InstaForex is an international Forex Broker that accepts traders from all over the world. The company was founded in 2007 in Russia and offers different leveraged financial products for retail traders. It is very easy to sign up for an account with them and start trading. With them, you can trade on any device and invest in falling and rising markets.
Facts about InstaForex Brand:
- International company which grows very fast
- Accept international traders and EU Traders
- Founded in 2007
- More than 260 representative offices
- Sponsorships and more than 30 awards
The company is presented as a big brand which got more than 260 offices around the world. Also, there are sponsorships of well-known sports artists. InstaForex is international and in Europe fully regulated by finance authorities.
InstaForex Trading Platform
While many online brokers and services offer their own proprietary version of trading platforms, InstaForex has gone the old school route by only offering MetaTrader 4 as their platform of choice. The MetaTrader 4 download is quick and simple however. Besides, InstaForex provides its self-developed plugins such as One Click Trading and Superior Forex Desk.
For traders who enjoy the style, infrastructure and familiarity of MT4, the fact that InstaForex uses this platform could be a significant bonus. There is also the Client Cabinet that adds some flexibility. As a well-invested, carefully designed and robust trading system, MT4 does practically everything a trader could want.
As the name of the brand suggests, InstaForex primarily acts as a forex broker, with a wide selection of different assets on offer to compliment the forex products. Currently, the platform has over 100 different currency pairs available to traders, allowing for full and comprehensive diversion of portfolios for traders. What is more, the broker treats its customers to an even wider range of instruments, giving access to trading stocks, commodities, indices and cryptocurrencies in a form of contracts for difference (CFDs)
Spreads & Commission
As with the vast majority of online broker services, InstaForex utilises spreads and commissions for their platform, which vary according to the specific account you hold. To find out more about the account structure of InstaForex in detail, read the Account Types section below for a full overview. In basic terms, the platform offers two distinct account types: Standard and Eurica. The main difference between these accounts is the method: Standard accounts use fixed spreads starting from 2 pips, while Eurica accounts use fixed commissions starting from 0.02%.
Other account types like ECN, ECN Pro and Scalping accounts are offered to EU customers, which keep a floating spread of 0.8 or 1.2 pips. Realistically, for the majority of traders starting out it makes more sense to go on commission as opposed to spread, to ensure the best possible outcome and fewer fees. But with so much choice and so many options, it’s easy to find a solution that works for you.
As InstaForex only supports trading through the well-established MT4 system, traders gain all the benefits of such a mature and well-developed platform – including the ability to access their trades from a mobile device. InstaForex customers can trade on their mobile devices on the MobileTrader app, available on Google Play and iOS App Store.
Additionally, InstaForex offers Forex Portal App providing live quotes, analysis, trading signals and other useful information, as well as the Forex Courses App that can come handy for beginners. Compared to some desktop-only platforms, InstaForex is relatively well established with the list of different tools and functionalities it offers to mobile users.
InstaForex offers a great variety of methods for deposits and withdrawals, designed to provide their traders with something that works for just about anyone, anywhere in the world.
All the deposits are commission-free while fees for withdrawals can be charged by the payment processing system. The available payment methods include:
- Bank cards
- Bank wire transfers
- Bitcoin via Skrill
All payments are processed within the nearest working day. With such a wide selection of payment methods on offer, there’s something to suit traders from all over the world.
Regulation and Security
Instant Trading EU LTD, the owner, and operator of InstaForex EU is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 266/15. The license was granted on January 13th, 2015. Cross-border regulation across all EU member countries applies as Cyprus is inside the EU. As an EU regulated broker, InstaForex EU is fully compliant with the Markets in Financial Instruments Directive 2014/65/EU or MiFID II as well as the EU’s 4th Anti-Money Laundering Directive.
As mandated by EU regulation, InstaForex EU participates in the Investor Compensation Fund (CIF). In the event of default, accounts are covered up to a maximum of €20,000. This is sufficient to cover most if not all retail accounts. All deposits are held in segregated bank accounts according to regulatory guidelines for the protection of clients. All required documents and disclosures are listed on their website. From a regulatory perspective, InstaForex EU ticks all the boxes.
Five account types are available at InstaForex EU, but trading conditions appear out-of-order. The Insta.Standard account involves a fixed spread between 2.0 pips and 7.0 pips, trading costs are too high in this account type. No minimum deposit is required for this account. The ECN and the Scalping account carry an average floating spread of 1.2 pips and remain commission-free, but a minimum deposit of $100 applies. While the minimum deposits remain extremely low, neither of those three account types creates a great trading environment.
The exception remains the Insta.Eurica account, marketed as ideal for new traders and offered as an option for professional traders. The spread of 0.0 pips on major and minor currency pairs with a low commission between 0.02% to 0.07% of the deal value produces the best trading account available. It remains the sole option offering an extremely competitive trading environment and no minimum deposit is required.
The ECN Pro account contains average spreads noted as 0.8 pips, and there is no commission charged. This counters the traditional ECN model where raw spreads are offered for a commission. In the case of InstaForex EU, the Insta.Eurica account resembles a true ECN account structure. Broadly speaking, the implementation of trading conditions is surprisingly confusing if compared to what the industry standard resembles. InstaForex EU additionally changed the standard lot classification as 1.0 lot resembles only 10,000 units and not 100,000 units as with other brokerages. The maximum leverage for all traders is capped at 1:30 as stipulated by its regulator. Islamic accounts are available on request.
Research & Education
When it comes to market research, InstaForex provides a mixed offering. Highlights include InstaForex’s daily market analysis blog posts, technical analysis posts via MT5, and InstaForex TV, InstaForex’s video offering, which, on average, produces four to six forex news videos each day. Interviews, weekly reviews, and other educational videos are also available.
The primary drawback to InstaForex’s research offering is its lack of third-party research tools and services. Research aside, education primarily includes videos, a glossary, and a variety of very basic articles (text only) on forex trading. If there is one feature we’d like to see InstaForex add, it’d be a regular webinars schedule and the ability to view previous webinars on demand.
InstaForex has created two categories of trading accounts to see to it that the clients can make a meaningful trade. The accounts are segmented according to the method of commissions and accounting spreads.
Insta.Standard Trading Accounts
- These types of accounts are focused on standard trading terms set, and the following are its elements.
- Trading terms are standard.
- Charges are not required
- A fixed spread is paid once a trader gets to work with all trading instruments.
- All categories of traders can work with it.
- Traders can change the trading leverage
- Micro Forex trade which is a minimum deposit of 1$-10$)
- Mini Forex that is, minimum deposit $100)
- Standard Forex ($10000)
Insta.Eurica Trading Accounts
- Below are the characteristics of this type of trading account
- Spread is not required to be paid during the opening of a trade
- Zero spreads are applied
- Best for newbies
- This account does not need any spread to be paid during a trade opening. For most
Cent. Standard and Cent.Eurica trading accounts
- Minimum trade volume is allowed
- Micro Forex which has lot volume of 0.0001
- No risk for deposits
Opening an Account
Opening an account with InstaForex is simple, fast, and easy. All a trader must do is provide their name, email address, and telephone number. They will then be emailed further instructions to complete the registration of their account. The minimum deposit to open an account is only $1 for all types of accounts, and this is very low compared with most other online trading brokerages. To gain access to all the tools and features InstaForex has to offer, traders must verify their accounts. Until a users account is verified, they only have access to 60% of the opportunities InstaForex presents.
Should I Trade with InstaForex?
InstaForex is an amazing online trading brokerage for nearly every type of trader. So yes, we believe that everybody should give InstaForex a try. The brokerage offers an extensive range of tradeable assets and numerous trading platforms to choose from. As well, InstaForex has various account types to suit your trading needs and favorable commissions and spreads. When choosing to trade with InstaForex, you can’t go wrong.