InstaForex is the brand name of the Russian broker InstaForex Group. The company has no license and is not authorized to offer financial services. Although the broker claims that in 2013 it voluntary resigned its Belize license, most reviews in forex forums show that the International Financial Services Commission (IFSC) terminated it for legal violations. The company is in the warning lists of French regulatory body (AMF) and Ontario Securities Commission (OSC).
There are a lot of negative posts and reviews in forex forums that inform about poor customer service, unreasonable deleting client’s profits and accounts and huge difficulties in withdrawing money. Moreover, there are recommendations not to deal with this company and it is confirmed as a pure scam.
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