InstaForex and Aras194 - Resolved

We the members of the Scam Investigations Committee of the Forex Peace Army have deliberated on all the evidence available to us and have reached a conclusion. It is our opinion that...

FPA member Aras194 is a very successful, high leverage, high risk trader. She managed to return about $8000 profit from an opening balance of about $100 in less than one week.

InstaForex canceled all of her trades, claiming they were off market. InstaForex representatives publicly accused Aras194 of cheating at the FPA's forums and other forums online. In emails to the FPA, an InstaForex representative called Aras194 an "anonymous Iranian scammer" and made other derogatory statements about her.

Our investigator was very surprised when a different InstaForex representative emailed and said that $7950.07 in profits were being restored to Aras194's account.

InstaForex did not return a small amount of money from an active trade that was open at the time that InstaForex closed all trades and deleted the trading history of the account. InstaForex also did not pay approximately $60 to Aras194's IB. Aras194 paid her IB the money owed after withdrawing all profits.

We do feel that InstaForex still owes the IB referral fees. We also feel that InstaForex owes a public apology to Aras194 and other traders in her country, as well as to FPA Investigator Gerard.

Since the vast bulk of the money owed to Aras194 has been returned to her, we feel that this does serve as an admission that InstaForex was wrong to try to confiscate this money. We also feel that InstaForex has made a significant step toward improving its image.

Aras194 has agreed that we may consider her case against InstaForex to be resolved.

We thank the representative at InstaForex who took the time to verify that Aras194's trades were all legitimate. We commend FPA Investigation Lt. Gerard for persevering in what looked like a hopeless case. We especially commend FPA Private Aras194 for providing excellent evidence to support her case, standing up for her rights as a trader, continuing to fight what looked like a lost cause, and enduring insults against herself as well as others from her country. We will also try very hard not to be too jealous of her trading skills.

Details and Discissions of Aras194's Case

Aras194’s Original Complaint

Note: At this time, the case of Yulia and Barunia against InstaForex is still considered by ther FPA to be a confirmed Scam. We now have hope that their issue with InstaForex can be resolved soon.

Details and Discussion of Yulia and Barunia's Case
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