Liteforex scam

[Pharaoh]

I'm going to have to concur with BigT1 on this. It looks like LF has taken towards the dark side. Close any open trades. Withdraw all but 1 cent from the account (so they have to keep it open). Once the money arrives, then fight hard for your confiscated profits.

 

[Thai_trader]

I am very much wondering why FPA does not even list lite forex as having an open case. Is FPA in on this whole cover up as well?

 

[BigT1]

I am very much wondering why FPA does not even list lite forex as having an open case. Is FPA in on this whole cover up as well?

Thai_trader,
I have sent you a private message regarding this post. I suggest you read it, and consider revising your assertion here.
.
Anthony Ingrassia, CTA

 

[Thai_trader]

Hi BigT1,

I have submit a court case to FPA about 2 weeks ago, however i didn't get any feedback from them, that's why i wonder why FPA didn't take any action as soon as i submit the court case to help me and help others from scam by Liteforex?Is FPA really helpful in preventing scam??

Also, i submit the complaint to RAFMM, also didn't get reply after i email them what they asked for evidence, may like what Pharaoh and others say, this RAFMM is the same guy that scamming in Liteforex, there's no point to do the complaint to them. But i wonder why there's no action from FPA too?

My comments were made in regard to this assertion that a case was opened with FPA. Is this a blatant lie on the behalf of the poster or did he open a case? If he opened a case why is no open case being listed on FPA?

Forgive me if I have offended others here but I see that lite forex is/has help many withdrawals for longer than is listed on there terms of 3-5 working days. They make claims of fraudulent activity being the reason behind the delays but it seems quite obvious they are not properly funded as a broker to handle client withdrawal requests in a timely manner. If this is the case, it should be made clear to all current and potential clients that Lite Forex is not running a fully funded brokerage.

I have asked for clarification on these allegations of fraud such as the "bonus hunting" and have received no response. I would appreciate if LiteForex would give a clear explanation as o what constitutes fraud in their bonus system on the part of the client. I feel that if these details were made more clear then clients would have a better understanding of the choice they make when accepting the bonus and how that could effect their ability to withdraw their profits.

The Traders Court case is awaiting further input from LiteForex. Their representatives sometimes take a few days, but has always been responsive to the FPA so far. I have sent a reminder notice.

It seems clear from this response from FPA that in fact a case was initiated but yet they are waiting further input from that whom which the case was opened against before proceeding? I guess I'm just very confused as to what the process is and why nothing is being shown on any of the stats as far as a case pending, closed, resolved or what not.

 

[Pharaoh]

I'm one of the "Friends of the Court" and made the last post in the Traders Court thread. At that time, LF was publicly responding, so I suggested waiting to see what they said.

Since then, siau chi ong has not posted in his case thread. At this point, LF's failure to reply is enough to make the case public, but only if siau chi ong goes to his case thread and requests it. If he doesn't, eventually the case will be dismissed. Staying active in one's case thread is covered under the rules of filing Traders Court cases.

Personally, I have to question the motives of anyone who wants to create a dark conspiracy around this.

 

[BigT1]

Pharaoh,
Thank you for updating this thread.
Perhaps Lilik and/or Thai_trader can join this case or open parallel cases?
If an additional amicus brief is ever deemed of use, I am available to review the case involved and make a submission to the court.
AI

 

[Thai_trader]

I'm one of the "Friends of the Court" and made the last post in the Traders Court thread. At that time, LF was publicly responding, so I suggested waiting to see what they said.

Since then, siau chi ong has not posted in his case thread. At this point, LF's failure to reply is enough to make the case public, but only if siau chi ong goes to his case thread and requests it. If he doesn't, eventually the case will be dismissed. Staying active in one's case thread is covered under the rules of filing Traders Court cases.

Personally, I have to question the motives of anyone who wants to create a dark conspiracy around this.

Thank you for your reply on this. Would you please post the link for the Traders Court thread for this case in question. I would like to look through it and can't directly find it. I have personally sent a PM to siau chi ong asking how his situation resolved. I think it only benefits all for that information to be shared publicly after he started this thread.

Questioning motives is the whole reason this site is around. I seriously question the motives of a broker that claims to validate it's clients and then after the client tries to withdraw all funds (profits included) then the broker makes claims of fraudulent activity. I even saw the broker claim they were notifying local law enforcement. Then, after delaying the withdrawal by several weeks then say all is well and cleared. Even during the delay they are telling the clients not to worry. This seems very suspicious to anyone looking at it.

My main concern is whether this Broker is sufficiently funded. It seems they make claims to facilitate their delays in processing the withdrawals because they don't have the funds. If this is the case, regardless of whether the client eventually gets his funds, this needs to be made public and clear. At anytime a run to the exit doors would cause this broker to collapse and clients would have very hard time getting any money out. With no valid regulatory body responsible for liteforex I fear things are going to get very bad.

I anxiously await some response from liteforex on this matter as questions about their statements have been made and they have yet to respond with legitimate answers.

Moderation Team Note: Threads in the Case Preparations folder are only accessible to those with Friends of the Court status and by representatives of the accused company in some cases. This allows for private discussions and negotations to be done. If the case proceeds, then it is moved to the Open Cases folder where everyone can see it.

 

[Lilik]

LITE FOREX really scam

i receive this notification from liteforex


Hello.

The Security Department of LiteForex has completed the checking on your accounts. Due to the result of the revision by the security and risk management departments of the Liteforex Group of Companies there were found significant violations of the Reglament of the Company, on your account 875662 were found fraudulent transactions to get the illegal profit in the bonus programm. Illegal profit was cancelled. Your accounts are unblocked. The initial deposit is available for withdrawal or further trade.

Best regards,

LiteForex Anti-money laundering department.


they say, i can WD my initial deposit...
but...my balance in account = -51.50



in this acc, i just 2times open position
my 1st order profit $312.50 than WD my profit and i get my money in 2 days...

than 2nd order profit about $367.50, after it...i WD all of my fund in that account $712.50
but in my 2nd WD request...they check my account, and say my profit is ILLEGAL, so they cancel my profit...
so in my mind...they will cancel my 2nd profit only, cz my WD is after 2nd profit...
but why they cancel my 1st profit too ($312.5)...so my balance goes to -51.50

what must i do to get my money....

 

[BigT1]

. . . Your accounts are unblocked. The initial deposit is available for withdrawal or further trade.
they say, i can WD my initial deposit . . .
what must i do to get my money....

Lilik, You are dealing with a criminal enterprise!
Take whatever you can get back from them first; then we can argue with the firm and the regulators to get the rest, later.
Be grateful to get back anything at all!
.
I repeat: Take what you can get NOW!
.
Anthony Ingrassia, CTA
NFA ID#: 0278164

 

[Lilik]

Lilik, You are dealing with a criminal enterprise!
Take whatever you can get back from them first; then we can argue with the firm and the regulators to get the rest, later.
Be grateful to get back anything at all!
.
I repeat: Take what you can get NOW!
.
Anthony Ingrassia, CTA
NFA ID#: 0278164

i'll try,but i dont know what must i do again... T_T

should i create new thread about my case in Scam Alerts Folder ???