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Liteforex Scam - close my open trade without my consent and forfeit the profit

Discussion in 'Scam Alerts' started by sootat, Aug 24, 2011.

  1. sootat

    sootat Private

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    My Name: Soo Tat
    account: 52340

    Beware that Liteforex starting to join the SCAM BROKER FAMILY. They just close my open trade without my consent and forfeit the profit I gain from the trade they closed.

    My trade was open at server time 2011.08.22 14:09 buy eurusdx 1.44280. At the time 2011.08.23 12:43, liteforex closed all my open trade without my consent! They close it at the same price the trade opened, which is 1.44280, but I'm sure at that time the eurusdx BID price much higher than that.

    They claim that they detected "fraudulent transactions" on my account. The transactions were aimed at illegal deriving bonus sum neglecting the promotion conditions but without giving me any reason.

    I'm aware that the bonus is property of the liteforex and they can cancel the bonus any time without any reason.

    But, is that also apply to forfeit my profit or closed my transaction without my consent? If yes, please point it out in your T&C so that all your user aware that their profit can be forfeit any time or they open trade can be closed by your site without any reason!

    Attached is the email conversation:

    From LiteForex:
    Hello
    We would like to inform you that our security department has detected fraudulent transactions on your accounts. The transactions were aimed at illegal deriving bonus sum neglecting the promotion conditions. All the orders on those account will be cancelled; starting deposit will be available for withdrawing. From now forward all account of your profile will be blocked.

    Best regards, Roman Baranov

    My response:
    May I know what is the "fraudulent transactions" I made?
    It's unacceptable that closing my trade and forfeit my profit.

    From LiteForex:
    Hello.
    I'm sorry, but i can't tell you that it is a nonpublic information.
    Best regards, Roman Baranov
     
  2. Shuvalov

    Shuvalov LiteForex Representative

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    Mr. Soo Tat,

    Unfortunately for you LiteForex has launched a campaign against cheaters recently. You and your accomplices are cheaters. Your account was blocked because you have been cheating with the bonus. We have been turning a blind eye to your actions for far too long. But the time for your tricks is over. We know that you have got multiple accounts with us. Be sure all of them will be blocked and all of your trades will be cancelled. You may tell your friends that the same will be with them.

    But of course you are able to take your initial deposit.
     
    #2 Shuvalov, Aug 24, 2011
    Last edited: Aug 24, 2011
  3. sootat

    sootat Private

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    Please proof it. You can claim whatever you want without the evidence.

    Why don't you specific in T&C while opening account that liteforex can cancel your profit any time without giving any reason?

    Yes, I'm able to withdraw my initial deposit but that doesn't mean liteforex is not a scam broker. User is allow to lose their money but not allow to gain profit. Now who is cheater?
     
  4. Shuvalov

    Shuvalov LiteForex Representative

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    I just wonder what you were thinking about when you decided to start cheating us. What made you think that we would tolerate it when your cheat is revealed?

    As for the proofs, please let it to me to decide what to prove. If you were an honest trader I would be spending my time on you (well, in this case your trades wouldn’t be cancelled). In your case I see no reasons to keep talking to you. I hope next time you think twice before cheating someone. Let it be a good lesson to you.
     
    #4 Shuvalov, Aug 24, 2011
    Last edited: Aug 24, 2011
  5. sootat

    sootat Private

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    Ya, cheater is a cheater, they won't feel shame on their behavior. Please don't reply here anymore cause I'm lazy to talk to you too.

    It's unlucky and nightmare to me for choosing the LiteForex.

    I'm fine if my bonus was cancel, cause in T&C clear state that the company has right to cancel it without any reason.
    But I will not tolerate the company forfeit my profit without any reason. If I were know that the company will forfeit the profit without any reason, I definitively won't even try to open account with them.

    Yes, this is indeed a good example to everyone who has the account with LiteForex and everyone else who looking for Forex broker to know about the truth of liteforex and to avoid this scam broker.

    For all current LiteForex user and others who looking for broker, please avoid this broker. If you have any deposit with them, don't trade, just change the broker. There are many good broker out there, don't risk your money with this SCAM BROKER. I believe now they having financial problem and force them to scam their user with various reason.

    This is a real case:
    If you deposit a huge money to LiteForex, and you lose money. You are a good trader. But if you deposit and won a huge money, you're definitely a cheater!!!! You can only withdraw your initial deposit but not the profit you earn!!! You're being declare as cheater without any proof. They can claim 100 of reason for that without any evidence. They can claim whatever they like!!!

    You may still can trade with them and withdraw the profit, but eventually one day, you will feel the same bad luck as me.

    To FPA,

    Can be put a scam status for liteforex to warm others?

    PLEASE BE WARN:
    LITEFOREX.ORG = SCAMMER BROKER
     
  6. Pharaoh

    Pharaoh Colonel

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    I would be interested to see what evidence LiteForex has regarding cheating. Since sootat asked for it, there shouldn't be any confidentiality issues as long as names and addresses aren't posted.
     
  7. sootat

    sootat Private

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    Ya, cheater is a cheater, they won't feel shame on their behavior. Please don't reply here anymore cause I'm lazy to talk to you too.
     
  8. sootat

    sootat Private

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    It's unlucky and nightmare to me for choosing the LiteForex.

    I'm fine if my bonus was cancel, cause in T&C clear state that the company has right to cancel it without any reason.
    But I will not tolerate the company forfeit my profit without any reason. If I were know that the company will forfeit the profit without any reason, I definitively won't even try to open account with them.

    Yes, this is indeed a good example to everyone who has the account with LiteForex and everyone else who looking for Forex broker to know about the truth of liteforex and to avoid this scam broker.

    For all current LiteForex user and others who looking for broker, please avoid this broker. If you have any deposit with them, don't trade, just change the broker. There are many good broker out there, don't risk your money with this SCAM BROKER. I believe now they having financial problem and force them to scam their user with various reason.

    This is a real case:
    If you deposit a huge money to LiteForex, and you lose money. You are a good trader. But if you deposit and won a huge money, you're definitely a cheater!!!! You can only withdraw your initial deposit but not the profit you earn!!! You're being declare as cheater without any proof. They can claim 100 of reason for that without any evidence. They can claim whatever they like!!!

    You may still can trade with them and withdraw the profit, but eventually one day, you will feel the same bad luck as me.

    To FPA,

    Can be put a scam status for liteforex to warm others?
     
  9. JohnnyAK74

    JohnnyAK74 Recruit

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    Ermmm… I’ve been always able to withdraw the profit. None of my trades has ever been cancelled.
     
  10. stevesmain

    stevesmain Sergeant

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    multiple accounts

    It is not uncommon for brokers/dealers to offer clients more than one acct. in this industry.

    Why all the fuss about this! IP addresses are not always unique to one person.

    Does not the broker dealer make their money on any trade the client makes?

    If there is a bonus issue on multiple accts. then retract the bonus and limit it to one acct. But do not delete the work of a trader simply because of a silly rule. Especially in this case about multiple accts.

    The only conclusion that seems reasonable is that they do not want to pay out?

    Remember if you take away then you must give back on any bad trades too!

    All to often brokers etc. want to fall back to some rule they have in place about making corrections etc.

    Are brokers/dealers treating their clients fairly when they fall back on rules they have in place to protect themselves?
    Should it not be a 2 way street?
     

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