Instaforex Review 2020 - Verified Customer Reviews

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3.9
User Rating
3.5
(23)
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Instaforex Review

Updated November 05, 2020
3.9
Score breakdown
Pricing: 3
Regulation: 5
Popularity: 4
User Rating: 3.5 (23)

Instaforex overall score rank: 10 out of 35

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

Entity/Regulation

  • 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

1000:1 Rest of World

Account types and currencies

  • Instaforex offers several trading account types, subject to jurisdiction. For international clients the offering starts with the Insta. and Cent.Standard, then an ECN model with the Insta. and Cent.Eurica. European clients have access to the same accounts plus three more ECN modelled accounts; ECN, ECN Pro and Scalping. Instaforex also offers swap-free accounts for traders of Islamic belief.

  • 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 EUR, RUB and USD.

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 offers a good selection of 225+ assets to trade, including Forex, indices, stocks, commodities (including futures) and cryptocurrencies.

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

Pricing

3.0  


Pricing/
Account
Insta/Cent.Standard Scalping/ECN ECN Pro Insta/Cent.Eurica
Spread EUR/USD from 2.0 pip (EU)
from 3.0 pip (Intl)
from 1.2 pip from 0.8 pip from 0.0 pip
Commissions (1 lot) 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 2.0 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 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 - Instaforex gets some extra popularity points for their huge and excellent range of Forex education materials, available through the "For Traders" tab. Instaforex clients can brush up their knowledge with Forex articles, watch and learn with video tutorials, read and make informed decisions with Instaforex fundamental & technical analysis reports and watch the broker's own media channel, the InstaForex TV.

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.

Broker Profile

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.

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 35

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Instaforex Products

Forex
Metals
Shares/Equities
Indices
Oil/Energies
Commodities (coffee, sugar...)
Cryptocurrencies
Bitcoin