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InstaForex Review 2021 – Top Findings
InstaForex Review 2021 Overview
InstaForex Review: Online Broker is a product of the InstaForex Group, which was founded in 2007 and gained huge popularity through good services. It currently has over seven million customers worldwide and is one of the leading financial market brokers in Europe. InstaForex has received international recognition for its diversity in trading tools, account types. InstaForex gives retail traders access to the global currency market, offering 300+ financial instruments including currency pairs, stocks, metals, commodities, and cryptocurrencies. It also features a copy trading system and binary options trading. (Keep in mind, however, that binary options are the riskiest trading system, and it is not a 100% Shariya-compliant trading system for Muslim traders.)
One of the differences between InstaForex and other Forex brokers is that InstaForex calculates 10,000 currency units as a standard lot, while other brokers calculate 100,000 currency units as a standard lot.
They employed more than 30 market analysts who provide regular market updates and a handful of educational resources and research tools, through which they help traders to become experts in the financial markets. It is an ECN broker so there is no minimum deposit requirement. But one of the major drawbacks is its trading costs, which are relatively high compared to the industry average.
They have a long-term good reputation in the worldwide trading community, and already won more than 30 industry awards including “The Best Forex Broker Eastern Europe 2019″ And “Most Active Broker in Asia 2020”.
In today’s review, we are going to bring all the features of InstaForex broker offerings, and their safety, and share all the important information about this broker, which will help a trader to choose the right broker.
InstaForex Review: Top Key Points
Founded in 2007, 18 years of Market Experience
300+ Assets in Five Different classes
Awesome Features like copy trading, options trading, and more.
High Leverage 1:1000
EU part is regulated by CySEC (Cyprus Securities and Exchange Commission)
InstaForex Features
InstaForex Review: Security & Licenses
InstaForex brand is regulated in multiple jurisdictions worldwide.
Instant Trading Ltd, the owner, and operator of InstaForex is licensed and regulated by the FSC (Financial Services Commission) under license number IBC22945.
And the European part of InstaForex works under Instant Trading EU LTD. In the event of default, accounts are covered up to a maximum of €20,000 compensation, this would be sufficient enough to cover most if not all retail accounts. Traders’ money kept in segregated bank accounts according to regulatory guidelines for the protection of clients.
- Instant Trading Ltd (BVI) is licensed by BVI FSC, License Number SIBA/L/14/1082
- InstaVector Ltd (Russia) is licensed by Central Bank, License number 039-11737-100000
- Insta Service Ltd is registered with FSC Saint Vincent, Reg. Number IBC22945
- Insta Global Ltd. registered in Saint Vincent, IBC24321
- Services are provided under the 0000InstaForex brand which is a registered trademark.
Europe part of InstaForex is licensed by CySEC. INSTANT TRADING EU LTD is Cyprus Investment Firm (HE266937) regulated by the Cyprus Securities and Exchange Commission, license number 266/15. So As an EU regulated broker, it is fully compliant with the EU’s 4th Anti-Money Laundering Directive.
INSTANT TRADING EU LTD is providing investment services under the InstaForex brand and operates www.instaforex.eu website.
Are they safe?
Client money, including cash, margin, and unrealized gains, are kept in distinct client money accounts * at reputable banks and are clearly separated from InstaForex’s own funds. They don’t lodge retail client money towards margins with their hedging counterparties.
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Commissions and Fees
Fees in forex trading fees are generally of two types. One is a Trading fee and a Non-Trading fee.
- A trading fee is charged every time when you open a position. Training fees include spreads, commission fees, swaps, and currency conversion fees.
- Non-trading fees include deposit and withdrawal fees, and inactivity fees.
InstaForex Review 2021Trading fees
InstaForex’s main source of income spreads, InstaForex is very competitive in every other sector, but one major drawback is spread, spreads are a bit higher than their other competitors. For a standard account, the spread is 2 pips to 7 pips, but in the case of ECN Pro, the spread starts from 0.8 pips. Eurica accounts types hold a competitive fees structure where it charges only 0.03 to 0.07% per trade. 1.2 pips charge for other accounts CFD and 0.1% commission for cryptocurrency trading.
Overnight Fees
InstaForex’s overnight fee structure is pretty much competitive industry average, overnight fees depend on many factors, such as which instrument is traded, buy or sell trade, and more.
Deposit fees
In case of depositing funds, InstaForex does not charge any fees, but if the payment method charges any fees InstaForex won’t cover that fee, traders have to bear it. However, most brokers are cover any kind of deposit fee, for example, XM will cover all the fees which you paid while making a deposit.
Withdrawal fees
In case of withdrawal, InstaForex charges a high fee, you will need to pay a 1.5% system fee and a $ 0.30 withdrawal fee while withdrawing from the personal account.
And in the case of a business account, you have to pay a 2.5% system fee and a $0.30 withdrawal fee.
For example, if you withdraw $1000 from your business account you have to pay a $25 system fee and a $0.03 withdrawal fee.
Attention: No fees for Deposit and Withdrawal also spread is highly competitive in the XM broker. Read our detailed review about the XM broker. Click Here.
Non – trading fees
Yes, Instaforex charges inactivity fees. If an account has no trading activities for a continuous period of one year, a monthly inactivity charge of $10 will be deducted.
There is no charge, if:
- The account is closed.
- Trading activity recommences on the account.
- The balance reduced to zero.
What is the minimum deposit in InstaForex?
InstaForex is a Market Maker model broker, so they can offer a really low minimum deposit amount (there are no minimum requirements). But the broker recommends depositing at least 200 GBP or equivalent in order to cover trading costs, etc.z
PROS:
- No fees for deposits (some payment methods does charge fees)
- Fast digital deposits, including Credit Card, Debit Card and Wire transfer
- No minimum deposit requirement
CONS:
- Don’t cover fees by payment gateways
- Higher withdrawal cost
InstaForex Review: Account Types
InstaForex offers two main types of trading accounts, Insta.Standard trading account and Insta.Eurika trading account. And both account types support cent accounts.
Insta.Standard and Cent.Standard trading account
This type of account does not require any trading fees, a fixed spread is given, but the spread is very high, 3 to 7 pips. Which is double that of other competitor brokers. Neither of those account types is creating a great trading environment.
Insta.Eurika & Cent.Eurica trading account
In terms of the Eurika trading account, it ca/n be said to be the best among their offers. It is suitable for new and professional traders. Because Eurika account has spread 0.0 pips and 0.02% to 0.07% commission fee. And there are no minimum deposit requirements. Because InstaForex is a market maker broker, they can offer the lowest minimum deposit.
ECN PRO accounts only available to EU clients.
Please note, InstaForex 1 calculates 10,000 currency units as standard lots, whereas other brokers calculate 100,000 currency units. So the minimum trade volume in a standard account is 0.10 lot, where 1 pip = $ 0.10 and if you trade 1 standard lot then 1 pip = $ 1. And in cent accounts, you can as low as 0.0001 lot. If you are a newbie and you want to test your trading strategy then cent accounts would be a better option for you.
Different account types features and costs
InstaForex Review: Islamic accounts
InstaForex supports Islamic accounts/swap-free accounts, you can tick mark while opening your account. In Islamic faith, riba is completely forbidden, and InstaForex seems well aware of it and accounts are compliant with Sharia-law.
back to menu ↑ back to menu ↑InstaForex Review: Demo Account
InstaForex offers a powerful demo account that allows you to have the same experience as real trading using virtual currencies. If you are new to Forex trading, we suggest you to use a demo account first. So before you start with real money you can practice your trading strategy and skill yourself. Top of that, InstaForex also supports cent accounts, using a cent account you can trade very small lots (as low as 0.0001). through a cent account, you can have a real trading experience using real currency.
back to menu ↑ back to menu ↑Trading Instrument
As its name suggests, InstaForex primarily a Forex broker. When it comes to Forex InstaForex outperforms most brokers, InstaForex gives access to 110 currency pairs which allows pure Forex traders to properly diversify their portfolios.
Stocks
Stocks are available at InstaForex as CFDs. And 69 stock available, notably Apple, Adobe, Amazon, and many other large companies. In the case of stock trading, the fixed spread is 3 pips and the fee is 0.1%.
Indices
Indices are available at InstaForex as CFDs. Most of the major indices are available at InstaForex market included including do Jones Nasdaq 100, DAX 30, Australia 200 Indesk.
Metals
Only 4 metals are available on InstaForex gold, silver, (gold 500 oz), and palladium.
Commodities
Commodities are available in InstaForex in the form of CFDs. Offering high-quality service with stability and reliability. Currently, comedies are offered in InstaForex is energies, metals, architecture, and goods. However, we are experiencing a shortage of soft and hard commodities in the Commodity section, hopefully, in the near future, they will add more new Commodities to their offering list.
Cryptocurrencies
Cryptocurrency can be traded in Instaforex in form of CFDs. InstaForex supports only 5 major cryptocurrencies, including Bitcoin, Bitcoin Cash, Etherium, and Light Coin. In the case of cryptocurrency trading, you have to pay a 0.1% fee, and a swap fee a -10% fee. However, there is a separate spread fee for each cryptocurrency. Below is a list of spread fees:
| Cryptocurrency | Spread |
|---|---|
| Bitcoin | 12000 |
| Bitcoin Cash | 200 |
| Etherium | 400 |
| Litecoin | 70 |
| Ripple | 50 |
Platforms and Tools
InstaForex offers a proprietary trading platform for mobile and iPad devices & Metatrader 4 platform is available across all devices. For faster execution, InstaForex has its proprietary system with 9 different servers across the globe.
MetaTrader 4
Metatrader 4 platform is available across all devices, so you can access your trading account from your computer and mobile devices. InstaForex does not provide the required third-party plugins, they must provide them to be the best in the market. Instaforex does provide its ForexDesk plugin but this is not enough, they should provide more tools to offer a truly outstanding product. It would be appreciated if they take additional steps to provide third-party tools for its traders to enhance trading performance.
Webtrader
Instaforex webtrader platform powered by Google tradingview, charting system same as Google tradingview.com, you can analyze chart in full screen, everything is similar but limited indicators. For technical analysis purpose you can use as many indicators as you want in a single chart.
back to menu ↑ back to menu ↑Mobile Trading (Proprietary Platform)
InstaForex offers a proprietary mobile trading platform that allows you to trade on the go, you can use it on your iPhone Android, or iPad devices. It supports all kinds of trades, including pending ones, 9 different time frames 1 minute to 1 month. The mobile app also allows you to access market updates, company news. In app-store they have only 2.1 ratings out of 5 and in play store only 3.6 ratings out of 5. Instaforex should improve the user experience in mobile devices.
back to menu ↑ back to menu ↑Research and Education
InstaForex has a solid foundation for the market research and education section. They have 30 analysts who cover market updates with Analytical Reviews, Economic calendar, World holidays calendar, Forex news. Educating traders by providing an online course, video tutorials, and written content.
Most people will agree that InstaForex has done a great job with the research tools and market analysis section. InstaForex provides research tools for all experience levels beginner to expert. the be dedicated section for its research tools where it can find market overall in terms of short reviews. news in pictures looks like a blog. Video analysis and economic calendar and also a traders calculator are available. Instaforex TV also provides great resources for all kinds of traders.
back to menu ↑ back to menu ↑InstaForex Review : Customer Support
In order to reach customer support traders can use call back options in multiple media like phone calls, Skype, Viber, Telegram, WhatsApp or QQ. And multilingual live chat support is also available 24/7. But our live chat support experience was not the best. Typically it takes around 2 minutes to get a reply. It’s much slower than other competitor brokers.
There is also a FAQ option available with common question and answers, if you face any problem with something, then you can simply search it on FAQ option first, if you don’t find solution then you can contact customer support directly.
back to menu ↑ back to menu ↑InstaForex Review: Our Verdict
After carefully review InstaForex we found some useful features for our trading community, so we are happy to recommend this broker to any trader. Overall InstaForex has more than 18 years of market experience and serving over 7 million traders worldwide. offering almost 300 trading instruments, including 110 currency pairs, alongside a minimum $1 deposit.
Note: InstaForex contains the higher cost of trading than industries average, low-cost leaders still remains XM or IG broker.
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