IFC Markets
Questrade - Empowering you to take control of your financial future. Join the journey!

Instaforex Review

Picture
InstaForex is an international broker which offers forex trading to traders since 2007. It is one of the earliest brokerage firms in the world and offers a total of 88 CFDs and 107 currencies. They also have over 7 million traders and over 260 offices worldwide. Here is a comprehensive review of the website.

Fees and commission

InstaForex offers two main types of accounts: Insta.Eureka (Dealing desk) and Insta.Standard (non-dealing desk). Both accounts have a minimum deposit of $1. Insta.standard is a commission free account while insta.eureka is a commission-based account. With Insta.Standard, you get average spreads of between 3-7 pips depending on the Pair. On the other hand, Insta-Eureka charges a commission based on trades and vary between 0.03% and 0.07%. In Insta.Standard account, InstaForex lists spreads of three pips on the USD/EUR while in Insta.Eureka account, they have no spread listed. Instead, you get a commission based on the all-in cost of three pips. In general, both types of account are nearly similar in prices.

Research and education tools

InstaForex offers a wide variety of research and education tools from videos to programs which enable traders to test their trading strategies based on the analysis of the major platforms: the MT4 and MT5. They offer an average of four to six forex news daily via these tools including interviews, weekly reviews, and several other educational videos. InstaForex also has a forex trading simulator which enables you to watch a replay of their trading and receive trading information instantly.

Deposits and withdrawals

InstaForex has numerous convenient ways of depositing and withdrawing money including credit cards, InstaForex debit card, bank wire, Neteller, Moneybookers, and several other payment options. The payment system for deposits has to be the same for withdrawals. Some of the options of charge transactions fees but most others like bitcoins are deposited without any fee. When you decide to use credit cards in your trading account, you can only withdraw less than $300 via Skrill/Moneybookers and over $300 via bank transfer.

Trading Platforms and tools

InstaForex is only available via MT4 and MT5. The MT4 platform enables users to monitor online forex, CFDs several other trading features via the web browser or a smartphone. The MT4 also is equipped with MQL4 development that brings a possibility to use and create automated trading systems. The automated trading systems make it possible to enjoy a variety of trading signals and indicators.

InstaForex bonuses

InstaForex claims to offer great opportunities to start trading with incredible start-up bonuses of up to 1000 USD. Start-up bonuses are offered to all new clients and those clients that have are no deposits in the first six months. Furthermore, they claim to offer a 55% bonus on every deposit made on InstaForex. 

Customer support

InstaForex has a variety of customer support services like email phone, Skype, and live support service. Their support services are available 27/7 from 7:00 to 16:00 UTC. They have different phone numbers for different departments which make it possible to serve as many clients as possible.

Trust score

Regulation of a forex broker matters a lot regarding its trust. As of 2018, the company was regulated by CySEC in Cyprus and FSC in British Virgin Islands.
Forexmart
InstaForex