InstaForex was founded in 2007 by InstaTrade Corporation, offering forex, CFDs, and binary options trading as a MetaTrader only broker. In total, 88 CFDs are offered alongside 107 currency pairs.
While not a factor in our review of InstaForex, the firm is known for its marketing sponsorships across various sports. Since its inception, InstaForex claims on its website that over seven million traders have opened accounts.
InstaForex Accounts Type
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).
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.
InstaForex 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.
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.
Other InstaForex Services
- 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)
- It provides a Client Cabinet to its traders where they can get financial information.
Despite being in business since 2007 and offering a website that is well designed and full of advertising sponsorships to suggest that InstaForex is a reputable, trustworthy forex broker, our research does not back up the broker’s claims.
InstaForex is minimally regulated and has yet to receive reputable operating licenses in Europe, for example from the FCA (UK). Regulation aside, InstaForex only provides its clients with the default MetaTrader experience, and despite offering its own video content through InstaForex TV, the providing research is weak compared to industry leaders.