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#1 12-07-2017 11:58:39

johnedward
Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 1839
Website

Instaforex removed from Forex-Central.net...

Instaforex removed from Forex-Central.net


As of today, we have decided to remove Instaforex from Forex-Central.net

The main reason is a dispute over the payment of commissions. Not really much to dispute, it's simply that I do not agree with Instaforex's contract terms, which are quite stupid (for lack of a better term): "In case the amount of commissions from trades of a given Customer exceeds 30% of the total amount of commissions credited to the affiliate account, ..., the Company reserves the right not to pay the commissions to the Partner and exclude such Customers from the affiliate group."

So what they are saying is that if you bring in a BIG client whose commissions will represent over 30% of your overall pending commissions, they reserve the "right" to not pay you your commissions!

I'm not sure if the people who designed and approved this policy are dumb or just greedy, probably a bit of both. When you implement a web-based commission system, the goal is to encourage your affiliates to bring in as much business as possible. But withholding commissions from an affiliate due to this clause just demonstrates A) that the broker is only interested in short-term revenues regardless of the medium-term and long-term impact that this decision will have on future revenues generated by an affiliate and the quality of the broker-affiliate relationship, and B) that the broker has no clue as to what constitutes a FAIR commission system. Imagine you just became an Instaforex affiliate and you have only attracted 1 client; commissions generated from that client will represent 100% of your commissions, so you will not be able to withdraw any commissions until you have attracted a total of at least 4 clients who represent, for example, 29%+29%+29%+13% of your commissions.

Or, if you attract a huge trader - which does happen - who deposits $200,000. Well, good luck trying to withdraw any commissions from Instaforex!

Anyone with a sales background - and I have one - will look at Instaforex's affiliate system and laugh. For a large number of affiliates, it does not make for a win-win situation. And the other brokers on this website do not employ such tactics to avoid paying out commissions to their affiliates. So, this is why I have decided to remove Instaforex from the website.

But apparently, I'm not the only one that has had an unpleasant experience with Instaforex...

Is Instaforex a "SCAM"?



As the above-mentioned situation bothered me, I decided to do a quick search on the internet to see if others were having problems with Instaforex. What I found is rather disturbing, to say the least. One of the first results that comes up is the Instaforex listing on ForexPeaceArmy, a reputable website that lists over 3000 forex websites. It is the largest and best collection of human-moderated forex reviews anywhere in the world. Anyways, I'm not going to summarize what I discovered, read what ForexPeaceArmy and some Instaforex traders have to say.


"Anything worth having is worth going for - all the way." - J.R. Ewing

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