InstaForex Review – Is InstaForex Scam or Satisfactory as a Broker?
InstaForex, which was established in 2007, has over 7 million users. Its headquarters are in Limassol, Cyprus, but people from all around the world use it to trade online. This broker prioritizes its clients and has a wide range of services to provide, along with one of the best market conditions among the market offering.
InstaForex consists of great developed technology for trading, is user-friendly, and has a wide range of instruments to choose from. This broker actively takes part in sponsorships and social events. It continues to operate through several licenses and also serves entities in offshore zones. Usually, offshore brokers are not recommended to trade with, but InstaForex is carefully regulated by Europe and its guidelines comply with safety measures.
InstaForex functions under strict rules and meets all the requirements. Some of the rules it follows include security and transparency. All clients’ funds are kept in segregated accounts. In addition, there are compensation schemes in case of insolvency.
Types of accounts
InstaForex offers quite a few trading account choices, Standard and Eurica. These accounts are available for all entities and the default platform here is MT4 and leverage is 1:200, along with USD as a basic currency. However, these conditions may vary depending on the entity’s regulatory obligations. A demo account is also offered and it is very easy to open. It is recommended you open a demo account at the beginning so you have time to get familiar with the features and options.
The fees at InstaForex are different for the two types of accounts. The spreads are fixed at 3 pips on a standard account, while in a Eurica account, there are zero spreads and costs are inbuilt into fixed commissions. Moreover, the European entity offers 3 more account options, ECN, ECN pro, and Scalping. The spreads on these accounts start at 0.8 pips. InstaForex has no deposit fee or withdrawal fee, but it does have an inactivity fee, which is low to average.
This broker provides its clients access to global markets like ECN through several trading instruments. These instruments include 107 currency pairs, commodities gold and silver, binary options, and more. InstaForex makes sure to update its trading list so its clients can be the first ones to trade.
Deposits and withdrawals
You can easily deposit money at InstaForex using common and popular ways like SoFort, PayCo, etc. There is no minimum deposit amount, which means you can even deposit $1, while most other brokers have a minimum deposit of $500. When it comes to withdrawal, the available options include Bank Wire Transfer and credit cards. InstaForex also covers some fees for money transfers.
InstaForex has user-friendly software and is available for use on the web, desktop, and mobile. The broker offers MT4 and MT5 platforms on web and was actually one of the first ones that offered the MT5 platform to its customers. You can monitor account activity and receive notifications.
The desktop platform is more advanced than the web platform. You can analyze markets, monitor instruments, and free VPS hosting to allow you to trade through any strategy. The mobile app for InstaForex is available for Android and iOS and supports several languages for more convenience.
A team is trained to answer clients’ questions and address their queries. This customer support staff is available 24 hours a day, 7 days a week, and provides quality customer service. To add, there are over 260 offices and centers for the support team here.
InstaForex has education centers designed by professionals which contain webinars, educational videos, and courses. This feature makes it easier for beginner traders to understand the basics of online trading and helps them feel more comfortable and familiar. Furthermore, there are research tools and materials that can be enjoyed by traders of higher rank and experience. There is also analysis provided every day about the situation of the market.
Overall, this is a broker that meets international laws and has prioritized its clients by providing a space suitable and enjoyable for traders of zero experience to professional traders.