Liteforex scam using stop out policy and calculation issue

Braima

Recruit
Messages
34
On the 22/02/2021 my ECN account of over $7500 and a free margin of at least 3000 was stop out by liteforex at -6754 I wrote to them they are still fabricating rules that are not written any were in there set of rules.
After series of emails despite the fact that its categorically stated in both statements of account they sent to my email and the one I downloaded from Mt4 that was written my account was stop out -6754 they fabricate a story that my floating loss was -8226.2 and that its more than my capital, and i told them that as per there own rules i am not required to cover for all floating loses until i close out all my positions, and that i am only required to provide margin to maintain my open position and as well as per this https://lite.forex/trading/account-types/ecn/ stop out can only be executed on my ECN account when my margin level get to 20% or less but as at time of stop out i had over 250% margin level.
the question is how then do you justify this kind of crafty act.
I even showed a screen shot of same account with $1097 with a floating loss of $1704 but still was not stop out because the margin level was still 59% how then can they explain this?? Do the have different rules for different people or account or are they just crafty??
How can you stop out an ECN account of over $7500 at -6754 and still claimed to have implement a zero balance policy of -800?? How is that possible??
 

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LiteForex Official

LiteForex.com Rep
Messages
45
Dear Braima,
Please note that your credit has been deducted because your floating loss exceeded your balance. The amount has been deducted correctly.
Your total losses by deals closed by stop out were 8226.07$.

According to your data your equity was in a negative area: [so]: -30.6%/-800.5/2617.7, so it means that your loss was more than your balance on this meaning: -800.
Please note that 100% bonus can be used as additional margin only and cannot be used in a drawdown.
According bonus program conditions:
Bonus funds may be used as an additional margin. Trading may not be conducted by means of credit funds only. The bonus will be cancelled if the whole of client’s own funds is lost.
According to the Client Agreement:
7.2. The Company is unconditionally obliged to start closing unprofitable transactions on condition that account Margin Level becomes lower than the margin necessary for maintain in open positions (Stop Out). The necessary margin level is indicated on the Company's site in the section “Types of trading accounts”.

Best regards,
representative of LiteForex
 

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Braima

Recruit
Messages
34
So do you mean the statement of account you sent to my email and the one I downloaded form my mt4 is wrong because according to the statement my account was stop out at -6754 and you claimed to have implement a zero balance policy of 800? How do you explain that??

And even if my floating loss was -8226.2 as you claimed, i am not required to cover for all floating loses, i am only required to have the margin to maintain my open positions and i trade on a leverage of 1:500 so please use your traders calculator and calculate the margin required for each position and add it up to see if its up-to $7500, when you do that you would know my free margin and my margin level.
until i close out all my positions, before does floating loses becomes mine as per this https://lite.forex/trading/account-types/ecn/ stop out can only be executed on my ECN account when my margin level get to 20% or less but as at time of stop out i had over 250% margin level with a free margin of at least 3000.
the question is how then do you justify this
please stop making reference to bonuses am talking about my balance not equity. Balance does not include bonuses please. And my balance was more than $7500 as at time of stop out.
Please find attached my statement of account for you information
 

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Braima

Recruit
Messages
34
Like i said my account of over $7500 was stop out at -6754 (see attached statement) so do you say that tge statement is wrong??
 

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Bluemarlin5

Private
Messages
22
1) With what amount did you start and what was the bonus ?

2) Give us numbers of your balance and floating loss in that moment, please.
 

Braima

Recruit
Messages
34
As at time of stop out i had around $7554 as balance, and the floating loss was -6754 and beside i am trading marginal trading
1) With what amount did you start and what was the bonus ?

2) Give us numbers of your balance and floating loss in that moment, please.
 

Braima

Recruit
Messages
34
Dear Braima,
Please note that your credit has been deducted because your floating loss exceeded your balance. The amount has been deducted correctly.
Your total losses by deals closed by stop out were 8226.07$.

According to your data your equity was in a negative area: [so]: -30.6%/-800.5/2617.7, so it means that your loss was more than your balance on this meaning: -800.
Please note that 100% bonus can be used as additional margin only and cannot be used in a drawdown.
According bonus program conditions:
Bonus funds may be used as an additional margin. Trading may not be conducted by means of credit funds only. The bonus will be cancelled if the whole of client’s own funds is lost.
According to the Client Agreement:
7.2. The Company is unconditionally obliged to start closing unprofitable transactions on condition that account Margin Level becomes lower than the margin necessary for maintain in open positions (Stop Out). The necessary margin level is indicated on the Company's site in the section “Types of trading accounts”.

Best regards,
representative of LiteForex
Even by your own fabrication my balance couldn’t have been at -800 as you claimed because my balance/ equity would have been = balance/ equity+ floating loss/profit
Equity/ balance = 7554+-8226.07 = -672.07 So were did you get-800 please explaIn

the true state of my account was
equity= 7554(balance) +-6754.60(floating loss)= 799.4

margin level was = (Equity / Used Margin) x 100%
(7554/6754.60) x 100% = 288.57%

so please stop the fabrication and give me back my money

thank you
 

Braima

Recruit
Messages
34
So
Even by your own fabrication my balance couldn’t have been at -800 as you claimed because my balance/ equity would have been = balance/ equity+ floating loss/profit
Equity/ balance = 7554+-8226.07 = -672.07 So were did you get-800 please explaIn

the true state of my account was
equity= 7554(balance) +-6754.60(floating loss)= 799.4

margin level was = (Equity / Used Margin) x 100%
(7554/6754.60) x 100% = 288.57%

so please stop the fabrication and give me back my money

thank you
mistake on the margin level (7554/2617.7) x 100% = 288.57%
 
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