InstaForex: Official Review 2024, Pros and Cons

InstaForex is a new generation electronic communication network (ECN) online broker belonging to Instant Trading Ltd. With offices in various locations around the world. It is a pioneer in development and introduction of modern technologies and trading tools. InstaForex has repeatedly been ranked as the Best Broker in Asia, Best Client Service, Best Broker in Western Europe, Best Retail Broker, and Best Broker in the CIS countries, among many other nominations. 

Over 7,000,000 customers have become traders of InstaForex since its establishment in 2007 for its quality, security, innovative approach, and a wide selection of services and offers.

The InstaForex platform allows you to trade CFDs on over 400 financial instruments, including stocks, currencies, cryptocurrencies, commodities, stock indices, and futures.

In this review we will take a look at the services offered by InstaForex, the types of accounts available, the main platform features, the expected fees and costs, as well as the quality of its customer service.

At the end of the review we will provide the reader with an overall judgment of this online broker, and an objective, impartial opinion.

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Security is the first element to evaluate when choosing an online platform to entrust with your capital for trading financial instruments. 

Instant Trading Ltd, which provides investment services under the InstaForex brand, is an investment company authorized by the Financial Services Authority (FSC-SVI), under license number SIBA/L/14/1082. 

InstaForex is therefore required to operate in line with international regulations governing the markets for financial instruments. The directives guarantee a series of benefits and protections that InstaForex customers will enjoy, confirming that InstaForex is a regulated and transparent broker.

InstaForex offers five types of online trading accounts. Their features (minimum deposit, spread, commissions and costs, etc.) depend on the type of platform (MetaTrader 4 or MetaTrader 5) that the client chooses to uses:

In addition to the Insta.Standard and Insta.Eurica accounts, InstaForex offers two other types of accounts, the highly regarded Cent.Standard and Cent.Eurica.

InstaForex also offers an account dedicated to the diversification of customers' investments, called “OYS Portfolios” (On Your Side). This account allows traders to use the copy trading service to invest in assets selected by InstaForex specialists, without paying extra commissions.

Note: The minimum deposit to use the OYS Wallet service is £10,000.

In the next paragraphs, we will dive deeper into the aspects related to the financial instruments, currencies, costs and commissions of each account.

Creating an online trading account on InstaForex is quick and easy.

Here are the steps to follow:

Register your profile by filling in the fields with your information: name, surname, country, telephone number, email address

For the last identification step, you will be asked, as per legislation, to upload a document to verify your identity, one for residence (1st and 2nd level verification) and, depending on the deposit method, the relative proof of ownership (3rd level verification).

Lastly, you will need to make a deposit in order to start your online trading activities.

Leverage trading can be chosen by the client in ranges from 1:1 to 1:1000. The client can change the leverage any time they want from the profile.

InstaForex allows its customers to invest in Forex projects. Every customer of InstaForex can accept forex investments from other traders or invest funds in PAMM forex accounts and become a shareholder of an account. InstaForex PAMM forex systems include two categories of users, customers as investors and customers as traders. 

Investors invest their funds in trader accounts with the purpose of taking a part of the profit made by traders. The investment can be of any amount depending on what share of the account each investor wants to hold.

ForexCopy is an InstaForex service that allows duplicate orders of successful traders even when the trading terminal is off. It takes just a few minutes to choose a trader and set up automatic copying of the chosen trader’s activity. 

Alternatively, it takes a few minutes to set up an account for others to be able to copy trades from you. One of the advantages of the ForexCopy system is its reliability. 

The service users can be followers and/or traders. The follower can fully control the situation, as the funds stay in their account and they can customize the settings and even manually cancel copied orders if they appear potentially unprofitable. 

The account and funds are entirely under the customer’s control, which ensures that no action can be performed with the funds without the owner’s consent. 

InstaForex offers bonuses of various types and dimensions to its customers. A percentage of the deposit amount will be added onto the account. 

This way the customer can trade with more capital. In addition to the bonuses referring to each deposit, there is also a no deposit bonus. The profit made using the bonuses can alternatively be withdrawn.

Yes, InstaForex offers a demo account to carry out trading operations of financial products through virtual money. 

Demo account is a very useful tool for traders who want to practice or test the platform before putting their capital at risk.

The demo account allows you to take advantage of the features provided on the platform:

• Transaction History
• Transaction Archive
• Trader Calculator
• History of Ticks
• Leverage from 1:1 to 1:1000
• Charts with variation of the balance

The minimum deposit required by the broker to start trading is 1 USD/GBP.

The average deposit processing time is 20 minutes and 25 seconds.

The average withdrawal processing time is under 4 hours.

The client has different payment types available for deposits and withdrawals, including:

• Visa and Mastercard credit/debit card
• International bank transfer
• Bank transfer for local area SEPA, Southeast Asia, China, India, Middle East, Africa
• Cryptocurrencies: Bitcoin, Litecoin, BitcoinCash, Cardano, Tether, Dash, Ethereum, Dogecoin, BinanceCoin, Eos, Ripple, Neo

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