InstaForex Broker Testimonials

Hi, I have been trading with InstaForex since last Christmas. At the time I didn't see any problems with the way they executed things. All of my tradings went on smoothly with no problems whatsoever. But recently I have been having a hard time logging in to my account. It said my account password has expired or something, I don't know what that meant. So, I tried to contact their customer service, but they haven't replied to my chat yet. I'm really lost here.

I'm having difficulty withdrawing money from this broker. They keep saying there is some problems with the verifications even after several documents. I'm at lost

I'm so turned off by this broker. My orders were forcefully closed in many cases. They should help their clients but they seem to trade against them. I canceled my plan to deposit in the real account.

I also research some information about them, and I'm so surprised by the many claims of them being a scam. Their license from a Russian association was also revoked.

I requested callback for so many times but they never call me

After more than 1 year I finally knew the downside of this broker. My profit for GBP/USD was canceled because of rule violation. Below is their email:

Dear Xxx,

We hereby inform you that Control and Security Department has performed a correction on your account with the following parameters:

235.56 || CANCEL ERROR ORDERS

On your account xxxxx were fixed orders contradicting with point 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.

We apologize for the inconvenience, and feel free to contact us by email address antifraud@mail.instaforex.com in case you have any questions.

This is so disappointing. I don't want to ruin their reputation so I can only warn for traders to be really careful if they intent to trade with Insta.