Read our Livetrader review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a livetraderfx.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Livetrader is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Livetrader in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Livetrader Review Conclusions
Making the Livetrader review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Livetrader review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
http://www.livetraderfx.com
IP 185.7.35.4
appears to be WINGROUPS under another name, as they have the same details given to WINGROUPS
where I invested USD 250
WINGROUPS failed to respond to emails as to why the account was frozen at USD 520 without any
movement. an email requesting the assigned broker to call me were ignored, and the investment for all
intents and purposes is LOST
The reason I believe livetraderfx is perhaps th esame group of scammers is that the name I used with WINGROUPS is a YouTube Account name and not my real Given Name as shown below
They are purely Scam. I deposited $250 and then I changed my mind. I requested the refund. Then they told me to submit my ID proof so that they can process refund. Then some manager called me and advised that they can only refund if I make some trade. I was arguing with him that how is it money laundering. while arguing, he made traded without explaining anything and without my consent. Then disconnected my call. After two days, my trade was closed in loss. Then I again submitted my request to withdraw remaining money. Now no calls or no emails answered. No doubt, I am scammed. I requested not get my refund. Please save your hard earned money.
This particular UK based so call traders 95% are pure scam watch out for them. Another SCAM company called livetraderfx.com is FAKE. They come in all kinds of names. They would give you names like Ross Butler, Nazar, Nicole Anna. Be careful you don’t fall for this bastards. They have a downloaded software platform that you may think is real.. No don’t make a mistake pure scammers. I would break my story down later as they scammed me over $7,000.
They also scammers they don’t refund your money they will keep asking for more and more money
Don’t share your credit cards details they will take out all money from credit cards
Following are the numbers they mostly use
Ross Butler
Calvin Conner
Philip
+44 20 3994 1582
+44 7488 810487
Yes I was scam. By lifetraderfx by Ross Butler how can I post my letter to the right place so nobody as to go thru this nightmare
They have also Scammed me out of $10K and then wanted another 20% of profits to then allow the withdraw of my funds needless to say had to take the loss of my $10K
There just arseholes with no scruples whatsoever
Same scammer differents name i got crooks too for 250 usd but the company was SAGATRADE the same person who call i think there voice its really similar
Never ever get hooked by these fools,asholes, bastards. They would try to use other people to call you again and again with all kinds of different names. I said they would all die mysterious death. Also be careful some idiots will call you pretending to get your money back for you… same asholes using a different strategy.
Ya they got me too for only $300. CAD but still at the time i was not making much money and this ROSS BUTLER managed to sweet talk me into depositing the money…when i talked to support the lady told me i had to talk to ROSS BUTLER to release my funds…I never did get my money back from them….so true…those assholes…im sorry to everyone that lost money from these pricks…i wish you all better days ahead. GOD BLESS.
Yes we were scammed, Livetrader.com. Said we could withdraw if we paid tax. Apparently, Australia, UK and Canada residents had to pay tax (20%) upfront before withdrawing, we paid, have not received our funds and now the website is taken down!