a) Instaforex is BVI company and claim them to be Russian.
b) Instaforex says that they are regulated by FFMS, the financial regulatory body of Russia, where as their staffs openly admitted that FFMS don't regulated forex and Instaforex is not regulated by any regulatory body.
c) Instaforex claim to be ECN, but their staff not even know definition of ECN, you can find that on Insaforex's official forum.
What they do -
a) They hedge your positions. If you buy EurUsd then you are doing nothing than clicking buy button. If you lose then you fill up the pocket of instaforex.
b) If you start winning, they will involve in every possible dirty trick.
i) Slippage from quoted price irrespective of what you select. I had incidents when slippage was of 7 pips when I have selected the option of maximum 1 pip deviation from quoted price
ii) They give requotes on requotes on requotes. You cannot trade news or fast moving market with them.
iii) If you click buy market order, they don't execute immediately. They wait, wait for the price to turn against you and then they buy. So, if the price turns in your favour, they will just execute the order at the price you were initially quoted. If the price turns against you, obviously they will execute at worst price. So even if the spread is 3 pips on euro usd, it's nothing less than 8 pips in truth
Above all -
a) They will block your acc, restrict your connection when your position is in profit. Then, as soon as account goes to a heavy negative, magically, connection will be back again
They even charged rollover charge on the swapfree islamic accounts.
A bunch of thiefs and robbers.
International Broker InstaForex
Re: International Broker InstaForex
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