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Discussion in 'Scam Alerts' started by Thiva, Nov 16, 2011.

  1. Thiva

    Thiva Recruit

    Jul 5, 2010
    Likes Received:
    On 23 August 2011, I opened a MT5 live account with Instaforex.
    I made 3 deposit on..,

    25 August 2011 = $1000 USD
    26 August 2011 = $1000 USD
    29 August 2011 = $1000 USD

    Total deposited = $3000 USD

    Started trading as usual.

    On 5 October 2011, i made withdrawal $2000 USD.

    On 4 November 2011, i made withdrawal $3000 USD.

    By end of 8 November 2011, i have $3884.34 USD balance on my account.
    Then, on that same day (8 November 2011),
    Instaforex deducted the total balance in my account with reason of (CANCEL ERROR ORDERS).

    Now my account balance is $0.00

    I sent e-mail to dealer on 8 November 2011 for request claim.
    They replied on 15 November 2011.
    They said, The several points of the Public Offer Agreement were applied in my

    5.6. The Company keeps the right of reconsidering the results of deals
    of the Client in case of detection errors in server work, which leads
    to the quotation delay or to giving out non-market quotations.

    5.12. In case the price change that was caused by a difference between
    the last value of a forex instrument price and the first one at the
    point of market opening or was related to a news release affects the
    profit by more than 10% of the initial deposit, the Company reserves
    the right to make a correction to the result of such deals by a value
    proportionate to the difference between abovementioned prices by means
    of charging part of funds from the trading account with the following
    note: "Point 5.12 correction", in certain cases at the discretion of
    the company minimum alteration of profit can be limited by less than
    10% of total deposit.

    On that day, i replied to them told that..,
    Every single order are executed at trading time.
    Not in (Market closed time)

    every single order, the profit closed below 10% of
    initial deposit (below $300 USD)
    There is no order closed with more than $300 USD in single order.

    On 16 November 2011, they replied the same.

    I don't satisfied with their reply and i posted here before i file a case in FPA.

    Attached Files:

    • FPA.
      File size:
      209.8 KB
  2. fxfrench

    fxfrench FXOpen AU Representative

    Jun 1, 2008
    Likes Received:
    Instaforex don't like you to make money. You are fortunate enough to have been able to withdraw your initial capital. Take it and learn a lesson from this. If you are a profitable trader, do not open accounts with Market Makers. Choose a good ECN account as is suitable for your needs with a reputable company.

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