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LiteForex Block My Account & Steal My Profit!

  • #61
  • Sep 9, 2011 9:16am Sep 9, 2011 9:16am
I remember LiteForex, I traded there long time ago. They are one of the very few brokers that allowed nanolots (0.001 lots or $0.01 per pip for eurusd) and my EA worked well on nanolots.

When I tried to withdraw, funny, there is no withdraw option on their website or via email or what have you. Its like a blackhole forex broker. Luckily, I opened an account via an IB and I managed to transfer money out from LiteForex and into another forex broker.

I didnt like LiteForex after that incident.
  • #62
  • Sep 9, 2011 10:32am Sep 9, 2011 10:32am
@CyWong. Have you tried these guys? They will work as an intermediary arbitrator between you and Lite Forex. Check them out and goodluck. http://www.4xangels.com/page.php?id=19&lng=EN intermediary arbitrators between you and the broker
  • #63
  • Edited 10:49am Sep 9, 2011 10:33am | Edited 10:49am
Quoting cywong
Hello BruceBanner,

My life is destroyed.
Thread in Forex Peace Army does not make much effect.
I have report my case in RAFMM but still no reply yet.
I have to suffer for next 10 years if i fail to get the money back.

Thanks.
Where you able to get your "Initial Deposit"?
If so, move on. You cant do anything to get the profit.

If you want to further pursue the profits, hire mercenaries to do it for you. Honestly, there is nothing you can do to make them pay-up if they so wished not to pay up.

With regards to your IP Address, this is not the first time I encountered Singaporeans sharing same IP Address. Blame that to your government. Singapore is one of the very few countries that strictly enforce Internet Content Filtering (censorship) so much so that traffic would appear to come from a single IP Address (the filter/censor machine)... First time I encountered that was back in 2004...

I do not know what was your "trading strategy/system" with LiteForex, but hedging between two brokers AKA "Profit Hedge-Transfer" is a double edge sword. If you so happened to have hedge-transfered the money to a dodgy broker, chances are said profit could be deleted and you'd end up with loss instead (just like what happened).

Dodgy brokers will always allow you to "come back and trade with us again". They do so to make you feel comfortable and this time around, in case you loose, they keep your money; and in case you win, they will NOT give you your profit. Happened to me several times.
  • #64
  • Sep 9, 2011 10:55am Sep 9, 2011 10:55am
Quoting LEXngton
@CyWong. Have you tried these guys? They will work as an intermediary arbitrator between you and Lite Forex. Check them out and goodluck. http://www.4xangels.com/page.php?id=19&lng=EN intermediary arbitrators between you and the broker
4xangels?
Check their "Partnered Brokers", some are dodgy brokers IMHO....
  • #65
  • Sep 9, 2011 11:37am Sep 9, 2011 11:37am
Quoting BurgerKing
Where you able to get your "Initial Deposit"?
If so, move on. You cant do anything to get the profit.

If you want to further pursue the profits, hire mercenaries to do it for you. Honestly, there is nothing you can do to make them pay-up if they so wished not to pay up.

With regards to your IP Address, this is not the first time I encountered Singaporeans sharing same IP Address. Blame that to your government. Singapore is one of the very few countries that strictly enforce Internet Content Filtering (censorship) so much so that traffic...
Hello Burger King,

I am happy if you can stand a point to help me to prove that Singapore has IP Sharing issues as these people simply don't believe it can happens in Singapore.
They believe I am faking my profile?
I am getting so sick to explain to these people.
Lend me a hand in solving this issues.
[email protected]
+65-94818928

Thanks.
  • #66
  • Sep 9, 2011 11:47am Sep 9, 2011 11:47am
Quoting LEXngton
@CyWong. Have you tried these guys? They will work as an intermediary arbitrator between you and Lite Forex. Check them out and goodluck. http://www.4xangels.com/page.php?id=19&lng=EN intermediary arbitrators between you and the broker
Hello LEXngton,

It looks so fake.
Are you sure it can be work?

Thanks.
  • #67
  • Sep 9, 2011 11:49am Sep 9, 2011 11:49am
Quoting BurgerKing
Where you able to get your "Initial Deposit"?
If so, move on. You cant do anything to get the profit.

If you want to further pursue the profits, hire mercenaries to do it for you. Honestly, there is nothing you can do to make them pay-up if they so wished not to pay up.

With regards to your IP Address, this is not the first time I encountered Singaporeans sharing same IP Address. Blame that to your government. Singapore is one of the very few countries that strictly enforce Internet Content Filtering (censorship) so much so that traffic...
Hello BurgerKing,

I am glad that you also from SG.
Which broker that also wipe your money off?
Let's us know about it?
I am in process of appealing to their regulation body, RAFMM.
It looks fake to me but there is the only way I can go for.
I am about getting insane when I know about this issues.
Hope to get to know you one day later.

Thanks.
  • #68
  • Sep 9, 2011 7:19pm Sep 9, 2011 7:19pm
Quoting cywong
Hello BurgerKing,

I am glad that you also from SG.
Which broker that also wipe your money off?
Let's us know about it?
I am in process of appealing to their regulation body, RAFMM.
It looks fake to me but there is the only way I can go for.
I am about getting insane when I know about this issues.
Hope to get to know you one day later.

Thanks.
Im not singaporean..

Brokers that ripped me off: American Brokers, Eastern European Brokers, Cyprus/Belize/Malta/British Virgin Island Brokers, Australian Brokers, New Zealand Brokers etc... Regulated or Not, With local representatives or not, they will screw and scam just the same. The safest brokers are IMHO UK Brokers - just make sure they are active/current FSA brokers. And lastly, trade with brokers that accepts Credit Card Funding. If they dont accept, dont bother. Credit Card is your best defense against dodgy brokers. If they wanna screw you, file a complain with your Credit Card. Credit Card companies WILL ACT on your complaints; while regulatory bodies WILL NOT.

My recommendation to you, get your deposit out FIRST. Get this out ASAP. Complaining about the removal of profit is useless if this will lead them to hold on your deposit indefinitely. Like I said, complaining to any regulatory body is useless; these take YEARS to get moving.

I might sound DOOM and GLOOM and HOPELESS, but honestly, I've been there many times. You might lost $50K on this, I've lost almost $500K of profits on dodgy brokers. Many of my friends lost even more than $1M.

There is one lesson learned here: You cant win against dodgy brokers; this is why they are located in some far flung scam haven countries like Belize or British Virgin Island or Cyprus or somewhere in the middle of Russia; if they so decide NOT TO PAY, they can get away with it. Just trade with brokers accepting Credit Cards the next time for ultimate security.
  • #69
  • Sep 9, 2011 11:10pm Sep 9, 2011 11:10pm
Quoting BurgerKing
Im not singaporean..

Brokers that ripped me off: American Brokers, Eastern European Brokers, Cyprus/Belize/Malta/British Virgin Island Brokers, Australian Brokers, New Zealand Brokers etc... Regulated or Not, With local representatives or not, they will screw and scam just the same. The safest brokers are IMHO UK Brokers - just make sure they are active/current FSA brokers. And lastly, trade with brokers that accepts Credit Card Funding. If they dont accept, dont bother. Credit Card is your best defense against dodgy brokers. If they wanna screw...
Hello BurgerKing,

Sounds Ridiculous!

Thanks.
  • #70
  • Sep 9, 2011 11:19pm Sep 9, 2011 11:19pm
Quoting BurgerKing
Im not singaporean..

Brokers that ripped me off: American Brokers, Eastern European Brokers, Cyprus/Belize/Malta/British Virgin Island Brokers, Australian Brokers, New Zealand Brokers etc... Regulated or Not, With local representatives or not, they will screw and scam just the same. The safest brokers are IMHO UK Brokers - just make sure they are active/current FSA brokers. And lastly, trade with brokers that accepts Credit Card Funding. If they dont accept, dont bother. Credit Card is your best defense against dodgy brokers. If they wanna screw...
Hello BurgerKing,

Is it possible to have a chance to speak with you?

Thanks.
  • #71
  • Sep 9, 2011 11:20pm Sep 9, 2011 11:20pm
Quoting BurgerKing
Im not singaporean..

Brokers that ripped me off: American Brokers, Eastern European Brokers, Cyprus/Belize/Malta/British Virgin Island Brokers, Australian Brokers, New Zealand Brokers etc... Regulated or Not, With local representatives or not, they will screw and scam just the same. The safest brokers are IMHO UK Brokers - just make sure they are active/current FSA brokers. And lastly, trade with brokers that accepts Credit Card Funding. If they dont accept, dont bother. Credit Card is your best defense against dodgy brokers. If they wanna screw...
Hello BurgerKing,

I have no idea how can I proceed on.
I really can't afford to lose my money.

Thanks.
  • #72
  • Sep 9, 2011 11:56pm Sep 9, 2011 11:56pm
Quoting BurgerKing
Im not singaporean..

Brokers that ripped me off: American Brokers, Eastern European Brokers, Cyprus/Belize/Malta/British Virgin Island Brokers, Australian Brokers, New Zealand Brokers etc... Regulated or Not, With local representatives or not, they will screw and scam just the same. The safest brokers are IMHO UK Brokers - just make sure they are active/current FSA brokers. And lastly, trade with brokers that accepts Credit Card Funding. If they dont accept, dont bother. Credit Card is your best defense against dodgy brokers. If they wanna screw...
Hello BurgerKing,

If all broker also untrustable, what is the broker can be trusted?

Thanks.
  • #73
  • Sep 10, 2011 10:23am Sep 10, 2011 10:23am
Quoting cywong
Hello BurgerKing,

If all broker also untrustable, what is the broker can be trusted?

Thanks.
"...trade with brokers that accepts Credit Card Funding. If they dont accept, dont bother."


FXCM was my very first Broker funded via Credit Card. Currently trading at IBFX also funded via Credit Card. Both brokers I am confident. In between, I have traded with horde of brokers mostly funded via Wire Transfer.

Having "Local Presence" aka local sales office is not a good criteria for choosing a broker. Here in the Philippines 3 Forex Brokers: Performance Forex, Goldex Equitiex, and EasyForex have scammed some of my friends. They felt so secured only to cry when they cant get their money/profits. Why do you think these brokers would go out of the way to set up shop in your country? We are living in the Digital Age. Dont be fooled by the so called Personalized Service shit. Do some Due Dilligence and ask other traders around the world.

Honestly, I cant help you out on getting your money back from LiteForex. If I could, hell I should have gotten my $500K long time ago.

Like I said, if you are desperate, hire mercenaries not lawyers. You wont get your money, but you will get even.
  • #74
  • Sep 10, 2011 10:35am Sep 10, 2011 10:35am
Quoting BurgerKing
"...trade with brokers that accepts Credit Card Funding. If they dont accept, dont bother."


FXCM was my very first Broker funded via Credit Card. Currently trading at IBFX also funded via Credit Card. Both brokers I am confident. In between, I have traded with horde of brokers mostly funded via Wire Transfer.

Having "Local Presence" aka local sales office is not a good criteria for choosing a broker. Here in the Philippines 3 Forex Brokers: Performance Forex, Goldex Equitiex, and EasyForex have scammed some of my friends. They...
Hello BurgerKing.

What do you mean of mercenaries?
You are from Philippine?
EasyForex also is scam?

Thanks.
  • #75
  • Sep 10, 2011 10:37am Sep 10, 2011 10:37am
Quoting BurgerKing
"...trade with brokers that accepts Credit Card Funding. If they dont accept, dont bother."


FXCM was my very first Broker funded via Credit Card. Currently trading at IBFX also funded via Credit Card. Both brokers I am confident. In between, I have traded with horde of brokers mostly funded via Wire Transfer.

Having "Local Presence" aka local sales office is not a good criteria for choosing a broker. Here in the Philippines 3 Forex Brokers: Performance Forex, Goldex Equitiex, and EasyForex have scammed some of my friends. They...
How about GFT, Oanda, Dukascopy & Forex.com?
  • #76
  • Sep 10, 2011 10:38am Sep 10, 2011 10:38am
Quoting BurgerKing
"...trade with brokers that accepts Credit Card Funding. If they dont accept, dont bother."


FXCM was my very first Broker funded via Credit Card. Currently trading at IBFX also funded via Credit Card. Both brokers I am confident. In between, I have traded with horde of brokers mostly funded via Wire Transfer.

Having "Local Presence" aka local sales office is not a good criteria for choosing a broker. Here in the Philippines 3 Forex Brokers: Performance Forex, Goldex Equitiex, and EasyForex have scammed some of my friends. They...
I am very surprise you mention of using credit card if you have huge initial deposit? It means you can have very high credit limit. credit card transaction is expensive.
  • #77
  • Sep 12, 2011 4:45pm Sep 12, 2011 4:45pm
anyone can access the liteforex.org website?
I can't access it anymore nor their trading terminal, please help.
I think it turned to scam.
  • #78
  • Sep 12, 2011 6:03pm Sep 12, 2011 6:03pm
Quoting balut
anyone can access the liteforex.org website?
I can't access it anymore nor their trading terminal, please help.
I think it turned to scam.
Yes just pulled up http://www.liteforex.org/ but don't trade with them so dunno about their trading terminal.
  • #79
  • Sep 12, 2011 9:07pm Sep 12, 2011 9:07pm
Quoting balut
anyone can access the liteforex.org website?
I can't access it anymore nor their trading terminal, please help.
I think it turned to scam.
Hello Balut,

It is still accessible.
Stay Away From Them!

Thanks.
  • #80
  • Sep 12, 2011 9:35pm Sep 12, 2011 9:35pm
Quoting cywong
Hello Balut,

It is still accessible.
Stay Away From Them!

Thanks.
thanks a lot fot the reply guys. I think its my network connection that has a problem I can't even log on to my yahoo messenger. Thanks for the advice anyway I'll transfer to fxcm.co.uk for the micro account.
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