I'm familiar with how it went down, and it is referenced all the time. If they were as transparently underhanded as Insta appears to be, and there were many who could talk about their experiences first-hand, I'd have the same comment without a doubt. I don't think that was the case with Refco. I spose, it's also possible we're all just blindly buying the slander, as the rep suggests...
I am researching a standard-cent account at IF. I am trying to understand the order sizes accepted. From what I think I have figured out is 5 different decimal type of orders (maybe only 3, this is unsure and not clear): 1.0 =? per PIP 0.1=? per PIP 0.01=? per PIP 0.001=? per PIP (unsure, not clear)) 0.0001=? per PIP (unsure, not clear) What are the per pip values for each of these above...assuming I got this right. Maybe it is like this: Standard-Dollar Account 1.0- 1 PIP=10 Dollars (standard) 0.1- 1 PIP = 1 Dollar (mini) 0.01- 1 PIP = 10 cents (micro) Standard-Cent Account: 1.0- 1 PIP = 1 dollar (mini) 0.1- 1 PIP = 10 cents (micro) 0.01- 1 PIP =1 cent (nano)
Ok..I got the answer from the InstaForex support email... Dollar account: 0.01 = 1 cent 0.1 = 10 cents 1.0 = 1 dollar 10.0 = 10 dollars 100.0 = 100 dollars 1000.0 = 1000 dollars Cent account*: 0.1 = 1/10th of 1 cent 1.0 = 1 cent 10.0 = 10 cents 100.0 = 1 dollar 1000.0 = 10 dollars ES * = Demo not available.
Congratulations on being sued by the CFTC! http://www.cftc.gov/PressRoom/PressReleases/pr5974-11.html
Maybe not, if what we hear is true and InstaForex head office and funds are in Russia, firmly beyond the US jurisdiction.