Is InstaForex a Licensed Broker?
The short answer is no. InstaForex is not licensed or regulated by any reputable financial regulatory agency, such as the Financial Conduct Authority (FCA) or the Securities and Exchange Commission (SEC). While it may have some certifications, such as a certificate from the Russian Association of Financial Market Members, these do not hold the same weight as a legitimate license from a regulatory agency.Why Should You Not Trust an Unlicensed Broker?
Working with an unlicensed broker is risky business. Without regulatory oversight, there’s no guarantee that the broker is operating in a fair and transparent manner. Additionally, if you run into any issues or disputes with the broker, there’s no governing body you can turn to for assistance. You’re essentially on your own.
Can InstaForex Be Trusted?
Given that InstaForex is unlicensed and unregulated, it’s difficult to say whether or not it can be trusted. However, there have been numerous reports of traders having issues with the broker, such as problems with withdrawals, requotes, and slippage.
What Do Traders Think About InstaForex?
If you look at online forums and reviews, you’ll see that opinions on InstaForex are mixed. Some traders claim to have had positive experiences with the broker, while others warn against working with it. However, it’s worth noting that many of the positive reviews appear to be fake, and there are numerous reports of the broker paying people to leave positive reviews.
Was scammed by InstaForex? – Talk To Our experts
If you’ve been scammed by InstaForex or are considering working with a broker, we highly recommend speaking with one of our experts. We can provide you with a free consultation and recommend trustworthy brokers that are licensed and regulated by reputable financial authorities.
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