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

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

Hello Soo Tat,

Sound that we could be from South East Asia too.
I am from Singapore.
Give me a call at +65-94818928 asap.

Thanks.
 
I have hear a lot of this message most of time. Instead of you tell others you are fine why not you provide a better solutions for the victim or you simply don't know & look around for fun?

How do I know that it's you are a 'victim', not LiteForex?
 
Re; Liteforex Scam

The Representative of Liteforex, I think the language used in addressing this issue seem not to be healthy. Proofs will solve all these if you will supply it. We will applaud you more most especially that the initial deposit was withdrawn unlike in other similar cases with other brokers.

My fellow recruit, can you candidly convince us that there was no game some how?
 
Email From LiteForex
I receive email from LiteForex on 19 August 2011 regarding the account blocking & initial deposit refund as described in following section.

================================================
We've found out that IP address was used to create multiple different Client Profiles which is a direct
violation of p. 5.14 of Public Offer Agreement "The Client acknowledges that he/she is entitled to
register only one profile in the Client's Cabinet. Company's policy does not allow a person and
juridical entity to have multiple profiles.". Also, we are obliged inform you, that you had violated the
term of affiliate agreement:
1.8 Neither a Partner nor his relatives or any Partner’s affiliated entities may act as Referral. If any
data intersections (such as passport details, address, phone number, e-mail, IP-addresses or other)
are detected, a Referral’s account will be excluded from a Partner’s client list and commission will
not be paid for such account. Accounts operated from the same IP-address are considered as a
single active account. Due these facts your account's will be blocked for trading, but you will be able
to withdraw all your initial deposits.
Profile c.y.wong.digi@gmail.com was deposited on EUR 58570,9, withdrawed EUR 53 198.16 so you
can withdraw now EUR 5372,74.
Profile syking@gmail.com was deposited on EUR 57 408, withdrawed EUR 50 036 so you can
dithdraw now EUR 7372.

================================================

Regulation 1 – Public Offer Agreement P.5.14
Refer to Page 5 of terms-of-use.pdf

P.5.14. The Client acknowledges that he/she is entitled to register only one profile in the Client's
Cabinet. Company's policy does not allow a person and juridical entity to have multiple profiles.

I disagree with LiteForex claims on above violation. I only have 1 verified account c.y.wong.digi@gmail.com. I have confirmed with Natalya Zhaminova (Accounts Manager) that I only have one verified profile with LiteForex. Based on following Regulation P.5.9, I would like LiteForex to provide me evidence/server log file to show me that I have multiple verified account. Based on P.5.9. In the event of disagreement concerning the state of the Client's account, parties will review records of Client's operations in the server's log-file.

Regulation 2 – “INTERNET-PARTNER” PROGRAM PUBLIC OFFER AGREEMENT P.1.8
Refer to Forex Affiliate Agreement | LiteForexPartner

Based on P.1.8 Neither a Partner nor his relatives or any Partner’s affiliated entities may act as Referral.
If any data intersections (such as passport details, address, phone number, e-mail, IP-addresses or
other) are detected, a Referral’s account will be excluded from a Partner’s client list and commission
will not be paid for such account. Accounts operated from the same IP-address are considered as a
single active account.

Based on the above regulation P.1.8, LiteForex should not take my profit as I do not participate
affiliate program. In what circumstances that LiteForex think my profile related to syking@gmail.com
that I considered violate above regulation. I do not sign this “INTERNET-PARNTER” Program Public
Offer Agreement & LiteForex has no autohority to claim that I violate above regulations.
The relation between Wang Suyun and I (Wong Cheng Yee) is friend. We are neither partner nor
relatives. Sharing IP address is very common in Singapore. From here, I want to declare that I am
Wong Cheng Yee with Passport number is A17746000 and I am from Malaysia, Suyun Wang is from
P.R.China. We are 2 different persons.

No Regulation to Take My Profit
I have gone through all the signed agreement with LiteForex. There is no single regulation that
LiteForex has permission to take my profit. LiteForex does not provide me with sufficient evident
to prove that I have violate their regulation. I do not violate any regulations & LiteForex has no
authority to block my account & only refund me with initial deposit.

Account Blocking
LiteForex has blocked my trading account 106299 & 111172 without advance notice.

Balance Of My Active Account
Balance of Trading Account 106299 - 4372.86 EUR
Balance of Trading Account 111172 16, 647.12 EUR
Total Balance(106299 + 111172) - 21, 019.98 EUR
LiteForex Initial Deposit Refund - 5, 372.74 EUR
Full Refund (Intial Deposit + Profit) 21, 019.98 EUR
LiteForex should refund (Full Refund = Initial Deposit + Profit) 21, 019.98 EUR to me.
 

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Support & Help

Hello Fellow Traders & Moderators,

Really need your help & support to my case.
I look for more supportive idea from your guys & girls.
Appreciate if you can contribute your piece of ideas at here.

Thanks.
 
trivial pursuit

This dealers leaning on a silly multi acct rule that is highly questionable is a very trivial way to steal $.

The only reasonable action is to stop a trader and leave them with there profits!
Leave them with the one acct.

Never, never steal a traders profits on a trivial pretense!!!!!

Next you will find a rule about making a trade on a full moon is illegal.

The dealer is fully at fault for allowing it to continue as long as they say they have! If this is so then the only reason they are now doing this is the perpetrate a fraud! They are the thieves!
 
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