1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Help , Some one call the police for InstaForex .

Discussion in 'Scam Alerts' started by zx10, Jan 27, 2010.

  1. zx10

    zx10 Private

    Joined:
    Apr 3, 2008
    Messages:
    21
    Likes Received:
    0
    Hi All,
    this problem happened with me 2 months a go , and i did not report it in that time because i though that it`s a normal problem and i`m the only responsible for this problem.

    but 2 weeks a go it`s happened again but by the opposite case , so i wonder how come this problem happen in the 2 ways? ,
    since there was almost war between Insta and some of their Traders and the fact that they don`t deal really with a real bank or real market and all the deals pass to the dealing desk so i began to be more skeptic about that my problem caused by their dealing desk , not by me or by the MetaTrade platform.

    Ok , enough with this introduction and let me explain what was my problem:
    in the 16 th of last Nov i open a buy GbpUsd position ( pip = $10) , but the price went down and i lost some good money in it and in another buy position - i opened after the first one but the price continue to went down and i close the second position with a lose of $480 .

    now lets back to the open losing deal , after i got $480 lose i though to hedge the open deal till i can clearly know where is the trend direction , but i make a mistake and submit a pending sell stop order higher than what i suppose to submit by 8 pips.

    now the price went down again and activate the hedge order , then back to the bullish direction and in this case i had 2 losing deals that i couldn`t handle by the right way and i loss by the 2 deals.

    So far all of the problem looks like caused by my hands , and Insta have nothing to do with this problem , but the real problem is that the hedge position activate ( opened ) when i had in my equity only $181 while according to their multiple support persons it should be at least %100 of the margin .
    mean that in my case it should be at least $325( the required margin for gbpusd position pip = $10) in my equity , but as you will see i had only $181 instead the $325.

    so the million dollar question is HOW & WHO ACTIVATE THIS HEDGE ORDER?

    i think that the answer is very simple , the dealing desk did it , who else can control these orders?.

    Maybe some one wonder why i did not report this problem when it`s happened? , why it`s take so long for me to figure that i have been scammed?

    well,the last days i notice that many of my hedge positions canceled by the dealer , while i was have in my equity at least %90 or more from the margin , and i was wonder why is that.
    also the last 3 weeks i figured that Instaforex is not fair , honest company because they said that they are allowing scalping and push the traders to try this way in trading by providing to them scalping contest, while they have in their TOS that you have to wait at least 2 minutes before you be able to close any deal , or it might be not considered in your balance.

    and many other things i read in the forums about reviewing the trader history back to 6 months and if they notice any mistake they deduct it from his/her balance right a way.

    Ok, now lets see the Dummy reply i got from the Chief dealer when i contact them:
    can you imagine this answer?

    they always said that the margin call level is %30 and the chief dealer in this company said you can hedge any order when you have %25 of the margin only.

    lets pass the margin call level , but what about their support answers?
    Darika here in talk gold said that it`s require %100 of the margin
    the life support Alexander said that you have to have at least %130 of the margin, the Arabian support in the Arabic forums said that it must be at least %100 , so how come all of those ppl said some thing and the chief dealer said something else?

    here is the images of the chief dealer replies and my statement with a detailed chart for the that period:

    1-
    [​IMG]

    2-
    [​IMG]

    3-
    [​IMG]

    4-
    [​IMG]


    here is the statement:
    [​IMG]

    and here is the detailed chart:
    [​IMG]
     
    #1 zx10, Jan 27, 2010
    Last edited: Aug 29, 2011
  2. zx10

    zx10 Private

    Joined:
    Apr 3, 2008
    Messages:
    21
    Likes Received:
    0
    Support Confessions

    Here i`ll post the support confessions about the margin percentage that must have before activate the hedge order.

    i submitting them in a separate post because it`s very large images:

    First the live support , and please note the marked lines:

    here is a direct link to the whole chat:
    http://img40.imageshack.us/img40/6280/92555723.png

    and here it`s again in parts:
    1-
    [​IMG]

    2-
    [​IMG]

    3-
    [​IMG]


    Second , Darika in Talk gold :

    direct image to the whole page :
    http://img20.imageshack.us/img20/7307/16724297.png

    here it`s again in parts:
    1-
    [​IMG]

    2-
    [​IMG]

    3-
    [​IMG]
     
    #2 zx10, Jan 27, 2010
    Lasted edited by : Aug 15, 2015
  3. zx10

    zx10 Private

    Joined:
    Apr 3, 2008
    Messages:
    21
    Likes Received:
    0
    support Grilling

    Now for the last part of my very bad experience with Insta forex.

    the Support Torture ,

    don`t shocked when you review the images below , but just think and wonder why should for honest company to treat their traders like this?
    unless it have many things to hide:

    Torture 1
    Yahoo messenger support
    before you review the chat i would like to mention that i post this chat in 3 famous forex forums asking if my English language was so bad that caused to this support person not to respond to me ,but no one said so at all , actually some of the reviewer said that my English language better than him/her.

    direct link to the whole chat:
    http://img25.imageshack.us/img25/8883/67351014.jpg

    again in 2 parts
    1-
    [​IMG]

    2-
    [​IMG]

    Torture 2

    the live support man ,
    as you saw this person the first one give me peace of information that it must be at least %130 in the margin volume , but when i asked him to send to me this chat to my email to use it as an evidence , he refuse , and refuse , and refuse.
    see the important part from his chat

    [​IMG]
     
    #3 zx10, Jan 27, 2010
    Lasted edited by : Aug 15, 2015
  4. ernest8fingers

    ernest8fingers Master Sergeant

    Joined:
    Feb 25, 2008
    Messages:
    475
    Likes Received:
    7
    You're screwed

    You will never see one penny of that money unless you show up at their office(if you can find one)and turn one of these thieving bastards upside down and shake em till the money falls out. InstafraudX is one of the top 3 sh_t brokers of ALL time-globally! I have NEVER heard of ANY ex-client recovering funds from these sub-human slime. They are prominent Broker here under SCAM Broker section-and for good reason. Unless you are prepared to orchestrate a Broker "beatdown" you should write that money "off". They are afraid to post here now-as every word they write digs their grave deeper and exposes their scam operation to the world. I will say one thing though-they are consistent at least-consistent in stealing their clients money. :unhappy:
     
  5. zx10

    zx10 Private

    Joined:
    Apr 3, 2008
    Messages:
    21
    Likes Received:
    0
    Wow, it`s look like i`m not the only one who have been scammed by this scam company .

    i heard that they tried to bribe FPA to remove them from Black List, is this true?
     
    #5 zx10, Jan 27, 2010
    Last edited: Aug 29, 2011
  6. ernest8fingers

    ernest8fingers Master Sergeant

    Joined:
    Feb 25, 2008
    Messages:
    475
    Likes Received:
    7
    The word is "Blackmail" not bribery. This website was originally founded to expose this exact kind of criminal enterprise in hopes that they will die and go away thru lack of clients. Sadly-there never seems to be a lack of "victims". BTW-I lost about 3x more than you in my 1st 3-6 months trading Forex. Some Broker fault/most my fault thru inexperience. I stayed in and now consider myself at least an "average" Forex trader. 5 years and counting. Success can be won-just not at InstafraudX. BTW-It will not matter what you do to try and recover funds from this POS sh_t Broker. Forex 101 has concluded.:unhappy:
     
  7. cowmadagan

    cowmadagan Sergeant

    Joined:
    Dec 23, 2009
    Messages:
    393
    Likes Received:
    1
    I was really starting to think that ernest lost a lot of his pizazz, or just was getting soft with age, before I saw this post.
    Gives a feeling of solidarity to seem him back in form, just like knowing they still put prizes in Cracker Jack boxes.

    And I'm not calling ernest a cracker.
     
  8. Sibali

    Sibali Corporal

    Joined:
    Oct 21, 2009
    Messages:
    109
    Likes Received:
    0
    Moral.
    Never trade with a broker who have a dealing desk!!!
     
  9. Sibali

    Sibali Corporal

    Joined:
    Oct 21, 2009
    Messages:
    109
    Likes Received:
    0
    Another thing i noticed, you should stop yelling about it. Since you put that pending order. Well lets suppose you had the margin in your account. It would have been executed anyway.
    and the amount involved is not too big as well.
     
  10. zx10

    zx10 Private

    Joined:
    Apr 3, 2008
    Messages:
    21
    Likes Received:
    0
    Did you heard any one yelling?

    does any one heard some one yelling?

    dear Sibali,i did not create this topic to gather charity or sympathy , my only target is to expose new fraud way / activity that this Mafia , Gang doing with their traders.

    hope it`s enough clear for you.
     
    #10 zx10, Jan 28, 2010
    Last edited: Aug 29, 2011

Share This Page