2 days ago I wanted to WD from my instaforex account, it turns out the information I got was that I cannot WD for 6 months & the possibility of WD is 50% because my account has ever deposited via LR. Is it true that Insta has such a policy? Even though my profit is greater than the deposit I made. It doesn't seem fair if my equity is cut by 50% unless only the deposit via LR is frozen. Please provide information & solutions. Thanks
Since the LR case, all brokers using LR have had some problems. Some brokers offer a policy of replacing it with other payments, while others do not. Insta, according to the issue, suffered billions/trillions in losses due to this LR case. And until now, you can access the LR site yourself to see its condition.
So, it’s better to look for alternative payment methods.
Thanks
@mbah mito: It's true that the central InstaForex policy cuts 50% of the total withdrawal that was deposited through LR. It's indeed unfair, but that's the fact. Back in 2013, I experienced the same thing where my withdrawal was even subject to another 50% deduction by the IB due to their losses. So, from the total 100% of my account balance, only 25% could be withdrawn (50% from central InstaForex + 50% from the IB). Since then, I've always tried to use e-money like neteller, skrill or fasapay for deposits and withdrawals. This should be a lesson for us to be more careful in choosing deposit and withdrawal methods.
Thank You