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I need urgent help please , Issue with instaforex.com

Discussion in 'Scam Alerts' started by mrmoha, May 6, 2012.

  1. mrmoha

    mrmoha Private

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    some times instaforex company can cancel the deposit bonus but this time they canceled my own funds considering it as bonus :

    [​IMG]

    In 26 Avril I deposited 500$ and received 150$ deposit bonus ( the total = 650 $) , then I lost 642$ and that's mean the account contain only 8$ from the total funds ,
    In 29 Avril I deposited 460.6 $ and received 138.18 $ deposit bonus ( the total = 598.78 $), then I lost 597 $ and that's mean the account contain only about 2 $ + 8$ previous deposit bonus (the total = 10 ).

    In 29 Avril I deposited 460.6 $ and received 138.18 $ deposit bonus ( the total = 598.78 $), then I lost 597 $ and that's mean the account contain only about 2 $ + 8$ previous deposit bonus (the total = 10 ).

    In 2 may from 4 days , I deposited 500 $ and received 150 $ deposit bonus ( the total = 650 $) . I earned 580 $ and withdraw the profits without cancellation any bonuses because i haven't withdraw any of the original deposit , that's mean the account contain only about 500 $ my deposit + 150$ deposit bonus + 10 $ previous deposit bonus (the total = 660 ).

    the total deposit bonus Is 160 $

    as the rules of the deposit bonus the company has the right to deleted the deposit bonus without prior warning and this is not a problem for me but the real problem here you can see it in the last 2 transactions which are canceling 473 $ from my own funds considering it as bonus and transferring 186 $ to another account : 5090978 .

    if instaforex want to say the my account was hacked then why you cancel my own funds considering it as bonus
    if instaforex want to say that they canceled the deposit bonus then where is the transferred money to the other account and why considering my funds as bonus ????????

    i posted this thread here hopping to found any help here because i cannot do any thing with them .

    Please help.
     
  2. Pharaoh

    Pharaoh Colonel

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    You got a total of $150 + 138.18 + 138.18 + 150 in bonuses.

    It sounds like they are counting up all of those bonuses together. As much as I think that InstaForex is a fraud, their bonus terms may have you on this one.
     
  3. mrmoha

    mrmoha Private

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    yes this bonus i lost it in the trading , where is my deposit ? why they considered it as bonus ?
     
    #3 mrmoha, May 7, 2012
    Last edited: May 7, 2012
  4. Romeo

    Romeo Sergeant

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    You have to read their terms and conditions. I did not read them and I am not a client of them, but I don't think you are allowed to "lose" the bonus and be able to get your money back. You can use it to increase your capital, as long as you are not over trading and you are in a safe distance from a margin call.
    You also need to keep an eye on the margin %. The bonus is usually excluded, so that you know how close you are to the margin call.
    You have to see the bonus as a discount. Imagine hat you are in a shop and you read 20% discount on all items. You have to buy something, in order to activate the discount. If you choose a TV, $200 worth, you will get a $40 discount after you pay $160 for it, but if you tell the owner, please give me $40 in cash, because I don't like your TV, he will not give it to you.
    I know that the tricky part is that you see the money on the account and you think it is yours, but if you read the small letters....
     
  5. mrmoha

    mrmoha Private

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    i can see the terms of the company very well and i knew from it that the deposit bonus may cover the margin and in the same time the company has the right to cancel the welcome bonus at any time , now i'm ready to loss the bonus at any time but i opened a position and lost my money and my welcome bonus , that's was from 2 weeks , now after 2 weeks i make another deposit 500$ , how the company recover it's previous bonuses from my new deposit ?????
    this is not in the company laws .
     
  6. Pharaoh

    Pharaoh Colonel

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    I have a strong suspicion that their bonus terms are something like:

    If you deposit $1000, you get a $300 bonus. If you then instantly lose $1000, that was your initial deposit and the remaining $300 can't be withdrawn. If you then deposit another $1000 and get $300 more, you now have $1600 in your account of which $1000 can be withdrawn. Lose $1500 and you effectively "owe" them 500, so if you put in another $500, you can't withdraw any of it - at least until you've made enough trades to qualify to keep the bonus (if that's even an option).

    Whether or not a broker has a scam rating from the FPA, you MUST read the terms of any bonus before accepting it. Of course, avoiding opening accounts with scam rated brokers is a good idea.
     
  7. fxfrench

    fxfrench FXOpen AU Representative

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    If it is as you suggest, its a very good scam. Luring traders in with fake bonuses that become liabilities as time goes on.
     
  8. seedof

    seedof Corporal

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    fortunately for instaforex on this issue its well clear in the term that you don't withdraw bonus and once you loose bonus your next deposit partly or wholy make up the bonus.
    the bonus isn't a scam but only a way to attract greedy traders. i've accounts with instaforex but i don't claim the bonus at all.
    that guy doesn't really read the terms.
     
  9. mrmoha

    mrmoha Private

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    5 days and no response on my emails from the company .

    I lost this bonus 2 times , when i lost all of my balance and when they canceled it from my own funds .
     
    #9 mrmoha, May 9, 2012
    Last edited: May 9, 2012
  10. Pharaoh

    Pharaoh Colonel

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    Two pieces of advice to avoid this in the future.

    1. Read ALL bonus conditions before accepting a bonus. If you are unclear on something, email the company and wait until you get a response. Don't even deposit money until you are 100% clear on all terms and conditions.

    2. Don't open accounts with brokers that are already rated as SCAM by the FPA.
     

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