Instaforex does not process withdrawals

Sig said:
If some dude accosted you on the street and took just "a few hundred dollars" or broke into your house and stole "just a few hundred dollars" you'd probably be pretty mad, file a police report, demand justice.... And if I heard you telling the story at work the next day and my response was "why do you care so much about a few hundred dollars loss, forget that and move on" it would be a pretty jerk thing to say, right? Obviously the OP should have known the risk, just like you maybe should have known the risk of walking in the part of town where you were mugged, but that doesn't mean it's cool to tell either of you to just chill out and move on.
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I got your point, but you're comparing apple with orange IMO.
 
ybfjax said:
Can the OP file a police report? Or consider taking it to FPA traders court?
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What jurisdiction would they have in Russia or some Caribbean island? Also, Forex funds are not insured. Yeah you can sue them internationally but it would most likely be a waste of money (Russian courts...)
 
dw31583 said:
I don't reallyy care about it, this is why I don't create a blog about this right now but just because it's a few hundred dollars it doesn't mean that they don't owe me money. It's a brokerage company, a financial company, they should stick to the rules. People doesn't expect this to happen. I was trading with them and if they hedged my positions then they made some nice commissions on my activities and when it's time to pay my money back then they change my balance in every single day just like it would be monopoly money.

As long as it's zero, I'm fine. But a negative balance? Seriously? I had to send them 3 emails to clear my negative balance because first they said that I owe them money...
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Agree. It's not about money itself. It's about merit and reputation. If they can steal hundred of dollars this time, they can do this to others in the future and cause much more loss.
 
It's a shame you now can't even try to trade your money out using a parallel counter trades account.

Regarding them and how they can get away with such blatant illegal practices, given everything and possible scenarios, one should consider the possibility that the entire operation is connected to organized crime.

Best thing is probably to keep your records for any eventuality and move on.
 
I honestly think you should just find a way to wash trade your way out of this. The problem will be on what method you'd use to guarantee one side loses vs the other. Can you buy options on anything? Have another account sell options on some ridiculously far out strike that no sane person or MM would ever hit the offer on - then hit it from this problem account.
 
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