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Instaforex SCAM ALERT

Discussion in 'Scam Alerts' started by traderbg, Jan 6, 2012.

  1. traderbg

    traderbg Recruit

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    I want to warn all of you to stay away from Instaforex... That's the worst brokerage company EVER!!!!!!!!!!!! I am using my own coded scalping EA and they keep messing with my orders... I made over 40% in November and since December I keep missing my Take profit levels but the Stop losses are always hit EVEN WHEN THE PRICE WENT 5-6 pips above the Take profit levels!!!!!!!!!!!!!!! That's a WARNING FOR EVERYONE WHO WANTS TO MAKE PROFIT IN THE FOREX MARKET! AVOID INSTAFOREX IF YOU WANT TO BE SUCCESSFUL. They are only interested in taking your money!
     
  2. RahmanSL

    RahmanSL Major

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    Instaforex has already been declared a Scam Broker by the FPA (go to top of pageunder "Reviews & Ratings"...select ""Hot! Forex Brokers Reviews"...look for "Instaforex" (for a faster search, type in "Instaforex" right at the bottom left hand under "Filter Services" and then click on "Go").

    I would suggest (same as I did for that person having problems with Hotforex.com & Exness.com) instead of starting another thread on Instaforex, you post your complaint at the Instaforex live forum right here at the FPA where there are a bunch of other people have posted too of being scammed by Instaforex.

    Go to top of this page on "Reviews & Ratings"....click on "Hot! Forex Brokers Reviews"...look for "Instaforex" (for a faster search, type in "Instaforex" right at the bottom left hand under "Filter Services" and then click on "Go").
    Once at the forum dedicated to ratings & reviews for Instaforex, click on "Click here to join live discussion of Instaforex on our forum". Post your complaints there or e-mail your complaint directly to their support team who might take up your case to clear their name.

    That way, all the other live clients of Instaforex will also be able to read your problem with this broker and might even try to help you to solve it.
     
  3. RobertForex

    RobertForex Recruit

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    My friend told this to me. There is such a Russian guy the CEO of the following companies: InstaForex.com, UWCFX.com, MT5.com, showfxworld.com, his name is Sergey Mayzus (United World Capital Pafos Branch in Cyprus is Officially Open | PRLog). To make his companies famous he buys forums and organizes companies like ShowFxworld to advertise his companies and hand himself Awards. Also he takes away from his way competitors by creating and buying a special forum like MT5 where its employees write SCAM about all other companies/competitors so that ensure people to open accounts only in his company. He makes absolutely non clear business, and I appeal to the community of traders to help me to inform everyone that he is not an honest businessman and do not open accounts in his company! For InstaForex (https://sites.google.com/site/antiinstaforex/home/eng)
     
  4. BigT1

    BigT1 Sergeant Major

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    Hello traderbg,
    Instaforex is a voluntary member of an SRO (Self-Regulatory Organization) RAFMM; they theoretically exists to resolve disputes between clients and member firms.
    They have a formal review and binding arbitration process. You may file a proper complaint with them and be compenstated if you can prove your case, and the firm can be fined for flagrant abuse.
    Here is a link to their regulator:
    The Russian Association of Financial Markets Members (RAFMM)
    .
    Anthony Ingrassia, CTA
    NFA ID#: 0278164
     
  5. Pharaoh

    Pharaoh Colonel

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    Based on the post by RobertForex, I wonder how many of the members of RAFMM are closely related?

    Still, it won't hurt to file a case with RAFMM. You have nothing to lose but a small amount of time.
     
  6. FXCobra

    FXCobra Banned for uncivilized conduct

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    I congratulate you Robert for creating that good site, showing instaforex scam broker cheats.
    If every trader who got cheated by a scam broker does what you had done, I believe you'll all make something like a community helping thousands of traders from getting scammed from such illegal brokers.
     
  7. BigT1

    BigT1 Sergeant Major

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  8. Pedro Fernandez

    Pedro Fernandez Recruit

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    Instaforex take the money from Credit Card and do not appear in my account

    This case is more scam.
    Last 3th december I opened an real account and did a payment to Instaforex at BAKU.

    After many email and screenshot of the transfer of the money, Still I am waiting for Instaforex financial departament answer.

    Then I started to investigate, and I found this forexpeacearmy.com page.
    Late for me but maybe help others.

    Now I am very sure Instaforex is SCAM and I lost the money.

    Best regards.
     
  9. BigT1

    BigT1 Sergeant Major

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    Hello Pedro,
    .
    First, call the firm through one of the many advertised phone lines here:
    Contact us
    .
    Ask for the Compliance Department, or if they will not connect you demand the email address of the compliance department.
    They must have a compliance department, because they claim to be regulated bt RAFMM (for better or worse).
    .
    Then, whether you speak with them or not, email their Compliance Department and provide them a link to this thread.
    Tell them to come here and explain, and they have 5 days to respond to you privately with a full accounting of your account, or you will be forced to file a complaint with their regulator for failure to reply.
    If they do not respond, do so here:
    Make a complaint
    .
    What method of payment did you use?
    Notify the funds transfer agent of a potential fraud, and have them open an investigation.
    Confirm to us here that you have taken these actions.
    .
    Anthony Ingrassia, CTA
    NFA ID#: 0278164
     
  10. Pharaoh

    Pharaoh Colonel

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    Please follow BigT1's advice. If that fails, call your credit card company and ask to speak to someone in the fraud department about a chargeback.
     

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