and Hahed1 - 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 Hahed1 has an account with InstaForex. On March 25th, 2009, he complained in FPA's forums that he had not received a withdrawal. After extensive negotiations and arguments with InstaForex's representatives did not result in the money owed to Hahed1 being received, the FPA finally declared the case to be a scam on May 26th, 2009.

Hahed1 reported that he finally got the money owed to him on June 3rd 2009. He reports that the documents provided by his bank seem to show that the transfer was sent after the scam finding. We did not see the documents, so cannot verify the exact date the transfer was initiated.

We are happy that Hahed1 got his money. We fully understand his frustration with the months of delays in getting paid, but do hope that he can take a slightly less aggressive tone in our forums in the future. We also hope that InstaForex can improve both their customer service as well as their public presence in the FPA's forums.

We thank FPA Investigator Tessa for her efforts on this case and FPA Investigator Gerard for his assistance.

This case is now officially resolved.

Discussion thread for this issue with InstaForex

Hahed1's original complaint against InstaForex

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 some hope that their issue with InstaForex can someday be resolved. Until it is, we still recommend against doing any business with this company.

Details and Discussion of Yulia and Barunia's Case