Home/ Best Forex Brokers/ InstaForex

InstaForex Review

Author By Jeffrey Cammack
Updated: October 7, 2021
Overall Rating
3.32 3.32 / 5
Rated #61 of 66 Recommended Brokers
Min. Deposit
GBP 1
Regulators
Trading Desk
Trading Cost
USD 30
Website Language
Arabic, English, Indonesian, Polish, Portuguese, Chinese, Malay, Vietnamese, Thai
Support Language
English, Arabic, Portuguese, Chinese, Indonesian, Malay
AlertAccepts UK Clients. Average spread EUR/USD 3 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 platform supported. Instaforex is regulated by CySEC and FSC (British Virgin Islands). 71.71% of traders lose money with this provider.

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Summary

With a broad range of tradable assets and a number of accounts with higher deposits linked to tighter spreads, InstaForex appeals to traders looking for flexible trading conditions.  

A well-regulated broker, InstaForex offers trading on shares, indices, commodities, cryptocurrencies, and over 70 Forex pairs – a much larger range than is typically available at other brokers.  

InstaForex offers six live instant execution accounts, with higher minimum deposits linked to tighter spreads.  Its entry-level accounts have a minimum deposit of 100 EUR, but high trading costs, with spreads of 2 pips (EUR/USD) on its Standard Account.  Trading costs improve significantly on its commission-free VIP ECN Account with spreads of 0.5 pips (EUR/USD), but this is in exchange for a minimum deposit of 20,000 EUR.   

Support is offered for both MT$ and InstaForex’s own proprietary trading platform, alongside a range of trading tools, including VPS hosting services, various copy trading applications, and a number of technical analysis tools. 

One drawback is that the educational materials are poorly presented and lack depth, making it a poor choice for beginner traders.  However, InstaForex’s market analysis materials are detailed and frequently updated to help traders make better trading decisions.

Reviews

Regulation
1110.503.5/ 5
Trading Conditions
110002/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
111104/ 5
Education & Research
111003/ 5
Assets Available
1110.503.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Standard
Bonuses

Account Information

Base Currencies
USD, EUR, RUB
Number of FX Pairs
110
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Acct

Trading Conditions

Min. Spread
0 pips
Commission
Fees Included in Spread
EUR/USD
0 pips
GBP/USD
0 pips
USD/JPY
0 pips
Max. Leverage
30:1

Company Details

Company Name
InstaForex Group
Founded
2007
Office Locations
Bangladesh, Ghana, Guatemala, Hong Kong, India, Indonesia, Kazakhstan, Malaysia, Moldovia, Nigeria, Pakistan, Peru, Tunisia, Ukraine

Pros

  • Wide range of assets
  • Copy trading accounts

Cons

  • Expensive withdrawals
  • Limited education
  • Wide spreads

Is InstaForex Safe?

Yes, with regulation from a number of top-tier regulatory authorities, including the FCA, CySEC, the BVI FSC, InstaForex is considered a safe broker to trade with.

Founded in 2007, InstaForex is a global CFD and binary options broker headquartered in Cyprus.  A well-regulated broker, InstaForex maintains regulation from the Cyprus Securities and Exchange Commission (CySEC), the UK Financial Conduct Authority (FCA), the British Virgin Islands Financial Services Commission, and the Financial Services Commission in Saint Vincent and the Grenadines.  See below for a list of registered companies:

  • Instant Trading Ltd is licensed by BVI FSC (British Virgin Islands). License Number: SIBA/L/14/1082.
  • Insta Service Ltd is registered with FSC Saint Vincent and the Grenadines, registration number IBC22945.
  • Instant Trading EU Ltd is regulated by CySEC, licence number: 266/15.
  • Instant Trading EU Ltd is regulated by the FCA, licence number: 728735.  Note that InstaForex only has temporary FCA permission.

Although InstaForex maintains permission from the FCA, this is only temporary, and so UK residents will be trading under the CySEC-based entity.  A top-tier regulator, CySEC is credited with active regulation of the markets, and proactively making changes to protect clients.

Under CySEC regulation, InstaForex segregates client funds from its operating capital in various banking institutions, and will not use customers’ funds in its operation or any other investment, ensuring their protection at all times.  It also provides its clients negative balance protection, so that they cannot lose more than is in their trading accounts. 

Instaforex also insures all client money through the Investor Compensation Fund (ICF).  The objective of the ICF is to secure any claims of covered clients against members of the ICF by paying its clients compensation in the event that the company is liquidated.

Awards

  • InstaForex has received many awards over the years.  Recent highlights include:
  • Best Forex Broker Central and Eastern Europe 2020 (International Business Magazine)
  • Best Affiliate Program 2020 (Global Brands Magazine)
  • Best Forex Broker Eastern Europe 2019 (International Business Magazine)
  • Best Broker in Asia 2019 (Le Fonti Awards)
  • Best Forex Cryptocurrency Trading Platform 2018 (UK Forex Awards)

Taken together, the long history of responsible behaviour, the strict banking standards, the first-class international regulation, and the industry praise, we deem InstaForex a trustworthy and safe broker.   

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Inactivity Fee
CySEC
B.V.I FSC
ECN/DMA
2007
Bangladesh, Ghana, Guatemala, Hong Kong, India, Indonesia, Kazakhstan, Malaysia, Moldovia, Nigeria, Pakistan, Peru, Tunisia, Ukraine
Yes after 6 months of inactivity

Trading Fees

InstaForex’s trading fees are average compared to other similar brokers.

InstaForex offers six trading accounts, three of which are market execution ECN accounts, a market execution OYS account, and two instant execution accounts.  Support is offered for Metatrader 4 and Webtrader (see here for more on InstaForex’s trading platforms).   

InstaForex’s fee structure is transparent, and it publishes all spread and commission costs associated with each account.  

InstaForex’s accounts were assessed to compare the costs to those of other brokers. The costs were evaluated based on the trading fees on one lot (100 000 USD) on the EUR/USD, including the spread and commission. 

When making this calculation, we use one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread. 

Trading Cost Formula: Spread x Trade Size + Commission = Cost in Secondary Currency (USD):

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Trading account
Min. Deposit
Min. Spread EUR/USD
Commission
Trading Cost (USD)
ECN Pro
EUR 5000
0.80
None
8 USD
ECN VIP
EUR 20000
0.50
None
5 USD
ECN/ECN Scalping
EUR 500
1.20
None
12 USD
Eurica account
EUR 100
0
30 USD
30 USD
OYS Account
EUR 10000
0
25% of profits
25% of profits
Standard account
EUR 100
2
None
20 USD

 

As you can see from the table above, the trading costs on InstaForex’s ECN VIP Account are lower than those on the other accounts, but requires a minimum deposit of 20,000 EUR, putting it out of the reach of most traders.  Unlike other brokers, no commissions are charged on the ECN accounts, and trading costs are included in the variable spreads.  

Trading costs on the Standard and Eurica accounts are significantly higher than average – the trading costs at most other good brokers tend to be 9 USD per lot of EUR/USD traded. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
110002/ 5
USD, EUR, RUB
3 pips
USD 30
0 pips
0 pips
0 pips
0.0
11110.54.5/ 5
USD, GBP, EUR, AUD, CHF, JPY, PLN, ZAR
1.40 pips
USD 14
1.9 pips
2.4 pips
1.6 pips
0.0
111115/ 5
USD, EUR, GBP, PLN
0 pips
USD 4
0.0 pips
0.0 pips
0.0 pips
4

Swap Fees

The other main trading cost to consider is the overnight swap fee. Swaps can be either positive or negative. Interest for a position carry over in a currency market is paid or deducted for every open trade at 17.00 EST (Eastern Standard Time) for every trading day. Trades opened before 17.00 EST and retained after this time are considered as carried over till the next day and are charged or credited with an interest depending on a trading position opened by the trader.  For example, InstaForex charges a swap fee of -0.63 on a long position and -0.15 on a short position.

Compared to other similar brokers Instaforex’s minimum deposits are higher than average on its market execution accounts, but the ongoing costs are average.  The minimum deposits on the Standard and Eurica accounts are reasonable, but the ongoing costs are high.  

Non-trading Fees

Instaforex’s non-trading fees are higher than other similar brokers.

Some of the most overlooked trading costs are the non-trading fees that are charged by brokers.  These fees can significantly affect your profitability and so should be carefully scrutinised.  

InstaForex charges no fees for deposits, but it charges high withdrawal and inactivity fees. For example, a fee of 8 EUR applies for withdrawals via bank transfer (click here for more on deposits and withdrawals).  A currency conversion fee will also apply for deposits and withdrawals from bank accounts in a different currency than the trading account.

Additionally, UK clients are charged an inactivity fee of 5 EUR or 5 USD after six months of account dormancy. 

Overall, Instaforex charges higher non-trading fees than other brokers.  

Opening an Account at InstaForex

Opening an account at InstaForex is fully digital, hassle-free and accounts are ready for trading within 1 day.

UK residents are eligible to open an account at InstaForex but will have to meet the following minimum deposit requirements:

  • Standard Account: 100 EUR
  • Eurica Account: 100 EUR
  • OYS Account: 10,000 EUR
  • ECN Scalping Account: 10,000 EUR
  • ECN Pro Account: 5,000 EUR
  • ECN VIP Account: 20,000 EUR

Forex trading account registration only takes a few minutes.  After registration, you will receive the welcome bonus amounting to 30% of the money you have deposited to your forex account.

The account-opening process is as follows:

  1. Accept the terms of the Public Offer Agreement. This agreement does not have to be signed in order to be binding – it is as legally valid as a standard paper contract.
  2. Fill in the special registration form. After you have completed all the fields, you will receive the following information via email:
    • Your forex trading account number (login) and trader password needed to access Client Cabinet. They are also used for conducting operations via the trading platform;
    • Your phone password (keyword) used when you contact InstaForex specialists from Technical Support or Dealer Department;
    • Your PIN code for confirming withdrawal requests.
  3. Traders can start trading on the Forex market once they have deposited money into their forex trading account for the first time. However, this needs to happen within 30 days after initial account registration.
  4. Traders can set up a trading terminal on their PC, tablet or smartphone, and start trading.
  5. If your account has not been verified yet, you enjoy just 60% of all the opportunities InstaForex gives you. Although account verification is not obligatory, it provides you access to the full spectrum of the services.   Accounts can be verified need by uploading a scanned copy of your passport or any other ID (on this page). Within 72 business hours after sending the document, you will receive an email confirming the status of your trading account or requesting additional documents necessary for the verification. 

Overall, InstaForex’s account opening process is fully digital and hassle-free, and new traders will be pleased that they can deposit funds without waiting for account verification. 

InstaForex Account Types 

InstaForex has a wide range of account types, with higher minimum deposits linked to tighter spreads.  

InstaForex offers CFD trading on Forex, stocks, indices, commodities, and cryptocurrencies (click here for more on InstaForex’s tradable instruments).  

InstaForex has two different account types suited to beginner traders.  Beginner traders are inexperienced traders who have never traded before, or who have been trading for less than a year.  Beginner traders often do not want to risk trading large sums of money and generally will not be able to trade full-time during the workweek. 

Accounts with lower minimum deposits and which allow trading in micro-lots are generally more suited to beginner traders.  However, spreads on these accounts are often wider than those with higher minimum deposits.  Instaforex’s Standard and Eurica accounts have a minimum deposit of 100 EUR, putting them within the reach of beginner traders, but have much higher trading costs than the other accounts.  

Experienced traders generally prefer to pay higher minimum deposits for tighter spreads.  InstaForex’s four market execution accounts have higher minimum deposits, but tighter spreads – ranging between 0.5 and 1.2 pips on the EUR/USD, which is competitive. It also offers a unique account, known as the OYS Account with a minimum deposit of 10,000 EUR, where traders pay 25% of the profits generated on each trade to the broker.     

British traders will have access to leverage of up to 30:1 due to CySEC regulatory leverage restrictions, and accounts are denominated in USD, EUR, and GBP.    InstaForex allows copy-trading and scalping on its accounts. 

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Account Types
Min. Deposit
Max. Leverage
Min. Spread
Commission
ECN Pro
EUR 5000
30:1
0.80
None
Account Details
ECN VIP
EUR 20000
30:1
0.50
None
Account Details
ECN/ECN Scalping
EUR 500
30:1
1.20
None
Account Details
Eurica account
EUR 100
30:1
0
30 USD
Account Details
OYS Account
EUR 10000
30:1
0
25% of profits
Account Details
Standard account
EUR 100
30:1
2
None
Account Details

InstaForex’s six live account types include Standard, Eurica, OYS, ECN, Scalping, ECN Pro, and VIP ECN:

  • Insta.Standard Account: The Standard Account is an instant execution account, with a minimum deposit of 100 EUR and fixed spreads (starting at 2 pips), which is much wider than other similar brokers.  This account is good for beginner traders who prefer their fees paid in the spread rather than via commission.
  • Insta:Eurica Account: Also an instant execution account with a 100 EUR minimum deposit, this account is very similar to the Insta.Standard Account – the only difference being a 0 pip spread (EUR/USD) in return for a high commission (of 30 USD). 0 pip spreads are offered on major and minor currencies, but all other assets will have wider spreads.
  • ECN Scalping Account: The first of the four market execution accounts, the minimum deposit on this account is 500 EUR. Spreads are variable, but average at 1.2 pips, and no commissions are charged on this account.  This account is built for scalpers, with ultra-fast market execution. 
  • ECN Pro Account: Also a market execution account, the minimum deposit is 5000 EUR and the variable spreads are tighter, averaging at 0.8 pips on the EUR/USD.  Again, no commissions are charged, and fees are included in the variable spreads. Traders have access to free VPS services and a personal account manager.  
  • ECN VIP Account: With a minimum deposit of 20,000 EUR, traders have access to spreads that average at 0.5 pips on the EUR/USD, which is much tighter than other similar brokers.  No commissions are charged,  and traders also have access to free VPS services and a personal account manager.
  • OYS Account: A market execution account, OYS requires a minimum deposit of 10,000 EUR.  Traders have access to raw spreads, which means that traders receive quotes directly from the liquidity providers.  Although no fixed commissions are charged by InstaForex, traders pay 25% of their profits to the broker.  Traders have access to a free VPS service and a personal account manager.  

Demo Account

InstaForex also offers a demo account with virtual funds that can be topped up on request.   Demo accounts are a great way to practice trading in a risk-free environment, and it gives traders an opportunity to familiarise themselves with InstaForex’s platforms.

Deposits and Withdrawals

InstaForex offers a wide range of deposit and withdrawal methods.  While no fees are charged for deposits, it charges high withdrawal fees.  

A well-regulated broker, InstaForex does not process payments to third parties. All withdrawal requests from a trading account must go to a bank account or a source in the trader’s name. InstaForex reserves the right to request further documentation while processing the withdrawal request or to decline a withdrawal request with a specific payment method and suggest another payment method. Instaforex reserves the right if it is not satisfied with any documentation provided by the Client, to reverse the withdrawal transaction and deposit the amount back to the Client’s Trading Account.

Fees are only charged for deposits on the Standard and Eurica accounts, while traders are charged for all withdrawals. However, Instaforex covers commissions for withdrawals if the sum of a transaction is above 5,000 EUR (or equivalent in another currency). Deposits and withdrawals are processed within one business day.  

British traders can make both deposits and withdrawals via local bank transfers (Eurobank), credit cards/debit cards, Sofort, bank wire transfers, Rapid Transfer, Payoma, Neteller, and Skrill.

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Funding Method
Base Currency
Deposit Fees
Withdrawal Fees
Processing Time
Bank Transfer
EUR, USD
<2,000 EUR - 8 EUR; >2,000 EUR - 16 EUR
<2,000 EUR - 5 EUR; >2,000 EUR - 10 EUR
Deposits processed within 1-2 days; withdrawals can take 2 - 4 days
Broker to Broker
Mastercard
EUR, USD, GBP
0.25 EUR + 1.6%
1 USD/1 EUR
Deposits are processed within 24 hours; withdrawals are processed within 1-6 business days.
Neteller
EUR, USD, GBP
0.29 USD + 3.9 %, Minimum fee charged 1 USD
2% fee, minimum fee 1 USD
Deposits and withdrawals are processed within 1 business day
Skrill
EUR, USD, GBP
1%
No withdrawals allowed
Deposits are processed within 24 hours; funds cannot be withdrawn via Skrill
Unionpay
Visa
EUR, USD
0.25 EUR + 1.6%
1 USD/1 EUR
Deposits are processed within 24 hours; withdrawals are processed within 1-6 business days.

 

Overall, InstaForex offers a wide range of payment methods, but withdrawal fees are high.    

Base Currencies (Trading Account Currencies) 

InstaForex offers a limited number of base currencies compared to other brokers.

Trading accounts can only be denominated in four base currencies – EUR, USD, GBP, and RUB, which is limited compared to other brokers.  Most other brokers denominated accounts in at least five to ten currencies.  Having accounts denominated in GBP is an advantage for British traders who will likely have bank accounts denominated in GBP, and who will be able to avoid paying conversion fees on deposits and withdrawals.  

For traders that trade in large volumes (more than 10 lots a month), it is better to open an account denominated in USD at a digital currency bank, especially for trading on assets such as the EUR/USD. This is because when trading a USD quoted currency pair with a GBP account, there will be a small conversion fee for every trade made.

Overall, although InstaForex offers a limited number of base currencies compared to other brokers, it offers accounts denominated in GBP. 

Trading Platforms

InstaForex platform support is average compared to other similar brokers.  

Alongside InstaForex’s proprietary web-based platform, it also offers support for MT4, one of the most popular trading platforms in the Forex industry.

InstaForex WebTrader: Designed by InstaForex, the user-friendly WebTrader trading platform is available only to the broker’s clients. WebTrader enables investors to trade directly in a web browser, so there is no need to download and install any software. This platform offers access to all the latest Forex news and analysis and synchronises with all other InstaForex platforms, allowing for multi-platform trading.

MetaTrader 4 – The MT4 trading platform is the most widely used Forex trading platform and can also be used to trade other instruments like commodities, cryptocurrency, stock index, and stock CFDs. Though it is now showing its age, MT4 is still immensely popular for its auto trading features that enable algorithmic trading and strategy backtesting with expert advisors (trading robots). 

Features of InstaForex’s MT4 platform include:

  • 30  technical indicators
  • 31 graphing objects
  • Three chart types
  • Nine timeframes
  • One-click trading.  
  • Traders can also add custom EAs and indicators.

While MT4 has great customizability, the platform feels outdated, and some of the features may be hard to find.  In addition, only the basic orders are available, including Market, Limit, Stop, and Trailing Stop.

The benefit of InstaForex offering third-party platforms such as MT4 is that traders can take their own customised version of the platform with them should they choose to migrate to another broker.  Additionally, there are thousands of plugins and tools available for the MetaTrader platforms.

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Broker
Platform Choice
Copy Trading
Platforms
111104/ 5
111115/ 5
FxProEdge
11110.54.5/ 5

Overall, InstaForex’s platform support is average compared to other similar brokerages, and it offers its own proprietary trading platform which is easier to use and set up than MT4.  

InstaForex’s Mobile Trading 

InstaForex’s mobile trading support is limited compared to other similar brokers, and there is no mobile solution for the Webtrader.  

InstaForex offers a range of downloadable apps, available on both Android and iOS (which will be discussed in detail below). However, there is no mobile WebTrader application.

Metatrader 4 MobileTrader

MT4:  The MT4 mobile application offers full InstaForex account functionality to offer a seamless transition from the desktop application. It is available on both Android and iOS. However, traders should be aware that it may vary in the number of technical indicators and instruments available to trade, and has different chart types and market analysis tools compared to the desktop version.  Features of the mobile app include:

  • User-friendly interface
  • 9 time frames
  • A large set of tools for technical analysis
  • Online Economic News Feed
  • Possibility of automatic trading
  • Ability to lock positions
  • A wide selection of free indicators and advisers
  • Creating your own indicators, Advisors (MQL4)
  • Secure 128-bit encryption
  • Trailing stop

Trading Tools

InstaForex offers a host of useful trading tools to help traders make better trading decisions. 

InstaForex offers a number of trading tools, including a VPS hosting service, a copy trading platform, various indicators, and educational resources.    

VPS: VPS hosting only runs on Windows OS.  The Virtual Private Server enables you to upload and run your MT4 Expert Advisors and cAlgo Robots 24 hours a day, without needing to keep your trading terminal running.  Available for free for accounts with balances over 5000 USD,  VPS services are provided by a third-party, Beeks FX VPS.  VPS services have the advantage of never suffering connectivity issues and have extremely low latency due to their proximity to major international exchanges.  See below for more details:

ForexCopy:  The ForexCopy mobile app will help you explore the process of copying orders of top traders and start making money on their successful trades.  Followers can quickly and easily follow the trades of others, automate the copying process, and select from a large number of traders (signal providers).  Signal providers have the benefit of setting their own commission types and can easily monitor who is following them.  

Forex Signals: The Forex Signals app helps you conduct analysis and react to market developments promptly.  

Forex Strategies: By installing this application, you get access to trading strategies that allow you to gain additional experience and extend profits. 

Forex Quotes and Analysis: This app helps traders to make sound decisions while trading on Forex.

The Forex Quotes and Analysis app enables you:

  • To get quotes online
  • To stay abreast of upcoming events with an economic calendar
  • To read financial news provided by leading news agencies
  • To analyze market conditions
  • To monitor the latest macroeconomic reports
  • To analyze the dynamics of quotes on charts
  • To receive analytical reviews from forex experts. 

Crypto Learn: This app allows traders to explore and learn about the cryptocurrency market. 

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Broker
Autochartist
Trading Central
Trading View

Overall, InstaForex provides a decent selection of trading tools. 

Financial Instruments

InstaForex offers an average range of trading instruments compared to its competitors, but its Forex offering is impressive. 

InstaForex offers trading on Forex, indices, shares, commodities, and cryptocurrencies.

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Financial Instrument
Number of Assets
Leverage
Commodities
53
20:1
Stock CFDs
83
5:1
Forex
110
20:1

 

  • Forex pairs: InstaForex offers 73 Forex pairs to trade, a much broader range than is offered by most other brokers.  These include majors, minors, and exotics such as USD/ZAR and ZAR/JPY. Maximum leverage is 1:30.
  • Commodities: InstaForex offers trading on 7 commodity futures, including metals, energies, and agriculture, a limited offering compared to other brokers. Maximum leverage on commodities is up to 1:20.
  • Stock CFDs: InstaForex’s stock CFD offering is average compared to most of its competitors, with only 125 stock CFDs available to trade, including popular US tech companies, and those listed on the NASDAQ and NYSE, and more. The maximum leverage on stock CFDs is up to 1:5
  • Indices: Instaforex offers cash and futures contracts on over 13 international indices, including the NASDAQ, S&P500, FTSE100, and the Nikkei. This is an average range of indices compared to other brokers. Maximum leverage is 1:20 on indices. 
  • Cryptocurrencies: InstaForex offers a reasonably wide range of cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Dash Coin, Ripple & Litecoin.  The maximum leverage is up to 1:2 on cryptocurrencies.  Spreads on these currencies are variable and are significantly higher than Fiat currencies, but in line with other brokers.

Overall, Instaforex provides an average range of tradable assets, but it should leave most professional traders satisfied. 

InstaForex for Beginners

While InstaForex offers a demo account and two low deposit accounts targeted at beginner traders, it is not a welcoming environment for those with little trading experience. A structured trading course is only made available once a live account has been opened, and the freely available education is limited in scope and poorly presented.

Education

InstaForex’s educational materials are good for those who open a live account, but the freely available educational materials are lacking.

InstaForex provides a good trading course for those who open a live account.  Lessons cover the basics of Forex trading, how to use the Metatrader platforms, technical analysis, and fundamental analysis, among others.

The freely available educational materials comprise a small selection of videos and tutorials that cover key concepts, margin trading, technical analysis, swaps, futures, and currency pairs.  The videos are short and to the point, but lack depth. It also offers a number of written materials explaining the basics of Forex trading, but better materials can be found at other brokers.

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Broker
Beginner Course
Advanced Course

  

Market Analysis

InstaForex’s market analysis is extensive, frequently updated, and useful for traders.   

Market analysis, on the other hand, is updated daily by the InstaForex team. It is detailed and precise and presented in both video and text format. The research is divided into multiple topics, including Stock Markets, Hot forecast, Trading Plan, cryptocurrencies, For beginners, Video Analytics, and Pattern Graphix.  Navigating through the research is simple, and the research is frequently updated.

Overall, InstaForex’s market research is impressive compared to what is typically available at other brokers.  

Customer Support

Customer service is available in 18 languages, via email, live chat, Skype, and a responsive call-back service. Technical support is also available via several messaging services such as WhatsApp, Telegram, and Viber.

Technical support is available 24/5, while client relations is available from 08:00-17:00 (UTC +00).

For the purposes of this review, we found the customer support mostly responsive, but unable to answer some of our questions.  For example, they could not give us a breakdown of the leverage associated with each financial instrument.  

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the InstaForex product offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. InstaForex would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.24% 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.

Overview

InstaForex is a well-regulated market maker broker with six live accounts.  Support is offered for MT4 and its own proprietary WebTrader platform in addition to a number of useful trading tools.  Minimum deposits are reasonable on its entry-level accounts, but spreads are wider than average, at 2 pip on the EUR/USD on the Standard Account.  Spreads tighten to 0.5 pips (EUR/USD) on its commission-free VIP ECN Account, but this is in exchange for a minimum deposit of 20,000 EUR.   

InstaForex offers a large range of tradable assets, including over 73 forex pairs, and while education is limited compared to other large international brokers, market research is extensive, frequently updated, and detailed.    

AlertAccepts UK Clients. Average spread EUR/USD 3 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 platform supported. Instaforex is regulated by CySEC and FSC (British Virgin Islands). 71.71% of traders lose money with this provider.
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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Acct
Trading Platforms
Funding Methods
Trading Commission
1110.503.32/ 5
GBP 1
ECN/DMA
Commodities
Forex
Stock CFDs
110
11
  • Wide range of assets
  • Copy trading accounts
  • Expensive withdrawals
  • Limited education
  • Wide spreads
1110.503.5/ 5
110002/ 5
111104/ 5
111104/ 5
111003/ 5
1110.503.5/ 5
111104/ 5
71.71% of retail investor accounts lose money when trading CFDs with this provider
30:1
0 pips
Cent.Eurica
Cent.Standard
ECN Pro
ECN VIP
ECN/ECN Scalping
Eurica account
Insta.Eurica
Insta.Standard
Islamic
OYS Account
Standard account
Bank Transfer
Visa
Mastercard
Skrill
Neteller
Bitcoin
Unionpay
Broker to Broker
Fees Included in Spread
11110.54.24/ 5
GBP 100
Market Maker NDD
Forex
Indices
Metals
Stock CFDs
Energies
Futures
70
5
  • Well regulated
  • Great platform choice
  • Tight spreads
  • Limited education
111104/ 5
11110.54.5/ 5
111115/ 5
111115/ 5
1110.503.5/ 5
1110.503.5/ 5
111104/ 5
77% of retail investor accounts lose money when trading CFDs with this provider
30:1
0.60 pips
FxPro cTrader
FxPro MT4
FxPro MT5
Islamic
FxProEdge
Bank Transfer
Visa
Mastercard
Maestro
Skrill
Neteller
Unionpay
9 USD / lot
11110.54.48/ 5
GBP 100
STP
Cryptocurrencies
Forex
Indices
Metals
Stock CFDs
Bonds
62
3
  • Tight spreads
  • Well regulated
  • Fast and free withdrawals
  • Wide range of assets
  • Limited base currencies
111104/ 5
111115/ 5
11110.54.5/ 5
11110.54.5/ 5
111115/ 5
11110.54.5/ 5
111104/ 5
73% of retail investor accounts lose money when trading CFDs with this provider
30:1
0 pips
Classic
Pro
VIP
Bank Transfer
Visa
Mastercard
Skrill
Neteller
SticPay
Unionpay
Fasapay
4 USD / lot - Pro Account
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