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

[John Naluswa]

Liteforex should be avoided at all costs. I mean supposing you started with a $1000 acc and you build it up to say $20 000. You make a trade that earns you $3000 and they say it does not mean the rules. What do you lose? $2700!!!!! What do they do with it? Do they give it to charity? Of course not. They pocket it. What a convenient way of scamming people!

 

[insight]

Stay away from this mob

 

[Denny W]

Another same case like other case involving liteforex, but this one don't show complete history do you apply for the bonus? I have acc with this broker but not funding any more since I don't like their terms so I move on. On my short experience as long you trade by their miserable terms you will get your money. Base on available proof, again I will choose abstain.
If you get back your deposit just move on or it will ruin your psychologi
If we already good on trading stay away from this kind broker

 

[Connecting]

So their agreement limits you to only ever making 10% of your initial investment? So what has happened to people when they made over 10% and wanted to close their account as you can no longer trade for profit?
In return do they limit your losses on your account to only 10% of initial investment if yuo have a bad run? Not damn likely

 

[dbrawner]

I just voted this firm guilty in another case...

Seems they weren't completely satisfied with T&C's covering their insider hedging, they also have a slick cap on profits!!!!!

I'm still voting guilty BUT... PLEASE, PLEASE, traders.... READ THE F***ing Terms and Conditions and any other documents BEFORE sending any money or trading with a Broker.

#1 BROKERS are not your friends... they don't care if you win or lose because they make money either way when you trade.
#2 All those contracts, disclosures, T&C's, etc. are written BY THEIR LAWYERS, FOR THEIR BENEFIT; not yours.
#3 No one gives or gets ANYTHING for NOTHING... a signing "bonus" will ALWAYS cost you in the end.
#4 NEVER TRADE WITH A BROKER BEFORE CHECKING THEM OUT THOROUGHLY FIRST... Do you're homework and investigate beyond their sales literature. I don't know any hard figures but I'd guess that the majority of broker/client issues are with new traders who were too quick and too greedy.

 

[qbitz1]

I can't see how I can vote guilty if you've signed up to such restrictive T&C. It is what it is and although bad, it's what you appear to have agreed to...

 

[Pharaoh]

If LiteForex's representative had continued to reply, we might have had more information to base the vote on. Votes are done based on available evidence.

 

[Dajmond]

Liteforex should be avoided at all costs. I mean supposing you started with a $1000 acc and you build it up to say $20 000. You make a trade that earns you $3000 and they say it does not mean the rules. What do you lose? $2700!!!!! What do they do with it? Do they give it to charity? Of course not. They pocket it. What a convenient way of scamming people!

You are not right, it is necessary to carry out the Public Offer Agreement", clause 6.8. And then the company will pay all profit to you.

 

[M&Z]

Jareer i Support u

 

[nanypurwanti]

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 !!!!!!!!

Sorry guys,,
You ask FPA to mark lite as scammer. It seems that you are the other brokers' staff . I do not know exactly which broker you are belong to. I'm sure you have been payed by them...
It's normal in business, but we should play fair and keep straight on right ways...
So far, lite is good and fair enough..
Swear..!!