FXGM is an online broker founded in Cyprus in 2011. It is regulated by CySEC and the FSCA. The brand offers a wide variety of trading currencies, stocks, commodities, indices, cryptocurrencies, exchange traded funds and options through CFDs.
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||FXGM 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 FXGM 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. FXGM offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Cryptocurrency, Futures, while Instaforex offers Currencies.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. FXGM is Dealing Desk, while Instaforex is No dealing desk.
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. FXGM is regulated by CySEC, FSCA, 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.
Languages Available: Next lets have a look at each broker's different Language options. FXGM offers English, Finnish, Italian, Polish, Spanish, Swedis, 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. FXGM offers Credit/Debit Cards, E Merchant Payment Solutions, EasyEFT, Klarna 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, FXGM makes Proprietary 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, Instaforex is more reliable based on our criteria above. Only Instaforex offers demo account, allowing you to test their platform to see which is suitable for you. Only Instaforex Offers the MetaTrader Platform. MetaTrader platform is a comprehensive trading platform that is often touted as being the best for forex trading. A popular, versatile and unique tool. Instaforex offers a wider range of platforms making it easier for the traders to choose one that matches their needs most.
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.