Hello All,
My name is Oluseyi Aralepo i reside in Nigeria and i have been trading with instaforex for the past four to five years now, actually i started Forex trading in the year 2007. A few days ago i placed a pending order on Usd/Cad, my order activated, it hit my TP and i made a gain of 50 pips. i then placed a withdrawal order, only to be told that my profit has been cancelled because i made a risk-free profit out of non-market situation. Below is the letter that was sent to me. Please i will like other brokers and traders to review this letter from instaforex to me. I have emailed their anti fraud department and they are yet to answer me and i have tried to withdraw my remaining money only to be told that i have insufficient fund in my account.
1. My question is what is making risk-free profit out of non-market situations ?.
2. do i not have right to place an order any time to make profit ?
3. do i not have the right to risk all my cash to trade ?
4. is placing any order riskless ?
5. i want to challenge them to put all their cash to trade on their so-call risk-free profit out of non-market situations so that they can be making money and not need to be a broker any more.
6. I will leave the Judgment to Brokers and Traders to judge them if this act is not a SCAM.
Dear Aralepo Oluseyi dipo,
This email is to inform that your account was subject to correction by InstaForex Antifraud Department by the following parameters:
166.66 || CANCEL ERROR ORDERS
The reason of correction:
Your account No. 1512850 revealed trading strategy involving making risk-free profit out of non-market situations.
The trades were cancelled by the company in accordance with the clause 5.12. of the Public Offer Agreement.
5.12. When the price change, connected with the difference between the instrument last price at market close and the instrument first price at market open, or connected with news release, leads to a profit higher than 10% of the initial deposit, the Company reserves the right to use correction of such trade financial result in the size proportionate to the difference of the abovementioned prices in pips, by means of deducting the funds with the comment "Clause 5.12. correction". In certain cases it is at the Company’s discretion to set the minimal profit change below a 10% level (of the initial deposit).
To avoid such situations, we recommend you to refrain from using trading strategies aimed at making riskless profit out of software vulnerabilities and technical setbacks since such strategies contradict the terms of the Public Offer Agreement.
If you have any questions, please email us to antifraud@mail.instaforex.com.
Our specialists are ready to provide you with professional advice on the matter.
My name is Oluseyi Aralepo i reside in Nigeria and i have been trading with instaforex for the past four to five years now, actually i started Forex trading in the year 2007. A few days ago i placed a pending order on Usd/Cad, my order activated, it hit my TP and i made a gain of 50 pips. i then placed a withdrawal order, only to be told that my profit has been cancelled because i made a risk-free profit out of non-market situation. Below is the letter that was sent to me. Please i will like other brokers and traders to review this letter from instaforex to me. I have emailed their anti fraud department and they are yet to answer me and i have tried to withdraw my remaining money only to be told that i have insufficient fund in my account.
1. My question is what is making risk-free profit out of non-market situations ?.
2. do i not have right to place an order any time to make profit ?
3. do i not have the right to risk all my cash to trade ?
4. is placing any order riskless ?
5. i want to challenge them to put all their cash to trade on their so-call risk-free profit out of non-market situations so that they can be making money and not need to be a broker any more.
6. I will leave the Judgment to Brokers and Traders to judge them if this act is not a SCAM.
Dear Aralepo Oluseyi dipo,
This email is to inform that your account was subject to correction by InstaForex Antifraud Department by the following parameters:
166.66 || CANCEL ERROR ORDERS
The reason of correction:
Your account No. 1512850 revealed trading strategy involving making risk-free profit out of non-market situations.
The trades were cancelled by the company in accordance with the clause 5.12. of the Public Offer Agreement.
5.12. When the price change, connected with the difference between the instrument last price at market close and the instrument first price at market open, or connected with news release, leads to a profit higher than 10% of the initial deposit, the Company reserves the right to use correction of such trade financial result in the size proportionate to the difference of the abovementioned prices in pips, by means of deducting the funds with the comment "Clause 5.12. correction". In certain cases it is at the Company’s discretion to set the minimal profit change below a 10% level (of the initial deposit).
To avoid such situations, we recommend you to refrain from using trading strategies aimed at making riskless profit out of software vulnerabilities and technical setbacks since such strategies contradict the terms of the Public Offer Agreement.
If you have any questions, please email us to antifraud@mail.instaforex.com.
Our specialists are ready to provide you with professional advice on the matter.
