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instaforex.com Review

Overall Rating: SCAM Scam Investigation >>
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Total Reviews: 164
Last Updated: 2015-01-25
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.

 

Click here to join live discussion of instaforex.com on our forum
   
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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.

onaiyekan peter o., zaria, Nigeria

Rating:
Date of Post:2015-01-23
Review: On the 20th of this month i placed buy orders with sell stop orders for hedging my trades but the sell stop trades were deleted at the point of execution. This led to my account losing $2227.96, leaving behind a meagre $32. I have tried to check the reason for the cancellation, and have contacted them on 3 occasions. The first time (on the 21st january 2015) I was told I didn't have enough money in the account, but after I sent them a screenshot of my transactions (the third time), they refused to reply me. When I placed the trades my equity and free margin were about $1000. Avoid trading with them, because they can manipulate your trade without blinking an eye, even if it wipes out your account.

8344534, Shah rukny alam, Pakistan

Rating:
Date of Post:2015-01-19
Review: insta forex ban my account with out any reason they ban account with out any reason and told us only this mail to anit fraud and they told your account was ban beause you are forum member now tell me bonus if you give me what i not do posting there i work full month then you give us bonus fraud insta is fraud.

Hamza Najam, , Pakistan

Rating:
Date of Post:2014-12-23
Review: I ready a comment stating that all account blocked are of forum and like that, i want to reply to those who state real accounts are not blocked, i havent traded with instaforex from last 2 years, but was just working as IB, last night my account has been blocked and i had around 300 active clients, making 500 dollars of commission on daily basis, last night they blocked me i had 3000 dollars in account, i challenge them to come and face me, under what clause they deactivated my account? and if they claim any of my client did wrong, then what the hell one has to do with my commission, lastly there cannot be any sort of fraud in commission earned. forex industry is almost full of scammers, havent found any good broker so far other than 1 only

2013-09-12 1Star they are scam, they took away my 352 dollars and they are not replying their live chat ask me to contact their anticheat department, which never reply after i asked them to tell me account which i used to move the bonus, and its over 5 weeks they are not replying, fake company, never deposit a penny, their site is good their support is only good till the time you dont for withdrawal

sohail anwar, lahore, Pakistan

Rating: No Rating
Date of Post:2014-10-31
Review: sir i have problem instaforex many time block my account or when i say unblock then they say you talking antifroud so when i send email to then they say sorry i cant unblock your account so plz tell me what i do even they dont tell me why they block my instaforex account,

Adeobayemi Kunle, Lagos, Nigeria

Rating:
Date of Post:2014-10-21
Review: I do not need a soothsayer to tell me that instaforex is a scam before i know they are pure scam. If you are trading with little amount, you can still escape the scam of instaforex, but you can never have success with this broker. They disabled my trading account and that of my friends. And be very careful in dealing with Russia brokers now, they are having problem with that region at the moment. INSTAFOREX IS A PURE SCAM!!!
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Alex Omarov, Miami, USA

Rating:
Date of Post:2014-10-01
Review: Insta Forex is a SCAM !! Stay Away Traders !
I have a prove from my account , statements and journal from MT4. who interested.
Did not paid $9900 !
SCAMMERS !

Ahmad Naser, Amman, Jordan

Rating: No Rating
Date of Post:2014-09-13
Review: For me instaforex is giving me prizes and i did make earn profits through this prize bonus and i did withdraw my profits and got them in the same day request my profits
instaforex is trusted broker

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 [email protected]

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 !!!!!!!!!!!!!!!
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