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The last scandals,Instaforex.com is not regulated.

Discussion in 'Scam Alerts' started by zx10, Jan 28, 2010.

  1. zx10

    zx10 Private

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    This is new fact - at least for me - that i knew today.

    As an ex reader in Instaforex i was shown for a thousand times this page
    Broker licence
    as a legal reality for this company , and many , many traders join instaforex only because they though that this licence are really for instaforex and it`s covered by the biggest regulatory organization in Russia.

    well,it`s not

    today i figured that this organization is only cover the stock market not the forex market and the fact that instaforex publish these licence/certificate in their website they actually breaking the law.

    here is the link for this fact from the same Russian organization:
    ??????????? ?????? ?? ?????????? ?????? - ?????????????? ?????? " ?? ?????????? ???????? ????????? ?? ????????????? ????????, ?????????? ???? ??????, ? ???????? ??????????? ???????????? ?? ???????? ?????".

    translation

    Information Letter "The absence of legal grounds for the use of licenses issued by the Federal Financial Markets Service of Russia, as a justification of the foreign exchange market."


    Participants in the securities market

    The absence of legal grounds for the use of licenses issued by the Federal Financial Markets Service of Russia,
    as a justification of the foreign exchange market


    In connection with the identification of a number of cases of information on available licenses for the activities of stock exchange brokers and stockbrokers who commit commodity futures and options transactions in stock exchanges, issued by the Federal Service for Financial Markets, as an authorization to provide services in the foreign exchange market Forex (Forex) , FSFR Russia brings to the attention of market participants following.

    Relations connected with the activities of the foreign exchange market, including activities to raise funds for operations in the foreign exchange market Forex (Forex), are not regulated by normative legal acts of the Federal Financial Markets Service of Russia, the license issued by the Federal Financial Markets Service of Russia, do not give right to engage in these activities .

    In connection with the Federal Financial Markets Service Russia draws the attention of businesses and individuals that have licenses for the activities of stock exchange brokers and stockbrokers that in the case of detecting the unfair use of references to the availability of appropriate licenses issued by the Federal Financial Markets Service of Russia, to support the implementation of such companies in the foreign exchange market including activities to raise funds for operations in the foreign exchange market Forex (Forex), Federal Financial Markets Service of Russia will consider the facts as to deceive the market participants, and unfair competition.

    Information about any cases will be forwarded to FAS Russia in order to verify compliance with the legislation of Russia on protection of competition and regulations of the RF on advertising.

    Territorial authorities FFMS Russia were given instructions to identify those facts.



    VD Milovidov


    now i`m going to quote the reply of one of their representative ,

    yes you read right , she admit that these certificates were giving to Insta Trade Investment not for instaforex.com , so how come they post it in the forex company as a licence?

    now i`m really not sure with who we have been dealing all the time?

    is it really a real forex company , or just another company that belong to the Russian mafia and use it as a cover?

    please any body answer me.
     
    #1 zx10, Jan 28, 2010
    Last edited: Aug 29, 2011
  2. Pharaoh

    Pharaoh Colonel

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    Sounds typical for the InstaScamex people. They've got one division of a company that hasn't lost a license yet and are displaying it in other divisions of the company to claim they are regulated.

    Hopefully, someone will point this out the the Russian regulators. InstaFraudex will need to pay a hefty bribe to keep themselves out of trouble then.
     
  3. zx10

    zx10 Private

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    Hi Paraoh,

    I already contact this organization asking them about this licence and will submit the reply when i received it - if i got any reply at all - , but i do encourage all of the PFA soldiers and Generals to contact this organization regarding this breaking law advertisement that this company display in it`s website>

    you may contact this organization from here:

    Federal Financial Markets Service - Contacts
     
    #3 zx10, Jan 30, 2010
    Last edited: Aug 29, 2011

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