Liteforex scam using stop out policy and calculation issue

Braima

Recruit
Messages
29
invite-opc.png
The OP has invited the company to this discussion on Mar 6, 2021 at 9:36 AM
 

Braima

Recruit
Messages
29
@LiteForex Official are not responding to their emails, they have blocked me from chatting on their platform, they have gone mute because they don’t have the answers to the pertinent questions i asked them, admit you are wrong and refund my money.
 

Braima

Recruit
Messages
29
@LiteForex Official you have not been responding to my emails and beside there are questions you have to answer because the figures you gave as my equity or balance does not tally with your claims because 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 recheck your data as your figures are totally wrong as indicated above and the statement of account is clear.

thank you
 

Braima

Recruit
Messages
29
@LiteForex Official you have not been responding to my emails and beside there are questions you have to answer because the figures you gave as my equity or balance does not tally with your claims because 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%
(7554/2617.7/) x 100% = 288.57%

so please recheck your data as your figures are totally wrong as indicated above and the statement of account is clear.

Please refund my money
thank you
 

LiteForex Official

LiteForex.com Rep
Messages
40
@LiteForex Official you have not been responding to my emails and beside there are questions you have to answer because the figures you gave as my equity or balance does not tally with your claims because 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%
(7554/2617.7/) x 100% = 288.57%

so please recheck your data as your figures are totally wrong as indicated above and the statement of account is clear.

Please refund my money
thank you
Dear Braima,

Kindly asking you to understand that your floating was more than your own balance. We hope that we have conclusion regarding this question.
So when bonus was deducted your balance was 7425.57 $
Floating losses as you can see were 8226.07 $ (this you can calculate by yourself from trading history)
You bonus was 6754.60 $
Margin 2617.7
Equity = balance + bonus +- floating = 7425.57 + 6754.60 - 8226.07 = 5954.1
Margin level = Equity / margin*100 = 5954.1 / 2617.7*100 = 227.46
So before your bonus was deducted your margin level was 227.46 %
We should repeat it again, your floating losses exceeded balance, and after bonus deduction margin level fell down below Stop Out level. Let’s calculate your margin level after bonus deduction:
Equity = ( balance +- floating ) = 7425.57 - 8226.07 = -800.5
Margin level: Equity / margin * 100 = -800.5/2617.7*100= -30,6%
So your margin level was below 20% Stop Out level and positions were closed automatically by server.
In previous emails we have described regulatory documents.
Accourding bonus programm conditins:
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 open positions (Stop Out). The necessary margin level is indicated on the Company's site in the section “Types of trading accounts”.
 

Braima

Recruit
Messages
29
1. As per records available, as at Friday 19/02/2021 my closing balance for that day was $7252.86 and my equity was $8105.56, so if there is any bonus on my account on 22/02/2021 it would have been = 8105.56 - 7252.86 =852.7.
So my bonus couldn’t have been $6754.60 as you claimed because i did not make any deposit before the stop out as such i couldn’t have gotten any additional bonus.(please check statement of account 19/02/2021.) Further more if you check my statement of account of Saturday 20/02/2021 you would see that my equity dropped even further.

2. On Monday 22/02/2021 before the stop out i had a profit of at least $300 (please check statement of account 22/02/2021) so as at time of stop out i had over $7555.1 as balance, and please find a screenshot of my chat with liteforex official were you admitted that my balance was about $7500.

3. Conclusively from the above information and fact, you can an see that if at all there was any bonus on my account, it would have been $852.7 not $6754.60 and my balance was $7555.1 not $7425.57 as you claim. There fore my account details is as follows

Balance/ equity = 7555.1(balance) +-6754.60(floating loss)= 800.5

margin level was = (Equity / Used Margin) x 100%
(7555.1/2617.7) x 100% = 288.61%

So please refund my money
 

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Braima

Recruit
Messages
29
Dear Braima,

Kindly asking you to understand that your floating was more than your own balance. We hope that we have conclusion regarding this question.
So when bonus was deducted your balance was 7425.57 $
Floating losses as you can see were 8226.07 $ (this you can calculate by yourself from trading history)
You bonus was 6754.60 $
Margin 2617.7
Equity = balance + bonus +- floating = 7425.57 + 6754.60 - 8226.07 = 5954.1
Margin level = Equity / margin*100 = 5954.1 / 2617.7*100 = 227.46
So before your bonus was deducted your margin level was 227.46 %
We should repeat it again, your floating losses exceeded balance, and after bonus deduction margin level fell down below Stop Out level. Let’s calculate your margin level after bonus deduction:
Equity = ( balance +- floating ) = 7425.57 - 8226.07 = -800.5
Margin level: Equity / margin * 100 = -800.5/2617.7*100= -30,6%
So your margin level was below 20% Stop Out level and positions were closed automatically by server.
In previous emails we have described regulatory documents.
Accourding bonus programm conditins:
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 open positions (Stop Out). The necessary margin level is indicated on the Company's site in the section “Types of trading accounts”.
Dear @LiteForex Official
1. As per records available, as at Friday 19/02/2021 my closing balance for that day was $7252.86 and my equity was $8105.56, so if there is any bonus on my account on 22/02/2021 it would have been = 8105.56 - 7252.86 =852.7.
So my bonus couldn’t have been $6754.60 as you claimed because i did not make any deposit before the stop out as such i couldn’t have gotten any additional bonus.(please check statement of account 19/02/2021.) Further more if you check my statement of account of Saturday 20/02/2021 you would see that my equity dropped even further.

2. On Monday 22/02/2021 before the stop out i had a profit of at least $300 (please check statement of account 22/02/2021) so as at time of stop out i had over $7555.1 as balance, and please find a screenshot of my chat with liteforex official were you admitted that my balance was about $7500.

3. Conclusively from the above information and fact, you can an see that if at all there was any bonus on my account, it would have been $852.7 not $6754.60 and my balance was $7555.1 not $7425.57 as you claim. There fore my account details is as follows

Balance/ equity = 7555.1(balance) +-6754.60(floating loss)= 800.5

margin level was = (Equity / Used Margin) x 100%
(7555.1/2617.7) x 100% = 288.61%

So please refund my money
 

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Braima

Recruit
Messages
29
@LiteForex Official please this is the same account on the 25/02/2021, with balance of $1097, the same leverage, the floating loss got as high as $1700 thats over 65% more than my balance but still was not stop out despite the fact that floating loss exceeded balance??
please do you have different rules for different occasions or was i just targeted??
 

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Braima

Recruit
Messages
29
@LiteForex
Dear Braima,

Kindly asking you to understand that your floating was more than your own balance. We hope that we have conclusion regarding this question.
So when bonus was deducted your balance was 7425.57 $
Floating losses as you can see were 8226.07 $ (this you can calculate by yourself from trading history)
You bonus was 6754.60 $
Margin 2617.7
Equity = balance + bonus +- floating = 7425.57 + 6754.60 - 8226.07 = 5954.1
Margin level = Equity / margin*100 = 5954.1 / 2617.7*100 = 227.46
So before your bonus was deducted your margin level was 227.46 %
We should repeat it again, your floating losses exceeded balance, and after bonus deduction margin level fell down below Stop Out level. Let’s calculate your margin level after bonus deduction:
Equity = ( balance +- floating ) = 7425.57 - 8226.07 = -800.5
Margin level: Equity / margin * 100 = -800.5/2617.7*100= -30,6%
So your margin level was below 20% Stop Out level and positions were closed automatically by server.
In previous emails we have described regulatory documents.
Accourding bonus programm conditins:
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 open positions (Stop Out). The necessary margin level is indicated on the Company's site in the section “Types of trading accounts”.
@LiteForex Official please this is the same account on the 25/02/2021, with balance of $1097, the same leverage, the floating loss got as high as $1700 thats over 65% more than my balance but still was not stop out despite the fact that floating loss exceeded balance??
please do you have different rules for different occasions or was i just targeted??
 

Attachments

  • 76F7A0EC-13E7-48AC-8624-2B97943ECB49.png
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