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LiteForex Disabled My Account & Wiped Off My Profit!

Discussion in 'Scam Alerts' started by WAN MOHAMAD FESOL, Sep 22, 2011.

  1. WAN MOHAMAD FESOL

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    Hi all,

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

    For your information, these screen shot is taken after Liteforex Enable my account on 25 August 2011 at GMT +8. On the MT4 Screenshot, please refer the price and time on every opened position and closed position. Liteforex Blocked/Disabled all my account (on 17 August 2011 Liteforex trading server time) and closed every position in these account right after all trading position hit the TP point on. And also they steal away all the profit from every account. As a result, the profit become zero "0" and I only can withdraw the initials deposit and got paid for it on Friday 2 September 2011. Please think twice before you trade with this broker. All this might be happen to you. I think this broker is trade against the trader and they will not pay us on the big profit we have made. They will create a lot of excuses and not paying us the profit. This is real and it happened to me. Attached here is the proof of screenshot and the fact that happened to me.

    Regards,

    WAN MOHAMAD FESOL WAN AB HAMID
     

    Attached Files:

    #1 WAN MOHAMAD FESOL, Sep 22, 2011
    Last edited: Sep 30, 2011
  2. athenafx

    athenafx AthenaFx Representative

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    Hello WAN MOHAMAD FESOL

    I understand that you should be very disappointed with them.

    Of course you cannot trade with LiteForex or InstaForex and many others.

    Why choosing them instead of opening a trading account with a bank ?
     
  3. cywong

    cywong Corporal

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    Hello AthenaFX,

    It is not the time to argue.
    It is a time to get our money back.
    Stop Others From Trading with LiteForex.
    There is already 7 victims in our region.
    We want to file a lawsuit to against LiteForex.

    Thanks.
     
  4. Akash Ahmed Rubel

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    hello yes i have stopped trade with them about one years ago
    they are really scam really
    they will give you so many reason use alertpay
    and make dispute
     
  5. cywong

    cywong Corporal

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    Hello Akash,

    Report your case here.
    We will get all victims together to fight for it.

    Thanks.
     
  6. RahmanSL

    RahmanSL Major

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    WAN MOHAMAD FESOL, after reviewing your screenshots, I can only deduced that LiteForex did indeed closed all your profitable trades internally at your TP level and take away all your profits.

    Due to many similar cases posted here, and the reluctance of their (LiteForex) representative to post exactly how "cheating" was carried out by their many clients, I think it's time AsstModerator put LiteForex under the FPA court for votes of "guilty" or "Not Guilty".
     
  7. cywong

    cywong Corporal

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    Hello RahmanSL,

    I believe FPA only can label Forex Broker to become scam broker.
    Can I know how can I get my money back.

    Thanks.
     
  8. cywong

    cywong Corporal

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    Hello RahmanSL,

    What is the best time to file for scam case in FPA?
    Please advise.

    Thanks.
     
  9. Shuvalov

    Shuvalov LiteForex Representative

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    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.
     
  10. cywong

    cywong Corporal

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    Mr Shuvalov,

    I don't cheat for bonus but my profit also get wiped off.
    I always ask the financial department to remove the bonus before I start trading.
    Why you do that to me.

    Thanks.
     

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