Overview – InstaForex Broker Review 2023
Launching its forex trading business since 2007, Instaforex broker now has over 7 million clients trading on its platform. Instaforex attributes this milestone to its commitment to innovation in technology and catering to a variety of clients, providing unique trading privileges across board.
Pushing the limits in trading platform modernization has annually enhanced its reputation having earned over 30 financial awards, making it a “go-to” choice for forex traders and investors.
With more than 30 financial analysts on its team, you can instantly find out about trends in the currency market round the clock. These analysts give firsthand information about investing, this is what they do for their numerous clients, helping them make better decisions and trade better.
Instaforex stands for – Instant Forex Trading, Head Quarter – Russia.
Regulation
InstaForex brand is a registered trademark of InstaForex Group and it is regulated by:
- Instant Trading Ltd (BVI) is licensed by BVI FSC, License Number SIBA/L/14/1082
- Insta Service Ltd is registered with FSC Saint Vincent, Reg. Number IBC22945
- Insta Global Ltd. registered in Saint Vincent, IBC24321
Tradable Assets
InstaForex offers over 300+ trading instruments including cryptocurrencies, commodities, indices, oil and currencies.
Instaforex
Currencies – 110
Cryptocurrencies – 5
Stocks – 89
Indices – 7
Metals – 3
Oil & Gas – 7
Commodities – 26
These are a few important points to note when trading on InstaForex:
1. The margin volume for US cents accounts is less in 100 times.
2. Commission is set in pips (points).
3. A higher margin can be seen on some exotic currency pairs.
4. Trades are re-opened automatically every month at the first price of the next futures contract when the previous one is expired.
5. When the daylight saving time change occurs, the schedule of trading sessions is shifted one hour forward.
6. The trading session on USD/RUR and EUR/RUR starts at 10:05 am and lasts till 6:55 pm.
7. During the period of low liquidity (from 22:30 to 02:00 terminal time), the spread on some Forex Majors can be increased up to 10 pips.
8. Amid low volatility from 22:00 to 07:00 terminal time, spread for USD/ZAR may be raised up to 200 pips.
9. Trading session for Gold and XAUUSD lasts from 01:00 to 24:00.
10. Trading session for CFDs on shares lasts from 16:30 to 23:00.
11. Trading session for USD/INR lasts from 06:35 to 14:30.
12. For some currency pairs in particular EUR/CZK, and EUR/SEK a spread could be increased twofold amid low volatility at night (from 22:00 to 02:00 InstaTrader terminal time).
13. For GBP/CHF, a spread could be increased to 13 pips in a period of low liquidity at night trade (from 22:30 to 00:00 of trading platform time).
14. For #USDX, a spread could be increased by 2 pips in a period of low liquidity at night trade (from 22:30 to 00:00 of trading platform time).
15. Leverage for trading CFDs #Bitcoin, #Ethereum, #Litecoin, #Ripple: from 1:1 to 1:10 (can be changed in the specified range depending on market conditions).
Minimum Deposit
Instaforex has one of the most flexible account opening packages. You literally can start trading with nothing.
With a minimum of $1, you can deposit funds via the electronic payment systems, via credit card and via cryptocurrency wallets and $300 via bank wire.
You can earn between 30% – 100% whenever you credit your account.
Trading Accounts
Demo account
By choosing Insaforex iconic MetaTrader 4 platform, all features of a live account such as Signals, Indicators, Automated systems (Advisers) as well as VPS hosting that guarantees a stable trading experience are available to test drive.
Demo account cabinet is accessible for all clients using its forex demo account.
Live account
On its live account, all investors have access to (110 currency pairs), commodities (gold and silver), CFDs (26 contracts). as well as US equity derivatives (89 contracts), Indices (7) and cryptocurrencies (7).
The default parameters of live trading accounts are:
To start trading live, take the following steps:
- Open a live account
- Make a deposit to your account
PAMM Forex account (Copy trading)
The PAMM forex account grants you the privilege to invest in forex projects.
The PAMM forex account includes two categories of users:
Investing here means you can accept forex investments from others as a professional trader and share from your investors’ profit.
On the flipside, you can invest money in PAMM forex account and become a shareholder of this account, this means that the trader you are registered under trades on your behalf.
To have access to the PAMM, you must first open a Live account. If you already have a live account, you can then register for the PAMM forex account.
Registering as a Trader, gives you an opportunity to attract forex investments to your account. This not only gives you a chunk of income after profitable trades but also increases your rank and professional status amongst other traders.
Registering as an Investor gives you an opportunity to take a percentage of profit made by your selected forex trader. With a single dollar to tens of thousands of dollars, you can invest in this type of account.
This not only bring enormous benefits, but it gives passive investors an opportunity to trade without actually trading. The PAMM monitor gives an investor access to choose from a pool of traders.
Languages
With more than 260 representative offices worldwide, InstaForex communicates effectively in over 30 languages including, English, French, Spanish, German, Arabic, Portuguese, Zulu, Vietnamese, Thai, Malay, Indonesian, Chinese and more.
Currency Pairs
Currencies are divided into two main sorts – Major currencies and minor ones. The major currencies are derived from the most powerful economies around the globe – the US, Japan, the UK, the Euro Zone, Canada, Australia, Switzerland and New Zealand. Together with the other currencies they create forex pairs.
Max Leverage & Spread
Leverage is 1:1000 from $1 to any amount you wish to trade with.
Leverage for trading CFDs #Bitcoin, #Ethereum, #Litecoin, #Ripple: from 1:1 to 1:10 (can be changed in the specified range depending on market conditions).
Deposit & Withdrawals
Depositing money
Funding your account with Instaforex is pretty straightforward with over 8 channels:
Deposit via Bank Card
System fee. Deposit is processed within 24 hours.
Bank wire
Bank fee. During transfer an additional correspondent bank commission could be charged. Deposit is processed within 2-4 business days.
Southeast Asia Bank transfers
No fees. Deposit is processed within 1-7 working hours.
Skrill payment via wallet
No fees. Deposit is processed within 24 hours.
Deposit via NETELLER
No fees. Instant deposit.
Deposit via PayCo
No fees. Instant deposit.
Deposit via BitCoin
No fees. Deposit is processed within 3 hours.
Deposit via LiteCoin
No fees. Deposit is processed within 3 hours.
Deposit in Tether via B2BinPay
No fees. Deposit is processed within 3 hours.
Local Transfers
Bank fees vary. Deposit is processed within 1-2 days
Withdrawing money
By regulation, the standard withdrawal process from your trading account is to withdraw through the same means you funded your account. Debit, Credit card or Wire transfer etc.
Money transfer to bank card
System fee. Withdrawal is processed within 1–6 business days.
Bank wire
Fee: 2%. Processing: 2-4 business days.
Withdrawal via LiteCoin
Fee: 0.5%. Withdrawal is processed within 1-7 working hours.
Withdrawal via BitCoin
Fee: 0.5%. Withdrawal is processed within 1-7 working hours.
PayCo transfer
System fee. Withdrawal is processed within 48 hours.
Skrill transfer
Transaction fee: 1.39%. Withdrawal is processed within 1-7 working hours.
Transfer between accounts
No fees. Transfer is processed within 1-7 working hours. Accounts must have the same holder. E-mails and addresses of the accounts must match.
Southeast Asia Bank transfers
Fees: 2% + 0.3 EUR (minimum 1 EUR). Withdrawal is processed within 1-7 working hours.
NETELLER transfer
Transaction fee – 2%. If the withdrawal amount less than 50 USD an additional commission 1 USD will be charged. Withdrawal is processed within 1-7 working hours.
China UnionPay
System fee – 1.5%-1.8%. Withdrawal request is processed within 1-7 working hours. System’s processing time – 1-2 business days.
Withdrawal via B2BinPay (USDT)
Fees: 1%. Withdrawal is processed within 1-7 working hours
Local Transfer
Bank fees vary. Withdrawal is processed within 1-2 days.
Trading Platform
All InstaForex clients are free to choose a trading platform which offers a variety of exclusive features and capabilities.
- MetaTrader 4
- MetaTrader 5
- Multiterminal
- WebTrader
- InstaTick Trader
MetaTrader 4
Features of MetaTrader 4
- 9-time frames
- Variety of tools for technical analysis
- Online financial market news
- Automated trading
- Locked positions
- Wide choice of free indicators and advisors
- Creating your own indicators and advisors (MQL4)
- High security 128 bit encoding
- One click trading
- Trailing stop
MetaTrader 5
Features MetaTrader 5
- 21-time frames (MT4 only has 9)
- Depth of market (Level II pricing) and contract specifications
- MQL5 – the new generation programming language for designing expert advisors and indicators
- Automated quotes archive
- Advanced set of technical tools
- Fill Policy – a new field in the Order window
- Expiry dates for pending orders
- Ready-made trading advisors, indicators and scripts available from the in-built online store
Compare MetaTrader 4 and MetaTrader 5 Platforms
Multiterminal
Features of InstaForex Multiterminal
Multiterminal allows working with several InstaForex trading accounts at once. Multiterminal is an ideal tool for traders who manage accounts of their clients. (Account Management).
The trading platform software installed on a PC runs under MS Windows operating system.
WebTrader
Features of InstaForex WebTrader
- Three interface layouts (classic, dashboard, charts)
- Convenient and uncluttered charts with analytical tools
- Tick charts and stream of orders
- All trading instruments available
- Latest news and analytics
- For all types of accounts
- Synchronization with the company’s other trading platforms
InstaTick Trader
Features of InstaTick Trader platform
- Platform customized for making tick trades
- 6-digit quotes
- InstaTick Trader can be accessed from a web browser without logging in the client area and installing an MT4 plug-in
- Simple and user-friendly interface
- For all types of accounts
Technical Analysis
Instaforex advocates for quality trader education and development. It has provided over 6 categories of effective trading tools for technical analysis. This includes FX analytics, Charts, Trading conditions, FX news, Fx Informer and more.
Personal Account Manager
Instaforex has a responsive support system. You can contact support via email, chat or phone call, its forex community is also vibrant where you can practically get answers to your questions
Personal account managers are assigned to partners such as affiliates. This is so because partners to Instaforex needs all the support they can get especially when starting out.
Advantages of personal manager program:
- The manager is up to date with the Partner’s current situation and is always ready to offer assistance.
- The manager advises the Partner on working with other departments and facilitates connection with them.
- The manager provides recommendations for attracting new customers and assists in further business development.
Training and Education
Courses offered by Instaforex are developed by experienced InstaForex specialists and retail investors.
The materials are offered in clear language that is easy to understand. The authors prepared the course with care so that you will find it easy to absorb complex trading terms, the theory is reinforced with practical cases and charts.
Content of Forex Learning Course for Beginners
Lecture 1: Introduction
Lecture 2: Operations with MetaTrader platform on basis of MetaTrader 4
Lecture 3: Types of trends, types of charts and formation rules. Bull and bear speculations
Lecture 4: Types of exchange arrangements, rate of exchange
Lecture 5: Margin trading on Forex market
Lecture 6: Technique of the deal’s execution
Lecture 7: Introduction to the technical analysis, Dow theory
Lecture 8: Trend analysis
Lecture 9: Graphical patterns analysis
Lecture 10: Candlestick analysis
Lecture 11: Wave analysis. Elliott Wave Principle
Lecture 12: Mathematical analysis
Lecture 13: The fundamental analysis of foreign exchange market
Lecture 14: Trading systems
Lecture 15: Risk management
Lecture 16: Trading psychology
How to Get the Learning Course?
All you need to do is:
- Open a live trading account;
- open an account with InstaForex.
Forex Trading Signals
To have access to signals, select a subscription for one trading day or select a trade to copy. Having a live account gives you access this service.
Social Trading
As stated earlier, registering as an Investor with the PAMM forex account opportunity to trade like a pro. Let the experts do the job while you monitor your account activities. With a single dollar to tens of thousands of dollars, you can start copy trading.
With a deposit to your live account, you can register as an investor and watch your strategy manager trade on your behalf.
Pros & Cons
PROS
- Live account starts at $1.
- Local and International regulations.
- Trading Platforms, MT4, MT5, Multiterminal, WebTrader, InstaTick Trader.
- Innovative technology and cutting-edge trading features.
- Wide leverage position up to 1:1000.
- Commission from $0.
- Bonuses of 30% – 100% credit on a deposit.
- Clarity on all Trading account features.
- Excellent copy trading features – PAMM Forex account.
- 300+ Assets, Currencies, CFDs, Cryptocurrencies, Metals.
- Broad video tutorials, charts, trading advice, trading tools and interactive content.
- Responsive customer support 24/5.
CONS
- It takes 1-7 days to receive funds after processing a withdrawal.
- U.S. clients cannot use InstaForex.
- Restricted leverage for E.U.
InstaForex Broker Review
9.5
Pros
- Live account starts at $1.
- Bonuses of 30% - 100% credit on a deposit.
- Wide leverage position up to 1:1000.
- Commission from $0.
- Excellent copy trading features - PAMM Forex account.
Cons
- It takes 1-7 days to receive funds after processing a withdrawal.
- U.S. clients cannot use InstaForex.
- Restricted leverage for E.U.
MINIMUM DEPOSIT OF $1
10/10
MAX LEVERAGE & SPREAD
9/10
PAYMENT AND WITHDRAWALS
9/10
TRADING SOFTWARE, MT4, MT5, WEBTRADER
10/10
CUSTOMER SERVICE
9/10
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