My Bad Experiences with InstaForex these two weeks

[taojin88forex]

First of All, we are a Chinese Introducing Broker, our site is www.taojin88.com, and we have established long-term cooperations with many brokers such as InstaForex, UWCFX, LITEForex and others like Broco, FXOpen and so on, I am not here to attack InstaForex, but just express the problems I meet with them.

In last Fri, I found $1117.53 were cut from our InstaForex partner account with a comment "CANCEL SCAM COMMISSIONS" , My account is #32129. Canceled Commissions order #60373081, without a notification.

I send some mails to InstaForex and the Partner Department, got a reply on 8th, March. I copy it here:

In your Partner’s group were fixed referrals which were used mismatches of positive and negative swaps
caused by incorrect reckoning of small swap amounts for 0,01 lot deals by MetaTrader platform.
In accordance with our Partnership regulations, all commissions which you got from these clients
should be cancelled in a full measure.

9.6. The commission remuneration shall be cancelled and the Client
shall be excluded from the partner group in case of disclosing the
orders not complying with the general regulations, the bonus system
and contest rules as well as in case of charging the commissions from
allegedly fraudulent accounts.

The decision of the Company is final and not subject to appeal.
We are sorry but commissions can not be restored.

If you have any questions please do not hesitate to contact us in future.

Sincerely yours, AntiFraud Department
InstaForex Сompanies Group
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To be frank, I did not understand why they call such trades "SCAM TRADES". if you understand the reason I marked, you can give me a reply, thanks in advance.

At the same time the Dealer cut my commissions, he CHANGED my password.

After that, I tried to restore my password first, and then try to withdraw other commissions out. I made it on 9th, Mar, now still not processed, so I have a talk with Finance on skype, what he/she send to me is,

[21:57:18] InstaForex_Finance: Your request for withdrawal is delay due to checking of your account by the Dealer department. The money will be transferred as soon as possible.
[22:11:03] InstaForex_Finance: Sir, any request can be checked by the Dealer department. Please wait, your request for withdrawal will be processed as soon as possible.

It is crazy, and can not bear it anymore, WILL THE DEALER CUT MY COMMISSIONS AGAIN WITH A COMMENT "CANCEL SCAM COMMISSIONS"??

I will wait for the result and will post here.

Also, I am still tring to get the so-called SCAM-COMMISSIONS back, will let you know what I get in the future.

If there is any InstaForex's Staff, I hope you can come to talk about this here too, in order not to let more IBs or Clients get the so-called SCAM commissions and SCAM trades.

Regards,
TaoJin88.com

[Alexa]

First of All, we are a Chinese Introducing Broker, our site is www.taojin88.com, and we have established long-term cooperations with many brokers such as InstaForex, UWCFX, LITEForex and others like Broco, FXOpen and so on, I am not here to attack InstaForex, but just express the problems I meet with them.

In last Fri, I found $1117.53 were cut from our InstaForex partner account with a comment "CANCEL SCAM COMMISSIONS" , My account is #32129. Canceled Commissions order #60373081, without a notification.

I send some mails to InstaForex and the Partner Department, got a reply on 8th, March. I copy it here:


To be frank, I did not understand why they call such trades "SCAM TRADES". if you understand the reason I marked, you can give me a reply, thanks in advance.

At the same time the Dealer cut my commissions, he CHANGED my password.

After that, I tried to restore my password first, and then try to withdraw other commissions out. I made it on 9th, Mar, now still not processed, so I have a talk with Finance on skype, what he/she send to me is,


It is crazy, and can not bear it anymore, WILL THE DEALER CUT MY COMMISSIONS AGAIN WITH A COMMENT "CANCEL SCAM COMMISSIONS"??

I will wait for the result and will post here.

Also, I am still tring to get the so-called SCAM-COMMISSIONS back, will let you know what I get in the future.

If there is any InstaForex's Staff, I hope you can come to talk about this here too, in order not to let more IBs or Clients get the so-called SCAM commissions and SCAM trades.

Regards,
TaoJin88.com

Please provide numbers of accounts that you do not consider to be scam.

[taojin88forex]

Plz take a look at my words,

To be frank, I did not understand why they call such trades "SCAM TRADES". if you understand the reason I marked, you can give me a reply, thanks in advance.

Also, I have a question after I talked with Katerine, why the Dealer of InstaForex only take action on my Commissions but not those so-called SCAM Traders?? these clients made more than 10000 trades, so, all of them are SCAM TRADES??

You can go to check them, they are all trading normally, I REALLY DO NOT UNDERSTAND this!

thanks for your help, Alexa.
TaoJin88

[Alexa]

Plz take a look at my words,


Also, I have a question after I talked with Katerine, why the Dealer of InstaForex only take action on my Commissions but not those so-called SCAM Traders?? these clients made more than 10000 trades, so, all of them are SCAM TRADES??

You can go to check them, they are all trading normally, I REALLY DO NOT UNDERSTAND this!

thanks for your help, Alexa.
TaoJin88

I'm still waiting for the numbers of accounts you don't conssider as "scamming".

[taojin88forex]

I am still talking about this matter with antifraud department, I think it is not a right thing to post the clients trading accounts here Now.
Anyway, thanks for your attention, Alexa, I will ask them what is the mean of "mismatches of positive and negative swaps
caused by incorrect reckoning of small swap amounts for 0,01 lot deals by MetaTrader platform"

[Alexa]

I am still talking about this matter with antifraud department, I think it is not a right thing to post the clients trading accounts here Now.
Anyway, thanks for your attention, Alexa, I will ask them what is the mean of "mismatches of positive and negative swaps
caused by incorrect reckoning of small swap amounts for 0,01 lot deals by MetaTrader platform"

There is no need to publish these numbers here. You could send them in a private message. If you do not agree, this only proves that this is fraud and you are involved in it.

[Alexa]

A single account was generating several hundred microdeals opened in lock, thus there was no real trading in these 10 000 deals, it was just an attempt to catch the swap bug in full lock.

[taojin88forex]

I understand your meaning now, you judge such lock traders as SCAM traders, right? but InstaForex allow locks indeed, I did not involve them, and I wont send you the list, because most of them are trading in the way you said, I did not want to spend time to check the one by one, and my question is, any rules in InstaForex said such trades are not allowed? even it is NOT allowed, why you did not take action on them, but just CANCEL our commissions?

and Now, My second withdraw was still not processed after 4 days, which the finance Department said it was been checked by the DEALER, Again, It is the DEALER, I did not trade at all, why CHECK me but not your so-called SCAM traders??

[taojin88forex]

And, if you think it is a BUG, why not fix your BUG??

[Alexa]

I understand your meaning now, you judge such lock traders as SCAM traders, right?

YES, this is considered as scam. And this is forbidden by the Agreement, that you and your referrals accepted.
To lock deals is not forbidden, but opening opposite positions to get guaranteed profit on swap. We provide trading services in order traders could get profit from deals, not for being robbed by those who get guaratedd profit on swaps.
We will never knuckle under such traders and will always stop their activity: if scam deals on the account are cancelled the company does not get spread, thereafter the partner does not get a part of this spread.
This is why your commissions were cancelled (according to the Partnership agreement), because money does not appear out of nowhere, and the company has no interest paying to you out of its own money as in this case your work as a partner does not make any sense: this is a logical and fair explanation, therefore I suggest that we end our discussion here.