InstaForex is a multiple award-winning forex and CFD trader. The brand was founded in 2007 and has become a global broker with about 260 offices around the globe. The broker’s website is available in 27 languages. InstaForex sponsors several contests, veteran athletes and many sports events. It boasts of over 7 million clients from all over the world.
InstaForex Regulation and Security
The regulation of InstaForex is questionable. The broker states that it is licensed by the Financial Services Commission (FSC) of the British Virgin Islands (BVI). It is also registered with the FSC in St. Vincent and the Grenadines. Most traders are apprehensive when dealing with offshore regulated brokers.
Instaforex states that it has 9 trading servers. These servers are protected with modern security technologies. The website and platforms are protected with SSL. This is to deter internet fraudsters from hacking into the system.
Trading Instruments on InstaForex
InstaForex offers over 200 tradable assets for trading on its platforms. The broker offers 107 currency pairs, 90 shares, 26 commodities, 7 indices, and 5 cryptocurrencies.
Account Types and Trading conditions
To open an InstaForex account, fill a registration form on the website and the account is opened within a few seconds. A variety of account types are offered and they are grouped into “Insta. Standard” and “Inst.Eurica” accounts. The maximum leverage is 1:1000 for all account types. Here are the account types:
Insta.Standard Trading Accounts
These accounts are charged from the spread with no commissions. The spread starts from 3 pips. Traders are allowed to adjust the trading leverage and choose a capital within his budget. The following sub-accounts are available:
- Micro forex: The minimum deposit is $1
- Mini forex: The minimum opening balance is $100
- Standard Forex: The least deposit is $1,000
Insta.Eurica Trading Accounts
Commissions are paid on trades. Spreads are usually zero or very tight. Only $1 is required to open an account while there is no maximum deposit.
The minimum opening balance is $1 and the limit is $1,000. Spread starts from 3-7 pips.
The minimum opening balance is $1 and the maximum deposit is $1,000. Commissions are paid.
Risk-free demo accounts are offered to all customers without any restrictions.
Deposit and Withdrawal Options
The following payment options are available:
Debit Cards: Maestro, Mastercard, and Visa Card. Local cards accepted are Dankort, CartaSi, PostePay. Deposits are instant while withdrawals take up to 3 days.
Bank Wire: It is normally processed within 2-4 working days.
Local bank transfers are available in 11 countries. It is processed within the same day. No commissions are charged.
Online payments accepted are PayCo, Skrill, Neteller, WeChat, Alipay, ePay.bg, eps, GiroPay, iDeal, POLi, Nordea SOLO, Przelewy24, SOFORT, Trustly. All deposits are processed within 24 hours while withdrawals take up to 48 hours.
Bitcoin and Litecoin can also be used for payments. Deposits are processed within 3 hours and there are no charges. Withdrawals may take up to 2 days.
Web, desktop and mobile trading platforms
These trading platforms require no downloads or installations. One major advantage of these platforms is that they run on all operating systems. InstaForex has 2 Web terminal platforms:
- Instability: This platform is developed by Instaforex for binary options trading.
- Webifx: This is InstaForex’s WebTrader for trading forex and CFDs.
This is a very popular platform known for its variety of features which include analytical tools, order management tools as well as auto trading support. It can be downloaded on Windows PC.
This platform is supposed to be an upgrade to the existing MT4. But, many traders choose to remain with the MT4. The MT5 has all the features of the MT4 and even more. It is also downloadable on a windows computer.
This platform is for multiple account managers. It enables the management of multiple accounts from a single account.
- MT4 and MT5 mobile apps:
The mobile applications of the MT4 and the MT5 are downloadable for iOS and Android devices. They are available on iOS and android.
- InstaForex Mobile Trader:
This is a mobile trading app developed by InstaForex as android and iOS apps. The app has a lot of features including live quotes, all order types, technical analysis tools, news, and analytics, etc.
Research and Trading Tools
Every weekday, InstaForex provides forex analysis, market news, and analytical reviews. The broker’s team of analysts handles the reviews and analytics. Traders’ calculator, economic calendar and VPS are provided for all clients. The VPS is free only for clients that maintain a balance of $5,000.
InstaForex has a social trading service known as “ForexCopy”. It enables traders to copy the signals and strategies of expert traders at a fee.
InstaForex PAMM enables traders to invest their funds into the system while other expert traders will trade on their behalf.
www.forum.instantforex.com is the broker’s forum where traders interact, exchange ideas and assist each other.
Customer care service is available 24/7 in over 10 languages. You can request a call back by filling the feedback form on the website. You can also reach support by chatting via web instant chat, Viber, Skype, Telegram and WhatsApp. Email and phone calls are also available for support. The social media handles are twitter, facebook, and YouTube.
The InstaForex training course is designed for beginners. It is made up of 16 lectures. The course can be downloaded by only InstaForex account holders that have a minimum account balance of $100. There are free training articles and training videos on the website. These learning resources are best for beginner traders.
Bonuses, Promotions, and Contests
The following bonuses are available:
- First deposit bonus of 100%.
- 55% bonus on every deposit.
- 30% bonus on every deposit.
- InstaForex Club bonus is 40% for each deposit.
- Chancy Deposit: Deposit $3,000 to participate in the monthly raffle draw to win $4,000 or more.
InstaForex has 9 sports athletes as brand ambassadors including Daria Kasatkina, Ilona Korstin, Viswanathan Anand, etc. There are numerous trading contests on Instaforex.
Some of them are:
- Hyundai Sonata for Nigeria: Only for Nigerian clients. $500 deposit is required.
- Win Lamborghini from InstaForex: The draw will be held on 20 December 2019. Clients can compete to win this car by topping their accounts with $1,000.
- Trade Wise, Win Device: Deposit $500 and you may win a smartphone in the fortnightly draws.
- InstaForex Sniper: This is a weekly contest where the winner wins $500.
- Great Race: A demo account contest with $6,000 real price money.
- Real Scalping: Monthly demo account contest with a prize pool of $6,000.
- Miss Insta Asia Online Beauty Contest: The winner gets a prize of $20,000.
InstaForex is a global broker with a clear focus on customer satisfaction and appreciation. The broker has localized its services in various countries and speaks several languages. The platforms provided are standard. Its numerous bonuses, contests, and promotions keep traders busy by competing for the prize rewards even on demo accounts. Many clients have already won exotic cars, cash rewards, and gadgets through InstaForex.
Compared to other brokers, InstaForex’s regulation is substandard, the training resources are inadequate and the spreads are high. Yet, the broker is trusted by over 7million traders and has over 40 excellence awards.
|Broker Type||Market Maker|
|Base Currency||USD, EUR, RUB|
|Website Language||Arabic, Azerbaijani, Bulgarian, Chinese, Czech, Dutch, English, Georgian, German, Indonesian, Italian, Japanese, Latvian/Lettish, Lithuanian, Malay, Polish, Portuguese, Russian, Slovak, Spanish, Turkish, Ukrainian, Urdu, Vietnamese|
|Minimum Deposit||1 USD|
|Islamic Account (Swap Free)|
|Deposit Methods||Credit Card, Liberty Reserve, PerfectMoney, QIWI, RBK money, Webmoney, Wire Transfer, Yandex.Money|
|Withdrawal Methods||Credit Card, Liberty Reserve, PerfectMoney, QIWI, RBK money, Webmoney, Wire Transfer, Yandex.Money|
|Trading Platforms||Webtrader, MetaTrader 4, MetaTrader 5|
|Commission on Trades|
|No Deposit Bonus|
|Support During Weekends|
|Support Language||Arabic, Azerbaijani, Chinese, Farsi, French, Georgian, German, Hindi, Indonesian, Japanese, Latvian, Lithuanian, Malaysian, Polish, Portuguese, Romanian, Russian, Spanish, Thai, Turkish|
|Address||4A Pobedy Square, Kaliningrad Passage business center, office 610, Kaliningrad, 236022|