PENDING RESOLUTION Case# 2012-090 | Ala Sadeq vs liteforex.com

Based on the available evidence, do you believe that LiteForex is guilty?

  • Guilty

    Votes: 70 97.2%
  • Not Guilty

    Votes: 2 2.8%

  • Total voters
    72
  • Poll closed .
It seems liteforex can invoke anti-money laundering as a reason to refuse to pay out, to suit themselves. Keep up the fight!
 
These are out right cheats. You broke the rules when trading they say. But do they refund their customers when they lose saying you lost but because your trading was against the rules, here is your money.

These guys deserve to be out of business, period. Keep up the fight!
 
This is not like the other case Rajiv's that involved news trading. The times on the transactions show hours and not minutes.

I find it HIGHLY disturbing when look at statement 882085. It would be helpful to have the server/GMT times. The first set of trades appear to have been hit at the absolute high (including spread) but I am not sure my times line up.

I do recommend that Forex Peace Army or Ala Sadeq request the server log entries used to determine this "weighty evidence" of abuse. Per the terms of use those logs are supposed to be the only evidence used by either party is a dispute; i.e. MetaTrader logs and entries don't count. Unless those logs can substantiate abuse, this is a clear cut case of fraud for me.

Note: For many brokers, include a number of NFA brokers, the MetaTrader logs and statements are NOT considered to be the final records for a transaction.
 
Lite forex, a replcant of prime4x

this is a genuine case, it has to be fought out by FPA.
remember, it happened to most of us with PRIME4X and they stole away our money like that.
pls, something must be done to stop the scams.
unless, it is likely they crash on-line forex market IN THE World.
 
Now that is outrageous - they are saying we cancel the account but will not tell you why - Should there be suggestions on FPA about Regulation authorities and perhaps also T&Cs examples to beware of
 
What stinks about this case is the broker's use of the words "fraudulent" and "illegal" when talking about the traders's activities. It's on thing to have trades that don't comply with the lame TOS of a broker, but for the broker to call that illegal and fraudulent seems like slander to me. What laws from what country were broken exactly? Who was defrauded other than the trader himself?
 
What stinks about this case is the broker's use of the words "fraudulent" and "illegal" when talking about the traders's activities. It's on thing to have trades that don't comply with the lame TOS of a broker, but for the broker to call that illegal and fraudulent seems like slander to me. What laws from what country were broken exactly? Who was defrauded other than the trader himself?

Hi Ala,

Oh man this one reeks like a dead rat-
It would be laughable if it was not serious for they attacked you for what they have done and may still be doing themselves.
But this is typical criminal behaviour - I was in 2 minds until i read that. Ala the sooner you get away from them the better phew!!!.
Thank you for informing us all - 50000 people will read this and now we all know who they are and what they do. If they have any decency they will come to the table with FPA to set this straight quickly and civilly. Good luck in the future Ali, wishing you all the best.
 
thank you every body
they keep saying that i cheat but sure with no proof
now they Claims that i created many fake profiles each time taking the bonus of 30%.
hats not right and am sure that they cant proof it, if they are honest am waiting them to show me and show everybody Here the other account that they talking about it and show me that the orders in the other account is simultaneously opposite my account orders otherwise its a scam

by the way i wasn't trade at news time
 
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