Please don't show your emotional at this thread. LiteForex still haven't show me any evidence & prove about regulations violation.
LiteForex Block My Account & Steal My Profit!
- Thread starter cywong
- Start date
-
- Tags
- liteforex.com
Please don't show your emotional at this thread. LiteForex still haven't show me any evidence & prove about regulations violation.
I don't think they will show any evidence.
The situation now is they want cheat our money and claim that we cheat them!!!
Email From LiteForex
I receive 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.
================================================
Regulation 1 – Public Offer Agreement P.5.14
Refer to Page 5 of terms-of-use.pdf
P.5.14. 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.
I disagree with LiteForex claims on above violation. I only have 1 verified account c.y.wong.digi@gmail.com. I have confirmed with Natalya Zhaminova (Accounts Manager) that I only have one verified profile with LiteForex. Based on following Regulation P.5.9, I would like LiteForex to provide me evidence/server log file to show me that I have multiple verified account. Based on P.5.9. In the event of disagreement concerning the state of the Client's account, parties will review records of Client's operations in the server's log-file.
Regulation 2 – “INTERNET-PARTNER” PROGRAM PUBLIC OFFER AGREEMENT P.1.8
Refer to Forex Affiliate Agreement | LiteForexPartner
Based on P.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.
Based on the above regulation P.1.8, LiteForex should not take my profit as I do not participate
affiliate program. In what circumstances that LiteForex think my profile related to syking@gmail.com
that I considered violate above regulation. I do not sign this “INTERNET-PARNTER” Program Public
Offer Agreement & LiteForex has no autohority to claim that I violate above regulations.
The relation between Wang Suyun and I (Wong Cheng Yee) is friend. We are neither partner nor
relatives. Sharing IP address is very common in Singapore. From here, I want to declare that I am
Wong Cheng Yee with Passport number is A17746000 and I am from Malaysia, Suyun Wang is from
P.R.China. We are 2 different persons.
No Regulation to Take My Profit
I have gone through all the signed agreement with LiteForex. There is no single regulation that
LiteForex has permission to take my profit. LiteForex does not provide me with sufficient evident
to prove that I have violate their regulation. I do not violate any regulations & LiteForex has no
authority to block my account & only refund me with initial deposit.
Account Blocking
LiteForex has blocked my trading account 106299 & 111172 without advance notice.
Balance Of My Active Account
Balance of Trading Account 106299 - 4372.86 EUR
Balance of Trading Account 111172 16, 647.12 EUR
Total Balance(106299 + 111172) - 21, 019.98 EUR
LiteForex Initial Deposit Refund - 5, 372.74 EUR
Full Refund (Intial Deposit + Profit) 21, 019.98 EUR
LiteForex should refund (Full Refund = Initial Deposit + Profit) 21, 019.98 EUR to me.
I receive 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.
================================================
Regulation 1 – Public Offer Agreement P.5.14
Refer to Page 5 of terms-of-use.pdf
P.5.14. 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.
I disagree with LiteForex claims on above violation. I only have 1 verified account c.y.wong.digi@gmail.com. I have confirmed with Natalya Zhaminova (Accounts Manager) that I only have one verified profile with LiteForex. Based on following Regulation P.5.9, I would like LiteForex to provide me evidence/server log file to show me that I have multiple verified account. Based on P.5.9. In the event of disagreement concerning the state of the Client's account, parties will review records of Client's operations in the server's log-file.
Regulation 2 – “INTERNET-PARTNER” PROGRAM PUBLIC OFFER AGREEMENT P.1.8
Refer to Forex Affiliate Agreement | LiteForexPartner
Based on P.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.
Based on the above regulation P.1.8, LiteForex should not take my profit as I do not participate
affiliate program. In what circumstances that LiteForex think my profile related to syking@gmail.com
that I considered violate above regulation. I do not sign this “INTERNET-PARNTER” Program Public
Offer Agreement & LiteForex has no autohority to claim that I violate above regulations.
The relation between Wang Suyun and I (Wong Cheng Yee) is friend. We are neither partner nor
relatives. Sharing IP address is very common in Singapore. From here, I want to declare that I am
Wong Cheng Yee with Passport number is A17746000 and I am from Malaysia, Suyun Wang is from
P.R.China. We are 2 different persons.
No Regulation to Take My Profit
I have gone through all the signed agreement with LiteForex. There is no single regulation that
LiteForex has permission to take my profit. LiteForex does not provide me with sufficient evident
to prove that I have violate their regulation. I do not violate any regulations & LiteForex has no
authority to block my account & only refund me with initial deposit.
Account Blocking
LiteForex has blocked my trading account 106299 & 111172 without advance notice.
Balance Of My Active Account
Balance of Trading Account 106299 - 4372.86 EUR
Balance of Trading Account 111172 16, 647.12 EUR
Total Balance(106299 + 111172) - 21, 019.98 EUR
LiteForex Initial Deposit Refund - 5, 372.74 EUR
Full Refund (Intial Deposit + Profit) 21, 019.98 EUR
LiteForex should refund (Full Refund = Initial Deposit + Profit) 21, 019.98 EUR to me.
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RahmanSL
Major
- Messages
- 2,938
"You guys are opening 50,000 or more Euro accounts and didn't make sure to use different IPs to stay within the broker's rules?"
Hmmm...and here I am with my usd50 account, burning the midnight lamp pouring over the wordings and meaning on my Broker's T&C and sick with worry that I have somehow & somewhere missed out on an ambiguous word or sentence that could render me as cheating and all my hard earned profits forfeited/confiscated....hmmmm.
Hmmm...and here I am with my usd50 account, burning the midnight lamp pouring over the wordings and meaning on my Broker's T&C and sick with worry that I have somehow & somewhere missed out on an ambiguous word or sentence that could render me as cheating and all my hard earned profits forfeited/confiscated....hmmmm.
Hello Pharaoh,
I am open my MT4 in dedicated server.
Singapore is a small island.
Our ISP has very limited IP address.
IP address sharing is very common in Singapore.
It could be every 100+ users sharing the same IP address.
I would get a formal letter from my ISP to prove this.
For Your Information, I do not sign following agreement & LiteForex do not have authority to block my account & refund me with initial deposit.
================================================
Based on P.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 just want to get back what i have.
LiteForex not suppose to wipe off my profit.
Fellow trader, I need your support on my case to show that
LiteForex do not have authority block my account & take my profit.
LiteForex need to refund me with initial deposit + profit.
Thanks.
Last edited:
RahmanSL
Major
- Messages
- 2,938
On the serious side....
On all brokers that I have used, the main concern for using same IP for trading is in opening and using multiple accounts to receive introducer's or IB's commission as that would be referred to as "churning".
However, if more than one person uses the same IP address but does not receive any sort of commission from the other trading account, then it should be ok. A good example would be house/room mates.
As in LiteForex against CYWong case, it appears LiteForex's rep is not interested to come in here to sort this out with their client's complaint and, as such, I would vote for a pending case be opened here at the FPA for voting.
On all brokers that I have used, the main concern for using same IP for trading is in opening and using multiple accounts to receive introducer's or IB's commission as that would be referred to as "churning".
However, if more than one person uses the same IP address but does not receive any sort of commission from the other trading account, then it should be ok. A good example would be house/room mates.
As in LiteForex against CYWong case, it appears LiteForex's rep is not interested to come in here to sort this out with their client's complaint and, as such, I would vote for a pending case be opened here at the FPA for voting.
Hello RahmanSL,
Thanks for your support.
I have the same experience of staying day & night to watch my chart.
The IP address issues is only related to affiliate program that it has nothing to do with individual trader like me as I do not sign the affiliate program agreement as following
================================================
Based on P.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.
================================================
Even though someone violate above regulation, only affiliate commission will not be paid but initial deposit & profit will be pay back to the trader.
There is still a lot of LiteForex affiliater around. Island like Singapore. IP address sharing is so common. If one day, his trader has accidently use the same IP address as his affiliater. Then affiliater's profit will be wiped off too. It happens not only in Singapore but Malaysia too. There is one trader has reported his case in Malaysia LiteForex group. Who is going to be LiteForex affiliater if the system is unfair?
Fellow trader,
I need your support & vote on my case to show that
LiteForex do not have authority block my account & take my profit.
LiteForex need to refund me with initial deposit + profit.
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