InstaForex Review
7.2

InstaForex Review 2024: Is It a Legitimate Broker?

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7.2/10 (Expert Score)
Product is rated as #8
Trust
7
Fees
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Platforms and Tools
7.5
Customer Support
8.5
Tradeable Instruments
7
Account Types and Terms
6.5
Deposit and Withdrawals
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Research and Education
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InstaForex Overviews


InstaForex has over 7 million clients and has been in operation since 2007. offering CFD trading to clients through forex, stocks, indices, commodities, futures and crypto this broker has made a name for themselves over the years and is a favorite amongst many retail traders. This review takes a closer look at this broker and what they offer.

InstaForex Review 2024: Is It a Legitimate Broker?

InstaForex is a well-known online forex trading platform that offers a wide range of trading services to its clients around the world. InstaForex has quickly grown to become one of the leading forex brokers in the industry, with over 7 million traders and over 300 trading instruments available on its platform.

One of the key features that sets InstaForex apart from other forex brokers is its commitment to providing its clients with the latest and most advanced trading technologies. The platform offers a range of trading tools and indicators that enable traders to make informed trading decisions and execute their trades easily.

InstaForex also offers a range of educational resources and training materials, including webinars, video tutorials, and trading guides, to help traders improve their knowledge and skills. The platform also provides its clients access to a team of experienced forex professionals who can provide advice and support on all aspects of forex trading.

In addition to forex trading, InstaForex also offers trading in a range of other financial instruments, including commodities, cryptocurrencies, and stock indices. The platform also offers a range of account types to suit the needs of different traders, including standard accounts, cent accounts, and ECN accounts.

Overall, InstaForex is a well-established and reputable forex broker offering its clients a wide range of trading services. With its commitment to providing the latest trading technologies, educational resources, and experienced support, InstaForex is a popular choice for traders worldwide looking to trade forex and other financial instruments. Let’s see if this broker holds up to the hype and if they are for you.

Broker Feature Overview
Type of Broker CFD forex boker
Regulation & Licensing Financial Services Commission (FSC)
Applicable Countries Allowed To Trade See the prohibited countries section
Assets Offered Forex, stocks, crypto, commodities, indices, futures
Platforms Available MT4, MT5 Web, MultiTerminal, Mobile App
Mobile Compatibility Yes
Payment & Withdrawal Options
  • Bank Card
  • Neteller
  • Skrill
  • PayCo
  • AstroPay
  • Crypto
  • Bank Transfers

Facts About InstaForex
  • Founded in 2007
  • Offer forex, stocks, commodities, crypto, futures
  • More than 7 000 000 people are clients of InstaForex
  • More than 100 000 clients are in the InstaForex club
  • More than 1 000 new accounts are opened daily
  • Over 300 trading instruments are available for the clients
  • 55% is the highest bonus granted for every replenishment
  • 9 trading servers provide reliable services for clients
  • More than 30 experts are in the team of analysts
  • More than 10 000 000 USD was invested in the PAMM accounts.
  • More than 100 000 people are ForexCopy subscribers
  • More than 500 000 USD is raffled off yearly among InstaForex clients as a part of contests and campaigns
  • Over 2 000 people are winners of InstaForex contests
  • More than 30 languages are available for website users
  • The company received more than 30 financial awards during seven years of working

Pros and Cons


PROS
  • Founded in 2007
  • Offer forex, stocks, commodities, crypto, futures
  • Offer MetaTrader (4 and 5)
  • Mobile trading app
  • Licensed by the FSC
  • Good amount of trading resources
  • Good customer support
  • Two account types with Cent accounts for each
  • Demo account
  • Maximum leverage is 1000:1
CONS
  • Low Trustpilot score
  • Spreads are high
  • Only regulated by one authority

Is InstaForex Safe? Broker Regulations


InstaForex is registered with the FSC. This is the only regulatory authority that oversees this broker, and you can find this information by heading to the “regulations” section under the “about InstaForex” menu. When you head to this page, an overview of the region in which the FSC regulates them is given. Here we can also see that the entity under which InstaForex operates (the InstaFintech Group) has been operating in the industry since 2007.

You can also find information about the company listed in the website’s footer. This is typically where brokers put their regulation information for easy access. Here they also give you the details about the broker’s physical address as well as their license number;

  • Address: 4th Floor, Water’s Edge Building, Meridian Plaza, Road Town, Tortola, British Virgin Islands
  • License number SIBA/L/14/1082 issued by the BVI FSC

It should be noted that multiple authorities usually regulate brokers, especially those of this size and those operating in multiple regions. However, this is not the case with InstaForex. In some cases, brokers regulated by only one authority are frowned upon and seen as unsafe, but there may be many reasons why they have chosen to do this.

You can also head to this broker’s “awards” section to see all the recognized achievements they have accomplished over a decade dating back to 2009. In the case of InstaForex, there are too many awards to mention, and they have literally won numerous awards since 2009 up to the present.

One aspect of this broker that is really nice is that they have a news feed (blog) that relates only to news about the broker itself. You can think of this as a live up-to-date news feed that just details specifics about the broker, their ambassadors, competitions, and such.

You would think we would put this under our trading resources and tutorials section, but this blog does not really relate to that. Thus, we would regard it as the broker being “transparent,” and we decided to address it here.

Another way to tell if a broker is reputable is to check whether or not customer reviews about their experience are good or not. Typically we would use Trustpilot for this as it is a site that many people regard as trustworthy.

However, the score for this broker is a mere 2.9 out of 5 stars from almost 300 reviews. This does not bode well for the broker. However, InstaForex also has reviews that are visible on their website. In this case, the broker gets to pick and choose, so undoubtedly, they are all going to be “in favor” of InstaForex.

  • Financial Services Commission (FSC)

What Can I Trade with InstaForex?


The InstaForex website is quite daunting, even for experienced traders. The website is filled with a ton of information; if you do not know what you are looking for, you will surely get overwhelmed. In the case of tradable assets, this broker has over 300, and you will find information on the available instruments by heading to the “trading instruments” section located under the “for traders” menu tab.

It should be noted that InstaForex is only a CFD broker, and the assets that they offer will be traded on this basis.

It should be noted that if you open an MT5 account with this broker, you can only trade forex, shares, and metals. However, we will cover everything that you can trade on the standard account.

Forex

In terms of forex, InstaForex offers quite an array of currencies to trade. We don’t know the total, but they look to have about 100 pairs to trade. You can expect to find everything from major to minor and exotic pairs to trade here and even emerging currencies. One thing to note is that details on forex rates are also given in this section and they are as follows;

Forex trading terms on major and cross rates for Standard accounts are;

  • Minimum deal size makes up 0.01 lots
  • Minimum pip price totals 0.01 USD
  • margin is from 0.10 USD
  • Leverage for trading in USD/RUB and EUR/RUB currency pairs is 50:1

Shares

For shares (and remember, this is for CFD stock trading), clients are looking at about 200 in total to trade. Although this list is not the largest, it is not the smallest either, and all the most popular stocks are available. Again the trading terms for stocks are given here, which we will outline, but it should be noted that sometimes brokers choose to give these details in the “trading accounts” section.

Contract trading terms for all CFD and Metal account types;

  • Minimal lot size – 0.01 lot (1 share or 1 ounce)
  • minimum margin 0.10 USD

Indices

The indices list for InstaForex comprises of 20, which is, for the most part, all the biggest and most followed indices. You will find everything from the Hand Seng to the S&P 500 to the Swiss Market Index and more here. The trading conditions for indices are;

  • Buy-swap is -7%
  • Sell-swap -2%

Metals

In the case of metals, clients can look to trade gold, silver, and palladium against the USD. There is nothing out of the ordinary about the list of metals that InstaForex has, except that it lacks all the available metals one can trade. Contract trading terms for all CFD and Metal account types;

  • Minimal lot size – 0.01 lot (1 share or 1 ounce),
  • minimum margin 0.10. USD
  • Leverage for GOLD and SILVER trading is 1:100
  • Leverage for CFD trading is 1:10

Oil and Gas

InstaForex probably has one of the largest “lists” that comprise of oil and natural gas. Typically, brokers will have brent, crude, and natural gas instruments. However, InstaForex also has futures available for these, taking the number of assets to 20 in total. Here are the trading conditions;

  • The Buy swap on all futures instruments except #CLand # N.G. is -0.1 points, while the Sell swap is -0.2 points
  • The Buy swap on #CL is -2 points, and the Sell swap is -1.5 points. For # N.G., the Buy swap is -1 point, and the Sell swap is -0.5 points.
  • The minimum trade volume is 0.01 lots (1 lot for cent accounts)

Crypto

InstaForex has the top available crypto coins to trade as CFDs. They don’t have many, but you can expect everything from Bitcoin to Solana here.

Futures

We put all of these brokers’ futures under this heading, but as you can see from the “oil and gas,” they span a variety of assets, including commodities and “InstaFutures.”. Expect everything from cocoa to corn, cotton, and cattle feed for commodities, while InstaFutures comprise of the EUR against the Dollar over a weekly and monthly period.

  • Cryptocurrency
  • Stocks (Shares)
  • Forex
  • Futures
  • Oil and Gas
  • Metals
  • Indices

How to Trade with InstaForex?


There are four ways in which you can trade with InstaForex. Traders who are familiar with trading will understand when we say this broker uses MetaTrader 4 and 5 as their software. We have covered MetaTrader (both 4 and 5) at length in many of our other articles, so we will not cover these platforms here in detail.

However, InstaForex also offers a web terminal and then also “Multiterminal.”. The web terminal is just a browser version of MetaTrader, and we have also covered this in great detail here at PipPenguin. However, this is the first broker we have come across that offers “Multiterminal” as a platform. Multiterminal is just MetaTrader 4 that allows you to manage several accounts at the same time.

One thing to note is that the only download option is for Windows when going through the trading platforms available for this broker. This is for both MT4 and MT5. The broker does not specifically state that it is not available for other platforms, but we could not find information on if it is available for Mac.

Lastly, this broker does have a proprietary mobile trading app, but we could not find information about it on their website. This is quite ironic, as this broker lists almost everything they have on their website. Through our research of the Play and Apple App store, we did come across their app.

One small image on the homepage shows the Play and Apple stores, but nothing else is mentioned. Also, this may be missed by some individuals because of the amount of information thrown at them on the homepage.

Although not something to be concerned about, the amount of information that is available on their site is a lot, and beginner traders may find that starting to trade on mobile is how they would get into trading. It is something this broker should consider.

Feature MT4, MT5, Web InstaForex Quotes and Trading
One-Click or One-Tap Trading Yes Yes
Trade Straight off  Charts Yes
Email Alerts or Push Notifications Yes Yes
Mobile Alerts Yes Yes
Stop Order Yes
Market Order Yes Yes
Trailing Stop Order Yes No
OCO Orders (One-Cancels-The-Other) No No
Limit Order Yes No
24hr trading Yes Yes
Charting Package Yes No
Streaming News Feed Yes Yes

  • MetaTrader 4 (Windows, Mac*, Web)
  • MetaTrader 5 (Windows, Mac*, Web)
  • MultiTerminal (Windows, Mac*)
  • Quotes and Trading Mobile app

How Can I Open InstaForex Account? A Simple Tutorial


As we have stated, this broker’s website is packed with a ton of information, and opening an account may seem like a big deal. However, this is not the case. For the most part, it is similar to that opening an online account with other brokers.

The first thing you will need to do is to head to the InstaForex website. Typically brokers have the “signup” or “register” button located on the side of the main menu. However, InstaForex has so many tabs and sections that they have put the “open trading account” underneath the top banner. For this tutorial, we will be explaining how to open a live account. Firstly, click on the “open trading account” button. No matter what language you select, the website’s layout remains the same, and only the content is translated.

You will then be redirected to the InstaForex registration section and which is comprised of three steps. The first step will have you insert your status and Email address.

Once this is done, you will move on to step two. This will have you fill in personal details such as your full name, date of birth, city, region, postal code, country, and phone number.

Step three will have you then choose and manage your account type. This will include creating your password, selecting your account type (which we will discuss later), your leverage, account currency, and affiliate code if you have one.

After you have filled this in, you will have created your account, and you will be taken to a deposit screen, as shown below. However, it is not necessary to make a deposit straight away. You can go back to the homepage and log into your account via the login button located in the top header.

You will then be taken to the client area. We suggest you do this rather than making a deposit, even though the bonus is only applicable when you are at the deposit screen. The best option is to open another window and log in from there while still having the deposit window available.

After logging in to your account, you will be taken to the client area, where you can get a full overview of your account.

Remember that you will need to pass two verification levels on your account if you intend to deposit and withdraw. However, this is not included in registration; you must access this via the client area.

  • Head to the InstaForex website
  • Choose your language
  • Click on the "open trading account" button located under the banner
  • Go through the three stages of registration and fill in the necessary information
  • Login to the client area via the homepage
  • Verify your identity through the client area

InstaForex Charts and Analysis


The amount of trading resources available from InstaForex is quite comprehensive but also a bit overwhelming. There is a lot of information when trying to go through it all, and not everything is considered as trading resources or educational material, so we will cover what is. There are two dedicated sections you can say that relate information to experienced traders and then to beginners.

Beginners have these as a means of educational material and trading resources available to them;

  • Video Tutorials
  • Training
  • Useful information
  • Knowledge base

The Video Tutorial section is only made up by a handful of videos explaining the key concepts of forex, quotes, spreads, margin trading, swaps, and technical analysis. Although the videos are quite good, they only cover the basics.

Next is the Training section for beginners, which you can find here. However, this material is not available to everyone, and you will need to be an InstaForex client to download and use these lessons. There are 16 in total, and they go through various trading topics, including fundamental, mathematical, and technical analysis.

Then beginners have “useful information,” which is just a section comprising links to other sections of the broker’s website. For example, there is a link to the broker’s FAQ section and to the blog. This could be quite useful as beginner traders may not know where to go because of the sheer amount of information this broker gives.

Last up for beginners and even a section experienced traders can take advantage of is the Knowledge Base. This is a “blog” that incorporates training and other aspects of trading. However, it is not laid out in a beginner-friendly manner. The information provided here is well worth any trader’s time and should be looked over.

For experienced traders, there is a totally different array of trading resources that include;

  • Chief Strategist
  • Analytical reviews
  • Video Analytics
  • InstaForex TV

The chief strategist section is a section devoted to Dean Leo, who is InstaForex’s chief strategist. This section gives a breakdown of his trades, predictions, his strategy, and his secrets. If you understand technical analysis and want to look at a professional perspective on it, then this section is for you.

The Analytical Review section is a “blog” dedicated to the breakdown of the markets, trading situations, and positions. This section is a bit overwhelming, so if you don’t have experience in trading or are not looking for something specific, we suggest heading to the other more “structured” sections first.

Next up is the Video Analytics section, which is pretty much the same as the Analytical Review section, only with video. Here you will find daily video analyses and breakdowns of the market. There is nothing out of the ordinary here. This section complements the others while giving users an option between video and text-based analysis and breakdowns.

Lastly, there is InstaForex T.V. This in-house production is similar to Bloomberg, meaning a presenter covers the most pertinent global economic and financial news pertaining to a wide range of industries and sectors.

  • Video Tutorials
  • Training
  • Useful information
  • Knowledge base
  • Chief Strategist
  • Analytical reviews
  • Video Analytics
  • InstaForex TV

InstaForex Account Types


There are technically three types of accounts that this broker offers its clients: a Standard, Eurica, and Cent account. Note that they name these accounts slightly differently, and the Cent account can apply to both the Standard and Eurica accounts. InstaForex has quite a detailed explanation of each account, and we will go through it here. Hopefully, it will clarify what these account types mean.

Standard accounts are relevant for standard trading terms on the forex market and function without fees. Once a trader gets access to all trading instruments, they pay a fixed spread setting a trade.

These accounts also work for all types of traders, allowing a trade to be settled with classical spread and no fees. The main advantage of this type of account is its universality, as often, a trader can change the trading leverage and work with a deposit size convenient for them.

The features of the account allow trading with Micro Forex (minimum deposit of 1-10 USD), Mini Forex (minimum deposit of 100 USD), and Standard Forex (minimum deposit of 1,000 USD).

Eurica accounts do not require any spread to be paid for opening a trade for most currency instruments of this account type; zero spreads are applied. Due to this, the Bid price is always equal to the Ask price.

It should be noted that the offered price runs higher than the Bid price (on the basis of which a chart in the trading terminal is plotted) by half of the standard spread for a given trading instrument which is rounded up to its integral value due to some technical peculiarities of the MetaTrader 4 platform.

The Eurica account type is recommended for beginner traders because it is not necessary to take into consideration the spread in case of pending orders usage. If you do not know a pending order, it is executed right when the price reaches its value if the spread equals zero.

Aside from the fact that Eurica accounts allow beginner traders to get the hang of the market using a simpler system of trades conducting, professional traders can also use this account type because its trade characteristics are the same as of the Standard account type.

Cent.Standard and Cent.Eurica account types are developed for beginner traders and oriented to those clients who just learned to trade, and for this purpose, they need access to the minimal possible trade volume.

Mini forex is available with a lot volume of 0.0001 of the market lot (the lot price is 0.1 U.S. cents) and allows practicing almost without any risks for deposit. This type of account will suit well those who want to test trading strategies with minimal risks using the trade advantage of 0.0001 lot.

In addition to the smallest allowed trade volume – 0.0001 of the market lot – the owners of Cent.Standard and Cent.Eurica accounts have the same trading terms as IStandard and Eurica. The only constraint here is the maximum allowed deposit for cent group accounts of Cent.Standard and Cent.Eurica. For more experienced traders, it is recommended to open an account of either Standard or Eurica, which do not have any maximum deposit constraints.

Leverage is variable and decided when opening your account, with the highest leverage being 1000:1. Also note that we discussed trading conditions for specific assets in the section above related to “what you can trade” with this broker.

Forex CFD Broker Insta.Standard Insta.Eurica
Features Multiterminal trading Multiterminal trading
Account Currencies EUR, USD EUR, USD
Available Leverage 1000:1 1000:1
Minimum Deposit 1 USD 1 USD
Commission Per Trade None 0.03 to 0.07%
Decimal Pricing 5 5
Trading Instruments Forex, stocks, futures, crypto, indices, metals, oil, and gas Forex, stocks, futures, crypto, indices, metals, oil, and gas
Min. Lot Size Per Trade 0.01 lots 0.01 lots
Max. Lot Size Per Trade 10,000 lots 10,000 lots
Spreads 3 to 7 pips 0 pips
Demo Account Yes Yes
Swap/Rollover Free Yes Yes
Hedging N/A N/A
Scalping Yes Yes
Copy Trading Support Yes Yes
Available to U.S. Residents No No
 

Forex CFD Broker Cent.Standard Cent.Eurica
Features Multiterminal trading, Cent Account Multiterminal trading, Cent Account
Account Currencies EUR, USD EUR, USD
Available Leverage 1000:1 1000:1
Minimum Deposit 1 USD 1 USD
Commission Per Trade None 0.03 to 0.07%
Decimal Pricing 5 5
Trading Instruments Forex, stocks, futures, crypto, indices, metals, oil, and gas Forex, stocks, futures, crypto, indices, metals, oil, and gas
Min. Lot Size Per Trade 0.01 lots 0.01 lots
Max. Lot Size Per Trade 10,000 lots 10,000 lots
Spreads 3 to 7 pips 0 pips
Demo Account Yes Yes
Swap/Rollover Free Yes Yes
Hedging N/A N/A
Scalping Yes Yes
Copy Trading Support Yes Yes
Available to U.S. Residents No No

  • Standard account (Insta.Standard)
  • Eurica account (Insta.Eurica)
  • Cent (Standard and Eurica)

Do I Have Negative Balance Protection with This Broker?


With all the information available from this broker and on their website, they do not, in fact, have any information on whether or not they offer negative balance protection. The only information that is given is that of clients wanting to open segregated accounts with the broker.

For the most part, segregated accounts are a good thing, and all brokers should have this as standardized practice, but the lengths to which a client has to go in order to open a segregated account with this broker is not that straightforward, and it will cost a lot of money.

The only information we could find on this broker was through another review by TrustUnion, and they say in their review that this broker does offer it. However, speaking to live chat, it was clear that this broker offers it, or at least they say.

  • Yes, for all accounts

InstaForex Deposits and Withdrawals


InstaForex offers an array of methods for deposits and withdrawals, and as such, we can’t list them all. For more information on the deposit methods available for this broker, you can head to this page that outlines all the methods that are available. They also list that for deposits via all methods besides bank transfers are subject to no fees.

The popular methods for depositing that this broker offers include;

  • Bank Card
  • Neteller
  • Skrill
  • PayCo
  • AstroPay
  • Crypto
  • Bank Transfers

In terms of withdrawals, no information is given by this broker. Looking through the FAQs, there is nothing; even looking through the client area provides us with no information. In fact, there is not even a withdrawal option in the client area. However, this might be because we have yet to fund the account.

Speaking to support through live chat, they assured us that the withdrawal methods are the same as the depositing methods and explained that processing times would vary depending on which gateway you use.

  • Minimum deposit for all accounts is 1 USD
  • Bank Card
  • Neteller
  • Skrill
  • PayCo
  • AstroPay
  • Crypto
  • Bank Transfers

Support Service for Customer


In terms of support, this broker, again, has a lot. If you are looking for a support page among the menu sections, you will not find it. You will need to go to the header of the website and then click on the support link. This will bring up the various methods by which you can contact InstaForex. They are namely;

  • Request callback
  • FAQs
  • Live chat
  • Feedback
  • Email
  • Contacts
  • Social apps

Clicking on the appropriate links will redirect you to the correct area. For callbacks, you will need to fill in your information and then submit a form. You can view the image below for more information.

Then the FAQ section is nothing out of the ordinary, and you can expect to find answers to specific questions here. The feedback section is not really a channel for support, but you can leave a complaint or suggestion, and the broker will get back to you.

Heading to the “contacts” section, you will find links to all social apps. Here you can get in touch with support, the financial department, partner relations, and the dealer department via Email, skype, phone, WhatsApp, Telegram, and more.

Then, clicking on the Email link will open up your “mail:to” app with the broker’s support email already inserted. Then live chat is directly accessible from their website. All in all, this broker has the most comprehensive customer support service we have come across.

Lastly, this broker offers support in many languages, which we will list below, and they also have a personal account manager.

InstaForex Customer Support Overview
Supported Languages English, French, Malay, Dutch, Italian, German, Simplified Chinese, Slovakian, Polish, Vietnamese, Portuguese, Spanish, Romanian, (over 30)
Customer Service By InstaForex
Customer Service Hours 24/5
Email Response Time 1 Business day
Telephonic Support Yes
Personal Account Manager Yes

  • Supported Languages: English, French, Malay, Dutch, Italian, German, Simplified Chinese, Slovakian, Polish, Vietnamese, Portuguese, Spanish, Romanian (over 30)
  • Customer Service Channels: Callback, FAQs, Live Chat, Feedback, Email, Telephone, Social Apps
  • Customer Service Hours: 24/5

Prohibited Countries: Where Can I Not Trade with this Broker?


Countries that are not allowed to do business with InstaForex (trade and open accounts) are not clear, and information on this is unavailable. The only information we could find is that they are a global broker specifically for CIS countries, Southeast Asia, Eastern Europe, and parts of Africa.

If you would like to know if your region is supported, then we would suggest getting in touch with support in one of the multiple ways we covered in the section above. We can assume that they are not allowed to operate in the U.S. because they are not licensed by the SEC. Also, we can assume that some countries that are sanctioned are not allowed to do business with them.

  • North Korea
  • Iran
  • Belarus
  • US

Special Offers for Customers


InstaForex has a whole section dedicated to special offers and promotions that they call “campaigns.”. Again, this is one of the most comprehensive lists of available special offers we have come across when reviewing online brokers.

In terms of bonuses, there are a few. Firstly there is the 100% bonus. InstaForex gives you a unique opportunity to get a 100% bonus on your first deposit. You just need to open and top up a live trading account and fill in the application form.

Bonus funds are not available for withdrawal and are credited to deposits up to 2,000 USD, but you can withdraw all the profit from these funds without any restrictions.

Then there is the 55% deposit bonus. The bonus can be deposited to accounts that were opened after June 15, 2013. InstaForex clients can take the opportunity of the 55% Bonus on every deposit.

InstaForex also offers its clients an opportunity to receive a 30% Welcome Bonus to their trading account. In order to obtain the Welcome Bonus, you need to register a live trading account and fill in the online application form.

Then every client holding an InstaForex Club Card is free to apply for the Club Bonus. The Club Bonus is;

  • 1% of the excess if it is < 500 USD
  • 2% of the excess if it is < 500-1,000 USD
  • 3% of the excess if it is < 1,000-1,500 USD
  • 4% of the surplus if it is < 1,500-2,500 USD
  • 5% of the excess if it is < 2,500-5,000 USD
  • 6% of the excess if it is < 5,000-7,500 USD
  • 7% of the excess if it is < 7,500-10,000 USD
  • 8% of the excess if it is < 10,000-13,000 USD
  • 9% of the excess if it is < 13,000-15,000 USD
  • 10% of the excess if it is <15,000 USD or more

This broker has too many competitions to mention, ranging from giving away cars to holding pageant awards for “Miss InstaForex” of the particular year. There are sniper trading competitions, demo account competitions, and more. However, we can’t go into details about all of these as they are based on a timeframe and will be ending. Therefore we do not know if these competitions will run again in the future.

We suggest heading to this broker and having a look at the “campaigns” section of the website for a full list of available competitions and special offers.

  • 100% Bonus
  • 55% Bonus
  • 30% Bonus
  • Club Bonus
  • Contests
  • Grand Choice Contest by InstaForex
  • Sniper
  • Lucky Trader
  • Chancy Deposit
  • Real Scalping
  • Great Race
  • FX-1 Rally
  • Miss InstaForex 2022
  • Free Devices
  • Events
  • Trading On Top
  • InstaForex Airplane
  • InstaForex Balloon
  • 7,000,000 Clients

InstaForex Review Conclusion: Reputable Broker with Easy-to-use Platform


For the most part, we rate this broker as safe and reliable, with another point being that they have operated since 2007.

PIPPENGUIN

Usually, we frown upon a broker that only holds one regulation license. However, this broker is by far one of the most transparent brokers (besides ZFX) we have encountered. Besides having amazing customer support service, they also hold numerous awards since they have been in operation.

The Trustpilot score is low, but due to the number of reviews, we can’t really say anything on the subject, and this is compounded by the fact that this broker lists real positive reviews on their site.

For the most part, we rate this broker as safe and reliable, with another point being that they have operated since 2007.

Summary and Key Takeaways


InstaForex is a CFD broker that trades forex, stocks, indices, crypto, commodities, and futures. They have been in operation since 2007 and have amassed 7 million clients. There are two account types, and both are able to have Cent account versions of them. The trading platforms available are MT4 and MT5 along with a mobile trading app.

  • Founded in 2007
  • Offer forex, stocks, commodities, crypto, futures
  • Offer MetaTrader (4 and 5)
  • Mobile trading app
  • Licensed by the FSC
  • Good amount of trading resources
  • Good customer support
  • Two account types with Cent accounts for each
  • Demo account
  • Maximum leverage is 1000:1

FAQs


Is InstaForex Legitimate?

Yes, InstaForex is and has been a legitimate online broker in operation since 2007. They are regulated by the FSC and have approximately 7 million clients.

Can I withdraw InstaForex no-deposit bonus?

All bonus funds for special promotions are not available to withdraw, but all profits made from trading can be withdrawn at any time.

How do I withdraw money from InstaForex?

You can withdraw money from InstaForex by e-wallets such as Skrill and Neteller, among others, via bank cards and bank transfers. Processing times will vary depending on the method used.

What is the minimum deposit for InstaForex?

The minimum deposit for InstaForex is 1 USD. This applies to all accounts, including Insta.Standard, Insta.Eurica and Cent accounts.

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InstaForex Review 2024: Is It a Legitimate Broker?
InstaForex Review 2024: Is It a Legitimate Broker?
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