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Liteforex SCAM with real proof

Discussion in 'Scam Alerts' started by Rajivxxx, Nov 6, 2012.

  1. Rajivxxx

    Rajivxxx Recruit

    Joined:
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    Hi
    i am showing what happen with me under Liteforex.com
    Deposit only 100$ and start trading, make some profitable trades and reach at 145$
    and when makes last profitable trade get this email after 8-10 hours of that trade.

    liteforex_scam.
    and i see that in my account they minus -40.86$
    correction due p.6.8
    here is also attached mt4 trading history in zip file, Please see that

    after then i enter withdraw ,they send me 100$ ,but what there is no point and thinking that this is normal broker ,they always and always canceled profits from their clients trades , with their own nonsense rules, now request to those traders who still trading under them or thinking about deposit , they can just trading under them but profits are can not for withdrawals.

    i have not much time to argue with these BS brokers ,i deposit 100$ just for fun and to check these brokers, but this is also serious thing that for FPA these are crooks are still in their good books. really strange:mad:
    ______________________________________________________________________
    i know that english level is very low ,but who cares ,its not many main language :p
     

    Attached Files:

  2. FXCobra

    FXCobra Banned for uncivilized conduct

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    Most if not all brokers have nonsense cheat rules written well by lawyers to protect the broker from any future legal charge.
    If every broker want to use its rules, no client will get money back, all withdrawals will be refused for some rule excuse.

    It differs between brokers just its reputability and honesty toward its clients.
     
  3. BigT1

    BigT1 Sergeant Major

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    I received the following communication via Skype from Rajiv today along with an image of the RAFMM homepage, asking why these 4 brokers are displayed as advertisments on the regulator's website?
    I have replied privately and repeat the reply below:
    ======================================
    .
    i enter case in FPA but they neither replay on case ,nor show it for votes
    look like FPA is also group of crooks and gamblers
    ====================================
    .
    Rajiv,
    The law in Russia is very weak regarding forex. There is no true government regulation.
    To counteract their own poor reputations these 4 firms have banned together to form an SRO (Self-Regulatory Organization).
    These firms pay dues to the SRO who supposedly stands to handle customer complaints, which are submitted to binding arbitration.
    There is a complaint procedure for filing against them which you should exercise.
    I have reviewed your scalping trade history which appears legitimate.
    .
    The FPA is not a group of crooks and gamblers. It is an open forum and yes, there are there a few idiots here, as well as competent, well-intentioned people doing good work.
    I am a NFA registered CTA in the US, and am personally offended by that assertion.
    .
    Here is the official Russian Government Agency to which you can also report your issues.
    Keep them informed of both the actions of the firm and the actions of the RAFMM during the complaint process.
    RUSSIA - SECURITIES
    FEDERAL FINANCIAL MARKETS SERVICE (FFMS)
    9 Leninsky Prospect
    GSP-1, Moscow
    119991 RUSSIA

    Phone: (7 095) 935-8790
    Fax: (7 495) 935-8791
    E-mail: ktsikoun@fcsm.ru
    Internet: http://www.fcsm.ru/eng/
    .
    When I first visited your new thread earlier this month, I made no reply because you dismissed your own case by stating that this was a trivial account, so I went on to work on many other complaints from those seriously hurt. I suggest you send a private message to Pharaoh and AsstModerator if you are dissatisfied with the free services the FPA provides.
    .
    Here are some useful links:
    Russian Securities Laws
    http://www.fcsm.ru/eng/catalog.asp?ob_no=1430
    .
    Russian Corporate governance:
    http://www.fcsm.ru/eng/catalog.asp?ob_no=9073
    .
    Recent Russian Legislation:
    http://www.fcsm.ru/eng/catalog.asp?ob_no=9141
    .
    You can also make your issues known to the Banking Regulators:
    Banking Regulation and Supervision Department
    Central Bank of the Russian Federation
    12 Neglinnaya Street
    Moscow 107016,
    Russia

    Phone: ( 495) 771 91 00
    Fax: ( 495) 621 64 65

    E-mail: webmaster@www.cbr.ru
    Internet: Bank of Russia
    .
    File your RAFMM Complaint here:
    Make a complaint
    .
    Anthony Ingrassia, CTA
    NFA ID#: 0278164
    .
     
    #3 BigT1, Nov 9, 2012
    Last edited: Nov 12, 2012
  4. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    I have just invited LiteForex to join the discussion.
     
  5. PaladinFX

    PaladinFX Private

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    ... and again, not surprisingly, to no effect.
    It seems LiteForex isn't very interested in solving issues amicably.

    BigT1, very nice post.
    Apparently you spend a lot of time helping others, and you do so with impressive professional expertise.
    I admire that.


    Cheers,
    P.
     
  6. Cerberus13

    Cerberus13 Private

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    You got to love a broker who basically tells you heads I win, tails I use a special clause in the terms and conditions to get the money back. My suggestion is to always read the Terms and Conditions, as they are a very good sign if your dealing with a bucket shop.

    You just got to love how the letter is coming from the Anti-money laundering department, its the busiest department around, lol


    On a side note: be very careful when you are trading index's or stocks using forex brokers. I know it is easy, but please note that your trades are not going to a market, instead you are trading against the broker.
     
  7. ralphfx

    ralphfx Recruit

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    I think we should stick to brokers who are regulated in countries like USA, Britain, Australia and New Zealand. And I think it's very important that we give this brokers a call and talk to them and find out their license number and counter check with the regulatory body website such as FSA's website etc. We must also ensure that these brokers are trusted brokers and not because they offer us bonuses, we are traders, we need brokers to trade not to get bonuses. Cheers.
     
  8. tony orah

    tony orah Private

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    Brokers scamming traders that they need

    It is unfortunate that we have so many brokers out there scheming to short change the traders. I cannot see any merit on all these. Why should a Broker not avail a trader statement of account on daily basis that is devoid of manipulations? The Broker should settle the Trader with all previous short changes that were baseless and FPA should publish against the Broker for unwholesome acts against the trader nor matter how little the amount is.

    Orah Tony
     
  9. BigT1

    BigT1 Sergeant Major

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    PaladinFX,
    Thanks for the kind words!
    .
    and to tony orah's point, Rajiv is free to file a Trader's Court case, regardless of how small the account or dispute.
    AI
     
  10. Pharaoh

    Pharaoh Colonel

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    He's not just free to file a case. He has filed a case and it's in the Open Cases folder right now. If there's no response from LF soon, it will end up going to a vote.
     

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