InstaForex Broker 2020

Are you looking for the best broker in Asia? You are in the right place then. Here we are again with the latest InstaForex review.

InstaForex is a well-known and authentic parent company of financial services. Working for a long, this broker has successfully grabbed the position in a list of competent brokers. Our content contains a brief but helpful covering all aspects of this broker. This InstaForex review contains a detailed note on their fees, markets, platforms, account types, mode of transactions, and their golden history.

instaforex review
4.4/5

71% of retail CFD accounts lose money

Short Summary

Minimum Deposit

0 $

Assets

Currency pairs, CFDs on commodities, indices, stocks, cryptocurrencies, metals

Demo Account

Yes

Islamic Accounts

Yes

Caution: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Retail investor accounts lose money when trading CFDs with this broker. Your capital is always at risk.

Have an eye on the features of this broker. Instaforex

Pros
  • Huge Markets
  • Low deposit
  • MT4 integration
Cons
  • Direct call support not available

Introduction

71% of retail CFD accounts lose money

InstaForex is also known as Instant Trading. The InstaForex review introduces you to the history of this broker.

Year Founded

InstaForex has been working in the financial market since the year 2007. After that, this firm extended its network due to its performance and fame.

Sponsorship

This company sponsors sports and events. Many famous personalities have an association with this firm. These names are Ales Loprais, Borussia Dortmund, Daria Kasatkina, Ole Einar Bjørndalen, and Vladimír Moravčík.

Headquarters

This company has almost 260 workplaces in many countries. Although the headquarter of this company is in Mesa Geitonia, Cyprus.

It has many offices in

  • The British Virgin Islands
  • Europe
  • Asia

Choosing clients

InstaForex chooses its clients from the following countries. Have a look at the countries that do not have an exception for working with them.

Acceptable Clients

InstaForex accepts clients from Middle East Countries, Europe, and Australia. Clients from Pakistan, India, Bangladesh, China, Japan, Thailand, Malaysia, Mexico, Russia, and Qatar are also acceptable.

Not Acceptable

Clients from the US, North Korea, and Nigeria are not acceptable.

Regulation

71% of retail CFD accounts lose money

InstaForex review of its regulation makes it reliable. There are some tidbits about it.

  • This company is not listed on the stock exchange.
  • It does have any banking license.

The following companies work under the trademark of InstaForex Group. The following are the regulatory authorities of this company.

  • Instant Trading Ltd (BVI) is licensed by BVI FSC, License Number SIBA/L/14/1082.
  • Insta Service Ltd is registered with FSC Saint Vincent, Reg. Number IBC22945.
  • The company, Insta Global Ltd. has registration in Saint Vincent, IBC24321.
  • InstaForex does not have authorization with different bodies in extra nations. The FSC is essential for the Memorandum of Understanding, with the controllers from 31 European nations. This update was brought to existence in 2013. In simple words, the 31 European countries have to authorize the branches under this single legislation body.

Safety

InstaForex has been ranked as the best forex broker in the Asiatic region.

  • The client’s funds are kept in separate accounts.
  • Data is secured by encryption.
  • There is also negative balance protection of 20,000 EUR.

Assets

InstaForex  offers 300+ trading instruments. These brokers cover the market by providing the opportunity to trade with the following products.

  • Currency pair – These are the majors, minors, and exotics.
  • CFDs Commodities- Gold, Metals, and Agricultural Products.
  • Indices- FTSE 100, NASDAQ are also available.
  • Cryptocurrencies- Bitcoin and other crypts are available.
  • Stocks- You can enjoy trading in a large variety of Stocks

According to the 2020 listing, the figure for these assets is provided in the following table.

Currency Pairs
110
Commodities Futures
53
Stock  CFDs
89
Cryptos
5
Indices CFDs
15
Energies
17
Metals
4

Fees and Margins

71% of retail CFD accounts lose money

InstaForex deducts commissions as well as the spread charges. This broker offers many types of accounts. So the fee or spreads depend upon the account you choose. The official website of InstaForex contains detailed fees, commission slab, spreads, margin, lot size, and leverages of each product.

Account Spread Fee Margin
Standard
3-7 pips
0
25%
Eurica
0 pips
0.03 %-0.07%
25%
Cent Standard
3-7 pips
0
25%
Eurica Standard
0 pips
0.03-0.07 %
25%

The rates are on an average basis. However, the rates and margin requirements may vary from the asset.

Leverages

InstaForex review for leverages is very satisfactory. They give leverages from 1:1 to 1:1000. Leverage policy also varies from country to country. Like in the UK, this broker provides leverage of 30:1 according to the rules of FCA.

Non-Trading Fee

This fee includes the subscription, deposit, and withdrawal fee.

  • Deposit and withdrawal are not free. Different sources of deposit and withdrawal have different modes of deductions.
  • You only have to pay the conversion fee when you withdraw your money except for your selected base currency.
  • After inactivity of 12 consecutive months, InstaForex deducts $10 per month.
  • Moreover, there are no hidden charges.

Account Opening

71% of retail CFD accounts lose money

First of all, you need to know which country is acceptable for this broker. Let us see some facts regarding the account opening of InstaForex.

  • The minimum deposit of a standard account is as low as $1.
  • It is fully digital.

Here are a few steps that might be helpful for you to know the procedure of account opening.

  • Just after opening the website, click on Instant Account Opening.
  • Provide your contact details like e-mail, address, and contact number.
  • Enter your personal and professional information.
  • Choose your account type.
  • You have to provide documents for verification of your identity and residency. You can use your pictures of your id card, driving license, or passport to show identity. For residency, you can share detail and pictures of your bank statement, electricity or utility bill, and credit card detail.
  • Submit your details/ form to the Client Cabinet for the verification of your documents.
  • Now go to the Account settings and verify the account.

Types of Accounts

71% of retail CFD accounts lose money

InstaForex provides you many types of accounts to try your luck. These different accounts have different requirements, results, and fees policy.

Standard Account

This is a simple type of account that anyone from anywhere can start. You can use three currencies which are USD, GBP, and EUR. It proceeds three types of trading which is

  • Micro forex trades with minimum deposits of $1 to $10.
  • Mini forex trades with minimum deposits of $100.
  • Standard forex trades with minimum deposits of $1,000.

Eurica Account

This account is best if you do not have much experience in trading. It does have a zero spread but a fixed fee, which is 0.03-0.07 percent for trade. You can use the USD, GBP, or EUR for your currency.

Cent Standard and Cent Eurica

The cent standard account has the same properties as having the standard account. In the same way, the cent of eurica has the same features of the eurica account. But these accounts are meant for those traders who are unknown to trading. These accounts even have a maximum limit. You cannot deposit more than 1000 USD in these accounts. Both of them allow you to place a trade of very small lot size to volume of 0.0001. Such a small lot size has a market worth of 0.1 US cents. It is very helpful for new traders.

Islamic Accounts

InstaForex also offers Islamic accounts so that the Muslim traders can trade without any problem. Islamic accounts do not charge for the swap-fee.

InstaForex also offers ECN, ECN Pro, and Scalping Account.

Deposits & Withdrawals

71% of retail CFD accounts lose money

InstaForex offers free deposit and withdrawal. You can make transactions only by your accounts.

  • There is a minimum deposit fee. But if you pay through the bank wire, the minimum deposit will increase up to 300 USD.
  • The account opening fee is also very low.

You can fund your account in the following ways.

  • Bank Transfers
  • Credit and Debit Cards
  • Electronic wallets like Neteller and Skrill
  • Bitcoin Payment System
  • Transaction within a country can also take place through local services like Jazz Cash, Paytm.

However, for withdrawal, you can use the same methods. The withdrawal is paid on different means.  Personal accounts on InstaForex pay a fee of 1.5 % and $0.30 for withdrawals. For business accounts, you have to pay more that is 2.5 % and $0.30.

To withdraw you need to follow these steps.

  • Log in to your account.
  • Click on the option of withdrawing money.
  • Add your method and desired amount.

Withdraw takes almost 2 working days.

Trading Platform

71% of retail CFD accounts lose money

InstaForex offers MetaTrader4, MetaTrader5, Web Trader, Insta Binary, and a PAMM system. But most of the well known and frequently used is the MT4.

MetaTrader 4

  • MetaTrader 4 was introduced to the market in 2005 by MetaQuotes.
  • MT4 has a wide range of assets.
  • It involves the feature of Expert advice.
  • MT4 provides 3 types of charting tools.
  • It facilitates by backtesting strategy.

Web Trading Platform

  • It is user friendly.
  • Fee reports and trading history are clear.
  • You cannot set price alerts
  • It has good customizability (for charts, workspace)
  • The design is old.
  • Search functions are good.
  • You can place only basic order types like market, stop, limit, Good till the time, and good till canceled.
  • It is available in a large number of languages. Lit looks like everyone can understand and use this software.
  • Login is a double step. Unlike other software, MT4 sounds safer.

Mobile Trading platform

  • It has good customization.
  • MT4 mobile version is available on iOS and android.
  • Search functions are better than the web version of this platform.
  • You can set only basic order types like limit, market, stop, and good till time. Good till canceled is also available. They are the same as that of the web version.
  • It is available in many languages also.
  • Login is a single step that is less safe.
  • You can set price alerts and notifications.
  • There is double-step verification for withdraw or depositing funds in your account.
  • The fee report is clear.

Desktop Trading platform

  • It is almost as same as the web trading platform.
  • You can set basic order types as you can set in mobile and web version of it.
  • Search functions are just average.
  • You can set up price alerts and notifications. All you need is to enter your MetaQuotes ID.
  • It is outdated.

WebTrader

InstaForex offers a web trader named WebIFX. Through WebIFX you can trade in the browser. It has useful features. It gives you the choice of three work interfaces. You can review the market as well as analysis and access to all financial assets.

InstaBinary

Binaries are not offered on InstaForex except for a few regions. For trading of binaries, InstaForex has a platform. InstaBinary does not need any kind of downloading. You can place your trades online on this forum.

PAMM

PAMM is the abbreviation of the Percent allocation management module. This feature is for the money managers or traders. So they can manage different accounts or trades at the same time. It has additional controls and powerful tools.

InstaForex Mobile Appt

InstaForex has also launched a mobile app. They are two applications having a different setup for android and Apple. But unfortunately, the InstaForex review is very poor. You can get it directly by viewing them on the broker official website.

Copy Trading

InstaForex introduces an MT4 version for copy trading that is ForexCopy. This platform is helpful for the new traders or for those who are looking for copy trading. It has many useful features.

Ratings of Platforms

Web Trading Platform – Good

Mobile Trading platform– Good

Desktop Trading Platform– Average

Research

71% of retail CFD accounts lose money

InstaForex review of its research is very impressive and satisfactory. They have a great team of researchers and analysts. The secret of success goes to the InstaForex research team. Their research departments includes;

  • InstaForex TV includes the Traders Desk. It is one of the most advanced and useful features for research.
  • Pattern Graphix
  • Popular Analytics
  • Forex Forecast
  • Economic Calendar
  • Forex news

Education

71% of retail CFD accounts lose money

InstaForex review about education is also impressive. They provide education through various means.

  • They have articles and blogs.
  • Educational, Platform tutorial videos
  • Webinars
  • A demo account with virtual cash is also provided to test and enhance the skills of a trader.
  • For beginners, there is a course of 16 lectures. It contains the necessary education about forex trading. To get admission in this course, all you need is to submit $100 as your initial deposit in InstaForex.

Bonus and Promos

InstaForex review about offering the bonus is surprising. They offer many kinds of bonuses. Even they also conduct contests. There are many exciting gifts and cash prizes. Some winners have also won a Ferrari.

Customer Services

71% of retail CFD accounts lose money

Axitrader review about their services is good. Customer services are available in many languages. There are 17 languages through which you can communicate.

  • You can contact them via email, and live chat.
  • Phone support is not available.
  • They are very relevant and responsive to their queries.
  • Customer services are available 24/5.
  • You can contact them with many social media apps.

Here are some details to contact them.

InstaForex Review

71% of retail CFD accounts lose money

After researches, we found that InstaForex is a good broker. InstaForex review is excellent as they have been awarded several times for their best performance. They have low to average prices. For professionals, they charge more like other brokers. Also, trading platforms are worthy. Their mode of research and education is also appreciable.

Forexscams.com provides essentials information regarding the forex broker. For more broker reviews, visit our website  www.forexscams.com

Feel free to contact us in any query.