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My Experience With INSTAFOREX - Business - Nairaland

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My Experience With INSTAFOREX by edujoy(m): 11:17am On Mar 18, 2013
I was introduced to insta PAMM by a friend in October 2012. I had been trading with a lot of other brokers but I was sampling opinions regarding efficient PAMM services when I decided on the INSTAFOREX option. I registered a PAMM TRADER account with them and funded with a very little amount to try them. soon enough a few others who wanted me to trade for them also joined me. I made a few profits and decided to test their withdrawal services. To my surprise I got paid the same day. I went all out getting accounts. A few more withdrawals and I was convinced.

All of a sudden, I would want to withdraw profits and it will linger for upto 12 days. I only started to worry when this repeated more than 3 times.


The last straw that broke the camels back is the last withdrawal I placed on the 6th of this month. I have not received my money, I placed a second withdrawal on the 14th of March. While I was chatting with support, They Ommitted the first transaction and paid the second, Now the first transaction is missing.

I have screen shots of all my dealings with them.

I am no longer comfortable with these guys.

Are they annoyed that I am making regular profit?

Every trader needs a broker they can trust, right now I want to trust Insta but I am finding it very difficult considering the events of the past few days.

Attached are some of my dealings with them. How can they not locate a transaction that they took from my account (Which also reflected in my statement)?

I need your suggestions please?
Re: My Experience With INSTAFOREX by edujoy(m): 11:18am On Mar 18, 2013
Some proof

Re: My Experience With INSTAFOREX by edujoy(m): 11:21am On Mar 18, 2013
Another

Re: My Experience With INSTAFOREX by jamace(m): 11:33am On Mar 18, 2013
INSTAFOREX is a SCAM BROKER. Ask FOREXPEACEARMY. Moreover, it is NOT REGULATED.

INSTAFX belongs to the group of brokers called BUCKET BROKERS, they are out to SUCK YOU DRY. They are never happy if you are making it so they use every trick under the sun to ensure that you don't succeed.

Forget their useless bonus! angry

Use the following brokers:

HOTFOREX.COM
ALPARI.CO.UK
EXNESS.COM
Re: My Experience With INSTAFOREX by edujoy(m): 5:38pm On Mar 18, 2013
Read this mail

Finance Department
11:48 AM (5 hours ago)

to me



Hello,

Please wait. The funds will be send to your Liberty Reserve account as soon as possible. Your patience is highly appreciated.




Yet they Canceled Withdrawal without any explanations (see Insta 3 doc attached)

Thia is getting really interesting.

Re: My Experience With INSTAFOREX by Trut(m): 8:25pm On Mar 18, 2013
I knew this tey tey. Insta Forex and Master Forex (Russian brokers) are corporate scammers. I will never advertise their banners on my site.
Re: My Experience With INSTAFOREX by edujoy(m): 11:55am On Mar 19, 2013
This is an eye opener.

See the mail they sent again.

Finance Department
1:48 AM (10 hours ago)

to me



Hello,

Unfortunately, this withdrawal has been refunded.



Sincerely yours, Finance Department
InstaForex Companies Group
http://instaforex.com



NO EXPLANATIONS WHATSOEVER AFTER OVER TEN DAYS OF MY WITHDRAWAL. VERY INTERESTING
Re: My Experience With INSTAFOREX by edujoy(m): 12:15pm On Mar 19, 2013
This is getting more interesting see another mail a couple of minutes ago:

Finance Department
12:07 PM (7 minutes ago)

to me



Hello,

Kindly contact the Antifraud Department for detailed information through mail to antifraud@mail.instaforex.com .


Sincerely yours, Finance Department
InstaForex Companies Group
http://instaforex.com
Re: My Experience With INSTAFOREX by edujoy(m): 3:05pm On Mar 19, 2013
While I was chatting with support, I got a mail that my account has been credited.
.............................................................................

The discussion went thus:
27:30
ID: 11299-32829880

14:34
Sergey Stepanov
Hello, how may I help you?

14:34
You
Ji
Hi
I am wondering what your company is doing.I made a withdrawal of $142.95 on the 6th of March yesterday, the money was returned without any explanations. I enquired from Finance department he said I should write to antifraud@mail.instaforex.com .
I am wondering why allthis these embarasment

14:37
Sergey Stepanov
Please, write your account number and phone password.

14:37
You
5146730
I have made another withdrawal request, but I am very unhappy after over 10days of my initial withdrawal the money was returned without any explanation uptill now
My phone password?
Why?

14:41
Sergey Stepanov
This is the necessary condition.

14:41
You
ok
my phone password is xxxxxxxx

14:45
Sergey Stepanov
Probably you cancel this request by yourself.

14:46
You
I did no such thing

14:47
Sergey Stepanov
Wait a minute, please.
Please wait until your current withdrawal request is processed.

14:52
You
I need to trust my broker right?
so i demand to know why my previous request was returned without my canceling the request

14:53
Sergey Stepanov
Wait a minute, please.
Your previous request could not be processed due the technical reasons.

15:01
You
I need to trust my broker, and I want to trust your company. I enjoy your services and I hope this never happens again.
Thanks for your time

15:01
Sergey Stepanov
Always glad to help you.
Complete and rate
© SiteHeart
Re: My Experience With INSTAFOREX by rozayx5(m): 2:38am On Mar 20, 2013
my advice to you is when trading with insta just keep a clean sheet

avoid news trading

get ready to sacrifice your gap earnings


just use a normal trading system, make your profits, and you wont have issues with them wink
Re: My Experience With INSTAFOREX by edujoy(m): 7:05am On Mar 20, 2013
rozayx5: my advice to you is when trading with insta just keep a clean sheet

avoid news trading

get ready to sacrifice your gap earnings


just use a normal trading system, make your profits, and you wont have issues with them wink

A little reassurance. Fortunately I am a swing trader
Re: My Experience With INSTAFOREX by normaljenny(m): 7:21pm On Mar 27, 2013
edujoy: Read this mail

Finance Department
11:48 AM (5 hours ago)

to me



Hello,

Please wait. The funds will be send to your Liberty Reserve account as soon as possible. Your patience is highly appreciated.




Yet they Canceled Withdrawal without any explanations (see Insta 3 doc attached)

Thia is getting really interesting.

Hello fellow NL, I have been trying to create API for my liberty reserve account. My problem is that in my account, I visited the merchant Tools section to create the API link. They brought out a form for me to fill, which “API NAME” and I typed in a name I proposed for it. Then coming to the “SECURITY WORD” which requires nothing less than 25 words. I typed in 26 words as in all my names together as I do not have any word in mind to put in and i was told it has to have digits and characters. Please. Do they mean buy digits and characters and what is the right format to create a security word? Please I need replies and lastly I need $60 LR. How much last?
Re: My Experience With INSTAFOREX by naira4ever(m): 8:33am On Mar 28, 2013
@normaljenny,
You can try to nmix digits (numbers) with you names, then you will have alphanumeric secret word e.g if ur name is Normal Jenny, u can up with something like 'Normal4jenny19121985goes4ever'. (19121985 could be ur bday as in 19 December 1985). You can see that it's more that 26 xters already!
Buy LR @ 160 Naira/$. Instant funding as soon as payment is confirmed with UBA or Diamond Bank.
Re: My Experience With INSTAFOREX by instaforexngr(m): 10:37pm On Sep 17, 2013
I have been trading with instaforex for the last couple of years and have not experience any significant problems with them.
Their deposit is instant and withdrawals usually takes 2-3 days maximum.
Re: My Experience With INSTAFOREX by edujoy(m): 10:54pm On Dec 20, 2013
I have some clients on Insta forex who deposited with Liberty reserve but are unable to withdraw their money. Is there any solution yet?
Re: My Experience With INSTAFOREX by instaforexngr(m): 12:38pm On Aug 29, 2014
Thank God for bringing Instaforex to Nigeria.
We are official Introducing Broker representatives for InstaForex in Nigeria
Fund your Instaforex Account in Naira
Deposit $100 and receive $100 extra
Call: 08065167701 or visit www.forextrading23.com
Re: My Experience With INSTAFOREX by jamace(m): 12:46pm On Aug 29, 2014
instaforexngr: Thank God for bringing Instaforex to Nigeria.
We are official Introducing Broker representatives for InstaForex in Nigeria
Fund your Instaforex Account in Naira
Deposit $100 and receive $100 extra
Call: 08065167701 or visit www.forextrading23.com
grin grin grin
Re: My Experience With INSTAFOREX by instaforexngr(m): 9:14am On Dec 20, 2014
instaforex is the best broker
Re: My Experience With INSTAFOREX by seoconsultant(m): 3:23pm On Jul 19, 2015
instaforexngr:
Thank God for bringing Instaforex to Nigeria.
We are official Introducing Broker representatives for InstaForex in Nigeria
Fund your Instaforex Account in Naira
Deposit $100 and receive $100 extra
Call: 08065167701 or visit www.forextrading23.com

Here is another Broker representative for Instaforex Nigeria

@instaforexngr Thanks for placing us under your list of Registered Recognized Instaforex Brokers.
at least with this list people can now get verification of instaforex brokers they want to trade with in their region.
http://forextrading23.com/2013/06/11/list-of-instaforex-offices-representives-in-nigeria/
Re: My Experience With INSTAFOREX by macphilip: 10:45pm On Oct 28, 2018
Trade with Instaforex, the multiple award winning forex broker in the world.
Make your Account fundings and withdrawals in Naira at InstaForex Nigeria office in Lagos.

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