Is Instaforex a scam?

Update 2016:
Read our traders comments below. We receive complaints about Instaforex on a daily basis. What we also receive is fake positive comments from Instaforex employees trying to improve their reputation. We are reviewing each comment but reviewing our rating system is not possible. So please be certain that it is biased (to the positive). And dear Instaforex employees: we understand that traders complaints aren’t good for your reputation but trying to fake customer reviews makes it even worse. Your fakes are so obvious that it is fairly easy for us to filter them.

After we added this message they changed their strategy a bit and at least try to disguise they are employees writing positively about their company. The comments are still just embarassing and so obvious fakes that it hurts. They sound like “Instaforex is the best Forex company out there. I made huge profits with them. Support was always helpful and their bonus is so amazing. I can’t thank you enough Instaforex!”.

Please stop that immediately. With these fake comments you make it even less likely that a real positive comment from a real customer will get approved by us.

Another update:
We will deactivate the commenting section for Instaforex for a while. Reason is that their team is not stopping their spam and it’s annoying to filter their comments out. We have asked you to stop it and have not activated one single comment from you. This should be reason enough for you to give up on it but it seems you are not going to learn.

To all the real traders out there who want to share their experience. There’s an email address in the right sidebar. Feel free to get in touch and share your story.

More than 300.000 costumers trade with Instaforex and this makes Instaforex one of the larger brokers around. Overall Instaforex is very popular but nevertheless you have to ask if Instaforex is reliable or not. Just because it’s big doesn’t make it trustworthy.

There are scam complaints with every Forex broker and Instaforex is no exception. A lot of complaints come from trader that tried to abuse the Instaforex bonus program and got their account locked. This is a good reason and the broker has the right to do so. There’s no need to worry and you won’t have any issues if you don’t abuse their bonus program.

Some trader don’t like the fact that the Instaforex server seem to be a bit slowly if you try to scalpe. These are technical difficulties that occur rarely and not every trader experiences these problems. So no need to call Instaforex a scam.

There was a dispute between Instaforex and the Forexpeacearmy. You can read about here. Instaforex is not the only broker that rages against Forexpeacearmy and criticizes its behaviour. You have to judge it on your own what to think about this dispute.



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Rating: 5.4/10 (38 votes cast)
Is Instaforex a scam?, 5.4 out of 10 based on 38 ratings

59 opinions and experiences

  1. Rofizan bin armi says:

    7548640 I want to ask why antifraud s not open my accout. I send them my picture holding with my passport and then they are said that is not my picture. how they say that I am owner and have passport of mine. They are not want to open my account. i tried to email them from previous 3 months and they are not reply or reply after 10 days. they waste my time because they want I never contact them again this matter and make long this. If you are not want to pay then tell me I give you more money but do not steal peoples money like this.

    • InstaForex Gertrude says:

      Anti-fraud department doesn’t reject accounts without no valid reasons. We will forward again your concern to the anti-fraud department and we’ll get back to you right after we get a response from them.

    • IFX Yvonne says:

      Dear Sir,

      We kindly ask you to please coordinate again with the Antifraud Department regarding that matter. Thank you.

  2. Sahil Khan says:

    I’m going to expose real face of INSTAFOREX please beware of this broker and avoid this broker. Instaforex is not more than a fraud.
    As per Instaforex policy and saying they offer posting bonus campaign and traders open account on forum and work hard day and night and after months when they earn some money and put withdrawal request Instaforex just disable the account without any reason and when we contact with Instaforex customer support manager they refer towards so called anti fraud department and anti fraud department didn’t reply anytime.
    My account number is 7542728. I earned 45 dollars after a lot of hard work and troubles and on first withdraw request they just disable my account.My account is not only funded with just bonus.First deposit was just my own money and they don’t have right to disable my account.

    • IFX Yvonne says:

      Dear Sir,

      The account was excluded from participation in “Bonus for posting”campaign in accordance with its rules and conditions:

      The Company reserves the right to deny crediting the bonus or to cancel bonus and profit made over the bonus without explaining the reason. As a rule, such actions mean violation of the bonus program or trading regulation rules or excluding a trader from the bonus program.

      If you still have questions, please coordinate with the Antifraud Department. Thank you.

    • InstaForex Gertrude says:

      The company’s policy is not to open the cheating strategies, so we cannot explain whatf actions were considered as ‘cheating’, since other traders may follow to get a quick profit even it’s prohibited.

      Let us remind you and others that the bonus funds are given to begining traders, so they could learn Forex without risking their own money. But nowadays lots of cheaters try to post as many messages on forums as possible to get a bigger bonus and then implement cheating strategies on their accounts to have a guarantee profit (which is not a result of the market deals).

      I understand the sentiments here but one should not blame the broker regarding the incurred losses. As a trader, it is your responsible to manage your account safely. The outcome of your trading activities depends on how you manage the trading account. Many traders are telling that they are scammed because they wanted to trade immediately without knowing the rules and regulations and without thinking about the consequences of it.

      We have warned everyone that cheating is prohibited and in case the company detects a cheating strategy on your account, both a bonus and profit earned from this bonus with a cheating way, are to be cancelled.

      We’ve been providing bonuses for our clients since 2008, and there are lot of traders who succeeded in making money out of bonuses without investing a single penny of theirs. They had no trouble withdrawing their funds, because they followed all the rules and made no violation.

  3. jhon says:

    I ne my seft scam of this site to I open lot with small like .10 in i have big margin in no stop lose in my minimum is 20 but when i wake up morning my trade is lose of 2.46$ i i dont know how my trade close i dont put ant stoploss this insta forex close my trade in im loss more in more..avoid this scammers

    • IFX Yvonne says:

      Dear Jhon,

      Have you tried to contact the Dealing Department regarding that case?

  4. Omalyaiof says:

    That’s weird. 6.9 rating saying the broker is legitimate or a scam?

    To the site developers, try to cover up this mistake of yours, please.

    • Scamreporter says:

      Hi Omalyaiof,
      where exactly do you see the mistake? Our rating system is independent and we try to rely on our traders experiences only when making statements about brokers. In the case of Instaforex there are many employees trying to fake reviews and their ratings. So the actual rating is not exactly displaying our traders experience which seems to be worse according to the amount of complaints we receive.

    • InstaForex Gertrude says:

      Dear Omalyaiof,

      Please do not easily believe the information. It is your choice who you should trust to. But we kindly ask you to weigh the information above and make right conclusions.

  5. Quaser says:

    insta forex is really scam and also its scam another contest
    http://forex-broker-rating.com/contest in that website they support and pay prizxe 500 dollars every week I win this prize open a account and send them to credited prize but after 3 days a reply from web site that antifraud is decline the prize because they find some suspacious in my account, That is so funny and stupid thing they do in account that i never invest or do trade they find some thing. What a shameless company and their antifraud department that do that thing .This web site is scam and prize scam insta forex scam that is in 1st position on that site. Scam peoples do this please please please do not trust them, soon they are become defaulter and scam, safe your money and leave that broker and choose some other good broker,. Never invest them or their contest and their any thing because they are leir, scamer, fraud peoples. They theft your money and neve back you that money. 8695302 my account that open only and verified and they find some wrong in that. so funny thing scamer and scam their rating web site

    • IFX Yvonne says:

      Dear Mohammed Quaser,

      Please stop accusing our company without solid proof. We kindly ask you to please directly coordinate with the Antifraud Department again regarding that matter. You can also leave a message to the Administration of Forex Broker Rating, just fill in the form using the link provided below. Thank you.

      Link: http://forex-broker-rating.com/contacts

  6. Rofizan bin armi says:

    They are big scamer and also blackmailer because they disabled my withdraw option and also insta wallet scam their service. when I send my money to a person that is my partner then they back my money from his tarding account and also cut 10 dollars and after that disabled my withdraw option when I contact their basted antifraud department then they ask first id copy when i give them after that ask document in hand after that ask again high quality when I provide a clear then says its not you what a abbish and also send me that eamil after all of that and blackmail me to do not shre any comment against them see that antifraud comment. I says that must share my all picture The owner of the document and the person holding the document are different people. So it means that the document is not yours. Please, don’t try to mislead us regarding this matter. In case of attempts of blackmailing us in Forex community we will have to disclose all this information including the photos.

  7. Richardpip says:

    I don’t consider this broker is a scam. I am trading with them for long and never get scammed. On the contrary, they provide good services and benefits, for example ForexCopy system. I could get my first earnings thanks to this system. I only copied trades from successful traders and paid a low commission for this service. Also, with non deposit bonus, it’s not necessary to have money to start trading. You can receive up to $100 to open a new trading account.

    • Scamreporter says:

      Email: [email protected] – isn’t “ifx” short fot Instaforex? It’s also used by representatives of this company in previous comments. Do you now try to fake positive reviews without even using a fake or legitimate address?

  8. IFX Yvonne says:

    Dear Faisal Aslam,

    From which contest have you won?

    • Luca says:

      Instaforex is scamming many peoples out of there, I am one of them. Lost near $60k in 3/4 different occasions:
      1) During a NFP they placed a trade 600 points above my entry. Result: Lost ; Real Result: +22k
      2) Freezing the platform for 7 minutes during a trade. Result: -15k; Real results: +40k
      3) Moving my SL from -2k to -5k

      I have all the official MT4 Logs that prove them. I am looking for a serious Law Firm to make an official claim against them

      • IFX Yvonne says:

        Dear Luca,

        Have you tried to contact the Dealer Department regarding your case? If not yet, kindly specify your trading account number . Thank you.

  9. FAisal aslam says:

    insta is big scam company. they blocked my real account. They are scammer. cheators they blocked my commission account and ask me for document I privide them all they ask after that they open my account but no pay me my commission. they all agreement base is no profit for client if you are not trust then rea its please. scammer never invest yyor real money with the, one receive prize… who win one time never back in this contest. its totally fake. I also not receive my prize. I win three time but not receive till my prize.They make us fool when friday come they cancel my verification. I veify three time and get verification but after friday hey cancel it and make fool us with fake contests.

    • InstaForex Gertrude says:

      Dear FAisal aslam,

      Our company offers the most utmost opportunities for our customers and we are surely doing our best to assist and guide our clients needs.

      Please contact the support service by one of these two emails [email protected] or [email protected], providing your account number so they can assist you regarding your problem. Thank you and have a good day!

  10. Hassan says:

    i working in instaforex last 2 year they bastered disable my real account not bonus account 5 time when i get profit.This broker is not reliable.I advice to every one do not deposit ur money in instafoex they all are scammer and cheater

    • IFX Yvonne says:

      Dear Hassan,

      Kindly specify the complete details of your problem and do not forget to provide your trading account number. Thank you.

  11. Tosin says:

    Instarubbish, instanonsense, instafraud and instascam are their synonyms. Professional thieves!

    • InstaForex Gertrude says:

      Dear Hassan

      Kindly. provide your trading account number if you have problems using our services. Regarding to your claim, can you provide us any proofs?

  12. Tosin says:

    Instaforex is a big time scammer. If you want to trade profitably please RUNAWAY from instaforex.
    I opened 2 accounts with them. Placed the same trade (with same parameters) on d 2 accounts, the one with the bigger lot size hit SL while the other with a small lot size hit Tp.
    What is the definition of this is not FRAUD. I complained to them and they were telling me rubbish about gap. I’ll tell anyone who cares to listen to avoid instaforex like a plague. I was warned earlier but ignored it. Please stay away from instaforex for profitable trading.

    • IFX Yvonne says:

      Dear Tosin,

      Kindly give the complete details of your problem. Do not forget to specify your trading account number.

  13. mohammad ali says:

    before this,i don’t have any problem with this broker,after i’m start make high profit,they start aim me.my pending order change to other price while nfp release,they claim that because of price gap,but i don’t see any gap,support manager also agreed if don’t have gap at chart,the price is impossible to change.the statement is contradict between support manager and chief dealer.when i asking about my dialogue with support manager,chief dealer not reply.

  14. Yossuan says:

    InstaForex is probably the most questionable broker on the net.

    I write because I had an account with them what was the bigger mistake in my trading history, but peoples learn hard way!

    InstaForex:

    They provide deposit from 1 USD, swap-free account to everyones, and 3 pips in major currencies without additional fees/commissions.

    Their customer service is rude, platform via web and also via MT4 and MT5 very slow and prices what they provide differ at least 4-5 pips all the time from the real market prices (at some news releases with 40-50 pips (!) for 1-2 min)

    InstaForex gladly use price re-quote if market gonna with you, or if you have placed an order (buy/sell stop/limit) they usually execute it at another price what is better for them.

    No doubt you will be robbed if you trading with InstaForex, however money withdrawal working slowly and only with small amounts, above 3000 USD you will never see your money/profit, you can be sure!

    Above 10% profit per transaction of your initial deposit InstaForex cancel immediately your profit and scalping is although allowed in clients agreement but really no, because also all profit what you make with scalping below 5 min time period gonna be canceled by AntiFraud department and if you place a withdrawal request that will be canceled as well by reason that you tried to cheat the company before.

    Why they can do that all?

    –> because InstaForex is a non-regulated online broker company, who do everything by itself

    Why can be InstaForex since 2007 on the market?

    –> InstaForex try to get new clients all the time with promises like “you can win Porsche car” or “you can win 5000 USD daily in the competition” ..etc. and focus to get newby clients who will deposit in the beginning a small amounts and can get a commission when they attract their friends. If no attracting and you begin to make a profit they begin to cheat you and do everything against your profitability.

    Conclusion:

    A V O I D InstaForex, but if at all cost you wanna try and trading with InstaForex be very-very careful, deposit only small amount, trade only with small amount, and put request to withdrawal only small amounts otherwise you will be cheated and robbed very quickly.

  15. ismail says:

    Yes. I support that anyone says Instaforex is a SCAMMER.

    Its just happen to me yesterday after I make a withdrawal my profit from free bonus coupun.

    Last night they block my account trading in MT4 and my client cabinet. I send the email to their antifraud department (department which steal my momey) for a reason.

    Today, I have their reply and said my account was not available for the bonus coupon. Just like that they steal my profit/money. It is not reasonable.

    For Instaforex’s staff, this is my account number : 5425256. Go to investigate if what I say is wrong.

    Say no to INSTAFOREX.

    • IFX Yvonne says:

      The bonus in the account was cancelled in accordance with Coupon Bonus Agreement:

      6. The Company has a right to decline bonus crediting without assigning any reasons. The Company reserves the right to cancel bonus without a notice, for that reason it is strongly recommended not to include bonus in calculations of trading strategy profitability. The Company is not liable for any consequences of bonus cancellation, including the Stop Out, as the given bonus is the Company’s entire property until it is worked out by opening the required number of lots specified in Clause 7 of the present Agreement.

      There were bonus funds in the account only, that’s why the account was blocked permanently. In this case blocking of the account means bonus cancellation. If you have any questions, kindly send it directly to Antifraud Department.

  16. ahtasham says:

    Insta forex is not reliable company, they took my profit two times, one time I just left this matter and kept on trading and then make loses but Instaforex did not do any thing but two days ago when I made profit instaforex removed profit from my account without telling any reason. First time I got a reply that they deducted as per clause 10 but I don’t understand why why and why. They are scamming people and I am a victim of them. my account no is 7391412. file is also attached. Please refrain from trading with Instaforex. They give withdraw but they steal money when they want.

    • IFX Yvonne says:

      Dear Ahtasham,

      You have no right to claim our company is a scam, since you don’t have any proofs. Your profit was corrected according to the paragraph 10 of the Welcome Bonus Agreement.

  17. MarcozHW says:

    I’ve been using this broker for one month. This is my second broker. Good broker, low & fixed spreads.
    Requote is normal, just like others online broker. Withdrawal via my IB within one bussines day.
    Yes, I agree the customer service might be better.

    • IFX Yvonne says:

      Dear Clement,

      I urge you to please stop accusing our company without providing a solid proof. The Antifraud Department does not block bonus accounts without any reasons. I believed that all the accusations that you have found all over the Internet are baseless. We’ve been providing bonuses for our clients since 2008, and there are a lot of traders who succeeded in making money out of bonuses without investing a single penny of theirs. They had no trouble withdrawing their funds, because they followed all the rules and made no violation.

  18. Clement says:

    I am confirm they are really scams broker! I withdraw my earning profit then my account 7167535 got blocked from them and they reply me reasons is ” The account was deposited using bonus funds only so it was blocked” then the contest rules is “profit made over the prize amount can be withdrawn without any restrictions. ” I also found so many customers and social media website complain instaforex is scams broker. So i will not deposit any money to them if you deposit money to them your account will blocked from them, they blocked the client’s account as long as they like!

    • IFX Yvonne says:

      Dear Clement,

      The dealer acted in accordance with the agreement that you have accepted. They have already explained everything to you. Maybe you can contact them again by sending a message if you’re not satisfied to their response. Thank you.

  19. hassan says:

    i told to every one that instaforex is scam and broker broker this bloody bastered disable 5 time my real account when i send email thjat can not reply so i requested to all that you can not invest money on instaforex

  20. robert says:

    They never processed my deposit. They are scam above anything. Not even a deposit is allocated to the right account.
    They asked my credit card and id. Yeah right if they need more funds to plunder around. Biggest scam ever…..

  21. Elizabeth Voges says:

    I was always happy with Instaforex untill suddenly my leverage was changed (automatically?) and I had margin calls on my account.

    After the margin calls I deposited more money which was suddenly absorbed into a suddenly appearing negagtive bonus balance on my account!!! After a month of trying to get an explanation from them of what is going in…they concluded by saying there was a bug in my account and they discovered i owe them about USD 12 000 of bonus after the margin calls… How on earth??!!! I am so frustrated and will close all my accounts with them. I am convinced now that thy mismanage accounts.

  22. sherin vincent says:

    my name is sherin vincent, 2015 janu we had win the insta forex one million compition, $ 400 is the prize.. after the two months the pased the prize amount to my account no. again account verification takes two months, but the secind level verification is going on, now totaly 32 times i had send the documents and 6 different type of documents. actually this not reliable company . dont belive this russian bafoons dublicate company…..anybody can check my account…..A/C. NO is 1391388…P.W. is….deepu123

    • IFX Yvonne says:

      Dear Robert,

      To get verification of level 2, you should upload a scanned copy of the utility bill (not older than 3 months) or bank statement (not older than 3 months and must be signed and sealed by a bank official) or the turn page of the passport with his address.The scanned copy must be clear and in color.

  23. jan says:

    I am from Pakistan sir well known wikipedia says on 7april 2015 that instaforex is not regulated and they delete instaforex page

    • InstaForex Gertrude says:

      Dear Adnan,

      Please do not believe the information written on the sites that you have mentioned because all of them are baseless. Our website is still working. It is your choice who you should trust to. But we kindly ask you to weight the information above and make right conclusions.

      Sincerely,
      InstaForex Gertrude

  24. Adnan says:

    i am Adnan From Pakistan and i am so much confused that how to start working with Instaforex. Would anyone please help me in this scenario ?

  25. IFX Yvonne says:

    Dear Цецо,

    May I get your trading account number to check your account?

  26. PINAL G Soni says:

    I wam from india. and we trade from last 2 year in instaforex.
    they provide very good service and no have any compalins.

  27. Цецо says:

    I won a prize in one of their contests but they disqualified me just because half of my IP numbers coincide with someone else’s. A dishonest broker, I wouldn’t put my life savings with them, no freaking way.

    • InstaForex Gertrude says:

      What type of contest in Instaforex you are joining with? What makes you conclude that Instaforex cheated on you?

      Let us draw your attention to the following rule, which you can find in both contests:

      6. In case of detecting activity from two or more accounts with the same IP the administration can disqualify their owner. In this context, we strongly recommend avoiding GPRS and 3G modems.

      The IP you used matched with the IP using to trade in other accounts. We don’t know how it could happened – either both accounts belong to or that was just the IP match. We do not have enough resources to investigate each IP cross, because there are hundreds of contests accounts. That’s why there’s a rule, according to which we can disqualify any contestant in case his IP was used in trading on more than 1 accounts. As the contestant, you have accepted those rules and took all the risks of using GPRS and 3G modems. So now we are really surprised to see you complaining that you were deceived. We hope you will overview your opinion regarding our contests and next time use a statiс IP to participate. We sincerely wish you good luck!

  28. Loni says:

    InstaForex is not a scam! Infact I am receiving bonuses every week and profits every week and they always give it to me whenever I want to get it.

  29. Shan says:

    Good, fast execution and I’ve never been re-quoted for 6 months trading with Instaforex. I don’t have a real complaint with this broker because they provide everything.

  30. InstaForex Gertrude says:

    I suspect that what you heard or read regarding InstaForex may be other brokers’ way to attack our company’s reputation. I assure you that everything we promise is true and cannot be broken .