Liteforex scam!!

[MikeTan]

Hi all,
I've been trading with Liteforex since months ago. Win and lose are kind of common in forex as a trader. On 3 weeks ago, I've made a profits of USD2749.20. As usual, I proceed with withdrawal. I waited for 3 days and they give me no response. Until the next day, they replied me with violation of terms & use. Claiming there's something wrong with my profile and ask me not to worry. They will take 14 working days to check. in the mean time, I keep on follow up with my issue as this is my money. They will reply you once in a while telling you not to worry.
After 18 working days, they replied me that my profits is illegal for trying to steal their bonus. I dont want their bonus. I just want to withdraw my profits!.

And best part is, they show u no evidence. They proven nothing but just don't want their client take their profits back. I've send several email to them ask them to show me the evidence and the offense that I've made. They never reply.

Please never trade with Liteforex. You never know when they are not happy with your profits.

Rgds
Mike

 

[Pharaoh]

Ask them to explain how you tried to steal the bonus.

 

[odi]

my advice in future is that as u make profits, say $300 to $500 in future not to accumulate it. i withdrew some thousands from broco bit by bit some months before they packed up

 

[FXCobra]

Can you update what happened with your case Mike??

When someone opens a case in FPA Scam Folder, why don't you follow it till the end?

Brokers who don't build on their excuses with evidences to not pay you your money are Scams.

Most Brokers who give huge bonuses are Scam and they set many rules as obligations for withdrawal like crazy number of open/close lots.

Liteforex have other Scam Cases in FPA, this cheat proof is not far from it!

Withdrawing money consistently from a broker to not get cheated later is not a basic but good for first testing of broker in terms of withdrawal.

A monthly draw if the amount is in 1000s profits is a good option as a continuing procedure for withdrawing, like this you'll be eliminating banks wire fees per transfer

 

[Pharaoh]

I have a simple suggestion that will prevent many of these issues.

DO NOT ACCEPT A BONUS.

There is an exception to this rule. If you have a broker that you've worked with for a long time, trust the broker, have gone though the bonus terms carefully, and find those terms acceptable, then you can take a bonus.

Here's another little hint - Even if it looks like they are doing it, brokers do not really give away money. They usually force so much trading volume that they'll make back any bonus 5 or 10 times over even if your account ends up at breakeven after all those trades.