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instaforex.com Review

Overall Rating: SCAM Scam Investigation >>
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Total Reviews: 158
Last Updated: 2014-08-17
Special Notes:

Scam Alert!

The FPA has confirmed a scam case against InstaForex.

Click Here to read what happened.

Scam Alert!

InstaForex is hereby blacklisted by the Forex Peace Army.  We urge traders not to open accounts with Insta Forex. If you already have an account open with them, we urge you to withdraw all of your funds immediately. If InstaForex refuses to process your withdrawal, we recommend contacting your bank and local police to see if you can file charges for internet-based financial fraud.

 

NOTICE:  October 2013: InstaMarkets is no longer licensed by the Belize IFSC.

 

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court COURT file case Cases Open - 0 | Not Guilty - 0 | Guilty - 1   reviews REVIEWS submit review
ID Filed Case Verdict
2008 2008-11-26 GUILTY

FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2008-04-30
Review: We don't have any experience using InstaForex.com as a forex broker. If you have traded forex with this brokerage, please leave a review.

igor, kyiv, Ukraine

Rating:
Date of Post:2014-08-15
Review: have numerous issues with instaforex. first of all bonus are deducted in a stupid way. you are entitled to invest 50% of the bonuses. however, you get all bonuses withdrawn when money invested into pamm accounts. more than that, they charge even more, at the end they take your own money away. i've invested 1000, got 550 bonuses and then 601 deducted. no money is returned by now, they simply do not look at your issue.
the next issue is while you are trading.
first of all, commisions are high. it could've been ok if bonuses where given as promised. but while instaforex steals your money instead of giving bonuses, the commissions look outrageous.
secondly, yuo are not allowed to have a negative available margin for trading. the orders with highets loss are automatically closed when available margin is less than zero. surpisenly enough, they do not take into account your margin call level, but available margin. even if your open positions are profitable, you'le be stopped out on the position with the highest loss.
third. i subscribed to copying trades from other traders. i would not comment on their performance, but as usually, past performance is not even close to their live trading. i do not know how they beef up the historical results but their live trading is breakeven in the best case. to cut short, i was charged 600usd from my account for being subscribed to the copy trades. however, the profits made were only 60usd and the commission to be charged had to be 30usd.
if anyone can help with appealing to the traders court, please send an email mrworld@ukr.net

Jan, Bratislava, Slovakia

Rating:
Date of Post:2014-08-07
Review: Me again ...

well ... instaforex took all my money as "clause 5.12"

5.12. When the price change, connected with the a 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).

Because I got margin call several times during news releases. When I made new deposit !!! they immediately take all my money !!

http://prntscr.com/4aml15

This is so funny how poor they are .. they need to scam people for 300 Euros !!!!! Very poor ...

And my withdrawal from June 2014 was not processed of course. It is still pending

1st class cheaters !!!!!! Do not join !!!!!!!!!

2014-07-08 Instaforex support told me my withdrawal will be processed in maximum of 5 days since I ask for withrawal.

Its already 5 days and I still dont have money and live chat still "sorry for delay" and other plain talking

I rate scam for now, if I receive withdrawal I will inform you

2014-07-06 2Star Hello all, I am client of Instaforex too, unfortunately they dont want to withdraw my money.

a, They say bitcoin withdrawals beeing processed in 1-7 hours.

Screenshot: http://prntscr.com/3zo4us

b, I asked to withdraw my money on 1st July 2014, until today 6th July 2014 I did not get my money.

Screenshot: http://prntscr.com/3zo4k1

Everytime when I visit live chat I get response like: "Sorry for delay it will be processed soon" or "It will be processed today"

So I decided to contact them:

http://prntscr.com/3zw4ql

I recievied this funny reply: :D
http://prntscr.com/3zw4wj

BitCoin is still being processed by our Finance Department as they need further analysis

"Further analysis" ? I did not scalp. I earned my money by 1 position
http://prntscr.com/3zw56f

!!!!!!!!!!!!! So looks like they dont want to pay my money, until than I advice not to join them, when I get my withdrawal will inform you !!!!!!!!!!!!!!!
Edit Review
Approved:

ZackFx, Madrid, Spain (Really Peru)

Rating:
Date of Post:2014-07-17
Review: My trading experience with InstaForex has been incredible so far. My funds are increasing considerably and InstaForex gives me more benefits just for being its client, such as a good program of bonuses. I can increase my deposits up to 250%! Contests and campaigns are good to shape your style of trading and to have the opportunity to win a lot of valuable prizes. I recommend everybody to try this broker out.

Review Moderation Team Note: 5 Star rating removed.

This review was left from the same location that "InstaForex Stephanie" registered an FPA Forums account from. She used her instaforex.com email address to register the account.

The FPA does not appreciate review spammers.

Per FPA policy, the rating on this review has been set to Zero stars.

fcm, surabaya, Indonesia

Rating:
Date of Post:2014-06-05
Review: I have been Instaforex IB for years. At the first time, they pay my commission and my clients fund without any problem. Until 2 indicents :
1. Liberty Reserve was shut down on May 2013, my clients complained that InstaForex deducted 50% of their Liberty Reserve deposits (means they steal 50% of your deposit !). And the worst is you can withdraw 50% of the fund 6 months later (Nov 2013) !!
2. Im trying to withdraw my funds on 2014, and the withdrawal processing time was getting longer than usual. I had to send many emails until its processed. I used paypal after Liberty Reserve was shut down. And the bad thing happened after they recently blocked paypal (blocked on jun / may 2014). I thought this could be really wrong with instaforex, why should the blocked paypal ?? I sensed there was something wrong with this company. I was afraid of my fund safety then I used Neteller to withdraw the rest of my fund (around $270). Withdrawal initiated
on May 29 and they didnt process it until June 4. They sent an email :

Dear Client,

Unfortunately, instaForex Finance Department regrets to inform you that your withdrawal request has been rejected by the decision of Antifraud Department .

Sincerely yours,
International Finance Department
InstaForex Companies Group

Their explanation from AntiFraud Dept :

Dear Partner,

As you know Liberty Reserve payment system had shut down. Almost all
clients which currently registered in your affiliate group replenished
through that payment system.
The situation on those accounts fall under Clause 7.7.1 of the Public
Offer Agreement, according to which all funds deposited through the
payment system that later disappears are deducted from the trading
account of a customer, as the company is not a guarantor of any
payment system, and the money received through the payment system is
stored on the company's accounts with the system enabling the company
to quickly process your withdrawal requests. So the commissions
received from these accounts are subject for cancellation too.

But as an exclusion we allow our clients to withdraw funds from
accounts deposited via Liberty Reserve in accordance with the special
conditions. In your case we would like to offer to solve the problem
as follows:
your commissions were temporarily blocked and if you attract more new
unique active clients (at least 3) with the same regular active
trading as clients 7293227,7180214, 7168289 than the blocked
commissions will be restored.

As of now, I immediately send an email to my clients to withdraw all of their fund as soon as possible to prevent these thieves steal their money. If you are an IB of this broker, dont waste your time and effort introducing this scam broker to your clients, there are a lot of honest brokers outthere you can work with. I dont want you all to learn the hard way as I did. God bless you

Muhammad Ishaq, KPK, Pakistan

Rating: No Rating
Date of Post:2014-05-10
Review: Hi sir may real account is banned in insta forex why not conform sir please help me i am very poor man i am mange in some dollar and invest in insta forex
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Bao Long Of MT5, Bandung, Indonesia

Rating: No Rating
Date of Post:2014-04-24
Review: Just want to give information that some traders in here who claimed about their accounts got DEACTIVATED used bonus money and even though they didn't realize it but Insta think they abused the bonus program and there is an agreement for bonus program. So be careful with the guys like that, not even bucket shop disable accounts easily. Its just their unrealistic expectation to get a lot of money with bonus. Shame on them, they didn't dare to explain its bonus money from forum posting openly and pretended its their real money and they got robbed. I wish FPA makes a filter for traders who trade with real money and bonus money. Oh by the way, I'm not Insta staff, so that's another wrong thing from guy like inam who can only explode and cry without give the right information as he's wrong completely in his review plus like i said, some peoples in here hide the truth they use bonus money and pretend its their real deposit.

Thank you again for FPA to show up my review, just want to give the real situation in here objectively without being emotional

inam ul haq, multan, Pakistan

Rating:
Date of Post:2014-04-22
Review: its a scan company, I made a profit of 800 dollars they deactivated my account and told me i have made in illegal ways, i asked them to tell me what is illegal of making and if they have any proof do provide me, I will request FPA to remove all positive reviews as they are scam and most probably good reviews are left by their representatives from different part of world

Review Moderation Team Note: In 2008 Instaforex earned an FPA Scam Finding. Instaforex's website has a page filled with libel against the FPA. Despite this, we moderate reviews for Instaforex using the same procedure that is used for screening out fake reviews for all other companies.

Kyrilos, Aswan, Egypt

Rating:
Date of Post:2014-04-12
Review: i have an account in instaforex since 20-4-2013
no problems with them and i make withdrawal the profit daily on moneybookers then i received it before 7 hours

muhammad shoaib, attock, Pakistan

Rating:
Date of Post:2014-03-20
Review: with this f***ing company i have been traded for 2 years,and those were 2 worst year of my life.
if you have a account of 5$ initial balance and earn some cents weekly,you will observe no problem,but i you have account of over 500$ as initial balance,and you are making several hundred buck weekly,they screw you
they cancel your profit trades
won't give you your withdrawals
their f***ing accounts checking department and their f***ing anti-fraud department
(if profit trades are fraud,why the f*** people trade??? )
its the biggest ,gigantic SCAM broker in the world

(if you are always a loser in forex,JOIN them,if you make profits don't f***ing think about opening a account with them).

2013-09-19 1 Star as long as you are losing,they are good.when you get some profit,that's the place they f*** you.i have been working with them for 2 years,they scammed me when i was making profits,it happened 2 times.
do read their "clause 5.12" in terms of service.
because when you make profit they are going to delete your money with a stamp of "clause 5.12 correction"
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