InstaForex Review
1.4 (28.8%) 25 votes

InstaForex Review

Trading Accounts

Account type Min./Max. deposit Minimum trade size Maximum Leverage Spreads (Commission)
Insta Standard $1 0.01 1:1000 Fixed 3 pips
Insta Eurica $1 0.01 1:1000 0 pips + 0.03% / 3 pips
Cent Standard $1 / $1000 0.0001 1:1000 Fixed 3 pips
Cent Eurica $1 / $1000 0.0001 1:1000 0 pips + 0.03% / 3 pips

With InstaForex, clients have 4 account types to choose from. These four account types can be divided into two categories – Standard and Eurica. By depositing just $1 and with a leverage of up to 1:1000, an annual interest of 5% (accrued each month on the last day) and the Cent and Micro account option (with a minimum trade size of 0.0001), all accounts types can be accessed.
Eurica accounts are unusual and differ from standard accounts because they offer Forex trading without spreads while standard accounts which are commission-free offer fixed spreads. However, a commission of 0.03% (equal to a 3-pip spread) applies to all Eurica account trades, InstaForex also provides Islamic (Swap-free Account) services and PAMM account services – a tool used for collective investing in investment service-related projects. With InstaForex, clients can become a share owner in someone else’s account by investing their funds in the other person’s account.

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The Company. Security of Funds

Company Country Regulation
Fix Trade Russia CBR
Insta Service Ltd SVG N/A

InstaForex is a subsidiary of InstaForex Group which is an MM forex broker registered and headquartered in Russia. Since 2007, InstaForex started providing online trading services in 2007.

With 107 currency pairs, futures, 88 CFDs on US stocks, Bitcoin on both MegaQuotes’ platforms, gold and silver and options trading (by using the InstaForex Option trade), this broker boasts of an impressive product portfolio.
InstaForex acquired a license with the Russia’s financial mega-regulator, the Central Bank of Russia (CBR) in 2017. The CBR oversees banking and other financial markets in Russia. By January 1st, 2016, all locally-based forex brokers were required to be CBR-licensed before they could operate in Russia. That notwithstanding, foreign brokers can still target local citizens without any major restrictions making it possible for most market participants to operate in the country without major restrictions via their foreign units.
Before InstaForex obtained its license in Russia, Insta Services Ltd, a registered company of Saint Vincent and the Grenadines rendered the broker’s forex services in Russia soley. Presently, SVG legislation allows forex service providers to operate in the country without a license. However, for the stock market, a brokerage company within InstaForex Group – InstaVector Investement Company Ltd has been holding a professional service provider license since 2008.

This broker – InstaForex, developed the MetaTrader5.com (a universal trading platform with a wide array of tools for traders). Its community there is a very helpful and active one.

Trading Conditions

Minimum Initial Deposit

InstaForex’s minimum initial deposit for all account types is just $1 which is far less than the $2,000 which Russian broker, TeleTrade requires for a start.

Spreads & Commissions

InstaForex offers fixed spreads only, which amount to 3 pips on EUR/USD and can be considered as a bit high. It’s zero-spread Eurica accounts also have almost the same trading costs which is high when compared to the 2 pips spread most fixed-spread brokers offer.

TeleTrade, InstaForex’s Russian competitor, also provides a spread of 3 pips on EUR/USD. However, TeleTrade offers variable spreads with trading costs as low as 0.1 pips for the above pair.

Leverage

InstaForex’s maximum leverage level stands at 1:1000 which to us, can prove damaging to proper risk management and as such should be considered carefully before opting for it.
Traders can control large amount of capital if they use a proper risk management strategy to trade on margins. Trading on margins alone without a proper risk management strategy however, can lead to heavy losses.

Trading Platforms

As previously mentioned this broker offers both the MetaTrader 4 and MetaTrader 5 platforms.

MetaTrader 4 (MT4) which is an internationally recognized trading platform offers a wide array of trading tools and resources such as an advanced charting package, more than 50 built-in technical indicators, extensive back-testing options and a wide range of Expert Advisors (EAs). Using this platform, traders can create or download ready-made EAs which will help the program do all the work for him/her.
Also, for accounts with balances over $5,000, InstaForex provides VPS hosting services which ensure that EAs operate continuously.
Another platform supported by this broker is the MetaTrader 5 (MT5) which is a powerful trading platform gaining popularity because of the hedging options and other enhancements which were added to it. It allows users to use a single trading account to execute orders in various financial markets. It also features trading and analysis tools, signals, alerts, EAs and other customization indicators.
InstaForex also provides traders with a means of copying orders by successful traders online via Forex Copy. By using the Forex Copy system, traders are able to select traders in the public monitoring list which they can follow and copy their successful trades.
For each trade copied by a Forex Copy follower, the Forex Copy trader whose trades are being copied receives a commission. These commissions can be per copied trade, per day or a trade profit share. In a case where the Follower chooses the Trade Profit Share option, the Forex Copy trader receives a commission only when trades copied are profitable.

Promotions

When it comes to bonuses, contests and promotions, InstaForex is well-known. InstaForex bonuses can be viewed below:

Methods of Payment

It is no surprise that InstaForex offers a wide range of payment mediums to its clients. These include credit/debit cards, bank wire transfer, Paxum transfer, MegaTransfer, PayCo, Neteller, Boleto, Skrill, BPay.md, Nordea SOLO, ePayments, Dankort, PostePay, Trustly, ePay.bg, CartaSi, Przelewy24, SOFORT, Electronic Payment Standard, POLi, iDeal, QIWI, Bitcoin, in addition to a number of other local transfers.
Also, clients can easily transfer funds to other company clients’ accounts via the InstaWallet system.

Conclusion

With 10 years of experience, this Russian Forex and CFD broker with a rich product portfolio provides its clients with a vast number of bonuses and interest rates on deposits. It is not regulated, however, and it’s pricing policy is not very competitive. Despite all the above, it uses fixed spreads and may also be a Market Maker.