liteforex is the biggest scam

Ala Sadeq

Private
Messages
15
Dear sirs,
First of all I should ask administration of forum to restore the profile of mr. Shuvalov. He sent the request, but still didn't get any response. So I was obliged to explain our position in the cases which were opened against us.
Every year some similar cases appear again and again. Several groups of “traders” or one "advanced trader" try to steal our company’s money cheating with the bonus. The scheme is as follows: They created many fake profiles each time taking the bonus of 30%. They can try to use $30 coupon bonus also. Then they opened buy and sell trades simultaneously. The volume of buy and sell trades was equal, so one part of the trades gave them pure loss and the other one gave them pure profit. But the point was that their profit was higher than their loss by the amount of the bonus. So they just were taking the bonuses for free with no risk. It can be even called “trading”. We stopped it, blocked their accounts and returned initial deposits.
We have significant evidences of such scheme presence. Ala Sadeq has several fake profiles in our company and it was found the crossing between IP addresses which were used to log in trading accounts belonging to different profiles. It's easier to shout "scam broker" than obey to TOS, right?
We said it last year but I should repeat again: we won't tolerate such a thing! No one of honest traders has any problem due cooperation with Lite Forex. We provide our bonuses to help our customers to maintain their margin but not for cheating so each attempt of fraud will be stopped.
in this case the company can cancel any profit with this excuse and with out showing any proof
i will not accept this , show me the other account that you talking about it and show me that the orders i the other account is simultaneously opposite my account orders otherwise its a scam
thank you every body
 

FXCobra

Banned for uncivilized conduct
Messages
337
Can't get that genuine of a client opening many fake profiles for some $30.
First, even the dumbest broker will realize that and how will the client be that stupid to make fake profiles, how will Ala(when talking about this case) withdraw the money later:confused:?
Any client knows well that the broker will discover the cheat(if exists) sooner or later.

This sentence made my day:D: "try to steal our company’s money"
I don't ever believe that bonus or free no deposit accounts that some brokers provide their clients with are ever real money or in the market trades, instead it's mostly virtual money.
It's all cheat by cheating the client into believing they are trading real in the market money.

Liteforex, you have 2 traders court open scam cases, I think it will be open for voting by next week, so if you have any proofs as you said, post it fast before the voting starts.
When it will be too late after that, because you are edging nearer to a scam finding trophy award:p
 

ElizavetaLiteForex

LiteForex Representative
Messages
13
What kind of evidence do you want? Security department has found out a profile registered at fake person, where there were found out the transactions, opposing to the transactions on your trading account. The connection between the transactions is obvious because of same pairs, same volume and the opening time. You caused damage to the company due your actions and simply tried to steal its money. After all, this bonus funds are allocated for you to trade. They can become your property only after conditions are fulfilled. You tried to transfer bonus to another account by series of transactions. The conditions of bonus promotion mean, that you need to work out but not just move it to another account! Bonus funds are generated from the company's profit so not doing any trades, what the company's earning is formed from and hence the bonus for clients, you just steal it. Notice that bonus amount is the property of company until the requirements of bonus promo are met so you just assign bonus without company's permission. We didn't steal unlike you. Your initial deposit was returned to you and only your orders were cancelled as illegal. To protect ourself we were forced to stop your fraudulent actions. We don't indulge cheaters and do not cooperate with them. This is not a matter of argument. Unfortunately such situations happen because of trading platform imperfection (the client's amount stored on balance and the company's amount stored on credit) and because of the desire of various scams take advantage of this and get a guaranteed profit with no risk. What kind of fraud on the part of the company is all about? If the first account of cheater has a profit then the second account has a losses equal to profit on the first account, but this losses include the money of cheater and the money of company as a 30% bonus. On the first account the cheater gets a profit equal to the sum of lost amount and amount of the company (30% of the deposit) on the second account. Thus the losses on the second account they cover by profit on the first account and the bonus accrued on merged account goes to their full disposal of the lucrative account. Is it not the fraud?
 

BigT1

Sergeant Major
Messages
951
Elizaveta,
In post#21 your client gave you specific permission and requested you publish his account records.
So far you have blathered on endlessly about this and that, but you needn't say a thing; just upload the multiple account records here for all to see.
You have provided nothing here of any use to anybody.
You have failed to answer any questions posed.
Keep it up and we will see you before the RAFMM arbitrator.
.
AI
 

Ala Sadeq

Private
Messages
15
Elizaveta,
In post#21 your client gave you specific permission and requested you publish his account records.
So far you have blathered on endlessly about this and that, but you needn't say a thing; just upload the multiple account records here for all to see.
You have provided nothing here of any use to anybody.
You have failed to answer any questions posed.
Keep it up and we will see you before the RAFMM arbitrator.
.
AI
thats it thank you
 

Pharaoh

Colonel
Messages
19,708
Maybe Ala Sadeq was trying a pointless method of cheating, maybe not. I would think that LiteForex would take up the offer to provide evidence.

I don't see any reason for this not to go to a vote.
 

Krachuk

Private, 1st Class
Messages
50
when i ask them they answer
Hello.
The Security Department has weighty evidence about facts of violations of the Reglament of the Company on your account 882085, and exactly evidence about facts of making fraudulent transactions by you. Illegal profit was cancelled. This is final decision.

Best regards,
LiteForex Anti-money laundering department.
Having one profile and multiple accounts under that same profile obviously means the Company has no objection to having multiple accounts or else they should have told you it is not permissible. They will not as with multiple accounts they get more deposits and stand to earn as well. So that perhaps does not seem an issue of illegality.

However, the reference to having weighty evidence leading to violation of the rules of the Company and therefore fraudulent need to be established. It is therefore, necessary for the Company to provide you the nature of the violation claimed. On your part, the question that will arise is as to how were the funds deposited (since the response is from the Anti-money laundering department). Is the paper trail of deposit clear ?

It is only fair that the Lite Forex (through Elizaveta) reveal the Accounts relevant, point out the specific transactions how they lead to violation and an attempt to defraud the Company for the benefit of all here to only establish the credibility of the Company. In fact, one specific transaction is adequate to establish who is the violater.

I hope Elizaveta will provide the above for the benefit of all and absolve themselves and preserve the fair name of Lite Forex.
 
Last edited:

Krachuk

Private, 1st Class
Messages
50
Dear sirs,
First of all I should ask administration of forum to restore the profile of mr. Shuvalov. He sent the request, but still didn't get any response. So I was obliged to explain our position in the cases which were opened against us.
Every year some similar cases appear again and again. Several groups of “traders” or one "advanced trader" try to steal our company’s money cheating with the bonus. The scheme is as follows: They created many fake profiles each time taking the bonus of 30%. They can try to use $30 coupon bonus also. Then they opened buy and sell trades simultaneously. The volume of buy and sell trades was equal, so one part of the trades gave them pure loss and the other one gave them pure profit. But the point was that their profit was higher than their loss by the amount of the bonus. So they just were taking the bonuses for free with no risk. It can be even called “trading”. We stopped it, blocked their accounts and returned initial deposits.
We have significant evidences of such scheme presence. Ala Sadeq has several fake profiles in our company and it was found the crossing between IP addresses which were used to log in trading accounts belonging to different profiles. It's easier to shout "scam broker" than obey to TOS, right?
We said it last year but I should repeat again: we won't tolerate such a thing! No one of honest traders has any problem due cooperation with Lite Forex. We provide our bonuses to help our customers to maintain their margin but not for cheating so each attempt of fraud will be stopped.
Elizaveta, your response is indeed sincerely appreciated as much as your concern for the funds of the Company well understood.

However, it would be helpful to have the "fake profiles" of Ala Sadeq/IP addresses used to log in to those different profiles and reveal the attempts to defraud your Company. If this is a case of violation leading to scam the company then certainly, we need to know so that the fair name of Lite Forex can continue to accepted as credible. This will also give an opportunity for Ala Sadeq to reveal the fact from fiction for the benefit of all.

Please confirm whether is it a fraud to one profile but have multiple accounts within that same profile ? Please confirm. Thanks again.

Thanks.
 
Top