Problem www.Instaforex.com scam, removed my profit and bonus too

[visale]

I opened new INSTAFOREX EURICA account with 30% bonus, thinking that this is linked to the markets directly and there is ECN connectivity, and there is no market making in this type of account

But i was WRONG, I did some trading by guessing the news and this is called news trading, and i got profit in all the 4 trades in 3 to 4 days, so guess what this broker did?

They REMOVED all my bonus and all my PROFIT too...

Why? because it is detected as FRAUD by their anti fraud team, the customer care told me..

no reply from them from last 48 hours to my email

my quesiton is: news trading is considered fraud? its a joke by instaforex

my instaforex account number is 8038440

i can give the screenshot of the MT4 in which you can see clearly that they remove profit and bonus of mine

bonus removal is ok, its their money, but why to remove my profit?

 

[Joshua S.]

my quesiton is: news trading is considered fraud? its a joke by instaforex

You should mail them again and ask what kind of fraud activities did they detect. I personally don't think it's acceptable to accuse someone of fraud activities without any clarification or proof.(or did they provide you details of the fraud activities already?)

If they refuse to give any proof or clarification, then, as long as we are gaining profits must be a fraud activity according to Instaforex.

 

[Pharaoh]

I agree. I'm getting sick of brokers accusing clients without also giving the client details of exactly which rules were supposedly broken and how those rules were broken.

 

[FreddyFX]

I am trading live with them since March 6 and personally think you are screaming about something that you don't understand that happened. This is a broker that is far ahead of many of the other criminals that have been around for a decade or so.
They "lack" this one person we are used to by other brokers called your account representative or whatever. So one needs to read carefully everything that is available with them and take the proper action. If you make a mistake, they correct you automatically.

MY POINT:
you are misleading the community by NOT FULLY showing what really happened.

..............and as this seems to be your first post, I wonder.

 

[Pharaoh]

Freddy,

InstaForex doesn't exactly have an unblemished history. If you think Visale needs to provide more info, then ask him for it politely. There's no reason to try to accuse a trader of being a deliberate misdeeds just because you happen to currently be a fan of the broker involved.

My personal broker hasn't given me any issues, but if a trader reports trouble with them, I'm going to try to help.

 

[visale]

i have posted their reply long back ago on this thread

Insta Forex | InstaForex.com reviews and ratings by Forex Peace Army

this is the email proof that they sent to me

Dear Client,

The total result of the orders with a less than 5-minute interval between opening and closing was cancelled with commentary
"CANCEL ERROR ORDERS" in accordance with paragraph 3.14.6 of the Public Offer Agreement:

3.14.6. The Customer agrees to undergo a supplementary expert examination of the trading account, if it has been revealed that the
trading methods of the Customer include opening and closing/opening lock positions with a less than 5-minute interval between them. In
accord to the results of the supplementary examination the Company reserves the right to correct the outcome of the Customer's trading by
the sum total of such orders.

The bonus was cancelled according to paragraph 8 of the Agreement on the 30% Bonus receipt:
8. The Company reserves the right to cancel bonus without prior warning, so we strongly recommend not to use bonus funds in calculation
of profit in your trading strategy. The Company is not responsible for any consequences of bonus's cancellation, including Stop Out, because
bonus is the ownership of the Company until trader works it out by opening deals of total volume specified in the point 7 of the present Offer
Agreement.


Sincerely yours,
AntiFraud Department
InstaForex Сompanies Group
Forex | Online Forex Trading | Currency Trading | Forex Broker


the above is their reply.

thanks for your interest people, please try to vote or help me

 

[Pharaoh]

Sounds like InstaForex requires orders be held for 5 minutes. That's a sure sign that they aren't in any big hurry to hedge client trades against the real market. I'll wager that if all the order held for a short time had ended in loss, they'd have been happy to honor those trades.

If your account had that provision and you broke it, then InstaForex has the right to act like a cheap bucketshop and cancel the trades. They also reserve the right to wipe out a bonus at any time for any reason they want. That's another reason to skip bonuses with any broker that you don't have an extremely high level of trust with.

Find a real broker that doesn't have a minimum time limit on trades. Warn your friends to stay away from brokers that have rules like this.