RESOLVED Case# 2013-040 | jareer vs www.liteforex.com

[jareer]

Original FPA Traders Court Submission:

I am submitting the case against: www.liteforex.com

My Case is: hello fpa ,

in 02/29/2013 liteforex cancelled my 4 orders which made 2157 $ profit and took my money when i talked to them they gave me onley 188$ i talked to them alot always the same answer and they didnt give me my money then i started writing here and i didnt get my money i noticed that ther is lots of victame of this company and thir problem is not solved pleas fpa do something thanks and sory for my english >

New thread in the Scam Alerts Folder:

• https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/24404-pleas-fpa-help-me-liteforex-they-scam.html
  

Review is submitted by jareer on 04/09/13

The company was first contacted about the issue on 02/25/13 the last contact was on 03/29/13

Details: 26.02.2013 11:22, Jareer Jareer пишет:
Hello I want to report that my statment is incorrect .
Yesterday you canceled my orders whiche made profit about 2157 $$ becuse the orders didnt exceed 2 minutes two of the order exceed the two minuts they took tow minuts and 50 second I want my money now trading account 187539 thanks .
Sent from Yahoo! Mail on Android
Dear sir,
There was held an additional investigation regarding the cancellation of orders on your account MT4-L-187539. Your claims were considered as rightful and the orders #54573908 and #54573912 were restored. Nevertheless, the security department of the company notifies that the part of funds from your account MT4-L-187539 was written off in accordance with the "Public Offer Agreement", clause 6.8. "In case the price change is related to the difference between the last instrument price before the market closing and the first instrument price at the opening of the market, or is connected with the news release, and increases profits by more than 10% of the Equity, the Company reserves the right to adjust financial result of such transactions to an amount proportional to the difference in the prices indicated above by means of funds deduction with a following comment. In some cases, the Company can set limits of less than 10% of total deposit to the minimum profit change".

Company representatives' emails: <Alexander@liteforex.com>

 

[jareer]

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[Pharaoh]

I'm following your issue in the public thread.

 

[jareer]

it have been more than 2 month and i didnt get my money andd u didnt even marked liteforex as a scame company ther is lots of complain unsolved what are u wating for ??? they are scamer and lier !!!!!!!!

 

[AsstModerator]

I've been communicating with Alexander from LiteForex about your issue and one other. I am hoping that this may result in changing of at least on policy at LiteForex that's been causing problems.

Getting issues resolved is the number 1 priority, not handing out Guilty Verdicts.

 

[jareer]

I've been communicating with Alexander from LiteForex about your issue and one other. I am hoping that this may result in changing of at least on policy at LiteForex that's been causing problems.

Getting issues resolved is the number 1 priority, not handing out Guilty Verdicts.

what about my money ??? they have to give it to me

 

[Pharaoh]

I believe that "getting issues resolved" does involve getting the money owed to traders.

Give AsstMod a little more chance to convince LF to take some steps in the right direction. I see he's already put a great big note about that 10% limit on profits on their review page.

 

[AsstModerator]

LiteForex has stopped replying to me. This case is now going to the Open Cases folder.

 

[Akintinoyea]

lite forex already said it all, carefully read the statement in their agreement which you signed and agree with terms when u register,:

Public Offer Agreement", clause 6.8. "In case the price change is related to the difference between the last instrument price before the market closing and the first instrument price at the opening of the market, or is connected with the news release, and increases profits by more than 10% of the Equity, the Company reserves the right to adjust financial result of such transactions to an amount proportional to the difference in the prices indicated above by means of funds deduction with a following comment. In some cases, the Company can set limits of less than 10% of total deposit to the minimum profit change".


Any trader that want to make more than 10% of his or her intial deposit should stayaway from lite forex.....infact i dont think anybody should still be trading with them.

 

[Onyebuchim C. Obike]

1. What is the standard timing for scalping?
2. Does liteforex allow scalping? because i presume a 2 min trade would be a very quick one.
3. The trade history records would show time of entry and exit. I think this would help.

These inquiries would help the case and decisions.