaps we can combine the two threads and figure this out.:)
     
  8. Shuvalov

    Shuvalov LiteForex Representative

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    Mr. Cheng Yee Wong and Mr. Wang Suyun,

    Your situation has been fully explained to you countless times for the last days both by mail and phone. We do not see any reason to start explaining it once again. From now on all the discussion will be held only with the lawyers.

    All is very simple – we do not deal with cheaters. You are cheaters – so we are not going to deal with you anymore. You can take your money (initial deposit) and leave.
     
  9. Shuvalov

    Shuvalov LiteForex Representative

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    Mr. Cheng Yee Wong and Mr. Wang Suyun,
    We have already stated our official position. You can find it here: http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/16613-liteforex-block-my-account-steal-my-profit.html
     
  10. syking

    syking Recruit

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    LiteForex think I and another person is the same person.
    Of course, we are not!

    I can provide any documents to LiteForex to prove, I am different person.
     

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