InstaForex Review |
|
| 📅 Year founded |
2007 |
| 📈 Multiple top-tier regulation |
Yes |
| 📍 Headquarters |
Tortola, British Virgin Islands |
| 🌍 Country of regulation |
Saint Vincent and the Grenadines / British Virgin Islands |
| ✅ Regulators |
FSC / BVI FSC |
| 📈 Execution Type |
Market Execution |
| 💰 Minimum Deposit |
$1 USD |
| 🛡️ Negative Balance Protection |
Yes |
| 📉 Trading Platforms |
MetaTrader4 / MetaTrader5 |
| ☪ Islamic account |
Yes |
| 📉 Trading Instruments |
Forex / Indices / Commodities / Shares / Futures / Cryptocurrencies |
| 📱 Mobile trading |
iOS / Android / Windows |
| 💳 Payment Types Accepted |
Debit and Credit Card / Bank Wire Transfer / Skrill / Neteller / PayCo / AstroPay / Cryptocurrencies |
| 🎮 Demo Account |
Yes |
| ⓒ Copy Trading |
Yes |
| 🎁 Bonus Offer |
100% Bonus / Start Up Bonus 1000 / 30% Bonus |
| 💰 Account Currencies |
USD / EUR |
| 📈 Minimum Trade |
0.01 Lots |
| 📈 Account Types |
ECN / STP / PAMM |
| 📈 Margin Trading |
Yes |
| 📈 Trading fees |
Low |
| 📈 Inactivity fee |
$10 USD monthly |
| 💰 Withdrawal fee |
None |
| ☎ Customer Support |
24/7 |
| 💰 Max. Leverage |
1 000:1 |
| ✔️ Hedging Allowed |
Yes |
| ✔️ Scalping Allowed |
Yes |
| 💰 Commission |
Zero on Insta.Standard and Cent.Standard / 0.03-0.07% on Insta.Eurica and Cent.Eurica |
| 💰 Spreads |
From 0.0 pips |
| 💰 Leverage |
Flexible |
| 💰 Currency Pairs (Total Forex pairs) |
107 + |
| 🔢 Number of clients |
7 000 000 + |
| 🥇 Instruments Offered |
400 + |
| 📙 Education |
Knowledge Base |
WHAT IS INSTAFOREX?
InstaForex is an established online forex broker that has been providing a broad spectrum of trading services since 2007.
The broker caters to over 7 000 000 clients globally, emphasising its expansive reach and robust trading infrastructure.
InstaForex operates under the regulatory oversight of the Financial Services Commission (FSC) in Saint Vincent and the Grenadines and the British Virgin Islands Financial Services Commission (BVI FSC), which adds a layer of credibility and security for its traders.
Regulation by these bodies ensures that InstaForex adheres to certain operational standards and financial compliance, though it’s worth noting that these jurisdictions are generally considered to be less stringent than U.S. or E.U. regulatory bodies. Despite this, InstaForex maintains a commitment to providing secure trading conditions and upholding international best practices in financial trading.
The broker is known for its diverse portfolio of trading instruments, accessible via popular trading platforms like MetaTrader4 and MetaTrader5. This broad selection enables both novice and experienced traders to find opportunities in both traditional and emerging markets.
The combination of strategic regulatory alignment and a wide range of trading tools makes InstaForex a compelling choice for traders looking for flexibility and reliability in their trading operations.
INTRODUCTION
Founded in 2007 and based in Tortola, British Virgin Islands, InstaForex has grown into a prominent figure in the global forex trading landscape.
As a broker, InstaForex has focused on providing an expansive array of trading tools and resources to cater to a diverse clientele, which now exceeds 7 000 000 users across various countries.
From its strategic location in the British Virgin Islands, a notable hub for financial services, InstaForex benefits from the region’s stable economic environment and favourable regulatory framework. This positioning also allows the broker to offer competitive services while adhering to international standards, which are crucial for attracting traders from around the world.
InstaForex distinguishes itself through a commitment to innovative trading technology and customer-focused services. The broker’s early adoption of advanced trading platforms like MetaTrader4 and MetaTrader5 has set a high standard for its operations, ensuring traders have access to powerful tools that enhance their trading efficacy.
PROS & CONS
PROS
- Wide range of trading instruments.
- Access to both MetaTrader platforms.
- Competitive spreads and leverage options.
- Extensive educational and research tools.
- Low minimum deposit requirements of only $1 USD.
CONS
- Not regulated in major financial markets like the U.S. or E.U.
- The Standard accounts have a fairly high spread of between 3-7 pips.
TRADING INSTRUMENTS
InstaForex provides an extensive range of trading instruments, catering to various interests and strategies of traders worldwide. This diverse offering ensures that traders can participate in different markets using a single platform.
Forex
InstaForex offers a robust selection of over 100 currency pairs, allowing traders to speculate on major, minor and exotic currencies. This includes popular pairs like EUR / USD and GBP / USD, as well as less commonly traded pairs, offering opportunities for both mainstream and niche market trading.
Indices
For those interested in stock indices, InstaForex provides the ability to trade on global indices such as the Dow Jones, NASDAQ, Nikkei and FTSE amongst others. Trading indices allows traders to gain exposure to entire sectors of the economy without having to select individual stocks.
Commodities
The broker offers trading in a variety of commodities including precious metals like gold and silver, energy commodities such as oil and natural gas and agricultural products like coffee and sugar.
Commodities trading is particularly attractive during periods of inflation or economic uncertainty, as these assets often serve as a hedge against risk.
Shares
InstaForex also caters to those interested in stock trading with access to shares from leading global companies. This allows traders to buy and sell shares of major corporations like Apple, Google and Amazon, tapping into stock price movements and market trends.
Futures
For those looking to trade on futures contracts, InstaForex offers options in commodities, indices and other instruments. Futures trading is a great way to speculate on the future price movements of these assets and is commonly used for hedging and managing risk.
Cryptocurrencies
Recognising the growing interest in digital currencies, InstaForex provides the ability to trade popular cryptocurrencies such as Bitcoin, Ethereum and Litecoin. Cryptocurrency trading at InstaForex is an exciting option for traders looking to capitalise on the volatility and growth potential of this emerging market.
By offering such a broad spectrum of trading instruments, InstaForex ensures that traders of all types have ample opportunities to diversify their portfolios, manage risk and exploit the potential for profit in various financial markets.
This comprehensive selection is particularly beneficial in a fluctuating economic landscape, providing traders with multiple avenues to adapt their strategies as market conditions change.
TRADING PLATFORMS
InstaForex provides access to two of the most popular and widely used trading platforms in the industry: MetaTrader4 (MT4) and MetaTrader5 (MT5).
These platforms are renowned for their robust functionality, user-friendly interfaces and advanced trading features, making them suitable for both novice and experienced traders.
MetaTrader4 (MT4)
MT4 has long been the standard in forex trading, admired for its simplicity and effectiveness. It offers a comprehensive set of trading tools including over 50 technical indicators, customisable charts and a suite of drawing tools.
Traders can execute orders, analyse price dynamics and employ automated trading strategies via Expert Advisors (EAs). MT4’s user-friendly interface, combined with its powerful charting and analysis tools, makes it an ideal choice for traders focusing on forex and CFDs.
MetaTrader5 (MT5)
As the successor to MT4, MT5 provides enhanced features including more technical indicators, graphical objects, timeframes and advanced order types. It also supports trading stocks, which is a significant addition for traders looking to diversify their portfolios beyond forex and commodities.
MT5’s multi-threaded strategy tester allows for faster back-testing of trading strategies and its economic calendar is integrated directly into the platform, providing traders with up-to-the-minute financial news and macroeconomic events.
Both platforms are available on desktop for Windows and Mac users and also on mobile devices through apps for iOS and Android, ensuring traders can monitor markets and execute trades from anywhere at any time. The mobile versions of MT4 and MT5 allow traders to manage their accounts, view trading histories and analyse markets through interactive charts and technical indicators.
Furthermore, InstaForex has enhanced these platforms with additional services such as free VPS hosting, which benefits traders using automated trading strategies that require 24/7 operation. This is particularly useful for running EAs uninterrupted, thereby maximising the effectiveness of algorithmic trading.
InstaForex’s provision of MT4 and MT5 allows traders to leverage two of the most advanced and flexible trading platforms in the market. Whether a trader is focused on forex, stocks or a variety of instruments, these platforms equipped with powerful tools and extensions, ensure that InstaForex clients have a technological edge in managing their trading activities effectively.
ACCOUNT TYPES
InstaForex offers a variety of account types to accommodate the diverse needs of traders, ranging from beginners to experienced professionals. Each account type is tailored to different trading strategies and preferences.
Insta.Standard Account
This account type is designed for traditional forex traders who prefer a standard trading environment. It features a variable spread of between 3-7 pips and no commissions, making it suitable for traders who prefer to know their trading costs upfront.
The Insta.Standard account allows for flexibility in trading with a minimal deposit requirement of only $1 USD and is available on both MT4 and MT5 platforms. Traders can access leverage of up to 1 000:1 on this account type.
Insta.Eurica Account
The Insta.Eurica account type is particularly suited for novice traders as it does not have spreads on trades (raw spreads from 0.0 pips). Instead, traders pay a fixed commission of 0.03-0.07% of the trade.
This setup simplifies the trading process for all traders by eliminating the need to consider the spread in trade execution, making it easier to manage trades. This account is also beneficial for strategies that involve frequent short-term trading (scalping) because the absence of spreads allows for better control over costs.
Cent.Standard Account
This account is similar to the Insta.Standard account but is denominated in cents, allowing traders to trade with much smaller lot sizes. The Cent.Standard account is ideal for those new to trading or with limited capital, as it reduces the risk associated with trading while still providing access to the forex and CFD markets.
This is an excellent choice for experimenting with strategies and practicing trading without committing a significant amount of money.
Cent.Eurica Account
Like the Cent.Standard, the Cent.Eurica account is denominated in cents and offers trading without spreads, with traders instead paying a fixed commission of 0.03-0.07% per trade. This account type is designed for beginner traders who want to learn the dynamics of the market without spreads affecting their trades.
Each of these account types is designed to meet specific trader needs, whether it’s low-risk involvement, simplicity in execution or flexibility in trading conditions. InstaForex also provides the option to switch between account types if a trader’s needs or strategies change, offering a high degree of flexibility and customisation.
Additionally, all accounts come with access to InstaForex’s full suite of educational resources, research tools and customer support, ensuring that traders of all levels are well-equipped to make informed trading decisions.
Whether a trader is looking to engage with forex, indices, commodities or cryptocurrencies, InstaForex provides tailored account solutions to help achieve their trading objectives efficiently.
HOW TO OPEN AN ACCOUNT
Opening an account with InstaForex is straightforward and can be done via the broker’s website. Traders are required to register with their personal information, before uploading the required documents.
Once the uploaded documents have been verified, traders can select their account type, deposit funds and begin trading.
DEMO ACCOUNT
InstaForex provides a demo account that simulates trading conditions with virtual funds, allowing new traders to practice without financial risk. The addition of a demo account is also helpful for more experienced traders looking to back test new strategies before implementing those on their live accounts.
SOCIAL TRADING AND COPY TRADING
The broker offers options for social and copy trading, enabling less experienced traders to mirror the trades of seasoned professionals. Through the provision of the broker’s ForexCopy system, traders can select a professional trader to follow and implement their trades on the trader’s own account.
This is easily done on through tools such as EAs on the MT4 and MT5 platforms.
COMMISSIONS AND FEES
InstaForex charges variable spreads and commissions depending on the account type. On the Insta.Eurica and the Cent.Eurica accounts, commissions are charged at 0.03-0.07% per trade while the Insta.Standard and Cent.Standard accounts do not charge any commissions on trades.
Additionally, the broker charges an inactivity fee of $10 USD per month, while there are also swap-free accounts available to traders who are required to adhere to Sharia law.
LEVERAGE
Leverage at InstaForex can go as high as 1 000:1, providing traders the potential to generate significant profits on small investments, albeit with increased risk. Leverage is flexible with the broker and can easily be adjusted on the account settings once an account has been created.
WITHDRAWALS AND DEPOSITS
Deposits and withdrawals are facilitated through various methods including bank transfers, credit cards, various eWallets like Skrill and Neteller, as well as cryptocurrencies.
InstaForex is known for its quick processing times and do not charge any fees on withdrawals or deposits, although fees may be charged by third-party financial service providers depending on the transactions methods used.
CUSTOMER SERVICE
InstaForex offers 24/7 customer support via live chat, email and phone. While service quality is generally high, there have been occasional delays during peak times.
The broker’s customer support team is capable of fielding in queries in a variety of different languages and has been highly commended by the broker’s clients.
SAFETY AND SECURITY
Safety and security are paramount in the world of online trading and InstaForex takes these aspects seriously by adhering to regulations set forth by reputable financial authorities.
InstaForex is regulated by the Financial Services Commission (FSC) in Saint Vincent and the Grenadines and the British Virgin Islands Financial Services Commission (BVI FSC).
These regulatory bodies play a crucial role in ensuring that the operations of InstaForex meet specific standards for financial stability and fair trading practices.
FSC Saint Vincent and the Grenadines
As a regulator, the FSC of Saint Vincent and the Grenadines provides oversight in a popular jurisdiction for forex brokers. This body ensures that registered entities comply with local financial regulations which include requirements for operational competence and financial compliance.
However, it’s important to note that the regulatory environment in Saint Vincent and the Grenadines is considered less stringent compared to major financial centres like the U.S. or the EU.
BVI FSC
The British Virgin Islands Financial Services Commission is known for its more robust regulatory framework. The BVI FSC oversees the activities of financial institutions to ensure they adhere to international best practices and local laws designed to protect investors.
Regulation by the BVI FSC involves ensuring the transparency of broker operations, the adequacy of financial reserves and the integrity of the data protection measures that safeguard client information.
InstaForex employs several security measures to protect client funds and personal information including segragtion of client funds, SSL encryption, a stringent verification process and two-factor authentication on accounts.
Furthermore, InstaForex provides traders with various tools and options to manage trading risks effectively such as stop-loss orders, limit orders and margin calls. These tools are crucial for managing the inherent risks of trading and protecting against significant losses.
While InstaForex is regulated by the FSC in Saint Vincent and the Grenadines and the BVI FSC, it is important for potential clients to understand the different levels of regulatory oversight. The security measures InstaForex employs are designed to protect client interests and ensure a secure trading environment.
However, traders should always consider their own risk tolerance and the adequacy of regulatory protection when choosing a broker.
PROMOTIONS
InstaForex frequently offers various promotions and bonuses, such as deposit bonuses and trading contests, which can enhance trading experiences and opportunities. Currently the broker offers promotions such as its 100% Bonus, Welcome Bonus 1000 and its 30% Bonus.
The criteria for qualifying for these bonuses are easily available on the broker’s website and can be subject to regular change.
RESEARCH
The broker provides comprehensive market research tools including analytics by their chief strategist, analytical reviews, an economic calendar, video analytics, InstaForexTV and live trading sessions. This comprehensive suite of research tools is one of the very best in the industry.
EDUCATION
InstaForex is committed to trader education, offering an extensive range of resources from basic tutorials to advanced trading strategies and webinars. The broker provides online training to new traders as well as online courses and an in-depth knowledge base amongst other tools.
This range of educational resources highlights the broker’s commitment to ensuring the success of their clients.
GLOBAL AWARDS
Over the years, InstaForex has received numerous awards acknowledging its technology, comprehensive services and customer support.
Some of their most recent awards include the following:
- Best Broker is Asia (2024) – Show Fx World.
- Best Forex Broker (2023) – Forex Traders Summit Dubai.
- Best Crypto Broker (2022) – Forexing.com.
- Best Customer Service Broker (2022) – AllForexBonus.com.
- Best Broker in Latin America (2022) – International Business Magazine.
- Best Affiliate Program (2022) – Global Brands Magazine.
- Best Forex Broker (2022) – International investor Awards.
These are just some of the broker’s most recent awards with over 12 awards being won in the past 5 years alone.
SAFE OR SCAM?
When evaluating whether InstaForex is a safe broker, it is essential to consider its regulatory status, industry reputation and the security measures it employs. InstaForex is regulated by the FSC in Saint Vincent and the Grenadines and the BVI FSC in the British Virgin Islands.
While these regulatory bodies are not as stringent as those in the U.S. or E.U, they do provide a level of oversight that offers traders some degree of protection.
InstaForex has been in operation since 2007 and has managed to build a significant global presence with over 7 000 000 clients. This long-standing operation and large client base are positive indicators of its reliability and service quality.
Additionally, the broker has received various industry awards over the years, which can be seen as endorsements of its credibility and professionalism.
As previously mentioned, InstaForex takes security seriously, employing measures such as SSL encryption, segregated client accounts and strict verification procedures to comply with AML and KYC regulations. These measures are designed to protect client funds and personal information, which is crucial for building trust with users.
While most feedback is positive, highlighting the broker’s wide range of instruments and platform accessibility, there are occasional complaints regarding customer service and withdrawal processes. These issues are not uncommon in the industry and InstaForex seems to address them actively, which is a good practice for maintaining trust and transparency.
Considering the regulatory oversight, security measures, positive client feedback and its established history in the financial services industry, InstaForex appears to be a legitimate broker. However, potential clients should always perform their due diligence and consider their own trading needs and risk tolerance levels before opening an account.
CONCLUSION
InstaForex is a well-rounded broker suitable for traders of all levels. Its comprehensive offerings combined with competitive trading conditions, make it an attractive choice, although traders should be mindful of its regulatory status.
After conducting the above review into this broker, the team at Brokersuggest.com can highly recommend InstaForex as a superb trading partner for both new and experienced traders.
