Problem InstaForex Steals, Scam, Fraud

[Ammihud7]

Instaforex Payoneer Mastercard by Choice Bank Ltd.

Notifying Payoneer that Insta is causing issues may be enough to get Payoneer to tell InstaForex to either pay customers or lose the ability to use Payoneer.

If no one complains, then Payoneer will think everything is fine.

This is true. I have been very patient with Instaforex and given them every opportunity to make good by honoring my withdrawal request. I even reduced the amount of my withdrawal from $2400 to $990 to make it easier for them. Although they took the money from my trading account they did not deposit to my Instaforex Payoneer Mastercard. Their so called Finance Department does not answer phone calls nor respond to emails. I have contacted Choice bank the issuer of the Instaforex Payoneer Mastercard. Instaforex passed the due-diligence process required by Choice Bank Prepaid Mastercard department. That gave them a certain degree of credibility I would never have trusted them with more than a few hundred dollars were it not for this fact. We will see if Choice bank responds appropriately.

 

[Pharaoh]

How's this for a possible explanation:

After milking clients around the world for a very long time and spending like drunken sailors, the cutoff of LR left InstaForex very short on cash. Now, they don't have enough cash on hand to cover withdrawals and are doing everything they can to slow down withdrawals while getting new clients to deposit more money.

Of course, this is just a theory, but it does fit the available facts.

 

[firebird001]

there is no reason that instaforex cut 50% deposit via LR.
1. Deposit LR is the official way of deposit of instaforex
2. Instaforex facilitate deposit via LR
3. This proves the existence of cooperation between LR and insta
(there is a LR link button, when you click the button will be connected directly with lr)
Obviously instaforex steals our money. Instaforex is a thief.

 

[Ammihud7]

there is no reason that instaforex cut 50% deposit via LR.
1. Deposit LR is the official way of deposit of instaforex
2. Instaforex facilitate deposit via LR
3. This proves the existence of cooperation between LR and insta
(there is a LR link button, when you click the button will be connected directly with lr)
Obviously instaforex steals our money. Instaforex is a thief.

Let me first say I agree with you. I have money tied up with them also. Insta is not responding like you would expect a reputable company to respond to their clients in this situation. That being said I think Instaforex lost a lot of money with the take down of LR. Maybe they had so much in their LR accounts and now they dont have enough to pay clients. And they are trying to stay in business. If all their clients found out something was wrong and withdrew all their funds no doubt Insta would go out of business. So it seems to me in this case they are trying to stall to see if they can recoup some money through commissions and whatever else they do to make money by November.

Its bad because we take calculated risk with trading. Now if you are a successful trader and you managed your trading risk well you made money. But now the uncalculated risk of dealing with an unregulated Forex dealer swallows your profit, that really sucks. So what can we do? Well for me I will trade my account up to double what it is now by November and see what they do. But for all those who have money tied up with Instaforex we need to unite and we may be able to do something about it. Spread the word and PM me with the details of how much of your money they are holding.

 

[Pharaoh]

The only way Insta could have enough money to have any need to steal 50% of all LR deposits, no matter how long ago those were, was if Insta was using LR as a bank and leaving deposits there.

If so, I'd say that leaving untold millions parked with any ecurrency company was obviously a bad idea. Other ecurrencies have failed in the past and others will fail in the future. To leave ALL client funds there (assuming that this isn't a total BS excuse) was a complete failure in fiscal responsibility.

The best thing that could happen now is for InstaForex to liquidate and pay all account holders proportionately based on how much each client had.

More likely, what will happen is that Insta Forex's owner will realize that the ship is sinking and will grab as much money as he can before taking the website offline.

If you have money with Insta, try to withdraw it now. You may not have that option later.

 

[Ammihud7]

The only way Insta could have enough money to have any need to steal 50% of all LR deposits, no matter how long ago those were, was if Insta was using LR as a bank and leaving deposits there.

If so, I'd say that leaving untold millions parked with any ecurrency company was obviously a bad idea. Other ecurrencies have failed in the past and others will fail in the future. To leave ALL client funds there (assuming that this isn't a total BS excuse) was a complete failure in fiscal responsibility.

The best thing that could happen now is for InstaForex to liquidate and pay all account holders proportionately based on how much each client had.

More likely, what will happen is that Insta Forex's owner will realize that the ship is sinking and will grab as much money as he can before taking the website offline.

If you have money with Insta, try to withdraw it now. You may not have that option later.

You may be right Pharaoh It may just be a BS excuse. And they may be stalling to make a great escape with customer funds. Why is it so difficult these days to find an honest broker?

 

[Pharaoh]

You may be right Pharaoh It may just be a BS excuse. And they may be stalling to make a great escape with customer funds. Why is it so difficult these days to find an honest broker?

InstaForex has been long known as a less than honest broker.

People need to check the SCAM listings in the reviews and just skip any broker listed there when looking for a forex broker.

 

[Master Yoda]

InstaForex are scam! that whole LR story is just an excuse to steal more money. Whatever they do, whatever they say I just don't buy it.

 

[InstaForex User]

InstaForex is not scam

Please Read this link before leaving InstaForex.

instaforex.com/forexpeacearmy.php

Moderation Team Note: We suggest you read the Scam Finding and the other complaints about InstaForex before posting links to libel.

Here is a link to many of the threads about InstaForex...

https://www.forexpeacearmy.com/forex-forum/tags/instaforex.com.html

 

[shayan]

sorry for late reply, but there is not other source to catch this fake broker.
it is a trap by us we can also hunt by this trap but i trapped insta fake broker and i got success. my all clients are happy and they got their money back by following me.