Instaforex Review 2022 - Verified Customer Reviews

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3.9
User Rating
3.5
(28)
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Instaforex Review

Updated May 02, 2022
3.9
Score breakdown
Pricing: 3
Regulation: 5
Popularity: 4
User Rating: 3.5 (28)

Instaforex overall score rank: 10 out of 53

Instaforex broker review

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83.47% of retail investor accounts lose money when trading CFDs with this provider.. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

KEY TAKEAWAYS

  • Cents accounts available (not in the EU)
  • Accepts deposits in LTC and BTC (not in the EU)
  • Regulated in the EU
  • Low minimum deposit

Regulations and Money Protection

5.0  


Entity Name Licence & Regulation Client Money Protection Deposit Compensation Scheme Negative Balance Protection
Instant Trading Ltd (BVI) British Virgin Islands FSC Licence ✔️
segregated client money
Instant Trading EU Ltd Cyprus CySEC Licence ✔️
up to €20,000
✔️

Entity/Regulation

As for the regulation, except for the licence issued by the CySEC, Instant Trading EU Ltd. is also supervised by the Czech National Bank (CNB), the Slovak National Bank (SNB), and the Polish Financial Supervision Authority (KNF). Consequently, InstaForex has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages.

  • International customers: Instant Trading Ltd (trading as Instaforex) will be the counterparty for International customers. This entity, with registered address at 30 De Castro Street. P.O. Box 4519, Road Town, Tortola VG1110, British Virgin Islands, is registered in the British Virgin Islands with registration number 1811672 and regulated by the BVI Financial Services Commission (FSC) with licence number SIBA/L/14/1082.

  • European customers: Instant Trading EU Ltd, with address at 23A, Spetson, Leda Court, Block B, Office B203, Mesa Geitonia, CY- 4000 Limassol, is registered as a Cypriot Investment Firm (CIF) under number 266937 and is regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence number 266/15.

Client Money Protection

  • Instaforex complies with the highest safety standards for client's funds. For this reason, Instaforex client's funds are kept in top-tier international banks, fully segregated from the company's funds.

  • Instaforex also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. Instaforex holds client's money separately to the company funds and does not use these funds for any operational expenses or purposes.

Deposit Compensation Scheme

Instant Trading EU Ltd is a member of the Investor Compensation Fund (ICF), an investor compensation fund for CIF clients and its functions are regulated by the directive DI87-07 of the CySEC. If Instant Trading EU Ltd is unable to meet its obligations, clients might be entitled to compensation (up to the value of €20,000) per claim, irrespective of the number of accounts held, currency and place of offering of the investment service (within Europe).

Negative Balance Protection

  • For accounts opened via Instant Trading Ltd (BVI), there is no Negative Balance Protection mechanism in place, for the sake of no negative balance. Without NBP, Instant Trading Ltd (BVI) customers are not protected from any losses bigger than their original investments, in cases of extreme market volatility.

  • For customers of Instant Trading EU Ltd, there is a default Negative Balance Protection mechanism in place, protecting traders from any losses bigger than their original investments, in compliance with the ESMA regulations.

Accounts, Instruments and Platforms

Accounts Instruments Platforms Social trading Maximum Leverage
Europe
✔️Insta.Standard
✔️Insta.Eurica
✔️ECN
✔️ECN Pro
✔️Scalping

International
✔️Insta.Standard
✔️Insta.Eurica
✔️Cent.Standard
✔️Cent.Eurica

✔️PAMM
✔️Islamic Accounts
✔️Forex
✔️Indices
✔️Stocks
✔️Futures
❌ETFs
❌Bonds
✔️Commodities
✔️Cryptos
✔️MT 4
✔️MT 5 (n/a in the  EU)
❌cTrader
✔️InstaTick Trader (n/a in the EU)
❌Myfxbook
❌ZuluTrade
✔️Instaforex ForexCopy
30:1 Europe (500:1 for Professional clients)

1000:1 Rest of World

Account types and currencies

It's worth noting that InstaForex has 3 account types for MT4 and 3 account types for MT5. A wide choice of account types is a clear advantage as any trader can find the conditions that suit them best. A detailed description of each account type is presented on the broker’s website, and here we provide a short overview:

  • ECN accounts are available for both MT4 and MT5. These accounts are of three levels: ECN, ECN PRO, and ECN VIP. They differ from each other by the deposit requirements and commission values. So, professionals who are used to trading big volumes are likely to find PRO and VIP accounts more convenient. All ECN accounts offer Market execution and raw floating spreads. It is worth mentioning that MT4 accounts have approximately 220 trading instruments and lower deposit requirements while MT5 accounts have more than 2,500 instruments.

  • Instaforex allows for social trading, including copy trading, via the Instaforex ForexCopy account.

  • Instaforex also offers PAMM accounts alternatives for money managers.

  • Instaforex maximum leverage is 30:1 for accounts opened within Europe and up to 1000:1 for accounts opened in other countries around the world.

  • Currently, Instaforex trading accounts are only available in CZK, EUR, USD, PLN, GBP.

Financial instruments

Trading with Instaforex can be done via the Metatrader 4 and Metatrader 5 (not for EU clients), available on web, desktop terminal and mobile versions. Instaforex international customers can also trade via Instaforex proprietary platform, the InstaTick Trader (available only on web version).

InstaForex, employing the ECN technology, provides access to a wide range of assets including CFDs on stocks, commodities, indices, cryptocurrencies, ETFs, and forex. In total, the number of available trading instruments amounts to more than 2,500.

  • FX market - 110+ currency pairs (including Minor and Exotic crosses).

  • Indices - 15 world indices, including the S&P 500, FTSE 100 and Nikkei 225.

  • Stocks - up to 89 stocks from globally renown companies and banks such as Apple Inc. Bank of America, Ford Inc and more.

  • Commodities - 6 commodities CFDs available for trading; 4 metals (including Gold and Silver) and 2 energies (UK Oil and US Oil). Instaforex international also offer 53 commodities futures contracts for trading (not for EU customers).

  • Cryptocurrencies - 11 CFDs crosses for trading, including BTC/USD, ETH/USD and LTC/USD.

Pricing

3.0  


Pricing/
Account
Insta.Standard Insta.Eurica Cent.Standard Cent.Eurica
Spread EUR/USD from 2.0 pip (EU)
from 3.0 pip (Intl)
from 0.0 pip  from 2.0 pip (EU)
from 3.0 pip (Intl)
from 0.0 pip
Commissions (1 lot) from 0.02% (EU)
from 0.03%-0.07% (Intl)
from 0.02% (EU)
from 0.03%-0.07% (Intl)
Minimum Deposit from 1 USD from 1 USD from 1 USD from 1 USD

Spreads

Instaforex trading spreads are not the most competitive in the market, especially for the entry-level account (.Standard). For the most traded pair, the EUR/USD, the spread starts at 3.0 pip. We consider the spread cost of Instaforex to be extremely high and quite above average, when compared with similar accounts form other top brokers.

Things gets slightly worst for the traders opening an account with Instaforex International; they are dealt with an uncompetitive pricing. The average spread for the EUR/USD with an Insta.Standard and Cent.Standard accounts is 3.0 pip. For the Insta.Eurica and Cent.Eurica accounts the EUR/USD spread starts at 0.0 pip, but subject to a higher commission percentage (0.03%-0.07%) when compared with the commission traders with accounts opened in Europe pay.

Rollover Rates

Instaforex swap rates, as of 20-10-2020 for the EUR/USD stand at -6.30 for holding overnight a 1 lot long contract and at -1.50 for holding overnight a 1 lot short contract. Instaforex rollover rates are higher, when compared with other brokers.

Deposits/Withdrawals and Other Fees

  • Deposit fees - Trading accounts can be opened in only 3 different currencies and maintained via more than 15 different funding methods, including local bank wires, cards, a great range of e-payments, including Skrill and Neteller and cryptocurrencies, including BTC, LTC and USDT. Deposits are available almost instantly. Instaforex does not charge fees for deposits.

  • Withdrawals fees - For withdrawals, processed within 1 business day, Instaforex applies a reduced fee structure. For more information, please visit the Instaforex International deposit and withdrawals dedicated page and the Instaforex (Europe) deposit and withdrawals page for EU customers.

  • Inactivity fee - Instaforex does charge a maintenance fee of $10/month for accounts deemed dormant after a period of 12 months without any trading activity.

Popularity

4.0  


Forex Education Deposit Options Deposit/Withdrawals Fees Non expiring demo account Customer Support
Forex Articles
Webinars
Video Analytics
Fundamental & Technical Analysis
InstaForex TV
Cards
Bank Wire
E-payments
Cryptocurrencies
✔️ ✔️ Multi language
24/5 Support
Live Chat

With over 500,000 of accounts opened in more 10 years of business and operating in more than 100 countries (according to their corporate website), Instaforex seem to have their fair market share and with massive advertising campaigns, from sponsoring top athletes and racing teams all over the world and with several ongoing promotions, this broker continues to capture the attention of more and more traders.

Also, on the positive side, the company offers several educational materials and the resources needed to improve client's trading experience and results. Instaforex believes in educating traders, by giving away the resources needed to improve client's trading experience and results, all available directly from their website.

  • Trading platforms - A wide choice of trading tools is yet another clear benefit of this broker. First off, clients of InstaForex can use the tried-and-true MetaTrader 4 platform that provides access to various markets. This platform became a hot favourite for its reliability and user-friendly interface. MT4 features 9-time frames, 5 order types, in-built technical indicators, and other useful tools.

    The MetaTrader 5 platform opens up wider possibilities for the clients, as it has a more extensive functional kit compared to MT4 including 21-time frames, 38 built-in indicators, and 7 types of hourly charts. Besides, it doesn’t have technical restrictions on the number of available trading instruments thus the only limit is a broker’s capacity. Clients of InstaForex can access financial markets through their mobile devices with the help of MT4 and MT5 mobile apps. Trading is also possible through a web browser via the WebTrader platform.

  • Trading accounts - The Instaforex Insta.Eurica account is a popular choice with traders looking to save on trading costs, with a lower spread and a commission from 0.02% per lot traded (from 0.03%-0.07% for International customers).

  • Forex education - Well-timed financial news and market analysis are crucial when it comes to making trading decisions. Admittedly, InstaForex pays great attention to this aspect. It has a team of over 30 currency analysts who provide comprehensive market analysis daily. Economic news along with the economic calendar is published regularly. The broker’s website has a TV section that deals with economic news, market reviews, economic calendars, and video analytics.

    Those who are making their first steps in trading can watch video tutorials and download a training course. Also, they can challenge their trading skills on demo accounts that are provided for free and with no restrictions.

    Another key feature that can be useful to both beginners and experienced traders is free online webinars. Every client is welcome to register for a webinar and learn the basics of the technical analysis presented by analytical experts.

Funding Methods Bank Wire, Bitcoin, CashU, China Union Pay, EgoPay, Filspay, Neteller, PayCo, Paxum, Skrill (Moneybookers), Ukash, Webmoney
Support Languages Arabic, Bulgarian, Chinese, Czech, English, French, German, Indonesian, Italian, Polish, Portuguese, Romanian, Russian, Spanish, Thai, Vietnamese

  • Minimum deposit - Opening a trading account with Instaforex it's easy and can be done via the website. The minimum deposit requirement to open any Instaforex trading account is 1 USD (or equivalent). Traders interested in becoming strategy managers can easily discover and sign-up to Instaforex's PAMM accounts or sign-up for ForexCopy, Instaforex's own social trading gateway.

  • Customer support - Instaforex multi language customer support service is available 24 hours, 5 days a week, in 16 languages. Instaforex support is available via phone call, callback, email, contact form and also live chat, available directly from their website.

  • Client-oriented approach - It is necessary and fundamental that there are communication channels between a broker and its clients. InstaForex has taken note of it to provide flawless communication channels. The website instaforex.eu is available in English, Italian, Bulgarian, Spanish, German, French, Czech, Portuguese, Hungarian, Greek, Slovenian, Dutch, Polish, Romanian, and Russian.

    The customer support can be accessed through Skype, Viber, Whatsapp, Telegram, and Facebook messengers. Besides, clients can ask their questions by email, phone, or live chat. The strong presence in social media makes it easy to contact InstaForex managers whenever you need them.

    To make communication even easier, InstaForex has created a dedicated support portal where clients can get answers to their questions and read useful information about financial markets. As already mentioned, InstaForex has branches in the Czech Republic, Slovakia, and Poland where clients get support in local languages and make deposits in local currencies, thus reducing the conversion costs.

Broker Profile

Serving clients since 2007 as an international broker and since 2015 as an EU-regulated broker, InstaForex has established a firm position in the trading industry. Instaforex has been rendering quality online trading services in the Forex market since 2007. In as little as six years the company endeavoured to attain great results. With already more than 500,000 individual and corporate customers, every day over 400 new traders open accounts with Instaforex to invest in the financial markets.

Their comprehensive range of trading options, instant technical support and consulting services are available to all their customers. Rendering full-range services and provides customer stewardship at every step continues to remain as their priority, right from the point of new account registration to money withdrawal. Instaforex staff members are experienced professionals and aim to provide transparency, competence and personal approach for all their clients.

Instaforex Group has managed to firmly establish itself, reaching the top place in the industry and introducing innovative IT-solutions. The broker adheres to the highest levels of quality, working in accordance with the international laws and local standards of particular countries. Thanks to that, Instaforex has a reputation of a reliable partner which provides its clients with safe trading environment.

Instaforex offers its clients more than 200 instruments for trading. Apart from currency pairs, there are futures, shares and spot instruments such as Gold, Silver as well as CFDs on indices such as the S&P 500, Dow Jones Industrial Average, NASDAQ Composite, FTSE 100, Euronext 100, DAX 30, Nikkei 225, Hang Seng Index, US Dollar Index and other instruments.

For international clients, Instant Trading Ltd (BVI) is licenced by the BVI FSC, with licence number SIBA/L/14/1082. Services are provided to international customers under the Instaforex brand which is a registered trademark. In Europe, Instaforex (Instant Trading EU Ltd) is regulated by the Cyprus Securities and Exchange Commission (CySEC), licence number 266/15. A licence of this level is a guarantee of trades' security and transparency for all Instaforex clients, since it implies that the broker participates in Investor Compensation Fund, ensuring the negative balance protection and the best execution policy.

InstaForex actively supports sports teams and athletes, thus demonstrating its business philosophy. It explains that determination to win, endurance, and self-confidence are the common characteristics of sport and trading.

The broker’s current partners are FC Borussia Dortmund, RC Legia Warsaw, Loprais Dakar Rally team, Dragon Racing Formula E,  HKM Zvolen, Muay Thai Fighter Vladimir Moravcik, swimmer Yulia Efimova, chess champion Viswanathan Anand and others. Some of the former partners are Liverpool FC, Palermo FC, Norwegian biathlon legend Ole Einar Bjørndalen, Marussia Team Formula 1, chess champion Magnus Carlsen and others.

Undoubtedly, InstaForex can be considered one of the leading ECN brokers offering trading solutions that can meet the demands of any trader. InstaForex is fully compliant with the applied regulations and transparent about its services. 


Overall, on our Instaforex review, the broker scores 3.9 out of 5, mainly because the broker fails to offer adequate protection to it's customers (except clients in Europe) with more and better regulations and client's money safety mechanisms in place. Also, Instaforex pricing model is above other broker's average (expect for the Insta.Eurica accounts). On the plus side, the attractive promotions and the great offering of Forex educational materials could be a great resource for beginners traders, helping them improving their Forex knowledge and trading experience.


Data supplied in partnership with CashBackForex - Forex Rebates places Instaforex on the top 20 brokers for popularity with traders opening an account in 2020.


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Instaforex User reviews

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3.5
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Instaforex user rating score rank: 12 out of 53

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Instaforex Products

Forex
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Cryptocurrencies
Bitcoin