InstaForex is an online trading and transactions service with HQ in Cyprus. Founded in 2007, this brokerage corporation now serves over 7 million traders worldwide. The company focuses its endeavors to provide a range of different services to every customer, regardless of their level of expertise.
Trading conditions, software, and protection standards are rightfully considered to be among the best in the market. Our InstaForex review brings you a detailed presentation about this broker, its services, and how to use the potential for making a profit.
InstaForex Pros and Cons
Regulated by one top-tier regulator and two offshore ones (CySEC, FSC BVI, SVGFSA) makes trading at InstaForex well protected. However, this mainly refers to EEA customers, while international clientele isn’t as safe considering the offshore licenses.
However, the big customer base describes InstaForex as a responsible and reliable brokerage powerhouse with fast software and a wide range of instruments. With a minimum deposit of just $1, you can quickly open an account and become an InstaForex customer.
Types of trading available at InstaForex are Forex trading, Share Dealing, and Social trading. The trading costs are quite low, and the conditions are attractive, although they highly vary depending on the area. Non-EU traders are exposed to higher risk, considering the poor regulatory standards and the high leverage of up to 1:1000.
Otherwise InstaForex cares to provide their clients with quality user support and enables traders to communicate with staff 24/7.
|Regulation||CySEC, FSC BVI, SVGFSA|
|Platforms||MT4, MT5, Multitrader, Webtrader|
|Instruments||Forex, Commodities, Indices, Shares, Crypto, InstaFutures, Commodity Futures|
|EUR/USD Spread||3 pips|
|Base Currencies||EUR, USD|
Regulation and Security of InstaForex
Regulations that define InstaForex’s line of work and security standards are the following:
- The Cyprus Securities and Exchange Commission – CySEC of Cyprus
- British Virgin Islands Financial Services Commission – BVI FSC of BVI
- Financial Services Authority (SVGFSA) of St Vincent & The Grenadines
First off, the CySEC license is highly respected and one of top tier regulatory documents that EEA brokers can have. InstaForex first had to deposit at least 730.000 EUR to even be eligible to apply for a CySEC certificate.
Following that, the required security standards regarding deposits and transactions are in order. InstaForex had to provide segregated bank accounts to keep clients’ investments safe and separated from the company’s own capital.
Next in line is capping the leverage to 1:30 and introducing negative balance protection. Risk-reducing measures such as these protect customers from losing big and from losing more than they’ve initially invested.
In case the company fails to reimburse the client, the Financial Ombudsman and compensation scheme pay traders up to 20.000 EUR. ESMA, the independent EEA zone regulator, has contributed to customers’ safety by enforcing MiFID rules. These bind the brokers to transparency and transaction reporting, which InstaForex complies with.
What we’re concerned about are the international clients and all non-EU residents that would decide to invest with InstaForex without enough knowledge. Professional traders who are better at managing investment risks would probably find their way around the increased leverage and lower security standards. Novice traders are advised to be cautious.
InstaForex Account Types Available
In order to help customers start off successfully and build a working trading strategy, InstaForex dealer department specialists have developed several account types:
- Insta.Standard trading accounts – suitable for standard trading terms on Forex without fees. Since the trading costs are not commissioned, starting spreads vary from 3 pips to 7 pips. Standard accounts are universal, as traders can start trading with micro deposits of $1-$10 and choose their leverage.
- Insta.Eurica accounts – an account type that doesn’t require the spreads to be paid in advance. Instead, traders pay a commission of 0.03% – 0.07% per minimal trade which is 0.01 of the lot.
- Cent. Standard – is the Insta. Standard account adjusted for clients who just learn to trade, and therefore need access to the minimal possible trade volume of 0.0001 of the market lot (0.1 U.S. cents).
- Cent.Eurica – is the Insta.Eurica account modified for beginner traders, similarly to the previously described Cent. Standard accounts. The point is that the trading conditions for Cent accounts are the same as the first two account types, except for the minimal trading volume.
Trading Software Overview
Every trader at InstaForex is free to choose the platform that best suits with their trading needs and expectations. For that reason, there is several of the world’s most respected trading software available at InstaForex and this review explains their benefits and differences:
- MetaTrader 4
- MetaTrader 5
MetaTrader 4 is a powerful, reliable, and time-tested trading platform, just like its successful, MT5. This is a well-known fact. And while MT5 has proven to have a richer offer of features, some traders still prefer MT4 for its simplicity and flexibility.
Some key differences between these two platforms are the following:
- MT4 has a simpler interface while MT5 allows complex charting and has 21 timeframes, while MT4 only has 9
- MT5 supports more types of pending orders, as well as a bigger number of indicators and graphic charts. It also has a built-in tab with the economic calendar.
- MT5 has increased performance due to the 64-bit processor architecture support, but MT4 imposes fewer system requirements on a PC than MT5, so it takes less RAM.
The MultiTerminal provides users a chance to work on several trading accounts at the same time. This is a handy tool for traders who engage in account management. The MultiTerminal is downloadable software that runs on Windows OS but not on MAC.
Webtrader enables investors to trade directly in a web browser, without the need to download and install any software.
InstaForex Trading Instruments Offered
With varying leverage of up to 1:1000, and tight spreads starting from 0 pips depending on the account type, traders can invest in a wide range of trading instruments:
- Currencies (EUR/USD, SEK/JPY, EUR/GBP, NZD/USD, USD/HKD, SGD/JPY)
- Shares (UBS AG, Orange, AT&T, Autodesk Inc, Intel, IBM, eBay Inc)
- Indices (Dow Jones, Spain 35 Index, FTSE 100, Hang Seng Index)
- Metals (Gold, Palladium, Silver)
- Oils and gas (Natural gas, Heating oil, Harbor Gasoline, Crude Oil)
- Commodity Futures (Lumber, Futures Soybean Meal, Orange Juice, Futures Live Cattle)
- Cryptocurrencies (Doge, Litecoin, Bitcoin, Chainlink, Polkadot, Uniswap, Filecoin)
- InstaFutures (EURUSDmonth, EURUSDweek)
InstaForex Funding Process
The process of funding a trading account is quite easy and will not take much time, although there are brokers who perform transactions faster than InstaForex. Depositing ways are many so we’re only listing some in this review. For detailed information on allowed funding ways, please visit the official website. The most popular transferring methods are:
- Bank transfer – free of charge, but the bank may charge the conversion fee. The request is processed within 24/72 hours.
- Electronic wallets (Skrill, PayCo, and Neteller) – fastest with no fees
- Credit cards – no depositing fees follow, processed within 3 hours
- Crypto (Bitcoin, Tether, Ethereum, Litecoin) – instant, without fees
Withdrawals can only be performed if processed in the same currency as a deposit. Generally, only bank withdrawals could be followed by fees from the banks involved, but InstaForex covers all other fees. Allow up to 3 business days for the funds to arrive.
Education and Resources
InstaForex is one of the top providers of educational material for beginners. After opening an account and becoming a customer, you have the option to download the learning material which consists of articles and video tutorials for investors new to the Forex world. InstaForex Training Course for Beginners is an introduction to trading and its relevant elements.
The InstaForex Knowledge Base includes articles and video tutorials that traders of all levels of expertise and experience can access at any time if there’s something about Forex they wish to learn. From the basics and installation of the trading software to advanced trading techniques and analysis, InstaForex allows you to learn throughout your entire Forex journey.
Maintaining a quality relationship with the customer base heavily depends on the reliability and dedication of the support team.
The Support Section on the website contains the most frequently asked questions and possible solutions to them. It is recommended to first check there before contacting customer service. There’s a high possibility someone has already faced the same or similar problem so this could provide you with an instant solution.
In case you didn’t get your answer in the help section, there are several ways of getting in touch with the support team:
- Callback request – through an online form and by leaving your contact data along with the preferred time for the call you can arrange a called meeting.
- Email support – this is the most commonly used method for describing your issue and getting an email answer in due time.
- Live chat directly on the website is an option to message the support team, but you have to open an account with InstaForex first.
- The broker links their social network profiles to connect there and keep up with the new events, too.
InstaForex Overall Summary
Being awarded multiple times for being the best broker in Asia and for having a good trading platform seems like something so easy for InstaForex. This regulated and reliable brokerage is one of the most popular online trading services providers in Asia.
Looking on a global scale, InstaForex provides millions of customers with exceptional services. Judging by the reviews online, the clients are satisfied and highly recommend this broker to fellow traders.
What we’d only like to warn you about is the weak protection for non-EU clients. But from what we could learn from other traders and experts online, InstaForex diligently serves all their customers wherever they could be coming from.
FAQs About InstaForex Brokers
How Do I Open an InstaForex Account?
You can quickly open an account with InstaForex just by inputting your contact info and several personal details. After a quick verification and depositing, you can download the software and start trading.
How Long Does an InstaForex Withdrawal Take?
Withdrawal requests are processed in the first 24 hours since applying, although it may take up to 3 business days for the funds to be sent to you.
Does InstaForex Offer Demo Account?
In case you don’t feel ready to invest immediately from the start, you can try out a Demo account with virtual funds and practice.
What Is the Minimum Deposit at InstaForex?
The minimum amount to deposit with InstaForex is only $1.
Does InstaForex Have a Mobile Trading Application?
InstaForex does have a mobile application for trading on mobile devices.