InstaForex Review & Rating 2022
Read this InstaForex broker review before opening your account. Is this a Scam or Reliable Forex Broker? Find out more with AtoZ Markets InstaForex review.
Instant Trading EU LTD provides its services under InstaForex brand and operates the website InstaForex.eu. Instant Trading Ltd provides its services under InstaForex brand and operates the website InstaForex.com. Moreover, Instant Trading EU Ltd is based in Cyprus, licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC). This Forex broker offers 200+ trading instruments, including currency pairs, stocks, metals, commodities, and cryptocurrencies. Therefore, if you are curious about their offer, you may check the following review for details.
We have brought out an extensive InstaForex review and found it legit and recommendable. This broker provides maximum flexibility on deposit requirements for all traders.
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InstaForex is a successful and well-known brokerage brand that has been dominating online trading across the world since its establishment in 2007. This brand serves more than 7 million traders and claims to gain more than 500 new clients every day. InstaForex provides its clients with the opportunity to participate in the global markets, including Forex and CFDs on Futures, Commodities, Stocks, Indices, and Cryptocurrencies.
InstaForex is an international brand that unites several brokerage companies regulated in different jurisdictions. The citizens of the European Union are exclusively serviced by Instant Trading EU LTD regulated by the Cyprus Securities and Exchange Commission, the licence number 266/15. The company is headquartered in Limassol, Cyprus and operates through websites www.instaforex.eu and www.forexmart.eu.
Pros & Cons
Thinking of trading with this broker? This InstaForex review discusses the pros and cons of this company.
- More than 200+ trading instruments available to trade as CFDs
- The built-in ForexCopy ™ system for social trading
- It provides trading opportunities with the MT4 trading platform.
- Enormous educational resources are available.
- Demo account and swap-free account are both available on request.
- No offering of MT5 trading platform
InstaForex through Instant Trading EU ltd participates in the Investor Compensation Fund (CIF) as a part of EU regulation. Therefore accounts under www.InstaForex.eu are covered up to a maximum of €20,000. InstaForex is authorized by one tier-2 regulator and one tier-3 regulator
This InstaForex review shows that this broker provides its clients with the MetaTrader 4 (MT4) platform, the MT4 WebTrader platform the Multiterminal trading platform and Mobile Trader.
MT4 is a widely used trading platform and is very popular among traders. On the other hand, MT4 Multiterminal allows working with several InstaForex trading accounts at once. InstaForex also offers the below-mentioned features for its traders:
- 9-time frames
- Variety of tools for technical analysis
- Online financial market news
- Automated trading
- Locked positions
- Wide choice of free indicators and advisors
- Creating your own indicators and advisors (MQL4)
- High-security 128-bit encoding
- One-click trading
- Trailing stop
- Available in Android & iOS
By using web trader, traders can access their trading accounts directly through a web browser and can use most of the features of MT4 on this.
InstaForex is truly dedicated to accommodating every type of trader by offering 5 different account types.
Insta Standard Trading Account
This account type is relevant for standard trading terms on the Forex market and function without fees. Traders under this account pay a fixed spread.
Insta Standard account is suitable for all types of traders and allows a trade to be settled with a classical spread. The main advantage of this account is its universality. A trader can change the trading leverage within the applicable regulatory limits in each jurisdiction and work with a convenient deposit size. The features of the account support trading with Micro Forex with a minimum deposit of $1-10, Mini Forex with a minimum deposit of $100, and Standard Forex with a minimum deposit of $1000.
Insta Eurica Trading Account
The account of this type does not demand any spread to be paid while opening a trade but a commission is charged. For most currency instruments under Insta Eurica account type zero spreads are applied. The offered price runs higher than the BID price by half of the standard spread for a given trading instrument.
This account type is perfect for newbies as you don’t have to think about the spread in case of pending orders usage. A pending order executes when the price reaches its value. Insta Eurica accounts can also be used by professional traders because its trade characteristics are the same as of Insta Standard account type.
ECN Trading Account
There is no commission applied to ECN accounts. It provides access to all trading instruments, where traders pay a floating spread per every deal that is 1.2 pips on average.
ECN accounts are suitable for all traders and enable them to conduct deals with no commissions except the spread. The main advantage of this account is its flexibility. Traders can change the leverage at any time and deposit as much as they want.
ECN Trading Accounts is available with the following categories-
- Micro Forex mode with margin from 1 to 10 USD,
- Mini Forex mode with a margin from 100 USD
- Standard Forex mode with a margin from 1,000 USD.
The ECN account differs from Insta Standard and Insta Eurica by the execution type.
ECN Pro Trading Account
There is no commission for ECN Pro accounts. Traders pay a floating spread per every deal that is 0.8 pips on average. This account type is perfect for experienced traders as the minimum deposit required is 1,000 EUR.
This account is more convenient for mature traders who are used to working with big sums and minimal spreads. Similar to ECN accounts, ECN Pro differs from Insta Standard and Insta Eurica accounts by the execution type.
Scalping trading account
This account type has all the features of a standard ECN account, including market execution, commission-free trading, and floating spreads.
The scalping account suits the needs of those traders who employ the classic scalping strategy. This strategy implies the opening of short-term deals that are closed with a small profit.
InstaForex makes Cryptocurrency CFD trading simple, and user-friendly. The broker also provides technical analysis tools for all major Cryptocurrencies that assist traders in identifying a possible opportunity and become a more skillful trader.
Traders can trade CFD for Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash through the MT4 trading platform with leverage at 1:2.
Insta Standard and Insta Eurica both accounts have an unlimited minimum deposit. There are no fees for the Insta Standard account while the Insta Eurica accounts require 0.02%-0.07% commissions.
For ECN account the average spread is floating 1.2 and for ECN pro 0.8. For scalping trading, the spread is from 1.2 floatings.
Customer service is vital for every trader, hence this InstaForex review discusses this aspect of this broker. InstaForex does provide an in-depth video on demand (VOD) library to traders. Therefore the customer service is certainly satisfactory.
There are several options to connect with customer support staff by phone or email. Additionally, it is a very convenient and always popular way to contact them via live chat. Customer support staff are very helpful, polite and answer email within a couple of hours.
The customer support is out there 24 hours each day, Monday to Friday, from 7 am to 7 pm GMT.
Is InstaForex safe? Instant Trading EU LTD is fully licensed and controlled by the Cyprus Securities and Exchange Commission (CySEC).
To conclude this InstaForex review, we can say InstaForex in Cyprus is a reliable broker as it is licensed and authorized by the CySEC. The overall status and benefits make us consider InstaForex as one of our AtoZ Approved brokers. As for the trading conditions, spreads and commissions are also great.