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Some anonymous author from Iran opened an account on the name of the false person for executing orders on the basis of failures in the quotation system caused by increased market volatility.
Failures were very short in character and each failure continued for not more than 60 seconds, but this was enough for scammer to use several failures for making 8 000 USD from 100 USD.
In accordance with the Public Offer Agreement, accepted by the scammer, his orders opened with the unmarketable prices were canceled. All his deposit (100USD) was returned to him. InstaForex has never appropriated clients’ funds, however our actions against scammers always are very strict. In this case we closed his account, and this person doesn’t have right to use it anymore.
We would like to underline that we have very strict position against scammers who try to use failures of software for stealing funds from company’s accounts, because no deal opened with unmarketable quotations can’t be hedged on the external market.
This anonymous author from Iran tried to use failures in quotation system for making profit from the air. After these attempts were discovered and suppressed, he decided by means of blackmailing to get 8000 USD. We refused to obey his demands and he made a distribution to all company’s contacts trying to put pressure on our company this way. No methods of blackmailing from scammers can’t be perceived by our company as an argument.
For statistics (statistic of InstaForex): more than 30 % of all scamming attempts were made by clients from the Middle-East region (Iran, Syria, Lebanon). InstaForex doesn’t humiliate dignity of other countries, however we have to underline the high level of deviousness among clients from mentioned above countries and this case is the latest proof of this fact.
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