Introduction or Skip Content and Read the Bottom Line!
InstaForex started its operations in 2007 and currently has over 7 million traders. That’s quite a lot but are they really that good? This review will answer that.
Be sure to read the result of our comprehensive test to know more details if this broker has the features you are looking for.
|Platform||MetaTrader 4, MetaTrader 5, Multiterminal, WebTrader, InstaTick Trader|
|Minimum account size||$1|
|Minimum lot size||0.01|
|Spread on EUR/USD||0 pips|
|Payment methods||Bank Card, Bank Wire, Online Banking, PayCo, Bitcoin, Litecoin, Tether, Local Transfers|
|Accepts US traders||No|
|Regulated||BVI FSC (British Virgin Islands)|
|Support||Phone, Email, Live Chat, Skype, Viber, Telegram, WhatsApp, QQ|
You only need to provide your email address and the choice of opening an individual or company account during the initial phase of the registration.
The entire process comes in 3 phases but it really won’t take a lot of time.
If you want to sign-up with now with InstaForex, we can take you directly to their registration page. All you have to do is click on the button below to get started:
Account Types 10/10
As of this writing, the following account types are available on InstaFlorex:
Each account type has its own features so read the fine details before selecting one.
Demo Account 10/10
Want to test InstaForex but don’t want to risk your money? Then the demo is the best tool to use. You’ll get to experience real live market prices and get access to the same features all in practice mode.
The virtual fund is $5000 but we think that’s quite enough for a test drive.
Payment Methods 10/10
Deposits are possible via credit/debit cards, bank wire, PayCo, local transfers, and even cryptocurrencies including Bitcoin, Litecoin and Tether.
Minimum Deposit 10/10
Among the top advantages of InstaForex is that you can fund your account with just $1 no matter what your account type is. That gives you more flexibility to manage your capital since you won’t need to meet a high minimum deposit requirement just to trade.
The suite of platforms offered by this broker is also another plus. There’s MetaTrader 4 and 5, their proprietary WebTrader and also the InstaTick Trader. InstaTick is quite a unique one and is created for tick trading.
So how do you trade via the InstaForex platform? For example, Bitcoin?
Here’s a short animation that shows how you do it in action via their WebTrader platform:
Tradable Assets 9/10
300+ instruments are available on their platform. It’s not as many if you compare it to eToro or Plus500 which both offer more than 2000 choices but InstaForex made up for it by including only the most popular assets.
Minimum Lot Size 10/10
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 which is equivalent of 0.0001 market 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.
Trading micro lots is recommended for beginners and the smaller the lot size being traded, the lower the profits and losses as well.
Also take note that this would depend on your risk management strategy so it would be best to find the right balance and understand the risks that you can take on so if you’re a newbie, it’s generally ideal to take a lower risk level.
The spreads on InstaForex are either fixed or floating and this will be dependent on where you are located or the type of account you’re subscribed to.
The Eurica account uses fixed spreads that can even reach 0 pips. EU clients can subscribe to the ECN Pro which has an average spread of 0.8 pips.
Quotes Accuracy 10/10
We haven’t experienced any significant requotes when we tested their platforms. In most cases, the prices are accurate and are synchronized with what we see on other data providers.
Withdrawal Time 10/10
The withdrawal processing time will depend on the payment method you will use. For example, it may take 1 to 6 working days if it will be sent your credit or debit card. If it’s crypto like Bitcoin or Litecoin, it might just take around 1 to 7 hours. It’s even faster with Tether at 3 hours!
Customer Support 9/10
There are many ways to contact their support team. You can do the traditional method by dialing their phone number or you can go digital by sending them an email or using the live chat. In addition, they also provide support via their Facebook and Twitter social media accounts. Instant messaging is also another option. They are reachable via WhatsApp, Skype, Telegram, Viber and QQ.
Such speed and straightforwardness deserve a high score for this category.
Regulation and License 10/10
InstaForex is regulated by the Financial Services Commission (FSC).
With more than 7 million clients and having won several awards, it goes to show that InstaForex is credible.
InstaForex is definitely not a scam based on the fact that they already have millions of customers and have been recognized by various award-giving bodies in the online trading industry.
But aside from that, they have a good selection of user-friendly platforms where you can invest on over 300 assets. The opportunity to contact their customer service team via instant messaging apps also makes it a lot more convenient to get client assistance.
So if you’re wondering if it’s ideal to trade with InstaForex then our answer to that is a loud YES!