We saw this website coming on the ads while surfing google.com (not our site), and found it amazing.
“LiteForex offers revolutionary trading technology for beginner traders, and lets you start trading in the Forex market depositing just ONE DOLLAR! Your deposit appears in US cents on the Lite group accounts, so you feel like you are trading the same amount in US Dollars. This new technology allows Forex beginners to learn Forex in a REAL life situation with minimal investment!”
As usual, we glanced through the contact list and found the following: The email addresses are all over the place, including Nigeria.
(Normally seeing this in an investment/cash-related issue implies – Scam)
Some review of the scams can be found as follows:
There has been many reviews on the web that the service is a scam, however, the site has been around since 2005. This tells us that a recently registered domain cannot be trusted, neither can we assume that a site that been around that long is reliable as well.
In fact, one important clue can be found at this website at webs.com
“Our security service department has discovered attempts by unknown third parties to obtain confidential information via one of the types of phishing. Phishing is a kind of Internet cheating, the main purpose of which is the illegal acquisition of trading account holder IDs. Phishing-attack organizers use mass emails supposedly from popular brands.
In this particular case they’ve purchased the domain name liteTorex.org, that looks like the real company address liteForex.org and have made fake messages that look like they are coming from our company.
If you get an email from support@liteTorex.org or any other message that does not correspond with the official Company Web site address, please, ignore them, better yet delete them! This is an attempt to obtain the personal information of a trading account holder, with the further aim of getting his/her funds. Pay careful attention to sender email addresses!
Fake emails look like this:
Dear Sir/ Madam,
This email is to confirm that we’ll send Bonus and credited your Bonus to your Trading account Ballance.
Here the following your Trading Bonus details:
Bonus : $200
bonus will be added to your Balance at October 30, 2008
after you fullfilled the form Please Confirm Here
Please do not hesitate to contact us if you have any questions.
LiteForex.org Accounts Manager
I think the answer is pretty clear that this is a scam.