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InstaForex Broker Review

FX Scouts By Jeffrey Cammack Updated: May 25, 2020
Overall Rating
3.42 / 5
Min. DepositUSD 150
Max. Leverage30:1
Min. Spread0.0 pips
Regulators CySEC,B.V.I FSC
Regulator Origin CySEC B.V.I FSC
Trading Desk Type ECN/DMA

Summary

InstaForex is an award-winning and well-regulated broker offering a wide variety of account types with good trading conditions and a copy-trading service. With three market execution accounts, one of which is specifically built for scalping, and two instant execution accounts with no minimum deposit (both of which are available as Islamic accounts), InstaForex will appeal to a wide range of traders.

The market analysis and education sections feature regularly updated content for traders of all experience levels and MT4 is fully supported via download and webtrader.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Beginner Friendly Standard
Bonuses
Our Review Process

Trading Conditions

Minimum DepositUSD 150
Base currenciesUSD, EUR, GBP, AUD
Number of FX Pairs110
Hedging Allowed No
Scalping No
Islamic Account Yes

Average Spreads

EUR / USD
GBP / USD
USD / JPY

Company Details

Company nameInstaForex Group
Founded2007
Website www.instaforex.com
Type ECN/DMA
Regulators CySEC,B.V.I FSC
Office locations Bangladesh, Ghana, Guatemala, Hong Kong, India, Indonesia, Kazakhstan, Malaysia, Moldovia, Nigeria, Pakistan, Peru, Tunisia, Ukraine

Deposit & Withdrawal Methods

Supported Platforms for InstaForex

Is InstaForex Safe?

InstaForex operates globally and it is licensed to operate in each of the countries where it operates.  Among the many commissions that have licensed it, is the Securities Commission Malaysia so that it can have the permission to offer its forex trading services to the Malaysian people.

Account Types

InstaForex offers both real and demo accounts. However, there are several types of real accounts from which a trader can choose from.

These real account types include cent.Standard, cent.Eurica, insta.Standard and insta.Eurica.

  • The cent.Standard and the cent.Eurica accounts were recently created for the purposes of traders who have smaller amounts to deposit and also those who wish to test their trading strategies with minimum risk levels.  These account types have lots of up to 0.0001 lot. Both the cent.Standard and the cent.Eurica account have the same trading terms as the insta.Standard and insta.Eurica accounts respectively.
  • The insta.Standard account and the insta.Eurica accounts are further subdivided into subtypes of micro account, mini account and standard account. The main difference between the micro, mini and standard sub-types is their minimum allowed deposits.
  • The insta.Standard accounts have classical spreads while the insta.Eurica accounts have zero spreads (NO spreads).

Bonuses

InstaForex offers a variety of bonuses to its retail traders. These bonuses include: 55% volume bonus, 30% welcome bonus, LFC Partnership bonus on first-time deposit and club bonus for traders with an InstaForex club card (1% for deposits of 500 USD up to 10% for deposits of 15,000 USD)

Trading Platforms

InstaForex trading platforms are the MT4, MT5, ForexCopy System and an online option for mobile traders.  The ForexCopy system allows forex traders to copy trades from their fellow forex traders who are very successful in forex trading.

Deposit & Withdrawal

InstaForex allows its retail forex brokers to use a variety of money transaction methods in depositing and withdrawing money from their InstaForex accounts. The allowed methods of money transaction include the InstaForex debit card, credit cards, bank wire, Skrill, MoneyBookers, and Neteller.

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Overall Rating 3.42 / 5 4.09 / 5 2.62 / 5
Minimum DepositUSD 150USD 100USD 1
Regulation
CySEC CySEC
B.V.I FSC B.V.I FSC
CySEC CySEC
FCA FCA
DFSA DFSA
VFSC VFSC
Trading Desk Type ECN/DMA Market Maker Market Maker
Trading InstrumentsCommodities, Forex, EquitiesCommodities, Cryptocurrencies, Forex, Indicies, Equities, FuturesCommodities, Forex
Forex Pairs1103826
Crypto Pairs25
Pros
  • Wide range of assets
  • Copy trading accounts
  • Well regulated
  • Wide range of assets
  • Good range of accounts
  • Fast and free withdrawals
Cons
  • Limited market analysis
  • Limited education
  • Wide spreads
  • Limited currency pairs
  • Not properly regulated
  • Expensive withdrawals
  • Limited education
  • Limited market analysis
  • Limited currency pairs
Read Full Review Read Full Review
Trust Rating 4 / 5 5 / 5 1 / 5
Trading Conditions 2 / 5 3.5 / 5 3.5 / 5
Trading Platforms 4 / 5 4 / 5 4 / 5
Deposit & Withdrawal 4 / 5 4 / 5 1 / 5
Education & Research 3 / 5 3.5 / 5 1.5 / 5
Assets Available 3.5 / 5 4.5 / 5 3.5 / 5
Customer Service 4 / 5 4 / 5 3.5 / 5
% Lose with this broker 62.8% of retail investor accounts lose money when trading CFDs with this provider 74% of retail investor accounts lose money when trading CFDs with this provider N/A
Leverage30:130:11000:1
Spread0.0 pips0.2 pips2.0 pips
Hedging No Yes Yes
Scalping No Yes Yes
Account Types
  • Islamic
  • Raw (Standard)
  • Standard (Professional)
Islamic Account Yes Yes Yes
Trading Platforms MT4 MT4 MT5, IKOFX
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, Unionpay, Broker to Broker Bank Transfer, Visa, Mastercard, Skrill, Neteller, WebMoney Bank Transfer, Visa, Mastercard
Trading Commission Fees Included in Spread 8 USD / lot - Raw Account Fees Included in Spread
Clear all brokers

InstaForex

Visit Website

HYCM

Visit Website

IKOFX

Visit Website
Overall Rating 3.42 / 5 4.09 / 5 2.62 / 5
Minimum DepositUSD 150USD 100USD 1
Regulation
CySEC CySEC
B.V.I FSC B.V.I FSC
CySEC CySEC
FCA FCA
DFSA DFSA
VFSC VFSC
Trading Desk Type ECN/DMA Market Maker Market Maker
Trading InstrumentsCommodities, Forex, EquitiesCommodities, Cryptocurrencies, Forex, Indicies, Equities, FuturesCommodities, Forex
Forex Pairs1103826
Crypto Pairs25
Pros
  • Wide range of assets
  • Copy trading accounts
  • Well regulated
  • Wide range of assets
  • Good range of accounts
  • Fast and free withdrawals
Cons
  • Limited market analysis
  • Limited education
  • Wide spreads
  • Limited currency pairs
  • Not properly regulated
  • Expensive withdrawals
  • Limited education
  • Limited market analysis
  • Limited currency pairs
Read Full Review Read Full Review
Trust Rating 4 / 5 5 / 5 1 / 5
Trading Conditions 2 / 5 3.5 / 5 3.5 / 5
Trading Platforms 4 / 5 4 / 5 4 / 5
Deposit & Withdrawal 4 / 5 4 / 5 1 / 5
Education & Research 3 / 5 3.5 / 5 1.5 / 5
Assets Available 3.5 / 5 4.5 / 5 3.5 / 5
Customer Service 4 / 5 4 / 5 3.5 / 5
% Lose with this broker 62.8% of retail investor accounts lose money when trading CFDs with this provider 74% of retail investor accounts lose money when trading CFDs with this provider N/A
Leverage30:130:11000:1
Spread0.0 pips0.2 pips2.0 pips
Hedging No Yes Yes
Scalping No Yes Yes
Account Types
  • Islamic
  • Raw (Standard)
  • Standard (Professional)
Islamic Account Yes Yes Yes
Trading Platforms MT4 MT4 MT5, IKOFX
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, Unionpay, Broker to Broker Bank Transfer, Visa, Mastercard, Skrill, Neteller, WebMoney Bank Transfer, Visa, Mastercard
Trading Commission Fees Included in Spread 8 USD / lot - Raw Account Fees Included in Spread

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