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liteforex...scam broker

Discussion in 'Scam Alerts' started by Lilik, Oct 17, 2012.

  1. Lilik

    Lilik Private

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    they cancel all of my profit from 2 acc...
    i have 2 acc, but never open opposite order between my account...
    they say.... ILLEGAL PROFIT ....
    but they cannot give me clear clarification about my illegal profit...just talk like a cock and blame their client without evidence...

    email from litefx

    for acc 875662

    "Hello. The Security Department of LiteForex has completed the checking on your accounts. Due to the result of the revision by the security and risk management departments of the Liteforex Group of Companies there were found significant violations of the Reglament of the Company, on your account 875662 were found fraudulent transactions to get the illegal profit in the bonus programm. Illegal profit was cancelled. Your accounts are unblocked. The initial deposit is available for withdrawal or further trade. Best regards, LiteForex Anti-money laundering department."

    for acc 874622
    "Hello. The Security Department of LiteForex has completed the checking on your accounts. Due to the result of the revision by the security and risk management departments of the Liteforex Group of Companies there were found significant violations of the Reglament of the Company, on your accounts were found fraudulent transactions to get the illegal profit in the bonus programm. Illegal profit was cancelled. Your accounts are unblocked. The initial deposit is available for withdrawal or further trade. Best regards, LiteForex Anti-money laundering department. "

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    #1 Lilik, Oct 17, 2012
    Last edited: Oct 17, 2012
  2. Thai_trader

    Thai_trader Private, 1st Class

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    Please post the emails that show them telling you the reason to take your profits.

    I see in one account you posted 1 profit was canceled and says "illegal profits". Normally they will add a reference to their regulations to show what rule they used to invalidate your trade.
     
  3. Lilik

    Lilik Private

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    yup i was edit my post...


    and check mr.mogammadstateh post

    same reason from litefx to stole their client profit...
     
  4. Thai_trader

    Thai_trader Private, 1st Class

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    It sounds like they are using the bonus to claim your had fraudulent trades. I hope that lite forex will come here and address this because this seems clearly not valid of them to do this.

    This is also why I have refused all bonus with this broker. It is unclear to me how what you have done is to be considered fraud with the bonus program.

    I have asked many times for explanation but none is given. I hope someone here can help you and a case should be opened with rafmm and FPA to get lite forex involved to answer these claims.
     
  5. FXCobra

    FXCobra Banned for uncivilized conduct

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    Both screenshots of charts shown are really confusing, is that your account history:confused:

    2 trades seen on each chart, balance credit, balance credit covering the rest of it!!

    And, it also shows very crazy lot size for such small accounts!?!?

    To the broker excuse, same excuse for 2 or more clients with no deep details in explanation proves that the broker is a Scam.
     
  6. Lilik

    Lilik Private

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    yup that's really my account, i can give you investor pass to check it...

    in acc 874622
    my 1st order, i closed it manually and get loss -4.9
    than open order again, and hold it more than 3weeks,until hit TP...but i can't WD that profit
    so...i just WD my initian deposit

    in acc 875662
    my 1st order, hit TP...than i WD my profit without any problem...
    in 2nd order...i cannot WD my profit...cz litefx cancel all of my profit, and make my balance goes to -51,xx
    so i cannot WD my initial deposit...

    and until now,they're never give me clear clarification about it...
    i need evidence from litefx, where is my illegal order and make my profit canceled...???

    if litefx can give some evidence and proven me doing illegal order...litefx have right to cancel my profit...

    but...they just talk bla bla bla...without any evidence....:confused:


    sorry with my english
     
    #6 Lilik, Oct 17, 2012
    Last edited: Oct 17, 2012
  7. Pharaoh

    Pharaoh Colonel

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    Were they aware that you had 2 accounts, both of which got bonuses? A lot of brokers put little traps in bonus terms that say you can only get a bonus on one account.
     
  8. Thai_trader

    Thai_trader Private, 1st Class

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    Lite forex has nothing in TOS that says you can't get bonus on every account. They even push it on you. All lite forex accounts are kept within a single user profile so they are more than aware that both accounts belong to same person.

    Creating multiple profile IS against the TOS and I have heard this be used as excuse to cancel profits. But I don't see any reason why a trader would need to open multiple profiles with lite unless it was an accident or they are trying to be deceitful. It should be obvious to lite forex which is which.
     
  9. FXCobra

    FXCobra Banned for uncivilized conduct

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    I understand that liteforex is showing Scamming with no clear evidence to backup its excuse for not paying your profits.

    But in terms of trading, next time before trading any account or opening any new live account, read some books or sites about Money Management, using that huge lot size per order for small accounts like shown in your attached charts will sooner or later blow your accounts. Be careful!
     
  10. Thai_trader

    Thai_trader Private, 1st Class

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    To be clear, the accounts and trades he is showing are not "real" accounts but rather "lite" accounts. They are cent based.

    1 standard lot = 100,000 cents or $1000 (not 100,000usd)

    So the large lot sizes you see are misleading. 1 lot is actually a micro lot (.01)
    He is trading 7 lots = .07 standard lots.. or 7000units (not 700,000 units)
     

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