InstaForex is an online broker that has been in the market since 2007. This Russian ECN-broker has a client base of over two million traders from across the world and accepts nearly 1,000 new clients each day. Over the years, the broker has won awards and honors for various categories including the Best Broker in Asia, and The Best Retail Broker Award among others. Moreover, its work has been featured in many financial magazines and international financial forums around the world.
InstaForex claims to be an ECN certified broker. The Electronic Communication Network regulates all trading done on the platform. The company is also a member of InstaVector Investment Company (http://www.instavector.ru/en/).
Moreover, the company holds Dealing and Capital Management Services as well as Brokerage licenses from the Russian Federation.
- Instant Trading EU Ltd is licensed by CYSEC (Cyprus) License Number: 266/15
- Instant Trading EU Ltd (Cyprus) is registered with FCA (UK), Reference number 728735
- Instant Trading Ltd is licensed by BVI FSC (British Virgin Islands) License Number: SIBA/L/14/1082
You can register with the broker on their website which is also accessible over mobile devices. The website offers over 30 languages from which you can pick your preference and Leverage up to 1:1000. Once you have registered for the account, you get a choice of five categories of accounts as stated below.
This account works with any traders who allow for the settlement of the trade by the use of classical spread. There are no fees paid for this kind of settlement. With this account, you can trade with Micro Forex with a minimum deposit of anything between $1 and $10, the mini-Forex account where you trade with a minimum deposit of $100 or the standard account where the minimum deposit is $1,000. This account allows for the traders to choose the size of the deposit and change the trading leverage. However, traders are supposed to pay a spread for the account.
Insta.Eurica – Zero Spreads
This account is meant for novices in the market. It does not have a spread. Orders are only executed right if the spread is no more or less than zero and the price reaches its value. This account also allows inexperienced traders to learn the dynamics of the market using a simplified trading system.
There are also Cent. Eurica and Cent. Standard accounts for those new in the trade and those who would like to test their trading strategies. This is because the accounts have minimal risks as they use the advantage of 0.0001 lots. Both of these accounts also have similar trading terms as their respective Insta accounts. The difference is the amount required for trading.
If you are very green in forex trading, a demo account is there for you. The account has all the features found in the Insta Standard accounts to help you learn forex trading without putting your money at risk. All the accounts have access to over 107 currency instruments and 34 futures CFD’s, U.S. Stocks CFD’s and trades in precious metals such as silver and gold.
Once you are a member of InstaForex, you can visit the cabinet section to read about financial matters and news. Each day, the financial experts at the company prepare a market analysis which provides market signals for expected price fluctuations. Each of the signals has the summary, formulas involved and tips on using the signal. You can also download all the indicators and go through them in the MetaTrader 4 platform.
Other features available on the site includes the ForexCopy system that allows traders to follow the trades of the successful traders online. The platform also has InstaForex PAMM which allows any trader to make an investment in Forex projects. Traders can make investments to other traders or invest their cash in PAMM accounts. New customers get a 30% welcome bonus.
InstaForex Trading Platforms
The InstaForex broker offers a number of trading platforms to allow you buy and sell assets or currencies online and make a wide range of settlements. For Windows PCs, you can download either the Metatrader 4(MT4) or MetaTrader 5 (MT5). You Windows version must be 7 or higher.
Also available is the Multiterminal Platform that allows working with a number of InstaForex accounts all at once. This platform is a perfect choice for traders who constantly manage their clients’ accounts. It works well with the MS Windows OS.
As an InstaForex customer, you also have the option to use the InstaForex MobileTrader platform with your Android device. You can trade currencies, buy or sell assets, analyse charts, etc right on your Android mobile device.
If you have an Apple device like the iPhone or an iPad, you can download the InstaForex MobileTrader on your device.
Also available is the Forex Rates Viewer platform that is specially designed to allow traders to be instantly aware of any changes on the currency market. It runs on Ms Windows OS.
Withdraws and Deposits
You use the same method for deposits and withdrawals. Traders have an option of using credit cards, Skrill and Neteller among other platforms. However, some of these payment methods attract some fees. Recently, they started allowing traders to use Bitcoin in their trading without any fees.
The forex company has a good reputation among many of their customers partly because of the wide range of features on their account. There is a wide choice of assets and allows for high leverage.
However, some are confused due to too much text on the website, especially for beginner traders. Moreover, there is no adequate evidence of regulation from Russian authorities.
InstaForex is a legit Forex trading company that has survived the market for the last eight years. You can open an account with them. If you are a bit shaky, start with the low accounts and upgrade as you move on.