InstaForex Broker Testimonials

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.

You can actually benefit from their terms and conditions. I usually open trades before the news and trade in the long term. I guess it's also pretty good for newcomers seeing that they offer a lot of bonuses

The best broker is Instaforex. Easy deposit (15 minutes) and withdrawal. I gained profit USD50,000++ with them

I like InstaForex 'cuz the rebate is the biggest...

There is a deposit bonus 30% plus rebate commission, so I get double profit

InstaForex sometimes does questionable things, but for some reason, I still trade with them. During my experience trading in InstaForex, there are some lessons that may be useful for newbies:

1. Trading more than 1 lot will disturb their MT4 performance.

2. I've won a trading contest (rally fx) but I felt like they made me ineligible for many reasons so I couldn't claim my prize. By the time I fulfilled their criteria, the claiming period was over so in the end, I got nothing.

3. Once, I received an affiliation bonus. It was $300 and credited to my MT4 Balance in just a day. In a one-sided decision, InstaForex canceled the bonus because of "some miscalculation" that caused my balance to be reduced by $300. My account was negative for several hours then turned back to normal the next day.

InstaForex is very suitable for trading with simple fibonacci strategy.

I was wondering why InstaForex insists on applying 3 pips spread while other brokers competing to have zero spreads. Only after I research further did I know that the spread is fixed.. I think it is a fair condition given that forex market can fluctuate badly in certain times.