Instaforex Overview |
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Founded | 2007 |
Platform | Windows Metatrader 4, WebTrader, Android / iPhone and iPad Mobile App |
Minimum account size | $1 |
Minimum lot size | 0.01 |
Tradable assets | 300+ |
Maximum margin | 1:1000 |
Spread on EUR/USD | 0 pips |
Payment methods | Credit Cards, e-Payments, MegaTransfer, Skrill, Neteller, PayCo, Bank Wire, Bitcoin, Bank Cards, InstaForex Benecard, Neteller, China Union Pay, WeChat, Alipay, Paxum, Local Transfer, Boleto, BPay.md, Carta Bleue, Dankort, ePay.bg, EPS, GiroPay, iDeal, Nordea SOLO, POLi, PostePay, Przelewy24, Rapid, SOFORT, Trustly, Other Payment Systems |
Demo account | Yes |
Accepts US traders | No |
Regulated | CYSEC (Cyprus), FSP NZ (New Zealand), BVI FSC (British Virgin Islands) |
Support | Phone, E-mail, Live Chat, Telegram, Whatsapp, Twitter, Viber, Yahoo Messenger, Skype, ICQ, AOL IM |
Website | www.instaforex.com |
Pros
- Low minimum deposit requirement
- Up to 1:1000 leverage
- Informative resources such as InstaForex TV
- Wide variety of ways to contact support
Cons
- Doesn’t accept US traders
- Minimal trade is a little higher for Cent.Standard and Cent.Eurica accounts.
InstaForex was founded in 2007 and since the start of their operations they have been able to acquire more than 7,000,000 individual and corporate customers. They have prioritized the importance in providing a full range of services to their clients starting from registration up to the withdrawal process. Sounds very promising but are they able to deliver?
Platform
They rely on the popular MetaTrader 4 which is one of the most dynamic yet simplified trading platforms today. Aside from being able to execute deals on forex, there’s also an opportunity to receive quotations about the major currency pairs and global stock indexes including news updates and reviews that can be used for making technical analysis. Getting familiarized with the all the options is plain easy since there’s a demo account that features all the functions that are available in real market trading. This warrants InstaForex with a Platform score of 10/10.
Design
The comfortable interface of the platform is another advantage of this broker. They’ve done a great job with the design and layout which other brands are still struggling to emulate. It’s easy to determine what to click or where to find what you’re looking for and this is definitely a major plus because you won’t miss any trading opportunity that might come along the way. The sleek interface has a navigation system that is usable and easy to learn and for this we are giving them a Design score of 5/5.
Minimum Deposit
One of the biggest advantages of InstaForex over its competitors is that it is possible to have an active account with funds for as low as $1. They also offer different types of accounts (Insta.Standard, Insta.Eurica, Cent.Standard and Cent.Eurica) that are designed to meet the experience and trading styles of their clients while still providing free access to all the available features regardless of how much was deposited in the account. Such universality the reason for giving them a Minimum Deposit score of 5/5.
Minimum Lot Size
Depending on the type of account the minimum lot size is 0.01 for the Insta.Standard and Insta.Eurica account types while the Cent.Standard and Cent.Eurica accounts require 0.10 of the lot. These are ideal for those who would like to trade with a much smaller lot size since the risks are much lower and the opportunity to manage them is still open. This warrants a Minimum Trade Score of 4/5.
Tradable Assets
This broker has a very wide asset index that consists not only of a diverse range of currency pairs but also other asset types including Bitcoin. Currently they have more than 300 assets and such variety deserves a Tradable assets score of 4/5.
Payouts
Their spreads are no doubt competitive across all account types giving their clients much more convenient trading conditions. For the EUR/USD currency pair, the spread ranges from 0 to 3 pips for the Insta.Standard and Cent.Standard accounts while the Insta.Eurica and Cent.Eurica accounts have a spread of 0 pips. Overall, we are giving them a Payouts score of 7/10.
Withdrawal Time
On most payment methods, it takes around 1 to 7 working hours to process withdrawal requests and this has improved a lot compared to when we made a first review about this brokerage. Such improvement in handling withdrawals deserves a Withdrawal Time score of 10/10.
Deposit and Withdrawal Methods
Making deposits and withdrawals to the InstaForex account is possible via a plethora payment methods including credit cards, e-Payments, MegaTransfer, Skrill, Neteller, PayCo, Bank Wire, Bitcoin, Bank Cards, InstaForex Benecard, Neteller, China Union Pay, WeChat, Alipay, Paxum, Local Transfer, Boleto, BPay.md, Carta Bleue, Dankort, ePay.bg, EPS, GiroPay, iDeal, Nordea SOLO, POLi, PostePay, Przelewy24, Rapid, SOFORT, Trustly and other Payment Systems. In fact, we do not know of a broker that has such wide coverage and for this we are rating them a well-deserved Deposit and Withdrawal Methods score of 5/5.
Customer Support
There are plenty of ways to contact the customer support department and this includes toll-free numbers, e-mail, live chat, Twitter and popular messaging services like Telegram, Whatsapp, Twitter, Viber, Yahoo Messenger, Skype, ICQ and AOL IM. We had the chance to test out most of these channels and the discussion that we had with their agents were impressive. Such speed and straightforwardness deserve a Support score of 13/15.
Quoting Accuracy
The lack of slippage is another notable feature of this brokerage. This is a great benefit for traders especially when prices are rapidly changing in the market and you need to execute an order immediately. This will allow you to enter the market with the best available price thanks to the speedy execution of orders and this deserves a Quote Accuracy Score of 10/10.
Reputation
Currently, InstaForex is regulated by the Cyprus Securities and Exchange Commission (CySEC), the New Zealand Financial Service Provider and the British Virgin Islands Financial Services Commission. This gives you more assurance that they are monitored by trusted financial watchdogs. Aside from this, the majority of the comments that can be found from the online forex trading community were generally positive while the negative comments were isolated cases and most have already been resolved. Such credibility deserves a Reputation score of 18/20.
The great thing about InstaForex is that they are able to provide a range of options for all types of traders. The cutting-edge technologies, the competitive trading conditions and the extensive customer support are just some of the many advantages that they have over their competition while their status as a regulated investment company makes them even more reputable and reliable. Overall, they have what it takes to be one of the best in this market.
Final Score: 91/100
What I find great about this broker is that they only require $1 for a min account size and the fact that they are safe and secure because they are regulated.
It was great trading on this platform, made some good trades.
Yes and customer support is good as well
They do not accept all forms of payment options which is a pity
Customer support were lacking in politeness
Not enough assets to chose from for me
The low minimum account size is an advantage but other than that, the rest is of its features are just close to average. Just my two cents.
Instaforex is a regulated broker and have a very stable platform. When I started trading with them, I got more profit than what I have projected because I haven’t experienced any lags from their platform.
One of those few brokers who offers a very low minimum account size. You need not to worry how to breakdown your investment because your trading will cost you only a little amount.
You might experience few requotes at times with Instaforex but what is great about them is that you can easily contact their support,
I was well taken care of by some of the support staff from Instaforex, when I have issues with my trades and withdrawals.
There are variety of ways to reach them like Phone, E-mail, Live Chat, Yahoo Messenger, Skype, ICQ, MSN, AOL IM. So the chances of missing out on their call is very slight.
Is it now possible to trade bitcoins with instaforex platform? Do they have a separate platform for such trades?
I think that they have added bitcoins as one of the extra trading instruments in their lists, so it is possible now. The only discrepancy is how much the profit will be?
Like the forex, and stocks there are varying profit range for them. I just don’t know if that depends on your global location.
How is it possible to buy bitcoins thru instaforex?
Yes it is possible to buy bitcoins thru their platform. You may even use it as a deposit money into your account. You may also withdraw it and use it for your trades. So bitcoins are now handy and easier to use.
“If you need to buy, sell and exchange bitcoins you can use the InstaChange service”, it is what their site says about buying bitcoins. There are links to follow on how to do it.
How is it possible to carry off a luxury car like Lamborghini through instaforex? Do you know the mechanics? I just saw the banner in their home page, any help here?
Was it much easier to contact this broker through live chat or email?
I prefer making contact through live chat because of the instant reply but if I wasn’t able to get a reply at once, I made sure that I emailed them.
Email or not, I don’t think that it is probable to get an instant reply from this broker.
I tried a demo account with this broker and it looks so fine, do they offer the same leverage in the real money account?
The leverage offer from demo and real money is two different thing. You need to verify yourself which one you think is best suitable for you.
So it is okay to conclude that the leverage offer from ironfx are varying due to the uprising and downgrading value of stocks.
I agree with the uprising and downgrading of the value of stocks, nobody can dictate it except the laws of demands and supply.