They say that Instaforex broker often commits fraud, is it true or not?
This is just hearsay, it's best if Mr. Fery S tries it first. In our opinion, this is only a matter of the trader's own perspective. We ourselves do not know for sure what kind of fraud Instaforex is doing? In Indonesia, Instaforex has many branches. If Instaforex were to commit fraud, it would have been abandoned. In our opinion, this is business. It often happens that there is competition among Brokers or their own IB. My advice is to try it out. And if you feel there is fraud, it is better to leave it. thanks
To Fery S,
Could you please explain in more detail what kind of fraud you are referring to? Because to date, this forex broker still exists and serves clients/traders from all over the world. In addition, in Indonesia itself, this broker has a fairly large number of clients/traders and also has hundreds of IBs spread across cities throughout Indonesia.
Regarding the pros and cons of a broker, it is common. Therefore, if fraud does occur (especially if there are many victims), it is recommended to immediately report any fraudulent acts to the regulatory body that oversees the broker (of course, it must be accompanied by valid evidence).
Hopefully this can help.