Problem InstaForex Steals, Scam, Fraud

[ali marub]

http://www.instaforex.com/offices.php

It sounds like they declare on themself bankruptcy or they are lack of money and they try to milk the goat as far as they can to increse there benefits,as far as i know in cases of bankruptcy one can supend is payment,though on the other side if there was not agrement from the other side to do so he can sue and ask is money back consult a lawer ,for reducing the amount they have to return,reminds me a few years ago the fall of some banks in the Uk that they return only 10% of the amounts in the accounts,better to say the goverment did ,Now in this case they are not a bank and they surely lack the support of a goverment ,i think the clients should join toghter to a ja big sue against those scammer,any way i will try to check there backround and everything,are they regulated where are there main offices that maybe other autorization can help.

Seems they have many offices in what i found some have adresses not in main cities worth checking that?Maybe Russian origin couldnt find nothing only from there page ,Virtuel offices? Eddigar any idea ? Was any one in there offices ?

 

[Pharaoh]

I have an account with instaforex with $2550. I tried to withdraw to my Instaforex mastercard they declined. what are my options.

Is there an issuing bank associated with that MasterCard? If so, contact the bank and ask them what's going on.

You can also contact MasterCard directly and ask them to check.

 

[David W]

please make a complaint to RAFMM
here the link:

Ïîäàòü æàëîáó

 

[Ammihud7]

Is there an issuing bank associated with that MasterCard? If so, contact the bank and ask them what's going on.

You can also contact MasterCard directly and ask them to check.

Thanks for your response. The Instaforex MasterCard is issued by Payoneer. I recieved the following message from Instaforex:

Dear Client,

Thank you for contacting Instaforex Support Division.
Based on our system, your withdrawal has been cancelled by Finance Dept. due to different method while depositing and withdrawal.
In this case, please contact Finance Dept. in order to get full detail which method that you can use to withdraw your fund.
Finance Department
Operating hours 07:00-16:00 (UTC+00)
E-Mail: eng.finance@instaforex.com
Yahoo Messenger: IFX.Payments
Skype: ifx.finance.consultant
ICQ: 429048404
Phones:
+7 (812) 4580389
+7 (499) 7042347


This is a very deceptive practice because the website also states:

"All InstaForex customers regardless of their location have a possibility to obtain a Debit Card in the US dollars for withdrawal of funds from their trading account. At the moment, the service of withdrawing the funds from a trading account to InsfaForex Debit Card is available to all clients irrespective of the way of depositing."

My external deposits were made using LR ($1327) & Moneybookers($102). The Balance of about $1100 is trading profits. They are claiming that because the larger deposit was made using LR that they have the right not to honor my withdrawal request.The Instaforex Finance Dept. has never answered a phone call from me (at least 10 call attempts) and has not responded to my email messages. Only Instaforex Support Division answers my emails and of course they say I need to contact Finance Dept for answers. Well today I have submitted another withdrawal request today ($1000) I will wait to see what their response will be. If $1000 payout is a problem for them, well that speaks volumes! Thanks for your assistance, I will post a progress update tomorrow.
Long live FPA!

 

[Ammihud7]

Looks to me like the RAFMM is just a nonprofit fx broker membership organization not a government regulator (I'm sure this misdirection is intentionally intended). If this problem persists I would more likely contact The Financial Regulation Agency (KROUFR). But for now I will see if they honor my second withdrawal request.

Financial Regulation Agency (KROUFR)

 

[Ammihud7]

please make a complaint to RAFMM
here the link:

Ïîäàòü æàëîáó

Participants in RAFMM
Mayzus Investment Company

Forex broker InstaForex

Forex broker LiteForex

Corsa Capital Investment Group

 

[Pharaoh]

With the fight between Mayzus and Insta, I expect that RAFMM won't be around too much longer.

Ammihud7, contact Payoneer. See if a complaint there helps you get access to your profits. Also, see if you can withdraw that $102 you deposited via MB. If not, file a complaint with MB.

 

[Master Yoda]

I dont think with payoneer it will help, as payoneer has no access or involvement in client's account. It's a pre-paid card company

 

[Pharaoh]

Notifying Payoneer that Insta is causing issues may be enough to get Payoneer to tell InstaForex to either pay customers or lose the ability to use Payoneer.

If no one complains, then Payoneer will think everything is fine.

 

[bearishfx]

I find this shocking! A broker that must be making millions through their market making activity refuses to honor and respect their clients?! realistically, how much are we talking about here, there's a great chance that if they made the right decision and subsidised these funds, that all of their clients would lose it back to them anyway!

Shocking!