EagleFX is a forex and CFD broker allegedly based in Dominica. It does not offer tiered accounts, but supports the good old MetaTrader4.
InstaForex is an online forex broker that offers “instant forex trading” and online trading services to its customers worldwide. According to its website, the relatively new company has been in business since 2007, and it also claims that 300 new traders open accounts with them every day.
|#||Broker's Features||EAGLEFX Availability||INSTAFOREX Availability|
|#||Accepts US traders||❌||❌|
|#||24 hour trading||✔||✔|
|#||Trading by phone||❌||❌|
|#||1st deposit bonus||❌||❌|
|#||Forex contests competitions||❌||❌|
|#||Interest charges on the balance||❌||❌|
|#||24 hour support||✔||❌|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare EagleFX vs Instaforex.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. EagleFX offers Online Financial Trading and Investment Services Such as FX Majors, FX Crosses, FX Exotics, Cryptocurrencycurrencie, while Instaforex offers Currencies.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. EagleFX is ECN, STP, while Instaforex is No dealing desk.
Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. EagleFX recommended minimum capital is 10, while Instaforex has a Minimum Deposit Requirement of .
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. EagleFX is regulated by Not regulated, while Instaforex regulated by BVI. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Account currencies: Next lets consider the Account currencies each broker offers. EagleFX offers USD, EUR, GBP, BIT different account currencies for each account types, while Instaforex offers account currencies.
Languages Available: Next lets have a look at each broker's different Language options. EagleFX offers English, while Instaforex offers Arabic, Azerbaijani, Chinese, Farsi, French, Georg Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. EagleFX offers Credit/Debit Cards, Bitcoin, Bank Wire different payment methods for each account types, while Instaforex offers Credit/Debit Cards, Liberty Reserve, Moneybookers, PerfectMoney payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, EagleFX makes MT4 available to clients, while Instaforex offers MT4, MT5.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, EagleFX is more reliable based on our criteria above. EagleFX has a wider range of instruments to trade giving you the flexibility to get access and exposure to a wide range of markets. EagleFX offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged. One of the criteria we looked at before opening an account on a forex broker is the minimum deposit amount. EagleFX broker offers lower minimum deposit requirement. As EagleFX offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.