Company DetailsTrading PlatformsAssetsSpreads & CommissionLeverageMobile AppsPayment MethodsDemo AccountDeals & PromotionsRegulation & LicensingAdditional FeaturesAccount TypesBenefitsDrawbacksTrading HoursCustomer SupportSafety & SecurityInstaForex VerdictAccepted CountriesAlternatives to InstaForex
InstaForex is an international brokerage offering over 2,500 instruments. The companies united under this brand offer forex and CFD trading and provide a great all-round service to more than seven million customers. InstaForex also holds a license with the CySEC and has several high-profile sponsorships, including with FC Borussia Dortmund.
Read our expert review to find out more about this international trading platform – and discover whether InstaForex could be the right fit for you.
Company Details
InstaForex first appeared on the financial services scene in 2007. Over the years, the brand has grown and expanded to different representative offices and locations worldwide, including in Czech Republic, Slovakia and Poland.
The brand has also made a real push to get their name out there through partnerships with a range of different sports teams and athletic personalities such as Borussia Dortmund, Ole Einar Bjørndalen, Daria Kasatkina, Ales Loprais, Vladimír Moravčík, HKM Zvolen, and others.
One of the InstaForex brand members is Instant Trading EU LTD. This company caters individually for the EU market with its headquarters in Cyprus. Importantly, InstaForex EU is regulated by the CySEC and fully compliant with European legislations.
Over 30 industry awards, plus the use of multiple data centres, demonstrate that InstaForex is a serious contender in the trading industry, with no plans of loosening its grip anytime soon.
Trading Platforms
While many online brokers and services offer their own proprietary version of trading platforms, InstaForex has gone the old school route by offering MetaTrader 4 and MetaTrader 5.
The MT4 and MT5 download is quick and simple. A suite of user-friendly analysis tools are available with both solutions, including built-in and custom indicators, pending order types, expert advisors and market signals. InstaForex also provides self-developed plugins such as One Click Trading and Superior Forex Desk.
For traders who enjoy the style, infrastructure and familiarity of MetaTrader, the fact that InstaForex uses these platforms will be be a significant bonus. There is also the Client Cabinet that adds flexibility.
As a well-invested, carefully designed and robust trading system, MetaTrader 4 and MetaTrader 5 do practically everything a trader could want.
Assets
As the name of the brand suggests, InstaForex primarily acts as a forex broker, with a wide selection of different assets on offer to compliment the forex products.
Currently, the platform has over 100 different currency pairs available to traders, allowing for full and comprehensive diversion of portfolios.
What is more, the broker treats its customers to an even wider range of instruments, giving access to trading stocks, commodities, indices and cryptocurrencies in the form of contracts for difference (CFDs). ETFs, US synthetic stocks and IPOs are also available to live account holders.
Spreads & Commission
As with the vast majority of online broker services, InstaForex utilises spreads and commissions, which vary according to the specific account you hold.
To find out more about the account structure of InstaForex in detail, read the Account Types section below for a full overview.
In basic terms, the platform offers three distinct ECN account solutions: ECN, ECN Pro and ECN VIP. The main difference between these accounts is the minimum deposit requirement and commission charges. Professional traders may find the Pro or VIP solution offers the best trading conditions. All three options offer spreads from 0.1 pips and competitive, tiered commissions.
Leverage
One of the benefits of choosing InstaForex for online trading is the sensible leverage availability. The maximum available leverage is 1:30 which reflects EU regulation on forex trading for retail clients. Traders that qualify for professional status can also trade with leverage up to 1:500.
Mobile Apps
As InstaForex supports trading through the well-established MT4 and MT5 systems, traders gain all the benefits mature and well-developed platforms – including the ability to access their trades from a mobile device.
InstaForex customers can trade on their mobile devices on the MobileTrader app, available on Google Play and iOS App Store. This app has been well received and highly rated by traders.
Additionally, InstaForex offers the Forex Portal App, providing live quotes, analysis, trading signals and other useful information, as well as the Forex Courses App that can come in handy for beginners.
Compared to some desktop-only platforms, InstaForex is relatively well established with the list of different tools and functionalities it offers to mobile users.
Payment Methods
InstaForex offers a great variety of methods for deposits and withdrawals, designed to provide their traders with something that works for just about anyone, anywhere in the world.
All the deposits are commission-free while fees for withdrawals can be charged by the payment processing system. Available payment methods include:
Neteller
Sofort
Bank cards
B2BinPay
Bitcoin via Skrill
Bank wire transfers
MoneyBookers/Skrill
All payments are processed within the nearest working day and the broker accepts several deposit currencies: CZK, EUR, USD, PLN and GBP.
Demo Account
InstaForex gives free access to demo accounts to allow new or rusty traders to hone their skills and get to grips with the platforms. The demo account comes stocked with virtual money, allowing you to get a good idea of what real-life trading might look and feel like.
For newcomers to trading or those that have been out of the game for a while, giving the paper trading account account a try is a great way to get back into the groove of things and understand the different functionalities on offer.
Deals & Promotions
Because of the regulatory requirements for brokers operating in the EU, there are no deals and promotions readily available for European-based traders. Welcome bonuses are no longer permitted by ESMA.
However, international traders who register at instaforex.com can access a range of different monthly promotions as well as club and deposit bonuses upon signing up.
Terms and conditions will apply, and should be read thoroughly to ensure they do not impact your trading style or choices.
Regulation & Licensing
InstaForex is an international brand, and EU clients are serviced by the brand’s member Instant Trading EU Ltd. This company is incorporated in Cyprus and regulated by the CySEC, licence number 266/15.
So when opening an account with this broker, you can count on the best execution policy and negative balance protection. Also note that this broker is a participant of the Investor Compensation Fund, so eligible clients can get a compensation of up to 20,000 EUR in case of insolvency. In addition, the firm is supervised by the Czech National Bank (CNB), the Slovak National Bank (SNB), and the Polish Financial Supervision Authority (KNF).
From a regulatory point of view, InstaForex ticks the boxes.
Additional Features
InstaForex offers several helpful services. Traders benefit from financial news and market analysis and the brand employs more than 30 forex analysts who provide daily market insights. The broker’s website also hosts a TV section with economic news, market reviews and video analytics. For beginners, InstaForex offers video tutorials and downloadable training courses. Finally, online webinars are available to both novices and established investors.
Copy Trading
One feature that is becoming commonplace in the industry is the use of social trading. InstaForex provides its version of a social trading platform which is called ForexCopy.
This system allows traders the chance to offer strategies, as well as allowing others to profit off commission within the platform.
For experts at trading, this is a big bonus, and one that shouldn’t be understated when it comes to professionals looking to try out a different broker.
For beginners, copy trading through the ForexCopy system can be a good start of their trading career, as they can see the deals copied to their accounts, thus watching how more experienced traders work.
Account Types
InstaForex offers several different account types, providing a tailored experience to traders:
Standard
The typical account for the vast majority of traders, Standard accounts provide all the base features the average user could want or need, with the added benefit of being able to change their leverage and deposit size.
Eurica
With no spreads required, the Eurica account is also a good alternative for traders just starting out. Fixed fees apply on all trades.
Accepted currencies include EUR, USD and GBP. Plus, there are no payment limits.
ECN
With access to all trading functionalities and no commission required, ECN accounts are designed for the next level of trader, with a higher degree of flexibility in market executions. Raw spreads from 0.1 pips are available to ECN account holders and the minimum deposit is 100 EUR.
ECN Pro
ECN Pro boasts almost the same features as an ECN account. However, the minimum deposit of 1,000 EUR makes this account type not for the fair-weather trader.
In terms of execution type, this account utilises market execution instead of instant performance, the same as the ECN account. The difference here is a reduced floating spreads starting from 0.1 pips.
Scalping
Variable spreads, no commission trading and more makes the Scalping account attractive to old-school traders. Utilising short-term deals and a quick strategy, this account is one for a specific subset of traders, but it is nonetheless valuable.
***terms and conditions apply
Benefits
As a well-established forex trading platform, the benefits of trying InstaForex are numerous.
Different account types are offered to suit all kinds of traders, and the platform also offers a free demo to ensure you can get to grips with the system and try before you buy.
As InstaForex utilises MT4 and MT5, the transition into this brand will be smooth for many – it all works exactly the same, so there’s no steep learning curve involved.
Not to mention that, for newbies, there’s plenty of tutorials available online, plus 2,500 instruments. Clients also benefit from five deposit currencies and membership of the Investor Compensation Fund (ICF). Then there is the wide-reaching EU regulation – providing a more versatile range of options for traders that aren’t always in one place.
If you’re looking for a well-built platform that has plenty of choice, then InstaForex might just be the ideal fit for you.
Drawbacks
While there are many good factors to consider for InstaForex, it’s also worth noting the drawbacks that come with this platform.
Because InstaForex hasn’t chosen to create their own proprietary system, the end result is less on-brand and polished – something many traders look for in platforms today.
Not to mention, the lack of some powerful plugins for MT4 and MT5 means you’re getting a more limited experience, with none of the exceptional functionality of more tooled-up models.
Trading Hours
InstaForex offers trading round the clock with the exception of weekends and rare general public holidays.
Customer Support
InstaForex offers an online form and bespoke portal to get in contact with their team for assistance. In addition, details are provided for a wealth of technical support options which can be selected on their website for WhatsApp and live chat to Telegram, Viber and Skype. InstaForex also has branches in the Czech Republic, Slovakia, and Poland with support provided in local languages.
The Contact Us section at instaforex.eu covers it all, with comprehensive options for getting in touch with technical support, client relations, their finance department and partner relations.
Safety & Security
InstaForex provides adequate financial and technical security for its customers, using a level of protection equivalent to banking processes. This includes the use of two-factor authentication, anti-phishing technologies plus segregated accounts for high-value deposits.
InstaForex Verdict
As an online trading platform, InstaForex is a solid choice. It utilises well-known technology such as MT4 and MT5 to provide an excellent experience to traders and ensures the safety of their customers through EU regulation and effective security solutions.
If you’re looking for a trading platform that offers a comprehensive variety of different trading options, then InstaForex might be worth checking out.
While it certainly isn’t an exceptional standout, it does have a good reputation and all the functionality in place to make it viable for many different types of traders – from old hands to beginners.
Accepted Countries
InstaForex only accepts traders from United Kingdom, Ireland, Switzerland, France, Italy, Germany, Denmark, Norway, Sweden, Poland, Spain, Portugal, Greece, Cyprus, Austria.
Alternatives to InstaForex
If you are looking for alternatives to InstaForex we have compiled a list of the top 5 brokers that are similar to InstaForex below. This list of brokers like InstaForex is in order of similarity and only includes companies that accept traders from your location.
Just2Trade – Just2Trade offer high tech trading on stocks and options with some of the lowest prices in the industry.
Avatrade – Leading forex and CFD broker regulated in Ireland, Australia, Canada and South Africa. Avatrade are particularly strong in integration, including MT4
FBS – FBS is a top online broker offering MT4 & MT5 trading across a range of instruments.
Hantec Markets – Hantec Markets is a multi-regulated online FX broker offering MT4 and a tailored service providing flexibility to suit any trader.
GO Markets – GO Markets is an ASIC-regulated FX & CFD broker.