Instaforex 1:1000

J

JDTRADER

Experienced member
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Hi Guys

New Look T2W (y)

I have been away due to ill health and now I'm signed Long Term Sick. (n)

Had to draw funds from my Live account and with reduced funds I was looking for a MT4 Forex Broker with HIGH Leverage.

Forex | Instaforex.com | Currency Trading | Forex Broker

I came across Instaforex offering 1:1000 and I know some of your think 1:1000 YOU CRAZY lol

Not as crazy as it sounds but hey each to there own :sneaky:

My Review (So Far)
Demo
The Demo worked well all major pairs fixed spread at 3pips
No Re-quotes
On occasions execution was slow but in the main fast
4 digits on Demo

Live
5 digits on Live via Europe Server
Not actual placed a Live trade yet but had few problems

Deposited $106 to get the bonus of $30
Plan was to deposit get bonus then withdraw working with the free $30 but run into commission issues. Cost me just over $3 to deposit and looks a nightmare to withdraw. I used Debit Card to deposit thinking I could withdraw back to card. Deposit was via Moneybookers but to withdraw via Moneybookers I need an acount. Bank Wire $25 or via PayPal

So I got $136 now on this account and I'll trade this rather than withdrawing (read the small print lol)

Seems to be a clash when switch from Live to Demo. On the Live acc I had no charts with history I had to download and when that didn't work I had to reinstall. Support was given by Skype which was fast and detailed, although they couldn't give me a reason why this happened.
I have used a LOT of MT4 platforms and this is the first time I ever encountered this problem. On reinstalling (Losing all my chart set ups on the Demo) the Live account worked fine expect NZD/USD. But the the same problem occurred on the Demo with some pairs having no chart history. I was able to download Archive.
Switch from Live to Demo I lose the 200 SMA ? odd even they don't know why.

Looked over this thread and had not seen a thread on Instaforex so is there anyone else who has used this Broker :?:
 
I have not used this broker but I wish you well in health and trading. As you are aware high leverage is a double edged sword.

Also, before you reinstall MT4 again for some reason, you CAN save your charts and templates. It takes a bit of manual work but will save much headache later.

Peter
 
wackypete2 said:
I have not used this broker but I wish you well in health and trading. As you are aware high leverage is a double edged sword.

Also, before you reinstall MT4 again for some reason, you CAN save your charts and templates. It takes a bit of manual work but will save much headache later.

Peter
Click to expand...

Thanks wackypete2 (y)
 
This reminds of some of the smaller Poker sites.

**** easy to deposit but when you try to take money out of the account they make it as difficult as possible. They know people likely won't have moneybookers or Neteller and the hoops you have to jump through to get verified with those 3rd parties are plentiful.

Scumbags. I'm always super careful now.
 
Day One Live trading

Well its not a good start. Tons of re-quotes and excution is very slow

ECN/STP well if so needs to be speeded up.

Got onto Live Chat and they could not see a problem with my account but have passed my compliant to the Dealers. Thought they had no dealing desk ?

Only Day One so lets see how it goes +$ so far but fighting with the platform
 
JDTRADER said:
OMG !!!

Thought I did enough due diligence but looks like not enough :(
Click to expand...

No offence but all you needed to do was google 'instaforex scam'. Forget about what they say about themselves, what are others saying? From what I've seen it's the usual story of being unable to withdraw funds.
 
Day 2

Not going to update everyday unless I have news.

Today just checked my back account to see I got:

OVERSEAS TRANSACTION FEE £1.25 Deposit £64.89
OVERSEAS TRANSACTION FEE £1.25 Deposit £6.42

For two deposits !!

Deposit by Debit Card via Moneybookers

Bear in mind the account is in Dollars that is roughly $4.78

So to deposit $106.96 cost me just over $8 with the Moneybookers fee added in.

Got a $30 bonus for depositing over $100 but to withdraw the bonus you have to unlock by trading at least 90 full lots of 1.00. As this is a Micro account its going to take a while to unlock that. Today I got 0.32/90.00.

Execution is spot on today but I did give Support a piece of my mind on Skype yesterday to the point they ignored me in the end lol

Plan is to get to $300+ then withdraw

Dep $97.66
Dep $9.30
Bonus $30
Acc Bal. $136.96

Acc now at $143.56 +4.82%
 
JDTRADER said:
Day 2


Execution is spot on today but I did give Support a piece of my mind on Skype yesterday to the point they ignored me in the end lol
Click to expand...

Spoke to soon, getting two positions out in GOLD got re-quoted 3 times losing a bit of profit :mad:
 
Thats 8% of your account that they have taken off you before you even start.


JDTRADER said:
Day 2

Not going to update everyday unless I have news.

Today just checked my back account to see I got:

OVERSEAS TRANSACTION FEE £1.25 Deposit £64.89
OVERSEAS TRANSACTION FEE £1.25 Deposit £6.42

For two deposits !!

Deposit by Debit Card via Moneybookers

Bear in mind the account is in Dollars that is roughly $4.78

So to deposit $106.96 cost me just over $8 with the Moneybookers fee added in.

Got a $30 bonus for depositing over $100 but to withdraw the bonus you have to unlock by trading at least 90 full lots of 1.00. As this is a Micro account its going to take a while to unlock that. Today I got 0.32/90.00.

Execution is spot on today but I did give Support a piece of my mind on Skype yesterday to the point they ignored me in the end lol

Plan is to get to $300+ then withdraw

Dep $97.66
Dep $9.30
Bonus $30
Acc Bal. $136.96

Acc now at $143.56 +4.82%
Click to expand...
 
pboyles said:
Thats 8% of your account that they have taken off you before you even start.
Click to expand...

Exactly mate (n)

As a first deposit they gave me $30 so even though I'll probably not unlock still gives me extra margin.

Soon as I get to $300 I'll get out and take the hit in charges so I'm out in front. And like I saying probably not unlock the bonus points to withdraw the $30 so I'll trade that up if all goes to plan.

Then open another account closer to home with FREE deposit/Withdrawal :smart:

All that glitters is not GOLD

1:1000 yep your paying for it :-0 or should I say I AM :mad:
 
Re: Instaforex 1:1000 ant reviews ?

Anyone else traded at Instaforex ?

Or am I the only mug :LOL:
 
Re: Instaforex 1:1000 ant reviews ?

JDTRADER said:
Anyone else traded at Instaforex ?

Or am I the only mug :LOL:
Click to expand...

There was a bunch of guys on forexpeacearmy that were trading with them but that didnt work out too well.
 
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