is instaforex a reilable broker?

[4xpipcounter]

I tried to open an account with them. I sent a few e-mails to find out why I got no response. They just ignored me. Finally I got an e-mail, "request rejected".
I often wondered if it was because I opened a demo with them and had 19 consecutive good trades with over 200% gains for the month, and so it scared them off. They even put a lock on my demo account.

BTW, your company had the best demo account I ever had. I'd be happy just to have a demo account back with them.

Also, let me be clear. I'm not bashing brokers, as per se. I just think they all have issues.

Have you ever been similar problems with our company?

 

[Piratetrader]

I tried to open an account with them. I sent a few e-mails to find out why I got no response. They just ignored me. Finally I got an e-mail, "request rejected".
I often wondered if it was because I opened a demo with them and had 19 consecutive good trades with over 200% gains for the month, and so it scared them off. They even put a lock on my demo account.

BTW, your company had the best demo account I ever had. I'd be happy just to have a demo account back with them.

Also, let me be clear. I'm not bashing brokers, as per se. I just think they all have issues.

Sir really you have this born talent of so nicely pulling one's leg, I read the above message about your thoughts on demo account and almost bursted my stomach laughing

 

[4xpipcounter]

It wasn't meant to pull anyone's leg. I was just being honest.
I actually made the previous posts before it dawned on me who Yana represents.
BTW, Yana, I am not implying you are with a bad broker. Needless to say, I have no live experience with them. There attitude towards me, however, I think typifies the attitude of most brokers.

Sir really you have this born talent of so nicely pulling one's leg, I read the above message about your thoughts on demo account and almost bursted my stomach laughing

 

[d_hasta]

Yana, I agree with you. I think brokers trading against their clients is a lot of needless hype. The biggest issue I've experienced is their customer service.

I totally agree with 4xpipcounter.
It is true that more than blaming the brokers we need to get our trading skills & techniques straight & improve them. Also while choosing a brokerage firm we need to check out their customer support & regulating bodies.

4xpipcounter- your trading expertise scared instaforex & many other brokers i guess...

 

[TraderSe7en]

Input.

The so called 'regulations' are all a private joke. Only a few limited regulators can actually keep broker houses tight, Else it's all a private joke.

NFA, FIFO, CTFC, Cyprus Regulators and all are jokes. Regulations for namesakes.

By far, the Most amazing Regulators I've known are FSC Mauritius, SEBI India.

 

[4xpipcounter]

This is a true story:

In 2006, was only 2 years into trading. I was doing okay, but I still had a ways to go to more thoroughly perfect my methodology. Someone came to me to give me some advice about watching for some brokers who trade against their clients.
We became friends (and still are), and as time evolved, he also became a good trader. Now, he no longer talks about forex brokers trading against them. He was conned into thinking that many could do that.
Brokers trading against someone, for the most part, is an excuse by people who have failed.

I totally agree with 4xpipcounter.
It is true that more than blaming the brokers we need to get our trading skills & techniques straight & improve them. Also while choosing a brokerage firm we need to check out their customer support & regulating bodies.

4xpipcounter- your trading expertise scared instaforex & many other brokers i guess...

 

[d_hasta]

Brokers trading against someone, for the most part, is an excuse by people who have failed.

I second that! though one maybe trading through the world's best brokerage houses one needs to have their trading techniques up to the mark & strong strategies.

As for regulating bodies- EU is the best I suppose with stiff regulations. Any views about the same?

 

[IFX Yana]

This is a true story:

In 2006, was only 2 years into trading. I was doing okay, but I still had a ways to go to more thoroughly perfect my methodology. Someone came to me to give me some advice about watching for some brokers who trade against their clients.
We became friends (and still are), and as time evolved, he also became a good trader. Now, he no longer talks about forex brokers trading against them. He was conned into thinking that many could do that.
Brokers trading against someone, for the most part, is an excuse by people who have failed.

We think this behavior of some competitors is unprofessional. But of course, our company does not use similar methods, even just there is no sense.

 

[4xpipcounter]

Past issues I have had with brokers has been their customer service. Another problem has been responsiveness of their live platform.

I just can't envision even the ability for any broker to be able to trade against their clients. Prices are the same worldwide. There is no deviation from that. Also, if one price on any one pair could be manipulated, then all of them would have to be. They are all mathematically related. As an example, GBP/AUD*AUD/CHF=GBP/CHF. In other words, when one pair gets manipulated, every currency will go with it.

We think this behavior of some competitors is unprofessional. But of course, our company does not use similar methods, even just there is no sense.

 

[4xpipcounter]

In subscribing to that type of thinking, I really believe it takes out my personal control to strictly follow the guidelines and adhere to the principles of my methodology. As an example, look what happened to the USD/CHF after it bottomed out at .7066. There was so much talk about SNB intervention. The strong reversal was already predictable before the rhetoric hit the fans. Now the price action is being contained under a fresh weekly cloud. In spite of SNB hype, The reversal was predicted, and then containment on the UP side was also predicted.
LOL, Dhasta, I'm the worse there is if you are looking for props for the FA's. My TA's have worked, and I have always stuck to them.

I second that! though one maybe trading through the world's best brokerage houses one needs to have their trading techniques up to the mark & strong strategies.

As for regulating bodies- EU is the best I suppose with stiff regulations. Any views about the same?