InstaForex is a very famous and well-known name among Asian forex traders. Since 2007 they are serving over 3,000,000 of traders across the world. They have achieved over 38 awards in last 10 years. Late 2016 they have been awarded as BEST ECN BROKER 2016 ACCORDING TO EUROPEAN CEO AWARDs. Several years they have achieved Best Broker in Asia for their unbeatable service, promotions and products. InstaForex is an international well-known forex trading broker.
InstaForex was founded in 2007. They are Russian based ECN broker. They claimed on their website that they are serving over 3 million traders all over the world and receiving over 1000 registration per day.
Maybe they are right about this, because they offer only $1 to open a live account and to try their trading platforms.
Their work has been marked at international financial events such as ShowFX World, ShowFX Asia, CIOT EXPO, and Jordan EXPO exhibitions.
Ok! it’s time to dive into instaforex products, services and platform quality. Also, we will try to provide proper information regarding their good and bad side.
Types of InstaForex Trading Accounts
Insta offers 4 different types of trading accounts. Those accounts are designed to meet your needs. Each account has its own features and benefits. Types of accounts are:
Insta.Standard Trading Accounts
Standard accounts are designed for all types of traders to fulfill their trading needs. A trader can open a insta.standard account with min $1. Best part is as a trader you can change the leverage any time you want as per your needs. Spreads are fixed and starts from 3 pips and maximum leverage is 1:1000. insta standard accounts designed with 3 different sub accounts which are:
Micro Forex: Between $1 to $10 is the minimum requirement to sign up for the Micro Forex Account.
Mini Forex: You have to sign p and make a deposit of minimum $100 to be eligible for the mini forex account.
Standard Forex: deposit $1000 minimum and enjoy your trading. Standard account will allow you to trade on all products.
Insta.Eurica Trading Accounts
Spreads are not fixed, it is floating and starts from zero. Leverage 1:1 to 1:1000. Minimum $1 required to open a insta eurica trading account.
- Deposit $1 minimum and maximum $1000
- Leverage up to 1:1000
- Fixed spreads, starts from 3 pips
- Stop out level at 10%
- Margin call at 30%
Cent.Eurica trading accounts
- Floating spreads, starts from ZERO
- Maximum leverage 1:1000
- You can deposit minimum $1 and maximum $1000
- Stop out level at 10%
- Margin call at 30%
When I have seen that instaforex is offering unlimited demo trading account for the novice trader and those who wants to try their platform performance, service and products. Traders can open a fully functional demo account using the MetaTrader 4 platform which offers its services on 107 currency instruments, 34 U.S. stocks CFDs, futures CFDs, trades on gold and silver, and many others.
An explanatory video is available but is not very easy to understand the instructions given the heavy accent of the speaker.
InstaForex Products, Features and Platform
They offer over 100 currency pairs, 88 CFD’s including oil, silver and gold. Besides forex and CFD’s they offer option trading too.
Click to see the full list of InstaForex trading products
This broker also provides daily technical analysis, fundamental forecast, financial market news and many other important information which may help you to trade. But you have to know that, in order to access all these information, you must have log in access to instaforex client cabinet. Their professional financial analyst and news reporter will provide all news, technical analysis, fundamental forecast and upcoming market movement through their client cabinet.
By the way, do you know InstaForex provide trading signal too?
Yes, they send you daily trading signal and you can find out that from your client cabinet.
InstaForex analysis and trading indicators are customization according to your needs. All indicators are downloadable and you can set up them in your metatrader-4 or metatrader-5 platform.
Well I almost forgot to tell you that, InstaForex offers both mt4 and mt5 platform for their traders. Also, they have another platform called IFX Option Trade only for option trader.
The daily updated section of market analysis is prepared by the professional analysts of InstaForex Company. They also provide market signals that analyze and forecast price fluctuations. Each signal provides summary information, calculation formulas, and tips for practical use. The indicators are available to be downloaded and set up in MetaTrader 4 platform. Here is the downloadable list of indicators.
InstaForex has its own forex forum, where every trader goes and share their trading ideas and trading information. Besides trading ideas there is a section in the forum to upload new trading indicators and EA software’s for free or paid.
InstaForex PAMM system gives traders an opportunity to invest in Forex projects. Every customer of InstaForex Company can accept investments from other traders or invest funds in PAMM accounts and become a shareholder of this account.
And the ForexCopy system by InstaForex is an innovative service enabling traders to follow successful Forex traders and copy their trades online on a set ratio.
Education and training materials are prepared by professional instructors and trainers. They offer one to one live training, video tutorial, self-learning pdf’s and many more. Also, they have included FAQ’s with all the necessary information that a beginner trader might need. Through their educational videos, pdf’s and FAQ’s they have tried to explain almost everything in depth. Such as:
How to start forex trading?
What are the trading products and platforms?
What is the best time for forex trading?
Spreads, margins, commissions, online stocks exchanges. Besides everything else they have tried to explain trading indicators nicely. Which will help you to understand the nature of that specific indicator and how to use them.
How to read technical analysis and setup take profit and stop loss level in your trading platform based on that technical analysis report.
The Forex trading simulator enables users to watch quick replays of their trading and instantly receive information on whether their take profit or stop loss orders are activated. Alternatively, it allows them to see a slow-motion replay of trading close to every candlestick in order to optimize parameters.
InstaForex Bonuses and Promotional Trading Contest
They are the big boss on bonuses and promotions. Whole year they offer different types of attractive bonuses, promotions and contest for the new and old traders. Currently they are promoting 5 different bonus promotions and several contests for the new and old traders.
When we were writing review on instaforex, there were several bonuses being awarded to account holders.
Bonuses offered by InstaForex:
250% Deposit BONUS
Those who never opened an account or traded with InstaForex are eligible for this 250% deposit bonus. Only standard account holder traders will get this bonus. Leverage is 1:200 for the trade who wants to enjoy 250% deposit bonus. This bonus is not applicable for MetaTrader 5 traders. Only on your first deposit you will get this 250% bonus. Terms and conditions are applied.
To know more and apply for this bonus visit InstaForex Bonuses page
THE 100% LFC PARTNERSHIP BONUS
Liverpool FC is a famous and one of the big football club in United Kingdom. InstaForex become official sponsor and media partner of Liverpool FC. To celebrate this event, they are offering traders a special 100% bonus on their first deposit.
55% INSTAFOREX REDEPOSIT BONUS
On your every redeposit you will get 55% bonus. Bonus amount is unlimited. Only standard USD and EUR cent account holder is eligible for this bonus. Maximum leverage is 1:200 for the traders who want this bonus. Until 28th June, 2017 traders can apply for this bonus.
Read more Terms and conditions for this bonus promotion.
30% Welcome Bonus
This bonus is available for all new registered traders and their first deposit. On your every first deposit, you will receive 30% welcome deposit bonus from instaforex. Good thing is this bonus is applicable for all account types traders. You can open account with max 1:1000 leverage. Profit amount is withdrawable without any conditions.
Instaforex Club Card Bonus
Club Card Bonus is an additional bonus eligible for InstaForex club card holder traders. Up to 10% bous will be deposited into your account depending on your initial deposit amount. Leverage 1:1000 and stop out level 10%.
Chancy Deposit Bonus
Chancy Deposit Bonus is a unique raffle draw bonus offered by InstaForex. Every month Insta offered different rewards amount. This month they offered total $8000 rewards for the raffle draw winner. The amount of prize funds changes every month, so don’t miss your chance now.
TRADING CONTESTS BY INSTAFOREX
InstaForex regularly offer different interesting live or demo trading contest to prove your trading skill. Does not matter, whether you are a new in forex trading or experienced trader. You can join their running trading contest. At the time of writing this review, there are 12 demo and live contest is running. You can join in any contest you like.
One Million Option
It is a demo contest organized by InstaForex broker for the trader who has no experience of forex trading or never in forex trading, but interested to join and learn forex trading. All you have to sign up for a demo trading account and contact their support team to participate in the one million demo contest. By the way, it is a weekly demo contest. So, you can join every beginning of the week. For more information visit One Million Option Terms and Conditions page.
FX-1 Rally Contest
You have to sign up for a free demo trading account in order to participate in the FX-! Rally Contest. Every week InstaForex organized this demo contest for the new traders. The pool prize is $1500 for the FX-1 Rally Contest.
Miss Insta Asia 2017
Only females over 18 years old are eligible for this contest. It is a yearly Asian beauty contest organized by InstaForex. If you are already 18 years old then you can participate this contest. All you need to sign up to join the contest and follow the instructions. Total Pool prize is $45000, which will be distributed among 5 winners. Miss Insta Asia contest begins on October 1, 2016 and ends on October 1, 2017. During this time period, you can register any time you want. Visit Official website: miss-instaforex-asia.com.
Real Scalping Contest
Real Scalping is a monthly demo contest. The pool prize for this contest is $6000. If you want to participate in the next competition then you can register now. After registration, you will see your nick name on the contest list. Your demo account will be deposited with $20000 virtual money and you will have 1:500 leverage to enjoy your demo contest.
Lucky Trader Demo Contest
This is also a weekly demo trading contest. Every participant must open a new InstaForex demo account to join the Demo Contest.
InstaForex Sniper Weekly Demo Contest
Pool prize of this weekly demo contest is $1500. Which will be distributed among 5 contest winners. Every new or old trader can participate in this contest by opening a new demo account. If you have any questions concerning this contest or any other, send an email to the Contest and Campaign Administration: [email protected].
Trade Wise, Win Device Contest
You have to Trade Wise to Win Device, because it is a real trading contest. To participate you have open a real account and make e minimum $500 deposit. Competition duration is 2 months. Every end of the competition instaforex will publish the winners name by a raffle draw.
iPad, iPhone, Blackberry and Samsung Galaxy Tab, these four devices will be given to the winner as winning prize.
Find more details about this competition on instaforex website.
- Demo contest
- Contest started from march 13th ,2017 and will end in 20th October, 2017.
- There will be four round steps of the competition and the final
- Final round will start from 20th November, 2017 to 22nd December,2017.
Win BMW X6 from InstaForex
- Real trading competition
- Minimum $1500 needs to deposit, if you want to participate in this competition
- Competition will end in 29th December,2017
- Winner will get one stylish BMW X6
As I told you earlier that this broker is the king of competitions and bonuses. Whole year you will see various attractive competitions and bonuses offered by this renowned broker. This is why they have announced a live trading competition for one year long to win luxury sports car Lamborghini Huracan.
- Competition will be held between 26th December,2016 to 20th December,2017.
- You can register any time you wish.
- Minimum $1000 is required to participate.
- From 1:500 to 1:1000 leverage will be given to you as per your needs.
- Winner will be selected by a online raffle draw.
Insta Partners Program
InstaForex offers its partners various types of partnership program. Which are
- up to 5.3 pips from every client’s trade.
- Partner gets 0,2 pip commission from every deal of sub-partner`s clients.
- access to the affiliate statistics.
- 5 – 5.3 pips from each trade.
- consultation and support of InstaForex Partner Relations Department.
- 2 pip commission from every trade made by sub-partner`s.
- More you will refer, more commission you will earn.
Investment Projects Partner
- It is PAMM trading partner
- More investor you will introduce to instaforex, more commission you will earn.
- 5 to 5.3 pips maximum commission will be given, depending on traded currency.
- Commission is withdrawable any time you want.
If you have a website related to financial market then you can apply for this partners program.
- 5 – 5.3 pips from every trade – the biggest reward among all brokers;
- Comprehensive statistics of your affiliate link;
- Instant commission crediting to your affiliate account;
- Support of the Partnership Department specialists regarding all the aspects;
- Prospects of closer cooperation and higher remuneration for fruitful partnership;
- 2 pip commission from every trade of sub-partner`s.
There are few more partners program InstaForex offer for their customers. Which are:
- Educational Project partner
- Blogger partner
- Forex Signal Provider
- EA Seller Partnership
- CPA partners
Find details about these partners program.
How Reliable is InstaForex
InstaForex is not reliable, let me tell you why. They are in business more than 10 years, they have over 3000000 active trading accounts as they are claiming. But it is not good enough to trust them. Yes, it is true that they are always one step ahead for offering eye catchy bonuses and promotions. Why I do not suggest or encourage anyone to trade with InstaForex. There are hundreds of reasons.
- They are not regulated by any trusted regulation authority.
- Once upon a time they use to be regulated, but later due to their bad reputation and scam, they have been kicked out from those regulation.
- They will never give your profit and withdrawal on time.
- They born as market maker broker and still they are market maker.
- You may be impressed with the bonus and attractive promotions. But once you will win a competition they will not give your wining profit. You can check about their scam prof on Forex Peace Army (FPA)
We believe these 5 points are enough for you to change your wise decision not to open a live account and trade with this scam broker. But you can open a demo account to try their platform only.
See the proof of InstaForex scam at forex peace army: http://www.forexpeacearmy.com/forex-reviews/4257/www.instaforex.com
What Advantages you may enjoy with InstaForex
- Large Choice of Assets
- Fast deposit
- Many features
- Unlimited free Demo Account
- High Leverage
- Lowest fund deposit
Disadvantages of InstaForex
- Font is difficult to read
- Bad reputation
- Money maker broker, actually money sucker.
- Too much text and not organized. Competitions informatics are confusing.
- No regulation at all. Also, they have been kicked out and black listed by several regulatory authorities.
- Overabundance of material can be confusing
The payment system for depositing and withdrawal must be made using the same payment method.
InstaForex offer over 40 types of payment method to deposit and withdrawal your fund. Usually, these transactions can be made via credit cards, bank wire, InstaForex debit card, Skrill, MoneyBookers, Neteller and a host of other online payment plans.
Customers who filled their trading accounts by a credit card in dollars can withdraw amounts less than 300 USD via Skrill and over 300 USD via Bank Transfer.
Instaforex has wide range of local deposit and withdrawal option for their clients. If you are from India or Indonesia you cannot deposit fund via credit/debit card or any other method directly. To make this way easier, InstaForex setup local deposit procedure. Local deposit procedure is quite time killing. Means if you deposit now you will not get your fud into your trading account instantly. It may take 24hour to 48 hour, sometimes it may take more.
for multilingual customer support instaforex is famous. They provide over 15 different language customer support. Even they have many customer support and training offices in different countries. You can reach them for help 24/7 days by email, skype, telephone or live chat.
There are separate telephone numbers for the different departments. All the customer support numbers and emails are given below:
- Toll free in USA and Canada: 1-866-800-0719
- Toll free in UK: 0-800-051-8899
- Toll free in Switzerland: 0-800-898-548
- Toll free in Malaysia: 1-800-882-528
- Toll free in Indonesia: 001-803-017-9108
- Toll free in Georgia: 822-140-799
- Toll free in Kazakhstan: 8-800-080-5553
- Toll free in Bulgaria: 0-800-800-04
- Toll free in Ukraine: 0-800-500-329
For Technical Support
- ICQ: 350070300 or 412795787 or 424653476
- Skype support or ifx.support
- Phone: +7 (499) 7042344
- WhatsApp/Viber/Telegram: +79150768811
Insta Forex Finance Department
- Email: [email protected]
- ICQ: 462905200 or 599259297
- Viber / WhatsApp / Telegram: +79150768181
- Phone: +7 (499) 7042347
Insta Partner Relations Department
- Email: [email protected]
- Skype:partners or IFX.partners_consultant
- WhatsApp / Viber: +79150768118
- Hangout: [email protected]
- Phone: +7 (499) 7097073
InstaForex is made a name for itself over the last ten years and continues to lead the pack in choices and features. The website has so much information that I found myself finding new information each time I opened a page and this could be somewhat confusing for new traders. Despite not having any regulation, the choice of accounts and various platforms make this broker a great pick for both beginners and experienced Forex traders.