InstaForex Review 2020
Founded in 2007, regulated and multi-award winning InstaForex are one of the largest online trading brokers. They offer a huge range of 300+ instruments with flexible accounts, platforms, trading tools and educational materials.
InstaForex Review 2020, Pros & Cons
- 300+ instruments
- Strict regulation
- Commission free accounts
- Free VPS
- Educational materials
- Pattern graphix
- ForexCopy system
- PAMM system
- No US clients
- Restricted leverage for EU clients
- Market maker
In this detailed InstaForex review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
InstaForex is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including InstaForex.
InstaForex Review: Summary
InstaForex was established in 2007 and provides industry leading online brokerage services to over 7,000,000 traders across the globe. They offer clients a staggering 300+ trading instruments in multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs.
InstaForex offer online trading through modern and powerful trading platforms with good execution speeds, variable or fixed spreads and competitive trading costs. Liquidity is provided by top tier banks such as J.P. Morgan, UBS, Barclays, HSBC, Morgan Stanley & Citibank. There are 9 trading servers for uninterrupted distribution of client orders. Account types are flexible with a variety of different funding options.
InstaForex have an in-house team of 30 expert analysis. They have 260 regional offices worldwide with 200 professionals working in the main offices and global support in 30 languages. Great focus is put towards clients, aiming to provide the same high standards of service to all levels of traders.
They have won more than 30 prestigious broker awards which emphasises the quality, selection and professionalism of their services. Awards have been won for the Best Broker in Asia, Best Broker in Eastern Europe, Best Retail Forex Broker, Best Broker in CIS and more.
The InstaForex PAMM accounts have over 10,000,000 invested in them and 100,000+ traders subscribe to their ForexCopy signals. The InstaForex club has over 100,000 members and there are 1,000 new client accounts opened on a daily basis. They sponsor sports stars and teams whilst they frequently run contests and campaigns for clients.
InstaForex have established partnerships with technology companies to provide innovative and effective trading solutions and applications to traders. This includes specialised software and payment systems, as well as providers of real time market quotes. They are constantly looking to implement the latest innovative technologies to further improve their services.
InstaForex Review: Regulation
The InstaForex group of related companies are registered and regulated in multiple offshore jurisdictions around the world. Regulated brokers must adhere to the highest standards of quality, working in accordance with the international laws and local standards of particular countries. Regulation helps to give potential clients peace of mind that they are using a trusted and reliable online broker.
Instant Trading Ltd is licensed by the British Virgin Islands Financial Services Commission (BVI).
Insta Service Ltd is registered with the St. Vincent and the Grenadines Financial Services Authority (SVGFSA).
Instant Trading EU Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC).
There are some restrictions if you open an account with the EU brand, including limited leverage of 1:30. This is due to the European Securities and Markets Authority (ESMA) who are a financial regulatory agency and European Supervisory Authority.
The markets in financial instruments directive (MiFID) is a regulation that increases the transparency across the European Union’s financial markets and standardizes the regulatory disclosures required for particular markets
InstaForex Review: Countries
InstaForex accepts clients from across the world, excluding the USA and some third-world countries due to strict regulations. Some InstaForex broker features and products mentioned within this InstaForex review may not be available to traders from specific countries due to legal restrictions.
InstaForex Review: Trading Platforms
InstaForex have a range of different platforms for clients to choose from to trade the global markets depending on their own unique needs and trading objectives.
Traders can use the powerful and widely used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. MetaTrader is freely available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). The mobile platforms are useful for those who need to trade whilst on the go. InstaForex also offer their very own web trading platform – WebIFX.
MT4 is the most popular trading platform that is offered by most online trading brokers. It was developed by Russian software company MetaQuotes and is known for its ease of use and built-in tools. MT4 is simple enough for beginners whilst having enough advanced functionality for the more experienced traders.
MT4 will display charts of all available trading instruments with real-time bid/ask price quotes. Charts can be loaded on 9 different timeframes from 1 minute to monthly. There are a variety of technical indicators for conducting detailed chart analysis. You can choose from multiple order/execution types and keep up to date with the latest market news.
MT4 also supports automated trading through the use of expert advisors (EAs). You can even create your own automated trading system or custom indicator in the MetaQuotes programming language (MQL) by using the built-in MetaEditor. There are a huge variety of custom indicators and EAs available to download online, including from the MQL online community.
InstaForex have a few extra add-ons for the MT4 platform including magic button and one click trading. The magic button simplifies the process of placing, managing and closing orders. One click trading increases efficiency and allows you to choose the same settings for every position.
MT4 is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).
MT5 is a more advanced version of MT4 with some additional features. MT5 allows you to trade more instruments and conduct more detailed chart analysis.
It has 21 timeframes compared to MT4’s 9 timeframes. There is depth of market level II pricing showing volumes and different bid/ask prices. It has 80+ technical indicators compared to MT4’s 50+. More order types are supported and the strategy tester supports back testing multi-currency automated strategies.
MT5 is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).
The WebIFX platform is unique to InstaForex. The main advantage of the web platform is that you can run it without needing to download or install any additional software. You can trade through most browsers from anywhere in the world with an internet connection. WebIFX maintains the same functions as a traditional desktop trading platform with the ability to open/manage/close positions and conduct chart analysis.
InstaForex Review: Trading Tools
InstaForex provide clients with some useful trading tools. These can be used to improve your own trading efficiency and to copy other traders.
The ForexCopy system enables you to copy the trading signals of other traders or provide signals for other traders to copy. There are thousands of traders to choose from with over 20+ criteria to filter for those who match your trading goals. Filters include total profit, balance, duration, instruments, followers, etc.
Once you have identified a potential signal provider, you can subscribe to automatically have their trades copied to your account. You can subscribe to multiple signals if you wish and can cancel a position or signal subscription at any time. It must be emphasised that past performance does not guarantee future results.
The PAMM system is for money managers who need to manage the funds of several investors and investors who wish to invest any amount into a managed account. The money manager charges a success fee whereas investors can benefit if the account makes profit.
InstaForex provides a PAMM monitoring tool where you can check statistics over a period of time and filter by a range of parameters to only display the accounts relevant to you. Past performance is by no means any guarantee for future performance.
InstaForex offer free to clients the pattern graphix plug-in for MT4 which displays the formation of graphical patterns on trading charts. You can choose which instruments, timeframes and technical analysis patterns you wish to scan for. This can be used to find potential trading opportunities or to assist with the management of open positions.
It can be set to send you instant sound and visual notifications once a pattern is found or there have been some changes. Notifications can be received within the platform, via email or mobile. Patterns include continuation patterns, reversal patterns, channels and lines. There are some useful tutorial videos on the website that explains how to use this tool.
Virtual Private Server (VPS)
InstaForex offer clients a virtual private server (VPS). A VPS allows you to run your trading platform 24/7 without needing your own computer switched on. The VPS includes windows and is always connected to the internet. This can be useful for those who have a poor internet connection at home or need to run an automated trading system all of the time.
You can order a VPS from the InstaForex client cabinet. There is a range to choose from with differing specifications (RAM, processor, disk space, cores, etc). The servers are located in Saint Petersburg, Russia.
The more you have in your account with InstaForex, the less the VPS will cost. If you maintain a balance over $5,000 then you can apply for a free VPS.
The online trading calculator allows you to easily and quickly calculate the value of a pip and margin required for a chosen currency pair.
The InstaForex economic calendar keeps you up to date with the latest market news releases. You can choose to display news by dates, country and importance. News importance is shown along with the previous reading, forecast and actual reading. You can subscribe to SMS alerts for specific news events relevant to you. This is useful as part of a fundamental analysis.
There is an official InstaForex toolbar that gives point-and-click access to the various sections of the official website, company’s news RSS feed, real time market quotes and social networking pages. The add-on is supported by most modern web browsers.
InstaForex Review: Education
InstaForex have a very vast array of detailed educational materials available to traders ranging from trading courses, videos and daily analysis.
InstaForex TV News
There is a TV section that is updated daily and has a very good variety of news, analytical materials and interviews. The videos cover latest events, trends, and many other aspects of trading.
InstaForex TV is managed by a large staff of analysts, camera operators, news casters, film editors and other specialists. The videos are freely available and can be useful to all levels of traders, helping viewers to stay up to date with latest market news and the impact it could have on various trading instruments.
InstaForex have an in-house team of 30 experts who analyse the markets on a daily basis and provide very detailed reports including write ups with annotated charts.
InstaForex offer a training course from their expert analysts that is targeted towards those new to trading and requires a minimum $100 deposit to gain access to. The course contains detailed information on a wide range of topics such as technical and fundamental analysis, trading platforms, trading psychology, money management, trading strategies and more.
The InstaForex website has a selection of training videos that cover most of the key aspects of trading. These tutorial videos can be very useful to help improve trading knowledge and skills with a range of topics covered including markets, platforms and analysis.
InstaForex have a mobile app that you can use to conveniently learn about trading and get an insight into the markets before trading. The educational app is available for download on both Android and iOS.
The glossary section contains some trading terms and explanations that are presented alphabetically for convenient accessibility.
Frequently Asked Questions
The FAQ section of the website has a vast range of commonly asked questions with comprehensive answers. Topics include general account questions, platform questions, trading tool questions, etc.
InstaForex Review: Trading Instruments
InstaForex offer clients an impressive 300+ trading instruments covering a range of markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs.
In addition to the minor, major and exotic currency pairs, there are instruments such as gold and silver as well as CFDs on indices S&P 500, Dow Jones Industrial Average, NASDAQ Composite, FTSE 100, Euronext 100, DAX 30, Nikkei 225, Hang Seng Index, US Dollar Index, Bitcoin and many other instruments.
The forex market is traditionally the buying and selling of currencies. When trading forex instruments you are speculating in the price increase or decrease of one currency against another, e.g. EURUSD. InstaForex offer a large selection of 110+ FX currency pairs to trade.
A contract for difference (CFD) allows traders to speculate on the fluctuating prices of an asset without actually physically owning it. InstaForex have a large selection of 90+ CFDS including gold, silver, crude oil, gas, major stock indices such as Dow Jones, DAX, NASDAQ, S&P and more.
CFDs on shares are contracts for difference where the underlying assets are shares in the world’s leading companies such as Apple, Amazon, Microsoft, Google and others. The shares are quoted on major exchanges and over-the-counter securities markets.
InstaForex CFD trading conditions include low margin requirements and commissions, flexible leverage up to 1:10, fixed spreads and the ability to hold positions for an indefinite period of time.
Cryptocurrency is an online digital currency based on complex mathematical algorithms. It is decentralised which makes it resistant to government interference or manipulation.
Traders can speculate on Bitcoin price fluctuations without buying the cryptocurrency. InstaForex offer Crypto trading based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple.
InstaForex Review: Trading Accounts & Fees
InstaForex offer cent and standard account in three currencies, USD, EUR and RUB. Each account has access to all instruments and differs by the spreads and commission fee. Demo accounts are available to test the different trading platforms and conditions before opening a real account should you wish to do so.
This account is targeted towards all types of trader and has higher spreads starting from 3 pips with no commission fee charged. The minimum deposit is just $1 for a micro account, $100 for a mini account and $1,000 for a standard account. Flexible leverage of up to 1:1000 is available with a minimum lot size of 0.01 and maximum 1000 lot size.
The eurica account spreads are tighter, starting from zero pips with commissions from 0.03%-0.07%. There is no limit on the minimum deposit. Flexible leverage of up to 1:1000 is available with a minimum lot size of 0.01 and maximum 1000 lot size.
This account is designed for new traders who are just learning to trade and would like to practice in a real trading environment with the minimal trading volume possible (0.1 US cents). The other conditions are the same as the normal standard account including higher spreads with no commission fee.
This account is designed for new traders who are just learning to trade and would like to practice in a real trading environment with the minimal trading volume possible (0.1 US cents). The other conditions are the same as the eurica standard account including spreads starting from zero pips and a 0.03%-0.07%. commission fee.
As broker fees can vary and change, there may be additional fees that are not listed in this InstaForex review. It is imperative to ensure that you check and understand all of the latest information before you open a InstaForex broker account for online trading.
InstaForex Review: Customer Service
InstaForex offer global support in 30 languages, 24 hours a day. They can be contacted via local telephone numbers in 9 countries, live chat and email. They are also reachable through popular apps including Telegram, WhatsApp and Skype.
InstaForex Review: Deposit & Withdrawal
InstaForex provide over 10 ways for clients to make account deposits and withdrawals. These methods include bank transfer, credit card and online payment processors. Clients must use the same currency and payment system for depositing and withdrawing.
Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear whilst some methods such as card payments can be instant. Some methods may only be available to specific countries.
Accounts can be opened in USD, EUR, RUB. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
InstaForex Review: Account Opening
There is a short online account opening form to complete on the InstaForex website. Following on from that, you will need to verify your email address and upload proof of identification (e.g. passport) and proof of address (e.g. utility bill). Once your documents have been verified by the accounts team you can fund your account and commence trading. Online support is available to help you during the registration process if need be.
InstaForex Review: Conclusion
The award winning InstaForex is one of the largest online trading brokers with a vast client base stretching across the globe. They have a wide selection of over 300+ trading instruments across multiple markets. In addition to flexible account conditions and trading platforms, they offer plenty of trading tools and educational material. Strict regulation helps to give clients peace of mind whilst the support team is very prompt and efficient.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 57.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.