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.
We are all faced with a series of great opportunities, brilliantly disguised as unsolvable problems - John W Gardener