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||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 review 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. InstaForex offers Online Financial Trading and Investment Services Such as Currencies.
Tradable Products: InstaTrade Corporation, offering forex, CFDs, and binary options trading as a MetaTrader only broker. In total, 88 CFDs are offered alongside 107 currency pairs.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. InstaForex is No dealing desk.
Features: Hedging and scalping are also allowed at Instaforex financial trading website. Auto signals might be applies, as well as to watch trading videos all the time you are on the page. If you need a more long-lasting practice, join the training course of the broker – it is absolutely free of charge.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, 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. InstaForex recommended minimum capital is $1.
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. InstaForex is 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.
Investor Protection & Regulations: With respect to regulation, the company maintains that it holds licenses in Brokerage, Dealing and Capital Management Services from the Russian Federation where it is regulated by the Russian Federation Federal Financial Markets Service. The website also lists four long numbers corresponding to their licenses.
Languages Available: Next lets have a look at each broker's different Language options. InstaForex offers Arabic, Azerbaijani, Chinese, Farsi, French, Georg.
Payment methods: Next lets have a look at each broker's payment options. InstaForex offers Credit/Debit Cards, Liberty Reserve, Moneybookers, PerfectMoney different payment methods for each account types.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, InstaForex makes MT4, MT5 available to clients.
Web & Desktop Trading Platforms:
Mobile Trading Platforms: Since InstaForex is a MetaTrader-only broker, iOS and Android versions of the MetaTrader 4 mobile app come standard and are both available for download from the Apple iTunes store and Android Playstore, respectively.
When it comes to market research, InstaForex provides a mixed offering. Highlights include InstaForex's daily market analysis blog posts, technical analysis posts via MT5, and InstaForex TV, InstaForex's video offering, which, on average, produces four to six forex news videos each day. Interviews, weekly reviews, and other educational videos are also available.
Many incentives. One such incentive is the opportunity to win a Lotus Elise sports car and a cash bonus when opening a new account.
Customer support services are the extra factor that makes a broker`s environment safe and convenient for the audience. Here, at Instaforex, you can enjoy a wonderful support for any case by the kind and polite representatives, who are available for you 24/7. You can contact them via phone call, e-mail or through the brand new contemporary live web chat. These are the languages you are free to use in your communication with Instaforex customer support representatives: Malay, Indonesian, Russian, Arabic and English.
Apparently, InstaForex is just one more highly questionable forex broker which takes advantage of the lack of regulation in the forex market, as well as people’s reluctance to go to the trouble of getting their money back.
Unless you have a burning desire to get into hassles with your money, or are a glutton for other forms of possible forex fraud punishment, avoid opening a live account with this company. Many other more reputable online forex brokers offer better service and more effective regulation, and so you would be much better off dealing forex through them instead.
Despite being in business since 2007 and offering a website that is well designed and full of advertising sponsorships.