fpa vs instaforex

who is right and what is the outcome of these accusations.

fpa changed status to 'scam alert' for russian brokerage InstaForex
I have seen some skepticism towards Insta, but most of the activity would have been a non issue had traders known that insta require a position to remain open for more than 300 seconds then only can it be closed or partially closed. Also their fixed spread and alongside a claim to be a MM or provide ECN connection is still an open discussion elsewhere.

So i wrote to Instaforex and questioned the alert on fpa about scam broker. Insta forex replied:
«Forex Peace Army» Internet resource (forexpeacearmy.com) is an anonymous fraud project which gains profit from blackmailing brokerage companies and dealing centers. By means of Internet Search you can find a lot of evidences of that this project is scam. More detailed information about our company’s position concerning this scam website is available here: https://instaforex.com/forexpeacearmy.php

I sent this to fpa, who dont have contact details on their website, but an internal mail system. i posted this message and almost a week without a reply. I will update this post when i gain more information. Just wanted to gain some responses.

Is Forex Peace Army, a scam or Instaforex? any opinions welcome.

https://www.moneymakergroup.com/Forexpeacearmy-Scam-Warni-t193018.html&p=4794818#entry4794818

Just when i though FPA was a good resource, now i am totally confused

Jaypipin posted:
who is right and what is the outcome of these accusations.

fpa changed status to 'scam alert' for russian brokerage InstaForex
I have seen some skepticism towards Insta, but most of the activity would have been a non issue had traders known that insta require a position to remain open for more than 300 seconds then only can it be closed or partially closed. Also their fixed spread and alongside a claim to be a MM or provide ECN connection is still an open discussion elsewhere.

So i wrote to Instaforex and questioned the alert on fpa about scam broker. Insta forex replied:
«Forex Peace Army» Internet resource (forexpeacearmy.com) is an anonymous fraud project which gains profit from blackmailing brokerage companies and dealing centers. By means of Internet Search you can find a lot of evidences of that this project is scam. More detailed information about our company’s position concerning this scam website is available here: https://instaforex.com/forexpeacearmy.php

I sent this to fpa, who dont have contact details on their website, but an internal mail system. i posted this message and almost a week without a reply. I will update this post when i gain more information. Just wanted to gain some responses.

Is Forex Peace Army, a scam or Instaforex? any opinions welcome.

FPA is far from being a scam. If a trader raises a legitimate complaint FPA will investigate and report on its findings, thus alerting the community to potential problems. My understanding of this particular case is that FPA gave Insta ample opportunity to reply, but 'alleged' supporting evidence was not provided by Insta.

With that said, it's up to the individual trader to make up his or her own mind. In my opinion Insta does not seem to be a bad broker overall. The issue with FPA, to my knowledge, is related to bonuses.

I looked into it a while ago, seemed like almost every problem was Bonus related
conclusion: stay away from the bonus and trade without it. (always a lot of fine print with bonusses everywhere)

thanks for posts Gary and financialalerts, i am still waiting to hear back from fpa about the allegation. What i take more from fpa are the remarks, look for how many posts per broker and then read them, its easy to tell if its a con, by shortness of remark and lack of sincerity. Similarly on myfxbook, some brokers have very few comments so its hard to make a fair assumption.

still no reply from FPA, this is not reassuring, why do they not have legitimate contact details on the website and what of the associations albeit allegations as well, but nonetheless associations until proven innocent from these other companies. see link (start at top - alot of work seems to have gone into the research and connections between the alleged companies and websites.)
https://www.moneymakergroup.com/Forexpeacearmy-Scam-Warni-t193018.html&p=4794818#entry4794818

FPA should reply to my request it is lame and unprofessional for them to take this long. I will attempt again and this time with diff alias and context.

FPA is far more superior to instaforex , it alerts us about scam brokers , Long live FPA.

instaforex must have problems and irregularities which FPA reported , and insta failed to respond in proper manner that's why they marked it as scam

Further more FPA has no conflict of interest with traders where as brokers might have it , use your head FPA is Savior of traders.

From the last 6 months i am trading with instaforex. They are genuine and very skilled. I feel, it is one of the best forex brokers in the world to provide very easy and risk free trading system to the traders. Frankly, even a new traders can also succeede with their system. Ther payment system is also very perfect.

ckommoju posted:
From the last 6 months i am trading with instaforex. They are genuine and very skilled. I feel, it is one of the best forex brokers in the world to provide very easy and risk free trading system to the traders. Frankly, even a new traders can also succeede with their system. Ther payment system is also very perfect.

totally agree with you ,i'm with them since 9 months and another live acc at gomarket ,both are great brokers

@ckommoju: i dont think your statement is valid, 'they are genuine and skilled' well lets start with genuine; this is case by case, as i see many complaints, so maybe for you the experience has been good, count yourself lucky. And genuine does not reflect the state of a brokerage, are you questioning if they are real and offer what they say they do, well they would have to be in order for you to have an account. Skilled almost impossible to gauge, do you know them personally, what qualifications do they have, how many staff, how skilled do you need to be to answer a phone and send money from one account to another. Most of the software eliminates human error, so effectively you are saying they have good software again giving you a fortunate experience. What do you mean they have a good system, they are a broker, they dont offer signals or robots or similar, they are an intermediary, the pamm service is maybe what you are referring to well that is case by case, and i see the performance overall is really bad on insta, alot of traders losing money on pamm and top performers have bad drawdown, shaky performance..

I think you get my point, and what of the spread!!! you say even new traders can succeed, what kind of statement is that! honestly 90% of traders lose money so how will a newcomer just be successful because they trade with insta. I would strongly disagree. their spread average is really bad, about 10 on non major pairs, major pairs fixed 3 is that what you experience? i ran a spread test and i do this for 20-50 brokers so i know what im talking about. Look at my current demo trading, insta has the worst performance because i would not allow my trade copier to enter trades with insta because EURAUD is 10.0 spread.

This is a strong argument for a new trader to lose money with insta. Try pepperstone, or alpari ecn these are good honest brokerages with spread averages at 2.5 not 10. Your comments leave me questioning your purpose. Are you working for insta perhaps.
Reason i started this campaign was because insta have a pamm system and leaderboard so it is good to promote activity. But 'alarm bells ring, you say your heart still sings' libertines. I wanted to open a pamm account, but soon as i saw fpa... i started this blog.

@XharpScalper: valid comments. but still i am not comforted in the manner which FPA have ignored my emails, and do not have contact details on their website.

I'm with Instaforex for over 3 moth's now,
haven't had a problem with withdrawing money
3 Pip fixed spread you say?
enter a rebate provider promotion key when opening an account, it greatly reduces spread costs,
as I only trade the eurusd pair i don't care about the spreads from other pairs.
I only use the PAMM system to trade,
why? Because if they screw with you there, they have more angry people to answer to because its not only ur money at stake.
So overal: Only problems I had was to get the first cash uploading, after that, no more trouble.
I'm not encouraging others to trust them, I can only say things from my personal experience.
I don't take all the things people say about a broker serious. Most people don't know what they are talkng about.

Do you research, Before trusting a broker completely, only get in with them with a small deposit.
Never take welcome bonusses. Which cause the most reasons for discussion.
(And try not to scalp to much.)

Financialarts posted:
Do you research, Before trusting a broker completely, only get in with them with a small deposit.
Never take welcome bonusses. Which cause the most reasons for discussion.
(And try not to scalp to much.)

Agree totally!

And another big win for me at instaforex today ^^

@Financialarts - Well done !
I wrote to FPA on their website on two occasions last week (2 Feb 2013) they simply ignore me.
So i am beginning to think FPA is not completely trustworthy
I will try a live account with insta in a few months

I think on FPA most brokers tries to set up bad stories about the other ones,
You don't know who to believe anymore.

XharpScalper posted:
Further more FPA has no conflict of interest with traders where as brokers might have it , use your head FPA is Savior of traders.

If you derive income from advertisement slots sold to brokerage firms, then there is a conflict of interest :)

moneygrows posted:

XharpScalper posted:
Further more FPA has no conflict of interest with traders where as brokers might have it , use your head FPA is Savior of traders.

If you derive income from advertisement slots sold to brokerage firms, then there is a conflict of interest :)

burn, thats true

moneygrows posted:

XharpScalper posted:
Further more FPA has no conflict of interest with traders where as brokers might have it , use your head FPA is Savior of traders.

If you derive income from advertisement slots sold to brokerage firms, then there is a conflict of interest :)

So who pays for FPA? Who pays for Myfxbook whilst we're on the subject? There is conflict of interest all around us from national television broadcast networks to your local newspaper, and especially online where we expect everything free of charge. Someone's got to pay somewhere along the line, and if it's not you or me, then it's usually advertisers. It's up to you and me to keep an open mind, tempered with just the right amount of healthy skepticism when performing our due diligence of a broker or service provider.

Personally, I ALWAYS start with forums to get a feel for community feedback. Myfxbook, FPA, and Earn Forex are good sources to begin with. Next I like to look at regulation and the credibility of the regulatory authority relevant to a broker, the legal jurisdiction in which they operate, segregation of client funds and the credit rating of the financial institution holding those funds, a physical business location, etc., etc., to build as complete a picture as possible. I have no problem communicating directly with regulatory authorities and financial institutions to confirm details provided by a broker and/or service provider, and if these details cannot be confirmed I run away!

Overkill? Yep! But I sleep at night knowing my funds are safe.