User Review( vote)
InstaForex is an online trading brand that went live in 2007. It is home to a community of over 7,000,000 traders from different parts of the world. As many as 1000 online traders sign up at InstaForex daily. With features such as PAMM System, which enables traders to invest on the trading activities of top PAMM traders and ForexCopy, which enables traders to copy trades made by seasoned traders, it is the number one choice for traders with different skill levels.
• Excellent customer support
• High-quality educational material
• 300+ trading instruments
• Generous trading bonuses
• 7,000,000 satisfied clients
• Does not accept traders from all countries
• Spreads for standard accounts are expensive
The forex broker has won several industry awards, including World Finance Awards’ Best Broker in Asia Award for several years and Best Retail Broker Prize from European CEO and CNBC Business Magazine. It showcases its products and services at noted international events such as ShowFX Asia, Jordan EXPO, and CIOT Expo.
Is InstaForex Reliable?
The InstaForex Group has been around from 2007 and has established itself firmly in the industry. They maintain the best industry standards and comply with local and international laws. The company offers online trading services under a license offered by BVI FSC (British Virgin Islands), numbered SIBA/L/14/1082s.
How to Open Free Demo Account
You can create a fully functional demo account on Instaforex’s MetaTrader 4 trading platform, which offers trading on 34 US stock CFDs, gold and silver, futures CFDs, 107 currency instruments, and much more. Opening a demo account is as simple as inputting one’s full name, email address, and phone number, selecting one’s currency, and investment amount, and then clicking on the Open an Account button.
Demo account holders can access a feature called Demo Account Cabinet, which includes:
- Forex and Lots calculators
- Tick history
- Trade history
- Trade archives
- Current history
Account holders can also access summaries of their accounts in the form of graphics. They can also choose leverages in the range of 1:1 to 1:1000 and get the latest financial news and updates in the cabinet.
Traders can open three types of accounts at InstaForex based on their requirements and skill levels:
Insta’s Exciting Promos, Bonus Offers and Contests
InstaForex runs more promotions and contests than any other forex trading service we have come across. Also, there are several bonuses to claim:
- $500 Startup Bonus – Traders just have to create a new account to qualify for a no-deposit startup bonus of $500.
- Refer-a-friend Bonus – InstaForex rewards traders who invite their friends to start trading on its platform with a bonus of $250 for each friend referred.
- Welcome Bonus – Traders can claim 30% of their first deposit amount as a welcome bonus. The steps to claim this bonus are quite simple:
- Create a real money account.
- Make a deposit.
- Apply for the welcome bonus.
- The broker automatically credits the bonus to trader accounts.
- Club Bonus – Holders of the InstaForex Club Card can apply for a Club Bonus that ranges from 1% to 10% of the surplus in their balance. For example, they will get 10% of the surplus if it is at least $15,000.
In addition, Instaforex runs some interesting time bound promotion. For example, traders can grab the opportunity to win a brand-new Lamborghini if they trade at Insta Forex. To participate, they have to load at least $1000 in their accounts and register for the promotion. All those who register between Dec 26, 2016 and Dec 20, 2019 will be entered into a lucky draw and the winner will be determined through a number drawn at random.
At InstaForex, traders can choose from trading platforms that best suit their requirements. The FX broker offers three varieties of platforms—MetaTrader5, MetaTrader 4, WebIFX, and InstaBinary.
The MetaTrader4 platform, which is available for Apple, Android, and Windows devices, comes with the following features:
- Technical analysis tools
- 9 time frames
- Automated trading
- Financial news
- Free advisors and indicators
- Locked positions
- 128-bit digital encryption
- Create advisors and indicators
- Trailing stop
- Single click trading
MetaTrader 5, which traders can download on Windows 7 or higher, comes with the following features:
- Contract and depth of market specifications
- 21 time frames
- Automated quotes archive
- Design indicators and advisors through MQL5
- Technical tools
- Achieve double bounce by placing Sell Stop Limit and Buy Stop Limit orders without the assistance of expert advisors
- Readymade indicators, scripts, and trading advisors
- New field called Fill Policy in order window
Traders can download the multi terminal platform for Windows 7 or higher if they are interested in operating multiple InstaForex trading accounts at the same time.
WebIFX and InstaBinary platforms are compatible with all operating systems and do not require installation of additional software. Traders can use these platforms to trade from any location in the world, provided they have access to fast and uninterrupted Internet connectivity. These are unique software platforms developed by the in-house team of InstaForex. Only registered traders at InstaForex can use these platforms.
List of Assets
Traders can trade on hundreds of instruments across seven classes of assets at the forex broker:
- Indices – All the chief global indices are available at this online trading platform.
- Commodities – Trade on commodities such as sugar, wheat, cocoa, and others.
- Equities – Stocks of some of the biggest companies in the world are available for trading.
- Currencies – Trade on more than 200 pairs of currencies.
- Cryptocurrency – InstaForex offers more than 200 pairs of currencies from different parts of the world.
- Energy – Gas, oil, and other energy commodities are available for trading.
- Metals – Trade on a variety of metals such as platinum, silver, gold, and palladium, among others.
Fx Bot Revealed
The credit of developing the world’s first Forex droid goes to InstaForex. Fx Bot is not just a robot with microphones for ears and video cameras for eyes, but also an invaluable member of the InstaForex team. Built by a Russian company called R.bot, Fx Bot is one meter in height and can easily maneuver in any environment. The robot communicates with people through images and video films.
Traders who would like to interact with Fx Bot can do so at financial exhibitions, in which the online trading company participates. In fact, this robot can give traders all the information they need about online trading.
InstaForex never allows its traders to feel alone as it is home to a huge, lively, and dynamic community of forex traders. The forex community is a great source of charts and resources. The company calls it “a mine of forex-related information,” which gives all users the opportunity freely express their views and exchange ideas. It features corporate blogs, a forex humor section, a forex portal, and a selection of forex forums.
Making Deposits and Withdrawals
The broker has one simple rule – customers should use the same banking method for deposits as well as withdrawals. The company processes payout requests and deposits between the hours of 10:00 a.m. and 7:00 p.m. (UTC+3) from Monday to Friday.
InstaForex has an interesting feature called Chancy Deposit. If traders make a deposit of at least $3000, they will get the opportunity to win at least $1000. Every month, the company chooses an account at random and credits the prize of $1000 to it. So far, Insta Forex has given away a total of $432,399 in Chancy Deposit prizes.
You can choose from a variety of payment methods to make a deposit or withdrawal at InstaForex:
- Bank Wire
Making deposits and withdrawals at InstaForex is absolutely free of charge, but banks and financial institutions may charge transaction/processing fees.
Traders can deposit a minimum of $1. Deposits made through OnPay, Z-Payment, and BKMoney are instant, but Qiwi deposits take up to 15 minutes, Yandex Money deposits take up to three hours, and Visa and MasterCard credit/debit cards take up to 24 hours. Cash deposits made in InstaForex offices take up to four hours, bank transfers take up to four days, and eWallet deposits take 24 hours.
Withdrawals through Moneybookers, Skrill, and Qiwi take up to seven hours while withdrawals through bank transfer take up to four days. If traders choose to withdraw through Visa, they have to wait up to six banking days to get their money.
How to Get Help
There are several ways to get support at the online trading platform.
- Request Callback – The request callback facility is available in 10+ languages. You only have to fill in a simple form and select a convenient time to receive a call from the broker.
- Support Area – The support area is an excellent place to get basic trading education, read company news, and get the basic information about the various features of InstaForex.
- InstaForex Offices – The company has 260 offices in different parts of the world. You can easily get InstaForex office addresses on its official website.
- FAQ – The Frequently Asked Questions (FAQ) section provides answers to commonly asked questions such as trading services, affiliate programs, forex options, account verification, and much more.
- Live Chat – Click on the Chat icon to instantly launch the live chat window and chat with a customer support agent.
- Leave Feedback – Insta is always eager to receive feedback and suggestions from customers. Traders can use the feedback form online to leave behind their valuable suggestions.
- Email – Clients can send an email to [email protected]
- Others – Users can get in touch with InstaForex through Skype at instaforex.support or ifx.support; ICQ at 350070300; Whatsapp at +447418450528; Viber at +447418450528; Telegram at +447418450528; and Twitter at @ifx_support for technical support. Alternatively, they can call the number +442037699172
Our Take on InstaForex
InstaForex is a reputed online trading company which caters to mostly to the Asian market. We haven’t come across any serious complaints about this company. It has proved to be an excellent choice for advanced traders as well as beginners.
The forex broker has won several industry awards, including World Finance Awards' Best Broker in Asia Award for several years and Best Retail Broker Prize