AmirHazizi
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I really hope this case can be resolved quickly.
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Discuss liteforex.com (liteforex.org)
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General discussions of a financial company
Withdrawing problems with Liteforex
I have a live acc. with Liteforex for more than a year now. I started with a liteforex acc. and traded with less than $1000. I lost some money until I found my feet and then started to trade succesfully, I experienced no problems at all. After a year I funded my acc. with more money, and then had more than $10,000 and then I changed from a liteforex acc. to a realforex acc. My method of trading was very succesfull and I kept on making profits.
Then the problems began. My first shock came when they notify me that they take $2621.96 because I did not comply with rule 7.3 of their terms and conditions, which said;- 7.3. If there are obvious abuses, short-term transactions including lock trades which result in shortterm transactions (of less than 2 minutes) may be considered invalid.
I did launch a dispute, but they kept on telling me that I did not comply with rule 7.3, and that I have to change my trading strategy. I had to except it and then changed my trading strategy.
Then my second shock came, as I was making a few other winning trades and then I start to experience "off quotes" on every trade that I was trying to enter. I started to record this trades with my camcorder as evidence that even a normal trades that is not close to any news events gives me "off quotes", irrespective of the lot size that I put in.
Then I found out through research that they must be a Dealing desk (which they claimed not to be when I joined them). There were no way that they allowed me to trade anymore (I have the proof on my camcorder). I decided to move to onother broker, as I am a full time trader and this is my only income. It was clear to me that I cannot trade with them anymore.
Then came my third shock as I made my withdrawel with them on the 15/11/2011 of $12305.10. The next day they notify my that they have investigated my acc. and took another $1102.38 because I did not comply with rule 7.3 as described above. So they put my money back into my trading acc. and I have to make a new withdrawal.
I made a new withdrawal of $11202.72 on the 17/11/2011, on which they phoned me to give me my verification code and then the Lady said that it will take 3 bussiness days then my money will be in my acc.
It is now the 6th bussiness day and my money is not in my acc., and when I enquire about this, this is the answer they give to me;-
08:37
Elena Kolesnikova
Thank you. Wait, please. I'm checking.
Unfortunatelly, your request has not been processed yet. Your request is in ¬a turn now. Kindly wait, please. The thing is that our company is in the ¬process of licensing. We apologize for the inconvenience and hope for your ¬understanding.
Moreover, LiteForex company is planing to enter ¬additional service, soon our clients will be able to withdraw a certain ¬amount on their payment system without the participation of the financial ¬department. The algorithm should work well, without failures.
And one ¬more fundamental and important point, which affects the speed of processing ¬the withdrawal requests, is an introduction the work of the PAMM (s).
This is unexceptable, because they took $3724.34 because I did not comply with rule 7.3, but rule 4.2. said;- Money transfer is made within three banking days after the receipt of instruction from the Client.
I was penalised when I did not comply with their rules, now what about them, or are these rules just for the clients? Everytime I ask them when Will I have my money, then they say soon. "Soon" is not an answer.
I have also copied all the conversations that I had with them. They will not allow you to speak to a manager or someone who makes decisions. They keep on saying that I must except their "sincere apologies". When I offered them my "sincere apologies" when I did not comply with rule 7.3, then they would not except it.
My questions is;- when the Lady phoned me for my verification code, why did she not tell me that they are upgrading and that there will be a delay in withdrawals?
Where are my money now and would I receive interest or compensation to the amount that I could have made on it because of this delay?
Underneath you will find more details of this transactions.
2011-11-17 15:08:50 15638303 -11202.72 0.00 Withdrawal
2011-11-16 10:25:43 15616214 -1102.38 0.00 can_less_2min_profit_188805
2011-11-16 10:15:19 15616142 12305.10 0.00 Deposit
2011-11-15 18:47:04 15607991 -12305.10 0.00 Withdrawal
2011-10-07 15:38:56 15137037 -2621.96 0.00 cancel_less_2mins_profit
2011-09-19 19:49:15 14856383 -300.00 0.00 Withdrawal
2011-08-26 17:45:20 14542683 529.64 0.00 Internal Transfer
2011-08-26 16:05:35 14538297 10000.00 0.00 Internal Transfer
15616142 2011.11.16 10:15 balance DPST-UWC-167885: USD RET 12 305.10
15616214 2011.11.16 10:25 balance can_less_2min_profit_188805 -1 102.38
15638303 2011.11.17 15:08 balance WDRW-UWC-168507: USD 11202.72 -11 202.72
I realy need the help of Forex peace army to get my money into my acc. as soon as possible, because I am very worried about my money, I suspect something fishy is going on.
Regards
Eddy
I have a live acc. with Liteforex for more than a year now. I started with a liteforex acc. and traded with less than $1000. I lost some money until I found my feet and then started to trade succesfully, I experienced no problems at all. After a year I funded my acc. with more money, and then had more than $10,000 and then I changed from a liteforex acc. to a realforex acc. My method of trading was very succesfull and I kept on making profits.
Then the problems began. My first shock came when they notify me that they take $2621.96 because I did not comply with rule 7.3 of their terms and conditions, which said;- 7.3. If there are obvious abuses, short-term transactions including lock trades which result in shortterm transactions (of less than 2 minutes) may be considered invalid.
I did launch a dispute, but they kept on telling me that I did not comply with rule 7.3, and that I have to change my trading strategy. I had to except it and then changed my trading strategy.
Then my second shock came, as I was making a few other winning trades and then I start to experience "off quotes" on every trade that I was trying to enter. I started to record this trades with my camcorder as evidence that even a normal trades that is not close to any news events gives me "off quotes", irrespective of the lot size that I put in.
Then I found out through research that they must be a Dealing desk (which they claimed not to be when I joined them). There were no way that they allowed me to trade anymore (I have the proof on my camcorder). I decided to move to onother broker, as I am a full time trader and this is my only income. It was clear to me that I cannot trade with them anymore.
Then came my third shock as I made my withdrawel with them on the 15/11/2011 of $12305.10. The next day they notify my that they have investigated my acc. and took another $1102.38 because I did not comply with rule 7.3 as described above. So they put my money back into my trading acc. and I have to make a new withdrawal.
I made a new withdrawal of $11202.72 on the 17/11/2011, on which they phoned me to give me my verification code and then the Lady said that it will take 3 bussiness days then my money will be in my acc.
It is now the 6th bussiness day and my money is not in my acc., and when I enquire about this, this is the answer they give to me;-
08:37
Elena Kolesnikova
Thank you. Wait, please. I'm checking.
Unfortunatelly, your request has not been processed yet. Your request is in ¬a turn now. Kindly wait, please. The thing is that our company is in the ¬process of licensing. We apologize for the inconvenience and hope for your ¬understanding.
Moreover, LiteForex company is planing to enter ¬additional service, soon our clients will be able to withdraw a certain ¬amount on their payment system without the participation of the financial ¬department. The algorithm should work well, without failures.
And one ¬more fundamental and important point, which affects the speed of processing ¬the withdrawal requests, is an introduction the work of the PAMM (s).
This is unexceptable, because they took $3724.34 because I did not comply with rule 7.3, but rule 4.2. said;- Money transfer is made within three banking days after the receipt of instruction from the Client.
I was penalised when I did not comply with their rules, now what about them, or are these rules just for the clients? Everytime I ask them when Will I have my money, then they say soon. "Soon" is not an answer.
I have also copied all the conversations that I had with them. They will not allow you to speak to a manager or someone who makes decisions. They keep on saying that I must except their "sincere apologies". When I offered them my "sincere apologies" when I did not comply with rule 7.3, then they would not except it.
My questions is;- when the Lady phoned me for my verification code, why did she not tell me that they are upgrading and that there will be a delay in withdrawals?
Where are my money now and would I receive interest or compensation to the amount that I could have made on it because of this delay?
Underneath you will find more details of this transactions.
2011-11-17 15:08:50 15638303 -11202.72 0.00 Withdrawal
2011-11-16 10:25:43 15616214 -1102.38 0.00 can_less_2min_profit_188805
2011-11-16 10:15:19 15616142 12305.10 0.00 Deposit
2011-11-15 18:47:04 15607991 -12305.10 0.00 Withdrawal
2011-10-07 15:38:56 15137037 -2621.96 0.00 cancel_less_2mins_profit
2011-09-19 19:49:15 14856383 -300.00 0.00 Withdrawal
2011-08-26 17:45:20 14542683 529.64 0.00 Internal Transfer
2011-08-26 16:05:35 14538297 10000.00 0.00 Internal Transfer
15616142 2011.11.16 10:15 balance DPST-UWC-167885: USD RET 12 305.10
15616214 2011.11.16 10:25 balance can_less_2min_profit_188805 -1 102.38
15638303 2011.11.17 15:08 balance WDRW-UWC-168507: USD 11202.72 -11 202.72
I realy need the help of Forex peace army to get my money into my acc. as soon as possible, because I am very worried about my money, I suspect something fishy is going on.
Regards
Eddy
Shuvalov
LiteForex Representative
- Messages
- 232
Hello AmirHazizi,
Unfortunately any actions that contradict the TOS could lead to the delay. The processing time of your withdrawal request has been increased due to the fact that your referrals have been using the same ip-address as well as the fact that you personally registered 3 profiles with LiteForex. I have contacted our AML department and asked them to speed up your request. If there are no other violations of TOS the money will be withdrawn next week.
Unfortunately any actions that contradict the TOS could lead to the delay. The processing time of your withdrawal request has been increased due to the fact that your referrals have been using the same ip-address as well as the fact that you personally registered 3 profiles with LiteForex. I have contacted our AML department and asked them to speed up your request. If there are no other violations of TOS the money will be withdrawn next week.
AmirHazizi
Recruit
- Messages
- 8
Now I want to know, do all of my client in the register under the same ip address can not receive their money back?
It is money they all, and LiteForex no right to block all of these withdrawal.
It is money they all, and LiteForex no right to block all of these withdrawal.
Shuvalov
LiteForex Representative
- Messages
- 232
The money isn't blocked. We'll send it to your clients as soon as possible (if there are no other violations).
AmirHazizi
Recruit
- Messages
- 8
I am happy with that answer.
now I want to know, when the withdrawal process can be completed and they can all get the money?
I hope today can settle this case.
now I want to know, when the withdrawal process can be completed and they can all get the money?
I hope today can settle this case.
Shuvalov
LiteForex Representative
- Messages
- 232
Your clients requests were delayed because your actions were suspicious. Every day a good number of people try to find ways how to deceive the company. Many of them try to do it using the same ip address. That's why we have to watch such cases more carefully.
Now you'll have to wait untill everything is checked. I cannot now tell you the exact day, but most likely it will be the beginning of the next week (if there are no other violations).
AmirHazizi
Recruit
- Messages
- 8
Update status withdrawal
Okay now 6 from 8 request withdrawal my client has been done to receive payment in L/R.
Now only 2 request withdrawal still not receive payment.
Information Below :
For all information withdrawal as below :
1. Acc Number : 117161
15663702 2011.11.21 07:00 balance WDRW-LR-169238: USD 6210.51
2. Acc Number : 118282
15665273 2011.11.21 10:48 balance WDRW-LR-169288: USD 6920.65
Thanks you to Shuvalov for settle my problem and now i just wait 2 account for settle in next week.
Okay now 6 from 8 request withdrawal my client has been done to receive payment in L/R.
Now only 2 request withdrawal still not receive payment.
Information Below :
For all information withdrawal as below :
1. Acc Number : 117161
15663702 2011.11.21 07:00 balance WDRW-LR-169238: USD 6210.51
2. Acc Number : 118282
15665273 2011.11.21 10:48 balance WDRW-LR-169288: USD 6920.65
Thanks you to Shuvalov for settle my problem and now i just wait 2 account for settle in next week.
shiditrader
Recruit
- Messages
- 2
i have 2 withdrawal request still not receive to my liberty reserve account
why still pending????
my liteforex account must to check about fraud????
but i have 1 account only...
please make payment for my withdrawal...
my account number: 127460
withdrawal: WDRW-LR-169136: USD 180.00
WDRW-LR-169137: USD 103.00
date: 20.11.2011
time: 00:40
why still pending????
my liteforex account must to check about fraud????
but i have 1 account only...
please make payment for my withdrawal...
my account number: 127460
withdrawal: WDRW-LR-169136: USD 180.00
WDRW-LR-169137: USD 103.00
date: 20.11.2011
time: 00:40
Shuvalov
LiteForex Representative
- Messages
- 232
Hello shiditrader,
There’s been a problem with your withdrawal request. According to our rules if you used a certain payment system for deposit, you will only be able to use the very same purse at the very same payment system for withdrawal (see LiteForex FAQ: F.A.Q. | LiteForex). In your case there were 2 payment systems: Liberty Reserve and Perfect Money. So to receive money you need to withdraw via both of them.
There’s been a problem with your withdrawal request. According to our rules if you used a certain payment system for deposit, you will only be able to use the very same purse at the very same payment system for withdrawal (see LiteForex FAQ: F.A.Q. | LiteForex). In your case there were 2 payment systems: Liberty Reserve and Perfect Money. So to receive money you need to withdraw via both of them.
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