Problem Instaforex SCAM ALERT

[Pedro Fernandez]

Instaforex

I take this actions.

I sent emails to Instaforex with screenshot of payment VISA and account linked data

I did the payment using my VISA credit card for 1.000 USD

I called to my bank visacard and they ask me go to police first. (In Spain this is like a joke)


I have to go back to my office bank and sign a written request about this. Due I am travelling I will do that next week. I also with a written receipt of the payment I will writte again to Instaforex

From time to time I check this message.

But anyone shoud be away of instaforex like other people says in this Forum.

I do not forget to make a claim to RAFMM in a future but with a copyof the bank receipt next month.

Again, thank you all and REMEMBER STAY OUT INSTAFOREX

Best regards

Pedro Fernandez

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

 

[Pharaoh]

Try to get to your bank as soon as possible. Ask to speak to someone in the fraud department about a chargeback.

 

[Pedro Fernandez]

Dear friends,

Last week I went to police and later to my bank office in order to make a chargeback of the operation.
This can take about 4 months paperwork to get the money back and can be done only after 30 days of the credit card operation.
Also if VISA company has more complains about Instaforex.com may close all operations to that broker.

Thanks all for your advices
Best regards
Pedro

 

[Pedro Fernandez]

Last week I did the paperwork to ask the moneyback through the bank office.
The process will take 4months and can be done only 30 days after the operation with the credit card.
Also VISA may close all operations to that broker.
Best regards
Pedro

 

[BigT1]

. . . . Also VISA may close all operations to that broker. Pedro

Pedro,
Please detail your assertion regarding VISA.
Also, you should be filing a complaint with RAFMM at the same time you are waiting for your bank.
Copy the complaint to your bank to add to your case. Go here and get started:
Make a complaint
.
AI

 

[Pharaoh]

As I understand it, a lot of chargebacks and other complaints can cause a merchant bank to dump a client that processes cards through them. I believe that if the complaints pass a certain level, Visa, Mastercard, etc. may take more direct action.

 

[Njualem]

Instarforex I must draw your attention to the fact that most of my withdrawals are always delayed in some ways above the specified time frame out line with that particular mode of withdrawal am using Instarforex but when ever it comes to withdrawal I have a problem I'll never get my money on time am afraid that's how it begins and sooner or later I not get my money at all. The support manager drew my attention to the fact that withdrawals could take up to 5 day in some cases but when this happens all the time it worth questioning what are they up for?

 

[Pharaoh]

I believe only a handful of brokers have a fully automated withdrawal process. If human intervention is required, 5 working days is reasonable. I would hope most are done in one or two days, but delays could happen in any manual system.

BTW: Hi there InstaForex people! See, the FPA isn't ripping you for no reason and FPA members like me do point out when a reported issue could be part of a perfectly normal routine.

Too bad your own representatives don't act the same way in forums. If they did, it would go a long way towards improving your reputation.